All Forum Posts by: Clay Rempe

@Nate Hundley

Since it is a cash deal, it is fine to have them all lumped together.

If you had financing, it would be worth trying to separate so that liquidation is easier on the back end.

@Phillip Black

Well, you are correct Cozy does not calculate daily accumulating late fees. My leases previously had a $60 late fee and another $15 per additional day late. Cozy just throws its hands up in despair when faced with calculations like this.

I changed my leases to a flat one time $100 late fee. (Amount varies by property,). Cozy does handle this 100% accurately every time—without me having to message tenants in any way.

It is simpler for tenants to understand also.

Keep your late fees less than 10% of monthly rents to stay on the right side of the lawman—check your state for details.

-Clay

@Phillip Black

Cozy automatically calculates and adds late fees

@Marvin Bobb

Cozy for most of my renters. A few direct deposit to a checking account I set up for them.