Online Rent Collection

I know about Venmo and the Cash app, but I am looking for something less generic. Something where I can keep track for accounting purposes the receipts and expenses.

I use Venmo and Cozy.co for mine.

PayPal

Second cozy.

I vouched for cozy a few times, but dislike it now. There’s no real ledger, so it can be confusing. Also if they pay on the 5th, you get paid on the 10th, then it bounces... you’d be surprised by the people who pay $50 to use a CC instead of ACH

I use Rentec direct for my books, and would try that. Some features are free. I have paid subscription. When I get a repair or bill, I take a picture with my phone and attach it to a charge and post it to a ledger all from my phone. It has a tenant portal that you both can log into. All kinds of reports and pro features, application and background check, list to many ad sites like Zillow. it’s like Appfolio.


I have this low income tenant that set up a recurring transaction on Cozy and does not realize it. It fails every month, and cozy will send me an email that it failed, then the next day one that says payment is in process, which it isn’t, you can long in and see it was declined.

It’s just best to keep everything in one place, I have some that pay me PayPal or bank, then I have to update Rentec and Cozy.

What’s great is setting up a business checking and give the tenant the last 4 of the account number, and name of the account. They can make deposits, even at night, and the best part is you don’t have to be the IT person helping with the electronic payments. and it’s almost instant.

Yup, I have one paid aug 30, won’t post till the 7th. It’s not 4-5 like they say, more like 7-9. ACH PayPal takes 4-6 days as well