Tenant cloud and cozy.co

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Tenant cloud and cozy.co

Lindsay Repp
Investor · Youngstown, OH · Member since 2014 · 27 posts · 7 votes
Hello everyone! I am shopping for an online rent company. Does anyone have any experience with cozy.co and tenant cloud? I would love a comparison of the two. Any and all opinions welcome!
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Mike McGee
Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
10y

I'm using both as well, and they both have their pros and cons. TenantCloud gives you a free landlord / company website, which is nice. (Coincidentally, I was going to post a link to my TenantCloud site, but I just went there and it's down! Oops! Looks like their whole site is down. I submitted a ticket.) Anyway, from your website, prospective tenants can find your current listings and apply online. The problem is, I don't really like their online application, and you can't really edit it. You can add some Yes/No questions, but you can't add any text field questions. I also don't like the prospective tenant's process to complete the application. First they have to create a TenantCloud account, wait for a confirmation email, click on a link in that to confirm, and then start the application. Then, it's just not intuitive for the user to complete.

Then, the real problem is it doesn't include credit checks. Just recently they added background checks, but still no credit checks. So, after filling out the application I'd have to make the prospective tenant go and fill out something else to get a credit check. Too much trouble.

Cozy has a more simple and intuitive application and process, and it includes the credit and background check. So the prospective tenant fills one thing out and you get everything you need. I still have some complaints abut their application. (It has things like employment and rental history marked as "optional," and I can't change that. Hello!?! Those should be required fields, or at least I should have the option of making them required!) Still, it's pretty decent overall.

Cozy has web pages for individual listings, but no "company" or "landlord" website. So, I can't have a single URL to give people or put on my yard signs or business cards so people can see all of my available inventory.

So, I end up using TenantCloud for my main website and Cozy for the application / background / credit checks. The problem is, there is an "Apply Now" button on each listing on the TenantCloud website, which goes to their application, and I can't disable it. So I get some people filling out that application, and then I have to direct send them the Cozy link and apply there. 

Basically, if Cozy would provide a company / landlord website, it would be a good one-stop shop. Similarly, if TenantCloud would offer credit checks and improve their application and process, it could also be a good one-stop shop.

As for electronic payments, I'm using QuickBooks. I hear Cozy payments are pretty decent, too, but kind of slow. As @Dale Stevens said, TenantCloud payments just ties in Dwolla or Paypal. I also don't use TenantCloud's accounting features because I use QuickBooks for that, too. 

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  • Ketan Patel
    Kansas City, KS · Member since 2015 · 33 posts · 2 votes
    10y

    I only recently started using cozy.co (not tenantcloud.com).

    So far cozy.co seems good. Was able to have a renter complete an application and also a screening. Got great detailed results for both. The renter paid for the screening. Online payments are free. Not sure I need anything else as a small owner :)

    0Reply
  • Ketan Patel
    Kansas City, KS · Member since 2015 · 33 posts · 2 votes
    10y

    The TenantCloud features for free websites and cloud storage seems quite attractive though. Only thing missing is online screening. 

    0Reply
  • Sarnen Steinbarth
    Commercial Real Estate Broker · Fort Collins, CO · Member since 2015 · 308 posts · 151 votes
    10y

    @Lindsay Repp  Are there particular features that you have comparison questions on?

    - Marketing 

    - Online Applications

    - Tenant Screening

    - Rent Payments

    - Accounting

    - Maintenance Management

    - Notices

    - Lease Signing

    Etc.

    I think you will find that all services have pro's and con's.  And not all will have all features.

    0Reply
  • Lindsay Repp
    OP
    Investor · Youngstown, OH · Member since 2014 · 27 posts · 7 votes
    10y

    I am mainly looking to switch to online rent payments. @Sarnen Steinbarth  but I suppose just looking for which offers more. 

