The AppFolio vs. Buildium debate is relatively common among individuals who need property management solutions.
Both of these are popular platforms used by thousands of property owners and administrators to manage both commercial and residential properties. That said, each one has its own set of key features, so it’s essential to understand the different software options in order to choose the best one.
We’ll start by analyzing AppFolio, a property management software option that helps landlords manage multiple units.
AppFolio Overview
In this section, we will analyze AppFolio’s marketing capabilities as well as all the other features that make it a leading platform.
AppFolio is a cloud-based property management solution. It’s designed for landlords who have a large portfolio size, so it can only be implemented by managers in charge of 50 or more units.
Founded back in 2006, AppFolio established is a well known software among property managers.
AppFolio Key Features
The main functionalities of AppFolio include:
- Property management features
- Analytics for real estate investors
- Features that give decision-makers more clarity
Not only this, but AppFolio’s AI leasing assistant can handle basic yet necessary tasks, like scheduling showings and even tenant screening before showing vacant units.
AppFolio Pricing
How much does AppFolio cost? As we just mentioned, the platform has three distinct pricing plans: the Core plan, Plus plan and the Max plan.
Managing multiple properties is not enough to sign up for the app. AppFolio actually requires a minimum number of units in order to get started with the core plan and the minimum monthly cost is $298.
AppFolio Pros and Cons
AppFolio allows you to collect rent, set up automatic late fees, create a marketing website and other features that help grow your portfolio size. However, AppFolio does not offer full banking capabilities.
Now, it’s important to note that, even on premium plans, there are pros and cons to using AppFolio.
Pros
Through AppFolio, you can delegate parks of the tenant screening process, including credit, eviction, and criminal checks.
Additionally, some of the features that every real estate investor and property management expert will find valuable include:
- Customizable interface and set of features
- Cloud-based and requires no installation
- Ability to create a website for marketing
- Online tenant portal that can be personalized
- Accounting and financial reporting abilities
- Simplified listing syndication
- A tool that analyzes rental prices
- Online owner portal and mobile application
- Around-the-clock support
- Clear and user-friendly interface
- Several customer support channels, including chat, phone and email
Cons
Property owners that use AppFolio have a ton of extra features available. Some of these additional property management capabilities have additional costs, so it’s important to pay close attention if you’re using this platform for maintenance management.
Moreover, some things you should look out for include:
- It’s expensive
- Not best fit for landlords with less than 50 units
- Limited basic integrations
- Significant learning curve for new users due to all the features
- Challenging to reach a human due to all the self-serve care options
- Transition from old software isn’t always smooth
- Three pricing ranges limits flexibility
- Variable onboarding fee
- Poor reporting features
Buildium Overview
What many don’t realize when comparing these two is that Buildium is actually older than AppFolio. Buildium was released to the market in 2004 as a way of simplifying the job of property managers.
Buildium Key Features
When comparing Buildium vs AppFolio, it’s easy to see why they are such close competitors.
Both share some of the same features, including:
- Property inspections
- Online payments
- Tenant screening
- Online portals
- Screening tenants
Buildium Pricing
Buildium property management software has three distinct pricing options.
These are the Essential plan, Growth plan and Premium plan. At the time of writing, monthly pricing starts at $58, $183, and $375, respectively.
There is no minimum number of units required to use Buildium, pricing selection not withstanding. That said, property owners with a few units can opt for the most affordable option and upgrade their plans when necessary.
Buildium Pros and Cons
Pros
- A comprehensive list of features
- User-friendly, intuitive interface
- Customizable appearance and capacities
- Powerful basic integrations
- Mobile application for landlords
- Extensive customer support resources, including a knowledge base
- Bank account setup available
- Basic and advanced tenant screening
- Various customer support channels
- Standard reporting
- Features for property accounting, company financials, and 1099 filing
Cons
- Premium plan and growth plan prices are relatively expensive
- A huge list of features that can get confusing
- Lack of robust data security
- Limited reporting features
- Maintenance tracking abilities are relatively basic
- No 24-hour support line
- Doesn’t have intelligent leasing task automation
Baselane vs AppFolio and Buildium
You need to research all alternatives when looking at property management software like AppFolio and Buildium, including Baselane.
Baselane is a powerful all-in-one platform that offers banking built for landlords, online rent collection, automated accounting, reporting and other premium features including insurance, loans, tenant screening, lease creation and renters insurance.
Banking Built for Landlords
- No monthly fees or minimum balance requirements.
- Unlimited checking accounts and savings accounts per property to organize income, operating expenses, security deposits, projects, and more.
- Earn up to 3.35% APY2 and unlimited 1% cash back3 on debit card purchases.
- Physical and virtual debit cards with spend controls and Schedule E auto-tagging.
- One-time and recurring payments and transfers.
- No-fee cash deposits and withdrawals at over 55,000 Allpoint ATMs.
- Mobile check deposits and on-demand checkbooks.
Hassle-Free Rent Collection & Tenant Management
- Free online rent collection for landlords via ACH and card.
- Automated rent payments, reminders, and late fees.
- Real-time payment notifications and payment tracking.
- Dedicated Baselane tenant portal with auto-pay option.
- Tenant screening reports.
- Digital lease documents and e-sign.
- Maintenance and repair request management.
Accounting Built for Rental Properties
- Automated income and expense tracking.
- Consolidated ledger for Baselane banking and external account transactions.
- Capture receipts and add notes.
- 1-click categorization with 120+ real estate-specific categories based on Schedule E.
- On-demand financial reports and downloadable tax package.
- Real-time cash flow analytics by property.
Final Thoughts
In addition to taking care of maintenance requests, monitoring online rent payments, and performing tenant screening, property managers have to ensure that property owners stay informed and happy with the performance of their units.
Having an army of assistants is not cost-effective, or even necessary. The best property management software comes packed with carefully designed features that help you complete important tasks, regardless of your portfolio size.
Looking for a powerful property management software solution to help you manage your units? Baselane is here to help. Watch our demo or sign up for free today.
