Buildium Review

Buildium
Product:
Vendor:
Founded:
Headquarters:
Buildium
Buildium
2004
Boston, MA
Ownership:
Customers:
Deployment Model:
Free Trial:
Private
12,000+
Cloud
Yes
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Buildium At A Glance

Good: Mobile apps accessible for both owners and tenants, dedicated resident portal where tenants can pay rent, end-to-end leasing process.
Bad: Primarily focused on residential properties, accounting features not always user-friendly.
Bottom Line: Easy-to-use cloud-based solution built by property managers for property managers.

Product Overview

Buildium is a cloud-based property management software designed to help property managers and homeowners’ associations find new tenants, manage their businesses and increase revenue. It also has benefits for real estate firms that want to add property management to their list of services.

Buildium provides other benefits, such as:

  • Intuitive web portal
  • Global search feature for ease of searching for information on tenants, leases and more
  • Unlimited user access regardless of pricing plan selected
  • Mobile apps designed for iOS and Android

Features

Buildium has many accounting, operations and leasing features. We’ve listed them below:

Accounting:

  • Ability to mange accounting and financials, such as rent from tenants and bills from vendors
  • Option for tenants to pay rent online
  • Ability to set up automatic payments for recurring expenses
  • 1099 eFiling
  • Over 50 financial reporting templates (e.g., balance sheets, income statements)

Business Operations:

  • Mobile portal for tenants to request maintenance and pay rent
  • Mobile portal for property managers to access financial reports, share documents and communicate with landlords/tenants
  • Management/storage for leases and other documents
  • Work order tracking, as well as scheduling recurring maintenance and paying vendors
  • Renters Insurance Plus, a program that tracks which renters have insurance and allows them to enroll in a renters’ insurance program
  • Integration with Happy Inspector, a mobile app, for conducting property inspections

Leasing:

  • Personalized marketing website listing rentals
  • Accepting rental applications
  • Sending communication to owners and tenants
  • Sharing rental listings on Buildium’s partner sites, such as Lovely, Apartment List, Craigslist and Zillow
  • Background screenings (credit, criminal and eviction) on tenants
  • Setting custom credit score requirements to accept or reject tenants
  • Ability to track leasing process and collect signatures with eLease

Buildium also offers features dedicated to homeowners’ associations, such as role-based permissions for board members and the ability to collect payments online, monitor maintenance requests and track violation histories.

Buildium has additional tenant screening features as options available in either a Premium or a Basic plan.

For companies that manage more than 100 units, Buildium offers its Premium tenant-screening plan. The Premium plan includes features such as initiating screening without any action from an applicant, quick reports and requirements for accreditation for property managers. These features are in addition to credit, criminal and eviction screenings.

Companies that manage fewer than 100 units can select the Basic plan that covers just the reports on credit, criminal and evictions, as well as the ability to create customized credit score requirements to indicate acceptance or rejection of an applicant.

  • Accounting & Financials?
  • Lease Management?
  • Maintenance Management?
  • Mobile?
  • Owner Portal?
  • Rental Listings?
  • Tenant Portal?

Target Market

Buildium is targeted to companies that manage residential properties and homeowners’ associations. It has been used by over 12,000 property managers and 850,000+ residents in 46 countries.

We’ve listed 10 of its customers below:

  • Ace Mulligan Homes
  • Annapolis Property Services
  • BBA Management
  • CoSine Real Estate
  • Discovery Bay Holdings
  • Elite Real Estate and Property Management LLC
  • Impulse Property Management
  • The Property Managers
  • Vantage Heights HOA
  • Wexford Property Management

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Implementation/Integration

Because Buildium is hosted in the cloud, clients only have to pay either a monthly or annual subscription fee.

Clients get a 15-day free trial. Once they sign up, they’ll get a dedicated Onboarding Specialist to guide them on how to use Buildium.

Buildium also offers one-on-one training that can be completed in less than 30 days. The training focuses on setup coaching, Buildium essentials and customized features.

In addition, Buildium provides data migration services.

Customer Service & Support

Users have access to a knowledge base where they can find troubleshooting guides and FAQs. They can also submit support tickets from their Buildium portals or contact Buildium by phone Monday to Friday from 9 a.m. to 8 p.m., EST.

Pricing

Buildium provides two scalable pricing plans: Core and Pro. For a company that manages 100 units, the Core plan costs $150 a month, while the Pro plan costs $200 a month. The pricing is based off of the number of property units a company manages – for our purposes, we’re using the 100-unit scenario as an example.

The Core plan covers these standard features:

  • Property accounting
  • Company financials
  • Dedicated portals for tenants and property owners
  • Document management
  • Maintenance request/work order tracking
  • Renters insurance
  • Rental listings and applications
  • Customized website

Here are some of the optional add-ons to the Core plan:

  • Online payment (Buildium charges a $99 ePay setup fee plus 50 cents for each electronic fund trasmission)
  • $15 per basic tenant screening
  • 1099 eFiling ($25 per batch)
  • Check-printing service ($30 setup fee plus 80 cents per check with postage; in-office checks are free)
  • Letter-printing service (80 cents per one-page mailing)

The Pro plan covers the above features as well as:

  • No ePay setup fee for online or credit card payments
  • Free setup and unlimited property inspections services
  • Free setup for remote check printing
  • Access to Premium tenant screenings for $18 per person

Shortcomings

Buildium is primarily focused on residential properties, so it’s not ideal for commercial property management.

Also, users have mentioned that its accounting features aren’t always user-friendly.

In addition, Buildium is only offered in the cloud, and there’s no on-premise option.

Screenshots

Buildium Screenshot 1
Buildium Screenshot 2
Buildium Screenshot 3

About

Two property managers founded Buildium in 2004 as a way to help companies and landlords manage their properties better. Its mission is to put customers first, as well as be supportive and flexible, and engage in open communication.

It has made the Inc. 5000 list for four years in a row (2012 to 2015) and it’s also won the 2015 Gold Stevie Award for Sales & Customer Service.

In 2015, Buildium acquired All Property Management, a website dedicated to helping landlords find a local professional property manager.

Headquartered in Boston, Buildium has 180 employees and additional locations in India and Winthrop, WA.

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Send feedback or corrections to feedback@betterbuys.com.

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