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How to Add a Hold on Funds for a Specific Property in Property Stack
How to Add a Hold on Funds for a Specific Property in Property Stack

In this section we go through the two ways you can put a hold on an owners account to withhold money in there trust account.

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Written by Support Property Stack
Updated over a week ago

Objective:

This article will guide you through the process of placing a hold on funds for a particular property within Property Stack, ensuring financial obligations are met before payouts.

In this Article, You Will Learn:

  • The steps to navigate to the property list.

  • How to place a hold on funds for a chosen property.

  • How to edit holds on an owners account before EOM payout

Step 1: Navigate to the Property List

  • Access the Property Stack dashboard and click on the "Property List" from the side navigation menu.

Step 2: Select the Property

  • Find the property for which you need to hold funds. You can use the search bar to quickly locate the property.

  • Click on the property to access its details

Step 3: Placing the Hold on Funds

  • Within the property details, go to the "Policies" tab and scroll down to the "Rates" section.

  • Enter the amount you wish to hold in the "Property Hold" field

Step 4: Confirm the Hold

  • After entering the amount, make sure to save the changes to ensure the hold is properly recorded in the system.

Pro-Tip: If you're processing the End of Month (EOM) payout and realize you forgot to put on a hold, don't worry. You can quickly add a hold on the necessary funds just before you finalize the EOM payout and download the ABA file.

Conclusion

Adding a hold on funds for a property is a vital feature in Property Stack to manage financial transactions efficiently. By following these steps, you can ensure that all property-related fees are accounted for before completing owner payouts.

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