Buildium vs AppFolio for Larger Portfolio

Buildium vs AppFolio for Larger Portfolio

Member since 2020 · 7 posts · 4 votes

Hello all, I am looking at the various property management software companies and believe I have narrowed down to Buildium and AppFolio for my needs (also considered Yardi Breeze, Rent Manager, Rentec Direct).

I have seen multiple people post to go with AppFolio for a larger portfolio over Buildium, specifically have seen people say to go with it if your portfolio is 150 units+.  I currently own and manage 300 units (made up of a few larger apartment complexes) and want software that will work well if I were to double or triple to 600-1,000 units.  In comparing the two, it seems to me that Buildium has more to offer at a slightly lower price point and want to ask if people could please elaborate on why they feel AppFolio is better for a larger size portfolio?

The benefits I am seeing with Buildium include:

-Free Website (whereas you have to pay for one with AppFolio)

-Seems to be better accounting program, with transaction automatically synced with your bank at reconciliation

-Quicker rent deposit processing time (1 business days vs 2-4 with AppFolio)

-Cheaper onboarding fees

-Application fees can be paid by prospective tenants using ACH (not just CC)

Those pros at a cheaper yearly fee and so far haven't seen a benefit AppFolio has that Buildium doesn't.  Would love to hear the reasons why multiple people have said that AppFolio is better the larger you get as I want to see what I am missing in my comparison!

Thanks so much!

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Simon W.Business Member
Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 670 votes
4y

I wouldn't switch to RentVine if you plan to go big. There are more people who are versed using AppFolio then RentVine. If you ever had to hire people, pick the platform that will require less training.

Just my 2cents.

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  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 670 votes
    5y

    Go with the leader in the industry, Yardi. Yardi Breeze is just the simplest/cheapest tier. 

    Look into Yardi Breeze Premier and do a comparison to see if it works well for you.

    Buildium/Appfolio will look like loose change compared to Yardi Voyager.

    I personally used Yardi Voyager for the past 15 years and love it.

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  • Rental Property Investor · Winnebago, IL · Member since 2013 · 80 posts · 56 votes
    5y

    Yardi looks interesting, I'd look into that more. I have Buildium for the SFR we manage ourselves that I'm super happy with. I have one Property Manager that uses AppFolio (for about 65 of our units) and one that uses PropertyWare (for about 30 units) and both fail to meet my expectations in terms of what financial reports are sent to me as an owner.

  • Member since 2020 · 7 posts · 4 votes
    5y

    Thanks for the comments.  

    Simon, I looked into Yardi Breeze, but they charge $.95 for each ACH transfer for Tenant's to pay online... for 300 units, that's an additional $3,420 a year!!! Whereas Buildium and AppFolio are both free.  Even if we charged it to the Tenants, then it would presumably harder to incentivize them to switch to paying online with a fee.

    Also, Yardi Breeze doesn't have a mobile app, that both Buildium and AppFolio have.

    I know that Voyager is top notch, but from what I have read elsewhere, Breeze is trying to compete with Buildium and AppFolio, but just isn't there yet...

    --

    Would still love to hear from others why AppFolio is considered better as you scale!

  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    5y

    We use Propertyware and bought a competitor that used Buildium. Difference is night & day between the two!

    Buildium is pretty basic, but we do recommend it for DIY investors as they don't need to track as much info as us managing for others. Note: Buildium was bought by Real Page back in February, who also owns Propertyware. They are working on many improvements.

    Appfolio and Propertyware are more equals, but we've seen Appfolio and still prefer Propertyware. We've done 100% of our accounting through Propertyware for 5 years now.

    @Renee Fulcer You may want to have a deep conversation with your PMC's about the reporting they are supplying. Appfolio actually allows owners to self-customize their own reports. Propertyware has a lot of report options and is supposed to roll out the abiity for owners to customize their own reports. We've had some owners complain about reports being too elaborate and they can't undertand them, we've had others complain about wanting more info. We've been able to figure out how to supply specific reports to make both happy. So, invest some time with your PMC's and if they won't help maybe it's time to find new PMC's. We may be able to assist with the Propertyware issue...

  • Rental Property Investor · Winnebago, IL · Member since 2013 · 80 posts · 56 votes
    5y

    Thanks @Drew Sygit I'll look into that!

  • Tracy StreichPro Member
    Real Estate Broker · Tulsa- OKC Oklahoma · Member since 2017 · 868 posts · 801 votes
    5y

    I agree with @Drew Sygit  Buildium is really basic and great for those managing a small portfolio especially for themselves.   Appfolio, Rent Manger and Propertyware are the best options.   Rent Manger is very complicated and you end up paying a lot for your payments to owners, vendors and receiving money from tenants.   What I like about Appfolio is it is very simple to use.   It does everything you need.  Look at the top 5-10 task you really need and see what system does it smoothly.  For us AF was the answer

  • Rental Property Investor · Columbia, SC · Member since 2020 · 245 posts · 275 votes
    5y

    @Howard Rubin thanks for posting this question. I had heard of Buildium and AppFolio on the podcasts and had taken note of them. Glad to see some feedback here.

