Anybody have opinions on the Cozy free online management software. It seems like a step up if you don't have anything at all. What is the downside?

I had heard it's more like a week-- sometimes a business week, sometimes a calendar week--but you can pay extra to expedite it to get that 3-4 day clearance.

I also know tenants tend to be cranky if they try paying via credit or debit, and they have the 2.75% fee on top. It's free to them if it's via ACH transfer. So if your tenants have a bank, and don't mind doing ACH transfers, then you're fine; but if your tenants are among the unbanked, or are living close to the edge, the extra $10-$20/month might make a difference.

Why not give it a try, and let us know how it goes?

I'd really like to know a lot more about these type of methods, but not sure I can get to the details I want on this Q&A forum....will I get chided for "kidnapping" this thread if I ask a bunch of questions? IF so, I'll start a new thread.

You are seeing competition. Zelle is a large bank answer to Venmo which increased in popularity. My vote is for Venmo

There is another called Cash App.

something to note, Venmo is instant. My on-line banking with Big Bigger & Terrible lags. What I mean is the instant world is much more understandable for people in their 20s as well as teni overall.

We used to balance our checkbooks, this step is slowly being eliminated by apps you can trust and don't lag. Zelle addresses this too by being quick.

Yes with ACH transfers the money can take something like 5 business days? Those transfers are free for both tenant/landlord.

With card payments the money takes 2 days I think? So, the day after they pay it shows up. Those are free for the landlord but they charge the tenant the transaction free that the card companies require.

I have used it on 1 tenant and it worked fine. They chose to pay by card (they just had a payroll card, no bank account).