When it comes to managing rental properties, having the right tools can make all the difference. Two popular software options in the market are Buildium and Hemlane. In this comprehensive guide, we will compare and contrast the features and pricing of these two platforms to help you decide which one is the best fit for your needs.
Easy-to-use accounting functions with simple entry
Customizable listings for rental properties
Allows for mass emails and bulk text messages
Electronic payment features for quick payments
Offers a variety of reports for easy data analysis
14-day free trial available
An experienced team passionate about changing rental management
Three pricing options + one-month free trial
The near-perfect customer retention rate in the US
Comparison of Buildium vs Hemlane
Buildium and Hemlane are both cloud-based software options that offer features for rental property management. Buildium is designed for residential property management, while Hemlane is geared toward both residential and commercial properties. In terms of ease of use, Buildium has a steeper learning curve but offers more advanced features, while Hemlane is more user-friendly and intuitive.
Buildium Key Features:
Solutions for managing rent, maintenance, accounting, and leasing operations.
Buildium helps streamline operations, improve efficiency, and reduce costs.
The platform is cloud-based, which allows for easy access to data from anywhere.
Customer support is available 24/7 through phone, email, or live chat.
Buildium is an all-in-one property management software that helps property managers and landlords streamline their tasks, from rent collection to lease tracking and maintenance requests. With its intuitive interface and set of powerful features, Buildium simplifies property management, making it an invaluable tool for real estate professionals. This review article delves deeper into Buildium and how it can help you efficiently manage your properties, whether you have a single property or a large portfolio.
Hemlane Key Features:
It offers tools for leasing, maintenance, rent collection, and accounting.
Hemlane automates routine tasks and simplifies rental management.
It has a user-friendly interface and offers online payments for tenants.
Hemlane integrates with popular property listing websites like Zillow and Trulia.
Hemlane is a property management software that simplifies the rental lifecycle management experience, utilizing technology to streamline processes. Their software includes features such as property advertisement, communication automation, credit reports, contract storage, tenant screening, lease management, online rent and financials, and property maintenance.
Buildium vs Hemlane: Pricing Comparison
Buildium offers three pricing plans, ranging from $52 to $160 per month, with additional fees for some features. Hemlane has a simpler pricing structure, with plans starting at $36 per month, with additional fees for some features. Both platforms offer a free trial to test out their features before committing to a subscription.
|Resident & Board Member Communications||Included||Included||Included|
|Free Marketing Website||Yes (available for purchase)||Yes (available for purchase)||Yes (available for purchase)|
|Property Inspections||Starting at $40/month||Tenant Screening||Tenant Screening & Enhanced Tenant Screening|
|eSignatures||$5 per signature||Unlimited||Unlimited|
|Online Payments||Incoming EFT: $1.00||Outgoing EFT: $0.50 per transaction|
|Bank Account Set Up Fees||$99 per bank account||5 free bank accounts; $99 per bank account||5 free bank accounts; $99 per bank account|
|Standard Reports||Included||Performance Analytics and Insights||Business Analytics and Insights|
|Support||Ticket Support||Live Phone Support||Priority Support (available for purchase)|
|Onboarding||Additional fees apply||Additional fees apply||Dedicated Growth Consultant for New Client Leads|
|Advertising||to over 30 rental listing websites.||to over 30 rental listing websites.||to over 30 rental listing websites.|
|Application & Tenant Screening||Lead and applicant tracking, nationwide credit, criminal, and eviction report.||Lead and applicant tracking, nationwide credit, criminal, and eviction report.||Lead and applicant tracking, nationwide credit, criminal, and eviction report.|
|Lease Tracking & Management||Document storage, lease renewal reminders, and tenant communication. E-signature coming soon!||State-Specific Leases, online leases, amendments, notices, other legal documents, e-signature, and discounted legal advice.||All Basic Features, all Essential Features, full repair coordination, repair price thresholds and approvals, invoicing and payment to vendors, and no markups.|
|Financials & Online Rent||Online payments, automatic late fees, and income and expense tracking.||Online payments, automatic late fees, and income and expense tracking.||Online payments, automatic late fees, and income and expense tracking.|
|Maintenance & Repair||Repair request submission, tracking, and assignment.||Diagnose and troubleshoot requests, work order management with your service professionals, scheduling with tenants, 24/7 emergency support, no markups, full visibility, and control at all times.||Network of Service Pros, list of vendors for handiwork, electrical, plumbing, appliance repair, HVAC – heating & cooling, and more.|
|Leasing||Connection to a licensed agent for turnover coordination, property showings, inspections, and more. Their leasing fee is separate.|
|Try for Free||Yes||Yes||Yes|
Buildium and Hemlane: Pros and cons
Buildium’s advanced features and flexibility make it a good choice for property managers with complex needs, but its steeper learning curve may be a downside for some users. Hemlane’s ease of use and affordability make it a great option for smaller property management needs, but its lack of advanced features may limit its usefulness for larger properties.
