Buildium and TenantCloud are 2 of the most well-known online property management software solutions for real estate investors. Both offer various features and tools, including listing syndication of vacant units, tenant screening and leasing, online rent collection, and financial and tax reporting.

We’ll take an in-depth look at Buildium and TenantCloud, including the key features and pricing plans, to help landlords understand which service may be a better fit for their specific needs. Then, we’ll review the free rental property financial management system from Stessa and why it might be a better choice for many landlords and property managers.

Key takeaways

• Buildium is a good option to consider for owners with one to 5,000 units or more, with pricing plans beginning at $50 per month.
• TenantCloud works with an unlimited number of properties and units with 4 pricing plans, including a free limited feature plan.
• Both software systems provide features including online listing syndication, tenant screening, online signatures, rent collection, financial reporting, and tax management.
• Stessa is free, cloud-based reporting and accounting software for unlimited properties and portfolios of single-family rentals (SFRs), multifamily homes, and short-term vacation rentals.

Buildium overview

Buildium is a property management software solution for real estate investors and property managers with one to 5,000 units or more. The software can be used for all types of residential property, including rental properties, student housing, and community associations.

Buildium was launched in 2004 by real estate investors with the mission of making property management uncomplicated and easier to control.

Residential pricing

There are 3 different Buildium pricing plans to choose from. All options include software modules for Accounting, Maintenance, Tasks, Violations, Resident & Board Member Communications, and Online Portals.

Essential

• Starts at $50 per month
• Basic tenant screening
• Standard reports
• Ticket customer support
• Property inspections starting at $40/month
• eSignatures $5/signature
• Bank account setup fee of $99/account
• Online payments fees of $1.00 for incoming and $0.50 for outgoing electronic funds transfers (EFTs)
• Credit card fees of 2.95% per transaction

Growth

• Starts at $160 per month
• Basic and premium tenant screening
• Standard reports
• Ticket and live phone customer support
• Free property inspections
• Unlimited eSignatures
• First 5 bank account setups free, then $99/account
• Online payments are free for incoming EFTs, $0.50 per transaction for outgoing EFTs
• Credit card fees are 2.95% per transaction

Premium

• Starts at $460 per month
• Basic and premium tenant screening
• Standard reports
• Ticket, live phone, and priority customer support
• Free property inspections
• Unlimited eSignatures
• First 5 bank account setups free, then $99/account
• Online payments are free for incoming EFTs, $0.50 per transaction for outgoing EFTs
• Credit card fees are 2.95% per transaction

Software features

Accounting

• Property accounting
• Company financials
• Online payments
• Retail cash payments
• 1099 eFiling

Business operations

• Owner portal
• Property inspections
• Resident site
• Maintenance request tracking
• Analytics and insights
• Document storage
• Renters insurance
• Open application programming interface (API)

Leasing

• Rental listings
• Showings coordinator
• Rental applications
• Tenant screening
• Professional website
• eSignature

Community Association Management

• Accounting and budgeting
• Online payments
• Maintenance request tracking
• Violations tracking
• Board communications
• Document management

A dedicated team at Buildium makes switching software and onboarding easy, and the company claims to employ industry-leading data security measures to protect customer data.

TenantCloud overview

TenantCloud is an affordable and full-featured property management software solution that provides tools for listing vacant rentals, screening tenants, and collecting rent online. 

According to the company’s website, the company is currently used by more than 2 million landlords in all 50 states and 40 countries worldwide.

In January 2022, TenantCloud was ranked as the seventh-best reporting and accounting tool for landlords by Landlord Gurus, a company that provides advice to landlords and property managers. When creating the list, Landlord Gurus considered key criteria, such as income and expense tracking, bank account integration, reporting, and tax preparation.

Pricing

There are 3 TenantCloud pricing plans, plus a custom pricing plan for investors and property managers with sizable rental property portfolios. All options include an unlimited number of properties and units, an unlimited number of online rental listings, a 20% discount for customers who pay annually, and a free 14-day trial.

Free

The Free plan provides basic features and is a good choice for investors trying TenantCloud out. Users can keep the Free plan forever or subscribe to a higher plan. Features include:

• Listings
• Scheduling
• Applicants
• Screenings
• Rent payments
• Maintenance requests
• Vendor network access

Starter

The Starter plan costs $15 per month and includes everything in the Free plan, plus additional features, such as Google Calendar syncing and tax reporting:

• Premium leads for online listings
• Lead tracking for customer relationship management (CRM)
• eSignature
• Autopay for tenants
• Tax reporting and more
• Google Calendar sync

Growth

The Growth plan costs $50 per month and is recommended by TenantCloud as a good option for landlords with small and medium-sized portfolios. The plan provides additional functionality, such as an individual owner portal and QuickBooks Online syncing, and includes everything in the Free and Starter plans, plus:

• Lease builder
• Individual owner portal
• Property manager tools
• Management fees
• Property message board
• QuickBooks Online sync

Business

The Business plan offers customized pricing based on features selected and may be a good choice for property managers, according to TenantCloud. The plan includes everything in the Free, Starter, and Growth plans, plus:

• Team management and tools
• Task management
• Customization

Software features

• Automatic listing syndication to TenantCloud listing partners, including Apartments.com, Rentler, and Zillow Group
• Ability to create a custom listing website with landlord information, photos of vacant units, and a customized rental application
• Rental applications online with a customized application template, screening questions, and receipt of application fees online
• Tenant screening from TransUnion with 3 packages to choose from, including identity verification and background check
• Landlord form templates for tenant lease agreements, owner agreements, state-specific documents, and notices to tenants
• Ability to upload a lease agreement or customize one using the agreement template and request eSignatures from tenants
• Ability to send and receive debit card, credit card, and Automated Clearing House (ACH) payments online or with a mobile phone
• Autopay for tenants to set up recurring monthly payments directly from their bank accounts and enable automatic late fees
• Ability to receive maintenance requests online, including videos and pictures from tenants for needed repairs, the ability to assign the job to a service professional, and track job progress

Buildium vs. TenantCloud

Both property software solutions are relatively inexpensive and offer a wide array of features. Here are some of the similarities and differences between Buildium and TenantCloud based on the main features that most real estate investors and property managers use.

