What's a good reputable online payment system to collect rents?

Realtor · Fairlawn, OH · Member since 2014 · 35 posts · 8 votes

I'm not a big fan of running around to collect the monthly rent or waiting around to see if the check is in the mail.

What's a good reputable online payment system to collect rents. Any suggestions or recommendations? Does anyone have any success using the Intuit QuickBooks Payment system? Looks like they have a low 50¢ per transaction for ACH/bank transfer and checks. I'm only using the desktop version of QuickBooks, so, I'm not sure if it'll work.

Open to any recommendations!

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Robert Lindwall

Investor · Belvidere, IL · Member since 2014 · 2 posts · 2 votes

10y

I have been using Cozy.co, and I would recommend it. The service is free for both landlord and tenant. They do have a float of 5 days, so that is were they are making their money. They also provide two options that I find beneficial. 1) the ability to schedule payments through out the month. 2) they allow you to add additional charges to the tenants account (i.e. Water, late fees, etc).

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Robert Lindwall
Investor · Belvidere, IL · Member since 2014 · 2 posts · 2 votes
10y
I have been using Cozy.co, and I would recommend it. The service is free for both landlord and tenant. They do have a float of 5 days, so that is were they are making their money. They also provide two options that I find beneficial. 1) the ability to schedule payments through out the month. 2) they allow you to add additional charges to the tenants account (i.e. Water, late fees, etc).
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Bryan O.
Specialist · Lakewood, CO · Member since 2014 · 1k+ posts · 1k+ votes
10y
@Mike Walker I use Cozy.co and the Quickbooks ACH payment. I actually like Cozy better because it is all automated, and if tenants split the rent you never see or care (as it should be). You get 1 deposit, and that's that. The payment features are free. Cozy has been rolling out new stuff quite a bit. The lead time @Robert Lindwall mentioned is down quite a bit. I get my payments from Cozy on the 5th-8th. I haven't tried their other services (background checks, etc.) because they really sucked before. They've been upgrading those, so they might be decent now.
Cozy people do roam the forums here, so maybe one will pop in and say hi.
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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y
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