This review will go over Buildium to see if it really is the best property management software out there.
In fact, if you’ve chosen to invest in real estate, or if you’re already a landlord, you understand how difficult the job may be. It’s a lot of work for one person to do, but hiring help will be expensive.
To make your work easier, I decided to try a popular property management software and wanted to share my Buildium review with you.
And at the end, you’ll find answers to some of the most frequently asked questions regarding Buildium and real estate in general.
So, let’s get started…
But most importantly, you’ll see the exact system many others have used to build their own internet marketing business to over $40,000 a month in mostly passive income.
This system made them swear off real estate for good, because it uses some of the same skills but in a much more powerful and profitable way!
With so many different types of property management software available, it may be difficult to know which one performs what. Buildium has been around since 2004 and is a cloud-based program. Two landlords named Dimitris and Michael built the program to make their work easier and offer them total control over their homes.
Today, I will go over everything Buildium can accomplish and why it’s one of the greatest property management software options available today. After reading my in-depth evaluation, you can have an informed decision to ensure it’s the appropriate program for you! Let’s go through what this program is capable of.
Buildium is a fantastic choice if you don’t have much expertise with technology or don’t have the time to learn how to utilize sophisticated tools. It’s really simple to use and navigate. On a dashboard, you can see all you need to know.
The program is also relatively easy to install, and if you run into any problems, you can always contact their friendly and professional customer care team. After you’ve installed it, you’ll be able to take a guided tour of the software.
This tour teaches new users all they need to know about Buildium. It will point out all of the features and what you can do with them. My favorite aspect of the guided tour is that it is available whenever you need it and that you may retake it at any moment.
The option to screen tenants is another wonderful feature of this property management software. It is critical to thoroughly screen potential tenants. It not only protects your properties, but it also guarantees that you will get rent from them on schedule each month.
Buildium is software that has been broken down to be incredibly simple to digest and learn how to use, whether you are screening a new renter or collecting late fines for rent. However, you may be wondering how much money you will have to spend on software like this.
Below, I go into great depth on how Buildium charges and what features you may add on.
So, what else do you receive in exchange for your money?
Buildium will assist you with collecting rent, sending out any work orders you have, keeping track of all sorts of reports, and keeping all of your papers filed and organized, in addition to tenant screens and accounting support.
Buildium includes a built-in academy, which you won’t find in any other property management software.
What exactly is it, you ask?
On the other hand, the school provides classes that will teach you all you need to know about this program.
You’ll even discover property management tips and tricks. The academy is extremely well-organized, and you will find thorough course explanations and tests throughout each course.
Buildium, like any other property management software, isn’t flawless. I’d want to share the software’s major flaw with you so you can decide whether it’s a deciding factor whether you select Buildium over another choice or not.
The primary disadvantage of this program is that it is not mobile-friendly. When I say that, I mean that it does not perform well on mobile devices, but the business has recently released an app for iOS and Android smartphones that may remedy this shortcoming!
The software may be used to complete routine chores such as filing payments or amending work orders while on the road. Because the actual website isn’t the greatest on mobile web browsers, the app is fantastic.
You should be able to utilize it w/o any problems, but if you’re a landlord or property owner who relies heavily on your phone on the job, it may influence how you utilize the program on the go!
Buildium is explicitly designed for all forms of residential property management and is used by over 4,000 professional association managers who manage over 300,000 association units. Buildium is an all-in-one software that helps you enhance communication, boost operational efficiency, and maximize financial resources whether you manage rental properties, condominiums, or homeowners associations.
Buildium has several tools that help to expedite the property management process at every stage.
The app’s use might begin with the leasing procedure. Buildium manages the rental property listing, including syndication to Zillow, Trulia, Craigslist, Facebook Marketplace, and Apartments.com. The service may then be used to accept applications and screen renters. The software will also make e-signing the lease easier. Moreover, Buildium can even assist you in creating your own website if you don’t already have one.
Screening is a critical but frequently ignored procedure for landlords to secure their homes and profits. The Buildium screener provides access to credit, criminal, and eviction records, allowing you to determine whether or not an application is a good fit for your property.
