Buildium is a comprehensive property management software designed specifically for the needs of property managers.
From property accounting to owner portals and rental services, Buildium is the ultimate tool for any property management business.
This software has so many features that it can be a bit overwhelming at first.
Not sure where to start exploring Buildium and its range of advanced features?
We’ve done in-depth research into Buildium’s software services and functionality so you don’t have to.
Here’s everything you need to know about Buildium’s property management software.
Buildium Rental Management & Accounting Features
Buildium’s accounting software takes the ease of use of other similar cloud accounting software, like QuickBooks, and tailors those tools to the specific needs of property managers.
This comprehensive accounting software can track budgets, manage vendor payments, coordinate rental schedules with tenants, and ensure all your transactions are tracked efficiently.
With Buildium’s integrated accounting software, you can be sure that your property and business expenses are accurately recorded and analyzed, ensuring the financial health of your company.
Property Accounting
Buildium and QuickBooks. Because Buildium’s property accounting software is specifically designed for property managers, you’ll never have to worry about incomplete or inaccurate accounting again.
With its cloud-based property accounting software, property managers can record and view every transaction in their business. This includes payments, disbursements, deposits, and refunds.
You can create complete transaction notes right within the software to track problematic payments, habitually late tenants, and unpaid or unpaid fees.
Buildium’s property accounting software ensures that no transaction is overlooked and that all invoices are paid on time.
In addition to traditional property management accounting, Buildium also offers tenants the opportunity to pay their share of maintenance fees through a co-payment feature. So you never have to worry about individual payments again. Buildium’s real estate accounting software also ensures that your accounts payable are in perfect order. With its built-in calculator functions, Buildium shows property managers all unpaid amounts owed to their company and suppliers.
You can easily create work orders and invoices directly on the Buildium platform for a seamless online payment process. The system even allows you to set up automatic payments for recurring items or monthly invoices, saving you time and potentially money.
One of Buildium’s key features is the ability to automatically reconcile bank accounts in real time. This way, every check and deposit is recorded to ensure accuracy and improve the efficiency of your property management accounting. Forget about manual data entry.
With its comprehensive suite of financial reporting and tracking features, Buildium property management accounting software can generate a variety of useful and complete reports. This essential feature ensures continuous monitoring of the financial health of your property management operations to identify any risk factors, unpaid invoices, and eliminate inefficiencies.
All reconciliation reports created with Buildium comply with audit standards. Some of the reports that can be easily created with Buildium accounting software include:
- Balance Sheets;
- Income Statements;
- Cash Flow Statements;
- Budget and Actual Comparisons;
- General Ledgers;
- Leaseholder Reports and Closing Balances.
Company Financials
Buildium Property Management Accounting Software. Managing the financial health and growth of your property management business is easy with Buildium’s parallel accounting data platform.
This simple approach to property management accounting allows you to control every dollar you spend and earn through tracking and automated collections.
With Buildium’s online payment platform, you can easily manage rental income, insurance deposits, and other tenant payments without
Its streamlined data system allows property managers to incorporate their company’s financial information and transactions using simple forms created by Buildium. This accounting software is unique in the market and is designed specifically for property management companies.
In addition to entering financial transactions in real time, property managers can also automate recurring monthly expenses such as office rent, insurance or legal bills using these customized forms.
Online Payments with Buildium Tenant Portal
With Buildium’s automated billing and payment processing system, property managers can reduce payment processing time by up to 70% thanks to an online payment portal.
This means you will receive your money faster and more efficiently.
Tenants or residents can authorize a bank account or credit card through the Buildium Resident website and set up a recurring payment schedule. This ensures timely payments and fewer headaches for you and your tenant.
With this payment processing software, you’ll never have to worry about insufficient funds or the hassle of having to pay bank overdrafts.
Payments are automatically deposited into your bank account.
In addition to collecting rent and other payments on time, you can pay your business bills in the most efficient way possible with the Buildium platform.
Payments will be recorded automatically.
With Buildium’s fully integrated general ledger software, you won’t have to worry about recording transactions or verifying bill payments.
Retail Cash Payments
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Buildium offers PayNearMe, a premium service for its tenants that allows residents to make cash rent payments at over 20,000 trusted locations across the U.S.
This easy-to-use system is perfect for property managers who manage large apartment complexes or low-income housing complexes.
With PayNearMe, residents can pay their rent in cash without needing a bank account, credit card, or government-issued photo ID.
To use PayNearMe, all you need is a printed pay stub or a mobile payment code provided by your property manager. Once you have this code, residents can go to a participating PayNearMe branch, show their unique payment code, and make their monthly rent or other payments in cash.
This affordable option is perfect for all types of residents and helps ensure they receive their rent on time.
Payments made through PayNearMe are deposited into your company’s bank account within 5 business days, with no risk of chargebacks.
