Cozy makes it easy to collect rent online. The money goes straight to your bank account—no worries, no paper checks, and no cost to you.
It only takes a few minutes to get set up to collect rent. Start by adding a few details, including your tenant’s name and email, the rent amount, and due date. You can choose if you want to charge late fees automatically.
You’ll also add the checking account or debit card where you’d like to receive payments. You can add separate accounts for things like security deposits and utilities.
This video shows these steps:
Once you finish adding these details, we’ll email your tenant an invite. Once they click on the link in the email, it’ll only take them a few minutes to get set up using their computer or mobile device.
You can see how tenants set up payments in this video:
Your tenants can schedule automatic payments, so they don’t have to remember to send their payment every month.
We’ll email your tenants each month, five days before their rent is due, with a reminder. After they’ve set up, you’ll be able to see all of their scheduled payments and completed transactions.We’ll also keep you in the loop with emails about your tenant’s setup status, when their payments start processing, and when deposits arrive in your account.
You can see if your tenant is set up to make payments in the “Tenants” tab of your “Payments” page.
If you need help introducing Cozy to your tenants, share this one-page guide.
Collecting rent through Cozy is free for landlords.
Tenants can send payments for free with their checking accounts. They can also pay with a debit, credit, or prepaid card for a 2.75% transaction fee.
Checking account payments typically take 5 business days to post to your bank account. Card payments typically take 3 business days to post.
You can sign up for Express Payouts, an optional feature that speeds up checking account payments to 3 business days for $2.99 per unit per month.
Remember, collecting rent on time every month is one of the most important things you do as a landlord. Make it easy. Get started here.