How do I request payments from my renters?
Once you've added a property, you can start collecting rent through Cozy. You'll just need to set up rent collection and invite your renters to set up payments. Here's how to get started:
1. From your Payments tab, click the "Set Up Rent Collection" button.
2. Select your property (or enter in the details for a new property) and then click "Continue."
3. Set your Start Date.
4. Select your lease type. Choose whether you'll collect rent on a month-to-month basis (with no set end date), or set a fixed term. If it's fixed term, you'll also enter an end date.
5. Add your tenants. From here, enter in the name and email address of each of your tenants.
6. Set your Rent Amount and Monthly Due Date (like the 1st of the month).
7. Set the First Rent Payment Due date. (If you choose a date other than the monthly due date, we'll help you pro-rate the first rent payment.)
8. Add any additional charges, like a security deposit or other move-in cost. Or, if you're not collecting a security deposit through Cozy, select "I don't need to collect or already have collected a security deposit."
9. Select a bank account or debit card for your rent payment deposits or else add a new account. You can also select a second account to receive your security deposits.
10. Upload any relevant documents such as leases, check-ins, and disclosures.
11. Review your information. If everything looks correct, click "Confirm and Invite." We'll email your tenants so they can get started setting up payments.
You can watch a demo video of this process in action, too.