That is true, judge sides the tenants as they are financially weaker and always sees landlord otherway.
You do not need to close account, but you can block incoming transfer for sometime (after the last payment is transferred) and then allow the transfer once they are gone.
I talked to Bank of America, they cancelled all incoming transfers. Then, they told me to re-open incoming transfers online.
what about the other (2) tenants who would use the same account?
I know I can block incoming Zelle transfers, but what if they go to a branch and deposit funds in person? I don’t think I can avoid that in any other way.
Yes, that is the issue. Bank of America said they can block all incoming but not specific from a person.
On any case, you do not need to block the transfer in as your tenants (unless they dispute) may leave after 60 days.
In my case, tenants wants to stay 3-5 years (extending from short term 6 months lease) using lawsuit as I was renting almost $1000 less than normal rent.
Unless your tenants dispute your notice, there is no need to stop incoming transfer.
AFAIK, cozy initiates the exact fund transfer which is set by landlord. There is an option to set deduction from rent etc, but that is also set by landlord only.
I got into cozy. We can stop partial payment and we have the option not to receive payment just at the last month.
Good choice (I just found out erentpayment had a snafu a couple years ago though I wasn’t affected personally).
Does Cozy have a refund function? I thought this was useful to handle the last month’s rent. Rather than deducting security deposit and accepting partial rent, just collect full rent and refund after move out inspection. My first tenant had a prorated amount but we did it this way just to be cautious. Also, this time around I did not give out my bank info to tenants.
I’m glad you shared your case and we can all learn something.
Cozy has credit function, but I have not used it yet. Second, you can enable partial payment at the last month. Based on the feedback here, looks to me good, but yet to explore further.
Last I checked, NO Cozy doesn’t do any actual refunds. Credit memo functionality allows you to log any payments handled offline.
I am happy with Cozy except for one tenant, his payment kept on failing like every 2 months. He show screenshot of his bank account and he has money in his account. We called to WellsFargo and Cozy multiple time, they couldn’t figure out either. But working fine for others and have been using for over 2 years.
Not a good sign.
Most likely the issue around Wells Fargo, due to high security issue such as dual authentication (Password and phone/email code), they would not properly authenticate the customers.
That’s what I am guessing too. Based on some account type there might be some limit and such.
My vote is would have to be for Zillow over Trulia. It’s because I get a lot more qualified applicants when I post a property.
All the best,
Eddie
http://www.sellmyhousefastinsanantonio.net
I just rented out a unit after posting on both CL and Zillow (which automatically reposts to a few other places including Trulia). I get more responses from Zillow than CL, but a lot of the Zillow responses are superficial that after I respond to them they don’t contact me again. I guess it’s fairly easy to click a few button on Zillow to request a showing, while typing up an email is more serious work. I got only 3 solid leads from Zillow out of 10+ responses (solid lead means they show up at open house), but most CL leads are good. We requested interested parties to include some description of themselves so you can tell how serious each party is by the length of their emails.
Zillow is best. I am surprised that I get no leads from CL anymore in 2020. However back 5 yrs ago, CL was the only thing that worked. So yeah. Do Zillow and also CL for range.
Agree. I have template follow-up questions like ‘Tell me more about your situation’ for all zillow requests before I bother to take it seriously.