1. Tenant Payment Set-Up
Once in the Tenant Portal, the Tenant will select ACH Payment Set-up and follow the instructions provided to connect a bank account.
Payment Account Types
Tenants will have the option to set up their account as Unverified or Verified, which will affect the payment limit for their ACH account.
Unverified – This allows the Tenant to make payments up to $5,000. In order to create this account type, the Tenant will be required to provide their First Name, Last Name, Email Address, and Account Type during the set-up process.
Verified – This allows the Tenant to make payments up to $20,000. The required information varies based on the type of account. Details are provided in the table below.
| Customer Type | Max Payment Limit | Account Types | Information Required |
|---|---|---|---|
| Unverified | $5,000 Per Month | Sole Proprietorship, Corporation, LLC, Partnership, and Personal | First Name, Last Name, Email Address, and Account Type |
| Verified | $20,000 Per Transaction | Personal | In addition to the information required for the Unverified Customer Type, you will be required to provide Your Date of Birth and the Last 4 Digits of Your SSN |
| Verified | $20,000 Per Transaction | Sole Proprietorship | In addition to what is required for a Verified Personal Account, you will be required to provide Your Business Name, Industry Classification, Business Location, and Business EIN. |
| Verified | $20,000 Per Transaction | Corporation, LLC and Partnership | In addition to what is required for a Sole Proprietorship account, you will be required to provide information on the Account Admin and Controller. |
Document Verificaton Best Practices
When asked to upload a verification document, please follow the best practice guidelines below.
2. Tenant Payments – One Time or Autopay
NOTE: In order for a Tenant to make a payment, the Landlord must ensure that their Lease is currently ACTIVE (not expired) and that an Invoice has been created in STRATAFOLIO so that payments can be posted to the Invoice.
The Tenant can select to make a one-time payment or set up recurring payments with Autopay. They will also be able to access certain lease details such as files you have shared with them, lease rates (including scheduled escalations), invoices, and past payments.
Want to learn more?
Would you like to learn more about what STRATAFOLIO can do to help you manage your Commercial Real Estate Properties? Watch our prerecorded 10-minute demo to learn how we can reduce your time and effort by 80%.Do you want to talk to us directly about how we can help your organization-specific needs? Schedule a 1:1 demo tailored specifically to your organization’s individual goals and needs.