I have some small single families and condos out of state in different states. I am looking for a property management software that helps out-of-state landlords to manage a small property without having to hire a property manager because it is hard to find a property manager that is interested in managing just a small condo.
I have come across "Hemlane" which is designed for Landlords who are managing their own properties without having to ever have direct contact with tenants. The software helps you find professionals for any repairs and maintenance issues and coordinate for you. "TenantCloud" seems to do something similar. Does anyone has any experience to share regarding property management software that can help you manage small property without hiring a property manager person but still get viewing/repairs done? Thank you.
I've heard good things about Cozy, although I don't use it myself.
Just a word of caution from somebody who has 30+ out of state properties - I would strongly advice against self-managing. Sure, it may work for 1-2 properties in A+ areas, but if your properties are more management intensive, it will be difficult.
Who will show prospective tenants the property? Who will be on-suite to coordinate/inspect maintenance/repairs done? Who will do walk-through inspections?
Managing real estate requires on-suite presence, which can't really be replaced by a software application. My guess is you'll end up needing a realtor, friend or family member to do some of this works anyway, that's why I would recommend a property manager.
I've never heard of property managers refusing to manage 1 property. You just need to keep looking.
All my managers use propertyware and that’s what I like best.
If I was local and self managing I’d probably use cozy
Thank you @Caleb Heimsoth @Anton Ivanov very much for your suggestions. I"ll check them out. Hemlane was meant to be built for all problems: "Who will show prospective tenants the property? Who will be on-site to coordinate/inspect maintenance/repairs done? Who will do walk-through inspections?" I'll check it out and let you guys know!
@Connie Chan just curious, are you using hemlane and if so do you like it?
I'm a remote investor and have been self-managing 8 properties using Hemlane for a couple of months. Overall I"m pretty happy with the platform/service. The gotcha, at least in my case, has been the local presence component. Hemlane has been fantastic for the properties that have stable tenants in them. I have two vacancies I've been working on any they 1) do not deal with properties that do not have a tenant in them and 2) were unable to locate local support (a Realtor) to work with me. I ended up traveling to the properties myself, meeting with some local contractors who can get the turnovers done and I don't yet have a solid plan on how to get them leased out other than to pay a contractor to do showings. Once they're leased I'll reactivate them on Hemlane so they can handle maintenance.
NOTE: I have no idea how you'd use Hemlane and not have direct contact with the tenants. It's DIY other than maintenance. I suppose you could find a property manager than would agree to use Hemlane, but that seems doubtful.
I actually switched to Hemlane from TenantCloud because TC doesn't provide any assistance with the maintenance request itself. You can add your own "Service Pros" but you do all the work identifying the contractor, communicating between the contractor and the tenant (or connecting the two), and in general just dealing with the whole process yourself. TC is just the platform to enable you to do it all yourself, and if that's what you're looking for it's a great deal. Hemlane provides an actual service (assuming "Smart" plan is used) where they receive the request, work with the tenant to figure out what's going on and try some basic troubleshooting and then if needed call in the professionals and make sure everything is done to the tenant/owners satisfaction (pictures, invoices, etc.). Hemlane does this 24/7 for emergency requests (yes, I've had one in the past few months and Hemlane's response was awesome - had someone onsite in a couple of hours).
As a 100% DIY platform TC is the better choice as it's priced far better and seems a bit more mature and full-featured. If you're like me and want to (mostly) outsource maintenance then Hemlane is a fantastic service but I think you need to have more than just a few properties to average out the high $34/mo. base price for the platform.
If anyone knows of a better platform/service to use that handles maintenance for you I'd love to hear about it, but Hemlane is the only provider with this feature as far as I can tell.