All Forum Posts by: Lucas Hall

@Jon W.

Unfortunately, I do not know. Each county has their own minor rules and processes. I suggest checking your local county court website and inquiring with them.  Usually, when you fill out the "unlawful detainer" form at the courthouse, they'll be able to give you an estimate of how long you'll have to wait.  

Alternatively, you could try "cash for keys"  where you pay the tenant to leave, if he'll leave by friday and leave the unit in good condition.  But on the flip side, it's emotionally difficult to give money to someone who didn't pay rent. 

Hi Jonathan

From one landlord to the other, I suggest you handle nonpayment situations quickly and effectively. As soon as a tenant misses a payment, send them a standard "10 Day Notice to Pay or Quit" according to 68 P.S. §§ 250.501(b).  

Then, if they don't move out or pay up within 10 days, file an eviction action in your local courthouse.  

Follow the motto "If you can't pay, you can't stay", and don't be afraid to tell your tenant that.  It's a business for you, and if he's not going to pay, you need to get him out quickly so you can move in someone else. 

Good luck!

Hi @Dawn Anastasi, I wished for the same thing with my tenant's payments. Then Support showed me if you change your receiving account to be a checkcard for the desired bank account (instead of an account #), most banks will add the tenants last name to the transaction description. It's a small change in Cozy for you and I, but it drastically changes how banks display it. 

Go into Cozy, add a card, and tell your leases to deposit money there.  You'll start seeing last names in the transaction (for most banks). 

I hope that helps!

Hi @Mel Hayes

Great question.  The reason why Cozy requires both the landlord and tenant to create an account is because we take security very seriously.  The good news is that you don't have to actually setup a real "lease" but rather you just have to tell Cozy about the details of the lease, like when it starts and ends, how much the rent is, and who your tenants are. The tenant then only has to add his/her payment information in order to pay rent. There is a fist-time bank verification required too, but it's not hard. With that minimal information, Cozy wil track the account balance in the lease and give you the ability to modify the rent, add offline payments and other charges. You'll thank us when it's tax time. Your tenants will thank you for making it easy and transparent.  

And btw, I completely agree with you that a landlord should never give out their account info to a tenant or get into the habit of stopping by to collect rent. It sends the wrong message and will make it easy for them to thwart an eviction. 

I hope that helps.  Just as an FYI, the BP community is a fantastic place to discuss products like Cozy with other members, but if you are looking for a direct answer from Team Cozy, the best and  official way to get a response is by contacting the support team. 

That's awesome @Justin R. Sounds like you're really streamlining your business!  Profits to follow!

Hi @George P.,

Good question. It's really just a precautionary measure.  While it does seem simple on the surface, we found that landlords were deleting properties that still had pending incoming rent payments, active leases, and incoming applications. Support is able to run through a checklist to make sure the deletion of a property won't affect incoming payments that a landlord might be counting on. Thanks for being a Cozy user!  Keep up the great feedback!

Hi @George P.

We have a great support site with FAQs that answer common questions like this.  Here's the answer to your specific question: https://support.cozy.co/hc/en-us/articles/20591613...

Hi @Gabe G.

5-6 business days mitigates the risk to everyone.  It's as fast as money can move via ACH and through the federal reserve without someone taking additional risk. The good news is that this week, we're rolling out faster payments (3 days) for a small per/unit fee in order to offset the risk.  If you had multiple tenants on a single lease, you'll probably pay the same as IPN, or less.  5 Day ACH will always be free.  Be on the lookout for the announcement! (@dawn anastasi - get excited!)

@Mel Hayes Cozy is completely free for landlords.  If the tenants want to pay rent with a credit or debit card, there is a 2.75% convenience fee that they would pay.  But they could still pay by ACH for free.

@David Chwaszczewski The biggest risk with giving your bank account and routing numbers to a tenant is if you are trying to evict them, they would be able to deposit a few dollars into your account, which would thwart your eviction efforts, and you would have no way to stop them. You'd have to stop all deposits or shut down your bank account (yikes!). Generally speaking, a landlord needs a way to stop/pause payments from a tenant on a per lease case - in order to properly handle evictions. Plus, some banks charge for each of these transactions, which is unnecessary. 

@Gabe G., @Ron Tafoya

Cozy is completely free for landlords and managers.  No processing fees on standard ACH payments.  Even the credit reports are no cost for the landlords.  Tenants have the option to pay with a credit card, but there's a small 2.75% fee that they pay for that convenience.  

I'm convinced that Business Travelers are certainly more profitable you're willing to put in initial leg-work to get setup.