We created Hammock to help landlords save time and money in the management of their property finances. The admin required to keep the health of the cash flow in check and to stay on top of bookkeeping can easily absorb all of a landlord’s energy. This is clearly a big headache for landlords with large portfolios, but do not underestimate how much it can affect landlords with fewer properties on their books. Since it takes so much time and effort, admin ends up preventing them from focusing on what matters most: developing and growing their investments.
Nathan is a Hammock user who’s currently managing 2 properties. And he’s just getting started. Nathan tells us how Hammock is helping him on his journey to expand his portfolio.
How did you manage your properties before Hammock?
I used to do what most landlords do. I set myself up with a spreadsheet and started making notes about movements in my cashflow. After some time, one spreadsheet wasn’t quite enough to keep track of everything, so I’ve added a few others to the mix. Once I found myself with more spreadsheets, I started filing them away in folders. Soon, I was spending longer than I’d ever thought browsing through a mix of folders and spreadsheets.
What made you think that Hammock was right for you?
I started looking for a solution to make my landlord accounts quicker to update and read. I also wanted an easier way to keep my tenants’ info up-to-date. After some research on Google, I came across Hammock. Hammock does exactly what I wanted it to do.
What do you like best about Hammock?
If I had to pick one feature, it’d definitely be the ability to track all transactions, both as an overall and segmented per property. Being able to keep track of the performance of my portfolio overall, and at the same time to zero in onto the sub-totals for each property has cut down my monthly admin massively.
What makes Hammock useful for landlords with a portfolio of your size?
Hammock helps you manage small portfolios efficiently from day one, which gives you confidence as you scale up. Not getting lost into the search for each expense into multiple bank statements saves me time and helps keep my mind fresh, so I never lose sight of the bigger picture.
Tell us anything else that you think is interesting about your property journey
Through these crazy times, it’s so important to systemise to free up your time to focus on buying more properties, adding value and getting in the right tenants. I highly recommend Hammock along with OpenRent as the ultimate combination.