Buildium Pros and Cons:
- Provides several tools to help property managers streamline their daily workflow and increase operational efficiency
- Allows you to send mass emails to all of your recipients, and bulk text messages to 10 recipients at a time.
- Buildium’s electronic payments features allow you to send and receive payments quickly
- Allows you to run a variety of reports, so you can quickly view and analyze key data
- Offers 14-days free trial
- Additional fees charged for onboarding support
Hemlane Pros and Cons:
- Hemlane’s property management software simplifies the rental management process with its range of features.
- Their experienced team is passionate about changing the way rentals are managed.
- Hemlane offers three pricing options and a one-month free trial.
- They have a near-perfect retention rate from their customers across the United States.
- Some users have reported issues with the platform’s customer support.
Buildium and Hemlane: Conclusion
When it comes to choosing rental property management software, there is no one-size-fits-all solution. Buildium and Hemlane both offer valuable features and benefits, but the right choice ultimately depends on your individual needs and preferences. By comparing and contrasting these two options, you can make an informed decision that will help streamline your property management tasks and improve your overall efficiency.
Buildium vs Hemlane: FAQs
What is property management software and how does it work?
Property management software is a digital tool designed to help landlords and property managers streamline their business operations, such as managing tenants, tracking rent payments, handling maintenance requests, and generating financial reports. The software typically operates through a web-based platform that allows users to access their data and manage their properties from anywhere with an internet connection.
What are the key differences between Buildium and Hemlane?
Buildium and Hemlane are two popular property management software options with some key differences. Buildium is a more comprehensive software that offers a wide range of features, such as online rent payments, tenant screening, and customizable lease agreements. Hemlane, on the other hand, is a more streamlined and affordable option that focuses primarily on rental property marketing and tenant screening.
What property management features are available with Buildium and Hemlane?
Buildium offers a wide range of features, including tenant screening, online rent payments, lease management, maintenance tracking, and financial reporting. Hemlane, on the other hand, primarily focuses on rental property marketing, tenant screening, and rent collection.
How do the pricing plans compare between Buildium and Hemlane?
Buildium’s pricing plans are generally higher than Hemlane’s, but Buildium also offers more comprehensive features. Hemlane’s pricing plans are more affordable and are focused on providing basic property management tools at a lower cost.
Which software Buildium or Hemlane is best for accounting and financial management?
Buildium is the better option for accounting and financial management because of its more comprehensive financial reporting features. It allows for detailed tracking of income and expenses, customizable financial reports, and bank account syncing.
Which software Buildium or Hemlane offers better tenant management features?
Buildium offers better tenant management features, including tenant screening, lease management, and maintenance tracking. Hemlane focuses more on rental property marketing and rent collection.
How easy is it to use Buildium and Hemlane software?
Both Buildium and Hemlane are designed to be user-friendly, with intuitive interfaces and easy-to-use tools. However, Buildium can be more complex and may require more time to learn and set up.
What are the pros and cons of using Buildium?
Pros of using Buildium include its comprehensive features, strong financial reporting tools, and robust tenant management tools. Cons of using Buildium include its higher pricing plans and potentially longer learning curve.
What are the pros and cons of using Hemlane?
Pros of using Hemlane include its affordability, user-friendly interface, and strong rental property marketing tools. Cons of using Hemlane include its limited feature set and lack of more advanced property management tools.
Which Software Buildium or Hemlane is the best fit for your needs and budget?
The best software for your needs and budget will depend on your specific requirements as a landlord or property manager. If you need a more comprehensive solution with advanced financial reporting and tenant management tools, Buildium may be the better choice. If you are focused primarily on rental property marketing and basic property management features, Hemlane may be a more affordable and user-friendly option.