Thousands of tech forward landlords hold security deposits in a free Baselane banking account.
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Open a dedicated security deposit bank account with Baselane to manage funds securely and compliantly. Each security deposit bank account is fully separated from operating money, helping landlords stay organized and meet legal requirements.
With Baselane, you can issue both physical and virtual debit cards linked to your security deposit accounts, complete with spend controls and automated Schedule E categorization. This makes it easy to track, tag, and reconcile every transaction.
For landlords who need to stay compliant in states requiring interest, Baselane offers an interest bearing account security deposit option, ensuring tenants benefit while you maintain transparency. By using a dedicated landlord security deposit account, you protect tenant funds and streamline bookkeeping in one simple platform.
With Baselane, collecting and refunding deposits is simple and compliant. Landlords can accept payments by ACH, wire, or check into a dedicated tenant security deposit account, ensuring funds are separated and transparent.
Deposits are held in a security deposit interest bearing account or security deposit savings account, so landlords stay compliant while tenants may earn interest. Using an account to hold security deposit avoids commingling funds and reduces legal risk.
When it’s time to return funds, refunds are processed quickly from the tenant security deposit account, with clear records of deductions for cleaning, damages, or unpaid utilities. Baselane also supports compliance with state rules on security deposit interest rate and refund timelines.
Whether managing a lease security deposit, rental deposit account, or landlord security deposit, Baselane streamlines the process from start to finish.
Make it easy to manage rental security deposit accounts with Baselane's Banking accounts.
