All Forum Posts by: Janette Nason

I use Cozy.co/ The only problem is, it does take a few days to post into your bank account especially the first time they use it. Once they get the hang of it it's no big deal though. It's free which is always nice and they send the tenant reminder emails and send you emails tracking when the deposit should enter your account. Venmo is an option and it only takes one or two days to enter your account. I will use that on occasion in the future. When I went from 8 units to 20 it suddenly felt as though it would be too easy to miss a payment so In addition to logging everything in on quickbooks, I also made up a simple excel sheet labeling each Tenant, when they paid, how they paid ( cash, check or cozy) and when it was actually deposited and any remarks so that if there's ever a question I can go back and clarify exactly what happened. Hope this helps.

Thanks so much for all your suggestions. I'll look into all of these options as well as erentpayment

@ Percy N

Thanks. I will check that out. Are you currently using Cozy?

I'd like to get any recommendations on apps out there for tracking tenants rents deposited ect. I'm looking at property buddy which is about $125.00 annual fee. Does anyone know of a better app? Maybe cheaper as well. I had bought the real estate evaluator for only $40.00 one time fee and it has been invaluable as far as sorting out possible investments. Seems like there should be something similar for tracking tenants and rents that I could have available on my phone and iPad.

@ Brenda Whittaker yes you can take a draw directly from your LLC. Also you can split a bill for instance, if you pay for a new dishwasher in your unit through American Express but you had personal expenses on that same bill you can split, part improvements and part draw. My husband and I have had an LLC for years. We just got a 35year loan at 4% through a credit union. I suppose every state is different so I would ask around at various banks and credit Unions. We invest in the Boston area

@ Gita foust omg! I live just 12 minutes north of Boston and we barely have any snow. 

I have quickbooks 2015 accountants professional version. I'm sure there's a lot I can do with that, which I haven't discovered yet. I use it in the simplest way which my new accountant has helped me organize.  I appreciate your input. I know there are simpler ways to do many things and I could probably use a consultation  

Good luck with the snow

@gita foust I meant to say 20! What programs or apps do you recommend?

Currently, since we just purchased 12 more units making our total 12, I have been spending much more time keeping track of rent payments. When check was received, when deposited, when it cleared. I set up a system on excel and also immediately input on quickbooks after the deposit has taken place but I'm still getting a handle on the beat and most efficient way of doing this. Some of our new tenant have been paying in the middle of the month which also complicates things but I plan to change that.