Cozy

[Michael Mozie]

Hello all, I am brand new to real estate investing and I am in the process of purchasing a quadplex, hopefully close by January!  I have been researching the subject thoroughly and I came across a website called Cozy.  Apparently you can create leases, applications, receive rent, and perform credit/background checks through here.  Does anyone use this site, and if so do you recommend it?

[Mathew Zorn]

Hello all!!! I actually use Cozy for 13 months now and love it! When I started it they only did rent collecting, credit checks, back ground checks, add credit for any outside payments collected and even add extra charges for lease violations and NSF fees.

Now when starting a new lease you can have the tenants up load renters insurance policy, when there’s maintenance issues they can use Cozy to inform the PM/owner (whoever is in control of the cozy account), you can track your expenses for each property/apartment, and they also have FAQ’s for the tenants and for the landlords.

I recommend the PM/Owner read both the tenant and landlord FAQs so they know the full capabilities that Cozy has for both parties.

My tenant has now used the “I had to close out my bank account, which is why I the payment didn’t go through” speech for the second time now and I emailed Cozy customer service and asked

“Does cozy track when a tenant or landlord change bank accounts? If Cozy does can the tenant provide that information to the Landlord if the landlord asks the tenant for the information. I do understand that Cozy can not provide that information.”

They responded “In short, yes, Cozy keep a record of each payment that's made through Cozy, including the account it was sent from on the tenant's side, and the account it was deposited to on the landlord's side.

Your tenant can also see the account they used for each payment within their account directly, so they wouldn't need to request that information from Cozy.”

The only thing Cozy doesn’t do is write up the lease agreement they will note the length of the lease and you can record deposits and such.

Sorry so long but I hope this helps every that reads it!

Good luck!

Matt