Hemlane vs. RentSpree: 3 Features You Need for Your Business

As your rental portfolio grows, having a property management software will increase the rate of this growth. By setting your daily administrative tasks on autopilot, you'll not only free up your calendar, you'll also be able to focus on the more important aspects of your business. With the countless softwares available to you, making a decision can be hard. With this in mind, we've started to provide landlords, like you, a comprehensive comparison between the major players in this space. This week, we will compare these two titans: Hemlane Vs. RentSpree, and dive into the features each platform has to help you reduce your workload!

Hemlane Vs. RentSpree - Side by Side

Receive Rent Payments Faster

Now that you have an idea of what to expect from both platforms, we’ll break down some key features you should keep in mind when choosing your next property management software.

One of the biggest advantages you gain with a property management software is the ability to collect rent online! Skip the checks and bank lines and instead start collecting payments online. Through online payments, your tenants can send payments to you directly without having to take the time out of anyone’s day!

Now that we can see the benefits of online payments, which platform should you use to process these payments? When comparing these two software options, Hemlane vs RentSpree, there are some key differences you need to consider:

• The type of payment methods it accepts;
• The processing fees; and
• How long it takes to process payments.

When submitting payments on Hemlane, your team members and tenants have the option of submitting their payments from their bank accounts or through a credit or debit card. All payments made from their bank account are completely free. What’s the best part of all this? When users make payments on Hemlane, the payments would typically process over a 2-3 business day period!

How does RentSpree compare in this field?

At the time of writing this article, RentSpree allows your users to make payments using their bank accounts only. Their team is looking into credit card payments but it has not gone live on their platform. When a tenant submit their payments, RentSpree will also charge a $3 processing fee. Lastly, transactions on RentSpree process within 7 business days.

With these factors brought into light, we believe that Hemlane is the clear choice if you want quicker transaction speeds and free bank to bank transfers!

Are you collecting rent through payment processors like CashApp, PayPal or Venmo? If so, you should know there are risks associated with them. Check out our article on this topic to help protect yourself!

Find Your Next Tenant Within 30 Days

As with all rental properties, there comes a time where your tenants move out and you’ll need to find someone to come in and call it home. At Hemlane, we believe that your property management software should be able to help you, not only for processing rent payments but also to help you with other aspects of your rental business.

With this in mind, Hemlane begins by helping you create a custom listing page for any of your rental properties. Additionally, we'll also promote your listing to our partner network of over 30 listing websites. With a press of a button, you can go from an empty property to having hundreds of eyes on your listing, effectively shortening the time your property is vacant.

With the numerous leads coming in from these listings, Hemlane provides you with an easy way to screen your tenants through a comprehensive tenant screening provided by TransUnion. This report will provide you with your applicant’s credit and background check, eviction report, and income insights. If everything is in line with what you are looking for, you can easily move forward and set them up as a tenant within Hemlane.

RentSpree currently does not have a network of listing partners for you to advertise with. Instead, you are able to create a listing page that you can share with your network. Incoming leads would then be able to submit their applications and complete a tenant screening as well. RentSpree’s report includes an overview of the credit report, background check, and eviction report. As of right now, RentSpree does not include the income insights for your applicants which can play a factor when deciding on your next tenant.

Delegate Repair Coordinations

Still not convinced? Here’s another feature Hemlane provides that RentSpree does not: Repair Coordination!

Hemlane provides you with a 24/7 repair coordination team to complete repair requests submitted by you or your tenants. With each request, a repair coordinator will first work with your tenant to first troubleshoot the situation. By troubleshooting first, we have seen 7% of requests being closed before a vendor is contacted, saving you the service call charges!

When servicing is needed, our repair coordinators will work with your service professionals or with our network of vetted service professionals in the area to schedule service appointments with your tenants. Through the platform, you will also be notified with updates on the repairs so you know what is being done at your property. Did we mention that our coordinators are consistently rated 4.7 stars?

The Property Management Software We Recommend

A property management software can reduce the time you spend managing your rentals, but if you were to compare Hemlane and RentSpree, we think there is a clear winner. Hemlane processes your payments faster, provides you with resources to speed up your new tenant search, and quickly action repair requests at your rental property.

But don’t just believe us, try Hemlane for free and see why our clients consistently recommend Hemlane to their friends!