How to Use Buildium: A Beginner’s Guide to Property Management Software

Buildium is a property management software that helps landlords and property managers streamline their operations.

It offers a range of features such as accounting, maintenance management, vendor management, payment collections, communications, and resident center. With Buildium, landlords can automate many of their day-to-day tasks, saving them time and resources.

For those who are new to Buildium, getting started can be a bit overwhelming. However, with the right guidance, it can be a breeze.

In this article, we’ll provide a beginner’s guide to using Buildium. We’ll cover everything from setting up your account to managing your rentals, so you can get up and running quickly.

Whether you’re a seasoned property manager or a first-time landlord, this guide will help you make the most of Buildium’s features. Read on to learn more.

Getting Started with Buildium

Buildium is a cloud-based property management software that helps property managers streamline their daily tasks. The software is easy to use, and getting started with Buildium is a straightforward process. In this section, we will cover how to create an account and set up your profile.

Creating an Account

To create a Buildium account, follow these steps:

1. Go to the Buildium website and click on the “Sign Up” button.
2. Choose the type of account you want to create (property manager or association manager).
3. Enter your email address and create a password.
4. Fill out the required information, including your name, company name, and phone number.
5. Agree to the terms and conditions and click on the “Create Account” button.

Once you have created your account, you will be taken to the Buildium dashboard. Here, you can start setting up your profile.

Setting Up Your Profile

To set up your profile, follow these steps:

1. Click on the “Settings” tab in the top right corner of the dashboard.
2. Click on “Company Information” to enter your company details, including your company name, address, and phone number.
3. Click on “Users” to add users to your account and set their permissions.
4. Click on “Payment Information” to set up your payment options.
5. Click on “Accounting” to set up your accounting preferences.

Buildium offers a range of customization options, so you can tailor the software to your specific needs. For example, you can set up automatic payments, customize your lease agreements, and create custom reports.

In conclusion, getting started with Buildium is a simple process that involves creating an account and setting up your profile. By following the steps outlined in this section, you can quickly get up and running with the software and start streamlining your property management tasks.

Managing Properties in Buildium

Buildium makes property management effortless with its intuitive interface and extensive range of features. It has received an impressive rating of 8.4 out of 10 stars from TrustRadius and 4.4 out of 5 stars from G2, reflecting its high level of user satisfaction.

In this section, we’ll explore how to add a property, manage its information, and lease and rent properties.

Adding a Property

To add a property in Buildium, navigate to Rentals > Properties and click on the “Add Property” button.

From there, you can choose the property type and subtype, such as multi-family or commercial. If you have multiple units in a single property, select “multi-family” and enter the number of units.

Once you’ve added your property, you can easily manage its information and track its financials in Buildium.

Managing Property Information

Buildium allows you to manage all the information related to your properties in one place. From the property’s address and contact information to its rental history and maintenance requests, you can keep everything organized and up-to-date.

One useful feature in Buildium is the ability to set up automatic rent reminders and late fees. You can also track lease expirations and renewals, and easily generate leases and move-in documents.

Leasing and Renting Properties

Buildium streamlines the leasing and renting process, from lead to lease. You can create customizable rental applications and public websites to attract tenants, and easily screen and e-lease applicants.

Once a tenant is in place, you can manage their rent payments and security deposits through Buildium’s online payment system. You can also track maintenance requests and inspections, and generate reports for owners and vendors.

Therefore, as highlighted by ButterflyMX, this integration offers a time-saving solution that eliminates the need for manually updating resident information on multiple platforms, simplifying the process and reducing the associated inconvenience.

In conclusion, Buildium is a powerful tool for managing properties, leasing and renting, and tracking financials. With its comprehensive features and user-friendly interface, it’s a great choice for property managers and landlords.

Managing Tenants and Residents

Managing tenants and residents is a crucial aspect of property management, and Buildium offers a range of tools to make this process easier. In this section, we will cover how to add tenants and residents, screen potential tenants, and communicate with them effectively.

Adding Tenants and Residents

To add tenants and residents to Buildium, simply navigate to the “Rentals” tab and select “Tenants.” From there, click “Add Tenant” and fill out the necessary information, including their name, contact information, and lease terms.

You can also add residents to a tenant’s account by clicking “Add Resident” on their tenant page.

Once you have added tenants and residents to Buildium, they can access their account through the Resident Center.

