Buildium is a great option for property managers looking for advanced accounting features and analytics, as well as responsive support and API access to create custom integrations.
Buildium is not recommended for property managers who have less than 20 units and need enhanced tenant screening or property inspections.
Buildium is an online property management system that allows businesses to manage rental properties in more than 50 countries.
Buildium allows businesses to manage up to 5000 rental properties, including residential, commercial and affordable housing.
This software has features such as online rent payments and maintenance management. The software has a number of unique features, including accounting tools that are designed for the purpose and a marketing website where listings can be displayed.
| Pros | You can also find out more about Cons |
| No minimum unit countAutomated accounting, collection, and paymentCustomize your own marketing websiteBoth commercial and residential properties can benefit from this productData Migration AssistanceiOS, Android mobile appComplete bookkeeping and accounting capability including 1099sEmail templates – Send messages in bulk or individually with the Email Center | Additional charges include feature setup fees and item costsBanks charge a set-up fee for bank accountsBasic plan does not include live supportUser reviews report unsuccessful onboardingUsers report problems with accounting features |
Our Ratings
| Usability 6.8 | The search feature is very helpful. Some tasks, such as onboarding tenants, are overly complicated and difficult to navigate. Most tasks require a trip to the help centre. |
| Support – 7.4 | The Help Center has a lot of helpful guides and resources, but it can be a little difficult to locate the right one. Phone support is only available to higher-tiered users. |
| Features 8.7 | This product includes all the basic features of property management. It is a mobile app that has a slightly different experience. With significant training, this product can accomplish all property tasks. |
| Security 8 | Multi-factor authentication, export of most data. User access types can’t be removed from the software if they’re in use. In 2020 hackers stole 10.5 millions dollars from RealPage . |
| Value: 7.5 | The Essential plan does NOT include phone support. Onboarding is required by Growth and Premium plans, but is not included in the base price. |
| Performance – 7 | The navigation is sometimes slow; repetitive tasks can be difficult to complete, especially if you are a newbie. |
| Key Features 8.8 | Rent payments can be monitored through alerts and dashboard views. I can also view and save descriptive information about properties and tenants. |
Add New Properties
It’s easy to add new properties. Then I clicked on “Properties” under “Rentals”. There is a green “Add property” button at the top of the screen. Clicking on the button allowed me to enter all of the information I needed to register a new property.
- Property type
- Address
- Property Owner
- Primary bank account
- Property Reserve
- Primary Manager
- Units and their details
Click the Edit button to edit the information about the property.
You can now find all the information you need on your new property page by using tabs.
- You can read more about it here:
- Financials
- Units
- Tasks
- Event History
- Notes
- Files
- Vendors
This tab shows income statements, settings for lease payments, management fees, and locked period. You can select to view the income statement in cash or accrual.
Renting New Tenants
The process of onboarding a new resident was not clear to me, so I went to the help center for guidance. The help center provides several guides, including step-by-step instruction and a recording of the entire process.
- New leases can be created
- Add a tenant to an existing lease
- Add a tenant to an existing rental
How to add a tenant to an existing lease
- Click Rentals > Applicants.
- Choose the applicant’s first name.
- Press Move in after changing the status to Approved.
- Click Add to Lease to select the lease to which you wish to add the new tenant.
How to add a tenant to an existing rental agreement
- Click Rentals > Rent roll.
- Choose the lease to which you wish to add the tenant.
- Click the Tenant tab on the Lease Summary page.
- Click on Move in Tenant.
- Select Add a New Tenant.
The buttons that users have to click may not be intuitive, and this can make it difficult for them to remember the process. These guides would need to be bookmarked so I could refer to them every time I needed to add a new tenant.
Rent collection: Managing the Collection
Set up a bank to receive and send money before you can manage your business’s rental collection. Buildium charges $99 for each bank account under the Essential plan. However, the first five accounts are included in the Growth and Premium Plans. If you have a large number of bank accounts to create, the inclusion of these fees in one or both higher-tiered Plans may be worth it.
Buildium charges $1 for each incoming EFT transaction and $0.50 for each outgoing EFT. It also charges 2.95% on credit card transactions. The fees are waived for the Growth and Premium Plans.
There are no easy buttons for rent payment features like receiving payments or issuing credits. Refunds and withholding deposits can also be done without any problem.
Clicking on Rentals > Rent Roll > Receive Payment allowed me to request payment. Then I could select the resident, the date, the amount, and payment method. This payment will be applied to the outstanding balance of the tenant, which I had to spend a few minutes trying to understand.
Payments made electronically are processed within 1-2 business day.
Buildium’s dashboard lets you see outstanding balances, so you can know exactly how much you owe and to which tenants.
Maintenance Request Portal
Users can access “Vendors”, “Work orders”, and “Maintenance” pages by clicking on the Maintenance tab in the left-side menu. Sorting options include property, status and other filters.
Click Maintenance > Work Orders > Add Work Order to create a new order.
Select fields and enter details to the work order.
- The Subject
- Property
- Appliance
- Categories
- Vendor
- Invoice number
- Charge work to
- Entry permitted
- Entry Contact
- Work to be done
- Parts and labor
- Vendor notes
- Assign to
- Status
- Due date
- Priority
- Attachments
You can update, print, or delete the work order after it is created.
Exporting work orders to PDF allows users to print simple or detailed work orders. Simple and detailed work order differ in that detailed work orders also include a status history.
Pricing Plans
| Plan | Pricing | Features |
| Essential | Starting at $52/month for the first 20 units or $562/yearMaximum 150 units | AccountingMaintenanceOnline PortalsMobile appsWebsite MarketingStandard ReportsTickets Support |
| Growth | Starting at $166/month for the first 50 units or $1,793/year | The Essential FeaturesBusiness Analytics & InsightsLive Phone SupportOnboardingNo fees for incoming EFTThe first 5 bank accounts are freeSign up for unlimited E-signaturesProperty Inspection Fees IncludedThe Enhanced Tenant Screening is available for an additional fee of $18 per tenant.Fee for Showings Coordinator Setup Waived |
| Premium | Starting at $5,172/year (annual subscription only) for the first 150 units | All Growth FeaturesOpen APIDedicated Growth ConsultantPriority Support is Free |
Growth and Premium plans have lower or no additional charges for the Essential plan. These fees can include EFT payments received, the setup of a bank account, the Showings Coordinator, and property inspections. The additional fees may be enough to justify upgrading your plan.
Buildium has been around for how long?
Buildium is a company that has been around since 2004. Michael Monteriro, Dimitris Georgakopoulos and Dimitris Monteriro were both property managers who felt that they wasted too much time in spreadsheets. The idea to create software that would solve their problems was born.
Buildium is good for accounting.
Buildium offers a number of basic functions similar to QuickBooks along with features that will help you manage your properties and residents.
Buildium’s templates and dropdown menus make it easy to record different types of income and expenses for the properties or associations you manage. You can also view and edit well-organized financial data for each property and its owner, vendor, client and customer.
Buildium uses what credit bureau?
Buildium sends the history of rent payments to Equifax TransUnion and Experian.