Choosing the right property management software is one of the most important decisions you’ll make when scaling a property management business.
Buildium® and Propertyware® are two all-in-one property management software solutions, each with a comprehensive set of features and each with its own unique strengths that serve property managers at varying stages of their business and portfolio development.
So which one is right for your property management business?
This post (and the video below) will help you compare and contrast the two platforms to help you determine which one is better suited to meet your specific needs.
What Are the Benefits of All-in-One Property Management Software?
Success in property management hinges on finding the right tech solution. Here are some other advantages you’ll see when you select the ideal software for your business.
Numbers to Help You Grow
No matter how much you trust your gut, relying on data is the best long-term solution for the health of your business. The right software can help you measure everything from profits to average turnover on properties. Insights can point out blind spots in your business and give you a proactive view of how to grow it.
Make Managers, Staff, and Tenants Happier
So many aspects of the property management business were designed to be automated. Whether it’s collecting rent or tracking expenses, an all-in-one solution can help automate and streamline workflows to make your team more efficient. With the extra time and resources, you can focus on working on high-value projects that improve the tenant experience.
Strong tenant relationships mean longer lease agreements. Longer stays mean more referrals, lower turnover, and higher profits.
Communicate Effectively
Updates, no matter how big or small, are important in building trust. Property management software can facilitate effective communication between property owners, tenants, and property managers, guaranteeing that everyone is informed.
Minimize Expensive Vacancies
An automated lead-to-lease process not only helps fill vacancies more quickly, but also helps you select the most qualified tenants. When evaluating an all-in-one solution, identify features that will help you in every step of the lead-to-lease process such as marketing, syndication, background checks, and eSigning.
What Is Buildium?
Buildium is a leading all-in-one property management software that provides extensive capabilities, empowering property businesses to expand their management portfolio, regardless of their size.
As a platform purpose-built for property management, it serves property managers with a range of portfolios, including single-family, multifamily, and community associations.
Features
Buildium includes a full set of features to help property managers operate more efficiently, stay competitive, and take on new clients and doors, including:
Lead to LeaseÂ
Despite its extensive list of features, Buildium simplifies the lead-to-lease process by streamlining your workflow in one platform. From scheduling showings all the way to signing the lease, Buildium automates the most time-intensive tasks every step of the way. Track and manage every lead, tenant, and employee in one highly visible pipeline, so you don’t have to hop from one software to another.
Intelligent Data ReportsÂ
Data helps you make informed decisions about how to grow your business, like improving your least profitable properties and identifying your most profitable ones. Buildium’s data reports and analytics tools help you track, measure, and optimize your most important growth metrics such as turnover, resident feedback, and revenue. Get a bird’s-eye view of your rental reports, tasks, finances, and bank transactions in simple-to-use dashboards.
Owner PortalsÂ
Communication between owners and property managers is crucial, but can be time-consuming. Losing track of important information in convoluted text exchanges and email threads can be avoided altogether with the right technology. The Owner Portal is a central hub that allows you to share finances (with owners), collect payments, exchange documents, and communicate with owners and tenants.
Property AccountingÂ
Let the software do the number crunching with accounting features specifically built for property management businesses. With Buildium, you can track every transaction, manage accounts payable, and reconcile bank accounts automatically. You can send and receive electronic payments securely, record and track every transaction automatically, and gain a quick overview of payment activity with Buildium.
Buildium makes tax preparation easy, with capabilities to remind you of key deadlines and track the status of tax forms. Additionally, you can e-file form 1099s automatically at tax time, saving you a lot of time and stress.
Marketing
Buildium’s marketing tools will help you get your vacant properties seen, generate leads, and fill vacancies with tenants quickly. The intuitive point-and-click website builder helps you build a brand while the listing syndication services get your listing uploaded to every major listing site in minutes.
Mobile AppsÂ
Property management is a 24/7/365 business. Buildium provides top-rated mobile apps for property owners, managers, and tenants that make it easy to communicate, manage work orders, and collect payments on the go—no matter where you are in the world.
Maintenance Contact CenterÂ
You can’t be in 10 places at once. Managed and operated by trained professionals, the Maintenance Contact Center service operates 24/7/365 to handle service calls, field emergencies, deflect onetime questions, prioritize maintenance requests, and resolve cases without having to staff up.
Vast Partner EcosystemÂ
If you need features beyond what Buildium offers, the Marketplace provides an ever-expanding list of partner solutions that integrate seamlessly into Buildium to help grow your business. They also offer an open API that allows you to exchange data with any existing software or your own proprietary software.
