Madison, WI · Member since 2015 · 1 post · 0 votes
Any landlords out there used this cozy.co site to collect rent? Free service, seems great, best part is they set up direct deposit from your tenants account to yours so rent is always on time.
I haven't used that. I use both larger banks and local banks which give tenants many options for payments such as: email, text, in person, over the phone, online transfer etc. It's possible for the tenants to set up automatic payments with some of those options also. If cozy.co looks good and is free I like making it convenient for me to get paid but there are many good options through banks if you don't like that one or if they try to charge fees.
I just did my first rent collection last month using erentpayment. It's $3/transaction but it was smooth and I got a human on the other end of the line the one and only time I called. I'll eat the $3 for that sort of convenience and service.
I have a tenant requesting to set up autopay and was thinkin about using cozyco. It is free and seems to be pretty user friendly to set up
I might be a little paranoid but with all the cyber attacks out there, is it safe?? Who is liable if the tenant's money is stolen? Seems like the risk could be potentially high.. Maybe someone could shed some light on this??