Collecting rent should be simple, secure, and fast. That is why Furnished Finder partners with Baselane to power online rent, deposit, and fee payments. Instead of chasing checks or managing transfers manually, you can offer tenants a professional online payment experience and receive funds directly to your account.
With Baselane, you get secure processing built specifically for rental properties, 2 day payouts with Baselane Smart (a $240 value, free for Furnished Finder customers for 1 year), and dedicated payment support when you need it. Below, you will find everything you need to know about how payments work, how quickly you get paid, and who to contact if questions come up.
Who handles rent payments?
All rent payments are handled directly by Baselane. Furnished Finder does not process, manage, or store rental payment information. This keeps payments secure and supported by a platform built specifically for rental properties.
Who do I contact with a payment question or issue?
Baselane’s support team is your best resource for anything payment-related, including failed or delayed payments, refunds, disputes, chargebacks, or security deposits. They manage these issues end to end and can help resolve them quickly.
- Phone number: +1 (888) 586-1618 - answered Monday-Friday from 9AM to 6PM ET
- Email address: support@baselane.com (opens in new tab) - responded to Monday-Friday from 9AM to 7PM ET and Saturday-Sunday from 9AM to 6PM ET
- Chat is accessed directly in Baselane
- Messages are reviewed and responded to: Monday-Friday from 9AM to 7PM ET, Saturday-Sunday from 9AM to 5PM ET
-Agents are available for real-time chat: Monday-Friday from 11AM to 4PM ET
- Help Center (opens in new tab)
Does Furnished Finder manage my Baselane account or payment details?
No. Your Baselane account is fully managed and supported by Baselane, and Furnished Finder does not have access to your account or payment data.
Do I need a Baselane account to use online rent payments?
Yes. If you choose to use online payments through this partnership, you’ll create a Baselane account. Baselane manages the entire payments experience directly.
How do tenants pay rent?
Tenants are directed to a secure, Baselane-hosted page where they can pay rent online. All tenant payments are processed through Baselane.
What payment methods are supported?
Baselane supports rent payments via:
- ACH (bank transfer - as low as $0 fee)
- Credit card (tenants are charged a 3.49% processing fee)
- PayPal, Venmo, and Cash App can be used with a Baselane Banking account to send, receive, and to transfer funds to and from a Baselane Checking account - more details (with some caveats) can be found in this support article (opens in new tab).
Zelle is not supported at this time.
How long do payments take to process?
All Furnished Finder customers can get a free, 1-year subscription to Baselane Smart, which provides a 2-day payment processing time. Processing times are handled by Baselane and may vary based on payment method and bank processing. In most cases outside of Baselane Smart, payments are completed within 5 business days or less. For specific timing questions, Baselane support can provide the most accurate guidance.
How quickly do I get paid?
Furnished Finder users, thanks to Baselane Smart, receive rent in 2 business days. Standard processing time for rent payments for users not on Baselane Smart, is 5 business days. See payment processing times here (opens in new tab).
Can I prorate the rent I charge a tenant?
This is located on Step 3 of the set up rent collection flow and is not automatically calculated. The user will have to calculate themselves and enter the amount and due date.
What happens if a payment fails or is delayed?
Landlords and Tentants receive email notifications when payments fail. Baselane investigates and resolves any failed or delayed payments. If an issue comes up, landlords or tenants should contact Baselane support directly.
How does the payment show up on my bank account?
Baselane payments for rent display like this: Baselane | alpha numeric invoice #
Due to description limits we can not list the name of the tenants so we list the alpha numeric invoice # that is displayed per invoice
Who manages security deposits?
Security deposits are managed by the landlord. Landlords can use Baselane’s tools to collect deposits, hold a portion, return funds, or issue refunds. Any questions about how to use these tools should be directed to Baselane support. Learn more about Baselane’s guide to security deposits here (opens in new tab).
Do Furnished Finder customers receive priority support from Baselane?
Yes. Furnished Finder customers receive priority handling when contacting Baselane support, though resolution times may vary depending on the issue.
Why did Furnished Finder choose Baselane?
We partnered with Baselane to offer a professional, purpose-built payments platform designed specifically for rental properties. This allows Baselane to focus on payments and banking, while Furnished Finder stays focused on what we do best—connecting landlords and tenants for reliable monthly rentals.
Baselane is trusted by over 50,000 real estate investors, has an Excellent, 4.6 rating on TrustPilot (opens in new tab), and processes over $3.1 billion in payment volume each year. Baselane also offers FDIC insurance up to $3M on funds deposited via Thread Bank; Member FDIC. Baselane uses enterprise-level encryption and security monitoring to protect customer data.
Can tenants contact Baselane directly?
Yes. Tenants can contact Baselane directly with any questions or concerns related to their rent payments.
Get started with Baselane by clicking here to set up your account and activate online payments (opens in new tab).
Step by step webinar: live demo
Want to see exactly how Baselane works for midterm rentals? Watch our full webinar walkthrough to learn how to set up online rent collection, automate payments, and get faster payouts step by step.
Webinar Transcript
Hello everybody. If you guys can see and hear me, if you can say hello in the chat, let me know that my tech is working. Hi. Oh, great. Okay. I'm so glad to see that everybody is able to join today. This is so exciting. We have a really exciting presentation for you guys today and we are gonna be able to make it interactive as well to make it very valuable for everybody.
I am going to invite my co-host Saad Dar to the stage. And full disclosure, we have never done a webinar with two people on stage like this before. So be patient with us if we need to figure out this tech for a minute. But I'm really excited to see this happening from Texas, from Ohio. This is awesome.
You guys are from all over. I love, love, love to see it here. Saad. Okay, so while we get settled and Saad hops on and joins us I am just going to give you guys a little bit of an intro of what we're gonna be talking about today. So today we're gonna be talking about the smarter way to connect rent for midterm rentals.
A lot of you are you're all in the midterm rental space. Hopefully you have had some successful bookings and you are already collecting rent in one way or another. And we wanna talk to you today about the best practice of how to collect rent, how it can benefit you the most. And how that really works from not only like a strategic position of why you should be doing it, but also from a walkthrough standpoint and seeing how it works firsthand.
I know I'm a very visual person and someone can tell me something all day, but I need to see it. So we're gonna go through that as well. I love webinars to be super action packed and packed with as much value and information as possible. So if you are going through this webinar and you're like, oh my gosh, I missed that, I wanna see it again.
