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Updated about 9 years ago on . Most recent reply

User Stats

96
Posts
23
Votes
Joe Henry
  • Web Developer, Real Estate Investor
  • Jacksonville, FL
23
Votes |
96
Posts

What forms of payment do you accept?

Joe Henry
  • Web Developer, Real Estate Investor
  • Jacksonville, FL
Posted

What is the norm for accepted payment forms? (eg, cash, money order, etc)

Why do or don't you accept certain forms of payment?

Most Popular Reply

User Stats

86
Posts
68
Votes
Scott Ellis
  • Investor
  • Spokane, WA
68
Votes |
86
Posts
Scott Ellis
  • Investor
  • Spokane, WA
Replied

I've LOVED Cozy. It's a free service to collect rent via ACH and manage your units.  We only have three tenants, and not a single one complained about ACH.  Cozy manages the account numbers, so no one can see the other's accounts.  We we loved the most was that the tenants set up auto-draft.  Their payments are on auto-pilot and we haven't had a late or missed payment in over two years.  I think this is because, if they know it's coming out automatically for rent, they make sure the money's there for it; and it's some other bill that gets paid laid if money's tight on a given month. Cozy also allows you to request a one off fees, such as a maintenance bill or if you're splitting any utilities.

It's free for managing tenants and collecting rent.  They make money by integrating paid background checks into the system.  

There are probably better systems if you have dozens of units, but I couldn't be happier with how they've worked out for us.

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