Buildium is a property management software with an integrated accounting system. It is ranked as our best tenant screening software, earning a 5 out of 5 rating. We arrived at this score based on various weighted evaluation factors, including ease of use, help and support, customer reviews, and features such as tenant screening, listing syndication, online rent collection, and maintenance requests. 

Buildium reviews and our analysis found that it is best for landlords looking for a single system to connect multiple areas of operations.

Buildium overview

Pros

• Automate recurring rent payments to minimize late payments and streamline collection tasks
• Integrates with banks for financial visibility
• Automatic monthly reconciliation following generally accepted accounting principles
• 14-day free trial

Cons

• Limited listing marketing tools
• No dedicated customer relationship management (CRM) tools for lead management
• Additional fees if you want onboarding support
• Portfolio performance and analytics are only available to Growth and Premium plan subscribers

The Close Score

5

Customer rating

4.5

Expert score

4.3

Pricing

3.5

Features

4.6

Ease of use

5.0

out
of

5

Buildium reviews: What users think

Score: 4.5 / 5

Buildium property management software reviews show that users appreciate its online rent payment function, maintenance request feature, and the ability to get a ledger for court filings and tenant evictions. One user said he’s most impressed with Buildium’s wide range of functionalities—from accounting and leasing to communication and mobile apps. The software has everything a landlord or property manager needs to manage their portfolio effectively.

• Capterra: 4.5 out of 5 based on 1,969 Buildium reviews
• Software Advice: 4.5 of 5 based on 1,969 Buildium reviews
• G2: 4.4 out of 5 based on 195 Buildium reviews

Less positive Buildium software reviews reveal that one user found it difficult to set up the late fee charge and thought the settings for late fees were too limited. Another Buildium review said the learning curve was too long, and a user who is an accountant found some of the financial reports frustrating.

Buildium alternatives

If you want to explore other property management software that can provide you with listing syndication, maintenance management, tenant screening, and online rent collecting, consider the following alternatives to Buildium:

Best for	Affordability for a small team	Landlords building their portfolio	Management companies with larger portfolios	Budget-friendly property management software
Key features	Free listings website Premium leads matching tenants to available units Templates according to state-specific laws	Affordable subscription rate Renter profile and history available Tenant screening at no cost to property manager	Manage multiple property types Residential surveys Staffing and training features	Free rental advertising Property listing and third-party integration Free rent estimate report
Pricing	Free	Free	$250 per month	Free
Learn more	Visit TenantCloud	Visit Avail	Visit Appfolio	Visit TurboTenant

Buildium plans and pricing

Score: 3.5 / 5

Buildium’s pricing structure is divided into three categories, starting at $52 per month. Standard features with every Buildium plan include a free marketing website, accounting and maintenance tools, task management with vendors, a building violations log, a communication platform for residents and board members, and online portals for owners and residents. Here’s what you’ll find included in the three plan tiers:

Click through the tabs below for more information on Buildium’s plans and inclusions.

Add-ons

Not all add-ons are essential for a successful real estate business, but you may want to add some of them for extra functionality. Before deciding on which add-ons to include in your Essentials plan, consider taking a look at the next available plan, as Buildium may include some of these features within them:

