Buildium is a software that is cloud-based and offers property management that allows managers of residential and association properties to administer every part of their business, whether in the office or completely remote, including online rent and payments, vacancy management, maintenance cycles, and accounting.
Summary
| Company | Buildium |
| Year of Establishment | 2004 |
| Best Features | Perfect control of your property |
| Initial Charges | Zero |
| Rating | A |
| Subscription Charges | Start with $50/month |
| Website | Click Here |
What is Buildium?
Buildium’s rent cycle features include tenant and lease tracking, full general ledger accounting, automated rent and fee reminders, and on-demand reports.
The property owner can automate the rent collection process, and property managers can receive online payments using Buildium’s tenant site.
The vacancy cycle is managed via syndicating vacancies to Buildium’s listing partners (such as Zillow, Trulia, and Craigslist) that also includes Buildium’s own free marketing website.
When applicants complete Buildium’s online rental applications, the information is instantaneously saved to the Buildium tenant database.
Buildium also provides background checks for tenants as part of its tenant screening services.
Tenants can utilize Buildium to submit rent payments and maintenance requests online via the resident portal.
Using desktop or mobile apps, property managers can convert requests into work items and assign them to maintenance managers and workers.
Why Should you Choose Buildium?
Buildium offers cutting-edge technologies and features to its customers, and that is why they are one of the best in property management.
These features and tech are the reason why you should choose Buildium.
- Property marketing
- Custom property listings
- Applicant management
- Resident management
Pros and Cons of Buildium
Pros
- The payments that you want to get through electronic means take 1 to 2 business days to process.
- Your firm can have an unlimited number of people in your Buildium account.
- Buildium also has open API access if you want to integrate with other systems and create new and custom workflows.
Cons
- .Buildium’s accounting feature is challenging for some clients to apply.
- Many people choose to use third-party software such as QuickBooks.
- Some cutting-edge technologies, like AI leasing agent or maintenance that is available for 24 hours, is not in Buildium.
- The more you grow in size, the price you pay becomes less competitive.
Key Features of Buildium
Buildium has several key features to make property management seamless and effortless for its customers throughout their experience.
Leasing
You can start using the app with the leasing procedure. Buildium handles the rental property listing, which includes syndication to Zillow, Trulia, Facebook Marketplace, Craigslist, and Apartments.com.
The service can then be used to accept applications and screen tenants. The app will also make e-signing the lease easier.
If you do not have a website for your business already, Buildium has a feature to assist you in building one.
Operations
Buildium provides an online gateway for owners and inhabitants to manage papers, maintenance requests, and payments. Financial reports can be accessed by owners via the web or a mobile experience.
Accounting
When you own rental properties, this means you are a business owner. You need to do bookkeeping, accounting, and follow your taxes as part of running a business. Buildium has options to cover these, too.
Buildium covers both property and company level accounting for rent and bill payments as well as financial reporting. You can also e-file 1099s for vendor payments.
Plans And Pricing of Buildium
Essential
This is the most concrete and affordable package that begins at $50 per month that allows you to have up to 20 units.
Many services are available, like a la carte. Electronic money transfers cost $1 with this membership package, and credit card transactions take %2.95 commission.
You need to pay a $99 startup cost for each company bank account that receives payments through Buildium.
When you pay the $99 setup fee, property inspections pricing begins at $40 per month, and electronic leases cost $5 each. Basic tenant screening costs about $15.
Growth
This Growth membership offers free electronic payments, and you can have up to five free bank account setups.
You still need to pay a fee of 50 cents for outgoing payments, and credit card processing commission is the same as essential with %2.95.
However, leasing documents are free. There are basic and premium screening options that you can choose from.
You also get live phone help and can pay an additional $150 per month for VIP support.
You can also have intensive knowledge about your renters through performance statistics and analysis, along with property inspections.
The Growth plan’s pricing starts at $160 per month for up to 50 units, and if you want more units, you can get up to 100 units for $210 per month.
From there, the price increases step by step to the maximum of 5,000 units with a price tag of $5,400 per month.
Premium
This subscription package has all the benefits of the Growth package and all of the additional extras.
You will still get charged for incoming payments and credit card processing, but you’ll get more information and insights about your business.
There is also an Open API that gives you extensive access to all your data that is outside the platform, and this is not available with the other membership tiers. Priority phone support is included with the Premium level.
You can also earn Buildium awards. You can save 15% on your annual subscription if 30% of your units pay with a credit card and 30% acquire renters insurance through your Residence Center.
Premium only has an annual subscription package with prices ranging from $4,698 annually for 150 units to $159,000 annually for 5,000 units.
How to start with Buildium
Now, when you want to start with Buildium because you fell in love with its amazing features, it is pretty simple, no credit card required, and no financial stress if you do not like the platform.
- Go to buildium.com and start the signup process.
- Fill in the details it asks of you.
- Take the 15 days of free account to weigh up and down the platform.
- If you like it, pay for the platform later on.
Alternatives of Buildium
Respacio
Respacio is a multilingual cloud-based real estate software for international agents that includes a real estate CRM, property management, marketing, and website management tools, as well as contact, property, and task management technology, as well as websites, portals, newsletters, social media, and other features.
Respect, being a cloud-based system, allows agents to operate from anywhere and access information from their desktop, laptop, tablet, or mobile device.
Preno
Preno is a hotel software firm that provides cloud solutions for independent hoteliers, including a system for property management, channel management, and a booking engine.
Customer Service Buildium
Buildium offers two different ways or three if you are an existing customer to reach out to the customer service to fix your problem or ask your question about their services.
- You can call them at 888-414-1988
- You can send Buildium a message through the contact us form on the website
- If you are already an existing Buildium customer, you can send a message to the help center of your account.
Customer Reviews Buildium
Customer reviews of Buildium are mostly positive, and most people who have used their services were really happy with what they have got.
This is from the different review pages we have compared on the internet.
Cancellation Of Buildium
If you wish to discontinue using Buildium, you will need to terminate your account.
- Go to the account and billing page under Settings.
- Click the Cancel subscription button.
- Fill out the short inquiry in the Cancel Account pop-up window that opens if you wish.
- To cancel your subscription, click the Cancel my subscription button.
Conclusion
Buildium has a lot of positive features. It’s an excellent piece of software for landlords who want to handle their complete investment property management experience online.
The comprehensive tools for managing tenant screening, leasing, documentation, payments, maintenance, accounting, and taxes put everything you need to run your property under one roof.
And you can get to it all from your computer or smartphone. The only significant disadvantage that we can detect with Buildium is the pricing.
For larger property managers, the cost is a drop in the bucket, but for small landlords, it may feel like you’re being slammed with a slew of additional setup and servicing fees.
FAQ
Is there no free subscription package that I can use, or it's only paid?
There is only a 15-day free period, but after that, you must choose a package to continue.
Are the features of Buildium included in the prices?
Depending on the package you choose, some of them are, some of them are not.
Amit is a young entrepreneur who specializes in background checks. After completing his high school certification, Amit spent half a decade trying different background check services. He has worked for several background screening firms and gained valuable industry experience.
Amit is the founder of BestBackgroundCheckSite.com, where he helps all its users navigate complicated decisions about their personal lives and careers.