Forms of payment for security deposit and 1st months rent

[Brian Loibl]

So I just accepted someone for a unit in my duplex and are having them provide certified funds for the security deposit and 1st month rent. I will then use Cozy for their regular rent payments. I then got to thinking if it is possible to use online sites like Cozy to accept those initial funds instead of the traditional certified funds. Has anyone used something like Cozy for accepting these initial funds or am I restricted to just certified funds?

[Kyle J.]

@Brian Loibl  I only accept cash, money order, or a bank cashier’s check for payment of the initial first month’s rent and deposit.

Cozy is great for collecting rent once they’re an established tenant, but I wouldn’t accept payment of those initial funds from a new tenant. There’s been several post on here like this one where Cozy payments were later reversed. It’s rare but it has happened, and you don’t want to take a chance with a new tenant who’s unproven.