Listings

Buildium offers a free website with every pricing plan. After posting a vacant listing to the owner’s website, listings are automatically syndicated and marketed through various online listing sites, including Apartment List, Craigslist, Facebook Marketplace, PadMapper, the entire Zillow Rental Network, and Zumper.

TenantCloud provides a free listing website with the Growth and Business plans with pricing beginning at $50 per month. Listings are automatically posted to listing partners, including Apartments.com, HotPads, Oodle, Rentler, Trulia, and Zillow Group.

Tenant screening

Buildium tenant screening is processed by TransUnion. The tenant screening process begins once a landlord requests a background check. Full credit, eviction, and criminal history results appear on the owner’s dashboard. An applicant is notified if they have been accepted or rejected, and tenant information is added to the Resident Center to begin receiving rent payments online.

TenantCloud also partners with TransUnion to provide thorough tenant screenings. After a potential tenant submits an online rental application, a landlord can choose from one of 3 screening packages and purchase or require a tenant to pay. Screening reports include a background and credit check, a National Eviction Records search, and a credit check. 

Leasing

Buildium eSignatures help facilitate the lease process online and collect applicant signatures, application fees, and security deposits from any computing device. Landlords can create lease templates, have leases and addendums e-signed, and securely stored online for easy document access anytime and anywhere.

TenantCloud offers the option of uploading a lease agreement or building a lease agreement template online to save time and then inviting tenants to e-sign. When creating a lease, there are options for setting up the rent amount, security deposit, and other fees such as pet rent and utilities. A landlord may also require a tenant to purchase renters insurance or provide their own, as long as landlord-tenant laws allow.

Online rent collection

Both Buildium and TenantCloud offer options for collecting tenant rent payments online, creating autopayments so that the monthly rent is automatically deducted from a tenant’s bank account, assessing late fees, receiving partial payments, and accepting debit and credit card payments:

• Buildium: EFTs vary from $0 to $1.00 depending on the pricing plan, while credit card fees are 2.95% of the transaction amount.
• TenantCloud: All pricing plans allow tenants to pay rent online with a debit or credit card, while ACH rent payments are limited to paid plans. Dwolla processes ACH payments, credit/debit card payments go through Stripe, and fees vary based on the payment processor selected.

Financial reporting

Buildium makes rental property accounting easier with online bill payments and automatic entry of recurring expenses. Comprehensive accounting reports include monthly profit and loss, income statements, cash flows, bank reconciliations, and real estate balance sheets with just a few clicks.

TenantCloud offers reports with paid pricing plans, including profit-and-loss statements, general expenses, general income, deposits summary, and property owner statement. In addition, data can be exported with all plans in all major formats, while QuickBooks Online sync is available with the Growth and Business plans. 

Tax management

Both Buildium and TenantCloud provide landlords with tools to manage taxes, including income and expenses, management fees, depreciation, and interest expense to prepare Schedule E and file 1099s.

Stessa vs. Buildium and TenantCloud

Both Buildium and TenantCloud provide a full suite of property management tools. However, there may be features that small-rental-property landlords do not need. 

That’s why Stessa developed a rental property financial management system that’s 100% free.

The software was created by and for real estate investors, which is why Stessa is easy to use to keep track of rental property performance at both the property and portfolio level, manage finances, and create the record trail that all real estate investors need. Stessa was also ranked as the best overall reporting and accounting tool for landlords by Landlord Gurus.

After signing up for a free account with Stessa, entering basic property information, and linking bank and mortgage accounts, real estate investors can:

• Track an unlimited number of SFRs, small multifamily properties, and short-term vacation rentals.
• Make it easy for tenants to pay on time, and automate key tasks like deposits, receipts, and accounting.
• Monitor rental property investments from a single, comprehensive dashboard to make better, more informed decisions to optimize performance and returns.
• Automate income and expense tracking and post transactions by line item.
• Reliably and automatically track income and expenses with unlimited free business or sole proprietorship accounts, which allow you to open a dedicated account for each rental property or portfolio.
• Generate numerous monthly financial reports, including income, net cash flow, capital expense statements, and real estate balance sheets.
• Organize and store all real estate documents safely and securely in the cloud.
• Track expenses on the go with the iOS and Android apps.
• Export tax-ready financials.

When the end of the year rolls around, the Stessa Tax Center makes tax season a breeze for real estate investors. Users can receive a personalized Stessa Tax Package with aggregated property transactions, including an income statement, net cash flow report, and a ZIP file in a single email.

Final thoughts

Stessa, Buildium, and TenantCloud provide accounting and reporting software solutions for landlords and property managers.

Investors looking for a top-ranked, free, cloud-based financial reporting software may find Stessa to be the perfect choice. More than 100,000 investors already use Stessa to track over 250,000 properties with over $60 billion in asset value.

On the other hand, Buildium and TenantCloud may be good options for landlords looking for a full suite of property management tools. Both companies offer different pricing plans and features, although neither was ranked as highly as Stessa for reporting and accounting tools for rental property.