On the Smart package, Hemlane provides accounting services to manage and initiate payments to service professionals through a new service called Premium Maintenance Billing. Here are some benefits of the service:
- Faster assignment of service professionals -- Most plumbers, electricians, and other service pros want a credit card on file prior to scheduling work. As an owner or manager, it can be disruptive to receive a call for authorization. Since you have already provided maintenance thresholds, it is faster for Hemlane's team to authorize during scheduling.
- Security around all payments -- Our team never provides your bank account or credit card information to service professionals. We use one-time use credit cards with limits. This process makes sure your information is protected!
- Eliminating snail mail -- Checks can get lost in the mail or provide hesitation from a service pro on when they will receive it. You can count on Hemlane's team to help make sure the service pro receives payment in a timely manner.
- Providing a more hands-off experience -- By not requiring you to directly interact with the service pros on administrative items, you can become much more passive with your real estate. This allows you to focus on more important things, such as purchasing your next rental.
- Better accounting -- For tax season, your accountant will love you when you have all invoices and maintenance payments recorded in Hemlane.
Is there a fee associated with invoicing and payment services?
Hemlane currently has a beta version (free but it will be a paid service in the future) to help with maintenance invoicing, payment, and accounting services. The beta version is:
- Optional: if we are coordinating with your service professionals
- Required: if we are coordinating with our third party network
How does the beta version work?
Here is a step-by-step process:
- The coordinator receives an estimate on the work to be performed.
- The coordinator confirms the amount is reasonable and below threshold.
- The coordinator creates a one-time use credit card, up to this approved estimate, which links back to your bank account.
- The service pro is required to call the coordinator for any additional approval.
- The coordinator works through all invoicing, payment, and accounting in Hemlane.
Throughout the process, the owner and/or manager receives updates on the estimates and invoices to provide transparency with a more hands-off experience.
Can Hemlane use my credit card to pay service professionals?
Hemlane uses a credit card to pay service professionals, but it is not your credit card. Since most credit card authorization is done over the phone (not a secure online system), there is too much security risk associated with holding and providing your credit card details to third parties. The only way for us to guarantee your credit card details are not compromised is to provide a one-time use credit card to service pros. This one-time use card links back to your bank account.
Are there any limitations or exclusions to payments?
Premium Maintenance Billing only works with service professionals who accept credit cards. If your service professional does not accept credit card, then you will need to find some other way to make the payment.