Buildium: Pro & Cons?
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Buildium: Pro & Cons? (by WMH [NC]) Aug 16, 2022 10:05 AM
       Buildium: Pro & Cons? (by Dodge [PA]) Aug 16, 2022 10:29 AM
       Buildium: Pro & Cons? (by Robert J [CA]) Aug 16, 2022 2:19 PM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 16, 2022 2:24 PM
       Buildium: Pro & Cons? (by Robert J [CA]) Aug 16, 2022 2:48 PM
       Buildium: Pro & Cons? (by Barb [MO]) Aug 16, 2022 4:15 PM
       Buildium: Pro & Cons? (by WMh [NC]) Aug 16, 2022 4:45 PM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 16, 2022 4:47 PM
       Buildium: Pro & Cons? (by LordZen [MA]) Aug 16, 2022 5:43 PM
       Buildium: Pro & Cons? (by Barb [MO]) Aug 16, 2022 5:56 PM
       Buildium: Pro & Cons? (by Dodge [PA]) Aug 16, 2022 6:40 PM
       Buildium: Pro & Cons? (by Bonanza [NC]) Aug 16, 2022 6:51 PM
       Buildium: Pro & Cons? (by Small potatoes [NY]) Aug 16, 2022 10:10 PM
       Buildium: Pro & Cons? (by Otis [IL]) Aug 16, 2022 10:32 PM
       Buildium: Pro & Cons? (by GKARL [PA]) Aug 16, 2022 10:58 PM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 17, 2022 8:47 AM
       Buildium: Pro & Cons? (by Dodge [PA]) Aug 17, 2022 9:26 AM
       Buildium: Pro & Cons? (by Small potatoes [NY]) Aug 17, 2022 9:29 AM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 17, 2022 10:31 AM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 17, 2022 11:22 AM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 17, 2022 11:22 AM
       Buildium: Pro & Cons? (by 6x6 [TN]) Aug 17, 2022 8:02 PM
       Buildium: Pro & Cons? (by small potatoes [NY]) Aug 17, 2022 11:19 PM
       Buildium: Pro & Cons? (by Laura [MD]) Aug 18, 2022 1:53 AM
       Buildium: Pro & Cons? (by Wmh [NC]) Aug 18, 2022 3:55 AM
       Buildium: Pro & Cons? (by small potatoes [NY]) Aug 18, 2022 9:06 AM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 18, 2022 10:59 AM
       Buildium: Pro & Cons? (by Laura [MD]) Aug 18, 2022 12:48 PM
       Buildium: Pro & Cons? (by Otis [IL]) Aug 19, 2022 12:04 AM
       Buildium: Pro & Cons? (by WMH [NC]) Aug 19, 2022 1:15 PM
       Buildium: Pro & Cons? (by Laura [MD]) Aug 20, 2022 9:46 AM


Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 16, 2022 10:05 AM
Message:

So I was interested in the demo we saw today and, given that I am trying teach my son how to take over management, or at least have him trained as back-up for now, it seems a good answer to our issues (mentioned by Sid: multiple programs and platforms like Google Forms and Sheets, WordPerfect for leases, Quicken for accounting, Excel, Word, etc...)

For those that are using it or have used it: please give me your feedback regarding the CONs of such a system. I can understand the Pros as described by the salesperson!

Thanks in advance for your time! --50.82.xxx.xxx




Buildium: Pro & Cons? (by Dodge [PA]) Posted on: Aug 16, 2022 10:29 AM
Message:

Following, I'm also interested in this perspective. Thanks in advance to those who share their experiences. --174.59.xxx.xxx




Buildium: Pro & Cons? (by Robert J [CA]) Posted on: Aug 16, 2022 2:19 PM
Message:

Here is a family secret. All you need is a note book and write everything down. As you accomplish tasks you get to cross them off. Each night you update your list for tomorrow. Also you have a page of supplies you need so when your in the area of a suppler, you can stop by and pick up your order.

If you don't write it down you can forget.

I have a landlord friend who I sent a revised check list of what they had to do before I showed up. I was offering my time for "free" and took with me parts and materials that are scarce and hard to find. Such as:

Water Heater Sensor/Thermopile, Kohler tank/bowl plate/gasket, obsolete faucet diverter, Emergency Bar Release level/locking bolt, etc.

