Does cozy send the land lord a reminder every month?

13 Replies

I'm new to this world. I had my first tenant sign up for cozy last month.  On the 26th last month I received an email that the rent was coming due and that payments have been set up. A couple of days later I received an email that the payment was being processed.

This month I have received no such emails. Is this normal? I haven't mailed out any invoices because Cozy sends them and why waste my time and money but now I'm wondering that if somehow through some kind of computing error does Cozy not send invoices or process payments.  Rent is due on the 1st but not late til the 5th. I am going to start sending monthly invoices immediately.

I always get an email from Cozy letting me know that the payment is "in progress" (starting to transfer), and another when it is processed (transferred).  Not sure why you'd need to send an invoice though since Cozy's payments are automated and no action should be required on the part of the tenant.  Have you tried logging into your Cozy account to check the status?  It should tell you where it's at.

Kyle J. I did check and the payment is not pending yet. 

This must be your first month receiving rent. I was very nervous too, but the payment is usually done by the end of the day. (unless they decide to manually do it before)

It also doesn't say weather or not auto pay has been set up.

Originally posted by @Daniel Suarez :

This must be your first month receiving rent. I was very nervous too, but the payment is usually done by the end of the day. (unless they decide to manually do it before)

 Pretty much. I rented it in late December. First month rent was paid to the realtor I hired to market the house from which she took her fees and paid the rest to me. February's rent was paid early. I will feel a whole lot better once I see that payment is pending.

@Thomas Robb  Here's what mine looks like for a current tenant on auto pay with a monthly payment date of the 3rd:

Mine doesnt say scheduled it just says due on and under type it says recurring.

Originally posted by @Thomas Robb:

Mine doesnt say scheduled it just says due on and under type it says recurring.

I'd check with Cozy to make sure the auto pay is setup.  There should be a status listed, something like upcoming, in progress, completed, etc.  If you don't see that, it may be that the tenant didn't setup/authorize auto pay. 

Here's some more info on checking the status of a payment:  https://helpdocs.cozy.co/article/263-guide-to-online-rent-collection#status

I used to get so nervous around the 1st of the month and would check our Cozy account non-stop!  That feeling will pass (took me about a year).

For new tenants I just send a text reminder on the 4th if their payment hasn't initiated by then.  Never had a problem.  Also, if your tenant manually pays they may initiate their payment based on when they get their paycheck.  Anyone paid biweekly will be paid tomorrow.

I checked she hadn't set up auto pay with Cozy so I sent her a link to instructions on how to set it up.

The payment is now in progress and she has signed up for auto pay but I still haven't received the email from cozy.  I would be nice if they updated me in real time and even CC'd me when they send my tenant their monthly invoice.

@Thomas Robb I don't get any updates except for the important ones: Payment begun, Payment posted. It shouldn't matter to you if your tenant sets up auto pay or manually initiates each month. That isn't your place. They do send the emails each time the payment initiates and then posts, so you would have notice and can make sure they are paying on time.

So far, I have had good experiences with Cozy. I was also able to use it to add additional charges without too much difficulty (i.e. tenant clogged pipes and had to pay the plumber).

@Bryan O.

I actually don't care if she set up auto pay or not but I did recommend it. My confusion occurred because I thought I remembered her telling me that she had signed up when we first set up the account and because I have not received any communications from Cozy in over a month. The previous month I had received an email telling me that the rent was due soon and later that day that the payment was being processed. That was more than a month ago I haven't received any communication from the since except yesterday when I emailed them about why I haven't been receiving updates.

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.