Online rent collection

[Steve Newsom]

Looking at possibly starting to have tenants pay rent online. See older post anyone have recommendations and some pro and con insights.

[Lynnette E.]

Originally posted by @Steve Newsom:

Wasn’t sure of difference in services between options. I understand there is a software you can download onto your own site. Cozy takes 5 days to deposit rents into landlords account or charges $2.? Per unit to deposit within 3days.

Standard/default date in rental agreements is five days from due date which gives tenant to the 6th add 5 days and your at the 11 of month.

Unsure of variations of services by other providers. 
Thanks for the input.

I use COZY, and for the free service it does take more time for the money to deposit into my account. However, you definitely know that the tenant paid and when they do.  Cozy will say that the payment is processing when it is paid.  So there would be no reason to wait until day 11 to act if they did not pay on time.  You know on the 5th or 6th if they paid or not and can act then.  Cozy also will tell you if the tenant has set up automatic payments.  One of mine did for the 5th of the month, so I can expect that one to always deposit into Cozy on the 5th!  And yes, I get it on the 11th.