My landlord friend had to alert their tenants in different units that I was coming. They forget to tell a tenant to leave a separate driveway open, the only spot my van will fit. They also forgot to deliver a 24 hour notice to enter.

When I arrived they owner/landlord wanted me to park on the lawn -- that could crush their old galvanized water main and collapse their already compromised clay sewer line that was cracked and only 3 feet under grade. My Van is a 1 ton weighing around 10,000 pounds. The tenants car in the driveway had a blown engine and flat tires.

As I told them, if they hired plumber, electrician, a welder, etc -- all of the needed repairs would cost them thousands.

NOT HAVING A SYSTEM TO PUT INTO PLACE APPOINTMENTS, REPAIRS, ETC. Is going to cost this landlord over $5,000. Why? They now need a replacement water heater (Installed by another plumber $1,600). A new refrigerator instead of replacing the defrost timer and sensor ($900). A new kitchen faucet and toilet ($500 with drain tubes). And so on.

These landlords had smart phones, tablets and computers. They always open up a new file and never can find it when needed. A Note Book with tables that cost between $1 to $4 with a pen could save them trips to the stores and unnecessary expenses.

Plus the landlords forgot to check and replace all smoke detectors and c/o sensors. So when a fire started, non of the other units knew about the fire and were fast asleep until the fire department knocked down their door and carried them to safety. A $30 smoke detector would have prevented windows and doors being broken..... --47.156.xx.xx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 16, 2022 2:24 PM
Message:

Robert, this is not just to track repairs. This is to track the BUSINESS soup to nuts, from renovations and rehabs yes to collecting applications leases deposits managing renewals DOING TAXES, etc.

There's a whole lot to it besides a notebook. --50.82.xxx.xxx




Buildium: Pro & Cons? (by Robert J [CA]) Posted on: Aug 16, 2022 2:48 PM
Message:

You are RIGHT WMH (NC). I keep on forgetting my brother, our book keeper, has advanced computer programs and when there is an issue -- such as when the broken A/C was purchased and installed and what the warranty period is, I ask my brother via a text message. Then around 3 minutes later he says:

A/C unit was purchased thru XXX company one XX-XX-XXXX date, for $XXX and is warranted thru 4/25/2025 via an additional warranty. Call 1-XXX-XXX-XXXX. And he sends me a copy of the invoice and warranty.

As an Economist, MBA, CPA and more, my brother keeps records, leases and other information. While my copies are in many file cabinets in folders. --47.156.xx.xx




Buildium: Pro & Cons? (by Barb [MO]) Posted on: Aug 16, 2022 4:15 PM
Message:

Im watching closely.

I use a Google form for initial interest.

I use QuickBooks online (set up through my CPA, and I have her support )

I use Clearnow to collect most rent for long term tenants, have 2 who pay via Zelle, do my invoices for shorter term tenants via QB and I have one where his social worker mails a check for half and he deposits cash for the other half.

I keep a Google Sheet with current residents, their contact info, their end dates, etc.

Word document with lease (easy for me to update) and then sign via DocuSign. I use DocuSign for a number of other reasons, as well.

I do most of my credit reports via rent application (Sid shared a few years ago) in part because they collect other docs for me at the same time.

Im trying to write out all my processes and make it easy for someone else to take over, in case I ever need it.

So, watching and learning. --149.76.xxx.xx




Buildium: Pro & Cons? (by WMh [NC]) Posted on: Aug 16, 2022 4:45 PM
Message:

Robert, I asked specifically about that: not only do they have a whole appliance module but also a random major EVENTS thing. So if I wanted to track, for instance, when we installed a SEPTIC or a ROOF at a particular property there's a place to track that as well. --50.82.xxx.xxx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 16, 2022 4:47 PM
Message:

Barb, our system is much the same (the details vary but same idea) and in training my son I realized how klugy and too personal it was. It requires too much insider knowledge. --50.82.xxx.xxx




Buildium: Pro & Cons? (by LordZen [MA]) Posted on: Aug 16, 2022 5:43 PM
Message:

Interesting thread, following. --98.216.xx.xxx




Buildium: Pro & Cons? (by Barb [MO]) Posted on: Aug 16, 2022 5:56 PM
Message:

In my case, I'm trying to get things to a point that if/when I can't manage myself, it is easy to turn over to a PM if needed. Hubby MIGHT be able to manage, but I've always done it. Plus, he has a full time job at the U that he plans to keep for another decade or more.

