Any Issues with Accepting Cash App?

9 Replies

I have an inherited tenant that would like to pay using Cash App. I am all set up on Cozy and that is my preferred way to collect rent. I don't mind them using Cash App, but was wondering if anyone knew of potential issues with accepting rent via Cash App.

@Tarsha Stewart I would be interested in the downside of this as well. My tenant base consist primarily of college students and they love the convenience of the mobile apps. As I scale, I’m planning to look into Cozy (or a competitor) but thus far... it’s been easy and convenient for all of us.

@Tarsha Stewart

I use the Cash App for a few of my tenants, but I’m switching everything to Cozy. The Cash App has a few faults that aren’t suitable for landlords:

- You can only cash out to one account. This can become an issue if you need to deposit rents to multiple accounts for different properties.

- No real way to keep income organized. You can’t really categorize your tenants for each property and it can get confusing.

- There isn’t a live customer service line. If there are any ever technical difficulties, you’re forced to work through it via email.

  @Felicia Hamilton thanks.  I ended up switching them to Cozy because I was worried about partial payments or them saying they sent a payment I didn’t receive. Cozy does allow for you to divide rent and other assessments by tenant that could be great for college rentals.

Last I checked Cozy accepted partial payments...... which I don't like being unable to decline that option. Plus I hate the delay with Cozy....free but slow..... There was also an issue posted recently about Cozy and if the tenant uses CC they can use the CC to fight a payment, and Cozy takes the rent back from you etc..... do a search. Cozy is decent, but overall its got some shortcomings...
I use Zelle and the $$ is in my account pretty much instantly.

@Ned J. wow! Good to know. I can see how the CC reversal could be a big issue. Cozy is slow for sure but I like the idea of listing vacancies and doing background checks in the same place. Have you used those features yet? If so, what did you think?

@Tarsha...... I use Cozy for my listings and applications and background etc..... I like those features...... I don't use any of their other "features" and I prefer my payments get to me as quick as possible. I self manage and do my own accounting for 3 properties