I helped on late, I have to leave early, whatever it is, no problem. This will be automatically sent to your email as a recording, whatever email that you jumped on with or that you registered with. So don't worry if you miss it or you want to watch it again I know oftentimes I'd like to go back and reference stuff as well, so it will be recorded.
So let's get into what we will cover today. We're gonna go through what are online rental payments. I know this might seem fairly simple to a lot of you. But hang on one second. I'm just having, trying to help Saad get in, get into our stage here. Okay. We are going to. Go through why online rent payments matter, right?
Why does it matter how you collect rent? Isn't collecting rent? Just collecting rent? Why? Why does it matter that you do this via on an online process? And what is that process? Then we're gonna go through some examples from. Landlords and say, okay, what does this, what does it look like in real life if someone's using this?
And how does this work? In practicality, then we're gonna do a live walkthrough and so is gonna show us exactly how Baselane works. Baselane is who we have partnered with on the online rentals front and we're really excited about this partnership. They have an unbeatable product.
So we're gonna share that with you. And then one of my favorite parts is a live q and a. So if you have any questions at any point in this webinar, I want you to put them in the chat. We have two moderators that are in the chat and they will be answering your questions live, Kate and Candace. And if you have any questions that are really great for the group to hear or maybe they require a little bit more explanation, they will flag them for Saad and I to answer at the very end.
Okay, so I am going to share a poll. You should see it pop up for you now, and I would love it if you take a second answer that poll. And let me know how you are collecting rent right now. This is one of the big benefits about attending the webinar live today and taking a little bit of time out of your day is because now I can cater and Saad when he's able to join us, can cater exactly how this is going to work.
And the benefits compared to what you are currently doing. So I see a lot of you are on Venmo or Zelle some checks some bank transfer, a pretty strong diversity here but a lot of you are using Venmo or Zelle. So why do online payments matter? Why do I need to switch to something that isn't what I'm doing right now?
First of all, we wanna make sure that the experience is professional and it's secure for you. Okay? So we wanna make sure that you are, we wanna make sure that you are collecting rent in a structured way and that it's processed through a trusted platform. Okay? This is gonna reinforce your professionalism with tenants.
And this matters if you even have just one rental or you're renting out one room, it matters, okay? The clarity and control is a real time payment status and you're gonna get a lot of visuals. Andrea, I see that you said you're using key check and Furnished Finder. It's not a poll option. You are right.
I only had five choices, so I didn't put that one five options, but, that's great to hear and you are gonna love some of the details about this is like our new and improved offering. So we looked at the existing payments one through Key Check, and we were like, how can we make this better for a landlord and a tenant?
So you're gonna love it. Centralized payment history, right? Having everything in one place, having clear records for a better cash flow and visibility and then having on-time payments. Guys, this is really big. We all have a million things going on, A million things going on. I'm trying to juggle being a landlord.
Me and my family have 13 midterm rentals ourselves. You can see them back there. And working full-time at Furnished Finder, which I absolutely love being a mom. All these things. The last thing I have to, I have time to do is send a tenant, a text. Hey, I didn't get your rent on the first of the month.
Now it's the fourth. Have you had a chance to submit it? So this is really important that it's gonna handle all of that on time for you so you can get that consistency and that credibility. Okay. So one thing I've heard a lot while going through the process of educating people about this new system and about online payments in general, is my payments work just fine.
Right now I'm using Venmo, I'm using Zelle, and my tenants are mailing me checks and it's working fine. Why would I change? And I'm here to just challenge your thinking for that. And I want you to say, just because it's working, is it working to the best way that it can? Is it serving you in the most positive way possible?
Okay. Are you having to follow up with tenants? Are you having to say, did you send it? Are you having to do manual tracking? Are you doing spreadsheet reconciliation of your expenses and your income? Are you sending late payment follow ups? How much time and brain space is this taking from you? And the next thing I wanna talk to about this front is just that professional tenants are gonna really expect a professional payment system and a professional renting experience.
You want to be seen as a professional landlord, right? Someone who, can be relied on someone who puts that lease in place. And there's no question about the authenticity or the professionalism of the experience of renting from you. And that can get a little bit questionable if you're saying, Venmo me your rent.
Just like I ask my friend to Venmo me for pizza when we go out. Okay. We wanna make sure that is all in alignment. Some of the hidden costs of traditional payments, and this is, these items, IBM in specific are where we were very intentional when choosing to partner with Baselane. And introduced Baselane a little bit more and a bit, and we'll get into those details.
So if you're still wondering what is Baselane? Who is Baselane, don't worry, we're gonna get there. But these are some of the most important things that users and landlords might not think about when they're using things like Venmo, Zelle, check or other platforms. Landlord fees. We Furnished Finder are very passionate about you keeping as.
Much of your rent is possible. That's why we have no booking fees. We take absolutely no commissions. If you're charging $2,000 of rent, you're going to get $2,000 of rent. With Baselane the fees are incredibly minimal. We have yet to really find something that is better. They're pretty unbeatable in the sense with ACHs as low as zero.
And if someone wa if you have a tenant, I've had a lot of tenants who have wanted to use a credit card in the past because they like to rack up those miles or they like to put it on their company card if they're traveling for work or whatnot. They're able to do that at a really competitive rate.
The support, if you're using Zelle or Venmo and your tenant sends money to the wrong place, or you have an issue. There is no support for you to call. There is no there, there's no help on that other end. It's just what it is. With Baselane, they have all Furnished Finder customers get a VIP ticket to the customer service.
And it's made for this type of transaction. It's made for landlords and tenants. And that speaks to this ne next point about being designed for rent, right? Venmo and Zelle are made for paying your friend for pizza when you go out paying the babysitter, right? Maybe splitting some expenses here and there, but they're not designed for rent.
So when stuff goes wrong, if it goes wrong you're gonna run into some really hard issues that are hard to solve. And leading into that next one, which is payment security, I would love it if you guys in the chat, let me know if you have ever had any issues with any of these.
Okay. Have you ever had an issue with payment security? Have you ever had an issue with the fact that you are having to send manual late payment reminders or that you have payment limits, right? Maybe someone sends you Zelle and they can only send $500 a day or something like that. Let me know what types of challenges that you have experienced with the online payment methods or the traditional rental payments that you have been using or have used in the past Zelle limits.
