In order to do well in Hotel management, you need a software like Buildium to streamline workflow.
According to a report by REAL Trends, over 43 million households are now renting instead of buying homes.
MarketResearchReports in their report also announced that the global property management software market is likely to experience an annual growth rate of 6.7% by 2020.
This is because property managers and real estate agents juggle many tasks and handle tons of data collected from different sources.
Also, the growth rate might probably entice new property managers to use a hotel management software.
By helping users maximize their competitive advantages, the hotel management software lessens the burden of property managers and real estate agents.
Now, that’s where Buildium comes in handy.
Buildium hotel management software can help you to simplify compliance, improve tenant service, automate redundant paper-based processes, lessen operational costs and more.
In this piece, we’ll take a closer look at Buildium – it’s pros, cons, features, and others.
After reading, you should be able to know what the software can do; its drawbacks and use to property managers and owners.
That said, let’s dive deep.
What is Buildium?
Buildium is a cloud-based solution that helps real estate management firms to maintain and advertise their rental properties easily, collect rent payments, gain new tenants, organize their accounts, and more.
It’s built to support property managers who work in an office, on the go or those who wish to streamline their financials.
It offers the best property management solution and continues to make investments in customer experience.
What this means is that property management firms can use the software to market their properties, keep track of expenses and profits.
Property owners can also use the software to track maintenance tasks, inspect file properties, and ensure that tenants pay on time.
Also, real estate investors can use the software to automate their tasks. They’ll no longer have to rely on paper or spreadsheets.
The rapid growth of city planning and urban development in the USA has paved the way for exciting thou difficult to execute opportunities in the property industry.
The good news is that you can use this software to grab these opportunities while conquering all the challenges imposed.
You can use the software to manage properties without hassles.
Pros of Using Buildium
Let’s take a look at the benefits of using the software.
As a property manager, it’s your responsibility to secure your customer’s sensitive details like their lease agreement, credit checks, and social security number.
If you use this software, you don’t have to worry because your data will be securely stored online and monitored by professionals at Amazon Web Services.
Plus, you can easily access the data from anywhere and at any time.
Their web application firewall and data encryption will block any suspected attacks, and thus secure your data even more.
Real-Time Access to Information
Most property managers can only work while at the office because they keep important information either in great piles of documents or on their office system.
But then users of Buildium cannot be restricted.
Since the software is web-based, it can always be accessed from anywhere and at any time.
Also, your data is stored online and automatically updated.
You and your clients can access this information using a mobile phone.
You’re not the only one who’ll manage your property; your tenants are also expected to carry out operations which require their time.
Tenants can log onto Buildium’s tenant portal and perform necessary operations online. They can also track update and report maintenance requests.
That’s not all.
Homeowners, board members, and property owners can also use the system’s dedicated portal to communicate with their tenants.
Buildium has a lot of capabilities that’ll allow you to get tasks done much faster and in a way that you won’t waste any resources.
When someone on your team tries to perform these tasks manually, you’ll discover that it costs more money on payroll.
Not just that alone, it might likely affect your productivity level; and will thus shave a little off your bottom dollar.
Quick Property Inspection
You’ll agree that property inspection is time-consuming.
As a property manager, you’ll need to visit your properties one after another, taking note of all important information and storing them back on a system.
These tasks can be daunting and time-consuming; you don’t have to spend such an ample time on tasks that can be easily carried out using the appropriate software.
You can easily use Buildium’s predesigned inspection templates to inspect your properties and generate insightful reports while out on the field.
You’ll achieve all these in a breeze.
This software is unique in that property managers and owners can use it to create comprehensive reports.
Managers can use these reports to know tenants who’ve paid and those yet to complete their payments. They can also get a birds eye’s view of their properties and carry out a property to property analysis.
Using the system’s report module, you can easily monitor electronic payments.
In recent years, online payments have emerged as an ideal solution for property managers and landlords to streamline their efforts, save time and money.
Just like other online software, Buildium supports online payment.
Now, tenants can easily use their mobile phones to send payments directly into your bank account.
Rather than tracking down rents, you can now spend time doing the things you love.
Cons of Using Buildium
Every software or product has drawbacks. Let’s look at the disadvantages of Buildium:
- It does not support third-party integration
- It is not compatible with Quickbooks
- Its accounting features are not always user-friendly
- Difficulty in deleting/ renewing and ending expired leases
- It uses a non-blending payments method
- It has a short time frame on password reset procedures
- Bulk payment entry is time-consuming
- Lack of Multilanguage support
Features of Buildium
Buildium comes with many accounting, business operations, leasing and community association management features.
Let’s take a close look.
You can use Buildium’s mobile-friendly resident portal to streamline maintenance requests, simplify communications and reduce delinquencies.
You can also use the software’s announcement board to share important notes, updates, emails and text messages with individuals or groups.
The resident portal supports community building; it enables you to add community messages which can be viewed by associations and residents.