This platform allows tenants and residents to view their financial transactions, submit maintenance requests, and make payments online, streamlining communications and making it easier for you to manage your properties.

Tenant Screening

Tenant screening is an important part of the leasing process, and Buildium offers a range of tools to help you screen potential tenants. You can run credit and background checks on applicants directly through Buildium, as well as verify their income and employment history.

By screening potential tenants thoroughly, you can ensure that you are selecting reliable tenants who are likely to pay rent on time and take good care of your property.

Communication with Tenants and Residents

Effective communication is key to managing tenants and residents successfully. Buildium offers a range of communication tools, including email and text messaging, to help you stay in touch with your tenants and residents.

You can use these tools to send reminders about rent payments, provide updates on maintenance requests, and more. By communicating regularly and clearly with your tenants and residents, you can build strong relationships and ensure that your properties are well-maintained.

In conclusion, managing tenants and residents is an essential part of property management, and Buildium offers a range of tools to make this process easier.

By adding tenants and residents to Buildium, screening potential tenants thoroughly, and communicating effectively with them, you can ensure that your properties are well-maintained and your tenants are satisfied.

Managing Tasks and Maintenance

In Buildium, managing tasks and maintenance is a breeze. This section will cover how to create tasks and work orders, schedule and track maintenance, and perform property inspections.

Creating Tasks and Work Orders

Tasks in Buildium are anything that needs to be done. You can create tasks for yourself or assign them to a team member. To create a task, simply click on the “Add Task” button and fill out the details. You can set a due date, priority level, and add notes or attachments.

Work orders are tasks that are related to maintenance work. Residents or owners can request work orders through the tenant or owner portal. Managers can then assign the work order to a vendor or in-house maintenance team. Work orders can also be created manually by managers.

Scheduling and Tracking Maintenance

Buildium makes it easy to schedule and track maintenance work. You can create recurring maintenance tasks, such as monthly inspections or seasonal upkeep. You can also schedule one-time maintenance tasks, such as repairs or replacements.

To schedule maintenance, simply create a task or work order and assign it to a vendor or in-house maintenance team. You can track the progress of the task and receive notifications when it is completed.

Property Inspections

Property inspections are an important part of maintaining rental properties. With Buildium, you can perform move-in, move-out, and periodic inspections. You can also create custom inspection templates to fit your specific needs.

To perform an inspection, simply create a task and assign it to the inspector. The inspector can then complete the inspection and upload any notes or photos. You can track the progress of the inspection and receive notifications when it is completed.

In conclusion, managing tasks and maintenance in Buildium is simple and efficient. With the ability to create tasks and work orders, schedule and track maintenance, and perform property inspections, you can keep your rental properties in top condition.

Accounting and Payments in Buildium

Buildium offers a comprehensive accounting and payments system that helps property managers stay on top of their finances. This section will provide an overview of the accounting cycle, collecting and making payments, 1099-MISC forms and mailings, and epay.

Accounting Cycle

Buildium’s accounting cycle is designed to provide property managers with an accurate picture of their real-world finances.

The system automatically calculates the amount of money that can be paid to a rental owner as you work through the month. For example, when you receive a payment, the available cash goes up. Pay a vendor and the available cash and suggested owner draw amount will reduce.

Collecting and Making Payments

Buildium makes it easy to collect and make payments. To collect rent, navigate to the Rent Payments page and select the tenant you want to collect rent from. You can also set up automatic rent collection, which will automatically deduct rent from a tenant’s bank account on a set schedule.

To make payments, navigate to the Accounting > Bills page. Click Record bill and select the date you received the bill along with the bill due date.

Include as much information as possible, and click Save. The bill will appear on the bill page automatically. When it’s time to pay, click the bill to view it. Select Pay bill.

1099-MISC Forms and Mailings

Buildium makes it easy to generate and mail 1099-MISC forms to vendors. Simply navigate to the 1099-MISC Forms page and select the vendors you want to generate forms for.

Buildium will automatically populate the forms with the vendor’s information and the amount paid. You can then download the forms and mail them to the vendors.

Epay

Buildium’s epay system allows tenants to pay rent online. Tenants can make payments using a credit card or by entering their bank account information. Payments are automatically recorded in Buildium’s accounting system, making it easy to keep track of who has paid and who hasn’t.

