Properties — and the units within each property — are the foundation of the Baselane platform and are key to many aspects of everything from rent collection to transaction tagging, as well as how we track your portfolio performance. As such, setting up your properties on the platform is an important part of getting started on Baselane.
To add a new property, go to the Properties page and click ‘Add Property.’ From there, you’ll see two key tabs to fill out in order to add your property:
Property details - This includes the type of property, address, and the number of units. Each property can contain multiple units (rent is collected on a per-unit basis). This step is required to set up a new property.
Property Financials - Once you have added a property, you can now click on the ‘Details’ button next to the property to input the property financials. This includes purchase price, current market value, and mortgage details. These inputs are optional, but they are used to calculate your performance metrics, so you’ll want to ensure they’re accurate. If you don’t have this data handy, you can come back and update this at any time.
Watch our quick video on How to Add a Property for more detailed information.