Baselane and PM Software

[Katie Neptune]

Hi there,

I was wondering if anyone has experience with using Baselane for banking for their rental properties and thoughts on it.

I will be closing on my first rental property in about a week and would like any helpful input on apps such as TenantCloud, rented, turbotenant, etc.

Located in NE Ohio if that is a factor.

[Bonnie Low]

Hi, Katie. Congrats on getting your first property - that's very exciting! And it's good that you're already thinking about systems to manage it. I use Baselane. I've used other programs in the past (Quickbooks) and an old fashioned spreadsheet, but neither worked for me. I love the simplicity and user friendliness of Baselane. It's very thoughtfully designed specifically for real estate investors by real estate investors so it doesn't have features you don't need and won't use. I like that I can quickly set up bank accounts for each property and sub-accounts under those so I can keep my property finances in "buckets" as I like to think of it. The virtual credit card feature is also really slick. I have specific credit cards set up for my cleaners, handymen, etc. so when I see a charge come through for that card I know exactly what it's for and what property it's associated with. It makes categorizing expenses very easy. I also like having my tenant vetting, lease agreements and rent collection all in one place on my dashboard through Baselane's partners. I'm glad I switched. I just wish it was around when I started way back when! Hope this is helpful. 

[Katie Neptune]

Thank you so much for this amazing run down! 

[Austin Kile]

i had baselane and shut it down. there was issue getting my money out and there is absolutely no customer service. i loved the idea they had and the platform analytics they have but from a banking perspective i would not put any money there.