The, I've only used Zelle a couple of times, but firsthand it is very frustrating. I'm like, what do you mean someone sent me money and I can't have it all right now? That seems very unfair. So I'm very interested to see if you guys have had challenges there. So what happens when you move to online payments with Baselane?
What's the big advantage? What's gonna set you apart here? Visibility. Is huge, right? Knowing at a glance who has paid, who's pending what rent is late, and knowing that this is automatically happening in the background. Kenna, I see that you said key check takes too long to get rent. You are right.
That is a big pain point we had with our all our old online payments product. And one of the big reasons with Baselane, you're gonna get payouts in two days, which is amazing. Automation, right? Those things are gonna happen in the background for you. We are in this world now where things are happening quickly.
We have a million things going on. We need to let things run automatically when we can. And from a tenant perspective that takes you, you're no longer the bad guy, right? If rent is a day late and there's a late fee that's with it, you're no longer just texting about it and being the bad guy. It's coming automatically from the system.
Organization is huge. It's something I will forever be working on. And I know a lot of landlords and entrepreneurs at heart are like that, but payment tracking and record keeping for bookkeeping. And guys, this isn't about being fancy. This is about being smart. It's about being efficient. It's about even if you only have that one property, that you're making sure that you are operating it right and operating it in a way that lets you live your life outside of being a landlord the best you can, and then being that professional, right?
Like having that impression that you want with your tenants. So let's talk about these tenants. You guys are all on Furnished Finder and one of the biggest reasons that we hear and personally that I know that I'm on Furnished Finder is I love the types of tenants we have. Travel nurses are some of my favorite tenants.
I have a lot of corporate travelers now too. They're my favorite. They're very responsible, right? They're paying on time. A lot of times they're using stipends. A lot of times they're using a company card. A lot of times they're using a separate account to pay with, and they're traveling under a professional pretense, right?
So when you ask them to send you a Zelle or a Venmo or mail you a check. It puts these hurdles into place and it changes the dynamic. And so I'll let you speak to this, but you've done some research into what tenants prefer to pay with and the overall preference for wanting to pay for things online.
Yeah. Hey everybody. Sorry I was having some issues and getting kicked out earlier, but sorted it out. It's alright. We got you. Yeah. Nice to meet you. I'm also a a landlord and investor in short-term, midterm and long-term investments. I actually have a couple of midterm rentals that are probably doing the best out of everything, so it's been nice.
Love to hear it. Yeah. And yeah, super excited to partner with, Furnished Finder. So I lead partnerships and sales at base lane. And I'm here to talk to you a little bit about, some of the benefits of these things, but also show you the product and answer questions. So look, looking forward to that.
I think, my background's in FinTech and I've been working in this space for quite a while. I think when we talk about payments in the us a lot of industries have moved to online payments, right? Everybody's setting things up on autopay, your Netflix, your utility, Verizon bills, whatever you have.
And it's not a surprise. We were looking at a survey that was done actually within the last two years where 85% of overall preferences for tenants or renters, is to pay rent online. And that's because people don't want to carry cash. A lot of people don't carry cash anymore as much, any, and that's a trend, everything's on the phone these days.
As you guys know, cards are used more prominently with tap and things like that too. This is not a surprise, but this is good for, I think all of us landlords to understand because it helps us level up, provide the level of service that our renters and tenants want, and be professional at the same time and save yourself a lot of headache and manual work that we otherwise would be doing.
Yeah. Happy to share more about the experience as we go into it. Yeah. Love it. And thanks for joining us. Sorry about the tech issues. We are, I always tell everybody we are live and tech can be very unforgiving. When we do these live, there's always that little quirk that comes up. But yeah, these midterm rentals are great and we all love 'em, right?
They have, we. These types of tenants that I've put here on the right. You've got interns, you've got corporate workers, you've got all of these people, and they're going through a tenant screening and then signing a digital lease, and you're really breaking that professional experience. If then you say, okay, now go ahead and send me a Zelle, right?
Or send me a Venmo. And all of a sudden it just, it really shifts a dynamic and it's not the preference for these tenants. Okay. We, online payments are, they're secure. They protect us all from fraud. And I think that preference is so strong, and especially what you're speaking to Saad that, that survey showed such a strong preference because of all those reasons that are so important.
I hear a couple people in the chat saying they can't hear. Can you guys just gimme a quick thumbs up if you can hear us? I know sometimes there's issues. Okay. I think we can hear them. Okay, great. Yeah, sometimes it's, I can hear you as well. Sometimes individuals. Okay, great. If you're having issues, guys pop out and pop back in.
Tech is, you know what it is, so it can be hard. Okay. All right, so how do online payments work? If you're talking about a general payment app, like a Zelle or a Venmo or something like, depositing a check on your phone, even the fees might vary. You're not gonna experience things that are built specifically for rent payments.
You're gonna have those daily limits. Baselane. Some of the biggest perks that even as a landlord myself, I love is zero landlord fees. Coming back to, if I'm charging $2,000 of rent, I want $2,000 of rent. I don't want it by the time it hits me to be at 1500 or 1700, it's really important for business, right?
Recurring rent payments, automatic reminders, all of these things that are gonna help us function in our role as a landlord in that relationship. Great. So Saab, do you wanna take us through kinda Yeah, sure. Use case one of Sarah. 'cause I know I wanna hear from you a little bit more since we got a late start with you.
Yeah. Yeah. Thank you. Can everybody I see, I think people can hear me and my audio is showing that it's working, so if you can't, yeah, I think you're good. It seems like maybe one or two people are not able to hear. What we're doing right now is just showing you a few kind of use cases and stories of, the experiences.
And then we're gonna go and show you the product and walk you through all of it and actually do a live sample brand collection set up with you so you can see. And then we'll take tons of questions, just so you know where we're going with this. And I'll go quickly here. This is Sarah. So we look at.
Each of these use cases. 'cause this is common, like if you're using Venmo and Zelle, you're not alone. It's been quite common 'cause we've been using it for personal reasons, like paying friends for food. We start using it for professional reasons. So here's an example of Sarah. She was using Venmo where, she had to basically do things manually.
