Budgetrac Property Review - why 3.8 stars?

Shlomi Lavi / updated: Jun 24, 2022

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What is Budgetrac Property?

Budgetrac Property management software is comprehensive, cloud-hosted property management & accounting solution tailored for commercial properties including the industrial, retail and office. The platform allows organizations to manage various aspects of property management including space management, lease administration, expense recoveries, correspondence management and more.

It helps to share real-time data across companies using role-based dashboards and homepages with vital date notifications. Budgetrac Property management is a product of Budgetrac Systems, a company established in 1982 in the US.

Some core features of Budgetrac Property management include database-wide searching, rent, vacancy and receivables tracking, and electronic order generation among others. The software incorporates an in-built CRM feature that allows the property managers to promptly communicate with the internal team and the tenants. It offers support during business hours and through online channels.

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Who is it best for?

Budgetrac Property Management Software is perfect for all types of property owners and real estate developers. The software offers lease-based system for multiple units per lease and also supports user-defined parameters for properties, spaces and buildings. The software is specifically designed to meet the needs of property managers or real estate developers throughout North America.

Main features and functionalities

Budgetrac Property Management Software offers lease-based system with attractive features like financial reporting, expense recovery, retail and project costing. All the lease information can be stored online and users can keep track of ownership, leasing agents, appraisals, insurance and more online.

The property management part of this software offers automatic rent step-ups, automatic CPI rent increases, virtually unlimited user-defined reports, application of cash receipts and more. The financial reporting part features integrated general ledger with project control support and cash management to help users keep up-to-date balances and maintain a detailed audit trail.

The expense recovery feature of this software can help users to track accurately and recovery of all usual maintenance expenses by offering virtually unlimited user-defined expense pools, maintaining history of all estimate and reconciliation calculations including adjustments and more.

The retail tracking can help users to keep track of all relevant information needed to manage rent for retail leases. You get to manage multiple leases, track various properties and do custom reporting for any accounting period.

What is the actual cost?

The cost of license starts at $1,600 per user/year. ITQlick pricing score is 4.4 out of 10 (10 is most expensive). Access ITQlick pricing guide for Budgetrac Property. You can also find here pricing information from Budgetrac Property's website.

Pros

• Budgetrac Property Management Software can be used by all types of property owners and real estate developers
• Budgetrac Property Management Software offers training based on timeline, objectives and budget of users
• The help desk of Budgetrac Property Management Software offers on-line FAQs, knowledge base, downloads and a portal where support requests can be submitted
• The property management software offers data conversion to help users move to Budgetrac from their existing property management system
• The property management tool offers both on-premise and online (web-based) deployment options

Cons

• Budgetrac Property Management Software’s on-premise version is only compatible with Windows and doesn’t support Mac, Linux or IBM OS
• Budgetrac Property Management Software doesn’t offer any mobile dedicated app for iOS or Android devices
• The help desk of Budgetrac Property Management Software doesn’t offer any live chat or 24x7 hour phone support
• The property management software doesn’t offer online payment system like other similar tools
• The property management software doesn’t support creating portals for property owners where they can check property status directly or access to other property information

How it stacks up?

Access a head to head analysis of Budgetrac Property vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is Budgetrac Property right for you or your business?

Budgetrac Property management software offers comprehensive property management & accounting solution meant for all commercial properties including the industrial, retail and office. It is tailored to handle all the aspects of property management in medium businesses, as well as large enterprise. Land Developers, Real Estate Developers, Commercial Property Managers, and Home Builders, can all use Budgetrac Property management solution.