Buildium is a comprehensive, cloud-based property management software designed to streamline and simplify the complex tasks associated with managing residential and association properties. Here’s an overview of what the product does and its key features:
What Buildium Does
Buildium is an all-in-one solution that empowers property managers to handle all aspects of their business efficiently, whether they are working in the office or remotely. It integrates various functionalities to manage rentals, leases, maintenance, financial reporting, and communications, making it a robust tool for property management.
Key Features and Functionality
Accounting and Payments
Buildium offers robust accounting tools that automate bookkeeping, collections, and payments. It allows property managers to accept online rent payments via multiple methods, including credit cards, ACH transfers, and e-Checks. The software also integrates with accounting systems like QuickBooks and automates bank reconciliations, ensuring accurate financial records.
Tenant Management
The software includes a tenant database where property managers can access tenant details, track rental history, and communicate with tenants through an integrated messaging system. Tenants can also use the resident portal to pay rent, submit maintenance requests, and view their payment history. Additionally, Buildium facilitates tenant screening through its partner network and supports background checks and rental applications.
Lease Management
Buildium simplifies lease management by allowing users to create customized leases, track lease expiration dates, generate lease renewals, and manage lease amendments. All lease documents and communications are stored in one place, making it easier to access and update lease terms.
Maintenance Tracking
The maintenance management system centralizes property maintenance requests and work orders. Property managers can create work orders, assign them to vendors, and track the status of these orders. The system also supports the attachment of videos and documents to work orders and allows for recurring maintenance tasks.
Communication Tools
Buildium provides various communication tools, including email, SMS messaging, and the EZMail service for sending physical letters. These tools enable property managers to communicate effectively with tenants, vendors, and property owners, both individually and in bulk.
Financial Reporting
The software offers comprehensive financial reporting capabilities, allowing users to track income and expenses, generate detailed financial reports such as income statements, balance sheets, and cash flow statements, and export financial data for tax preparation. It also supports automatic e-Filing of Form 1099s.
Mobile Access and Support
Buildium is accessible via a mobile app, enabling property managers to manage their properties on the go. The software also provides extensive support, including a help center with tutorials, ticket-based support, live customer support, and personalized onboarding depending on the subscription plan. Additionally, users can access Buildium Academy for on-demand learning tutorials.
Additional Features
Other notable features include automated accounting, integration with other business applications via an Open API, and tools for generating additional revenue streams, such as the ability to set convenience fees for online payments. The software also supports e-signatures powered by HelloSign, which streamlines the lease signing process.
In summary, Buildium is a powerful property management software that streamlines operations by automating various tasks, enhancing communication, and providing comprehensive financial and maintenance management tools. Its integrated system ensures that property managers can efficiently manage their properties, increase productivity, and deliver top-notch services to tenants.
