Have you decided to invest your money into property? Maybe you’re like me and you’re a landlord or property manager. You’ll likely agree when I say that this job can be incredibly overwhelming and it’s a lot of work for just one person.
You could hire a staff to help you get the long list of tasks done, but that will cost you a ton of money and take time to find the right people. I was in this same position months ago, until I found Cozy.
Cozy is one of the most popular property management software options available today! There are plenty of amazing features that will make your job much easier, but I’ll talk about that later on.
You could search the internet to find a few Cozy reviews, but none that are as in-depth and honest as this one! If you’re looking to save money, get more work done, and free up time to do the things you enjoy in life, read on to find out how Cozy could help!
Below you will find a detailed review of the software, including pros and cons, key features, and even where you can buy it if you feel like it will benefit you and your business! Don’t spend any money on expensive software before you read everything there is to know about Cozy! Let’s jump into it!
[box]Another great free option is QuickLease Pro. If you find that after reading this review Cozy isn’t perfect for you and your business, check out QuickLease Pro’s detailed review![/box]
A Table Of Contents For Cozy Reviews
So, you’re probably sitting there wondering how on earth free software can help improve your work life so much, and it’s a fair thing to ask. One of the great things about Cozy is that it will benefit you and your tenants. There are plenty of great features that make this software stand out from other ones like it.
Let’s talk a bit about what this software can do for your tenants, whether they’re already existing or potential renters. One thing that Cozy can do for possible tenants has to do with your empty units. Cozy allows people to view and apply for your available units that are listed online.
Something that Cozy does, that other property management software doesn’t, is it gives the prospective renters the ability to see rent estimates before they apply. Once they become a tenant, they’ll be able to easily use the portal to pay their rent online, right from their mobile device or computer!
So, what can Cozy do for you? Well, for starters, you can use this property management software to screen potential renters. This helps you weed through people who apply that don’t quite make the cut because of things like credit requirements, past evictions, or income variables.
Since your tenants are able to easily pay rent online, you’ll be able to collect it automatically using the portal that comes along with Cozy, and it won’t cost you a cent! The way this property management software works is that you have the option and ability to sift through add-on features.
Each of these features will cost you money, but it makes it so you build software that works perfect for you and your needs. Plus, the software is initially free and comes with plenty of features without having to spend any money.
When your tenants use Cozy to pay their rent, they will be charged a small fee when they pay using a credit or debit card. But how do you know if this is the best property management software for you? You take advantage of the free demo that is offered!
If this sounds like a software that you want to try out and they don’t offer free trials, Cozy has the option of a free demo. What you need to do is sign up for the demo and a member of Cozy’s customer service staff will reach out to you to schedule a time that works for you.
Once you have a date and time set, they’ll walk you through how everything works on the software. The customer service staff member going through the demo with you will be able to answer any questions or concerns you may have. The entire process can take up to two hours, so it’s best to schedule it when you have a solid chunk of time to spare.
People enjoy this software because it can be used when you need it most and you don’t have to spend hours trying to figure out how it works, all on your own!
Do you struggle with keeping all of your paperwork organized? Do you hate typing up leases and marketing your properties on several websites every time you have an available unit?
If so, Cozy may be the right property management software for you! This software ends up saving you money in the long run, even when you purchase additional add-ons.
You’ll be able to get more done and spend more time doing what you love. You don’t need to go through the process of hiring staff to get jobs done when this software can do the tasks for you. Whether it’s screening possible renters or listing available properties, Cozy can help.
A lot of the times, property managers and landlords have more than one property to look after. It can be time consuming and hard to keep up with every single tenant at every property. This can get even more complicated when you own different types of property such as student housing or residential or commercial property.
Something that Cozy can do to help with this issue is to provide a form of communication between landlord and tenant. You can’t be in multiple places at once, but this software can. This can come in handy if a tenant needs to place a maintenance request or has a question about their lease.
One feature that sets Cozy apart from other property management software available is the ability to allow your renters to buy renters insurance. This can easily be done through the portal and can be an expense that’s added on to their monthly rent that they can pay online!
