Buildium is a cloud-based property management accounting software that helps you keep your books up-to-date, manage monthly profits, automate payment collections, and more. Its features include accounts payable (AP) management, 1099 e-filing, and reporting. Prices start at $47 per month for one unit, and it’s best for residential property managers, student housing owners, and community associations.
Buildium Pros and Cons
Flexible and easy to use
Unresponsive customer support
Efficient bank reconciliation
Messy owner portal
Excellent financial reporting capability
Who Buildium Is Best For
- Residential property managers: Buildium is specially designed to help property owners and managers collect payments from tenants, reconcile bank transactions, automatically file 1099 tax forms, track maintenance, and more.
- Student housing owners: Simplify the challenges of running college dorms—from collecting payments to reminding residents of the trash policy.
- Community associations: It offers a customized plan for those who need to communicate effectively with homeowners, nonowner residents, and board members.
Buildium’s pricing page shows two plans with fees that start at $47 per month, depending on the number of properties you manage. The prices escalate as the numbers of properties increase. The plans vary in the advanced features included like mobile inspections, free leases, and onboarding.
Pricing & Features
Start at $47
Start at $146
Accounting, Budgeting & Reporting
$5 per document
$15 per screening
$18 per screening
$65 per month
$99 setup fee
Note that its Core plan is only available for 150 units or fewer. You may use its slider to determine the fee that corresponds to the number of properties you manage. To give you an idea, its base fees for 100, 500, and 1,000 units are $156, $583, and $1,100 per month, respectively.
Additionally, Buildium offers extra services, such as renters insurance (starts at $12 per month), remote check printing ($30 setup fee and 80 cents per check), and showings coordinator (starts at $30 per month).
Aside from the features listed in the table above, Core includes other features like common expense allocations, tenant and owner portals and communication, board member tracking and permissions, and event tracking for violations.
Additionally, it offers premium online payment solutions at $1 per incoming electronic funds transfer (EFT) transaction, 50 cents per outgoing EFT transaction, 2.95% per credit card transaction, and $99 setup fee per business bank account.
This plan includes all of the features in Core, with the addition of the functionalities indicated in the table above. Also, it offers online payment services (free incoming EFT payments, 50 cents per outgoing payment, 2.95% per credit card transaction, and free setup for the first five business bank accounts).
Buildium Alternatives 2020
Real estate businesses, investors, brokers, and agents looking for a cloud-based accounting software
Real estate agents who want to track profit and loss by sale
Real estate businesses, investors, brokers, and agents who want to keep the books for multiple businesses
Self-employed real estate agents, managers, and investors looking for accounting and tax software combined
Property managers with only a few units looking for free accounting software
Buildium’s dashboard gives you quick access to plenty of features that can help you simplify your real estate bookkeeping and accounting tasks. To help you get a better look and feel of Buildium, here’s how its dashboard looks like.
Let’s go over some of its top functionalities to help you decide whether or not Buildium is the right tool for you.
Buildium enables your vendors and contractors to bill you electronically so you can track completed tickets. It comes with a built-in calculator that allows you to determine how much you owe your vendor and then pay it directly within the platform. The software also lets you set up automatic recurring payments.
Generate a wide range of reports to help you gauge the financial health of each of your managed properties. Available reports include the following:
- Balance Sheets
- Income Statements
- General Ledger
- Budget vs Accrual
- Cash Flow Statements
- Rental Owner Ending Balances
- Rental Owner Statement
Buildium makes tax season less painful by automatically batching 1099 e-filing with the IRS, letting you print and mail forms to owners and vendors, and then tracking their status.
Automate your collection process for rent, fees, and bills. It lets you set up recurring payment schedules so that you won’t miss deadlines again.
If you’re unsure if this is the best software for your real estate business, answer a few easy questions and we’ll give you a personalized suggestion.
Most Helpful Buildium Reviews
Users who gave positive Buildium reviews like that it is flexible and easy to use. Some praised its efficient reconciliation service, and others find its financial reports extremely helpful. Meanwhile, those who left negative reviews said that its customer support is not that responsive and that its owner portal is a bit messy.
Flexible and user-friendly with excellent reports
One user who left a positive review of Buildium on Capterra said that it is easy to use and flexible, emphasizing that it can accommodate multiple properties. He added that it allows him to generate reports that cover different years.
Unresponsive customer support and messy owner portal
One reviewer of Buildium on Capterra commented that its customer service team is not that great as they don’t respond to queries and concerns in a timely manner. He also said that its owner portals are difficult to manage.
Buildium Frequently Asked Questions (FAQs)
Can I try Buildium for free?
Yes, you can. Buildium offers a 15-day free trial, giving you access to all of its basic features.
Can I assign custom user roles?
Yes, you can. You may limit what staff members and vendors can view, edit, or delete on Buildium, depending on their roles.
How does Buildium streamline maintenance requests?
Buildium simplifies the submission of maintenance requests by enabling residents to upload photos directly from their mobile devices. Admins can also assign a staff member to respond to all inquiries and maintenance requests.
Our Top Real Estate Accounting Software Providers
If you aren’t sure that Buildium is right for you, then this article on the best real estate accounting software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on key features, such as the ability to separate profit and loss by property or sale, track vehicle mileage automatically, and reconcile bank and credit card accounts.