With various kinds of property management software available, it may be difficult to determine which one performs specific functions.
Buildium is a cloud-based software that has been operating since 2004.
Dimitris and Michael, two landlords, created the application to make their jobs simpler and to give them complete control over their properties.
Though the real question being, is Buildium for you?
Continue reading, so you can answer the question on you own.
But before that…
Buildium is a real estate investing program.
Like most real estate investing training courses, you’ll likely be exposed to the “Big 3” investing types:
- Long-term buy-and-hold
Regardless of which path you go down, there is a lot of potential with real estate investing.
After all, it’s the world’s oldest wealth-builder.
However, before you leave this Buildium review and go sign up, you might want to ask yourself:
“Is now the right time for me to get into real estate investing?”
Because, no matter which way you slice it, real estate investing is extremely capital intensive, labor intensive, or both.
So if you’ve only got an hour or two a day, or your savings account is a few zeroes lighter than you’re comfortable with, this might not be the best time for you to jump into real estate investing.
But that doesn’t mean you’re out of luck. It just means you need a system to free up more time and give yourself a stronger financial cushion.
A good way to get yourself there is with Digital Real Estate.
Digital Real Estate takes all the best parts of real estate investing, while eliminating most of the headaches:
- Low cashflow
- Interest payments
- High overhead
- Expensive repairs and maintenance
- Problematic tenants
And the best part?
Digital Real Estate allows you to build a passive income stream that’s actually passive!
An income stream that brings in consistent revenues every single month (from a couple thousand dollars to well over $10,000).
An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day analyzing deals, cold-calling homeowners, or dealing with contractors.
If that sounds like something you’d be interested in, check out Digital Real Estate.
This is the perfect first step to build recurring income that you can then use to start investing in real estate down the line.
However, if you’d still like to know more about Buildium, keep reading.
What Is Buildium?
Buildium is purpose-built for all types of residential property management and is used by over 4,000 professional association managers who manage over 300,000 association units.
Buildium is an all-in-one software solution that may help you improve communication, increase operational efficiency, and optimize financial resources whether you manage rental properties, condos, or homeowners associations.
Buildium Key Features
Buildium unlike other property management software, includes a number of tools that may assist to speed up the property management process at each level.
It i designed for large management companies and gives you the best pm software solution and management perspective. Here only the administrator can ask for help and the ability play around, meaning to say if you aren’t a property manager you will most likely have a hard time in the company.
The app’s use could start with the leasing process. Buildium handles rental property listing management, including syndication to Zillow, Trulia, Craigslist, Facebook Marketplace, and Apartments. After that, the service can be used to accept applications and screen renters. The program will also facilitate e-signing the lease. Furthermore, Buildium can help you create your own website if you don’t already have one.
Screening is an important but sometimes overlooked step for landlords to safeguard their properties and revenues. The Buildium screener allows you to check credit, criminal, and eviction records to decide whether or not an application is a suitable match for your property.
Buildium provides an online interface for residents and owners to handle paperwork, maintenance requests, and payments. Owners can access financial reports via the web or a mobile experience.
Maintenance requests are among landlords’ worst fears, especially when they appear to be an emergency repair needed on Thanksgiving or New Year’s Eve. You may accept maintenance requests from the owner dashboard, produce work orders, and submit requests straight to suppliers.
If you own rental properties, you are a company owner. Accounting, bookkeeping, and taxes are all components of operating a company. Buildium also has you covered there. The platform includes accounting and financial reporting at the property and business levels, as well as rent and bill payments and the option to e-file 1099s for vendor payments.
When renters pay online using the renter portal, the monies are promptly deposited into the renter’s chosen payment method. Online payments are automatically sent to the general ledger, where they are accounted for. Buildium contains over 50 separate reports that are useful to property owners and investors.
The cost of Buildium is determined on the amount of units you manage.
There are also three pricing tiers: Essential, Growth, and Premium.
