Should I collect first month's rent in advance through Cozy?

[Wade Penner]

I have tenants moving out 6/30, and I listed a couple units to be safe.  I'm nearly finished vetting renters for both units, and now I need to determine 1) I will for sure collect the security deposit at the lease signing, however should I also collect first months rent given that their lease won't start for 2.5 months? 2) One applicant lives on the other side of the country - would it be safe to collect these funds through Cozy given that there is plenty of time for the payments to clear?  If not then what method would be advised to obtain long distance funds?  

[Carl Millsap]

@Wade Penner, as long as you collect the deposit, and 1st month prior to the tenant moving in I don't see an issue w/ collecting via Cozy. 

I think we've done something similar w/o issue.

Since the applicant is apply and holding the property w/o immediate possession we add a clause that states the deposit is non-refundable until they move in. Just in case they decide not to move in for some reason it covers our cost of holding the property / taking it off the market. Once they move in, the deposit is refundable per the lease.