Getting The Best Price On Baselane

Jeremy BiberdorfBy: Jeremy Biberdorf

December 17, 2023December 17, 2023

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In this Baselane review, I will dive into how Baselane stands out as a comprehensive solution for independent landlords grappling with the complexities of managing a rental business. Dealing with rent collection, tax filing, and numerous other administrative tasks can be daunting. Baselane offers a tailored solution, integrating banking, insurance, and property management features specifically designed to streamline these processes for landlords and renters alike.

For independent landlords, the traditional approach of hiring bookkeepers or subscribing to multiple software services can be costly and inefficient. Many resort to managing their real estate financials through basic tools like Google Spreadsheets, but this manual method is time-consuming and often cumbersome. Baselane emerges as a viable alternative, offering an all-in-one financial system that consolidates about half a dozen tools essential for managing and growing investment portfolios.

If you’re at a point where you seek a more automated process for managing your real estate portfolio, Baselane might be the answer. It’s particularly useful for those looking to free up time spent on administrative tasks to focus on activities like vetting new tenants or scouting for new properties.

Its comprehensive suite of tools is designed to simplify the complexities of rental management, making it a potentially excellent fit for those considering investing in real estate or those already struggling with the demands of their rental portfolios. Overall, getting the best price on Baselane could mean significant time and resource savings for independent landlords, making it a worthy consideration in the property management landscape.
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What is Baselane?

Baselane, established in 2020, is a fintech platform offering a fully integrated financial solution designed for landlords. While not a bank itself, Baselane partners with Thread Bank and Blue Ridge Bank, N.A., Members FDIC, to provide specialized banking services. This partnership enables a wide array of products for landlords across all 50 states in the U.S., including free bookkeeping apps, rental collection options, and business checking and banking services.

Additionally, Baselane offers integrated paid products like loans and insurance for landlords.

The platform stands out by providing real-time insights into investment properties, property valuations, and comprehensive income statements, catering specifically to the needs of both independent landlords and seasoned real estate investors. With its combination of free and paid services, Baselane is a comprehensive, convenient financial solution in the property management sector.

Getting the Best Price on Baselane

Now that we have established what Baselane is, let’s get into the important stuff, like price. Baselane offers its core features to landlords and tenants entirely for free. This approach makes the platform particularly accessible, as users can utilize various tools without any cost. As of now, Baselane has not introduced any paid, premium features, although there have been hints that such options may be available in the future.

It’s important to note, however, that while the primary services of Baselane are free, certain offerings provided through company partnerships do incur costs. These include loans for landlords, landlord insurance, renter’s insurance, and other partnered services. For instance, if a landlord opts to take out a loan with Lendency, they will be subject to the fees and interest stipulated in the loan’s terms and conditions.

Baselane’s revenue model is primarily based on these partnerships with financial service providers. The fees generated from these services enable Baselane to maintain its core offerings free of charge for its users. This model ensures that landlords and tenants can benefit from Baselane’s services without upfront costs, while the company sustains its operations through ancillary financial services.

Baselane Benefits

Here are the main benefits you can expect from Baselane:

  • Free Banking Services Through Blue Ridge Bank: Baselane’s partnership with Blue Ridge Bank, an FDIC member, allows it to offer unlimited free banking accounts for various business structures and individuals. These accounts stand out for having no additional fees or minimum balance requirements.
  • Competitive Interest Rates and Cash Back: Real estate investors can benefit from an industry-high 4.46% APY and unlimited 1% cash back, including on security deposits. There’s also a 5% cash back offer on home improvement expenses with the Baselane Debit Card.
  • Automated Rent Collection: Baselane simplifies rent collection, allowing landlords to receive payments in 2-3 business days. Tenants can pay via debit or credit cards and ACH transfers, with a 2.99% fee. Landlords can receive payments directly to their Baselane or external accounts and automate payment reminders.
  • Comprehensive Bookkeeping and Accounting Software: Baselane’s software enables easy tracking of financial transactions, categorization of expenses and revenue, and provision of automated cash flow summaries. It supports tracking of various property-related expenses and integrates with external bank accounts.
  • Range of Financial Services Through Partners: Baselane offers services like rental property insurance, lines of credit, renters insurance, and real estate loans through partnerships. These services are designed to help landlords and tenants alike, with features like instant insurance quotes and quick funding for real estate investments.

Final Thoughts

In my final thoughts on Baselane, it’s evident to me that the platform is an indispensable tool for landlords seeking efficiency and value. Baselane’s suite of free services, including advanced banking options, automated rent collection, and comprehensive bookkeeping, plays a pivotal role in getting the best price on Baselane. This aspect is crucial for landlords who aim to maximize their investments while minimizing costs.

Moreover, the added benefits of competitive interest rates, cash back on various expenses, and a variety of financial services through partnerships make Baselane an even more attractive option. The integration of essential legal and tax services further enhances its utility, positioning it as a holistic financial solution for property management.

For landlords looking for a cost-effective, all-encompassing tool to manage their real estate investments, Baselane stands out as a top choice. If you’re interested in exploring how Baselane can assist in getting the best price for your property management needs, Click Here to learn more.

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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