The most cost-effective price level starts at $50 per month for up to 20 units. Many services are offered on an as-needed basis. With an Essential membership, electronic money transfer (EFT) payments cost $1, while credit card transactions cost 2.95 percent. Each business bank account that accepts payments is subject to a $99 setup fee. Property inspections start at $40 per month with a $99 setup fee, and electronic leases cost $5 per lease. The standard tenant screening fee is $15.
The monthly fee is determined by the number of units that must be managed. Essential costs $65 per month for 21-40 units and a maximum of $235 per month for 141-150 units. You cannot manage more than 150 properties with the Essential membership.
Growth provides free ETF payments as well as up to five free bank account openings. Outgoing payments remain 50 cents, with credit card processing costing 2.95 percent. However, leasing documentation is free.
There are basic and premium screening options available. You also get live phone support and may upgrade to premium service for an extra $150 each month. You may also learn more about your tenants by using performance data and analysis, as well as property inspections.
The Growth plan begins at $160 per month for up to 50 units and goes up to $210 per month for up to 100 units. From then, the price gradually rises to a maximum of 5,000 units at $5,400 each month.
The Premium membership includes all of the perks of the Growth level, plus some more. You’ll still be paid for incoming payments and credit card processing, but you’ll get access to additional data and insights about your company.
An Open API also enables you to access all of your data outside of the platform, whereas the other membership categories do not. The Premium level includes priority phone help. Buildium rewards are also available.
You may save 15% on your annual membership if 30% of your units pay with a credit card, and 30% get renters insurance via your Residence Center. Premium is only offered as an annual subscription, with prices ranging from $4,698 per year for 150 units to $159,000 per year for 5,000 units.
Buildium charges a fee for additional services. Renters insurance is available for $12 per month per renter. Furthermore, for a $30 setup fee and 80 cents each check, Buildium will print and mail checks for you.
Submitting 1099 forms costs $3 each form plus $25 per batch. Buildium costs 80 cents for the first page of email, plus 15 cents for each additional page.
While Buildium has numerous functions, the price does not end with the monthly membership. The platform adds setup and use fees for various services. This makes Buildium appear less appealing to smaller businesses.
Buildium Frequently Asked Questions
Which Is Better AppFolio Or Buildium?
AppFolio and Buildium are all-in-one property management tools used by thousands of property managers to automate tedious tasks and improve operational efficiency.
The are the best property management assistant for your accounting capabilities. Both systems have the services that property managers need, such as automatic property listing syndication, automated payment collection, tenant screening, maintenance management tools, and accounting and reporting modules.
AppFolio also comes with nearly the features Buildium offers.
Is AppFolio Better Than Buildium?
Buildium is most likely your best alternative if you want to save money on your monthly software subscription. It is often 10-20% less costly than AppFolio. If advanced features such as AppFolio’s AI leasing assistant and 24/7 maintenance contact center are important to you, you’ll probably go with AppFolio.
How Secure Is Buildium?
The Buildium web portal is encrypted every time you access it (technically, it is done using TLS with a 2048-bit certificate signed with SHA-256). Furthermore, your data is kept in a genuine data center maintained by Amazon Web Services (AWS) experts.
What Can Buildium Do?
Buildium is a cloud-based property management application that enables residential and association properties to handle every aspect of their company, whether in the office or remotely, including online rent and payments, maintenance cycles, vacancy management, and accounting.
How Do I Pay My Buildium Bill?
Here’s how to pay for things online:
- Go to Accounting, then choose Bills.
- Choose the bill to be paid.
- Make a Payment by clicking the button.
- Under Allocation Method, choose Manual.
- Clear Payments should be clicked.
- Enter a specific payment amount for each line item.
- Confirm Payment by clicking the button
Is Buildium A Scam?
So, is Buildium a scam? Not technically. You can make money with this program, but it’s definitely not as easy as Gurus makes it sound.
There’s a ton of work to be done upfront, no real guarantee of success, and – most importantly – the actual profit margins on real estate investments are pretty small.
Now, there’s nothing wrong with front-loading the work and making the money later.
But if you’re grinding it out for 3 months – looking at deals, sending out offers, negotiating with the seller and lender to buy a rental property – and then your reward is like $100 a month in profits, it’s not really worth it.
