How does 2-Day rent work?

What is 2-day rent?

2-day rent offers users the ability to receive rent payments within 2 business days, providing faster access to funds and helping you manage your cash flow more efficiently. 2-day rent applies to rent payments deposited into Baselane Banking accounts and external bank accounts.

2-day rent is available as part of Baselane Smart. To enjoy a 30-day trial of Baselane Smart, log into your Baselane account and click the Smart “Upgrade now” icon in the main navigation bar.

Benefits of 2-day rent 

When using Baselane Banking with 2-day rent processing, you also unlock:

• Automated rent and property categorization
• Integrated banking and bookkeeping
• Unlimited banking accounts per entity
• Virtual banking accounts to track expenses and performance per property
• No minimum balances or monthly fees
• High-yield savings accounts

Which payments are eligible for 2-day rent?

All payments are eligible for 2-day rent for tenants of Baselane Smart users, with two exceptions:

1. payments from tenants who previously had a failed payment, and;
2. payments for invoices greater than $8,000.00.

Note: If a tenant fails a payment, to become eligible for 2-day rent again, they are required to complete two successful rent payments [at standard processing times] over a minimum of two different calendar months. Payments greater than $8,000 will be subject to standard processing times.

How to check if a payment was processed with 2-day rent 

1. Navigate to the Rent Collection tab.
2. Under Active Lease, click on the tenant’s lease details.
3. On the Rent Collection Details page, click View All Invoices.
4. Look for invoices with a green lightning bolt icon — this means the payment was processed with 2-day rent. This applies to both Completed and Processing invoices.

How to check if a tenant is eligible for 2-day rent 

1. Upgrade to Baselane Smart to unlock 2-day rent
2. Go to the Rent Collection tab on your dashboard.
3. Under Active Lease, select the tenant’s details.

4. In the Tenant Details section, look for the status 2-day rent Eligible next to the tenant’s name.

   Note: Tenant eligibility may change depending on payment history.

Understanding Rent Payment Processing Times

For Baselane Core users, the standard processing time for rent payments is 5 business days.

Baselane Smart users have access to 2-day rent, allowing eligible payments to be deposited in as little as 2 business days, whether the funds are sent to a Baselane Banking account or an external bank account.

Payment Processing Timeline

• 2-day rent: Available to Baselane Smart users for eligible payments to Baselane Banking accounts and external bank accounts. Payments arrive in 2 business days.
  
   
• Standard Processing: For non-Smart users, all rent payments are processed within 5 business days.
  

How can I help ensure my tenant’s payments are processed in 2 days?

To maximize the chances of faster processing:

1. Upgrade to Baselane Smart to unlock 2-day rent.
2. Ask tenants to maintain sufficient funds in their accounts a few days before rent is due until the payment is fully processed.

If you have questions about your rent payments, please contact us at support@baselane.com.