Episode Details

Do you own single-family properties, but rent them out? Are you tired of dealing with tenants? Incompetent contractors? Why do-it-yourself (DIY)? Why waste your time? About 70% of owners self-manage their properties. You can't and shouldn't do it all. Help is available.

Today, I am talking to Dana Dunford of Hemlane, an all-in-one rental property management solution. After being encouraged by family and friends, Dana decided to do real estate investing on the side while working at Apple. She tried self-managing her properties, only to discover how difficult that can be - even tougher than calf dressing!

[02:50] Moving from self-management to hybrid solution involving experts in real estate/property management to streamline and mitigate risks.

[04:15] Property Management and Technology: Taking a different approach to build communities of agents, owners, and managers to work together.

[07:50] Potential for property management industry: Buying real estate is easy; property management is much more difficult, but determines the success of your investment.

[10:27] Property managers have to do everything and need to be Jack-or-Jill of all trades (maintenance, lawyer, therapist, sales, marketing, etc.).

[10:56] Dana's driven toward challenge; something new happens every day in property management and risk needs to be mitigated.

[11:27] Subject matter experts should provide best practice, place, and process; there's only so much technology and robots can do.

[13:05] Entrepreneurs/Gluttons for Punishment: Highly adaptable and enjoy challenges.

[14:56] Turnkey: When something goes wrong, property manager gets blamed.

[15:47] Hemlane: Flexible and transparent property management platform that helps property managers solve problems.

[19:55] Hemlane's Ideal Prospect: Under 200 units and wants to grow portfolio/clientele.

[22:36] Hemlane offers automation of administrative tasks and competitive advantage by building relationships and services over time.

[27:10] Real estate investors find out about Hemlane on social media and blogs.

[31:57] Are you trained and qualified, or just pretending to be a property manager?

[35:15] FAQs from Property Managers: How can I communicate with owners? Will Hemlane take my clients? How do I know if I need help?

[41:07] People aren't buying property management; but safety, certainty, and trust.

[48:40] What is a hemlane? House Differentiation: Hem is house in Swedish; lane is a path that divides you from others.

Property management is challenging; something new happens every day.

Whether you love or hate them, industry isn't ready for robots to show properties.

Turnkey is a terrible word; if something goes wrong, the property manager is blamed.

People aren't buying property management. They want safety, certainty, and trust.

Hemlane

Dana Dunford's Email

Dana Dunford on LinkedIn

Hemlane on Software Advice

Hemlane on Capterra

Hemlane on GetApp

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