What if, instead, you could do that same 3 months of work (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month (with a 90-95% profit margin)?
And what if you actually didn’t need to wait 3 months? What if you could get started today and have your first payment in a week?
And what if you could double it next week?
Well, that’s the power of Digital Real Estate.
And, unlike traditional real estate, you can legitimately do this from anywhere. It’s a true lifestyle business.
Your laptop and an internet connection is all you need.
Some of the most successful students in this program run their entire 6-figure businesses from:
- A camper in the middle of the woods
- A beach chair on the water in Mexico
- A small villa in Greece
They’re able to travel around, living their lives first, and focusing on their income second.
Because even if they stop working for an extended period of time, the money keeps coming in.
So adventure, memories, and experience are the top priority.
And they never have to worry about how to pay for the next trip, or consider asking for time off.
If this sounds more like the type of life you want to lead, just click here to find out more about Digital Real Estate.
Are There Alternatives To Buildium?
Yes, there are plenty of other business models to choose from if you want to pursue this making money online. Here are just a few:
What Is My Top Recommendation In Making Money Online In 2023?
Our review team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs.
While there may be no “perfect business”, the research IS conclusive:
Whether you’ve never made a dollar online, or you’ve been in this space for a while but never really “made it,” Digital Real Estate is for you.
1) It’s Flexible: got an hour a day? You can do this. Ready to drop everything else and dive in full time? You can do this. Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Real Estate business.
And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t.
Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day.
This is only possible if you have an income stream that’s not tied to your time.
Flipping and wholesaling are full-time jobs (and more), no matter what any real estate guru tells you. You always have to be searching for deals, because if you stop, so does the money.
2) You Own & Control EVERYTHING: Yes, in traditional real estate you kind of “own” the properties. But there’s also a ton of debt tied to most real estate investments, which means the property isn’t truly yours.
A lender can take it away if you miss a payment. Not to mention, loan payments really impact your profit margins.
With Digital Real Estate, you own the assets outright (with a 90-95% profit margin), which means you have all the power and all the control.
3) Little To No Startup Costs: It’s possible to get into Digital Real Estate with zero dollars upfront. Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket…even before you do any work.
Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for less than $100.
4) Minimal Ongoing Expenses: With traditional real estate, monthly expenses are HIGH. Between loan payments, ongoing maintenance, and repairs (not to mention the possibility of having to go through the eviction process), profit margins are slim.
Plus, whenever you have a vacancy, factor in the costs to turn over a unit (plus the fact there’s no money coming in until the next tenant moves in).
With Digital Real Estate, a 100% online business with minimal maintenance and ongoing costs, you never even have to think about that risk.
5) Easy To Duplicate: Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple keystrokes, and a single phone call (and you don’t actually need the phone call).
Remember: each Digital Rental Property is worth $500 to $2,000 a month in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier.
Because you have more knowledge, more experience, more results, and more momentum.
If you wanted to double your income with traditional real estate investing, you’d have to double your monthly rent, double your deals/number of units OR double your profit margins. And, guaranteed that’s a lot harder than a few clicks and a few minutes of your life.
6) Make Money Helping Real People: This part is what makes it all worth it. With Digital Real Estate, you’re actually helping people by solving your clients’ biggest problem:
Small, local businesses need more customers, and with Digital Real Estate, you are unleashing a flood of happy, paying customers for these businesses.
You make money by helping them make money.
Not a big, faceless corporation either…a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent.
Once you see how Digital Real Estate makes a real impact in the lives of real people, you’ll sleep like a baby with a big smile on your face.
Now, the choice is yours. You could continue browsing, looking at opportunities like Buildium which could one day make you money.
You could continue researching, never making a decision.
OR, you could take a look inside, consider what you really want, and join a program that makes your dreams a reality. At the same time, joining a community of over 2,000 successful students that are living life on their own terms thanks to Digital Real Estate.
A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits.
All while genuinely helping real people who are grateful and happy to pay for it.
If this sounds more like what you want out of life (or if you just want some nice side income), click here to learn more about Digital Real Estate.