So you can see she had to like, remember to send the rent. She had to check manually if things had come in. One thing that we often don't understand with these P two P peer-to-peer apps is there's no automation. There's no late fees being charged and assessed automatically. And there's no reminders going out for rent before it's due, after it's due and so on.
So that's a challenge. And then, you have to track things separately. So I've met folks that, have like eight properties, two properties, whatever. It's one property, they're doing it manually and takes a lot of financial stress to do that. And when you do taxes, it's also harder because you might have co-mingled your funds.
With a personal bank account, if you're using Venmo or a Cash app or something like that, or even a Zelle, and here you can see that it seems like Venmo's Instant, but Ven Venmo's not instant. Venmo wallet is instant, but if you want to use that money outside in a, in your own bank account, and you have to still transfer it or pay them to transfer it faster.
And so there's a perception that you have the money, but you don't really, you can't really use it in the way that you might need to. And so that was like the issue. And I think, if you go, I guess to the next page here what's the experience like with Baselane? So we're showing you examples and then we'll go into the details of how to set it up.
With Basin, you can set up recurring rent and onboard your renters pretty seamlessly. Renters have the option to, set up automatic payments or pay manually. They get reminders via email and text messages, and it's pretty simple for them to pay through a CH debit or credit card. And the, we have a payment timeline, so could, you can see where's your money, things like that.
We also send you emails so you don't have to log in to check what's going on. I just look at my emails and say, oh okay, rent is on the way. I'm good, and I move on. If it's late, you get a reminder, your tenant gets a reminder and, we, we keep sending those for a few weeks as well. The deposits and the rent live in a centralized system because Baselane is a financial platform and we have like rent collection, we have banking and other features.
We can organize that for you. And we can pret tag and auto tag rent, things like that as well. Income and expenses are automatically recorded, so what this means is. If you're collecting rent and then paying the mortgage Baselane has the capabilities to be able to help you autotag those things.
So your bookkeeping is also getting done. And then the two days, this is quite popular, everybody wants to have funds faster, but understandable because you wanna pay the mortgage, you wanna pay the bills that you owe, right? And with Baselane Smart, which is being offered to all Furnished Finder users for the first year, you're gonna get the two business day rent, which allows you to get that in your bank account and then actually use that money.
So that's an important thing of course for all of us. So that's like a high level of the Venmo story, the before and after. I think for me, the main thing is I've spoken to probably hundreds and thousands of landlords over the last few years. It's the attention. The timing. That is one of the bigger benefits for me.
I hear a lot of people saying Hey, I only have one property. I only have two properties. Why do I need this? I'm okay. It's you wanna be professional, give your tenants what they need, but you also want the money faster and you want less stress, less manual work. So you know, whether it's during that month or for tax time, you're more organized.
Those are like some of the benefits here. I think we can keep going. There's a Yep. One or two other examples. All right. Do you want me to walk through Mike? Yeah, please go ahead. Alright, cool. Okay, so this is Mike. He has two rentals, so he is in that space. He is got more than just the one property.
He is not quite building a full portfolio. I know a lot of us are not. But a lot of us just have one or two properties and he's a little old school. He likes cash and check. His properties are local, so tenants mail a check or they drop it off. He waits for the checks to arrive. He's gotta confirm the payment.
He's got to make sure that those checks clear. And then he, his deposits are gonna require separate tracking. If a tenant pays late, he's gonna have to go and manually, he's gonna have to call them. He's gonna have to text them. He's gonna have to deposit all of those checks and make sure that they are identified properly within his systems and not just as check number 4 7 2 on his bank statement. He is notorious for some commingling of funds, which I know probably all of us when we're getting started are guilty of to some degree, but it's gonna make your life a lot easier if you separate out everything financially from your rental and your personal life, even if you only have one property or you're renting one room.
So for Mike. He was really used to this system, right? Nothing felt chaotic to him, even though this feels a little bit chaotic to me. But every payment required his involvement, whether that was him cashing the check, making sure that it cleared, identifying it on his bank statement for his, his tax prep later.
Like he had to be involved in every step. So when he made the switch over to online payments with Baselane. He got to fully take advantage of the automation, right? So the rent setting up as occurring. So instead of having to deal with paper checks coming in, he now just got these emails, right? And it was your rent has been paid, so and so has paid their rent for the month of whatever it is, right?
The payment status is visible immediately. He's not waiting on the mail. There's no more. The check is in the mail. I mailed the check. I don't know why you haven't gotten it yet. I mailed the check. The deposits and the rent were all in one place, and those automatic record reconciliation, so this just became more automatic for him.
So again, he could switch to putting his time and effort somewhere else while making sure that it worked the best for the tenants. And that's an important thing I really wanna make sure everybody understands here, is this is not only significantly better for you as. A landlord, but it's way better for the tenant experience.
I Who in the chat can you put, if you still own a checkbook? Because I know the younger, the generations are getting my, my children don't know what a checkbook is. We I have one, but I can tell you I probably write one to two checks per year. So I would prepare yourself as you are getting younger and younger tenants, as those millennials are starting to become your tenants it is gonna be tough right?
To accept a check. Yeah. Lorraina me, but I barely use it. It's sometimes it's like where like I have a checkbook, but I'm like, where did I put that? My son was actually at an event at a big conference at a hotel a few weeks ago, and it was a cashless hotel. The entire hotel, he could not pay with cash.
So he wanted to buy a snack, he had to have digital payment, right? So this is like where we're going, and you wanna and it's for everybody's benefit, right? It's not only for you as the person accepting the funds, but it's for security and convenience and ease of payments, and just this is where the road is going.
You want to make sure that you are placing yourself and your business. And again, even if you have one property, one room, you have a business, you want to be where everybody is going, not where they're coming from, okay? You wanna make sure that you're ahead of that. All right. Sa do you wanna talk about Kelly and Dave?
Yeah, Kelly and Dave Kelly, some of you might already know because she's part of Furnished Finder. Yeah, so Kelly and Dave, I met them a couple years ago actually, so it's been fun to get to know them at conferences. I think again, I, they had eight different listings and were using Zelle.
Similar story. There's like the short-term convenience of Zelle that feels like it's worth it, but then the long-term pain starts to seep in where you have like daily limit issues, especially with nicer rentals. If you guys have like nice furnish units, you get these issues with renters not able to pay you the amount that's due, then you split it up into smaller amounts and then you can't do the bookkeeping.
