Buildium is a cloud-based property management software that can help you manage your rental properties more efficiently. It has several features, such as:
Whether you want to automate your workday or go paperless, Buildium has the right tools so you can get back to managing clients and properties in one place.
- Rental management: Track rent payments, generate leases, and oversee tenant communications as part of rental management.
- Maintenance and repairs: Track maintenance requests, schedule repairs, and manage vendors.
- Accounting: Track income and expenditures, produce reports, and file taxes as part of accounting.
- Resident Portal: Residents can view their lease agreement, make maintenance requests, and pay rent through the Resident Portal.
- Communication: Coordinate with owners and residents via mass emails, text messages, and letters.
To use Buildium, you will need to create an account and add your properties. Once your properties are added, you can start using the different features.
Here are some basic steps on how to use Buildium Property Management software:
Register an account: To register, visit the “Sign Up” page on the Buildium website. Distribute bulk emails, SMS messages, and written correspondence to residents and owners.
Put your properties here: Click Add Property after navigating to Rentals > Properties.
Track rent payments: Navigate to Rentals > Rent Payments. You can view all of your rent payments, including the amount due, the due date, and the payment status.
Create leases: Navigate to Rentals > Leases. You can create new leases, edit existing leases, and view past leases.
Manage tenant communications: Navigate to Rentals > Tenants. You can send emails, text messages, and letters to your tenants.
Track maintenance and repairs: Navigate to Maintenance > Maintenance Requests. You can create new maintenance requests, assign them to a staff member, and track their status.
Manage accounting: Navigate to Accounting > Income and Expenses. You can monitor your earnings and expenditures, produce reports, and complete tax filings.
These are just some of the basic steps on how to use Buildium Property Management Bookkeeping software. You can look into a lot of other features. For more information, you can refer to the Buildium Help Center.
Related Topics: AI Property Management Tools
Here are some additional tips for using Buildium Property Management Software:
- Take advantage of the training resources. Buildium offers a variety of training resources, including online tutorials, webinars, and user guides.
- Use the templates. Buildium offers a variety of templates that can be utilized to generate leases, maintenance requests, and other types of documents.
- Customize the software. Buildium offers the ability to tailor the software to suit your requirements. You can modify the colours, typefaces, and arrangements.
- Get help from customer support. Buildium offers 24/7 customer support. They are available by phone, email, and chat.
Key Features of Buildium:
Comprehensive Rental Management.
Consolidate everything you need to run your rentals—receive rent payments, get late rent notices, sign and store digital lease agreements, and make sending messages faster for both you and your tenants.
Service and Repair Coordination
Quickly and effortlessly track your tenant/owner maintenance requests and work orders, assign work to vendors, and prioritise and monitor work order requests while in progress—all with ease with Professionalism and Back on Time.
Robust Accounting Suite
Features of Buildium that keep an eye on income, expenses, and security deposits provide you real-time access to your finances. With Buildium, you can do automated bank reconciliation, tax-ready reports, and easy owner disbursements.
Easy-to-Use Resident Portal
Provide your tenants with an online self-service portal enabling them to make safe online rent payments, make maintenance requests, review lease documents and easily communicate with the property management team.
All-in-one communication centre
Streamline communications with integrated tools for mass e-mails, SMS text messaging, and postal mail. Use custom templates and automated updates to keep residents and owners informed.
Exploring the Benefits of Buildium’s Property Management Bookkeeping Tool:
Buildium is a complete property management solution that provides a variety of features to help simplify and streamline property management processes. Buildium offers a single platform for effective property administration, catering to the needs of landlords, property managers, and associations alike. This article will look at the main advantages of utilising Buildium as a property management solution, highlighting its capabilities and how they contribute to better operations and higher tenant satisfaction.
Efficient rent collection:
Buildium simplifies rent collection by providing tenants with online payment choices. Tenants can simply submit rent payments through secure and user-friendly web portals, eliminating administrative load and assuring timely and accurate rent collection. This function reduces the need for manual tracking, reducing the likelihood of late or missed payments.
Streamlined Maintenance Management:
Buildium’s maintenance management tools enable property managers to quickly track and resolve maintenance requests. Tenants can make maintenance requests using the website, which helps property managers stay organized and prioritize activities. Buildium also allows for good communication among tenants, property managers, and vendors, resulting in prompt and satisfying resolution of maintenance issues.
Automated Accounting and Financial Management:
Buildium includes powerful accounting capabilities for automating financial management activities. Property managers may quickly track income and expenses, create financial reports, and streamline budgeting procedures. The software also allows for online vendor payments and financial statement generation, which reduces human data entry and improves accuracy.
Read More: What is an Accrual Accounting in Property Management?
Comprehensive lease management:
Buildium enables property managers to conveniently manage lease agreements, renewals, and terminations. The platform enables the creation and tweaking of lease templates, which helps property managers streamline the leasing process. Additionally, Buildium uses automatic reminders to notify renters when their leases need to be renewed, which helps to shorten the time between vacancies.
