Buildium Review – Run Your Property Management Business With Ease
Most renters just want to find a place where they can feel at home, but many believe they have every right to be picky. To make money from property management, you have to know how to accommodate your clients by planning everything, from rent collection to scheduling repairs.
Enter Buildium, a piece of life-altering property management software. Dozens of online Buildium reviews echo our praise of this property manager. It won’t do all the work for you, but it does make everything easier.
14-day free trial available. See review for more pricing details.
- Free trial
- Affordable pricing
- Great training
- A+ BBB rating
- Renter’s insurance
- Exceptional mobile apps
- Pricey third-tier plan
- Occasional glitches
As is the case with many successful platforms, the founders of Buildium created the software based on their own experiences. They started their property management software company in 2004 with the goal of simplifying the tasks they found particularly challenging during their property management careers.
It’s hard to imagine that Michael Monteiro and Dimitris Georgakopoulos knew just how successful their business venture would be. Buildium, LLC has made the Inc. 5000 list several times and won numerous awards over the years.
Buildium’s excellence is also recognized by the Better Business Bureau, which is apparent from its A+ rating.
Buildium offers a long list of features that are difficult to cram into a single review. We’ll go over the main ones so that you get a decent overview of this great product.
Let’s begin by describing the most useful tools provided by Buildium. As is the case with running or owning any business, accounting is vital. Of course, this is often tedious work. With Buildium property management software, you’ll be able to get every single bookkeeping task done within seconds, and without having to rely on external bookkeeping software solutions.
Buildium significantly reduces the average workload for property managers. First off, rent payments, fees, and bills can all be automated. Residents just have to input their account or credit card details in order to make deposits online. Property managers can monitor all of these transactions, and by using the built-in calculator they can allocate the necessary funds to vendors and their own company.
Buildium software also offers a useful time-saving feature that enables you to create pretty much any kind of report you can think of. From balance sheets to rental owner statements, this property management software has you covered. You can even generate and file 1099 forms, making tax-related headaches a thing of the past. While you can always subscribe to one of the tax software options available, having it all in one place and included in the price will help streamline your business operations.
Company owners can see a full overview of their business finances. You don’t need hard copies of important documents and complicated spreadsheets anymore. One of the main benefits of having all of this information in one place is that dividing company and property management costs is almost as simple as ordering a pizza online.
Many Buildium reviews focus on how easy it is to find new tenants using this software, and we wholeheartedly agree.
All you have to do is create a single listing for each of your units by entering as many or as few details and visuals as you like into the Buildium template. You then syndicate them to property listing services like Apartments.com, Apartment List, Lovely, Zumper, Craigslist, Trulia, HotPads, and Zillow. Seeing as you don’t have to go from one website to another creating separate listings, the entire process takes only minutes to complete.
The Buildium tenant screening feature lets you conduct thorough background checks that can tell you if someone has a criminal record, bad credit, or if they’ve been evicted in the past. Its screening feature is often listed as one of the best tenant screening solutions. Of course, you’ll need the potential tenant's consent for the background check, but their refusal to give you access to their past can be a red flag.
As a result of Buildium’s partnership with Tenant Turner, you can set qualification standards to reduce the number of lease applications that you have to examine. Additionally, Tenant Turner enables prospective tenants to book showings during the times you’ve specified and send automatic emails and texts.
Buildium property management software also enables you to build your very own website, which can help you attract even more renters. Services that focus solely on website design will most likely deliver a more fashionable look, but keep in mind that the website builder, web hosting, and domain name are included in every pricing package. The only downside we could identify was that instead of getting your own domain, you receive a sub-domain that includes a ManageBuilding.com extension located right behind your site’s name.
Once you’ve selected the tenants, you need to collect their signatures. Luckily, due to Buildium’s collaboration with Adobe Document Cloud, you just need to visit Buildium.com, log into your account, and send out leases. It’s that easy.
You’ll be able to use a number of online templates with auto-fill fields. The templates are customizable and you can store all of your leases in the Buildium cloud. By using the leasing dashboard, you can quickly check who still needs to sign using their eSignature.
If everything we’ve described so far hasn’t convinced you to get a subscription, the following features are sure to change your mind.
Managers, owners, and residents are able to log in to their accounts via the company’s website. However, we consider the Resident Center Buildium app to be a much better alternative. It’s available for both Android and iOS phones, and it enables tenants to take care of their responsibilities wherever they are. From there, they can set up automated rent payments, submit maintenance requests, communicate with their property manager, download important documents, and much more.
