How Has Cozy’s Change To Apartments.com Affected It?
Cozy is a property management solution that has dominated the market as a simple tool for landlords. However, after its acquisition by Apartments.com, it has become less about the landlords who use it and more about developing Apartments.com’s primary business – rental listings.
This shift in focus away from the landlord has caused some issues with previously loyal landlord users who are finding some of their favored functionality has been removed or changed.
A few of the key complaints old users have had include a reduction of functionality since Cozy was purchased, a poor app experience, not supporting commercial property management, and increased listing fees.
Whatever the reason you’re looking at Cozy alternatives, it’s always a good idea to analyze the current tools available on the market to see if you can better optimize your processes to save yourself time and improve your rental business’s profitability.
Pros and Cons Of Using Cozy Now It’s Owned By Apartments.com
Save time and money with Landlord Studio
Landlord Studio is an accurate, efficient way to keep track of your rental business’s finances. Track your expenses on an organization, property, or unit level, manage tenants, automate rent collection, income tracking, late fees, reminders, and more.
A complete overview of your portfolio
With our intuitive dashboard and easily customizable reports, you can quickly gain oversight of your portfolio or individual properties to ensure nothing slips through the cracks and to make tax time a breeze.
Manage your properties anywhere, anytime
You don’t need to be tied to a desk. You can manage your properties, track income and expenses, chase up tenants, and digitize your receipts easily and quickly from your mobile device in real-time.
FAQ’s
Get prompt responses from a friendly, professional and knowledgable support team.
What Is A Unit?
We define a unit as any room or property that requires a lease e.g. if you have a whole property that is rented out, that is counted as one unit. For a duplex, this would be counted as two units, as these are two separate leases. If you rent out rooms individually within a property, each room would be a unit.
What Is Landlord Studio?
Landlord Studio is desktop and mobile software designed to make the lives of landlords and property managers easier. With it, you can efficiently track income and expenses, automate tasks, and even screen tenants.
Our features like smart scanning receipts, bank feed integration, and the ability to instantly produce reports designed for tax season paired with our dashboard give landlords and property managers the ability to gain real-time and valuable insights into their portfolio’s performance.
Can I Import My Historical Data?
We have a personalized onboarding service that is available for an additional fee. Our dedicated success team will import your existing data into the software and schedule a training call to get you set up. Contact us for more information.
Who Is Landlord Studio Designed For? Does It Work for Large Portfolios?
Landlord Studio is designed for individuals that manage properties themselves and who wish to gain a deeper insight into their portfolio’s finance.
We have users that use a property manager as well as our software, and we have others that do everything themselves.
The sweet spot for our software is managing between 4 and 50 units. However, there is no limit on the number of units that you can manage through the software and with access to your account via the app or desktop portal you can manage your properties however best suits you.
How Is Landlord Studio Different from Quickbooks/xero?
Quickbooks and Xero are complex accounting programs that are designed to service all types of businesses. Customizing Quickbooks to track rental property income and expenses can be a complicated and time-consuming process, especially if you’re new to real estate investing. That said, if you have entity-level accounting needs, run a real estate-related business that doesn’t own rental property, or are accustomed to maintaining traditional balance sheets, you may still prefer to pay for a full-service accounting platform like Quickbooks.
Landlord Studio is a platform that’s purpose-built for rental property owners and works seamlessly from day one. Key real estate metrics like net cash flow, occupancy rates, and appreciation are standard components of the dashboards. Real estate-related income and expense categories are built directly into the transactions ledger.
You can manage your income and expenses on an organization, property, or unit level. And with our filters, you can generate detailed reports fast. For example, run our Schedule E report, print it out, and copy the details to your Schedule E form. With Landlord Studio, you can expect to be up and running in 15 mins or less!
On top of this Landlord Studio offers a number of automation features that make property management more practical for landlords.
Can I Use Landlord Studio for Commercial Properties?
Whilst Landlord Studio is purpose-built for residential income properties we do have users that currently use the system for commercial real estate.
Just keep in mind that Landlord Studio is not designed to accommodate office, industrial, or specialty properties with complicated rent rolls or single-tenant triple-net leased buildings with lots of pass-through operating expenses. We also do not provide support for setting up and managing commercial properties on the platform.
We always recommend people take advantage of our free trial and set up a few properties on the software to figure out if our software works for their particular needs.
Can I Use Landlord Studio for Rent Collection and Credit Checks?
You can’t currently collect rent through the app. However, this is a feature that has been requested by a number of our users and we are currently working on developing it. We are hopeful to release this feature later in 2020.
You can run credit checks on tenants through our app. Read our Detailed Guide on Tenant Screening for more information.
Which Countries Is Landlord Studio Available In?
Landlord Studio is available globally.
Unfortunately, due to regulatory and compliance differences between countries not all of our features are available in every location. For example, Bank Feed integration and in-app Tenant Screening is only available in the US. We intend to expand all our features to all of our users as soon as our 3rd party providers and regulations allow.
How Long Does It Take to Get Set up On Landlord Studio?
Setting up your first property on Landlord Studio takes about 5-10 minutes. Owners of single-family rentals and smaller multi-family buildings may be able to do a simple setup from memory alone. Owners of larger buildings or extensive portfolios will likely need to look up a few key pieces of information like rent rolls and mortgage details to get started.
How Do You Cancel or Delete Your Account?
As mentioned before we offer a free 14 day trial for all our users. We encourage everyone to take advantage of this and not to purchase until they are certain this is the software for them.
If you choose not to buy simply delete the app from your device. After a set period your data will automatically be erased from the system.
After you have purchased a subscription you can cancel your subscription any time in the settings on our website.
What Reports Are Included in Landlord Studio?
We have a number of different reports that are available in CSV or PDF format including:
Profit/Loss, Net Worth, Schedule E Report, Income Expense, Income/Expense Categories, Breakdown Statement, Mileage, Occupancy, Overdue/Upcoming Expenses, Payments Made, Reminders, Rent Ledger, Rent Overdue List, Rent Roll, Tenant Directory, plus more coming!
Some reports are only available on Growth and Scale plans.*
