Frequently Asked Questions
Looking for answers to your questions about VPM's TruLease plan? You've come to the right place!
Q: What is TruLease?
TruLease is a specialized service that partners with commercial building owners to offer you addresses that are recognized and accepted as real physical business addresses by vendors.
TruLease comes with a lease agreement that has similar legal rights and enforcements as any commercial leases you see.
TruLease also comes with supporting services such as on-site visits, utility bill, and phone verifications. This helps to ensure that you can use the service to satisfy most requirements that you may encounter.
Q: Does TruLease offer a real physical address?
Yes, TruLease provides you with a true U.S. physical address. It's not tied to a mailbox address, a registered agent office address, or a coworking / virtual office address.
TruLease does this by partnering with commercial building owners to provide and lease office suites in their buildings. For this reason, you must sign a full lease agreement no different from you leasing the office space.
Q: Will my TruLease address be designated as a CMRA address by the USPS?
No, your TruLease leased address is not designated as a CMRA address by the USPS, which is not considered a physical address by financial institutions. You can read more about how address type is determined here.
Q: What are the requirements to sign up for TruLease?
In order to use TruLease, you must meet the following requirements:
- Obtain a business EIN to authenticate your entity’s existence.
- Provide a copy of your business’s incorporation documents or LLC Operating Agreement.
- Submit a notarized USPS Form 1583 along with two forms of identification, including one with a photo.
- The individual opening the account must be an authorized officer/manager of the company.
Q: Do I need 2 separate plans to get a mailbox address and a physical business address?
TruLease comes bundled with 2 addresses -- a mailbox address and a physical leased address. You do not need a separate mailbox plan in this case.
If you already have a mailbox address, you can upgrade to the TruLease Plan and keep your mailbox address. In this instance, you only need to go through the lease agreement signing process to get the physical business address.
If you would like to keep the physical address separate from your mailbox address (maybe it's for personal), then you would want to sign up for a separate TruLease account.
Q: What information does the lease agreement contain?
The lease agreement is a standard commercial lease agreement. It outlines:
- The date when the lease starts
- The term of the lease, which is usually set to 1 year.
- The monthly rent for the lease.
- Terms on the use of the office.
- Lessor name and signature.
- Your business name and signature.
Q: How long does it take to get the lease signed?
It usually takes about 1-2 business days to go through the entire lease agreement signing process. The process can be expedited if you prepare all the required documents ahead of time.
Q: Will I get a different suite number assigned to me, or do all customers share the same TruLease address?
Yes, each TruLease leased address is distinct and has a its unique suite number that differentiates your office from another person's.
Q: Can physical address suite numbers be chosen?
The suite number for the leased address is assigned by the TruLease department and cannot be selected.
Q: Can I see the lease agreement before I sign up?
Unfortunately, no. Our lease agreements are customized for each location based on each lessor's specific situation and terms.
You will have a chance to review the lease agreement before signing it. So once you sign up and send us the required documents, we will draft up the lease agreement for you to review.
If you decide not to proceed with it, we will cancel the account and refund you the initial sign up fee. Just make sure to do this within the first 30 days so that it's covered under the cancellation policy.
Q: Do you offer discounts for TruLease?
No, we do not offer discounts for TruLease. It is a high-demand product with limited address availability.
Q: Why do other lease agreements charge a one time fee and you charge monthly?
Other businesses that offer a one time fee for a "lease agreement" are not giving giving you a real lease agreement that meet compliance regulations for a physical address. We have yet to hear of anyone who will rent you an office for a one time fee. For that reason, we do not believe that the rental agreement you get is legitimate and legal.
With TruLease, we partner with commercial building owners to lease you real office suites. The way TruLease works is very similar to what you'd get when you go and lease the office space yourself. We're simply making the leasing process easier and more accessible to you.
Q: Can I use this plan to open a merchant account to accept credit card payments?
Yes, you can use TruLease to open merchant accounts such as Stripe or Shopify Payments. However, some merchant service providers may request for additional proof such as a utility bill or an on-site visit. For this reason, TruLease can offer you a utility bill and to coordinate with the landlord and vendors for the on-site visits.
Q: Can I use TruLease for a Google Business profile?
Neither the TruLease address nor the mailbox address are recommended for your Google Business location, as Google My Business (GMB) requires that you service walk-in traffic. This requirement is stated in the Google Business Profile Terms, which prohibits online-only businesses from being eligible for a Business Profile.
Q: I want to work with a specific bank or vendor. What if they don't accept me?
We highly recommend that you do not depend on one single vendor when there are other alternatives available. For example, different banks have different risk tolerances and underwriting requirements. So while one bank may be more friendly to internationals, another bank may not. The same goes for merchant accounts.
Therefore, we recommend that you prepare a list of vendors to work with whenever possible. This is not possible with Amazon (there's only one) so in such a case, we take more special care to work with you to get your Amazon account setup.
Q: Can I receive mail at the physical leased address?
Yes, you can receive mail at the physical leased address. In fact, many financial institutions will ship their initial welcome packet and credit/debit cards only to the physical address.
Mail received at the leased address will be periodically forwarded to your mailbox address and may take 1-2 weeks to show up in your online mailbox. Once it's in your virtual mailbox, you can process the mail and either read the mail online or forward it to another destination.
Q: Which address should I use for what?
TruLease comes with 2 addresses: A physical address for proof of address purposes and a mailbox address for mail.
