As we close out 2023, we want to express our sincere gratitude for being a valued customer of Baselane. Thank you for being part of our journey!
With your unwavering support, we have been able to embark on our ambitious vision, which is only just the beginning. We firmly believe landlords and real estate investors should have access to modern, powerful, yet easy-to-use financial services to empower them to successfully build, grow, and manage their real estate investments.
2023 In Review
2023 has been a year of tremendous growth for Baselane. Our customer base and transaction volume on the platform both grew by 1,000%!
We have equally ambitious goals for 2024, a year that will be heavily focused on product development. A sneak peek of our 2024 road map is further below.
In 2023, we had many product updates and improvements, including:
Banking:
- Refreshed Baselane Banking interface designed for seamless mobile use and higher deposit limits.
- Our new bank partner, Thread Bank, enables FDIC insurance for funds on deposit up to a maximum of $2.5M*, and enables many new products to launch in early 2024.
Rent Collection:
- Ability to edit active rent collection, allowing seamless adjustments to rent collection terms.
- An improved rent collection summary provides a clear snapshot of your payments, intuitively categorized for quick insights.
- Accelerated onboarding flow for tenants, ensuring a swift and hassle-free account activation process.
- Streamlined rent payment processing to proactively identify potential payment issues.
Bookkeeping, Analytics & Reporting:
- Tax package simplification with a one-click download for a consolidated property report.
- Expanded transaction categories, we added 120+ sub-categories for more precise transaction categorization, ensuring accuracy in financial tracking.
- Enhanced connectivity for external accounts via Plaid, ensuring real-time transaction and balance updates.
Other features:
- Full functionality on mobile devices for rent collection and banking.
- Revamped referral program, making it even more rewarding with a $100 incentive for both you and your referred friend upon success.
- Lease agreements in partnership with Rocket Lawyer to effortlessly create & e-sign lease documents.
- Rental property loans In partnership with Simplist, we search 50,000+ options from top lenders to match you with the best ones.
What’s In the Works for 2024
2024 will be focused on deepening our product offerings for our core Banking, Rent Collection, Bookkeeping, Analytics, and Reporting, thanks to the countless product feature requests and feedback you have provided. We will also start building tenant and property management tools. Here’s a sneak peek of a few features on our 2024 product roadmap.
Banking:
- Improve transfer & payment functionality: from new payment methods such as checkbooks, eChecks, Bill Pay to same-day ACH, recurring payment rules, and the ability to save payment recipients.
- New self-serve functionality to replace cards, change card pins, report lost/stolen cards, order extra physical debit cards, and more.
Rent collection:
- Streamlined rent collection renewal process.
- Advanced late fee structures, weekly/bi-weekly rent collection, multiple tenant per rent collection, and much more.
Bookkeeping, analytics & reporting:
- Improved reporting and analytics user interface.
- Transaction auto-categorization and custom categories.
- New advanced reports, such as enhanced tax reporting, rent rolls, and tenant ledgers.
Other features:
- Ability to invite and collaborate with other users while setting user permissions.
And many more improvements:
Thank you for providing product feedback and requests; they are essential to inform our product roadmap. You can leave us feedback or product requests here.
Happy New Year
From the team at Baselane, we wish you the best for 2024.
Best regards,
Mathias, Thorben, Jad
Co-Founders, Baselane
