Baselane & ACH Collection Services

[Sean Relyea]

After receiving payments in cash, check, Venmo, Paypal, and Cash App in the last year, I think it's time to look for an ACH collection service. I've been seeing constant ads for Baselane, which I'm guessing is newer by the bonus incentives being offered and the amount of advertising. Does anyone have experience with it? What would you recommend instead? And for the implementation and testing of these, have people tried to change over in the course of a month or picked a reliable tenant as a tester or something in between?

[Jamie Banks]

I use Baselane for my portfolio. While it is a newer software and doesn't have certain features like automatic transfers, I really like the software. Apart from ACH, which is free vs. a fee on other platforms, the software also keeps track of property analytics and can create a statement of cash flows (NOI/Net Income views also available) and has export functions to give your CPA come tax time. My favorite feature is the virtual account and virtual card options. You can create a separate virtual account for each unit that will link to your main operating account. As a property manager it's so helpful for me to be able to have separate accounts for each property that I manage.