In conclusion, Buildium’s accounting and payments system is a powerful tool that can help property managers stay on top of their finances. Whether you’re collecting rent, making payments, generating 1099-MISC forms, or processing epayments, Buildium has you covered.

Association Management in Buildium

Buildium is a comprehensive property management software that offers a range of features to help property managers streamline their workflows. One of the key features of Buildium is its association management capabilities, which allow property managers to manage associations with ease.

Managing Associations

Buildium allows property managers to manage multiple associations in one place, making it easy to keep track of all of their properties. Property managers can easily add new associations to Buildium, and can set up automatic payments and reminders for association fees.

In addition, Buildium allows property managers to keep track of important association documents, such as bylaws and meeting minutes, in one place. Property managers can also use Buildium to create and track work orders for association maintenance requests.

Branding Your Association

Buildium allows property managers to brand their associations with custom logos and colors, giving them a professional and cohesive look.

Property managers can also create custom association websites using Buildium’s website builder, allowing them to communicate important information to association members in one central location.

Communication with Associations

Buildium offers a range of communication tools to help property managers stay in touch with association members.

Property managers can use Buildium to send mass emails to association members, as well as to create and send newsletters. In addition, Buildium offers a discussion forum where association members can communicate with each other and with the property manager.

Overall, Buildium’s association management features make it easy for property managers to manage multiple associations with ease.

With its comprehensive set of tools for managing associations, branding associations, and communicating with association members, Buildium is a powerful tool for property managers looking to streamline their workflows and improve their efficiency.

Reporting and Analytics in Buildium

Buildium offers a comprehensive reporting and analytics system that allows users to generate reports and analyze data quickly and easily. This section will cover the basics of generating reports and analyzing data in Buildium.

Generating Reports

To generate a report in Buildium, users can navigate to the “Reports” section of the software and select the type of report they want to create.

There are several types of reports available, including financial reports, rental reports, and task reports. Users can also create custom reports by selecting the specific criteria they want to include.

Once a report has been generated, users can customize it further by selecting the date range, format, and other options. Reports can be exported in a variety of formats, including PDF, Excel, and CSV.

Analyzing Data

Buildium’s reporting and analytics system also allows users to analyze data to gain insights into their business. Users can use filters and other tools to drill down into specific data sets and identify trends and patterns.

For example, users can analyze rental data to identify which properties are generating the most revenue, which tenants are consistently paying on time, and which units are vacant. This information can be used to make informed business decisions and improve overall performance.

In addition to traditional reporting and analytics tools, Buildium also offers a dynamic reporting feature that allows users to create interactive reports that can be customized on the fly.

This feature is particularly useful for users who need to share data with others or present information in a clear and concise manner.

As someone with firsthand experience in buying, selling, and investing in real estate, I can confidently state that Buildium’s reporting and analytics system is an invaluable resource for users.

This robust tool empowers individuals to gain valuable insights into their business and make well-informed decisions.

By leveraging the capability to generate reports and analyze data, users can identify opportunities for growth, pinpoint areas that require improvement, and optimize their operations for optimal efficiency.

To Summarize

In summary, Buildium is a powerful property management software that can help landlords and property managers streamline their daily tasks and improve their overall efficiency.

With Buildium, users can easily manage their rental properties, collect rent payments, track maintenance requests, communicate with tenants, and more.

One of the key benefits of Buildium is its user-friendly interface, which makes it easy for even novice users to navigate and use the software. Additionally, Buildium offers a wide range of features and tools to help users manage their properties more effectively.

Some of the key features of Buildium include:

• Rent Collection: Buildium makes it easy for landlords to collect rent payments from tenants. Users can set up automatic payments, track payment history, and generate reports on rent payments.
• Maintenance Tracking: With Buildium, users can track maintenance requests and work orders, assign tasks to maintenance staff, and monitor progress on maintenance projects.
• Communication Features: Buildium offers a variety of communication tools, including email and text messaging, to help landlords and property managers stay in touch with tenants and other stakeholders.
• Reporting: Buildium provides a range of reports and analytics to help users track their financial performance, monitor property expenses, and make informed decisions about their properties.

Overall, Buildium is a powerful and user-friendly property management software that can help landlords and property managers streamline their daily tasks and improve their overall efficiency.

Whether you’re managing a single rental property or a large portfolio of properties, Buildium can help you stay organized, save time, and grow your business.