If you’re comparing this property management software to others out there like it, (which you should), I wanted to provide a list of pros and cons that make the comparison process a bit easier. Below you fill find some of the great things about this software, along with some of the not so great things.
- Rent estimates available for future tenants
- Renters insurance built-in option for current renters
- It’s easy to use
- The base software is free
- Detailed free demo showing you how to use the software
- Future tenants are screened
- Renters can pay for rent online
- People interested in available units can apply online
- It’s like a buffet – everything additional will come at a price, but you get to build and curate software that will work best for you and your needs
- No mobile app (at the time of writing)
I hope this helps sum up what exactly Cozy is and what it’s capable of doing for you. Below I’ve included a detailed analysis of Cozy to give you a better idea of what the key features are and what makes this software stand out.
So, what is Cozy known for? What features does it have that places it above others in a competitive market? I wanted to answer those questions, along with a few more below. You can use this section to take some notes.
A lot of people use the analysis to discover what they like or need in property management software. Here are some of the most important features that Cozy offers and what each of them can do for you!
When you use Cozy Property Management, you’ll be able to easily market your vacant units. Cozy allows you to upload photos and videos, along with listing the amenities that come with the unit. You’ll be able to put any lease terms or pet policy information right on the ad for the empty unit.
You can use Cozy to share the available unit across all social media, in an email, or to link it to someone who’s interested. It won’t cost you a dime to use Cozy to market your properties on sites such as Realtor or Doorsteps.
You don’t want to spend more money than you have to between tenants. We both know that having an empty unit is practically wasting money. If you want to use Cozy for its ability to market your available properties, you can click here to find out more.
You read earlier about how your tenants can use Cozy to pay their monthly rent. It’s easy for them to sign up and they even have the option to have rent collected automatically each month. They can pay using a choice of an ACH transfer a credit or debit card for a small fee.
It’s important to note that the ACH transfers do take a bit longer, so be sure to let your tenants know so you don’t receive rent late unexpectedly. Another great thing about this feature is that the property management software will send your tenants payment notifications and it will even let you know when a payment is processing.
Lastly, when it comes to what Cozy can do for collecting rent, you’ll be able to view any current balances, download a file of a renter’s payment history, and your tenants have the option to split the rent bill across several roommates.
One of the features that’s free for landlords and property owners, but not for applications, is the ability to screen tenants. This is where application fees can come in handy; it helps the applicant know why there is a fee and what it goes towards.
It will cost them just under $25 for a credit check and another $25 for a background check. They do have the option to buy both for around $40, saving them about $10. This can be important for those who don’t want to provide any sensitive information to strangers, like the landlord.
The applicant will pay the fee and be able to run the report themselves and have the option to send in over to you. This saves you both time and money!
[box]In addition to just screening tenants, you can add various users to another great free property management software option – QuickLease Pro. For instance, you can add agents and your other employees and assign tasks to everyone! Interested? Check out the review of QuickLease Pro![/box]
The only feature that you’ll have to open your wallet for is the ability to estimate rent. This service costs under $20 and isn’t necessary for a lot of property managers, which is why Cozy is so great. The feature that costs money – you may not even need!
If you are interested in this feature, after you pay for the add-on you’ll get a full detailed report with an estimate for rent that includes the rate for expected vacancies and local comps. I’ve tested out several free property management software options, and Cozy came out on top for a reason!
You can see a full report here that shows an example of what the paid feature will get you. The rent estimates are professional, in-depth, and comprehensive. There are other options out there, but they will likely cost more than the Cozy add-on price.
How To Invite Tenants
Inviting tenants to use Cozy is actually a lot easier than it may seem. All you’ll need to complete this process is their name and email address. Enter those into Cozy and the software takes care of the rest!
Renters will then get an email from Cozy that they can use to set up their account and add a payment option. This is where they will see the option to make their rent payment recurring and automatic each month. This helps prevent the possibility of turning in rent late and being charged extra!
It takes less than 10 minutes for them to set up their account. They will be shown that if they decide to pay with a credit or debit card that there will be 2.75% fee each time but if they use an ACH transfer, there is no additional fee.
