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All Forum Posts by: Lucas Hall

Lucas Hall has started 9 posts and replied 114 times.

Post: What is the best E-sign Software/App that integrates w/ Google Dr

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

@Troy Nonnemacher hellosign.com is an amazing service. I’ve used it to sign leases for years

Post: Electronic Rent Collection

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hi @Kat Rathell,

Regardless of the class of property, or the rent amount. Rent payments are always free if the tenant pays via a bank transfer in Cozy.  If they want to pay with a credit card, debit card, or gift card, there is a 2.75% transaction fee imposed by Visa or Mastercard.  Cozy passed that fee on to the tenant if they opt to use a card, rather than a bank account. 

Post: New fourplex owner questions (utilities, rent, etc...)

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Thanks for the recommendation @Peter Schuyler

Post: Cozy users I have a few questions

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hi @Tony H., please contact Cozy customer support.  They will be able to give you the actual times at which payments get processed. It also depends on when on sunday they make a payment, and how they pay - whether via ACH, debit card, or credit card. 

They can be reached at "support at cozy dot co".

Post: Cozy users I have a few questions

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hi @Tony H., sorry I didn't make it clear.  A tenant is always in control of their own payments. They can setup or initiate payments, and then cancel them as long as it hasn't started processing yet. 

Once a payment is in process and the money is in transit, a tenant can't cancel a payment through Cozy.  

Feel free to reach out to Cozy customer support for really detailed answers regarding payments and charges. 

Post: Self-directed IRA company that charges per transaction?

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hi friends,

I'm looking to move some money from a trad IRA to a Self-directed IRA so I can use it to invest in real estate. I really like Equity Trust and Quest IRA as providers of a SDIRA, but they both charge a fee based on the amount of money you have in the account - essentially penalizing you for growing it.

Are there are any reputable SDIRA providers that charge per transaction, instead of by asset size?  

Thanks in advance!

Post: Cozy users I have a few questions

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hi @Tony H.

A tenant can't "cancel" the move-in costs, or any other bill you add to the lease.  They can however refuse to login to Cozy and can refuse to pay them.  That doesn't mean that they will go away. If you refuse to pay your electric bill, you'll have to face the music soon enough. 

Because payment processing takes 2-5 business days with Cozy (depending on the method of payment), if you need the money instantly, I suggest you tell them to bring a Cashier's or certified check before you hand over the keys.  

Post: What technology tools do you use as a landlord?

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102
Originally posted by @Jane A.:

Regarding Cozy, it will be great if it will be able to manage different entities from one account, so I will be able to send rent from different properties to different accounts.  

 Hi Jane!

Thanks for using Cozy.  In regard to your comment above, you can send rent from different leases to different bank accounts. There is no limit to the number of bank accounts you can link to.  You can also send the security deposit to a completely different account than where the rent is going. This has been a long time feature of Cozy.  

Post: What technology tools do you use as a landlord?

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hey BP friends, 

What technology tools do you use as a landlord?  How are you being a tech-savvy landlord in a digital age? What technology makes your life easier. 

I'm doing a little more research for a talk that I'm giving at an upcoming conference, and I'm curious to see what others use. 

For example, do you have any favorite...

  • phone apps (chat, photo, listings, calculator apps), 
  • online services (answering services, screening, listings, signing, rent), or 
  • hardware (which smart phones, cameras, door bells, voice controls, 3d walkthroughs, lockboxes or smart locks, wifi services, tv, etc)

Full disclosure... I work at Cozy but I'm NOT interested in knowing which online property management tool you use (ex. Cozy, Buildium, Appfolio, etc). I'm only curious about the other technology tools that make your life easier. 

Cheers!

Post: Cozy users I have a few questions

Lucas HallPosted
  • Rental Property Investor
  • Arvada, CO
  • Posts 146
  • Votes 102

Hi @Scott Rogers,

Feel free to reach out to Cozy support for any questions like this. They usually respond within a few hours. I've posted some initial answers below in ***bold.


Originally posted by @Scott Rogers:

Just looking into Cozy. it seems to be a interesting concept and may be useful with he right clientele how ever I have a couple questions I couldn't find answers to on their site.

If you have a tenet who is late on rent can you block cozy from taking partial payments? Accepting a partial payment can and will effect eviction process.
*** You can block tenants on a lease from making payments. This comes in handy during an eviction

And assuming they do pay the rent in full through cozy late but do not pay the late fee. Can cozy refuse the following month rent until the outstanding (bill) for late payment fee is paid?
*** Partial payments are always allowed if payments are turned on.  This is to acCommodate roommate situations where each pays a portion. Soon, Cozy will have automatic late fees, which get added every month if the total bill is not paid. 

If you require them to get and maintain renters insurance through cozy, which seems to offer protection for tenant damage to the property as well.  Do you still collect a full security deposit or smaller adjusted deposit or use the policy to protect your interest?  In our area many of the large apartment complexes allow tenants to get insurance instead of a security deposit but I dont know the details.
*** It's a best practice to always take a deposit.  Renter's insurance doesn't cover small property damage, or in situations where they didn't clean well enough and you have to hire cleaners.  Insurance should never replace a deposit, plus there's the mental block that if a tenant doesn't have any "skin in the game", they will damage your property more.