Buildium is the only property management software designed by property managers for property managers. Buildium's all-in-one, cloud-based solution allows property managers to be more efficient and take control of every aspect of their business–from accounting and leasing to operations and maintenance. Video Overview Buildium services more than 13, 000 rental property and association managers in 46 countries – totaling over one million units under management. Backed by expert advice and relentless support, Buildium enables you to outperform across all facets of your business with intuitive software that balances power, simplicity, and ease of use. Core Features: Property Accounting > Buildium is a full general ledger accounting solution that provides accurate and flexible financial reporting for owner portfolios, individual associations and properties, and resident ledgers. Company Financials > Buildium tracks company financials alongside property expenses. Not only does this side-by-side data make accounting simple and headache-free, but it also ensures that every dollar is accurately allocated.
This is accompanied by additional features like financial reporting, payment recording, and bill management. For instance, if your tenant wants to pay rent online, you can use Buildium to directly deposit this payment through the preferred method to your bank account. This also helps in passing payments through the ledger and automatically recording transactions. Leasing The next module you can utilize in the software is the leasing process. Through Buildium, you can handle the rental listings on Trulia, Zillow, Craigslist, and Yahoo. Later, you can use the same software to screen your tenants and shortlist applications. The software offers a completely online procedure. You can even sign your leases online. In rental management, screening is the most important activity. It helps property managers and landlords to safeguard their income and properties. Fortunately, the Buildium screener can efficiently help you access the criminal, credit, and eviction records in a click. This helps you understand if an applicant is actually interested in moving in or if they are the right candidate or not.
You can also e-lease 30 free documents. The price for the entire plan is USD 160 for each month. Additional payments are: USD 0. 50 for outgoing payments USD 18 for screening 2. 95% for credit card transactions Essential Plan Property management companies, as well as landlords, can purchase this plan for the management of 150 or fewer rental units. The price for the entire plan is USD 50 for each month. USD 1 for incoming payments USD 15 for screening USD 99 for bank account setup USD 5 for e-lease USD 99 for mobile inspections Should You Use Buildium Property Management Software? If you want to streamline the processes and activities of the business, Buildium is a suitable property management software for you. As a property manager, it can get hectic to manage information and handle multiple data streams manually. The Buildium tool is amazing for activity and process automation. The pricing structure is also designed to help every category of users. So, even small and medium property management companies can easily purchase and utilize this software on a monthly basis.
However, documents at the property- or owner level are less helpful. It's just one big bucket per property or owner. Having a folder structure would be a big help. (Not there today. ) Buildium offers tenant bill-pay through an online portal for rent payments, and also outbound electronic payments to property owners. It's done through a 3rd party vendor and at additional cost. This is a double-edged sword. Very convenient; it makes the bookkeeping entries for you automatically. But if you're doing outbound payments, make sure to treat it just like an online banking account (long passwords, be careful of who in your office has access to it, etc. ) Allowing for extra security questions or letting users limit the IP addresses that have this outbound payment functionality would be helpful. The Bad: As noted, you'll get frustrated if you're trying to use this for commercial properties. The designers make assumptions that you're doing residential. CRM functionality is practically non-existent.
For example, if you want to send a bulk invoice you will have to navigate 3 levels deep. However we did get used to it after a few days of use. This is probably a minor issue for most but it will be great if Buildium can automatically highlight late rents and overdue payments. While you can check for late payments easily, what we are looking for is an automatic reminder that will appears on the main page (the "Dashboard" of Buildium) or a pop-up message for overdue payments. Conclusion and Recommendations To sum up our Buildium property management software review, it's clear this is an all-inclusive program that way overdelivers. It is invaluable to two groups of users in particular: 1. You are a full-time property manager or a landlord with 10 or more rental properties. 2. You are someone who likes to save time and automate your property management tasks as much as possible (in this case Buildium is an excellent choice even if you have few properties). If you fit the any of the above descriptions, then choosing Buildium is an absolute no-brainer.
Buildium handles the entire leasing process from advertising to application to lease signing, etc. Quickbooks was simply for back-end accounting. Buildium does it all! Lori from Swift Results Inc Company Size: 2-10 employees Industry: Real Estate Time Used: More than 2 years Review Source: Capterra Been using Buildium for about 6 years. We have been able to manage properties much more effeciently and thoroughly. Tenants now are more interactive and easier to recieve payments and get work orders done, so much less deferred maintenance. The software is intuitive and pretty easy to use. When we have needed Customer support there has typically been a live person that is very helpful. Pros The software is pretty easy to use, intuitive. Buildium does not really encourage integration with other Apps easily. Cons That Tenants can't do Independent Home inspections. OR that We can't tie another software into Buildium easily to allow us to customize a few things. Because we are a smaller company and did not need to manipulate software as much as Yardi allows (therefore costing more).
Cons We list properties for rent that do not have bed/baths on them - specifically, RV pad sites and commercial lots. Buildium does not allow us to list properties without the bed/bath requirement. This becomes confusing to prospective tenants when these listings are on our website and published elsewhere. The recommendation of a trusted property manager. Was speaking about my challenges with Cozy with another property manager. They told me about Buildium. I made the switch that day. Karen from Rental Management Services Company Size: 1 employee Industry: Real Estate Time Used: More than 2 years Review Source: Capterra Pros This software is extremely easy to use. In addition to using this program now for my personal rental properties, I also used this when I was previously employed as a Rental Property Mgr. I managed 60 properties. It save me a tremendous amount of time and assisted me in organizing what I needed to do on a daily basis. I absolutely love this software and highly recommend using Buildium for managing a rental property portfolio of ay size.
50 fee per outgoing EFT transaction 2. 95% fee per credit card transaction fee $99 setup fee per business bank account Free incoming EFT transactions $. 95% fee per credit card transaction fee Free setup for first five business bank accounts Buildium is a winner in our Best Online Rent Payment Services for Small Landlords. Communication, maintenance reports, and tracking Buildium's Resident Center is an online portal where you and your tenants can communicate with each other. Tenants can pay rent, submit maintenance requests, and easily access documents including lease agreements at their convenience. You can customize the portal with your logo and the colors of your choice. Choose which pages to show tenants, and share your portal with board members for full transparency. This feature is included with both the Core and Pro plans. Buildium is a winner in The Best Property Management Software for Managing Maintenance on Rental Property Financial tracking and reporting Buildium makes it easy to keep tabs on all of your units with accounting, budgeting, and reporting features built-in to both the Core and Pro plans.