Buildium Review - why 4.5 stars?

Shlomi Lavi / updated: Mar 07, 2022

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What is Buildium?

Buildium is a property management solution based on the cloud, built for the real estate industry. The software is fitted with several tools to help real estate professionals perform actions like approving lease applications, monitor property, and attend to maintenance issues. Some notable features Buildium is equipped with are discussed below:

• Accounting: Buildium helps real estate professionals organize property accounts, make and receive payments, process cash payments, and monitor company financials.
• Business Operations: Buildium provides solutions to property managers to oversee essential business operations from one platform. The software offers an accessible API for integration with external applications and data, as well as a resident website, cloud storage for documents, property assessment, insurance, and analytics.
• Leasing: Buildium connects estate owners and managers to tenants. The software provides solutions to streamline the leasing process, such as eLease, tenant application and screening, tenant management, and a free custom-built website.
• Benefits Tab: Buildium also provides real estate professionals with data security, onboarding and support channels, and educational resources.
• Community Association Management: Buildium features tools for community managers like tracking logs for homeowners, payments processing, communications tabs, and secure document storage.

Buildium serves professionals in estate management, homeowners, tenants, and community association managers. Estate managers supervising units between 1-5000 can use Buildium. Buildium was established in 2004 and is headquartered in Boston, Michigan. The employee size is between 200-500, and customers from over 50 countries use Buildium. Buildium has made the Deloitte Technology Fast 500 List four times in a row, from 2015 to 2017.

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Who is it best for?

Buildium is best for small and medium residential properties where people want efficient work and productivity using less resource. It can handle all the accounting work and property management tasks to help you focus on growing your business instead of getting busy with accounting. A Plus Property Managers, Inc., Summit Land Development and Annapolis Property Services are the clients of Buildium.

Main features and functionalities

The residential property supervisors or owners can locate it challenging to concentrate on growing business if they get busy with bookkeeping reports as well as managing regular things. That is where Buildium can help them.

It can handle the daily everyday house management things to aid you concentrate on expanding your business. The on the internet rental applications, rental listing submission, free advertising and marketing web site as well as credit score and history monitoring feature makes certain you locate much better renters to fill vacancies.

The general ledger audit feature, repayment monitoring and fees, on-demand reports and also e-payment function makes certain you do not reach do any calculation. All the everyday stuff like tracking occupants and lease and printing as well as mailing kinds can be done using this software so you do not get to do any of them practically.

Tenants can request for upkeep online and also upkeep team can be appointed to deal with the work right from the tool. Additionally, you can produce owner portals for renter and owners where they can obtain access to their essential information straight.

What is the actual cost?

Buildium software offers three subscription plans- the Essential package, which starts at $50 monthly, the Growth package, starting at $160 monthly, and the Premium package, starting at $460 monthly.

The Essential package is ideal for small-scale estate managers. Essential package offers a free marketing website, client leads (extra fees apply), basic tenant screening, eLeases ($5 per lease), online payments, and bank account (one) setup, property inspections ($40 monthly), and ticket support.

The Growth package starts at $160 a month and is ideal for growing estate management firms. The Growth package offers all the features of the Essential package at better rates. Special tenant screening, infinite eLeases, up to five bank account setups at no cost, free property inspection, and less expensive transaction fees. Also, additional features like live phone support, standard reports, and performance analytics and insight are available, with onboarding and priority support available for purchase.

The Premium package is ideal for established large-scale property management firms. In addition to improved pricing on the features of the Growth package, the Premium package offers more features. Limitless support (live, priority, consultancy), industry analytics and insight, and an open application programming interface.

ITQlick pricing score is 2.8 out of 10 (10 is most expensive). Access ITQlick pricing guide for Buildium. You can also find here pricing information from Buildium's website.

Pros

• Buildium supports API integration
• The software is easy to use
• Buildium comes with excellent customer service
• The software providers pay attention to regular software updates
• The software offers a video tutorial for first timers to make sure you find all the features promised by the company

Cons

• Buildium users sometimes experience bugs and occasional interface freezes
• The software does not offer 24-hour support
• The user interface is specifically designed for residential property management needs and is not good enough for commercial properties
• The tool doesn't offer CRM functions in the accounting solution which means you have to do CRM differently
• The software doesn't support breaking down reports into a single unit from multi units

How it stacks up?

Access a head to head analysis of Buildium vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is Buildium right for you or your business?

Buildium serves a clientele of retail and large-scale estate owners, estate managers, and community association managers. The software provides solutions across over 50 countries and has a customer base of at least 15,000. Some notable customers include Suffolk Property Management, Grant Property Management, Essential Property Management, et cetera.