Is Baselane The Best Property Management Platform?

Jeremy BiberdorfBy: Jeremy Biberdorf

October 18, 2023October 18, 2023

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Managing rental properties involves meticulous financial tracking, which can be complex and time-consuming. Simplifying this task requires efficient accounting software tailored for landlords and property managers. Such software not only streamlines bookkeeping but also offers insights into business performance. In the U.S., the property management sector rakes in over $99 billion annually, underscoring the importance of proficient financial management in real estate. Consequently, several software options have sprung up to cater to these needs, but how many truly resonate with what landlords require?

In this Baselane review, we’ll delve into whether Baselane stands out as the premier property management software in today’s competitive market. We’ll gauge its efficacy in assisting landlords with tenant management, maintenance requests, and financial accounting, especially as tax season looms. So, is Baselane the best property management platform? Let’s investigate further.
Learn More About Baselane

What is Baselane?

Baselane, established in 2020, is a fintech firm crafted for the unique needs of landlords. While not a bank itself, Baselane collaborates with Thread Bank, offering distinct banking accounts tailored for property management.

Beyond banking, Baselane streamlines rental management, providing automated rent collection, detailed property valuations, real-time investment insights, and comprehensive bookkeeping services. Landlords can effortlessly draft lease agreements, derive rental rates, gauge the ROI of their properties, and even access services such as tax preparation and loans through Baselane’s collaboration with partners like Obie, TurboTax, LandFlow, and Sure.

Catering to both individual landlords and seasoned real estate investors, Baselane’s extensive suite of services, particularly given its free offering, makes it a solid choice in the property management sector.

Baselane Features

In order to answer if Baselane is the best property management platform, we first must understand what it offers. Let’s take a look at some of its most powerful features.

  • Baselane Banking Services: Developed in collaboration with Thread Bank, Baselane provides specialized banking solutions for landlords. This service offers the opportunity to establish multiple free banking accounts for different business types, including LLCs, corporations, and sole proprietorships, and even allows the creation of virtual accounts for better organization. Remarkably, there are no additional fees, making it a cost-effective solution.
  • High-Yield Savings and Rewards: Baselane’s financial offerings boast a notable 4.46% APY, offering lucrative returns to real estate investors. Furthermore, the Baselane Debit Card comes with benefits such as 5% cash back on initial home improvement expenses annually and a consistent 1% cash back on other expenditures.
  • Automated Rent Collection System: Streamlining the often-tedious rent collection process, Baselane enables landlords to receive payments in just 2-3 business days. This system provides a diverse range of payment options for tenants and equips landlords with a comprehensive overview of payment histories.
  • Comprehensive Financial Management: With its automatic tagging feature, Baselane ensures organized financial records, categorizing transactions as per the relevant properties. This feature substantially simplifies bookkeeping and reduces the manual workload.
  • Property-Related Insurance Services: Through its partnership with Obie, Baselane offers an avenue for landlords to obtain rental property insurance, potentially leading to substantial savings on their premiums.
  • Credit Solutions: Baselane’s collaboration with Landflow facilitates a streamlined process for users to acquire lines of credit, ensuring quick funding, sometimes in as little as a day.
  • Tenant Services: Integrated with TransUnion, Baselane offers a robust tenant screening system, whereas through Sure, renters can acquire insurance plans to secure their belongings and assets.
  • Real Estate Financing: Partnering with Lendency, Baselane aids landlords in swiftly procuring real estate loans, with a diverse range in terms of loan amounts and minimal verification procedures.
  • Inclusive Legal Services: In collaboration with Rocket Lawyer, Baselane equips landlords with essential legal documentation and advice. From lease agreements to eviction notices, this comprehensive suite addresses a myriad of requirements, all supported by digital signature facilities.
  • Tax Assistance: Teaming up with TurboTax, Baselane streamlines tax preparation processes, offering a range of services to accommodate diverse user preferences.

Baselane Pricing

Baselane offers its main features for free. While they’ve hinted at possible paid features in the future, they haven’t introduced any yet. However, services provided through their partners, like landlord and tenant insurance or loans, come with their own costs.

How does Baselane earn? Even though they don’t charge users for their main services, they profit from the interest on the funds in Baselane Banking accounts. They share some of this interest with users, offering a 4.46% APY. Their partnerships with financial service providers also bring in revenue, which helps keep their primary services free for users.

Is Baselane The Best Property Management Platform?

Determining if Baselane is the best property management platform largely depends on one’s specific needs. For independent landlords grappling with tasks like bookkeeping, rent collection, and maintaining documents, Baselane emerges as a superior choice, combining many necessary tools into a single interface.

Beyond its comprehensive suite for property management, Baselane banking also caters to landlords, property managers, and real estate investors with multiple assets. With enticing features such as competitive cash back on purchases, impressive interest rates surpassing the national average, and a streamlined approach to the entire rental journey from security deposits to the day tenants move out, Baselane offers an efficient, holistic solution.

Get started, for free, with Baselane today by clicking here.

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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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