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Ashish Wa
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Online property management

Ashish Wa
Posted Dec 18 2023, 09:32

Hello folks

I'll be closing on my first rental. The property is about 50 miles away so not possible to self manage. I am thinking if there is any online property management that does showings and responds to any maintainence requests? It's a new construction so hopefully nothing major but you never know. Cashflow is super tight so can't afford a local PM. Is hemlane or Mynd good?

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Jonah Hartsburg
  • Investor
  • Marion, IN
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Jonah Hartsburg
  • Investor
  • Marion, IN
Replied Dec 18 2023, 10:31

We have collaborated with Hemlane to do a lease-up for an OOS investor. Through that experience, we didn't get the full picture of their services outside of leasing, but we were able to get a general idea. I appreciated that their pricing packages were customizable to what you need as a combination of their PM software, maintenance coordination, leasing services, and/or delinquency assistance. For an OOS investor managing with just their services, I imagine you'd need their full package which didn't seem significantly cheaper than hiring a local PM. I thought the main advantage would be the ability to micro-manage your portfolio, customizing your vendor list according to each property and coordinating with a dedicated leasing agent.

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Ashish Wa
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Ashish Wa
Replied Dec 18 2023, 10:34
Quote from @Jonah Hartsburg:

We have collaborated with Hemlane to do a lease-up for an OOS investor. Through that experience, we didn't get the full picture of their services outside of leasing, but we were able to get a general idea. I appreciated that their pricing packages were customizable to what you need as a combination of their PM software, maintenance coordination, leasing services, and/or delinquency assistance. For an OOS investor managing with just their services, I imagine you'd need their full package which didn't seem significantly cheaper than hiring a local PM. I thought the main advantage would be the ability to micro-manage your portfolio, customizing your vendor list according to each property and coordinating with a dedicated leasing agent.


 Thank you. Local PM also charges a first/ half months rent which I beleive Hemlane do not charge ? 

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User Stats

130
Posts
66
Votes
Jonah Hartsburg
  • Investor
  • Marion, IN
66
Votes |
130
Posts
Jonah Hartsburg
  • Investor
  • Marion, IN
Replied Dec 18 2023, 10:40
Quote from @Ashish Wa:
Quote from @Jonah Hartsburg:

We have collaborated with Hemlane to do a lease-up for an OOS investor. Through that experience, we didn't get the full picture of their services outside of leasing, but we were able to get a general idea. I appreciated that their pricing packages were customizable to what you need as a combination of their PM software, maintenance coordination, leasing services, and/or delinquency assistance. For an OOS investor managing with just their services, I imagine you'd need their full package which didn't seem significantly cheaper than hiring a local PM. I thought the main advantage would be the ability to micro-manage your portfolio, customizing your vendor list according to each property and coordinating with a dedicated leasing agent.


 Thank you. Local PM also charges a first/ half months rent which I beleive Hemlane do not charge ? 


I can see where it initially looks like that, but the fee is negotiated directly with the partnering leasing agent separate from Hemlane's fee. Hemlane's complete package includes the "connection" with the leasing agent. 

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Ran Fridman
  • Property Manager
  • Chicago
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59
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Ran Fridman
  • Property Manager
  • Chicago
Replied Dec 19 2023, 12:58

Hello, my friend, hemlane is good, but you could also try avail, it has a lot of features as well and, as for me, it's a simpler interface. Good luck!