Buildium: Property Management Software Built By Property Managers
Buildium founders Dimitrus Georgakopoulos and Michael Montiero understand what property managers want from software -- because they are property managers themselves.
In 2000, they bought their first rental property, in Providence, Rhode Island. In two years, they added two more, but became painfully aware of the effort it took to keep track of all the details and paperwork. Thus began a garage startup (in Quincy, MA) and the very beginnings of Buildium. By 2008, the company had 500 customers. By 2012, it served 5000 customers and made the Inc. 5000 list.
Buildium streamlines your business, setting up shop in 30 days or less, from your laptop, iPad or mobile phone. Accounting features include company financials, online payments, and financial reporting. Business operations include maintenance request tracking, document storage, and the ability to address renters insurance right at lease signing. A partnership between Buildium and HappyCo allows property managers to inspect units directly from any mobile device.
The leasing feature allows you to manage your rental listings, get leases locked away with eSignatures, and screen tenants with comprehensive criminal, credit, and eviction reports.
You can also build your brand by creating a free, customizable website which lets you post rental listings.
The platform features a cost-savings calculator which allows property managers to predict potential savings. Questions include “What is your hourly property management labor cost?” and “On average, how many phone calls do you have with tenants, vendors, property owners, etc. each day?” The results can help you calculate cost savings per month and hourly savings per month.
Buildium conducted a usage case study with Peter Cook and his team at Annapolis Property Services. The use of the software resulted in a reduction of non-sales-related call volume by 35%, maintenance request response time cut by 80%, and a payout of $500,000 to over 300 property owners electronically in less than an hour a month.
Another case study involved Bobby Russon, who had bought Impulse Property Management. What he wasn’t expecting: angry tenants and owners, and an accounting system in chaos. According to the study, within one month of implementation, Russo’s on-time payment had increased by 98%, and he was able to improve and mend relationships with tenants and owners.
According to the Buildium website, the platform is used by over 12,500 property managers, 175,000 owners, and a million residents in 46 countries.
Buildium offers an onboarding team to help you switch your software, as well as a customer care line. The site features a library of guides and reports for property managers, including a guide to social media, what it takes to create a perfect lease, how to write listings, and the five steps necessary for tenant verification.
Click here to find out more about Buildium.