5 Reasons to Collect Rent Online

Written by Posted On Thursday, 12 February 2015 16:49

Many renters only write one check a month -- to their landlord. While a lot of bill payment has moved online, some rentals still only take payments the old fashioned way. There are a lot of reasons for making the change to electronic rent payments, though, if you’re a landlord. Here are a few:

  1. You get paid faster. Taking online rent payments through services like Cozy help ensure you get the rent money deposited quickly. The rent is automatically deposited in your account.

  2. You get just one rent payment. Even if you’re renting to multiple roommates, Cozy handles the coordination, so you end up with one payment. Some landlords simply request one paper check from their tenants, but that adds a level of complexity that can sometimes delay payment.

  3. It’s easier for everyone. Sometimes, tenants are late with rent payments just because they forgot to send the check in time. Automatic payments eliminate the risk of an accidental late payment and keep things simple.

  4. It’s more convenient for your tenants. As I mentioned earlier, for a lot of renters, their monthly payment is the one and only check they still write. Giving them the option of online payments removes a pain-point in the rental process.

  5. Most importantly, it’s free. With Cozy, accepting rent payments doesn’t cost you -- or your tenants -- a cent. Bank transfers are completely free, and they take just a few minutes to set up.

If you aren’t accepting online payments already, join the thousands of landlords who are -- it’s a win-win for you and your tenants. And if you’re already accepting them, you may be able to save money with Cozy’s free online rent payments.

And if you’re a renter, you can help bring your landlord into the digital age by inviting them to join Cozy for free so you can pay rent online too.

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Ravi Dehar

Ravi works at Cozy, a rental property management solution for real estate investors and independent landlords .


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