After each payment is made through PayNearMe, your Buildium accounting software is automatically updated, so you don’t have to worry about tracking your payments.
PayNearMe helps eliminate the risk of fraud, theft, and other payment disputes. You can rest assured that payments made through PayNearMe are guaranteed.
1099 e-Filing
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One of the underrated features of the Buildium program is the ability to electronically file your 1099 Form in minutes.
Simplify your tax season by filing your 1099 Form electronically through the Buildium program. This will save you time and unnecessary headaches compared to filing them yourself.
This easy-to-use electronic filing system ensures accuracy by recording all payments from owners and vendors directly into your Buildium account. So you don’t have to manage a tedious filing system when it comes to filing your taxes.
Property managers can easily create tax forms online and have them filled out, stamped, and shipped via UPS the same day they are filed electronically. It couldn’t be easier.
With Buildium’s e-filing service, you can also get ahead of tax season. Buildium launches its e-filing tool a month before the official IRS tax filing deadline.
This extra time allows property managers to verify tax identification numbers, check with recipients who have missing tax information, and ensure that all files are properly organized before the official filing deadline.
When you file your return with Buildium’s e-filing service, Buildium will send digital copies of your 1099 forms to recipients, in addition to a paper copy for filing in the office.
Digital copies are completely free, and you can track their delivery to ensure that all recipients receive their digital copy and meet key deadlines.
Buildium Tenant Portal & Business Operations
The key advantage of Buildium’s business operations software is the flexibility it offers to adapt to your specific property management needs.
No more trying to manage everything through generic accounting and CRM software.
Buildium’s software is designed with the property manager in mind. It integrates seamlessly with your existing business operations and processes.
Below, we share our thoughts on some of the key features and services that Buildium offers for business operations.
With Buildium’s
Resident Center
property managers can streamline their daily operations and create a centralized space for residents to communicate with each other and with you.
This simple and streamlined resident portal is perfect for communicating with residents, collecting rent, and managing maintenance requests. The platform also adds a professional touch to your relationships with residents and vendors, helping you improve your property management.
One of the most useful features for property managers with Resident Center is the ability to collect rent or fees online, directly from the Buildium software.
Property managers can view a resident’s payment history and even allow them to register a bank account or credit card to process recurring monthly payments. The Resident Center can be accessed via a computer or mobile app.
Residents will love Buildium’s tenant portal for its community building features and accessibility. Property managers can quickly and efficiently share important notifications and updates with residents via bulletin boards, individual or group emails, and text messages.
In addition, the resident center offers a community forum where residents and resident associations can easily meet, discuss issues, and share news. This is a great way to connect residents with each other and create a sense of community within their properties.
Owner portal
Buildium Owner Portal.
Similar to the Resident Center, the Owner Portal allows owners to view a comprehensive financial summary of their building and investments.
This accessible portal provides financial data and reports directly from property managers. It helps reduce the number of emails sent to owners on a regular basis.
The Buildium Owner Portal allows property managers to share real-time financial reports, including income statements, accounts payable and receivable, and specific transactions made on behalf of the property.
Comprehensive financial reports, such as balance sheets, are available to owners from any device through the owner portal. Other important documents available through the owner portal include receipts, lease agreements, and many other types of important documents.
The Buildium Owner Portal is the perfect way for owners to manage and track their property investments.
Owners can send funds to their managers and view a comprehensive history of their transactions, helping them monitor the financial health of their investments.
Property managers can easily share important notifications and updates directly on the Buildium platform using its hundreds of email and postal mail templates. They can even send important documents via traditional mail using the EZMail option, which automatically prints and sends handwritten documents for just $0.80 per mailing.
Document Storage
Buildium CRM
Regardless of the size of the property you manage, a large volume of important documents can be burdensome and expensive.
With Buildium’s cloud document storage feature, you can easily organize and archive all lease agreements, insurance policies, and other important documents directly on the digital platform.
The platform allows for unlimited document uploads so you can maintain accurate historical and current records. You can access these documents from anywhere using the Buildium desktop or mobile app and share them with residents and owners.
Some of the important documents stored in Buildium’s digital archiving system include:
- Lease agreements;
- Property policies and guidelines;
- Addenda;
- Receipts and transaction records;
- Meeting minutes;
- Inspection reports;
- Floor plans;
- Maps;
- Maintenance request information;
Maintenance Request Tracking
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In addition to collecting rent, the Buildium Resident Center portal also allows residents to submit and track their maintenance requests.
This smart maintenance management tool allows residents, owners, or staff to submit maintenance requests and work orders, with the ability to attach photos or videos, right from their phones.
Once a job is assigned, residents can track the status of their service request directly in the Resident Center platform without having to contact the property manager.
Buildium’s service management software also allows property managers to track the progress of their suppliers and manage efficiency.
By tracking the performance of all suppliers, you can be sure that they are all being evaluated on a regular basis. The most efficient suppliers receive the most service requests.