  • Member since 2020 · 7 posts · 4 votes
    5y

    Propertyware is for single-family not multifamily.  Apparently though, according to the reps from Buildium, RealPage they may be merging Buildium and Propertyware.

    Is it possible to elaborate on what some of the actual benefits of AppFolio are over Buildium?  When I compare my 5-10 main objectives, it seems like they both do them relatively equally.  It's so hard to know without actually working in the software and so if anyone has experience with both and can give some specific examples, I'd greatly appreciate it!  I keep hearing AppFolio is better and just want to know why :)

  • Investor · Oakland, CA · Member since 2020 · 108 posts · 89 votes
    5y

    I have used appfolio and Yardi, and appfolio proved to be the much more efficient and useful accounting software for SURE. Unless you are selling your services primarily as an accounting office, Yardi is just too much and ends up counter productive. 

  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 670 votes
    5y

    I guess from my perspective, Yardi Voyager has the best accounting system out if all PM platforms.

    Where are you seeing the ACH being free from both Buildium and Appfolio? I see Buildium charging $1 incoming and $0.50 incoming.

    Appfolio just says Fees varies depending on what it is.

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  • Member since 2020 · 7 posts · 4 votes
    5y

    ACH rent payments are free with Buildium at the "Growth" level - if you have more than 100 or 150 units (can't remember), you have to be at the Growth level.  Same for AppFolio from contact with them.

    In terms of Accounting, I honestly have read that many people continue to use Quickbooks for accounting alongside Buildium and AppFolio.  Yardi Voygaer is just way too big and expensive for the level I am at.

  • Saint Charles, MO · Member since 2016 · 12 posts · 3 votes
    4y

    Howard, I know i'm resurrecting a dead thread, and you may not see it. I think your first post summarizes the difference perfectly, and I am seeing the same things as of today (18 months later).  

    I really struggle that AF you have to manually enter every transaction (no automatic bank feed), and a VERY manual bank reconciliation process. I could see how between 100-500 units this could add many hours to the back off processing time, until you can get big enough to force vendors to use their vendor portal...

    1. Did you make a decision? if so what is your experience like, DM if you don't want to respond to this thread.  


    2. One benefit of AF over Buildium, was Buildium has no unit level reporting/recording capabilities.  So, with large apartment buildings where you have Owner-Buiding-Unit - you can't record or report at that unit level.  I found this to be an issue with unit turnover costs and or budgeting/tracking rehab amounts.  

    Overall - I am leaning towards choosing buildium I have 145 units 120 owner managed and 24 is an HOA i'm managing. So will be interesting to see how it goes.

  • Member since 2022 · 10 posts · 0 votes
    4y

    Has anyone used Doorloop?  I know they are new.

  • Investor · Los Angeles County, CA · Member since 2012 · 962 posts · 279 votes
    4y
    Quote from @Howard Rubin:

    ACH rent payments are free with Buildium at the "Growth" level - if you have more than 100 or 150 units (can't remember), you have to be at the Growth level.  Same for AppFolio from contact with them.

    In terms of Accounting, I honestly have read that many people continue to use Quickbooks for accounting alongside Buildium and AppFolio.  Yardi Voygaer is just way too big and expensive for the level I am at.

     Buildium is free for ACH rent payments... charging $1 for yardi to accept ACH is a deal breaker

    I find Buildium platform to be slow.  Also I wish it had more options and was more user friendly.  Their website is very laggy though. not sure why this is the case...I'm thinking of trying out Appfolio


    One benefit of Buildium is it's cheaper, but it's lag makes it unusable at times.

  • Member since 2022 · 10 posts · 0 votes
    4y

    As of now, I only accept check/money order, have not dove into the water of ACH direct deposit payments.  Worried about the hackers.  

    Thinking of either Doorloop or Appfolio.

  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 670 votes
    4y
    Quote from @Erick Schmitt:

    As of now, I only accept check/money order, have not dove into the water of ACH direct deposit payments.  Worried about the hackers.  

    Thinking of either Doorloop or Appfolio.


     I've heard DoorLoop is still in an elementary stage and just not as good. My company uses AppFolio and works very well, but very costly.

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  • Member since 2022 · 10 posts · 0 votes
    4y

    Thank you, probably going to the Appfolio route.

  • Melanie ThomasBusiness Member
    Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 490 votes
    4y
    Between the two I would pick Appfolio all day. You should also really check out RentVine! We left Appfolio for RentVine. :) 

    Good luck, happy investing! 
    RentWerx Property Management4.73304 Reviews
  • Member since 2022 · 10 posts · 0 votes
    4y

    Melanie,  I will check it out, and thank you.

  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 670 votes
    4y

    I wouldn't switch to RentVine if you plan to go big. There are more people who are versed using AppFolio then RentVine. If you ever had to hire people, pick the platform that will require less training.

    Just my 2cents.

    Accounting Properties LLC
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    CFO LLC
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