With my cancer and other health issues, I know the day will come.

Daughter has NO interest in the property.

Son is uncertain, but is committed to his active duty Army position until at least May 2026. He and his wife have no idea about after that.

In a perfect world, I'll be good for another 20 years of active management in my own way. That will have everything rebuilt, paid off, etc. It will produce a great retirement income for hubby and myself, AND likely sufficient for kids to split as nice retirement as well. IF they want it.

So, the issue is... how to set up for easy transfer when I need to. Who do I transfer to? Depending on where the family is, what their situation is, changes the calculus.

I know there are plenty of PMs here in town. I really don't want to hand my property to the largest in town.... I was put off by them years ago, both as a tenant AND as an investor.

For now, I'm working on finding 3 deep contractors to do everything I need, and trying to find out how to maintain the other docs. --149.76.xxx.xx




Buildium: Pro & Cons? (by Dodge [PA]) Posted on: Aug 16, 2022 6:40 PM
Message:

How well does Buildium interface with 3rd party repair or maintenance contractors? --174.59.xxx.xxx




Buildium: Pro & Cons? (by Bonanza [NC]) Posted on: Aug 16, 2022 6:51 PM
Message:

I am very interested in property management software but I just haven't had the time to research enough to pick one. so much stuff going on in my life right now.

I sure wish we could all somehow research this topic and come up with a "winner". --65.188.xxx.xxx




Buildium: Pro & Cons? (by Small potatoes [NY]) Posted on: Aug 16, 2022 10:10 PM
Message:

the biggest con I face is in accounting . buildium has you create an operating account and then accounts for each credit card etc,. buildium cannot reconcile credit card statements without going thru a 3 step process. first you enter each purchase from a monthly cc statement in the cc 'bank' account and select the category of the purchase and the property, then you enter the same lines in the operating account entry but you put "money in transfer" as the category. then you go back to the cc account and do step 3 w "money in transfer". 2 things, they could easily automate the 2 additional steps and you cannot select a unit in the building, just the building to which the charges are billed. if you were given a demo ask them about this. I'd like to know what they say.

Dodge, what 3rd party vendor do you have in mind? you can set up any vendor, choose how much access they have and send them work orders and receive invoices w pictures/ notes.

WMH, the appliance option must be new or only available at the higher level.

I'd also recommended trying the mobile app. it was useless and I would just log in from my phones' browser instead.

I've received better customer service recently since I've complained a lot but it has overall been worse since they were bought out a few years ago. I was on a first name basis w a rep back in the day and you could call or email. now you can Email but you get an automated reply and sometimes a rep sends you a help file article as an answer. my most recent frustration was when I had a Q about a Transunion report. Transunion said a code on the report was put there by buildium, I emailed buildium to no avail finally got a 2nd rep who did contact Transunion and I got a straightish answer. but they took over a week. sometimes they send an automated reply saying the 'case' is closed when they never solved my issue.

other con I have mentioned revolves around syndicated listings and zillow and still having to pay zillow and that not being seamless for a couple of years.

my other con is that they charge 30 if the prospect pays for the background check, but if I was set up it would be 15.i have no desire to pay this and try to get funds back from the prospect but it shouldn't cost them 2x. I cannot evaluate all the new features because at my basic level they are all add ons and I think it is expensive for the detroiating service. but may be to you and you pay more for all inclusive options it's worth it. from my perspective it seems like they added on things to milk customers for more money instead of saying hey we added more features for you. they used to say what can we do to make it better and they would listen and ititerate. the annual price would increase but that was to be expected. --172.58.xxx.xxx




Buildium: Pro & Cons? (by Otis [IL]) Posted on: Aug 16, 2022 10:32 PM
Message:

