What is Buildium? A Guide to Property Management Software

Buildium is a cloud-based property management software that allows real estate professionals to manage their rental properties effectively.

Founded in 2004 by Michael Monteiro, Buildium has been providing property management solutions for over 15 years. The software is designed to help property managers streamline their daily activities, including leasing, accounting, and operations.

Buildium is an alternative to RealPage, another popular property management software. However, Buildium is known for its user-friendly interface and affordability.

The software is suitable for property managers of all portfolios and unit counts, whether you manage five doors or five thousand. With Buildium, property managers can access a simple, unified platform that powers them to be their best.

Overall, Buildium is a reliable property management software that offers a range of features to help property managers manage their rental properties efficiently. Whether you’re a small business owner or a large property management company, Buildium has the tools you need to succeed. Read on!

What is Buildium?

Overview

Buildium is a cloud-based property management software that streamlines property operations for property managers, landlords, and real estate professionals.

The software offers a comprehensive suite of tools that help users manage their rental properties with ease, including accounting, leasing, maintenance, and communication.

Investopedia also hailed Buildium as the Best Overall Rental Property Management Software for 2023.

Buildium was founded in 2004 and is headquartered in Boston, Massachusetts. The company’s mission is to provide property managers with the technology and services they need to run their operations efficiently and effectively.

Features

Buildium offers a range of features that make property management operations more efficient. Some of the key features include:

• Accounting: Buildium’s accounting tools help property managers keep track of their finances, including rent payments, expenses, and taxes. The software also generates financial reports and provides real-time insights into property performance.
• Leasing: Buildium’s leasing tools make it easy for property managers to find and screen tenants, create lease agreements, and collect rent payments. The software also automates lease renewals and move-outs.
• Maintenance: Buildium’s maintenance tools help property managers schedule and track maintenance requests, assign work orders to vendors, and communicate with tenants about repairs.
• Communication: Buildium’s communication tools enable property managers to stay in touch with tenants, owners, and vendors. The software offers email and text messaging capabilities, as well as a tenant portal where renters can pay rent, submit maintenance requests, and communicate with property managers.

Capterra noted that Buildium offers a 14-day trial (no credit card needed!).

Overall, Buildium is a powerful property management software that helps users streamline their operations and improve their bottom line.

With its comprehensive suite of tools and user-friendly interface, Buildium is a popular choice for property managers and real estate professionals looking to take their operations to the next level.

Buildium for Property Managers

Buildium is a cloud-based property management software that helps property managers streamline their workflows and improve their efficiency.

It offers a wide range of features that cover the needs of property managers, including portfolio management, resident management, vendor management, financial management, and maintenance management.

In fact, one customer review from G2 described Buildium as the “perfect solution for Property Managers.“

Portfolio Management

Buildium provides property managers with an easy-to-use platform to manage their portfolios. It allows them to keep track of all their properties, units, and tenants in one place.

Property managers can easily add new properties, units, and tenants to their portfolio and keep track of their leases, rent payments, and move-ins and move-outs.

Resident Management

Buildium’s resident management features help property managers keep track of their tenants and their needs. It allows them to communicate with tenants via email or text message, send rent reminders, and handle maintenance requests.

Property managers can also use Buildium to screen tenants, run credit checks, and manage lease agreements.

Vendor Management

Buildium’s vendor management features help property managers manage their relationships with vendors. It allows them to keep track of their vendors, their contracts, and their payments.

Property managers can also use Buildium to request quotes from vendors, approve work orders, and track the progress of maintenance tasks.

Financial Management

Buildium’s financial management features help property managers keep track of their finances. It allows them to manage rent payments, expenses, and invoices.

Property managers can also use Buildium to generate financial reports, such as profit and loss statements, balance sheets, and cash flow statements.

Maintenance Management

Buildium’s maintenance management features help property managers manage maintenance requests and tasks.

It allows them to track maintenance requests, assign tasks to vendors, and monitor the progress of maintenance tasks. Property managers can also use Buildium to generate maintenance reports and keep track of maintenance expenses.

In conclusion, Buildium is a powerful property management software that offers a wide range of features to help property managers streamline their workflows and improve their efficiency.

It covers the needs of property managers, including portfolio management, resident management, vendor management, financial management, and maintenance management. By using Buildium, property managers can save time, reduce costs, and improve their bottom line.

Buildium for Rental Owners

Buildium is a cloud-based property management software that provides rental owners with a comprehensive solution to manage their properties. With Buildium, rental owners can easily manage their properties, tenants, and finances from a single platform.

