Setting up Rent Collection is easy. First, you must have added a property. Please see here for details on adding a property if you haven’t done this already.
Once you’ve added your property, it will appear automatically on the Rent Collection page. You will be able to set up rent collection for every unit of a property. Open the expanded view of each property and select ‘Set up Rent Collection’ for a unit within that property. There are four simple steps to setting up a rent collection:
Define Lease Terms - This includes start/end dates, monthly rent amount, recurring fees, prorated rent, and late fees.
Detail Deposits and One-Time Payments - Here, you can choose to collect a security deposit, last-month rent, and any other one-time fees (e.g., move-in fee). You will be able to select due dates for each deposit and payment.
Select Receiving Bank Account - Once you’ve completed the above steps, select the bank account to receive the related monthly rent and fees and separately to receive the security deposit if applicable. If you have not yet connected a bank account, you will be prompted to do so. See here for details on how to connect a bank account.
Add Tenant Details - Add your tenant’s name and contact information. If this is a tenant that you have already added to Baselane (e.g., from a previous rent collection setup), select the Existing Tenant tab, and choose your tenant.
The final step will be to review & confirm the details. Once confirmed, we will automatically generate the rent collection invoices for the duration defined in the lease terms. We will also send an invite to your tenant to join the Baselane Tenant Platform. Your tenant will be able to view their upcoming invoices and pay rent directly on the Baselane Tenant Platform via bank transfer, debit card, or credit card.
Watch our quick How to Start Collecting Rent for more detailed information.