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All Forum Posts by: Alyxandria Welch

Alyxandria Welch has started 7 posts and replied 27 times.

Post: Record keeping question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

I've heard good things about Stessa. I'll definitely check it out. Thank you both!

Post: Record keeping question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Hello,

I am curious to see what everyone keeps track of during the year to keep their business running smoothly. Especially curious what you all keep for tax season to make it easier when itemizing. How do you keep track of these things? 

Thanks!!

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Great info Matt! I will check that out for sure. 

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Hello Elise, 

No it does not include anything for if property is sold. Cozy came highly recommended by many but I definitely was not expecting the 5 day transfer between their account and mine.  

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Awesome information. Thank you Filipe. Unfortunately I do not have the jointly and severally liable part in my lease so I'm not entirely sure how that would work when it comes to eviction. (Hopefully it doesn't come to that.)

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Awesome. Thats what I was worried about. Thanks so much!!

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

I'm not positive if she has a bank account. I did put in the initial email explaining cozy that they can get a fee if not linked to a bank account. It does look like it takes about 5 days to process through Cozy but as long as they pay on or before the first, Cozy will not apply the late fee, correct? The payment that was made today will be in my account by the 6th which is past the five day grace period.  

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Yeah they have a 5 day grace period before the late fee kicks in. But it just says a sum of (rent amount) is due on the first but not sure how that works when two tenants are paying separately. 

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Yeah I've sent multiple emails. Seems like Cozy takes a few days for the payment to go through. Not sure if thats just because its the first payment. I guess she just doesn't feel comfortable being responsible for the other tenants money. If they're both on one lease and one is late and the other paid, does the late fee get applied to just one tenant? 

Post: Rent payment question

Alyxandria WelchPosted
  • New to Real Estate
  • Posts 27
  • Votes 11

Hello everyone,

I just took over a duplex (first property) with tenants already there. They're great tenants from what I can see so far. They have kept the place in immaculate condition. However, I sent them links to set up their cozy account a couple weeks ago and one just today set up her account and only paid her portion of the rent. The other has not set up her account nor paid her portion. I would prefer one single payment. Tips and advice for this situation? Do any of you allow for separate payments per tenant? 

Thanks!