The physical address should only be used for proof of address requirements and not for operational mail or packages. For all other purposes, you should use your mailbox address.
Q: Do I get fax service with TruLease?
Unfortunately, VPM does not offer fax services. However, there are several online fax options that are available. Here are some that you might find useful:
Q: Do I get a phone number with TruLease?
No, phone numbers or SIMs are not provided as part of TruLease. TruLease only includes a physical address and lease agreement for business use, as well as services to help manage your mail.
If you need phone service, we recommend that you check out the VOIP services out there that can provide you a number at competitive rates.
Q: Is it possible to obtain a driver’s license through TruLease?
No, obtaining a driver’s license is not possible with TruLease. TruLease is intended for business purposes only, not for personal use.
Furthermore, state regulations require a residential address and proof of residency, which cannot be established with a commercial address.
Q: Is TruLease guaranteed to work to open a business bank account?
Because every bank has its own criteria and underwriting process, VPM cannot assure that you will be able to open a bank account based on the differing factors. However, what we can guarantee is that you will get a real physical address with TruLease for proof of address.
Q: Do you maintain a list of banks accepting/denying TruLease as proof of physical office address?
No, VPM does not maintain a list of banks accepting or denying TruLease as proof of physical office address. Banks have varying underwriting practices and may take into account factors such as the type of business, the company owner's background, past sanctions, etc.
Even within the same bank, approval rates may differ. For example, you may be rejected if you went to one bank’s branch, but accepted if you went to another branch.
Rejections can happen even if you have everything required. For this reason, it is recommended to have a list of several banks to work with, as different banks have different risk tolerances.
Q: Do most banks require you to be there in-person to open a business bank account?
It varies. While some banks allow you to open a business bank account online, others may require you to complete the registration process in person. This can pose a challenge for international businesses.
Our recommendation is to prepare to make a trip to the U.S. to open bank accounts should the need arise.
Q: What will happen if the bank closes my business account after 30 days?
In the event that your bank closes your business bank account after 30 days, you may send us the bank’s rejection letter for us to review. The closure reason must be caused by the physical address we provided you.
Evaluations are done on a case-by-case basis and, if approved, the account will be closed and no further charges will be billed. However, we will not refund past charges.
If the bank account is closed after the address has been previously approved, you would not be able to cancel and must serve the entire term of the agreement.
Q: How can I get the utility bill?
First, you’ll need to sign up for the TruLease plan. Once you have fully executed the lease agreement to rent an office, you can then request for a utility bill. The bill will usually be given to you on the same day or the next business day.
Q: Can I get the utility bill by itself without the lease?
No. The utility bill is not a separate standalone product. It is an add-on to TruLease and only works when it comes together with a lease agreement.
Q: Can I get a utility bill under my business name?
No, you cannot get the utility bill under your business name and address. With TruLease, you are leasing a small office within a larger office building. The utilities supply the entire building and therefore would be under the lessor's name.
This should not be an issue because most vendors are looking for proof that the business address physically exists. Therefore, a utility bill does not necessarily need to be under your business name as long as you provide proper explanation. We will give you some instructions on this when you request the bill from us.
Q: How long is the utility bill good for?
The utility bill is guaranteed to be effective for 3 months from the date you are billed. Should you need a more recent bill within the 3 months, we will provide you an updated bill without charge.
Q: What if the utility bill is not accepted? Do I get a refund?
Many factors go into determining whether your account is approved or not. From our years of experience and the quality of our address that we provide, most of the problems are not related to the address we provide.
However, we also understand that it's also a waste of money to pay for and keep a service that you cannot make use of. Therefore, we do provide a 30-day money back guarantee when you can show proof that the utility bill is not accepted.
Please note that no refunds will be issued if you are able to use it with at least one vendor.
Q: What is your cancellation policy?
Our cancellation policy allows for cancellation within 30 days of sign up if the lease agreement has not been fully executed. If it’s past the 30-day mark and the lease agreement has not been fully executed, you may cancel your plan; however, refunds will not be provided for past subscription fees.
If the lease agreement has been fully executed, then a proof of rejection (this can be a written letter or email) must be provided before a refund can be approved. For cancellations after the 30-day timeframe, a case-by-case evaluation will be conducted. If there is no proof of rejection and the lease agreement is not canceled within 30 days, your one-year contract must be fulfilled.
Q: Can I cancel the service before the contract term ends?
With TruLease, you are required to maintain TruLease for at least one year.
Note that you are required to continue the TruLease service for as long as the leased address remains on file with ANY financial institution or vendor to satisfy their periodic address audit checks.
In the event that your account is closed before the term ends, you will be permanently banned from using our service.
Q: Can I use the physical address after I cancel TruLease?
You are no longer authorized to use the physical address after cancellation. You must update all uses of the address to another address. In the event that we continue to receive mail at your assigned physical address, we may continue to bill you for the TruLease fees as it constitutes continued use of the address.
Q: What happens to mail received at the physical address after I cancel TruLease?
Your mail will get returned to the sender with wording indicating that the individual/company is no longer at this address. This helps to notify the sender that you're no longer at this address.
Q: Can I start up TruLease after canceling it?
It will depend. Once you cancel TruLease, you will not be able to start a new TruLease service for your business for 2 years. This is the 2-year waiting period. If you wish to restart your TruLease service within the 2-year waiting period, you will need to pay for service from the time you stopped your TruLease service to the current date you wish to restart. In addition, you will also need to sign another 1 year term starting from the day your TruLease restarts.