Juggling between the rent, lease, costs, maintenance, etc. of any property — be it condominiums, apartments, commercial estate, or office — can be cumbersome for you as a property manager. Why stress yourself with these issues when you can achieve Zen through a cloud-based real estate property management software like Buildium?
As a property manager, are you worried about tenant screening, property inspections, accounting and financial related headaches? Well, Buildium reduces most of your real estate or property management headaches through its broad features including rent management, financial reporting, and vacancy reporting.
However, for someone specifically looking to get help with areas like lease management and tenant management, Buildium may not be the best alternative. So what are the other options?
Here is a list of seven Buildium alternatives for real estate or property management software:
As you can guess by the name, AppFolio Property Manager (AppFolio) enables you to manage and track commercial, Homeowner’s Association (HOA), residential, and student housing across these portfolios.
Through AppFolio online portal, you can access reports, make online payments, and change the application password. Moreover, the Owner’s portal allows you to send text messages to your tenants free!
AppFolio enables you to synchronize your property data such as rent, vacancies on your website with AppFolio software to enhance marketing, manage your social media or even your blog. Further, if you need to gauge the rental market for a competitive rental price, then Appfolio Rent Comparison Tool — RentMatch (see image below), provides you with a competitive advantage over your peers in the market for selecting the right price point. Another marketing feature of AppFolio is its Real-time Vacancy Dashboard that provides a complete listing of your property, be it vacant or occupied.
AppFolio enables you to screen tenants as well as collect dues and rent online at no extra cost.
The software provides a flexible payment option of $1.25 per month/property unit with an additional onboarding fee.
- The software helps you with lead generation by letting you know when potential new tenants are looking for rental property, which most other property management software doesn’t offer
- Provides easy accessibility to your property management data through smartphones or desktops
- Provides reports related to maintenance requests from tenants
- Does not provide features to manage storage facilities and warehouses, as it only caters to residential and commercial real estate properties
- Financial statements and ledgers are easy to read, as mentioned by many reviewers on the Capterra website.
2. Rent Manager
Compared to AppFolio, Rent Manager is a more niche and simple type of real estate property management software. If you are keen on adopting a user-friendly software, then Rent Manager should provide a good alternative to Buildium.
The key feature of Rent Manager is the customizable platform to manage portfolios of various size across properties. The software allows you to manage your portfolios through customizable dashboards (see above), with widgets related to financial data, tenant information, etc. The software also includes User Defined Fields (UDFs) that automatically collect information related to rent, guarantee expirations, etc. You can also create ‘Add Wizards’ to control data specific to tenants or financial reports.
Though Rent Manager does not quote a price on its website, you can get more information on the price by filling a form on the software’s Request Pricing page.
- Allows integration of your company’s website with accounting, rent collection and utility billing features in the software
- Includes phone auto-dial feature to call delinquent residents or send alerts to neighbors
- Provides continuous backup of data online
- Rent Manager does not allow a credit memo to be entered as an invoice, which is a common feature in other software
Capterra reviewers warn that the software closes all window tabs simultaneously when you try to close one window, which is annoying if you are viewing multiple financial reports simultaneously.
If Rent Manager’s flagship feature is the customized user experience, Rentec Direct focuses on the financial and the operational aspects such as 1099-MISC e-filing system, work order management system, lead tracking tool, and automatically syndicating vacancies for you.
Apart from providing a general ledger, Rentec Direct is flexible regarding accepting credit card or Automated Clearing House (ACH) payments from tenants. Moreover, Rentec Direct acts as a tax assistant by enabling you to e-file 1099-MISC tax. In terms of operations, Rentec Direct’s work order management system enables you to keep a track of pending or ongoing repairs. In other words, keeping your tenants happy is easier with Rentec Direct. Another key feature that you may find convenient is Rentec Direct’s Ratio Utility Billing (RUBS), which enables you to enter the percentage or fixed allocation due from the tenant. The system then bills this ratio to the tenant.
Pricing of Rentec Direct depends on number of property units you would like to manage. For 100 property units, the software charges a monthly subscription of $65 under Rentec Pro plan and $75 under Rentec PM Plan.
- Effectively manages financial transactions such as e-filing 1099-MISC tax, billing transactions and automatic payments to tenants
- As per the user reviews on Capterra, the software provides a very receptive customer care support
- Doesn’t send work orders through SMS
- The software’s training videos aren’t updated frequently, so you may not understand the newest functionalities
This real estate property management software specifically caters to organizations managing condominiums and HOAs.
