If you are a landlord or managing agent for multi-tenant properties, Ponce Bank can manage your tenant lease security account to give you peace of mind.
Features & Benefits
A quarterly statement for each property representing each tenant’s security deposit
Tenants are not allowed access to the account
Interest paid on each sub-account and the landlord account is credited with the appropriate administrative fee to which it is entitled
The Bank manages all the tenant interest distributions
All year-end tax forms are produced and mailed by the Bank to each tenant and landlord