If you’re thinking about using Cozy to manage your rentals but have some questions, we can help! Here’s a roundup of the top questions we get from landlords like you.
1. How much does Cozy cost?
All of Cozy’s core services are free. Really. That means you can collect rent, advertise, and receive applications and screening reports for no cost at all.
Cozy’s also free for renters when they pay rent using their checking account. Renters can apply to your listings for free, but if you’ve asked for their credit report and background check they’ll pay for those ($24.99 for one report and $39.99 for the bundle).
So how does Cozy make money? The majority of our revenue comes from screening reports that applicants purchase from us. We also make a little bit of money from payments made via credit card (renters pay a 2.75% processing fee when they pay rent with their credit or debit card) and some other small add-ons, mostly on the landlord side. You can see a full list of all the optional costs here.
2. I just need rent collection or screening reports. Can I use just part of Cozy?
Yes! All of Cozy’s tools are à la carte and work independently of each other, so you can pick and choose the tools you need.
3. How long do payments take?
Cozy’s free ACH (bank-to-bank transfer) option takes 5 business days to deposit into your account. Of these 5 days, it usually takes about 3 business days for us to receive notification that a payment has been successfully debited from a renter’s account, and then an additional 2 business days for that payment to deposit to you.
If you use our Express Payouts feature (which’ll cost you $2.99 per unit per month), you’ll receive your tenant’s ACH payments in 3 business days instead of 5. And if your renter pays with a credit or debit card, you’ll receive their payment in about 3 business days.
We’ll keep you posted every step of the way. You’ll get an email whenever your renter sends a payment and another when it starts depositing. You can also check the status of your incoming payments anytime, and from any mobile device.
4. Does Cozy have a mobile app?
There isn’t a mobile app at this time, but Cozy works great on your phone. Cozy is fully optimized for use on your phone or tablet, which means you can log into your account and use it just like an app. In fact, more than 65% of people use Cozy on their phones, so you can easily track expenses and check on rent payments on the go.
5. Do you have a legal lease I can use?
We don’t offer lease agreements right now, so there isn’t a way to create and sign a rental agreement through Cozy. Though you’ll need to handle your legal lease outside of Cozy for now, you can upload your lease and any other documents to store in your Cozy account, and easily share them with your renters. Here’s more about how that works.
6. Can I collect utility bills?
Yes, you can easily request payments for non-rent bills such as utilities by adding a bill. Once you add a bill, your renters will be notified and can make a payment towards the balance.
7. Does Cozy work with my accounting or reporting tools?
While direct syncing is not supported with other tools, you can easily export all your income and expense data to a .csv file (spreadsheet), which you could then import into a variety of other tools, including Quickbooks.
Have other questions? Visit our Help Center for more answers and advice for getting started.