LandInvestors.com Forums +Resources for Success+ Buildium.com for property management

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  • #1043

    Luke Smith
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    Post count: 1263

    I use this site almost daily:buildium.com

    This online software is meant for property management companies but I use it to manage my own properties. The renters can log into their account and see what rent they have or have not paid, late fees ect. They can pay online too(my renters are all in Detroit and not the kind who use banks so they usually just pay cash). The vacant land buyers should be expected to use banks and do electronic payments, but I like cash too. I’m trying to figure out if I can set up electronic payment to one master account or if it would be better to direct payment to each sub account.

    My favorite part is that you can keep track of multiple owners. My friends, family ect who own rentals I manage can log into the owner side of the site to see their numbers. They can see all the different deals they are into combine or one by one to judge them too. They can run reports to their hears content on all the data.

    When tax time rolls around it is easy to use this data to produce 1065’s and all my partners K1’s.

    Thinking and hoping I can use this software to manage land deals. Where I put the terms of the leases in I can put the terms payments in there. I can set it so I see when I am to transfer the land over on my dashboard like rolling over leases for rental houses.

    Late fees are easy to program in if I want to charge them.

    I can see who is late or what money is expected and when.

    Can keep track of bills due and budget for them(taxes in my big one in Detroit).

    I can keep track of vendors, expenses and all kinds of junk that should be the same kinds of tools a land dealer would like to use too.

    Customizable online applications.

    Budgeting.

    All kinds of property management tools in there.

    You can have different users with different levels too.

    Way cheaper than the competition. I tried a bunch of them to boil down to this one.

    Anyone else out there familiar with this one?

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