How are you guys collecting rents?

[Marvin Bobb]

Hey guys how are you guys collecting rent right now

[Anna Malcolm]

@Marvin Bobb We currently use Rentler (the free version) I think there is a paid version not sure. But we've been using it for over a year for 4 units.

[Marvin Bobb]

Thanks Anna I’m gonna check it out. 

[Garen T.]

I have 2 units paying with Zelle, and 2 roommates in one unit uses cozy.co which I love. Next time around, I'm going to put it into the agreement that they have to pay via cozy, or something similar. 

[Charles M.]

I've been using Zillow to post my rental, esign my leases and collect rent. No fees unless they don't pay by bank deposit, which incentivizes them to want to set to autopay. There are fees if you list multiple rentals at once, which by the time I have that problem, I'll be at enough units to outsource the property management.

[Leonard L.]

@Marvin Bobb I use erentpayment. It's a decent service though it does charge a fee for online payment, they provide options on how to split it between you and the tenant. In my case, I have the tenant pay the fee but offer them a small discount on the rent for online payment.

They also offer a credit card option and credit Agency reporting as well.

[Rudy Avila]

Direct Deposits , Cash, Zelle, Cash App, Paypal 

[Erik B.]

COZY.  Have then set up automatic payment and deposits right into your account. Only downside w cozy is it takes at least 5 days to reach your account. 

[Theresa Harris]

etransfers and post dated cheques.

[Paul K.]

I'm a big fan of Cozy. Easy to use for automatic rent collection, maintenance requests, screenings, etc. It's been working great for my rent-by-the-room rentals as well.

[Ian Walsh]

Online portal works great.

[Marvin Bobb]

@Garen T. Cozy? I'm gonna look into that. Never heard of this one. Thanks

[Marvin Bobb]

@Charles M. 👍

[Marvin Bobb]

@Leonard L. I like that win win situation.

[Bob Stevens]

@Marvin Bobb not really sure how to answer that , tenants make a deposit at the bank or pay through their online portal 

[Peter Tverdov]

We use Appfolio for 90% of what we manage and Cozy to a lesser extent. I am shifting away from Cozy. They started asking for SSNs for all of our accounts, each year and then asked us to update it each year. Then threatened to  (and eventually did) suspend our account when we wouldn't give them the same SSN for the 4th year in a row. Cozy is free but it takes 5 days to clear. I honestly rather go back to check then use Cozy at this point.

[Leslie A.]

@Marvin Bobb. I opened a bank account very close to the units and had them deposit it there. If they requested, I sometimes picked it up if I was going to be in the area.

[Todd Ashley]

@Marvin Bobb

I use Cozy for my normal rentals, but I have done a poor job of managing my rent by the room rentals. Does each of your tenants sign individual leases without the others on it? How do you break everything out? Any guidance you can provide is greatly appreciated!

[Marvin Bobb]

@Leslie A.thats smart. Something to think about. Thanks

[Marvin Bobb]

@Todd Ashley this is my first rentals and its 4 hrs away. And its by appartment. Don't know about the room rentals. But if I find out I'll let you know.

[Todd Ashley]

Whoops... that question was supposed to be for @Paul K.

Originally posted by @Todd Ashley:

@Marvin Bobb

I use Cozy for my normal rentals, but I have done a poor job of managing my rent by the room rentals. Does each of your tenants sign individual leases without the others on it? How do you break everything out? Any guidance you can provide is greatly appreciated!

[Carlos Paiz]

@Marvin Bobb I use Cozy.co. It's free and works great.

[Corrine Bordua]

We use COZY and really like it. Was referred to us by a friend, and I like that I can tell my tenant that repair requests can be submitted there as well so that we can avoid direct contact. 

[Brian Caudill]

@Paul K. How do you like the rent by room situation?

[Zachary Ray]

Small landlords can use Zelle or Paypal. Works great. If you have a business account you can work another way. Perhaps using a property management software to collect. EFT payments. 

[Jason Norton]

Rental management company. Pay the 10% and let them handle everything.