If you are a property manager with a core focus on managing community associations, then this software can prove ideal for your real estate community management. TOPS [ONE] is a web-based property management software that allows you to manage real estate by providing key performance indicators (KPIs) in the form of dashboards. The software’s financial statements transact automatically, which means that you can get a better overview of your finances without inputting billing or rental data manually. In addition, TOPS [ONE] also provides a customer relationship management tool (CRM) which enables you to manage different portfolios such as communities, properties, and banks.
Price quote of the software is provided on request.
- Software functionality specializes in HOA management, which makes it a clear choice for HOA
- According to Capterra customer reviews, the software can be easily configured with legacy property management applications
- According to Capterra customer reviews, the software does not provide frequent updates to resolve software bugs
This real estate property management software caters to fee managers, real estate owned (REO) or asset managers to manage financial reporting and tenants.
The software enables you to ensure error-free financial transactions between your bank account and the tenant’s bank account or vice versa, through Propertyware’s Owner portal that provides you an overview of the latest transactions.
In the Owner portal, you can view and easily manage tenant transactions such as rent paid, lease amount, and maintenance costs.
Propertyware’s Reporting tool enables you to generate reports as per the audit standards of the industry.
Propertyware costs $100 property unit/month for the Basic plan; $150 property unit/month for the Plus plan; and $200 property unit/month for the premium plan.
- The Owner portal is well-designed, which enables you to read reports and financial transactions more easily than some other real estate management software
- Capterra reviewers like the financial reporting and management platform better than other software in the market.
- Different color codes make property statements difficult to read
- The learning management system requires separate login credentials from the rest of the software
6. MRI Software
This software is available in two versions —MRI Commercial Management Software and MRI Residential Management Software. Depending on whether you deal with commercial or residential property, you can choose between the two.
One of the key features of this software is the lease management process. MRI software enables you to manage the property lease life cycle for commercial or residential properties. The software’s intuitive dashboard provides you an overview of the currently vacant properties along with the financial information of rent received and pending.
MRI Bostonpost is another software from MRI that enables you to list affordable housing options. In addition, the software features a dashboard, resident information, reporting, search results, and a mobile login.
For pricing information, contact the vendor for custom quotes.
- You can use SQL to query tables and reports, which is a feature not found in other property management software
- Navigation through the various window panes is easy and intuitive, as compared to other software in the market
- The software does not have a streamlined interface, which makes it difficult to view information
- Compared to other real estate property management software, data inputs such as vacancies and rents require manual updating
A distinguishing feature of this real estate property management software is that it customizes property management according to your business needs to increase productivity and reduce cost through its automation, reporting, accounting, and marketing features.
The software’s zero cost payment allows tenants to transfer payment to you through ACH, Visa, and MasterCard. This means that you do not have to worry about extra charges incurred on per-payment basis. You can also scan checks and print them from any of your bank accounts with MICR support. Through Property Matrix’s Enterprise Class Accounting, you can automate multiple recurring transactions, manage lease agreements effectively, and generate your own statements. In addition, the software’s Comprehensive Document Management feature enables you to upload documents, scan bills, and digitally sign electronic documents through electronic signatures.
Property Matrix offers customized prices for your business based on the number of property units under the Standard and Ultimate plans. For example, opting for 225 property units under the Standard plan would cost you $289 per month.
- Responsive and intuitive customer care support as compared to other property management software
- Property Matrix’s Enterprise Class Accounting platform enables users to more closely monitor cost and property maintenance
- The communications portal enables tenants to contact you to report their issues
- Capterra’s customer reviews don’t reveal any specific complaints
I hope these seven real estate property management software enhance your property management Zen! After all, managing rent, financial reports, and maintenance is no easy thing. Effective property management results from complete peace of mind, and choosing the right real estate property management software for your business helps with this. The ideal way to choose between the different software mentioned above depends on your management ‘mantra.’ Are you just focusing on enhancing your financial reporting, managing lease efficiently, or concerned about tenant screening? Well these are just some of the questions that you have to keep in mind while buying a real estate property management software as an alternative to Buildium.
Leave a comment below to let us know which other alternatives you can think to Buildium. You can also view Capterra’s Real Estate Property Management directory to get an insight on managing your property effectively.
Looking for Real Estate Property Management software? Check out Capterra's list of the best Real Estate Property Management software solutions.