Effective Communication and Documentation:
Buildium provides association boards, property managers, and renters with easy-to-use communication tools. The platform enables centralized document storage, making it simple to save and retrieve crucial files such as lease agreements, insurance certificates, and property-related information. This feature provides quick access to critical papers and improves overall organizational efficiency.
Mobile Accessibility:
The Buildium mobile application enables property managers to maintain connectivity and efficiently oversee their properties while on the move. Property managers may easily reply to maintenance requests, check financial reports, and communicate with tenants using their mobile devices. This accessibility increases responsiveness and enables efficient property management Bookkeeping Practices from any place.
Enhanced Tenant Experience:
Buildium focuses on the tenant experience by providing a self-service platform via which tenants may check their accounts, make online rent payments, and submit maintenance requests. This convenience and openness improve tenant satisfaction and retention. Buildium improves tenants’ entire renting experiences by delivering an easy-to-use and accessible platform.
Buildium is a robust property management platform that streamlines operations, improves communication, and increases overall efficiency. Buildium’s features include online rent collection, streamlined maintenance management, automated accounting, and full lease management, allowing property managers to effectively manage their properties while providing an exceptional tenant experience. Enhanced mobile accessibility and a centralized document storage system enhance operational efficiency and responsiveness in property management. Property managers may use Buildium to streamline their procedures, decrease administrative responsibilities, and provide a seamless and gratifying experience for both themselves and their tenants.
Property Management Accounting Services
How Much Does Buildium Cost? Full Pricing Breakdown
Buildium’s pricing is based on the number of units you manage and includes a tiered pricing system.
- The Essential plan costs $55 a month and is designed for small landlords who require standard functionalities, such as accounting capabilities, a tenant portal, and limited maintenance management.
- For property managers expanding their portfolios, the Growth plan starts at $174 per month and provides additional resources, including eLeases, an onboarding specialist, and performance analytics.
- This type of customization is necessary if you have a large operation and need more than the Professional plan that Buildium also offers (a Premium plan that has custom pricing and access to features like an open API, priority customer support, and expanded integration).
- Along with these core plans, Buildium offers several add-ons and potential additional costs. For example, eLeases are $5/lease, and there are ACH/credit card charges for online payment processing.
If you want to use Buildium’s mail service, there is a per-letter mailing fee. Please be aware that the general pricing may change according to the units you manage and the particular functions you prefer in each plan.
Buildium vs. AppFolio vs. Rentec Direct vs Yardi Breeze
Here’s how Buildium compares to top alternatives:
Feature |
Buildium | AppFolio | Rentec Direct |
Yardi Breeze |
Price Starts |
$55/mo | $280/mo | $45/mo | $100/mo |
Free Trial |
Yes | No | Yes | Yes |
Mobile App |
Limited | Full-featured | Good |
Robust |
HOA Support | Yes | Yes | Yes |
Yes |
Integrations |
Few | Many | Limited |
Moderate |
Best For |
Small- to mid-size managers | Large portfolios | Budget-conscious managers | Full-service firms |
Use Case Examples:
- Buildium: Best for residential property managers with 50–500 units
- AppFolio Pros: Better for larger property management firms managing 500+ units that want very deep automation
- Rentec Direct: Good for individual landlords or small, light portfolios
- Yardi Breeze: Best for commercial and HOA-centric managers
Buildium Integrations & Extras
- Integrations: Buildium integrates with the following third-party applications:
- QuickBooks: For a step up in accounting possession
- It is possible for residents to pay their rent with cash at participating retailers through the PayNearMe program.
- Property Meld: Makes maintenance and vendor scheduling easier
- CRM integrations: Some CRM and lead-tracking software can be connected through Zapier or API access (Premium tier)
Buildium Pros and Cons
Pros
- Easy-to-use interface
- Dependable accounting and finance resources
- Useful tenant portals and owner dashboards
- Strong document and lease management
Cons
- The mobile application is more fundamental than the desktop version.
- Less native integrations than competitors like AppFolio
- Some features are blocked behind premium levels
Buildium Frequently Asked Questions (FAQ)
Can Buildium accommodate my properties?
Buildium is a commercial, residential, student housing, homeowner’s association, and mixed-use property management company.
Does it work with HOAs or commercial properties?
Yes. Buildium is capable of handling HOAs and small-to-mid-sized commercial units.
Does Buildium do accounting and tax filings?
Yes. Buildium also offers some added functionality, like the ability to record income and expenses and create reports for taxes.
Does Buildium do bookkeeping?
Absolutely. It includes a general ledger, bank reconciliation and expense tracking.
Can you write journal entries in Buildium?
Indeed. It is also possible to manually enter diary entries and make changes to them.
What are the Buildium account types?
Buildium offers several account types: operating account, security deposit account, reserve account, and owner draw account.
Final Thoughts
Buildium is a flexible, Web-based cloud solution for property management by professionals to effectively manage your property and community, streamline your maintenance practices, and help promote better tenant relations. It may not have all the integrations and mobile features of the larger platforms, but it’s still a fantastic option for small and medium portfolios.