I am currently using Turbotenant for tenant screening/rent collection and reminders, and lease creation. They also offer a marketing option and outsources to another provider for bookkeeping. I love it, however, it’s missing one key thing for me. It does not provide banking accounts for deposits/and to keep units separate. I read online that baseline, and azibo offer that. Has anyone had any experience with those? Or can you suggest a better option that does it all? Your input is greatly appreciated.
I didn't know any software included a bank account. What's the purpose? Why is your current bank account problematic?
I use professional software to manage hundreds of properties. We use bank accounts. My personal investments are split into multiple LLCs, each with their own bank accounts, and it doesn't cause any problems.
Investor · Sacramento, CA · Member since 2024 · 129 posts · 36 votes
5d
Baselane is the answer if banking integration is your #1 priority — they offer actual landlord bank accounts with auto-categorized transactions, and their PM tools (rent collection, lease tracking) are decent. Stessa recently added banking features too through their partnership.
If banking is secondary and you just want separate accounts, open a dedicated checking at a local credit union and use any PM platform. The integration is nice but not essential — I just set up auto-transfers from my rent collection to my dedicated property account.
Englewood, NJ · Member since 2018 · 464 posts · 89 votes
3d
honestly i think nathan nailed it above. you don't need your software to also be your bank. i just open a separate checking account at a local credit union for each property - takes 20 minutes and costs nothing.
the software should do what software does well - track leases, send reminders, maybe collect rent. but your money should live in a real bank where you can actually talk to someone when something goes wrong.
i tried the all-in-one approach early on and the problem is when the software company changes their banking partner or has an outage you can't access your own money. with a regular checking account you just walk into the branch.
for what it's worth at tax time my accountant just asks for the bank statements directly. having them already separated by property saves me hours of sorting through commingled transactions.
This is basically the exact reason I like Baselane. I didn’t want my rental banking living in one place and then have to move everything into another platform just to understand how the property was actually performing. Having it all connected is really nice.