You can even schedule recurring maintenance tasks that need to be performed regularly, such as lawn mowing or snow removal.
In addition to workflow management and service request tracking, Buildium’s service request tracking software allows property managers to manage their expenses using fully integrated rental registration and accounting functions. Supplier invoices and expenses are accurately recorded in Buildium’s property accounting software. What’s more, they are paid within the system, so you never have to worry about complicated data entry or unpaid invoices.
Tenants Insurance
Renters Insurance
In partnership with MSI, the Buildium platform offers tenants insurance that protects you as a property manager and your residents.
Through this unique self-service feature, your residents have access to tenants insurance that is fully integrated with the Buildium software. It is easy to use and purchase, and protects everyone from accidents and liability.
Using tenants insurance, powered by MSI through the Buildium platform, property managers can enforce the requirement for tenants’ liability insurance. You can track this insurance to ensure that your residents keep it up to date.
This specially designed renters insurance offers up to $100,000 in liability coverage, with residents able to choose personal property damage coverage in the range of $10,000, $15,000, or $30,000, depending on their specific needs.
These policies also protect residents against guest medical expenses and emergency living expenses. Resident insurance packages start at $12.00 per month.
Analytics and Insights
With all its services, features, and capabilities, Buildium property management software provides property managers with valuable insights into their business and actionable recommendations to save money and improve efficiency.
This real-time performance and personalized information will help you set and achieve your goals, regardless of the size of your business.
As a property management software, Buildium offers valuable benchmarking data so that property managers can compare their data with industry benchmarks and similar-sized companies.
This is the perfect way to better understand your position relative to the competition and create opportunities to reach your business’s full potential.
Buildium Property Management Software: Tenant Management Tools
If you’re looking for the right property management software, you’ll need one with comprehensive leasing capabilities.
With Buildium’s complete suite of tenant management tools, property managers can focus their time on finding the right tenants and increasing their rental opportunities.
From syndicated rental listings and online rental applications to tenant screening tools and eLease software, Buildium’s tenant management software helps you effectively manage your rentals and overall business operations.
Rental Listings
Buildium Real Estate Listings.
With the Buildium rental listing management tool, property managers can upload rental listings to their website and integrate them with leading online rental sites such as Apartments.com, Zillow Rental Network, Facebook Marketplace, and many others.
The ability to integrate their listings allows property managers to showcase them to millions of potential tenants nationwide without having to post them separately on each site.
The rental listings tool even allows property managers to customize their listings based on the number of units available for rent. These specialized descriptions include important information for potential tenants, such as the number of bedrooms, building type, amenities, monthly rent, and more.
With the ability to include photos and videos, your listings will be ready when you are.
Rental Applications
Buildium, Property Management
In addition to promoting your rental listings, property managers can create personalized rental applications to help them find the best potential tenants.
With Buildium’s personalized rental application form feature, property managers can use a pre-designed standard application or customize it by adding their own questions and required information.
These online rental applications are easily accessible to potential tenants through your Buildium marketing website. Applicants can pay the appropriate fees directly in their online application.
Tenant Screening
Buildium, Commercial
The Buildium platform easily categorizes and manages each rental application so you can quickly and thoroughly screen and review applicants using personalized checklists and comprehensive tenant screening.
With Buildium’s comprehensive screening feature, property managers can access a full background check on potential tenants, including credit history, criminal records, and previous evictions. This screening tool helps you effectively evaluate applicants before reviewing them so you don’t waste time reviewing inappropriate applications.
eLease
Buildium Monthly Cost
As many property managers know, the traditional leasing process often involves a mountain of paperwork and paperwork.
With Buildium’s eLease service, the entire tenant experience is online, so you never have to worry about losing important documents. From the initial tenant application to the lease agreement (and subsequent leases), Buildium’s archiving system is second to none.
Property managers can collect legally binding digital signatures thanks to Buildium’s partnership with Adobe Document Cloud. Rest assured, your tenants can sign their digital eLease from their computer, tablet, or even their phone.
All eLeases can be easily tracked using just the tenant’s name, phone number, or apartment address.
Property managers can even save time with Buildium’s pre-designed lease templates. Use one of these helpful templates or create and reuse an online template that meets your specific needs.
These templates use auto-fill fields so you can easily edit lease details, such as tenant names and rent amounts.
Buildium Pricing: How Much Does Buildium Cost?
Buildium property management software offers three pricing tiers, depending on your company size, needs, and accounting requirements. All platform tiers include core services such as:
- Accounting
- Maintenance
- Tasks and Violations
- Communication with residents and board members
- Online portals for residents, board members, and owners
Essential starts at $50 per month, Growth starts at $160 per month, and Premium (with all the features listed above) starts at $460 per month. For more information about Buildium and its tiered pricing plans, visit www.buildium.com/pricing.