Accounting and Financials

Buildium offers a robust accounting and financial management system that allows rental owners to keep track of their income, equity, and assets. With Buildium, rental owners can:

• Track income and expenses
• Generate financial reports
• Manage bank accounts and transactions
• Create and manage budgets
• Automate rent payments and late fees

Rent Collection

Buildium provides rental owners with an easy and efficient way to collect rent from their tenants. Rental owners can set up automatic rent payments, send out rent reminders, and track rent payments in real-time. With Buildium, rental owners can:

• Collect rent online
• Set up automatic rent payments
• Send out rent reminders
• Track rent payments in real-time

Online Payments

Buildium allows rental owners to receive and make online payments, making it easy for tenants to pay rent and for rental owners to pay vendors. With Buildium, rental owners can:

• Receive online payments from tenants
• Make online payments to vendors
• Set up automatic payments

Late Fees and Deposits

Buildium provides rental owners with a flexible system for managing late fees and deposits. Rental owners can set up late fees and deposits based on their specific needs, and Buildium will automatically calculate and track them. With Buildium, rental owners can:

• Set up late fees and deposits
• Track late fees and deposits
• Automate late fee and deposit calculations

Compliance

Buildium helps rental owners stay compliant with local and federal regulations by providing them with the tools they need to manage their properties. Buildium provides rental owners with:

• Access to important legal documents
• Tools to manage tenant screening and leasing
• Compliance tracking and reporting

Overall, Buildium provides rental owners with a comprehensive solution for managing their properties, tenants, and finances. With Buildium, rental owners can streamline their operations, reduce their workload, and focus on growing their business.

Buildium for Associations

Buildium is a property management software that caters to a wide range of properties, including associations. Buildium for Associations offers a comprehensive solution for managing community associations, HOAs, and condominiums.

Portfolio Management

With Buildium, associations can easily manage their portfolio of properties. The software allows users to add and edit property details, including unit information, ownership accounts, and association owners.

Associations can also track their properties’ status, such as vacancies, pending applications, and move-in dates.

Resident Management

Buildium’s resident management feature allows associations to communicate effectively with homeowners and non-owner residents.

Associations can send announcements, newsletters, and other important updates via email or text message. The software also enables residents to submit maintenance requests and pay their dues online.

Vendor Management

Associations can manage their vendors and service providers with Buildium’s vendor management feature.

The software allows users to add and edit vendor details, including contact information, services provided, and payment terms. Associations can also track their vendors’ performance and ratings.

Financial Management

Buildium’s financial management feature allows associations to manage their finances effectively.

The software enables users to create and manage budgets, generate financial reports, and track their income and expenses. Associations can also collect dues and fees, create invoices, and process payments online.

Maintenance Management

Buildium’s maintenance management feature allows associations to manage their maintenance requests effectively.

The software enables residents to submit maintenance requests online, and associations can track and manage these requests from start to finish. Associations can also create and manage work orders, schedule maintenance tasks, and track their maintenance expenses.

In conclusion, Buildium for Associations offers a comprehensive solution for managing community associations, HOAs, and condominiums.

The software provides features for portfolio management, resident management, vendor management, financial management, and maintenance management.

Associations can use Buildium to manage their properties, communicate with residents, manage vendors and service providers, manage their finances, and manage maintenance requests.

Buildium Academy

Buildium Academy is an online training program designed to help users master the software and take better control of their business. The academy offers a range of courses, from basic setup to sophisticated workflows, that cover everything users need to know to get the most out of Buildium.

Tutorials

Buildium Academy offers a variety of tutorials that cover different aspects of the software. These tutorials are designed to help users get up to speed quickly and easily. Some of the tutorials available include:

• Account and User Settings: This tutorial covers how to set up and manage user accounts, as well as how to customize settings to meet specific business needs.
• Entering Data – Rentals | Associations: This tutorial covers how to enter data for rentals and associations, including how to add new properties, units, and tenants.
• Accounting: This tutorial covers how to set up and manage accounting in Buildium, including how to create and manage accounts, pay bills, and generate financial reports.
• Communications: This tutorial covers how to use Buildium to communicate with tenants, owners, and vendors, including how to send messages, create templates, and track communication history.

Support

Buildium Academy also offers support for users who need additional help or have questions about the software. Users can access support through the Buildium Help Center, which provides a range of resources, including:

• Knowledge Base: The knowledge base is a collection of articles and tutorials that cover different aspects of Buildium. Users can search the knowledge base to find answers to common questions and issues.
• Community Forum: The community forum is a place where users can ask questions, share ideas, and get advice from other Buildium users.
• Support Tickets: Users can submit support tickets to get help from the Buildium support team. Support tickets are typically answered within 24 hours.