'cause then you can't remember how much you got paid and what the total was. And did I get my money for month one, two, and three and four and so on. That was an issue. And without like having a automated rent collection system with reminders, they were like basically chasing and tracking everything again manually.
And that caused actually stress between the both of them. And Hey, I thought you were doing this. I thought you were doing that. Like it's just like more people have to get involved. And there's no credit card options. This is another thing modern day millennial is walking around with, more than five credit cards. That's an, yeah, that's probably a low number and in their wallet and their phones. And this is a quite common request these days for those points that Katie was talking about. And then depending on if you are using the smaller ones, it may not have this.
So the solution here, again, able to schedule payment, able to take large amounts, larger amounts that you need for your nice, properties. There's notifications on both sides and reminders and late fees are assessed automatically, which I think should be done for really any rental property.
What, no matter what it is tenants can enroll in a secure platform with, bank rate security. They can pay through a CH debit or credit card. The fees are deposited into, a basin banking account or a external bank account, depending on what you have. And you can, again, automate your income and expenses.
We're not gonna talk about that today because the bookkeeping part of it, that might be a future training, but there's a lot of benefits to that once you start using it. And your CPAs will love you as well. So that's a kind of a story on the Zelle side, just to give you like a flavor of the different experiences.
And you can see the themes through each one, right? Whether it's cash check, Zelle, or Venmo. It's a similar theme. Each of them have their own challenges. And this is why we're talking about doing online rent collection for for you and to use Baselane with that. Yep. All right, you guys, I've seen a lot of people in the chat say, okay, but I wanna see it in action.
What does this look like? What does it, we're doing a lot of talking, so what does this all look like? One thing I wanna address just really quick is I've seen a couple of people talk about what does the advantage against key check, right? Because as furnace grinder, we have offered online payments through our sister company Key check for years.
And the answer to this is really short and sweet. It's faster payouts. You're gonna get your money significantly faster, and there's gonna be lower rates for the fees for processing payments have always been passed to the tenant. That's very industry standard. However, they're much, much lower with base lane, so your tenants will be much happier and it's just gonna fit more into what they are expecting.
So let's see it in action. First of all, how do you get to Base Lane? You guys have set, have certain privileges and advantages of access accessing Base Lane and signing up through your Furnished Finder account. First of all, remember that signing up for Baselane is free for you. Okay? When you do have a fee that is associated with an online rent payment, the tenant is going to pay that.
So I'll let you talk about the details of their fees, but they're incredibly low when you're speaking to a competitive aspect. But you're gonna go to your landlord dashboard and you're just gonna click under landlord tools and then online rent payments. It's easy to find right now 'cause it has that little new tag on it.
It's gonna bring up this page that you see at the top that's gonna explain what Baselane is, how it works, and then you're just gonna click Get Started and it's gonna take you straight to Baselane to get started. Now, when you register with Baselane through Furnished Finder you are gonna get a few things.
You're gonna get the IP customer service, right? So when you need help, if you do, you and your tenants are going to get priority service from their awesome customer service team. You're also gonna get Baselane smart for a year, which is a $240 value. And so can explain that a little bit more when he does his demo because he's an expert in that.
But super valuable and remember, it's not gonna, it's not gonna cost you anything, right? So it's truly a leg up here. Okay. Alright awesome. So I'm gonna actually share my screen and, yep, go ahead. We're gonna do is, it's a demo, but it's like a live training also just to show you how to set up rent collection.
And so whether you're waiting for a new renter right now and you're in the middle of it or actually about to, invite somebody into your home and you wanna learn how to invite them using base lane, we're gonna use this as an example. So you saw the screen where Katie was showing you how to, in the Furnished Finder portal, find base lane.
It's important that you use that link. If you go and do it independently, you will not get these benefits that we've been talking about, like the Baselane smart VIP customer support and all those things. Just wanna make sure that people are following the link. That's important. 'cause that's the only way we can understand, that you're a Furnished Finder partner client.
And so once you do that, you're gonna create an account and that's just, through your Google account or email, password, et cetera. Answer a couple of questions or you're gonna end up in this screen. And this is a demo count just for the YouTubes of the world out that these are, this is all fake data and it's a full demo count.
Just keep that in mind. And can everybody see my screen here? There seems like there's a it's like a little gray for some reason.
Is that appearing great to you guys or is it white Saad? I can see your screen. Okay. So I think you're right. Okay. Okay. See, okay, you can see it screen. Okay. And I'll try to zoom in a little bit, maybe just to, so yeah, there you go. That's perfect. Usually everything in Baselane starts with having a property and address, and so I've, because it's demo account, we have many in here.
So I'm gonna use one that it lo is located in Houston. So here's an example of that and I'm gonna show you how to set up the rent collection. I'll talk about some of the features along the way as a reminder. So here we go. This is a two unit property. We're gonna set up a rent collection for one of the units.
And so I'm setting up unit A and I'll talk about my midterm experience and I'm sure you guys have your other, your own. So typically, my lease is a fixed lease. It's a couple of months usually. So let's say somebody's moving next month. I am going to maybe just end it in the, at the, by the end of the summer.
For the, for this example, we'll just use simple mat. So let's say the rent is $1,000. You can add other recurring fees that you have. Parking fee. Cleaning fee, right? Sometimes we clean on behalf of the folks that are living there and we charge extra. So you can do that. It's pretty easy to set it up here.
Most common thing is to, collect rent on the first and then add a late fee. Usually I charge $50. Some people charge a hundred. It depends on your setup. Some people charge a percentage. And what I do is I charge the late fee automatically five days after the due date. So let's say it's April 1st, by the midnight of April 5th, if they haven't paid this late fee gets assessed automatically as a part of the invoice.
And that's how this goes. So we have, now we have the rent amount added. I didn't add any recurring fees, like parking, what you could, and I'm saving this down as my late fee. So this step is pretty much done. So that's pretty much the first one. Second step here is, do you have anything else going on with them?
I usually have a security deposit, and so I'm sure others do as well. So I'll add that here. Often we want to collect the security deposit early, so even though they're moving in April, I might say I wanted to, by the 27th, just as an example, or maybe it's even the week before, sometimes they may, send you that through check.