    1Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    10y

    I use cozy. Slow, but good. I also use erentpayment for tenants that don't want to set up recurring payments, and it also works well. It costs $3 per payment and I have the tenant pay that cost since I offer two free services.

    Podcast Guest on Show #243
    Skyline Properties
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    1Reply
  • Joe Edgar
    Austin, TX · Member since 2015 · 21 posts · 14 votes
    10y

    Here are two reviews that compare the offerings.  Note they also include other systems.

    http://listoffreeware.com/list-of-best-free-online...

    http://realtybiznews.com/top-6-free-property-management-software-solutions/98729958/

    4Reply
  • Donna Sommers
    Vendor · Austin, TX · Member since 2014 · 79 posts · 18 votes
    10y

    @Ketan Patel , actually they do have online screening, as well as rent payments btw.

    3Reply
  • Lindsay Repp
    OP
    Investor · Youngstown, OH · Member since 2014 · 27 posts · 7 votes
    10y

    Thank you for the input everyone! This has been a big help in my decision! 

    0Reply
  • Kimberly H.
    Residential Real Estate Broker · Chicago Suburbs, IL · Member since 2013 · 1k+ posts · 594 votes
    10y

    We are also trying to figure this out. I saw a webinar the other day which happened to include what the Cozy.co credit report looks like for a tenant. Was by far the easiest to read one I've seen, and I have used 3 others so far.

    What I really need is excel spreadsheet showing who has what features...

    1Reply
  • Dale Stevens
    Investor · Downers Grove, IL · Member since 2015 · 353 posts · 213 votes
    10y

    I have used both, but for different things. Use Cozy.co strictly to collect rents online, as they offer debit card, credit card (fee charged to tenant) and ACH collections. TenantCloud.com only allows you to tie into a Dwolla or Paypal account. But, Tenant Cloud is far easier to use via the app, for tracking expenses, inputting offline payments getting reports, etc. 

    The one knock for me against TenantCloud, which they say will be released soon, is having multiple user accounts for management staff. 

    0Reply
  • Mike McGee
    Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
    10y

    I'm using both as well, and they both have their pros and cons. TenantCloud gives you a free landlord / company website, which is nice. (Coincidentally, I was going to post a link to my TenantCloud site, but I just went there and it's down! Oops! Looks like their whole site is down. I submitted a ticket.) Anyway, from your website, prospective tenants can find your current listings and apply online. The problem is, I don't really like their online application, and you can't really edit it. You can add some Yes/No questions, but you can't add any text field questions. I also don't like the prospective tenant's process to complete the application. First they have to create a TenantCloud account, wait for a confirmation email, click on a link in that to confirm, and then start the application. Then, it's just not intuitive for the user to complete.

    Then, the real problem is it doesn't include credit checks. Just recently they added background checks, but still no credit checks. So, after filling out the application I'd have to make the prospective tenant go and fill out something else to get a credit check. Too much trouble.

    Cozy has a more simple and intuitive application and process, and it includes the credit and background check. So the prospective tenant fills one thing out and you get everything you need. I still have some complaints abut their application. (It has things like employment and rental history marked as "optional," and I can't change that. Hello!?! Those should be required fields, or at least I should have the option of making them required!) Still, it's pretty decent overall.

    Cozy has web pages for individual listings, but no "company" or "landlord" website. So, I can't have a single URL to give people or put on my yard signs or business cards so people can see all of my available inventory.

    So, I end up using TenantCloud for my main website and Cozy for the application / background / credit checks. The problem is, there is an "Apply Now" button on each listing on the TenantCloud website, which goes to their application, and I can't disable it. So I get some people filling out that application, and then I have to direct send them the Cozy link and apply there. 

    Basically, if Cozy would provide a company / landlord website, it would be a good one-stop shop. Similarly, if TenantCloud would offer credit checks and improve their application and process, it could also be a good one-stop shop.

