All Forum Posts by: Will Yee

I'm experiencing this right now. I had an applicant submit their request Tuesday and it's still not back. 

Smartmove was always within minutes. 

I'll probably switch back to smartmove after this.

I wouldn't pick it up if you can avoid it. ACH is the way to go. 

We use Cozy.co. The tenants create an account and manage the payment method on their side. They can set up ACH for free or pay with credit for a fee. It's completely free for landlords and the payments hit your account within a couple days. 

My offers say my name or LLC to be named later.

Congratulations on the duplex @Bryce Bradshaw!

I've been using cozy.co to collect rent for our SFH for the last year with no complaints. The tenants can pay via ACH for free or credit card with a fee. The funds typically hit my account in about 2 days.

I understand that cozy.co also offers application and screening but I haven't used those features. 

Good luck!

I use Cozy for my SFH rental and don't have any issues. I'm only using it to collect rent. The tenants have the ability to pay with a CC for a fee or via ACH for free.

The payments automatically deposit into my bank account 2 days after they submit their payment. There is no fee for me to use the service as a landlord. 

We had a similar situation with our SFH. We did give them a chance to explain. We also looked at their employment income and it met our requirements.

One thing that we did do, and this was actually offered by the tenants before we asked, was have them provide a certain number of months of pre-paid rent. Whatever you need to feel comfortable with the increased risk. This pre-paid rent is for the last months, in this situation 3 months, of the lease. This is not an additional security deposit. That would involve other legal requirements (paying interest, etc). 

Thanks everyone for your input!

Definitely some things that I hadn't thought about. We're leaning towards letting them do it, but will need to make sure that we have a very clear agreement in place on what they need to do and that it will become property of the owner. 

@Mel C., I was wondering that too. Or if they would have any claim to get some money back at some point. They've already stated that they would cover it and wouldn't require any break on rent or reimbursement. But it seems with legal issues that what seems logical, never turns out to be so logical...

That's pretty much where we are, just want to make sure there aren't any pitfalls we're not seeing. 

Hey BP,

I have a new tenant who just moved in on May 1st and are under a 2 year lease in our SFH 3Bed/2Bath property.

So far they've been great, very friendly, neighbors like them, paying on time, etc. No issues.

They've asked if they can replace the vinyl flooring in the kitchen. It could definitely use some updating. We would choose the color but they would cover the costs and do the work. The kitchen isn't big and this isn't a big job. Shouldn't require anything major to complete. 

My initial reaction is that I'm not opposed to them doing the work since we're not talking about something really involved like electrical or plumbing. Are there any issues with having them pay for it or should I pay for the materials at a minimum? They're willing to cover all costs, they would just like to have a nicer floor in the kitchen while they're in the property. 

Anyone else have experience with Tenants doing improvements? Any watch outs?

Thanks for any advice!

Will