Setting up Rent Collection with Baselane 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:
Select Rental Property: Select the appropriate Property & Unit for this Rent Collection.
Add Rent Details: This includes start/end dates, monthly rent amount, rent due date, recurring fees, and late fees.
Add Fees & Deposits: In this section, you can collect a security deposit, last-month rent, prorated rent, and any other one-time fees (e.g., move-in fees).
Review Payment Invoices: Here, you can see all of the invoices that will be generated. If you notice something incorrect, review your Lease Terms and update as required.
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.
Receiving Bank Account: Here, you select which bank account will receive the related monthly rent and fees. Separately, if you are collecting a Security Deposit, you will have the ability to select a different bank account to collect it. If you have not yet connected or opened a bank account, you will be prompted to do so.
For more details on how to open a Baselane bank account, see here.
To learn more on how to connect a bank account, see here.
Review & Invite Tenant: Once you have reviewed & submitted the Rent Collection terms, Baselane will automatically invite your tenant to join the Baselane Tenant Platform. You will also be able to copy the invitation link and send it to your tenant via any communication method you wish to use. This link will be available to copy after you have submitted the Rent Collection terms. See the image below to see where the link will be:
You will also be able to copy this link on the 'Rent Collection Details' page. To do so, follow the instructions below:
Go to the Rent Collection tab.
Under the ‘Active’ lease tab, click on the property containing the Rent Collection.
Under the 'Tenant Onboarding Progress' portion of the page, select the 'Copy Invitation Link' button.