They will notify the property management company if something is missing or any changes. Vendor insurance is expired, it is no longer in the system. Or the yearly background check came back with hits, not approved.
First, if the property management company uses Compliance Depot, you will not be able to walk up and start working. There is a process in place, to ensure you comply with the set requirements. If the property management company has an OPEN vendor list, you can contact Compliance Depot directly and apply to be a vendor for that specific organization.
It does not mean they are hiring you, it simply means that you are approved to work for them. But for the most part, someone from the corporate office handles this process; in this case, you might have to follow up to ensure you were invited.
Once you submit all the documents, it typically takes anywhere from 3 to 5 business days to be approved. If you have a clean slate and your insurance is good, then it should be within a couple of days. If you are required to provide more documents, or adjust insurance, it might take much longer. When you submit your paperwork and pay the fee, you become an approved vendor for XYZ. Furthermore, at the end of 12 months, if you are still providing service for the property management company, you will have to pay the fee again.
The requirements will depend on the property management company. Some will require different levels of insurance, and background checks. In fact, there are some organizations that will request a credit check. Compliance Depot is responsible for the background checks, gathering documents, check for compliance, and ensures everything is valid and in good standing.
If your insurance complies, and all the necessary information is uploaded correctly, it takes around 48 hours. Sometimes longer, sometimes less. If your insurance is less than acceptable, and you are willing to make the adjustments, it will take much longer. In some instances, if you are really needed by the property, and they convey that to the corporate office, the PMC will allow an exception through Compliance Depot.
Compliance Depot offers a premium option, called Credential Key — I have never used it before. If you are approved for ABC Property Management, you could also be instantly approved to work for XYZ Management Company, provided that you can fulfill all the requirements of the latter.
If that is the case, you will be able to work that same day. Before taking on a job that requires Compliance Depot — or any system that demands payments — you have to analyze if it is worth it for your company. Because we offer many different services, it is important to know your company well before taking a job.
At the same time, it is a recurring job, and I might get called again. If you are fixing a shingle, that is likely to be it. But if complex calls you to paint an apartment. It is likely they will call you again, as that is a service they will need consistently.
If ABC Management only manages Livewell Terrace in your area, which has six units, you probably should take a pass on that. Unless they are looking to remodel all of the units, and you know you will be able to come out on top. Are they calling you because Joe, the painter, is on vacation this week, and they need a couple of apartments painted?
Or are they desperate in need of someone to paint all the time for them? They might not answer you directly, but you can have a feel when talking to the property manager. Some management companies will require additional umbrella insurance. Again, before you say yes, you should consider all of the factors listed above. You have to keep in mind that property managers are paid to fill apartments.
That is their primary job, and most of their bonuses are linked to the occupancy rate. They will do all they can to meet their goals, including telling you what you want to hear. You can submit a bid at regardless. In fact, I would not even go through with Compliance Depot unless you are confident you are getting the job. Meaning, they will only call you in case their preferred vendor is not able to complete the work or cannot keep up with the demand.
You might never get a call from them. Managers are not likely to sign contracts. But when they are desperate, you can get them to commit a certain amount of work to make it worth it getting approved. If you do not have a registry with Compliance Depot you will have to call the customer service desk. The number is You will select option 1 for enrollment. If you have used the service before, and you still have the same company, then you do not need re-enroll — even if it has been years.
However, if you have a new company, you will be required to start from scratch. You will only receive online access once you signed up and paid the fee. Keep in mind that the fee schedule is subject to change. Once you pay for your fee, you will receive login information. Your dashboard will look something similar to this:. The dashboard will have all of the information all at one place. You can click on company information, and it will take you to an overview of your business.
In this section, you can fill and sign your W9 form. You can also update your phone number and email address. Additionally, in this section, you can also see your active customers — the ones you have already paid the fee. You can see your insurance paperwork and other documents. Furthermore, Realpage added a new function in this page. It allows you to select what kind of services you offer, and add a short description of your company.
As I mentioned in this article, my experience with compliance depot referral is very limited. There is nothing more than the name and the title for the owners. In my case, since I have a partner, both of our names show on the list.
Real page requires that anyone with over 30 percent of ownership interest be listed as a principal. The enrollment fee if for up to two principals. The site allows you to add principals, even after you have an established account.
The form shown below:. The requirements will depend on the property management company that you are working with. Similarly, it will provide you with a general checklist that you can download and check off the documents that you have already submitted.
In this section, you will be able to see a list of documents that you will need to submit to become an approved vendor. You can upload the documents in this section, or you can email them to vcdocuments realpage. Add your vendor number in the subject line, and the docs will update automatically. In the payment section you will be able to see what is due, the services you are being charged for, and how much you will be paying.
You can also cancel auto-renewals, and view previously paid invoices. I highly suggest turning off the auto-renewal. Mostly because the clientele in this business is very high turn over. I have been charged on auto-renewal for clients that I had stopped working for. This section is a no brainer. If you have more people that administer your account, you can add or remove users from the user panel. This is where you will track the status of your evaluation. It will give you a break down of all the documents required, the ones you submitted, and whether approved or not.
Login Register. Remember Me. How to resolve AdBlock issue? Refresh this page. Recent Discussions Categories Rules Search. Multifamily Insiders Discussions. Problems with Compliance Depot. Reply Topic. Problems with Compliance Depot 9 years 4 months ago I'm trying to join in on Compliance Depot and they are asking our insurance company to do something that is illegal.
Can someone message me and let me know how to get around this? I have potential clients out there wanting bids and can't do anything until all this is ironed out.
Go to editor.. Note: BBcode and smileys are still usable. Quick Reply Reply Quote. Re: Problems with Compliance Depot 9 years 4 months ago Something that is illegal? What are they asking for? I haven't had any issues with them like that. Re:Problems with Compliance Depot 9 years 3 months ago I am guessing they want some sort of language on the certificate about "primary" and "non-contributory" coverage? Hello Mj, without getting into all the details, maybe this link will assist you in finding some answers: www.
Problems with Compliance Depot 8 years 5 months ago Compliance Depot is a joke. I have been dealing with them for years.
The people that answer the phones are just reps, not insurance agents. They really have no idea what they are looking at as far as certificates of insurances. Yet they hold the power in thier hands of companies like the one I work for from doing business. I really wish management companies were aware of this. I have worked with them in the past, too. As a regional manager, I actually ask in the 2nd or a later job interview if the company works with Compliance Depot or plans to.
I absolutely refuse to take a job that has anything to do with them. I never heard of illegal requests, it was just a difficult, slow process that smaller vendors couldn't afford and delayed many necessary projects. I wish they had a sizable competitor!
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