This happens if you've already collected it, you can mark it as paid and that way it's in the record. If you're collecting last month rent upfront, you can turn that on and add the amount. Typically I don't do that for midterm rentals. And then if you're doing prorata, you can type in the amount here and then add the date in, into that as well.
And then there's any one-time fees that you have. Maybe there's a move in fee, an application fee, a pet fee. There's other things that you might wanna assess. Again, you can add the amount, the due date. Pretty simple. This is really an invoicing engine, so you can add all of these fees in here.
And that's pretty much it. We're done. Now what's happened is for the few months that I have this person moving in for four months, I've got the security deposit in moist. You can see it up at the top. And I've got the four payments that they're going to owe and the due dates for each of those payments.
So that's all here, and that looks good. I'm moving forward and this is where I'm selecting, okay, where is the money going? And this is where you can decide, okay, which bank account is this going into? Here you have the option to connect your existing bank account like Wells Fargo or Bank of America, or Chase.
I used to have Chase, for example. Or you can connect to a Baselane bank account. And if you're setting up this for the first time in Baselane, you will see an option to say, Hey, you can add a new account. And there's benefits to that. You're probably gonna see something like this where there's gonna be a information about how to collect through your external bank account, which is pretty straightforward.
The, you just click this button. And then there's details on Baselane banking, and we can do that in the q and a. If you guys wanna talk more about this, what are the benefits? How do you set this up? You can create an account, it takes a few minutes. And so if you're doing this option the only thing I'll note here is for the Baselane banking option, if you're depositing here, the renter, if they're paying through a CH, we don't charge them anything.
So if they're paying $2, normally. That's free. But here, if you're using a third party bank account, then there will be a $2 a CH fee each, for each payment. And the rent deposited is slower as well because it's a third party bank account. Like we don't have the same control as we do with our own. And so this is how you do the connection.
We use a very popular tool. If you use Venmo, you've used this before. I actually used to work at Plaid before. It's part of the FinTech ecosystem. It's bread and butter. And you can do two options here. You can securely connect through plaid and follow these screens. And if you add your number, it'll find your bank account or it'll ask you to select the bank account, a couple of options.
Eventually you get to your checking or savings account, and then you can connect it. That's the instant method. If you wanna do the manual, you basically have to add a few pieces of information. Like what type of account is it? Is it a checking or savings or, I'm not sure. Name, routing number, account number, and you want, wanna add a nickname to it, like Saads, business checking account or something like that.
When you do that, this is the, this is where you have to do those micro deposits. And you guys are, I'm sure you're all familiar with this, there'll be a verification process. It takes a few days to get this done, but you do not have to complete that a hundred percent to invite your tenant. We can keep moving.
So this is where you'll select it. The other thing we like to teach is that, you can route money for regular bank accounts sorry, regular rent versus security deposit into different accounts. Again, we can cover that in the Baselane banking q and a section. If that comes up. This is why we have this option here so you can bifurcate security deposit accounts into a non-operational account.
Just to finish this exercise so can you zoom in just a little bit more? Yeah, sure. On your screen. How's that? There you go. Yeah, that's better. So I'm gonna pick, one of my bank accounts at Baselane that I've set up. I have many, I'm gonna pick a separate one for security deposits. 'cause you usually wanna have security deposits set up in a separate account.
You don't want to commingle those funds 'cause that's a liability. It's not an asset because or income. And we do this and that's pretty much it. So we've gone through all the steps. We're ready to add our tenants and invite them. You can add a new tenant. Just name, email, phone number, pretty straightforward or I've already added one, so I'm gonna just, for the sake of demo, show it to you.
And then that's it. Now we review the details and I promise I'll address the questions. This is where I review everything. Is this the right property? Do I have all the right lease terms? Did I collect security deposit and it wasn't paid yet? Where am I sending the money? Which bank accounts is getting the funds that's been identified.
And then okay, who's the tenant? Is all that information correct? Before I invite them when we hit confirm, this is where you get this success screen now. Congrats. Red's been set up. What's happening right now is we're reaching out to your renter already with email and eventually text messages, letting them know, Hey, Saad has invited you to, pay for rent at this address in Rala in Houston.
And we want you to come and, create an account and start paying those invoices if you'd like. Which I like to do on WhatsApp or text message. I'll copy this link, and I can either email it or text it or send a WhatsApp message to my renter to have them, do it this way.
Sometimes they can't find the email, right? So it's just. Multiple ways to help them get onboarded. And that's pretty much it. So you'll do that and then you're done. And you're back to your dashboard and you'll be able to, this is the bigger dashboard, but in the rent collection area, you'll be able to then see like payment summary of what's going on.
You'll have all of your properties here, all your renters that are paying you the lease details and the rent amounts in this nice dashboard all here. And there is also tracking for renters what's the status of all these things. So I'll just pause here and I wanted to show you some other screens actually.
So maybe I'll switch over to the Canva. Maybe Katie, we can go back to that. Yeah, sure. I can go back to it. Yeah. And I wanna just share with you guys what's really great about this is you can start setting any of this up at any time. So you don't need to wait until you have a tenant. Yes, you can get the bones built, which is awesome because sometimes when you get that, I know oftentimes when I get a tenant, it's like.
When I have actually no time. So you can do a lot of this pre-work upfront. And this is something that you can use for, you can use at any point that you want. And real quick side, can you also compare, I'm hearing a lot of people in the chat have wonder if Baselane is still advantageous if they don't have Baselane smart, right?
So I want everybody to understand like the elevated perks of Baselane smart, but then also how Baselane itself is free for you guys to use if you use it on a basic level and kind of what that irks them all. Yeah. Yeah, absolutely. I think and we'll go through these emails and examples of the renter experience also at the end.
Overall, look, base Lane is designed to be like a modern platform to help you with your, everything related to your financials for your rental. The banking, the rent, payments, bookkeeping. So it's an all in one platform. So there's a lot of benefits to it. In general, when we talk about rent collection specifically.
If you're not using Baselane Smart it's still free for landlords to use and a convenient, all the automatic reminders and everything, it's all there. The things that you won't get, for example, is like the two day rent, which is available in Baselane Smart. That's not available in the free option.
And then, other than that, I can't really think of anything else. If you think about the broader industry and what options you guys have in terms of selecting tools, this will be, think of this as like the more modern, convenient tool. Pretty much no fees to you 'cause there's no landlord fees with renters.
