If you are a real estate professional that manages investment properties or a homeowner or condo association you understand that keeping track of the details of the operation can be overwhelming. This is the target market of the Buildium software, which aims to streamline management of your properties,rental units, and condo associations. Using a web-based interface that integrates both the financial and common tasks associated with management of your property will allow you to be much more efficient and profitable.
Face it, if you are the typical landlord or property manager, your world is a collection of paper invoices, notes written to complete maintenance requests, quotes from contractors piled in a corner, and disorganization running rampant. And then when the phone rings you from Mrs. Jones in unit 23C you just remember that you forgot to get the plumber out there.
When you start using Buildium you transfer your working environment to a very organized online environment that will allow a greater big picture view for both you and your tenants. The system was built by 3 partners who have over 30 years in automating property management and from my perspective, have created a clean, crisp product.
The interfaces include a financial package that is designed to facilitate recording and summarizing you income for tax purposes and a full functioned accounting module. This in itself is a huge time-saver when quarterly’s are due and you are managing multiple properties. The tenant module keeps track of all your tenant information, payments, leases due to expire, and other reports that keep you in control of the properties under your management.
The Maintenance module is designed to create work orders and manage the maintenance requests. It also creates the property repair and maintenance records for the properties under management so repeated small problems that could signify a major problem are easy to identify.
Plus, going back to Mrs. Jones has it within her power to go online with the tenant module to see the status of her work-order , and what special circumstances may be in play on the property. Just think of how many phone calls that can alleviate. And each tenant will have an online account to see the status of their payments and rental agreement. If any information that needs to be communicated to your tenants, you have an online vehicle to get it to them.
Since Buildium is web based, the program is available anywhere you are that has an internet connection. Instead of having to pull up spreadsheets on your laptop when out of town, you just log into the Buildium system to get a complete up to date status report. And as an additional benefit, Buildium can host a website that will help you market your properties, receive applications, and rent all of your units.
In today’s electronic world, online bill payment is a necessity. You can get a Buildium merchant account that allows you to accept rental payments online and make electronic payments to your vendors.
All that I have described with the Buildium software is designed with separate editions for Landlords, Property Managers, and Associations. These guys are smart about pricing too, as they have a tiered pricing structure that allows your costs to be as low as 10 dollars a month if you have less than 5 units and working its way up as you add units to the program. For a management solution the price is hard to beat.
I am very web centric and like to travel a bit. The idea of having the ability to manage my rental properties online wherever I am is a great idea. Then to have the clean crisp interface that Buildium offers with all the facets of running my business makes this look to be a great product for a landlord.
I also think that with the tenant modules and online bill payment and rent receipt tools the program would help make your properties very attractive to future tenants. For both landlord and tenant one of the biggest irritants is the inability to communicate issues and get quick resolutions. The online communications offered by Buildium makes this program very attractive and cost effective just for this part.
This looks like one of the best property management solutions on the market today and if you are looking to gain the efficiencies of an online presence, I recommend looking at Buildium for your needs.