A few weeks after Heather started working as a property manager, her new boss asked her to compare two tools for online rent collection. With her background as corporate retail buyer, she chose the one that felt more intuitive.
“I knew nothing about property management,” she says, “but Cozy was super easy to use, and I think that’s really saying something.”
Heather is one of the property managers and landlords who collected more than $1 million in rent through Cozy last year.
When we launched Cozy, we created tools for independent landlords with just a few properties. We wanted to help them become more efficient and profitable. As we’ve grown, our customers have grown their portfolios, and property managers have started using Cozy, too.
Many of them told us they chose Cozy over bloated and expensive property management tools because they like how our features—collecting rent online, marketing vacancies, accepting online applications, and screening tenants—save them the most time. And Cozy saves them money. All those features are free for landlords.
Lots of times property managers start using Cozy to collect rent online. Then they screen tenants with Cozy’s credit reports and background checks, the path Heather followed. She says the screening reports make finding qualified tenants easy.
Streamlined business in Boston
Maren Heise, of Hunter Management, also helped collect more than $1 million in rent last year. She manages about 50 units in Boston, and she says 90% of her tenants pay rent through Cozy. While she doesn’t require they use Cozy, she wishes they’d all choose it.
Before she found Cozy, Maren’s applicants had to use a different site for screening reports. But that meant entering much of their info twice. She says her renters prefer how Cozy integrates applications with screening reports.
She also likes that she can see which payments are being processed before they land in her bank account. “If they say, ‘I put the check in the mail,’ there’s no way of knowing if that’s true,” Maren says. “With Cozy, I can see what’s actually coming.”
Managing properties in the City by the Bay
Cozy has a few $1 million-plus rent collectors who own properties in San Francisco, including Ken Wei, who got into real estate during the 2009 housing crash. He says he uses Cozy because, “collecting checks in the mail is a pain in the butt.”
“I love Cozy,” he says. “The interface is amazing. I’ve recommended it to a lot a colleagues.”
Bill Mainzer, another $1 million-plus rent collector in San Francisco, has owned property in the city since 1980.
“It’s a great investment opportunity. How else can you get a bank to lend you 70% and you keep the entire profit?”
Bill told us he likes how Cozy allows him to see the name of the person paying him, which matters in San Francisco, where a law mandates that if a landlord accepts a payment from someone, that person contractually becomes their tenant. Cozy gives Bill the ability to pre-approve each person wanting to make payments, which prevents payments from being made anonymously.
We’re proud landlords who manage lots of units have found ways to optimize their businesses using Cozy, and we’re looking forward to adding other features and products to help them become even more successful.
In a few weeks, we’re launching some updates in Cozy that will making managing multifamily properties even easier. Stay tuned for details!