It doesn’t end there.
Residents can also download their lease and other relevant documents right from their portal. Hence, they won’t be any need to request for files from anyone.
Another essential feature of this software is streamlined communications.
After all, communication is key to any great relationship whether its familiar, professional or between property managers, owners, and tenants.
The software has client access, triggered messages and message inbox so that your owners and tenants can log in at any time to see a real view of their financial data and property.
This way, you’ll spend more of your time fostering great relationship rather than looking for information.
Online in the Cloud
Given that Buildium stores your data “online in the cloud,” it mitigates the need for on-premise servers that’ll require installation, maintenance, and update.
In addition to cost efficiency, one of the benefits of the feature is increased accessibility and flexibility.
With your data in the cloud, you can always work from anywhere, at any time. You can also save yourself from downtime.
This feature helps you to efficiently and securely find every lease, insurance policy, and documents.
You can upload an unlimited number of leases, addenda, receipts, policies, inspection results, maps and floor plans, and access all of them from anywhere and at any time.
Plus, you can use the app to search for properties, phone numbers or names.
If you’re interested in sending out reminders or notices, you can easily create your emails or letters using pre-populated templates; alternatively, you can compose it from scratch.
Work’s made easier.
As a property manager or homeowner, you live in a mobile-friendly world- you’re continually inspecting properties, meeting with clients and commuting from one place to another.
You can use Buildium’s mobile app to quickly conduct inspections, access property, contact data and stay on top of your portfolio at all times.
Creating Marketable Websites
Buildium users can use the software’s DIY tools to create marketing websites which represent a property’s home on the web.
Through these websites, property managers can accept applications, list their properties, and communicate with tenants and owners.
You can easily customize the marketing website by including your brand identity; within minutes, your site will be live, and people can now view your listing.
Also, rental owners and tenants can use your marketing site to log onto their portal directly.
- Rental Cash Payment
- Owner Portal
- Maintenance Request Tracking
- Renters Insurance Plus
- Rental Listing
- Showing Coordinator
- Tenant Screening
- Board Communications
- Accounting and Budgeting
- Violation Tracking
- Expert Customer Care
- Text Notification and Communication Inbox
- On-demand Reporting
Buildium’s enterprise pricing options: Pro and Core are dependent on the number of property unit that a company manages.
The pro plan for a company that manages 100 units’ costs $200/month while the core plan costs $150/month.
Let’s look at the features of each plan.
The Core plan covers the following standard features:
- Company financials
- Property accounting
- Dedicated portals for tenants and property owners
- Document management
- Customized website
- Maintenance request/work order tracking
- Rental listings and applications
- Renters insurance
The plan also has the following optional add-ons:
- 1099 eFiling ($25 per batch)
- Online payment (Buildium charges $99 for ePay setup and 50 cents for electronic fund transmission)
- Letter-printing service (80 cents per one-page mailing)
- $15 per basic tenant screening
- Check-printing service ($30 setup fee and 80 cents per check with postage; in-office checks are free)
Added to the above features, the Pro plan covers:
- No ePay setup fee for if you’re paying with a credit card
- Premium tenant screenings access for $18 per person
- Free setup for remote check printing
- Setup for free setup with unlimited inspections services for your property
The price quote for Buildium can be gotten using the following steps:
- You can use the slider or input the number of units you manage
- You can compare monthly plans and get quotes for each
To use the software well, you’ll need to be aware of the technical details.
Let’s quickly take a look at these details.
You can access the software on the following devices:
Supported Operating System(s)
Window 7, Window 10, Window Vista, Window XP, Windows 2000 and Windows 8.
Buildium supports only English Language.
Buildium is targeted to companies that manage homeowners’ associations and residential properties. It has been used by over 12,000 property managers and 850,000+ residents in 46 countries.
Buildium is ideal for:
- Small businesses
- Medium businesses
- Large businesses
Buildium’s customer care has a first-call resolution rate of 93%; they’ll answer all your questions in just a call.
Once you sign up, their onboarding specialists will provide you with every single detail you need to know about the software; they’ll also be available to attend to your question 24/7.
Buildium also offers one on one training which is centered around setup coaching, Buildium essentials, and customized features.
They also have a knowledgebase portal where you can find troubleshooting guides and answers to frequently asked questions.
In general, They’ll help to get your job done in a breeze.
You can get in touch with them.
To wrap up
It is essential to note that almost all of your business operations will improve when you make of use of a property management software that suits your business.
With automation, you’ll gain valuable time to improve your business.
So, Buildium is an all in one solution that’ll help managers of homeowner’s associations, rental properties or condominiums to increase operational efficiencies, improve communications and maximize financial resources.
We have done a great job by introducing you to Buildium.
If you own residential properties, student housing or community associations and you’re looking forward to making your activities less tasking while maximizing productivity, then you can try out Buildium.
The choice is yours; we won’t do that for you.
You can consider signing up and using the software for a 15 days’ trial period.