Hello Doorvestor,

Doorvest is currently working through a system update that may have impacted your rent distribution. We apologize for any delays in communication and the inconvenience this has caused. All hands are on deck to work out the kinks in our new distribution procedure & system update. 

Please see below for an update on distributions and FAQ:

How did it happen and what's taking so long to get it fixed?

For more context, Doorvest transitioned our accounting, banking, and distribution systems last month. Due to some system errors, our team is auditing all bank activity and reconciling the amounts with pending maintenance, rent & renovation guarantees, credits, and waived management fees for all owner accounts. We are dedicating every resource to ensure this gets done as quickly and accurately as possible. 

Who was impacted?

Most owners should have received their distributions by now. For those who have an incorrect or missing distribution amount, there are additional complications with your account balance that we are working to resolve. If you received a distribution notification but the amount has yet to hit your bank balance, please reach out to us with the confirmation and we will contact the bank.

What's the plan?

Once the audit is complete, we will post any required corrections and distribute them to your bank accounts. We expect the full system audit to be resolved by early next week and the required corrections initiated by November 11th. Your Doorvest portals should also be updated by that date.

Next Steps

In addition to responding to your individual emails, we will send another status update to all affected customers early next week. Please do not hesitate to reach out to us in the meantime.

Again, thank you for your patience and understanding as we work through this. Our team is diligently working to resolve all issues and will keep you updated via email.

Best,

Doorvest