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Updated over 7 years ago on . Most recent reply

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18
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Kristi Beeksma
  • Woodbury, MN
2
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18
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cozy co rent collection with roommates

Kristi Beeksma
  • Woodbury, MN
Posted

Planning to use Cozy for rent collection for a property housing 4 roommates, and it looks like it has a feature to request payment and collect from each of them individually.  Does that work for people or do you just have it set up for one payment from just one of them?  seems easy to set up initially, but wondering if I should charge whomever is late a late fee individually - just didn't seem like all should be penalized if they were on time with rent.  Also, one roommate has a dog, so they offered to pay the extra $50/month required for the pet.  Any thoughts on this based on these online rent collection programs?  thank you!

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
10,048
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

@Andrew B. gives you some good advice, @Kristi Beeksma

If you are renting by the room, then collect by the room. If you are renting the entire house, tell them upfront that THEY need to designate one person to pay the rent. That one person is responsible for making sure you are paid every month. 

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