Customer FeedbackÂ
Buildium currently has 4.5 stars (2,005 reviews) on Capterra, 4.4 stars (196 reviews) on G2, 4.5 stars (2k reviews) on GetApp, and 4.5 stars (1,996 reviews) on Software Advice.
Pricing
Buildium offers three tiers of pricing. Each of these plans includes:
- Accounting
- Lead-To-Lease Management
- Maintenance
- Online Portals
- Resident Communications
- Task Management
Essential: Starts at $55/month and includes Buildium’s core features, including accounting and task management tools.
Growth: Starts at $174/month and includes reduced incoming ACH fees, unlimited eSignatures, and actionable insights in Analytics Hub.
Premium: Starts at $375/month for property managers who want to automate their workflows. It includes everything in Growth, unlimited incoming ACH (fees waived), plus access to Buildium’s Open API and Priority Support.
What Is Propertyware?
Propertyware is an all-in-one property management platform designed for single-family property businesses. Their portfolio-level accounting and reporting features stand out as they simplify accounting and provide important data insights to help property managers grow their business. On top of their wide range of customization options, they are also designed for multi-location management.
Features
Property Accounting: Propertyware offers portfolio-level accounting to manage your property business. Their budgets and custom reports make it easy to see the financial health of your business. Keep track of accounts receivable, manage your vendors, reconcile your accounts, and collect fees in a few clicks.
Website Builder: Propertyware’s website builder gives you a library of ADA-compliant templates that are designed specifically to convert leads for property businesses. They are all mobile-responsive and integrate features such as listing your properties and contact forms, so you can track all your website performance and leads within Propertyware. For more robust features, they also offer development services for further customization.
Maintenance Lifecycle Management: Propertyware offers a maintenance management portal that allows you to manage maintenance tasks, invoice vendors, upload inspection pictures, and more. The Maintenance Contact Center connects residents to live agents who help manage every maintenance request. The Leasing Contact Center helps answer and convert prospect calls.
Tenant and Owner Portals: Make sure owners, managers, and tenants are on the same page with portals that are accessible from any device. The ability to pay rent online eliminates lost checks, improves on-time rent payments, and provides an additional income source through digital payment fees.
Customer Feedback
Propertyware has a rating of 3.9 stars (305 reviews) on GetApp, 3.9 stars (305 reviews) on Capterra, 3.82 (289 reviews) on Software Advice, and 3.7 stars (27 reviews) on G2.
Pricing
Propertyware has three pricing plans: basic, plus, and premium.
Basic begins at $1 per unit per month, with a $250 minimum, and an implementation fee that is 2x the subscription price.
Plus begins at $1.50 per unit per month, with a $350 minimum plus an implementation fee that is 2x the subscription price.
Premium begins at $2.00 per unit per month, with a $450 monthly minimum plus the implementation fee.
Add-onsÂ
Propertyware has additional features you have to pay for depending on your usage, including:
- A maintenance contact center for $1.10 per unit per month with a $300 setup fee
- A leasing contact center for $2.85 per unit per month with a $300 setup fee
- A professional website for $99 per month with a minimum setup fee of $500. Asset protection starting at $12 per policy per month.
Head to Head: How Do Propertyware and Buildium Compare?
While both software offers a similar range of features, let’s get a detailed look at how they compare next to each other. A side-by-side comparison can help paint a clearer picture of where each software shines.
Lead-to-Lease Services
Without comprehensive property management software, the step-by-step process of someone becoming a lead to signing the lease is long and complicated, made extra complicated by all the paperwork involved. Buildium offers a streamlined workflow from every step of the process:
- Rental listing syndication
- Drag-and-drop website creator
- A rental application management dashboard
- Showings coordinator and automated reminder notifications
- Tenant background checks powered by TransUnion
- Electronic signatures powered by Dropbox Sign
- Renters insurance powered by MSI
Propertyware also offers similar lead-to-lease features including:
- A templated website creator
- Lead tracking
- Rental listing syndication
- An application portal
- Tenant screening
- Electronic signatures
- Leasing contact center
Both software solutions have similar capabilities. Propertyware shines when it comes to businesses that require lots of customizable options. Buildium’s strength is in its wide range of features and integrations available right out of the box.
Online Rent Collection
Buildium collects rent, fees, and bills online automatically. Residents can upload their payment credit cards and bank accounts directly onto the Resident Center and set up recurring payments. You can also pay owners and vendors, while every single transaction is recorded in your accounting platform.