    As for electronic payments, I'm using QuickBooks. I hear Cozy payments are pretty decent, too, but kind of slow. As @Dale Stevens said, TenantCloud payments just ties in Dwolla or Paypal. I also don't use TenantCloud's accounting features because I use QuickBooks for that, too. 

    7Reply
  • Mike McGee
    Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
    10y

    Great! Support told me that was coming, but I didn't know it was live now. Thanks for the good news!

    0Reply
  • Mike McGee
    Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
    10y

    @Lucas HallI would like to mention on more thing about Cozy. In every case in which the prospective tenant admits in the application that they have a criminal conviction, the Cozy background check comes back clean. These are cases where the people were not minors and the convictions were only 5 to 7 years old. Makes me wonder how good the background checks really are, and whether other vendors (like SmartMove, for example) are any better.

    0Reply
  • Jeff Gates
    Investor · Cathedral City, CA · Member since 2014 · 481 posts · 170 votes
    10y

    Keep in mind these system just check a database. And report this quick and dirty data. Some more expensive system use real live humans to gain the results.

    1Reply
  • Mike McGee
    Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
    10y

    Cozy tells me they use real live humans too. Regardless, they say some counties just don't bother reporting to the national database. I that case, I imagine few would find the conviction. No service is going to manually check every county in the country.

    0Reply
  • Lucas Hall
    Rental Property Investor · Arvada, CO · Member since 2011 · 146 posts · 103 votes
    10y

    Hi @Mike McGee

    I don't know the details re: your specific tenants, but I can give you some insight into the process.  We've partnered with Checkr.com for background data (criminal, eviction, etc).  We selected them because they have the broadest reach of any company we researched. As for the criminal records, a more manual/detailed county level search is done when a national search triggers a hit. 

    According to Checkr, the main reasons that offenses aren't found are:  

    1. the person was a minor or tried as a minor at the time of the crime

    2. the offenses may no longer be reportable depending on the laws of the state where the offense occurred

    3. the offenses may have occurred in a county that does not report their records to the central national criminal database

    We do know some counties don't report their records to the national database - and some don't even put them online - which makes it difficult for any data provider to find. For example, I was just in San Diego for the CALNARPM convention, and learned that the only way to get criminal data in the city of San Diego is to file a physical request at the court house - in person.  Crazy right?!?

    So, that's the long-winded answer. Again, I can't speak specifically to your situation, but I can say that we've gone to great lengths to ensure we capture the most accurate data available.

    I hope that helps. 

    1Reply
  • Sarnen Steinbarth
    Commercial Real Estate Broker · Fort Collins, CO · Member since 2015 · 308 posts · 151 votes
    10y

    We recently partnered with TransUnion.  They handle tenant screening including credit reports and criminal background checks for a huge portion of the professional real estate / landlord/ property management world.  

    TransUnion's data has been used for millions and millions of credit and criminal checks. 

    They have over 200 million criminal records from both state and national sources and are leaders in obtaining data from hundreds and hundreds of sources.

    One advantage about getting both credit and criminal from the same source (instead of credit from Company A and criminal from Company B) is that TransUnion can use advanced matching technology to cross-reference data between the credit and criminal databases and eliminate false-positive results.  This is particularly useful when screening a tenant with a name like: Mike Smith. 

    Disclosure,  I founded Turbo Tenant

    0Reply
  • Jennifer L.
    Investor · San Jose, CA · Member since 2015 · 246 posts · 183 votes
    10y
    Mike McGee One other thing that might prevent a criminal conviction from popping up on a report: in some instances, if a person does well, they can have a conviction expunged from their record after completing probation. The conviction would still pop up for more sensitive employment searches like police officers or day care workers, but it wouldn't be reported on this sort of a background check.
    1Reply
  • Mike McGee
    Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
    10y

    A possibility, but I can't imagine people admitting to convictions on their application if they had been expunged from their record.

    0Reply
  • Mike Makkar
    Investor · Plano, TX · Member since 2014 · 188 posts · 149 votes
    10y

    I'm a big fan of Cozy.co!