If you're collecting it to Baselane banking and you still don't have Baselane smart, we still waive the $2 a CH fee. So if the renter's paying with a CH, it's free for them. If they're paying with card, debit or credit card, this is pretty common. All platforms charge a card, present piece card present fee, sorry, which in our case is 3.49%.
So that's very standard. Anywhere they go that's gonna be the same. And so it's at par there. But I think the benefit of all of this, like we were saying, is automated, professionalize it, make it easier and more convenient for your renters. We're gonna show you the renter portal as well. Those are like the big benefits if you want, things like the faster.
Two day payments. We're actually working on a one day payment right now. It's not ready. We're trying to figure out how to do that as well. And you want, the VIP customer support and you want the other things that we didn't really cover today in detail yet. Baselane banking and bookkeeping.
There's a lot more there inside of Baselane smart that we can send you information on. So yeah that's pretty much would be the comparison. I don't know if I answered all your questions on that one. I'm not sure who had that question. But you can simply go to like our pricing page on our website also.
It's all transparent, it's all laid out there in terms of the benefits. I wanted to finish going through this so you understand the renter experience. 'cause this is important. A lot of folks ask about this. So this is what you're seeing on the screen is basically the tenant portal. They have a very simple portal, one or two options.
They, all they have to do is email, phone number. You know that link you send them is the only way they can create an account. They cannot join otherwise. So you're inviting them and once you're in, they will already see the invoices that you've generated and the ones that are due, remember in my case it was a security deposit and the first rent they would, that would show up here, it's only just one payment that you're seeing on the screen.
And again, they can get reminders automatically in the platform and via email and text. You can see here, we're encouraging them to sign up for autopay and they can simply hit pay and then add their payment details to pay you the rent. So that's their a side note you can see on the bottom, depending on the renter profile.
This is interesting. We've also built like a credit builder. So if they're paying rent on time and they wanna opt in to build their credit, there's a small one-time fee and people use that as well. It's more of a long-term rental use case, in case you have other properties here, you can see.
Payment summary and all their history so they can always log in and know what's happened, what they've paid, what they haven't paid, what's on time, what's overdue, all of that's available for them. And I think we have a couple of emails just to show you an example. So here's an example of tenant and payment overdue.
This is actually a real one, so I just blocked off the the names. But you can see, I as a landlord am getting this email and Baselane is letting me know, Hey, it's March 2nd. And this renter is this rent payment is overdue. Okay? And so that's another, that's an example of the, what landlord gets and tenant gets the same thing.
Here's an example. When you receive the money, this is the happy time. It's yes, got the money, everything is good. And you can see here we've got payment received and the details and so on of the property are hidden here because of privacy. So you'll get these kind of emails as a landlord while your renters are also getting confirmation emails, reminders.
Nudges to, pay rent on time. So those are all here. So that's the renter experience. Very well reviewed and highly rated. And we pride ourselves on our support team as well. We try to take care of you and payments is a sensitive issue. We wanna make sure we get, do a good job, make sure you get the money where you need it, at their time you need it.
And that's what we do. And we can answer more questions. I would, I think now move into the live q and a as we have on the slides here. Yep. And there's a lot here, so I might need some help. There's so much you guys, so we're gonna try to rapid fire as many of these as we can. I think a lot of them are gonna go through some similar themes, but we're gonna answer these as, as quickly as we can, and then we'll point you to some resources.
Yeah. Yeah, go ahead. So I've got one, I've seen this a few times. There's a question about deposits and refund and okay. It depends, right? So if you're using Baselane banking. We teach you to have a security deposit account that's separate and it's it's for security deposits only, and you can create it within a couple of minutes.
And yes, if the, if they're moving out and you need to pay them, then you just send an a CH transfer to the recipient, which would be a renter inside of Baselane banking. And that's one way to handle it. If you're perfect taking that deposit and going to your some other bank, then you have to pay from that bank.
So that's out of our control. We do not control that part. All right, let me tackle some of these key check questions really quick. Carla says, if we already use Key check, will we automatically be ported over to Base Lane? I'm in the process of signing a new lease with a tenant as we speak. I'm not gonna automatically port you over Carla 'cause that would be so rude.
It'd be so rude of me. This is your decision to make. That being said, it is gonna be less expensive for your tenant and it's gonna be a faster payout for you. So you would just go into your dashboard and you can sign up and then to Adrian's question, key check is not going away. You're gonna notice that we're starting to integrate a lot of the tools from Key Check into Furnished Finder so they're easier for you to get to and to use.
But we're not gonna force you to use Base Lane. But we will tell you it's. Faster and cheaper. So I would encourage you to and those are the primary differences, right? And we got so much feedback from our partnership with Stripe that it was expensive and really slow to get your money.
And those are big deals when you're a landlord. So that was a core pillar with this partnership. And one more thing really quick. I saw someone mention that this sounds more for people who have multiple properties. I want to really emphasize the simplicity of this platform. You guys, you can get on and get started.
What I love about Baselane is there's optionality. Okay? You can have a bank lane, a bank account with Baselane, but you don't have to, you can just use them to process your payments, right? You can use the automatic accounting, but you don't have to. What's really nice though, is it puts you in a position where you can accept these online rental payments to protect yourself and to the benefit of your tenants.
Even with one property, it's gonna really help your processes and help you. Just become as, as efficient as you can. You still don't wanna be messing with Zelle and that Yeah I can, I'd love to add to this one. I guys, yeah. Just for context guys I go to probably six to 10 conferences a year for real estate across the country.
So many people that are in that situation. A couple of properties, one property, et cetera. It's just I think the main thing is how do you value your time? That's the question I asked back to you. So basically, for me, the time efficiency is the main focus and saving time. So if that's important to you, and I'll give you an ex, I'll tell you a story.
I, I had this lady, she came up on stage and I was like, what are you using Zelle? Okay. How? How do you do it? Oh, I'm doing it this way as young kids. I'm busy, this and that. See spending like five to 10 hours a month on the financial stuff because it starts with that one thing where you're like, oh, I'll just collect through Zelle.
But then you have to like account for your books so that most likely, a lot of people don't do their books when I talk to them. So a lot of folks are probably behind, they just wait till the end of the year. So you don't know actually how much money you're making. That's another problem. And it just compounds over time.