Owner Portals on Propertyware allow you to transfer or receive money. Tenants can also pay rent online with their checking/savings accounts or credit cards. If tenants can’t pay rent online or prefer to pay in cash, Propertyware’s Cash Payments gives tenants alternative options to avoid late fees and penalties.
Property Management Accounting
Buildium offers precise bookkeeping for property managers to know the ins and outs of their business. Buildium offers real-time dashboards and makes it easy to send and receive electronic payments securely—which are all recorded automatically. They also offer advanced 1099 e-Filing, so you can prepare your 1099 in minutes and send them before filing even officially opens with the IRS.
Propertyware allows you to access vendors, bills, payments notes, and documents in one location. Manage accounts receivable, accounts payable, and reconcile with your bank accounts quickly.
They also offer customizable reports that allow users to choose from a comprehensive set of data points to set up reports with as little or as much detail as they need. Finally, it includes budgeting features to facilitate business growth.
Maintenance Management
Buildium’s robust maintenance management features reduces paperwork and automates every task. Residents, owners, and staff can submit work orders, add videos and images, and track vendor performance. Buildium integrates with your accounting system so you can pay your vendors automatically.
Similarly, Propertyware offers a bird’s-eye view of vendors and tasks. The software standardizes work orders and dispatches service technicians through the Maintenance Contact Center. Buildium also offers a 24/7 Maintenance Contact Center that helps field and solve maintenance requests. However, Buildium’s strength is in its integrations as it connects with Rocket Station for sourcing virtual staff and Property Meld for automated service request management.
Communication Portals
Buildium has two primary communication portals: Resident Center and the Owner Portal. Resident Center allows tenants to view their finances, submit maintenance requests, make payments online, and communicate with the property manager or other tenants. Property managers can grant owners access to important documents, financial reports, and rent collection through the Owner Portal. They can also send notices to owners by email or physical mail.
Propertyware also has Tenant and Owner Portals that provide two-way communication. Owners get to see the performance of their portfolio, while tenants can communicate with property managers and pay rent online. Overall, the features are comparable between the two software.
Integrations and Open APIs
Not all property businesses have the same needs, which is why flexibility is key for all-in-one solutions. If you’re looking for features outside of what Buildium and Propertyware offer out of the box, they provide integrations and an open API to expand your capabilities.
Propertyware integrates with a handful of external software, including SuiteSpot, GigTel, PropertyMeld, PATLive, Showdigs, and AvidXchange. Buildium has a growing partner marketplace of integrations that work out of the box, without any custom coding required.
Both Buildium and Propertyware have open APIs that allow PMs to pass your data to wherever you need – whether it’s existing software or software built on your own.
You can link Buildium’s data with external tools and systems programmatically with their open API. Buildium also allows you to create self-service API keys, so you can generate keys anytime and anywhere. This is all hosted in Buildium’s developer portal, where you can manage your integrations in one place.
Whether it’s customizable reports or building dashboards, Propertyware’s biggest strength is its customization. It starts with their API that supports two-way data connection, which means you can freely pass data back and forth from any software of your choosing. Propertyware also includes custom fields that allow more customization in the dashboard.
Customer Support
To use all-in-one software to its fullest, onboarding and education are crucial. Buildium partners you with an Onboarding Specialist to walk through the ins and outs of Buildium. With Stevie Awards for Outstanding Customer Service eight years in a row, Buildium offers exceptional support. They also offer a Help Center and self-guided online training program called Buildium Academy.
When signing up with Propertyware, you’re paired with an Implementation Consultant (IC) who walks you through the implementation process. Additionally, they offer custom one-on-one training sessions, daily webinars, and even on-site training to cover all the roles and responsibilities within your organization. They also offer video training courses called Propertyware University.
Pricing
While both software provide a range of customizable pricing options, they start at different baseline price points. Buildium’s Essential plan starts at $52 per month, whereas Propertyware has a $250 monthly minimum and an implementation fee to get started.
Propertyware has really strong customizable features where you pay for only the features that make sense for your business–including a website builder and the maintenance contact center. Buildium offers a free 14-day trial and additional discounts up to 15% off your annual subscription through their rewards program.
Buildium vs Propertyware: What’s the Verdict?
The right software ultimately depends on your needs. Buildium comes with a wide range of features out of the box, packaged in an easy-to-use interface and highly rated mobile apps. Propertyware is more customizable for property businesses who have very specific needs across their single-family portfolio. What’s best really depends on your portfolio and your business.
Take the first step to finding the best solution for your tenants and your business, risk-free. Buildium offers a free 14-day trial with no credit card required. Get started today.