Buildium provides an online interface for residents and owners to handle paperwork, maintenance requests, and payments. Owners can access financial reports via the web or a mobile experience.
Maintenance requests are among landlords’ worst fears, especially when they appear to be an emergency repair needed on Thanksgiving or New Year’s Eve. You may accept maintenance requests from the owner dashboard, produce work orders, and submit requests straight to suppliers.
You’re a business owner if you own rental properties. Bookkeeping, accounting, and taxes are all aspects of running a business. Buildium has you covered there as well. The program covers a property- and company-level accounting and financial reporting, as well as rent and bill payments and the ability to e-file 1099s for vendor payments.
When tenants pay online using the renter portal, the funds are put immediately into the renter’s selected payment method. Payments are automatically sent to the general ledger, where they are recorded for accounting purposes. Buildium includes around 50 distinct reports that are beneficial to property owners and investors.
Buildium price depends on the number of units you manage. There are three price tiers as well: Essential, Growth, and Premium.
The most affordable pricing level begins at $50 per month for up to 20 units. Many services are available on an à la carte basis. Electronic money transfer (EFT) payments cost $1 with an Essential membership, while credit card transactions cost 2.95 percent. There is a $99 startup charge for each business bank account that receives payments. Property inspections begin at $40 per month with a $99 setup charge, while electronic leases are $5 each. The cost of basic tenant screening is $15.
The monthly cost is determined by the number of units you need to manage. Essential costs $65 per month for 21–40 units, and the monthly charge rises to a maximum of $235 for 141–150 units. The Essential membership does not allow you to manage more than 150 properties.
Growth offers free ETF payments and up to five free bank account setups. Outgoing payments are still 50 cents, and credit card processing is 2.95 percent. However, leasing paperwork is free.
There are both basic and premium screening options. You also receive live phone assistance and may pay an additional $150 per month for premium service. You may also gain insight into your inhabitants through performance statistics and analysis, as well as property inspections.
The Growth plan begins at $160 per month for up to 50 units and goes up to $210 per month for up to 100 units. From then, the price gradually rises to a maximum of 5,000 units at $5,400 each month.
The Premium subscription contains all of the benefits of the Growth level as well as additional extras. You’ll still be charged for incoming payments and credit card processing, but you’ll gain more data and insights about your business.
An Open API also allows you to access all of your data outside of the platform, which is not available with the other membership tiers. Priority phone assistance is included with the Premium level. You can also earn Buildium awards.
You may save 15% on your annual membership if 30% of your units pay with a credit card, and 30% get renters insurance via your Residence Center. Premium is only offered as an annual subscription, with prices ranging from $4,698 per year for 150 units to $159,000 per year for 5,000 units.
Buildium provides extra services for a charge. Renters insurance is offered for a monthly fee of $12 per tenant. Moreover, Buildium can print and send checks for you for a $30 setup charge and 80 cents for each check.
The cost of submitting 1099 forms is $3 for each form + $25 per batch. Buildium charges 80 cents for one page of mail, plus 15 cents for each subsequent page.
While Buildium has numerous functions, the price does not end with the monthly membership. The platform adds setup and use fees for various services. This makes Buildium appear less appealing to smaller businesses.
Thousands of property managers use AppFolio and Buildium as all-in-one property management systems to automate repetitive processes and enhance operational efficiency.
Both platforms provide the essential features required for property managers, such as automated property listing syndication, automated payment collection, tenant screening, maintenance management tools, and accounting and reporting modules.
AppFolio also comes with nearly the features Buildium offers.
Buildium is likely your best option if saving money on your monthly software subscription is important. It is generally 10-20% less expensive than AppFolio. If sophisticated features like AppFolio’s AI leasing assistant and 24/7 maintenance contact center are essential to you, you’ll probably choose AppFolio.
Buildium is a fantastic product for small to medium-sized residential property management companies (10-100 units).