I used Buildium for about 2 months and just couldnt not get my head wrapped around the accounting portion of it. --24.245.xx.xxx




Buildium: Pro & Cons? (by GKARL [PA]) Posted on: Aug 16, 2022 10:58 PM
Message:

I feel I have pieces of systems as well that requires some degree of "insider knowledge" but I'm going to stick with my systems for now. My system is split between Google Forms, Turbotenant, QuickBooks, ClearNow and Cash app. I use Turbotenant for leases, esignatures and any formal notices like rent increases. I have tenants on various schedules, so QB is used for billing and accounting. Clear now is used to collect rent for all monthly payers. I'm an accountant, so the bookkeeping effort is easier for me. I have QB automated for certain recurring tasks. The systems work for me but I need to document and train my wife. --64.145.xx.xxx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 17, 2022 8:47 AM
Message:

I asked her about units vs. properties and she did have an answer but I forget what it was! Need to email and ask.

Accounting is huge - if I still have to maintain Quicken to track all that I want to track maybe Buildium is not such a great solution after all. If I can't download from my CCs but have to manually enter all transactions that's a HUGE step back from what I am doing today. --50.82.xxx.xxx




Buildium: Pro & Cons? (by Dodge [PA]) Posted on: Aug 17, 2022 9:26 AM
Message:

Thanks SP, that's along the lines of what I was thinking for 3rd party vendors. Would be great to have Buildium to track, document (for record and accounting) the work subbed out to others. --174.216.xx.x




Buildium: Pro & Cons? (by Small potatoes [NY]) Posted on: Aug 17, 2022 9:29 AM
Message:

I suppose if you only have the operating account you can just itemize that statement transaction to avoid the 3 steps. --172.58.xxx.xx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 17, 2022 10:31 AM
Message:

We have 3 accounts for each LLC: an Operating Account, a Security Deposit Trust Account, and a Money Market Savings Account that we use to stash away annual expenses like taxes and insurance.

We have 3 accounts for the two properties owned by the Trust: again, operating, savings and SD holdings.

Then we have Home Depot, Lowes and generic credit cards.

Plus personal accounts.

Not sure Buildium is going to work! --50.82.xxx.xxx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 17, 2022 11:22 AM
Message:

Well one misunderstanding cleared up. You can register 5 accounts that RECEIVE RENT PAYMENTS for free, more for $99 each. I would only need to receive rent payments in three.

Have another demo discussion scheduled for Friday. They are going to wish they never heard from me LOL! So many questions. --50.82.xxx.xxx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 17, 2022 11:22 AM
Message:

Well one misunderstanding cleared up. You can register 5 accounts that RECEIVE RENT PAYMENTS for free, more for $99 each. I would only need to receive rent payments in three.

Have another demo discussion scheduled for Friday. They are going to wish they never heard from me LOL! So many questions. --50.82.xxx.xxx




Buildium: Pro & Cons? (by 6x6 [TN]) Posted on: Aug 17, 2022 8:02 PM
Message:

If your confused, I would really be confused.

Robert J's method sounds much simpler --73.113.xxx.xxx




Buildium: Pro & Cons? (by small potatoes [NY]) Posted on: Aug 17, 2022 11:19 PM
Message:

WMH, Are the accounts you receive funds in the same ones you write checks against? I'm only one entity but where there are owners funds and partner payments they seem to have that covered. --24.194.xxx.xx




Buildium: Pro & Cons? (by Laura [MD]) Posted on: Aug 18, 2022 1:53 AM
Message:

I have had it for about 4 years. I use a fraction of the capabilities. The con is learning curve, but there is lots of support. I would not describe the system as intuitive.

FYI, it has built in electronic leases. My cost is $5 per lease/session signing....not per esignature. I love having lease templates that I can update and then send to tenants for signing/lease renewal. I love having a place to keep track of all my vendors.

Whenever I have a question about a property/tenant I can just go to Buildium for the info (assuming i have inputed the info). I like the Buildium app on my phone...I need to use it more.

