Baselane - Banking Solution for Landlords

Baselane - Banking Solution for Landlords

Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes

For those who self manage, I wanted to share a great bank I've been using called Baselane. Baselane is a bank that also has property management software and book keeping capabilities. As a manager of over 20 units, it's important for me to have a software that fits the needs of the properties I own and manage for others. Here's a few of my favorite features:

- Virtual Accounts: For each bank account you set up there's the option to have up to 20 virtual accounts. I use the virtual accounts for security deposits, reserves, etc. I set up virtual accounts for each property that is linked to my main operating account. This allows me to easily manage the finances of each property for my clients and I can include automations for transactions going into each property's account. 

- Rent Collection: Tenants can pay their rent directly to Baselane. Baselane allows you to set up security deposit, rent, and other charges and will send tenants reminders of when the rent is due. I love being able to collect rent directly into my bank account. This is free for tenants using ACH.

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Investor · McKinney, TX · Member since 2022 · 7 posts · 6 votes
2y

One of the creators of Baseline was featured on a podcast I recently listened to. I instantly researched them and have only read positive things. It seems very useful, practical and resourceful. I plan to open an account soon! 

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  • Charleston, SC · Member since 2016 · 14 posts · 5 votes
    2y

    That's awesome! Baselane sounds like a great tool for managing rentals, especially with the virtual accounts and streamlined rent collection. I'll definitely check it out. Thanks for sharing!

  • Rental Property Investor · PA · Member since 2024 · 2 posts · 0 votes
    1y

    I am having issues with baselane for over one week. The dashboard will not load, it just spins and spins. I've reached out to customer service and received little assistance. It seems quite buggy and perhaps not worth the hassle. I'll be looking into other arrangements. Thank you for the suggestion though. 

  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    1y
    Quote from @Dakota Taylor:

    I am having issues with baselane for over one week. The dashboard will not load, it just spins and spins. I've reached out to customer service and received little assistance. It seems quite buggy and perhaps not worth the hassle. I'll be looking into other arrangements. Thank you for the suggestion though. 


     I have connections with Baselane support staff. Would you like me to message them directly for you? PM if that would be helpful.

  • Rental Property Investor · PA · Member since 2024 · 2 posts · 0 votes
    1y
    Quote from @Bonnie Low:
    Quote from @Dakota Taylor:

    I am having issues with baselane for over one week. The dashboard will not load, it just spins and spins. I've reached out to customer service and received little assistance. It seems quite buggy and perhaps not worth the hassle. I'll be looking into other arrangements. Thank you for the suggestion though. 


     I have connections with Baselane support staff. Would you like me to message them directly for you? PM if that would be helpful.


     That would be wonderful. I would like it to work by the first of December when the rent is due so my tenants can be set uo

  • Member since 2020 · 116 posts · 13 votes
    1y
    Quote from @Bonnie Low:
    Quote from @Dakota Taylor:

    I am having issues with baselane for over one week. The dashboard will not load, it just spins and spins. I've reached out to customer service and received little assistance. It seems quite buggy and perhaps not worth the hassle. I'll be looking into other arrangements. Thank you for the suggestion though. 


     I have connections with Baselane support staff. Would you like me to message them directly for you? PM if that would be helpful.


     Keep us posted please

  • Member since 2024 · 3 posts · 0 votes
    1y
    Quote from @Frans Calderon:

    That's awesome! Baselane sounds like a great tool for managing rentals, especially with the virtual accounts and streamlined rent collection. I'll definitely check it out. Thanks for sharing!


     You said that on Oct 2nd. On August 31st, you wrote:

    > I've been using Baselane for rent collection for about 6 months now, and I've been extremely satisfied with it. Before Baselane, I was dealing with a mishmash of payment methods, including cash, checks, Venmo, PayPal, and Cash App. It was a nightmare to keep track of everything.

    Short term memory blips?

  • Rental Property Investor · Northern NJ · Member since 2019 · 673 posts · 677 votes
    1y

    What would be the advantage of switching from apartments.com to Baselane?

  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    1y
    Quote from @Dakota Taylor:
    Quote from @Bonnie Low:
    Quote from @Dakota Taylor:

    I am having issues with baselane for over one week. The dashboard will not load, it just spins and spins. I've reached out to customer service and received little assistance. It seems quite buggy and perhaps not worth the hassle. I'll be looking into other arrangements. Thank you for the suggestion though. 


     I have connections with Baselane support staff. Would you like me to message them directly for you? PM if that would be helpful.


     That would be wonderful. I would like it to work by the first of December when the rent is due so my tenants can be set uo


     I sent you a connect request. Just forward me your contact info and I'll pass it along.

  • Saint Louis, MO · Member since 2017 · 3 posts · 0 votes
    11mo

    @Daniel Rivera, which property management software? You mention it a lot but never share the name. Can you share the name?

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