Every time you visit Buildium online portal, it is encrypted (technically, it is done using TLS with a 2048-bit certificate signed with SHA-256). Furthermore, all of your data is stored in a real data center that is managed by Amazon Web Services (AWS) specialists.
As one user put it, “It’s simple and effective. Buildium reports are useful. This program is fantastic for everything from uploading properties and renters to regular use. It is simple to keep track of renters, maintenance, and bank accounts.”
For smaller landlords, Buildium may not be cost-effective. However, for larger companies, it may be the ideal answer for management requirements.
Buildium is a cloud-based property management program that allows managers of residential and association properties to oversee every element of their business, whether in the office or completely remote, including online rent and payments, maintenance cycles, vacancy management, and accounting.
Here’s how you make online payments:
1. Go to Accounting, then choose Bills.
2. Choose the bill to be paid.
3. Make a Payment by clicking the button.
4. Under Allocation Method, choose Manual.
5. Clear Payments should be clicked.
6. Enter a specific payment amount for each line item.
7. Confirm Payment by clicking the button
Buildium is explicitly designed for all forms of residential property management and is used by over 4,000 professional association managers who manage over 300,000 association units.
Buildium is an all-in-one software that helps you enhance communication, boost operational efficiency, and maximize financial resources whether you manage rental properties, condominiums, or homeowners associations.
As of September 2021, Buildium has 267 employees.
Buildium is a property management software business established in 2004 and is based in Boston, Massachusetts.
Yes, you can make money with rent payments.
There’s a lot that comes along with real estate that many people struggle with.
Now, don’t get the wrong idea…
It’s not impossible to make money with real estate, but if you’re gonna put in the amount of grueling work to do this business (which, trust us, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.
The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.
Buildium is not a scam. It can help you manage commercial properties through its dedicated project management.
It is entirely possible to build a profitable, successful real estate business… But there are better ways to build a business other than with real estate.
Because unlike Buildium, it actually provides real proof of real success from real people as recently as a few days ago.
Buildium is a legit property management company.
But, when it comes to building a business, you have plenty of options.
And even if you’re dead set on becoming a real estate investor, you’ve got way better options than Buildium.
Keep in mind, we don’t get paid to promote any of the programs we review. We personally think real estate is a great business model, but you could end up leaving way too much money on the table.
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, it’s all digital.
With digital real estate, you have the opportunity to completely walk away from your 9-5 job!
Sound too good to be true?
Of course it does!
But it isn’t… in fact, business owners wish they had this skill!
What exactly is the skill?
Well, basically you are acting as a conduit for small business to increase their bottom line.
What we mean is…
You are helping these businesses grow!
All you have to do is build and rank a website and forward certain jobs off to a business owner in town, you could even email it to them!
This works for literally any service based business… ie: window cleaning, tree service, plumbing, towing, etc.
With Local Lead Generation, you will be getting service requests from multiple sites at every minute of the day from people who are willing to pay a lot of money for what you can provide them.
I was watching a YouTube video once where the host made a comment that it isn’t about making a lot of money from one website… it’s about making a little bit of money from lots of different websites.
So, think of it this way….
What if you could have streams of investment income where you operated 10 rental units that you could charge anywhere from $750-1,000 per month?
That’s $7,500-10,000 per month in passive income!
What If You Invested Into 100 Rental Units?
But instead of spending $Millions to build houses or apartment complexes… you spend a couple hundred dollars to build websites.
You then get those websites ranked in the search engines for specific home-based services that customers are searching for.
Next, you offer your lead generation system to local business owners who are looking for customers and are willing to pay you for their information.
You’ve just created a Digital Real Estate Investment Empire that is potentially earning you 4-5 figures in PASSIVE INCOME on a monthly basis without spending a single dime on ads.
With conventional digital real estate, you have to compete with thousands, if not millions of others who are selling the SAME product to the SAME customers.
With Local Lead Generation (Digital Real Estate), the competition is virtually nothing and your profit margins are 85-90%.
Now, I could go on and on, but I’m sure you have tons of questions about how to create Digital Real Estate assets and start building YOUR digital empire!