So, you have successfully purchased your second or third rental property and are now contemplating taking your portfolio to the next level. One of the first things you need to do is make sure your property management skills are on point. Currently, you are managing your small portfolio on the back of a napkin or possibly in Excel, but serious real estate investors know that to be successful you need a system or rental property management software to manage all aspects of your rental investment properties, especially if you want to DIY and not work with a professional property manager.
And to that end, here is an overview of a program many Visio investors use: Buildium.com. Let's take a look at the full services and property management tools the Buildium Property Management Software offers for property owners.
Property management is much more involved than simply collecting rent payments. Buildium streamlines many property management tasks including:
The first step in property management is finding and placing new tenants. Buildium offers several tools to get you up and running including:
Buildium offers a full general ledger accounting platform that includes:
Buildium Property Management Software has all the features landlords need for successfully managing a property, including rent collections, maintenance requests, and more.
Now that you know all the property management services Buildium offers, you're probably wondering how much it costs. Here's an overview of their plans. All plans include on demand reports, portal access, payment history and collections, accounting, screenings, and communications.
Each Buildium pricing tier has possible add-ons for additional fees, including community association management and even student housing property management software. You can also do a free trial on any plan
If you are considering using Buildium as your property management software, we complied some of the pros and cons directly from users. Visit GetApp to see the full list of user reviews including video reviews.
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Summary
For landlords who do not want to hire a property manager, property management software can be invaluable for control of every aspect of property management, including tenant screenings, maintenance requests, rent payment collection, etc. It is also highly beneficial to tenants, and enables them to easily submit maintenance requests and pay rent. Builidum is a popular option that many investors with small to large portfolios use.