Property management software has the ability to make or break your business. Choose the right one, and you can increase revenue, manage your team efficiently, and free up time to focus on the things that are important to you. Choose wrong, and you could end up pulling your hair out trying to troubleshoot issues if you don’t understand the complex features and nuances of how it all works.
At OJO Bookkeeping, we are all about making the lives of our clients easier. That’s why we’re taking a deep dive into some of the top property management softwares so you can understand their key features and if they suit your specific needs.
Previously, we covered Appfolio, and now we’re taking a look at Buildium.
Buildium is a property management software that helps landlords, property managers, and homeowners associations (HOAs) manage their properties and tenants more efficiently. It offers a range of features that make it easier to handle tasks such as rent collection, maintenance requests, and communication with tenants.
Here are some of the key features of Buildium:
Rent Collection
With Buildium, you can easily collect rent payments from your tenants online or via mobile app. The system also allows you to set up automatic rent reminders and late fees, so you can stay on top of rent payments and minimize the risk of non-payment.
Maintenance Requests
Tenants can easily submit maintenance requests through the Buildium app, which allows you to track and prioritize requests and assign them to your maintenance team. The automated processes and improved response times helps keep your properties in good condition, minus the paperwork.
Tenant Communication
Through the comprehensive Resident Center, all of your residents will be in the know on important updates. Buildium also includes a secure messaging system that allows you to communicate with your tenants directly through the app. It also comes with a message board feature so that residents can share news and updates and build community.
Financial Management
Buildium provides a range of financial management tools to help you keep track of your property’s finances with precision and accuracy. With the click of a few buttons, you can create and track budgets, generate financial reports, manage accounts payable, automatically reconcile bank accounts, track income and expenses, and much more.
Leasing Tools
Buildium includes a range of leasing tools to help you find and screen potential tenants. You can create custom application forms, run credit checks, and track application status all within the app.
The Pros
- One of the main pros of Buildium is its user-friendly interface. It is designed to be easy to navigate, even for those who may not be tech-savvy. This makes it an ideal choice for property managers who are looking for a tool that is straightforward and intuitive.
- Something else unique to the software is that once you sign up, you get a free public website to use for your business. It’s mobile-friendly and easy to customize, offering the most important attributes you’d need for a property management website.
- You can advertise your properties, screen tenants, and create and renew leases in a matter of minutes. Buildium also syndicates your property listings to popular sites such as Zillow and Apartments.com
- Buildium also has a strong customer support team. The team is available to help users with any questions or issues they may have, and they offer a range of resources, including online tutorials and webinars, to help users get the most out of the software.
The Cons
- Multiple user reviews mention that Buildium might not be the best best for commercial property managers, and that the accounting features can get confusing to use. It’s probably best suited for those managing under 100 units.
- Another potential con of Buildium is that it is geared primarily towards landlords and property managers who own small to medium-sized properties. While it does offer some features that may be useful for larger properties, it may not have all of the advanced features that larger property managers may need.
Overall, Buildium is a solid choice for landlords and property managers who are looking for a user-friendly, comprehensive property management software. While it may be more expensive than some of its competitors, it offers a range of features that can help property managers streamline their operations, make their jobs easier, and scale their business.
Have you used Buildium before? Would you consider trying it? Here at OJO, we know Buildium like the back of our hands. Once you sign on as a bookkeeping client, we can integrate into your systems and software in a flash.
Schedule a free consultation call to learn more!