• New client leads, powered by All Property Management: Allows property management companies to get real estate leads consisting of interested property owners and boards seeking property management services.
• Tenant screening: Basic screening (available on all plans) does not require accreditation and performs soft credit checks for $15 per screening (or $30 per screen if you pass the cost to the applicant). The premium tenant screening (exclusive to Growth and Premium options) requires hard credit checks and generates a report in minutes for $18 per screening.
• Onboarding: This support add-on is only available for the Growth and Premium plans. A dedicated team assists with importing your existing data into the Buildium platform and provides training.
• Online payments: To accept online payments from residents or pay your vendors electronically through Buildium, you must pay the EFT transaction charges. Charges vary by plan and whether or not you want to accept credit card payments.
• Bank account setup fees: Attaching your bank account to the Buildium accounting system allows transactions to be collected in your accounting ledger for automatic reconciliation, payments, and deposits. Setting up your bank with the Essential plan is $99 per account, but Premium and Growth plan subscribers receive five free bank account integrations.
• Renters insurance: You may offer residents renter insurance starting at $12 monthly.
• 1099 e-filing: At the end of each calendar year, you’ll have to process 1099s for your vendors. The platform can generate 1099s at $25 per batch and $3 per form.
• Showings coordinator: Starting at $30 per month, automate the rental unit showing process with a virtual coordinator who collects prequalification information, schedules showing appointments, and coordinates follow-ups.
• Remote check printing: Buildium can print and mail checks on your behalf. There is a $30 setup fee and 80 cents per check cost.
• EZMail: Buildium will print and mail property-related documents for you for 80 cents per single-page mailing and 15 cents per additional page.

General Buildium features

Score: 4.63 / 5

Buildium’s features streamline day-to-day property management activities and integrate all significant accounting and leasing functions into one platform. Some tools create lines of communication between residents, vendors, and property owners, all while giving the property manager a comprehensive overview. 

It also has features that reduce stress by providing information to residents via a dedicated portal, the ability to pay online, and automating rent payments to minimize the need for collections.

The general features available on Buildium make it a comprehensive solution for property management companies. It provides portfolio organization and automation regarding tenant communication, building finances, and maintenance work orders. Its objective is to eliminate the pain points of managing multiple units while providing accurate information to all parties involved.

Advanced Buildium features

Score: 5 / 5

For a closer look at some of the key and niche features the Buildium platform offers, read the details about each feature by clicking on the sections below:

For a closer look at some of the key and niche features the Buildium platform offers, read the details about each feature by clicking on the sections below:

• Property-specific accounting
• Overall company accounting
• Financial reporting
• Automatic payments

The property accounting solution tracks transactions relating to a specific property. This includes recording tenant payments and allowing managers to collect necessary fees and deposits or issue refunds. Managers can also pay vendors for maintenance requests directly through the system, which saves time and effort by recording every check and transaction associated with the building.

 

Buildium’s real estate accounting software can also track company expenses and income and provide an accurate snapshot of bills, incoming rent, and security deposits. Financial reporting tools generate reports for cash flow, balance sheets, and income statements. The ability to track all transactions for your business in one place is more efficient and enables you to make better-informed decisions.

• Cut payment processing fees
• Automatic deposits
• Set recurring payments

Online payments speed up the process of collecting tenants’ payments and cut payment processing times by up to 70%. Residents can connect their bank account or credit card in the resident portal to set up automatically recurring payments. Recurring payments help to ensure payments are not missed and are on time.

The money is transferred automatically, reducing the need to make manual deposits and visits to the bank. Accepting online payments also allows property managers to collect rental application fees. These fees help offset tenant screening charges and become a source of additional income for property managers.

• Lists units on major third-party platforms
• Anticipate upcoming vacancies
• Full unit descriptions

Property management teams using Buildium can list available or upcoming units with just a few clicks as vacancies within the building arise. Listings can be syndicated to major third-party advertising websites, such as Apartments.com, the Zillow Rental Network, Craigslist, and Zumper.

The platform allows you to input a description for the listing consisting of unit details, amenities, building amenities, and photos or videos of the space. Buildium also provides the ability to see an overview of units listed on the market, units taken off the market, and potential upcoming vacancies and to assign these units to leasing agents.

• Apply for units online
• Customizable applications
• Collect application fees online
• Screen potential tenants

Online rental applications save time and the hassle of physical paperwork and allow interested parties to apply from anywhere. Plus, the building application is fully customizable. Edit the application as needed based on required information from the building owner and showcase building branding on the application to reinforce marketing efforts.

Application fees are automatically processed through the form, and Buildium provides an overview of application status through an applicant dashboard. Following the application, if purchased as an add-on, you can screen tenants directly within the platform.