So I would think about it like that. And also the professionalism, renters. You are probably getting millennials that are, white collar folks that are traveling and things like that. That's what I get. And sometimes it's recent grads diff different kinds of folks and they want this experience, right?
And so it's a, it's also for them as well. There. Let's keep going. I think there's a lot more questions. All right. Let's talk about as a key check user, how do I make the switch and how would that impact my tenant and current leasing agreement? Her rent is due on the 12th. Will that remain the same of switching?
Switching in the middle of the lease? All you would need to do is go in and turn off those automatic payments or that you have set up with Stripe and set them up with base lane and let your tenant know. Yeah. So really no big deal. I want you to think about. I was using this metaphor with someone the other day.
I want you to think about, it's like switching a shampoo. You don't have to finish your bottle before you start the next one. Just go ahead and stop using it. Okay. Whenever you want. That I was just talking, that's my ridiculous metaphor for the day. That's a good one. Yeah. It, we have an onboarding guide that we've provided.
We can send you that Leticia, there's gonna be a recording of this. It takes five minutes or less as you saw to switch over. I would send that link to your renter to start changing the way they pay. It'll take them like a minute to set it up on their phone and it'll be pretty convenient for you.
Yeah. Adrian, it seems like you're understanding the perks of Base Lane. Smart. And if you create a bank account with Base Lane, but then not the advantage over key check for a landlord. I wanna make sure everybody understands this. Even if you are not using Base Lane Smart, or you're like, I'm gonna take the year trial and then I don't need it anymore, it is still faster and less expensive for your tenants.
Yes. Which is huge. You guys like a fee for your tenants. Oftentimes if you're paying by credit card, you do expect it, right? It's expected. However, it's significantly less expensive. Okay. Are there limitations or conditions to receive the rent in two days? Do you wanna take that one?
Yeah. So this is this is part of the Baselane Smart offering. So if you're in Baselane Smart, that's the main. Main requirement, basically to get the two day rent. So that's pretty much it, Lorraine. And yeah, we're a transparent company. We're building a lot more. We're also like, like I said, working on how to figure out how to do one day rent.
So that's a hard problem to solve, but that's another one that might be out this later this year. All right. Crystal would like to know if I can take this Oh, go ahead. Yeah. Yeah, just so you guys know, there are, I'm not gonna do a whole tax thing. I am a former CPA, and I used to work in finance, but every platform that's taking payments like rent payments, including Venmo, has to do this.
So it's not just about Baselane. We do report above a certain dollar amount and a certain number of transactions. I will have to double check exactly how much it is, but based on, what our team was telling me, I think for this year. Again, this is in 2026. We're in March. Just for the video, if you are collecting $20,000 of rent plus 200 transactions, that, if that is the rule, then we have to report it to the IRS.
It doesn't matter if you're on Venmo or Key Check or Baselane or somewhere else. That's just how the, how it's going to be. So that's just a tax requirement. And what about 10 90 eights? I've heard that as well. Can you, can somebody explain what if they're issued so that's a mortgage interest statement though.
That's not a I, okay. Ten nine, ten ninety is when you get what? You get your interest and principal split on mortgages. Oh, do 10 99. Lemme see if Candace and Larissa can answer that one for you. I, we do issue. 10 99. But I just wanna make sure you we're talking about the same thing. That's the, are you talking about 10 99 K?
So let's just clarify that we keep moving, but yeah, that is what, okay. That is what we just talked about is the 10 99 K. Yep. So if you report it there to the Yeah. You're also getting that form as you're gonna get the form. Yes. Yes. From us. Yep. Okay. This one feels like a really great one to wrap up with from Nancy.
If we're gonna suggest this with a new tenant before they pay first month's rent, what are the pluses and advantages to them? Maybe much better with landlords, with multiple properties? Nancy, I love this because you're putting yourselves in the shoes of a tenant. How I do it as a landlord is I say, this is how I accept payments.
And I started accepting payments online when I had one property because. Venmo and Zelle are not secure. They're just they're made for is they're made for paying someone back, right? If they picked something up at the grocery store for you, they're not made for professional transactions.
And I wanted to be seen as a professional, even when I had one property, and I just say, this is how I accept payments. It, it's fully online and secure and it gives you the option if you wanna pay by a CH or if you'd prefer to pay by credit card. Really what you're giving your tenants is optionality, right?
So they can pay in the way that they prefer to pay. And then you can tell them, you'll get automatic rent reminders. You can log in, you can see the portal, you can see when your, when rent is due and upcoming. So you are giving them that advantage as they'll, as well, Lorraine, I. See your request for a visual of Baselane via Baselane Smart.
And I want you to know that it's on my list as inspiration from this webinar. I think that's great. You guys, I, I hope this Yeah, go ahead. I was gonna just say on that one, I do the same thing in mo all my leases, I actually specify the payment method. Yeah. And it's just easier to do it that way.
'cause look, you're gonna do three to four or five leases a year just on that one unit. And I don't wanna be, and Zelle here, Venmo there, cash app there each time it's it's very confusing and time consuming. Yep. You guys, I hope that this has been incredibly helpful. I think something like this can easily be very intimidating and it's really easy to think, I don't need this unless I have multiple properties.
And I want you to think about how you're spending your time and how you're managing all of these transactions. It can be a very simple shift and it can really make your life a lot easier. And that's our goal. Our goal here at Furnished Finder is to match you up with monthly rental tenants in the most efficient way while giving you the most control possible.
And that's why we've partnered with Base Lane here. So I would encourage you to check it out. Like I said, it's totally free for you. So hop on click on that online rental payments, you'll learn more. And we're gonna keep putting out a lot more education about this. 'cause all of your questions were incredibly valid and and things that we want you to make sure that you have really good answers to and things that come up more.
So this was recorded. It will be sent to your email. If you don't see it, please look in your spam. Especially if you have a Gmail or anything like that. They love to think things are spam that are not. It will also be on our YouTube by tomorrow. And then just keep up on our blog and everything like that.
And if you have questions, please reach out. We would love to answer those for you and help you to become the most efficiently and learn again, even if you have one property. So you could spend more time outside on walks and hikes and hanging out with your kids or your grandkids than trying to track something down on Zelle.