All Forum Posts by: Alyssa K.

@Clinton Davis my understanding now after having heard from a few people on this thread is that the tenant can in fact still dispute funds through PayPal. It seems as though cash, certified funds, or multiple bank accounts are how others are ensuring the tenant cannot relinquish funds they’ve already paid after the fact. I do know I have been warned by various mentors not to use the friends and family option when paying contractors for renovations. They could apparently easily take the money and run before completing a job with little to no recourse when f&f is used.

@Eric C. Me as well! Thank you!

@Tyler Dunlap definitely a great point!

@Kai Van Leuven I’d be interested in their response as well.

@Jess White that’s where I’m at now that I’ve had a minute to put my own personal irritation in check. Can’t complain too much about a free service that allows me to manage my rentals passively and professionally. The issue here is certainly the tenant, not the service. If it happens again, I’ll have to change the method of delivery for them. I have another tenant that I haven’t spoken to in 6 months and the checks keep coming thanks to Cozy. If anything I’ll amp up my initial screening to avoid tenants that aren’t responsible enough to pay through Cozy.

@Jose Torres it was reported by Cozy as fraud in error, the tenant had insufficient funds. Her paycheck hadn’t finished clearing when Cozy withdrew rent from her bank. Apparently if you have express pay Cozy floats the tenants rent on the 3rd day if a payment has been made but has not yet been processed (or kicked back). When the payment finishes processing they pay themselves back. Because her payment didn’t clear, they withdrew the funds they floated/deposited into my account. She has scheduled another payment, but because of her bounced “check”, Cozy took her off express pay for this next payment.

@Chris Virgil-Stone absolutely! Hope you are able to get everything resolved quickly!

@Lee Falkenhagen no particular reason other than Cozy was recommend to me here on BP, and offers me the ability to complete more steps of my process than a straight money exchange program would (background/credit check, rest analysis/estimator, offers the tenant the ability to make service requests etc.). I’ve been very happy with Cozy, this situation just took me aback because I didn’t know it was possible for them to withdraw funds that had already been deposited. From what others have said, it sounds like this is a potential risk with any ach transfer.

@Al Pat thank you! I plan to look into these.

@Alexander Lang This was the first issue I’ve had with them, otherwise Cozy has made managing my own properties really simple.