One of the newest features to this property management software is the ability to put in maintenance requests. Towards the end of 2017, Cozy added the free feature that helps you and tenants alike.
There are two different features: the expensive tracker and maintenance requests. The expense tracker lets you track each rental expense right from the portal. You’ll have the option to assign specific expenses to specific properties. Cozy allows you to add photos of receipts and this feature even helps make taxes easier come time to fill out the rental property tax deduction section!
When it comes to maintenance requests, your renters can use the portal to put in their very own requests. They’ll be able to write in a detailed description of what needs to be fixed, along with any photos they have. You can use this feature to help set up times when both the tenant and the maintenance employee is available.
Cozy keeps track of all maintenance requests and allows you to keep an updated log of when something is fixed, giving you the option to add photos too. If you’re a landlord that doubles as the maintenance employee, you’ll really enjoy this feature!
Setting Up Your Bank Account
In order for your renters to pay rent online, they need to sign up for an account. In order for you to receive their rent, you need an account as well. When you sign up, you’ll need to provide your bank ID, along with a password. Cozy is incredibly safe and secure, so you don’t have to worry about typing in personal information.
If you’re extra cautious, you can use your ACH routing number, along with your bank account number. This is similar to writing a check; you don’t provide any sensitive information! Once you’ve done this, you have two options: configure each property to start accepting potential renter applications or you could set up an already existing lease.
It’s important to keep in mind that a lease on the Cozy software isn’t a legally binding lease, but it does lay out your rules and terms of a lease agreement. You can write in what rent costs per month, per unit, along with the starting and ending dates of the lease, how much of a security deposit was given, and additional fees such as a pet deposit.
Alright, so you’ve read an in-depth review about what exactly Cozy is and an analysis of the key features that come with it, along with how to sign up yourself and your renters. Have you decided that this sounds like the best property management software for you? If so, I wanted to share a bit about where you can download the software, but first let’s talk about the free demo included.
If you click the link given above, you’ll see the next available dates and times for a free demo on how to manage your properties like a pro. You can choose from one of these dates and times and sign up and go from there.
Below that, there is the option to check out some of the frequently asked questions that come from the demonstration. This is made for both landlords and tenants and it answers a number of questions. You’ll learn about what goes into the demo, how long it may take, how much it costs, and which devices you can watch the demo on!
At the end of every demo, Cozy hosts a live question and answer session so you can get any questions you may have after the demo answered! It’s a great thing to take part in since others may have questions or concerns that apply to you that you haven’t thought of yet!
Next to the demo FAQ section is the option to watch a free demo video. This is a short video (around 9 minutes) that gives you an intro of what the demo will be like and it goes over a bit of what exactly Cozy can do for you. I suggest checking out all of these options, but if you’re short on time like a true landlord, go with the free demo over the video or FAQ section.
If you’re ready to sign up for the software after you’ve taken part in the free demo, you can simply click here to sign up and fill out the information requested. That’s all it takes to get this amazing property management software!
At the time of writing this review, there isn’t a Cozy app available for mobile devices. This is something the company could improve on, since it would be incredibly convenient for yourself and your renters.
With that being said, their website works perfectly on mobile device browsers. You’ll be able to log in and view any necessary files, or pay rent if you’re a tenant. Hopefully, soon they’ll roll out an awesome mobile app to go with this amazing software!
[box]QuickLease Pro is another great option – and it is completely free! Have a look if Cozy doesn’t sound right for you.[/box]
If you’re a landlord or a property owner, you already have a lot on your plate. You have to complete paperwork daily, keep track of everyone’s rent history, give tours of vacant property, tackle any maintenance issues, and more. You’re just one person, and it’s totally okay to get some help from software.
I was in the same position, which is why I wanted to tell you all about the software that helped me out. After I started using Cozy, I was less stressed and had more time to do the things that I enjoyed in life.
This software will help you with tasks like listing properties across the most popular websites, screening potential clients, and keeping track of any important or sensitive information you need to keep organized. Hopefully now you’re a little more convinced on using software that has the potential to make your life so much easier!