But the problem is, everyone I reach out to (I've only tried two so far) has said they have a minimum of 100-500ish units. I'm going to have 8. What do you recommend?
Investor · Tulare, CA · Member since 2014 · 34 posts · 23 votes
8y
There has been a few threads about this recently but I currently use Cozy.co and have been really happy with their service. They also are adding on additional features such as estimated rents and maintenance requests from the tenants in their suite. I suggest you check them out.
Rental Property Investor · NJ · Member since 2017 · 20 posts · 8 votes
8y
I have a three family house and I use cozy for collecting rent and also doing credit checks and background screening. It’s amazing You can also list your property on it.
Cambridge, MA · Member since 2015 · 651 posts · 736 votes
8y
And yet another vote for Cozy.co. It is free. I have 3 rentals that are rented by the semester or academic year which means my tenants turn over at least every nine months and frequently every 3 or 4 months. None of my tenants have been late in their payments since I started using Cozy.co. I don't have to remember or remind them. Cozy.co encourages the tenants to set up payment schedules which means the rent is automatically deducted from the tenant's account each month. If they choose not to schedule their payments, Cozy.co sends the reminder emails, not me...
Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
I'll add another vote for Cozy. They are reliable, easy to use, and free (unless you need expedited payments) for both you and your tenants.
They do their processing using a tier 1 payment processing company (Stripe), which is backed by Wells Fargo... so it's unlikely you'll see any significant payment issues like a competitor's recent issues.
Investor · Riverside, CA · Member since 2017 · 52 posts · 22 votes
8y
I've used cozy and venmo before. I like using Zelle because it's immediate and 99% of US banks use Zelle. The money is transferred immediately and no 2-3 business day waiting period.
Rental Property Investor · Tyler, TX · Member since 2016 · 198 posts · 89 votes
8y
I use Cozy.co to collect online for 7 tenants, soon to be 8 & 9. Those that can’t access online pay by depositing rent into a business account we setup around the corner. If you can wait the 5 business days to receive funds, it’s great. You can pay to receive the in 2 business days, but we haven’t expedited receipt of funding yet.
If my accountant didn’t push me to use Quickbooks for bookkeeping we would use Rentec Direct. It looks like it would be great management software and expedited funding for established businesses.