Speaking of on-the-go solutions, Buildium has a whole separate app for owners and managers. It shares many similarities with the one designed for residents; its main purpose is to help managers keep track of everything they need to do, simplify those tasks, and provide an efficient way of contacting residents. Essentially, it can do everything the Resident Center app does but from a manager’s perspective.
As most Buildium reviews will tell you, property inspections have become a lot easier since Buildium teamed up with HappyCo. By using HappyCo’s Happy Inspector app, you can select any type of inspection you want, fill out the simple form, and add pictures to it if necessary. The app is fully synchronized with Buildium, so you don’t have to waste time inputting all the data twice.
Through Buildium, you can offer your tenants MSI renter’s insurance. For only $12/month, residents can minimize the risk to their personal property. Even if residents choose a different insurance provider, you’ll still be able to view the policy information on your Buildium dashboard. Together with landlord’s insurance, this helps make sure that both parties are covered.
Analytics and Insights
The Buildium software reviews your business performance and gives you personalized insights. But what’s even more useful is that you can compare your property management company with the competition, which can be crucial when you’re just starting your property management business.
The last feature on our list is for more advanced users. Buildium’s open API gives you the option of integrating outside tools such as accounting, reporting, and CRM software. If you’ve never used a computing interface before but want to give it a try, Buildium has a great developer portal that can assist you in mastering the Buildium API.
Now that you’ve become acquainted with the many ways in which Buildium can make your life easier, you’re probably wondering just how much you’ll have to spend on this exceptional property management software.
There are three pricing packages to choose from:
The Essential package is perfectly suited for those who are just starting out and don’t need the full force of the Buildium property management software. The downside is that you’ll be charged a few extra bucks for services such as eLeases and setting up bank accounts. Also, customer support will only be available to you via tickets.
The Growth plan is the most balanced of the three when it comes to value for money. You get almost all the features we’ve listed plus unlimited leases, five free bank accounts, and live phone support.
Although it includes a few more perks, not everyone can find the extra $479 per month for the Premium Buildium pricing plan. This is a package for large businesses that need analytics, insights, and the API. The $479 will also get you priority support and access to a growth consultant for new client leads.
Premium users can get a 15% discount on their annual software subscription. However, there are quite a few conditions that they have to fulfill in order to become eligible.
Additional Pricing Information
For a few extra dollars, you can upgrade all three plans by adding All Property Management services. All Property Management is a network that connects property managers with property owners.
Keep in mind that the Buildium cost kits increase with the number of units you manage. The aforementioned prices are calculated for up to 20 units.
Buildium Free Trial
You can test the software by signing up for the 14-day trial, which allows you to use sample data. That means you won’t actually get to input your real information until you upgrade to a paid plan. Nevertheless, it’s still very useful when deciding if the product is suitable for your needs.
Ease of Use
At first glance, Buildium’s software might seem a bit intimidating. There are several dashboards and functions, and you’re also presented with a lot of details concerning both your company and rental properties. This is where Buildium Academy saves the day.
You won’t actually have to attend any classes; the Academy is the name of Buildium’s self-guided training program. Course topics include everything from basic to advanced Buildium functions. Every single course involves video tutorials, practice questions, quizzes, and other relevant resources. You can even have Buildium’s onboarding specialists compile a training plan customized for you.
Once you sign up, Buildium’s experts will load all of your data into the software to provide you with as smooth a transition as possible. Not only does Buildium provide the best property management software that money can buy, but it excels at taking care of its customers.
The mobile apps we've mentioned throughout this review have effective designs and are very user-friendly. This comes as no surprise to us because the apps are highly rated on both Google Play Store and the App Store.
Buildium was designed by property managers for property managers, and it shows. It has an impressive collection of superb end-to-end features that can be obtained at a reasonable price. The sheer number of functionalities may frighten those who are new to property management software, but there’s nothing to worry about; learning how to use Buildium is a breeze.
Buildium customer reviews are overwhelmingly positive. The bulk of the negative remarks we’ve come across mainly refer to small glitches. This is nothing to be concerned about since Buildium is very dedicated to keeping its service impeccable, and the software just keeps getting better with each update.
The starting price for Buildium is $50/month. There are three pricing packages to choose from, and the price varies depending on the number of units you manage. In our opinion, the middle Growth plan offers the best value for money.
Buildium is an excellent option for landlords managing properties on their own. PropertyWire is another example of great property management software. It’s a bit pricier than Buildium, but it might be a bit better suited for single-family homes.
If you own plenty of properties, then a property management company might be exactly what you need. For those who have a small to moderate number of units, these services might be too expensive.
QuickBooks shines when it comes to accounting, but it lacks the tools necessary for property management. According to online Buildium reviews, many people use QuickBooks and Buildium together in order to get the best results.