• Powered by TransUnion
• Full credit, criminal, and eviction data
• Identity verification

TransUnion, a U.S. credit reporting agency, powers Buildium’s tenant background check service. Landlords can access full credit, criminal, and eviction data to help them avoid tenant scams.

Landlords have two screening options: basic and enhanced. Unlike basic tenant screening, the enhanced tenant screening option allows for customized thresholds on recommendations, requires minimal applicant involvement, and delivers faster results. Both tenant screening plans include rental recommendations from TransUnion, a full credit report, identity verification, eviction history, and background checks for renters.

• Unlimited document storage
• Document organization
• Share documents

Within the Buildium platform, you can store an unlimited number of documents. Some documents that should be stored are leases, amendments, insurance policies, floor plans, unit photos, and meeting minutes.

The ability to store important documents is essential when referring to documents such as applications, leases, and renewals, as well as for easy sharing with building owners. Additionally, having documents uploaded into the system enables you to easily search within the resident profiles by name, phone number, or property to find documents pertaining to them.

• Integrates with accounting solution
• Tenants make maintenance requests online
• Schedule work requests
• Automatic alerts

Through the Buildium platform, tenants can quickly make maintenance requests online, eliminating paperwork and increasing response time. Along with the maintenance requests, residents and owners can submit videos, photos, and documents related to their requests. Vendors can also document completed work with pictures and videos within the platform.

Vendors and managers can receive maintenance request alerts on their phones, tablets, or desktops. Certain maintenance requests will be ongoing for a building and can be scheduled to recur directly through the platform. This feature is integrated with the accounting solution, allowing you to pay your vendors directly through the platform for completed work.

Ease of use

Score: 5 / 5

Buildium’s platform is built to automate and manage tasks conveniently online. Every user can customize their dashboard based on the functions they mostly use. 

With the available onboarding and support options from Buildium, launching the system to manage a portfolio of buildings is streamlined—especially with the Growth and Premium plans. The Buildium team will import all your data to assist you in migrating to the new system. There are also multiple customer support options to assist as issues or questions arise.

Even with the Essential plan, self-guided training is available through the Buildium Academy to help you get up and running fast. Whether it’s making changes to the professional website or rental application, the Buildium system is built to allow easy customization. Try Buildium’s 14-day trial to see how the platform matches your rental business.

How we evaluated Buildium

To determine Buildium’s rating, we evaluated the platform alongside other tenant screening software for landlords and property managers based on its pricing, ease of use, customer reviews, help and support, and general and advanced features. Here are the weighted evaluation criteria used to examine each platform:

• Tenant screening features 25%

Based on various tenant screening features offered that help landlords and property managers evaluate prospects and obtain comprehensive and reliable credit, criminal, and eviction history reports.

• Pricing 20%

Pricing is based on the cost structure, a la carte options, and availability of online tenant screening services for landlords and tenants.

• General features 20%

This includes various property management features like listing syndication, rental advertising, rental property accounting, online payment collection, and maintenance requests.

• Ease of use 10%

Evaluated based on platform usability. This was analyzed in terms of the expertise needed to set up an account, navigate the provider interface, run comprehensive tenant screenings, and view reports.

• Customer rating 10%

Based on customer feedback for each platform, the functionalities that are most useful for property managers as well as areas that need further improvement.

• Expert score 10%

Expertise in the field and firsthand experience with the providers allow us to evaluate the standout features, value for the money, and ease of use for rent payment service software.

• Help and support 5%

We looked into the convenience and attainability of customer service for technical support, onboarding, and training.

Frequently asked questions (FAQs)

Bottom line

Having a comprehensive property management solution adds value to any building and portfolio. Features like online payment options and a dedicated resident portal help decrease unit turnover and keep building owners and investors happy. Based on Buildium reviews, the platform provides all parties involved access to real-time information, streamlining communication to save property managers time and money in the long run.

The post Buildium Review: Is It Right for Your Real Estate Business? appeared first on The Close.