Baselane - Banking Solution for Landlords

[Jamie Banks]

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.