Frequently Asked Questions

Find the most commonly asked questions about the residential address uses of the TruResidence service.

General

Q: What is TruResidence?

TruResidence is an address service that provides you with a U.S. residential address inside a condominium tower and includes mail receiving and processing. It comes with an optional lease agreement add-on for situations where proof of home address is required.

Q: Where can I use my TruResidence address?

Your residential address can be used for receiving personal mail, opening business and personal bank accounts, applying for credit cards, setting up merchant and investment accounts, and maintaining other financial accounts. See the full list of what you can and cannot use TruResidence for on the address overview chart.

Q: What are the limitations of using TruResidence?

TruResidence should not be used for public-facing purposes such as websites, Google Business, social media profiles, or business formation documents. For these needs, consider our virtual mailbox service.

Q: Will I get a unique suite number assigned to me?

Please note that with TruResidence, you'll share the same home address with other customers. Each customer does not receive their own unique "mailbox number" because such designations do not exist for a home. Essentially, it operates like a household where family or friends reside together and utilize the same address.

Q: How soon will I be able to access my mail?

Your mail may take about a week to appear in your online mailbox to view.

Q: Can I receive mail and packages at the TruResidence address?

Yes, you can receive mail and packages at the residential address. Your mail will be picked up on a weekly basis and delivered to a VPM processing center to be scanned and stored so you can read your mail online.

Packages may incur additional transportation fees. We recommend that you get a separate virtual mailbox if you plan to receive packages on a frequent or consistent basis because you’ll end up paying more shipping fees – once to get the package to the processing center and again to have it shipped out to you.

Q: What are the additional transportation fees incurred for receiving packages at the TruResidence address?

The fees vary depending on the size of the package. Typically, any received mail or packages must be transported to our processing center, and the fee is determined by the cost of delivering such items. For small items such as credit cards, there's usually no charge.

That said, your TruResidence address is not optimized for package delivery. If you plan to receive packages on a regular basis, we would recommend that you get a separate virtual mailbox for this purpose. This ensures quicker package retrieval (as home address mail is collected weekly) and saves on shipping costs.

Q: Do I get a U.S. phone number?

Unfortunately, TruResidence offers only the residential address and lease agreement add-on for now. It does not include a U.S. phone number. For phone numbers, we recommend that you get one from a VOIP service like OpenPhone. This way, you can make and receive phone call from anywhere in the world.

Q: Does TruResidence include registered agent service?

Currently, registered agent service is only offered with our virtual mailbox and TruLease plans. TruResidence is designed exclusively for personal use and does not accommodate business registrations. Therefore, registered agent service isn't applicable to this service.

Q: What is the difference between a virtual mailbox address and a TruResidence address?

There are several major differences between a virtual mailbox address and a TruResidence address.

First, a mailbox address is a long-term business address associated with a commercial office building, whereas a TruResidence address is a residential address attached to a home and is not considered an office location.

Second, a mailbox address can be used on public facing platforms and communications, including mail from the government, IRS, vendors, and customers. In contrast, your TruResidence address is intended solely for personal financial accounts and mail services.

Finally, a mailbox address does not qualify as a physical address. Since it does not involve leasing a physical space, it does not enable you to establish a lease agreement. Your TruResidence address, on the other hand, is tied to a home address and allows you to sign a lease agreement to rent a space. This lease agreement can be used in situations where proof of address is required.

Q: What is the difference between TruLease and TruResidence?

TruLease allows you to lease an office suite within a building through VPM’s network of commercial building partners. It provides you with a physical suite address, a lease agreement, and an optional utility bill. TruLease is typically used for opening merchant accounts, Amazon Store, and Shopify payments.

TruResidence offers you an upscale residential address specifically for personal communications and mailing use. The address can be used for opening bank accounts and maintaining financial accounts. You can also choose to obtain a lease agreement if such a document is needed. TruResidence does not offer a utility bill.

Q: Are there any upcoming locations being considered for TruResidence?

Yes! VPM plans to launch more U.S. home address locations as part of the expansion plan. Additionally, when you sign up for TruResidence, you'll have the opportunity to indicate your interest in other states. You can fill out the form to share what states you'd like to see too.

Q: Under what circumstances can my TruResidence account be suspended?

Account suspensions can occur due to payment issues or violations of our terms. If this happens, you won't receive refunds or credits, and you won't be able to recover any previous payments.

Lease Agreement

Q: Is a lease agreement provided with TruResidence?

Yes, you have the option to sign a lease agreement to rent a space. It is an add-on and costs extra. You can also view location specific costs on the TruResidence overview.

Q: Can the TruResidence lease agreement be used as proof of address?

By obtaining a lease agreement, you will be able to use it in places where one is requested. The lease agreement is a legal agreement that enables you to rent a space at your TruResidence home address when necessary.

Q: Does the lease agreement grant access to the property itself?

While you technically have legal rights to the rented space, it's not ideally tailored for such purposes. First, the condo is unfurnished. Second, it's more like renting a room in a shared living situation, so privacy would be a major issue. Plus, keep in mind that leases tend to be short-term, so you'd need to have a plan for moving out.

Q: How many people can be listed on the lease agreement?

You can have at most 2 names (ex: partner, spouse, etc.) listed on the lease agreement.

Q: How much will it cost to add a lease agreement to my plan?

Signing a lease agreement is the same as renting a home or room. You will need to pay, at a minimum, the first month’s rent plus a one month’s deposit. The deposit is fully refundable after the lease terminates. Payment terms depends on the home, your credit score, and other factors that shows evidence of your ability to pay.

Additionally, you will also pay a one-time processing fee and setup. Please see pricing page for details.

Q: What documents do I need to apply for the lease agreement?

You may need to provide your social security number along with a government ID for identification verification purposes, proof of income, etc. VPM may run a credit check to determine your credit score as part of the company's due diligence. Other documents may be required. This is a fairly standard procedure when renting a home.

Q: Can I get a lease agreement if I'm a foreigner?

TruResidence is primarily for U.S. individuals who have a social security number. This usually means that you'll need to be a U.S. citizen or resident.

Foreigners without a social security number will be evaluated on a case-by-case basis. Additional deposits and verification requirements may be required.

Q: Can I sublet/sublease my space?

No. There are provisions in the lease agreement that specifically prohibit subletting.

Q: Can the lease agreement add-on be removed and reinstated as needed?

Yes, it can. However, it's rare that you'd need a lease agreement. Leases typically serve specific purposes and are designed for short-term durations, usually spanning 1-3 months. Additionally, each property can only accommodate a set number of active leases at any given time, so if capacity is reached, you may need to wait until a lease expires.

Banking

Q: Is TruResidence guaranteed to work to open bank accounts?

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 true U.S. home address for proof of address.

Q: Do you maintain a list of banks that I can use?

Unfortunately, no. It is because banks have varying underwriting practices and may take into account factors such as the type of business, the owner's background, 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.