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Updated 6 months ago on . Most recent reply

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Jess Na
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Landlord banking software

Jess Na
Posted

Hi all. I've been managing our rental finances using Baselane for the last year and looking to see what other options there are. I like the functionality a lot but it seems that once a month there's a new bug to contend with that's eating into my time. Today it's not being able to internally transfer funds which has pushed my coping with them over the line and I'm interested in hearing if there's better options out there. 

Things that I'm looking for:

- The main feature I'm looking for is  the ability to create as many "accounts" as I want. I'm not sure if Baselane has a limit but I have one account per building + security deposits so would need at least 10. 
- The ability to create online debit cards has helped a couple of times but I'd categorize this as a nice to have. 
- Free would be nice but if it's paid and has extra functionality I would consider. 
- Interest earning (not a ****** 0.2% either). Saves me from having to transfer any amounts that add up into a separate interest earning account. 

The reason I ended up with Baselane is because I struggled to find a brick & mortar bank that would allow me the ability to create multiple checking accounts & has decent interest. If that exists I'm all ears. 

Thank you!

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Bonnie Low
#1 Medium-Term Rentals Contributor
  • Investor
  • Asheville, NC
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Bonnie Low
#1 Medium-Term Rentals Contributor
  • Investor
  • Asheville, NC
Replied
Quote from @Jess Na:

Hi all. I've been managing our rental finances using Baselane for the last year and looking to see what other options there are. I like the functionality a lot but it seems that once a month there's a new bug to contend with that's eating into my time. Today it's not being able to internally transfer funds which has pushed my coping with them over the line and I'm interested in hearing if there's better options out there. 

Things that I'm looking for:

- The main feature I'm looking for is  the ability to create as many "accounts" as I want. I'm not sure if Baselane has a limit but I have one account per building + security deposits so would need at least 10. 
- The ability to create online debit cards has helped a couple of times but I'd categorize this as a nice to have. 
- Free would be nice but if it's paid and has extra functionality I would consider. 
- Interest earning (not a ****** 0.2% either). Saves me from having to transfer any amounts that add up into a separate interest earning account. 

The reason I ended up with Baselane is because I struggled to find a brick & mortar bank that would allow me the ability to create multiple checking accounts & has decent interest. If that exists I'm all ears. 

Thank you!


 I use Baselane, too, and haven't found it to be glitchy. I do like the ability to set up multiple accounts and sub accounts and I don't believe there's any limit. I also like being able to set up virtual credit cards and time them to individual properties. It just takes an extra step out of the bookkeeping when you automatically know what property it's associated with. I couldn't find any of these features at brick and mortar banks. I don't know that any platform has everything you're going to want - I haven't found one yet but this is as close as I've gotten. Personally, I'm hoping they bring on a portal for tenant maintenance requests. That's my top priority for wish list items and no brick and mortar bank can help with that, lol.

  • Bonnie Low
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