WHM..I strongly expect Buildium will handle all your accounting needs/different entities, etc. It will just be multiple sessions with the help desk. Maybe several times to repeatedly explain how to do it. Complicated is the biggest con, but the support is excellent and they answer the phone in a timely fashion. --108.56.xxx.xx




Buildium: Pro & Cons? (by Wmh [NC]) Posted on: Aug 18, 2022 3:55 AM
Message:

Thank you!Moving forward! --50.82.xxx.xxx




Buildium: Pro & Cons? (by small potatoes [NY]) Posted on: Aug 18, 2022 9:06 AM
Message:

Laura, glad to hear the app has improved and you have had better customer support experience than I have. How do you handle credit card accounts? To utilize the electronic lease

do you have to have a tenant portal activated or is it just through email? I concur that it is great to be able to go into buildium to find info. I have done a better job entering files and photos recently. I don't go though all the steps of tasks/ work orders because I have been handling things myself mostly.

WMH, The most useful thing is to be able to print out a lease ledger that shows a tenant their payment history and where they got behind and they can confirm that are recorded, plus present it for court action. And Laura is correct it has a steep learning curve. I look forward to hearing how it goes for you. --24.194.xxx.xx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 18, 2022 10:59 AM
Message:

I have never had to produce a rent ledger as I have not been in court for such an action in years. But I could produce one even now using Quicken.

I am less concerned with actual Accounting right now than I am with:

Applications: background checks, uploading of supporting docs (DL, pay stubs, etc.) all in one place instead of Google Docs, Email, separate background check.

Leases and e-signatures in one place. Currently pay $180 or something for signatures, then have to download and save the signed file for my records. Maybe I will still have to do this, don't know.

ACH pulled payments from their account or Tenant Portal for making their own payments in one place - getting rid of all the payment Apps. One-biz-day-transfer of funds to my account, not sitting in Buildium accounts for 5-7 days as happens with some of the Apps like Cash App and Venmo.

Tracking of events and appliances and such. --216.12.xxx.xxx




Buildium: Pro & Cons? (by Laura [MD]) Posted on: Aug 18, 2022 12:48 PM
Message:

Small Potatoes...I only use a fraction of the capabilities. I know there is a credit card interface, but i have not used it. I just ledger expenses and rents received, nothing fancy.

Electronic leases, which I love (no tenant portal needed). Very easy the 5th time you do it, before that burdensome. I have not activated the tenant portal, but talking to support it seems easy. They even offered to do it for me. Just not sure I want (some tenants) to constantly make requests...or make it that easy for them.

Electronic leases:

-create a template

-update template with tenant info, rent, etc.

-send out for signing (pick order of who signs)

- send (cost for signatures is $5...that is for the entire document. There are about 20 places my leases need signing. Generally 2 tenants signing and me...cost $5. Both you and the tenant have copies of signed leases. You get notification when a signer has completed signing. Buildium stores the signed lease with the tenant info in Buildium. Well under 5 minutes the 5th time you do it. Does not include waiting for tenants to sign. It is all sent via email. Reminders are automatically send for tardy signers. --108.56.xxx.xx




Buildium: Pro & Cons? (by Otis [IL]) Posted on: Aug 19, 2022 12:04 AM
Message:

I guess the biggest problem I had with the accounting portion of it was I set up a bank account to collect the rent payments and linked it to Buildium. But I didnt have a beginning balance entered so it wouldnt let me enter any expenses. I know it was an error on my end. Im just not too tech savvy. --24.245.xx.xxx




Buildium: Pro & Cons? (by WMH [NC]) Posted on: Aug 19, 2022 1:15 PM
Message:

I signed up M2M until year end - I'll run parallel systems until then and make the decision later. But I need a new system and after research, Buildium seems to combine both price and features. We'll see!

Laura, I'm glad you are using it because I'm sure you did some research yourself. We will have it set up so my son and DH can also use it - B can be in charge of paperwork (leases, etc.) and G can be in charge of tenant repair portal. I'll handle the finances for now. --50.82.xxx.xxx




Buildium: Pro & Cons? (by Laura [MD]) Posted on: Aug 20, 2022 9:46 AM
Message:

WMHi will be interested in hearing what you think. It does have a learning curve. I suspect you will get deep i to some of its capabilities. Good luck. --108.56.xxx.xx





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