Overall, Buildium Academy is a valuable resource for users who want to get the most out of the software. With a range of tutorials and support options, users can quickly and easily learn how to use Buildium to manage their properties and grow their business.

Buildium vs RealPage

Buildium and RealPage are two popular property management software options available on the market. While both offer similar features and functionality, there are some key differences between the two that may make one a better fit for your business needs.

One of the main differences between Buildium and RealPage is their pricing models. Buildium offers a tiered pricing structure based on the number of units managed, while RealPage offers a more customized pricing model based on the specific needs of each customer.

This means that Buildium may be a more cost-effective option for smaller businesses, while RealPage may be a better fit for larger enterprises with more complex needs.

Another key difference between the two is their user interfaces. Buildium has a more modern and intuitive interface, while RealPage’s interface can be more complex and difficult to navigate for some users.

However, RealPage does offer more customization options, which may be appealing to businesses with more specific needs.

In terms of features, both Buildium and RealPage offer similar functionality such as online rent payment, maintenance tracking, and tenant communication.

However, RealPage also offers additional features such as lead management and revenue management, which may be important for businesses looking to streamline their operations and maximize revenue.

Overall, the choice between Buildium and RealPage will depend on the specific needs and budget of your business. It’s important to carefully evaluate both options and consider factors such as pricing, user interface, and feature set before making a decision.

Buildium Reviews

Buildium is a cloud-based property management software that is designed to help property managers and real estate investors manage their properties more efficiently. It has received positive reviews from users who appreciate its comprehensive features, ease of use, and excellent customer support.

One of the most common praises of Buildium is its all-in-one platform that allows users to manage all aspects of their property management business in one place.

Users can handle accounting, communications, leasing, and maintenance tasks with ease, thanks to the platform’s intuitive interface and top-rated mobile apps.

Another feature that users love about Buildium is its online tenant screening services. This service allows property managers to run background checks on potential tenants, making it easier to find reliable renters.

Tenants and rental owners can also submit requests online via Buildium’s tenant and owner portals. Property managers can turn these requests into work items and assign them to maintenance managers and staff using Buildium or Buildium’s mobile app.

Buildium’s customer support is also highly rated by users. The company offers a comprehensive knowledge base, video tutorials, and a dedicated support team that is available via phone, email, or chat.

Users appreciate the prompt and helpful responses they receive from Buildium’s customer support team.

Overall, Buildium is a highly recommended property management software that offers a comprehensive set of features, excellent customer support, and an intuitive interface.

Whether you’re a property manager or a real estate investor, Buildium can help you streamline your business operations and improve your bottom line.

As a reviewer who prioritizes transparency, it’s important to mention that Buildium has received a positive rating of 8.4 out of 10 stars on TrustRadius, based on genuine feedback from customers.

This information can be useful for those seeking reliable and trustworthy all-in-one real estate property management software.

Key Takeaways

Buildium is a cloud-based property management software designed for property managers and landlords.

It offers an integrated accounting system, streamlines leasing processes, expedites incoming payments, and improves accounting workflows with monthly pricing starting at $52. Here are some key takeaways about Buildium:

• Buildium is a comprehensive property management software that allows property managers to manage all aspects of their business from a single platform.
• The software offers a wide range of features, including tenant screening, online rent payments, maintenance tracking, accounting, and more.
• Buildium is a cloud-based software, which means that users can access it from anywhere with an internet connection.
• The software is designed to be user-friendly, with an intuitive interface that makes it easy for property managers to navigate and use.
• Buildium offers pricing plans that are based on the number of units in a portfolio and selected features. The pricing plans start at $52 per month and go up from there.
• Buildium is a good option to consider for owners with one to 5,000 units or more.

Buildium offers a range of pricing plans to suit the needs of different types of users. The pricing plans are based on the number of units in a portfolio and selected features. The plans start at $52 per month and go up from there.

One of the key benefits of Buildium is that it is a cloud-based software. This means that users can access it from anywhere with an internet connection. The software is designed to be user-friendly, with an intuitive interface that makes it easy for property managers to navigate and use.

Buildium offers a wide range of features that are designed to help property managers manage all aspects of their business from a single platform. Some of the key features include tenant screening, online rent payments, maintenance tracking, accounting, and more.

Overall, Buildium is a comprehensive property management software that is designed to make the lives of property managers easier. With its user-friendly interface, wide range of features, and affordable pricing plans, it is a great option for property managers of all sizes.