Cozy is ideal for investors who manage their own rentals or property managers who have fewer than 20 units. While the services of Cozy are helpful overall, companies that oversee dozens of properties may require more financial reporting and communication features than Cozy can offer.
The listing functions allow you to advertise your property with photos, write-ups, policies, and terms. Use a shareable link to spread the word, or syndicate the ad on Realtor.com and Doorsteps.com.
Using nearby comps and area trends, the rent estimate feature helps you determine and set fair rental prices. A localized analysis report helps you price your place right for the neighborhood and reduce turnover time.
When potential tenants fill out applications on Cozy, you can compare information side-by-side. You can also save contacts for potential future openings.
Credit checks and background checks, including criminal and eviction histories, can be run through Cozy and paid for directly by the applicant.
Automate the receiving of payments either via ACH or credit card. Set additional fees as needed. Payment processing is coordinated through Stripe
, an international online payment corporation.
Tenants may either upload their third-party policy or purchase renter’s insurance through Cozy.
Track expenses per property, complete with vendor names, comments, photos, and receipts. Export reports via CSV or PDF formats for tax purposes.
Tenants can request repairs via Cozy, and you can update them with progress. Upload photos and receipts to keep detailed records.
In its most basic form, Cozy is free for landlords. There are a few enhanced tools that cost money, though:
Rental pricing analysis: $19.99
Express payment, expediting ACH deposits into your account in three days: $2.99 per transaction.
Cozy offers a number of tools that tenants can pay for, including:
Screening reports: $39.99 for both credit and background checks, or $24.99 individually
Credit card payment fees: 2.75 percent
Renter’s insurance: $20 per month.
- Intuitive and easy to use
- Helpful tools save landlords time on listings, collections, and applications
- Responsive support services
- Can set up one-time payments that differ from normal rent payments
- Rent payments listed by transaction number instead of tenant name
- Accepts partial payments
- Cannot turn off credit card payments
- No Spanish translation
What Kind of Investors Should Use Cozy?
Cozy is a wonderful tool for many landlords, but it’s not right for everyone. For landlords and managers who oversee a handful of properties, Cozy could be a great fit. It’s got basic services that help with the most tedious parts of the rental process—and you can’t beat the price tag. However, large investment or property management companies may find that Cozy doesn’t have the kind of features they’re looking for. At the 20-plus door level, companies should probably look into paying for more comprehensive management software.
Most users appreciate the application and payment collection functions more than anything. Steven Myers from Wichita, KS, says
, “I have been using Cozy for applications and payments for a few months. It has been a lifesaver over just accepting checks and paper applications. It's very intuitive from both sides of things and I haven't had to spend a single cent yet on it. Fantastic all the way around.”
Nathan Bost from Raleigh, NC adds
, “Setting up the new tenant was a breeze. No issues setting up a pro-rated payment. Tenants love the auto-draft and I do too! Thumbs up from me!”
Dan Whisman from Ohio manages nine properties with Cozy. He says
, “Screening my tenants has never been easier. When a prospective tenant comes out to look at one of my properties, the first thing I do is hand them a sheet of paper with my rental requirements on it. At the bottom of the sheet is the address to the application page in Cozy for my specific property listing. The prospective tenant can go to Cozy, fill out an application and approve and pay for a credit and background check. I get an email when everything is complete and I go to Cozy to review everything and decide if I want to rent to them.”
In addition, users seem to appreciate the support available after signing up for Cozy. Whisman goes on to say, “They are quick and thorough with responses to questions.” Even users who may not have been happy with the answers to their questions reported a good interaction with service professionals.
However, some users note issues with waiting for deposits. JD Martin of northeast Tennessee says
, “It's a little slow on transferring funds—about 5 days—but if you're not desperate for the money you can see it's coming as you get an email that the transfer has started.” Using the Express Payouts feature would help, if timing is an issue to your business model.
Bigger Pockets forum contributors share similar opinions. Donald S. from St. Louis, MO, says
, “Overall I like Cozy, and would recommend it to DIY landlords and small property managers.” And Justin Foster from Tulsa, OK, also thinks that
“Cozy is a good service if you have a few rentals. It’s essentially free to you, and I have found it to be the best for low cost management.”
Julie Marquez in Seattle, WA, recommends Cozy as a launching point, saying
, “It is a great free tool. Though other property management tools offer more capabilities, they also charge more. I guess it depends on what you need, but I think Cozy is a great place to start.”
Our editorial team’s recommendations are a result of their independent and vigorous research. Our writers and editors are never made aware of which companies have established partnerships with our business team prior to writing their reviews.