Are tenants really willing to pay online?

[Rachel Shepherd]

Good afternoon! How many of you collect rents online and do tenants like it or seem bothered by having to set it up etc? I feel weird with tenants knowing our home address to mail checks. We are buying two new investments but our only investment right now is a SFH that prefers to do direct deposit. I would like to use Cozy or some other online place to collect rent. Thoughts? Thanks

[Mike Makkar]

@Rachel Shepherd Yes! I use cozy.co very actively and I love this program.

I evaluated 3 other online rent payment software before selecting cozy.co. Out of all my rental properties 60% of my tenants use cozy to pay. 10% pay with paypal. And 20% write post-dated checks and the 10%, I drive to collect rents, :( (They don't have checking accounts).

I write cozy.co payments into the lease. You're the landlord, so your tenants can abide by your rules. 

One of my connections, @Jeff Gates says he has come across 49 other rent payment systems, so you may have other better insight beyond cozy.co