Hemlane vs. SimplifyEm: 4 Major Differences To Consider

Every successful landlord knows that having the right property management software is key to running and growing their business. With that said, there are many property management software tools out there, but are all of them built equally? Through these series of articles, we are here to help you decide on which software will fit your needs for your rental properties. This week, we will focus on the benefits of using Hemlane vs. SimplifyEm and give you our thoughts on which software is the best suited to improve your bottom line.

Compare for Yourself

The Hidden Cost of Transactions

With every rental property, you want to make sure you are receiving payments quickly while minimizing any risks of unpaid rent or payments being canceled last minute by the tenant. This is why both Hemlane and SimplifyEm process payments through ACH and allow for automatic payments to be scheduled. Additionally, these transactions typically clear within 2-3 business days!

But what differentiates Hemlane from SimplifyEm?

There are two glaring differences we saw when comparing the two which we believe you should know before making your decision: the cost of transactions and limitation of automations.

Through SimplifyEm, any payment being processed would incur a transaction fee. These fees are from $1-$3 per transaction and are typically paid for by the tenants. This would be additional costs your tenants would have on top of their rent and other monthly payments.

In addition to these additional costs, if one of your tenants had attempted to submit a payment and the payments did not go through, you would then be required to collect rent from them then manually and record it on their platform yourself.

Although this may seem minor, these transaction fees and additional tasks can add up. What happens when you have over twenty rental properties and didn't realize a few of your tenants had a failed payment? What should have been an easy payment from the tenant can now take hours to resolve as you reach out to your tenants to collect rent.

Skip this step entirely with Hemlane and allow your tenants to resubmit payments again through the system! When there are insufficient funds in your tenants account, Hemlane will send you and your tenants a failed payment notification and allow your tenants to resubmit their rent payments. Additionally, if the rent isn't paid on time, Hemlane will not only request the late fees that you have set up to trigger automatically, but also require these late fees to be paid before the rent.

The winner of this round would have to go to Hemlane!

Managing Your Property at a Flat Fee

When selecting your property management software, you want to ensure you are getting the most out of the platform without it affecting your bottom line. This is why Hemlane and SimplifyEm can provide property managers, like you, with an affordable system for your rental properties.

When breaking down the cost for SimplifyEm, there are many different add-ons which can alter the price. These additional costs can vary depending on what your rental property needs are. For example, when your property is vacant, they allow you to list your vacant property for an additional $3 per listing. Incoming applications would start at $3 per application. Automations such as rent notices, late fees, and to process transactions would also have their own associated fees. These additional costs can add up and you can begin to see the price increase depending on what your rentals need.

Partner with Hemlane as your property management software, and start managing multiple properties while building and adding your team to the platform. Hemlane simplifies this for you and provides you with the tools you need to advertise your rentals, organize your team, manage maintenance and repair requests and create payment automations with every account.

Getting set up to process payments online doesn’t have to cost you a pretty penny, or a hundred pennies in SimplifyEm’s case!

Get More Value with Repair Coordination

While some property managers like administrative tasks and making maintenance checklists, we know that others would much rather use their time growing their business or spending more time on their hobbies. Both platforms provide you with the ability to track and manage repairs and fixes, but only one opens up your calendar to focus on things aside from your tenant’s leaky faucet.

If you guessed the platform in question was Hemlane, then you deserve a prize - try Hemlane for 14 days free of charge!

If you’re looking for a way step back from these 4 am phone calls from tenants, Hemlane is the solution for you! Delegate repairs to our team of repair coordinators and allow our team to troubleshoot, schedule repairs, and even submit payments on your behalf!

If you’re looking for a way step back from these 4 am phone calls from tenants, Hemlane is the solution for you! Delegate repairs to our team of repair coordinators and allow our team to troubleshoot, schedule repairs, and even submit payments on your behalf!

Sit back knowing that our 5-star team will be working to ensure your property is being taken care of!

As repairs come in, our coordinators will first troubleshoot any requests with your tenants to see if a service call is needed. By troubleshooting first, we have seen 7% of requests being closed before a vendor is contacted, saving you the service call charges!

If servicing is needed, our repair coordinators connect with your service professionals or with our network of vetted service professionals to schedule appointments with your tenants. As always, you will be notified with any and all updates on the repairs through the platform and email. Our coordinators will work with you to help resolve repairs while your tenant is living there.

Organize Your Portfolio with Ease

When the end of the year comes, it is important to make sure your paperwork aligns for tax season. This is why both platforms allow you to generate income statements and other reports needed for your business. Both Hemlane and SimplifyEm provide property managers who manage their own rentals a great way to quickly generate these reports based on all the information you’ve added over the course of the year.

But as you grow your property management business and start bringing on clients, it is only natural that the platform you are on should be able to accommodate for this growth too!

We know how important it is to be able to provide reports for clients in a timely manner while separating your information from theirs. This is why Hemlane has introduced a portfolio filter for our users! By grouping properties into different portfolios, you can easily switch between your properties and your client’s properties. Generate income statements and cash flow statements for each business and give your clients a dashboard where they can easily obtain any information about their rentals.

For this category, I would have to give it to Hemlane as the clear winner! With a growing rental business, documentation and organization can get overwhelming, but with the ability to separate and group properties within a business together, you will save hours trying to sort through all the transactions that occurred in a year!

Which Platform Outshines the Other?

Although both platforms allow you to automate and maintain an organized record of your rentals, Hemlane would take the lead in this comparison!

Hemlane offers an easy to use platform for both tenants and landlords without adding charges for listing your rentals or attempting to process transactions. The platform provides the basic features you would need to manage your rental with every subscription and allows you to upgrade when you’re ready to focus on growing your business. Using our in-house 24/7 repair coordination team, and a vast network of service professionals and agents, you can spend less time managing and more time on other aspects of life.

But don’t take our word for it, you can try Hemlane for free yourself, and see how much you can save!