Hemlane Review: Pros, Cons, Features and Pricing
Hemlane is an accounting software that helps landlords manage rental finances. It's best for real estate investors and small property management companies seeking efficient financial oversight. Hemlane offers time-saving automation, improved financial accuracy, and enhanced cash flow management.
Hemlane addresses common pain points like manual transaction recording and financial errors, ideal for property management teams. In this article, I'll cover Hemlane's features, pros and cons, use cases, and pricing to help you decide if it aligns with your property management needs and goals.
Hemlane Evaluation Summary
- From $30/month
- 14-day free trial
Why Trust Our Software Reviews
Hemlane Overview
In my opinion, Hemlane is a solid choice for property management professionals looking for reliable property management software. The platform is easy to use for those who aren’t tech-savvy, with decent customer support. While its core features are robust, standout features like automated rent tracking and maintenance requests add significant value. Hemlane software is well-suited for small to medium-sized property management firms that prioritize efficient operations and strong support. Compared to other accounting software, Hemlane offers competitive pricing and a user-friendly interface, though it lacks advanced financial reporting tools found in more specialized platforms. If you're seeking a straightforward solution for property management and financial oversight, Hemlane should be on your shortlist.
pros
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Customer support is responsive and helpful for your team.
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User-friendly interface with easy navigation.
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You can easily automate rent tracking and maintenance requests.
cons
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No mobile app option.
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Some users find the customization options lacking for their needs.
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The onboarding process could be smoother for your team.
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Advanced financial reporting tools are limited for your work.
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How We Test & Score Tools
We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.
Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.
Core Functionality (25% of final scoring)
The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.
Standout Features (25% of final scoring)
Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.
We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.
Ease of Use (10% of final scoring)
We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.
Onboarding (10% of final scoring)
We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.
Customer Support (10% of final scoring)
We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.
Customer Reviews (10% of final scoring)
Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.
Value for Money (10% of final scoring)
Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.
Core Features
Automated Rent Tracking: Hemlane automatically tracks rent payments for your properties, reducing manual errors and saving you time. You can easily track late fees and more.
Maintenance Request Management: Your tenants can submit maintenance requests online, and you can track and manage these tasks efficiently with real-time notifications. This feature reduces communication gaps and speeds up issue resolution.
Tenant Screening: Hemlane helps you screen prospective tenants with credit and background checks, ensuring you choose reliable renters. This minimizes the risk of tenant-related issues, including eviction scenarios.
Lease Management: You can use Hemlane to manage lease agreements and renewals in one place, keeping your records organized and accessible. This helps you stay on top of important lease dates.
Expense Tracking: Hemlane lets you track property management expenses, helping you maintain accurate financial records. This feature aids in budget management and financial planning.
Online Payments: Your tenants can pay rent online through Hemlane via ACH or credit card, offering convenience and reducing late payments. This payment processing feature supports secure and timely transactions to your bank account.
Ease of Use
Hemlane is very user-friendly, making it easy for your team to navigate without much training. Its clean interface allows you to quickly access all available features. Users often praise its intuitive design, which simplifies property management tasks. Compared to other accounting software, Hemlane stands out for its straightforward setup and minimal learning curve. If you value ease of use, Hemlane will likely meet your expectations.
Integrations
Hemlane integrates with Stripe, Zillow Rental Manager, and TransUnion ShareAble. Hemlane does not provide an API or connect with third-party integration tools.
Hemlane Specs
- 2-Factor Authentication
- Accounts Payable
- Accounts Receivable
- API
- Balance Sheet
- Billing/Invoicing
- BitCoin
- Budgeting
- Calendar Management
- Contact Management
- CRM Integration
- Customer Management
- Dashboard
- Data Export
- Data Import
- Data Visualization
- Expense Tracking
- External Integrations
- Forecasting
- General Account Ledger
- Inventory Tracking
- Multi-Currency
- Multi-User
- Notifications
- P&L
- PayPal
- Payroll
- SAP Integration
- Stripe
- Supplier Management
- Tax Management