    I moved from TenantCloud to Cozy because I fell in love with Cozy's interface. I love their technology, their business model (tenant pays a small surcharge for a self-directed credit check), and I hope they will keep improving their list of features for landlords. Believe me! I have a 30-item long wish list with them.

    However, I still have to maintain my Cozy connect links and a Google sheets spreadsheet for all my property tracking needs. I wish I could eliminate the spreadsheet and move everything to a cozy-like property management software with accounting and expense and ROI tracking, but I don't think we'd get there in this lifetime. I think as landlords, we just have too many things to track; expenses and their subgroups, taxes, insurance, purchase price, current market value, rest estimate, tenant details, etc etc. Cozy made a decision to keep things simple; tenant screening, rent collection and (very recently) to property promotion and it fits to their business model. I think I can live with it.

    On the subject of tenant screening for criminal, I suggest people start deep searching into local county court records. I deep search into 3 neighboring counties. Don't rely on results of online db's alone. As @Jennifer L.mentioned, one could hack their way into getting rid of even eviction cases from their record.

    2Reply
  • Jennifer L.
    Investor · San Jose, CA · Member since 2015 · 246 posts · 183 votes
    10y

    @Mike MakkarJust to be clear, expungements of criminal convictions are completely legal and signed off by a judge.  Theoretically, I suppose anyone could "hack" a government court record to delete an eviction. It wouldn't get rid of the hard file, though. I also figure if someone is smart enough to do that level of hacking, they could probably get a job that paid enough to avoid evictions in the first place. (Or engage in some profitable cyber-scheme to get the money to pay rent. ;-). )

    0Reply
  • Mike Makkar
    Investor · Plano, TX · Member since 2014 · 188 posts · 149 votes
    10y

    @Jennifer L., yes! I didn't mean computer-hack their way, but "hack" as in use legal maneuvering their way to not show up as a derogatory mark in their record. But my point is, if one searches the county court records, landlords can actually find the case histories and engage in conversations with tenants to do better due diligence on their histories. I've had experience with a prospective tenant who had a history of successfully screwing their landlords, due to having better documentation and a very competent attorney by her side.

    Ok, didn't mean to digress the conversation to criminal screening. 

    Let's go back to discussing cozy.co and tenantcloud

    0Reply
  • Mike McGee
    Real Estate Broker · Atlanta, GA · Member since 2015 · 65 posts · 25 votes
    10y

    @Mike MakkarI had the same desire to have everything in one place for tracking. Since I use QuickBooks for bookkeeping, I had planned to use QuickBooks Payments / Merchant Services for electronic rent collection. However, after signing up and going around and around with their tech help, it turns out that QuickBooks Payments doesn't work for QuickBooks for Mac! (Well, I can manually accept a credit card payment, but I can't send recurring invoices and accept ACH payments, which is what we really need.) They told me I could switch to QuickBooks Online which has email invoicing. But the QB Online version with class tracking costs $40/month, and I had just paid $200 for QuickBooks for Mac, which they told me would do what I needed! I can't imagine paying $480/year just to add electronic invoicing.

    So, long story short, I decided to use Cozy for rent payments. Wow, what a slick and simple setup! Totally different experience than QuickBooks. And my tenants already have Cozy accounts since we used them for the background/credit checks, so it's an easy and natural transition. Nice!

    1Reply
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    10y

    I use Cozy.co and it works Well.

    Podcast Guest on Show #29
    2Reply
  • Mike Makkar
    Investor · Plano, TX · Member since 2014 · 188 posts · 149 votes
    10y

    @Mike McGee, yes! I'm a disgruntled Quickbooks mac user as well. I used it for another business and yuck!

    I bet Cozy appeals to mac users out there! They've nailed the beautiful human interface part!

    Now, only if I can just get them to deliver on Item #1 through #5 on my wish list!

    1Reply
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