Do I have to open a Baselane Banking account to collect rent?

When you create a Baselane profile, you gain access to our core features: Baselane Banking accounts, Rent Collection, and Bookkeeping. You can choose which products you’d like to use.

You are not required to open a Baselane Banking account to collect rent. You can securely link an external bank account instead. However, please note:

• Collecting rent into an external account incurs a $2 ACH fee (paid by either the landlord or tenant).

• Collecting rent into a Baselane Banking account waives this fee.

Benefits of using Baselane Banking accounts for rent collection

• Designed for real estate investors, purpose-built to handle rental property finances

• Unlimited virtual accounts, easily open separate accounts for rent collection, security deposits, reserves, and more

• Standard rent processing included, with the option to upgrade to Baselane Smart for 2-day rent payouts

• High-yield interest, earn up to 2.63% APY on balances in Baselane Savings accounts 

• One-click setup allows you to create virtual banking accounts instantly, separating rent received per property or holding security deposits.

For more details on interest rates and how APY is calculated, see: Baselane APY and Interest Details