Appfolio vs Buildium vs Yardi

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Appfolio vs Buildium vs Yardi

Adam JernowPro Member
Investor · New York City, NY · Member since 2015 · 50 posts · 15 votes

Hi All,

I'm a long time Buildium user. Several hundred units.

The software is good overall but the accounting is week for institutions. There have been issues with auto reconciliation that take Buildium months to resolve. It's not a feature everyone uses but it's a real time saver. You should check that out if you haven't.

The bigger issue that I'm tackling now relates to trial balances. Buildium displays trial balances incorrectly and the bigger issue is that they seem resistant to repair their software code to remedy the problem.

So... I'm looking into other management software. I'll start a separate thread because although plenty of people are using Rentecdirect.com or Cozy, I need something more robust.

Is there anyone in the community that has experience using both Appfolio and Buildium and Yardi? Or other strong management software line Real page or MDS? I'd love some comparative opinions.

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Gita FaustBusiness Member
Accountant · Richboro - Philadelphia, PA · Member since 2008 · 901 posts · 246 votes
7y

Our clients use the property management software for that purpose only and not for accounting especially for Landlords and they use QuickBooks for accounting. Jody is currently using Appofolio and collects over $1million in rent, but it lacks the true accounting system, so we decided to keep the tenant management in Appofolio and move all accounting to QuickBooks Online. They will be spending only 15-30 minutes each month to record the rent in QuickBooks. The good thing with few pm software you can customize the reports to get the data.

So start with a list of what you are missing first, then your needs such as reports and the automated functionality.

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  • Adam JernowPro Member
    OP
    Investor · New York City, NY · Member since 2015 · 50 posts · 15 votes
    9y
    Originally posted by @Zalman E.:

    Thanks! We are also currently trying to find a more robust program, specifically for better accounting.

    As we are considering using Buildium for our rental properties, can you please elaborate on the nature of the issue with displaying trial balances and other accounting shortfalls, so our bookkeeper can know if it'll be a dealbreaker?

    Hi Zalman,

    Which software are you using now and what are the issues with it? Why are you looking around?

    Buildium does not have features specific to Sect. 8, DHCR, or MCI but there are work arounds.

    0Reply
  • Mike HowardPro Member
    Investor · Gilbertsville, KY · Member since 2015 · 5 posts · 0 votes
    7y

    I am curious about the Buildium workarounds for Section 8. We adopted Buildium this year and now have a 40 unit 100 % HUD property under contract. We need software that can do the TRACS reporting. Yardi has been recommended but we prefer not to invest in another platform, if Buildium will do the job.

    0Reply
  • Adam JernowPro Member
    OP
    Investor · New York City, NY · Member since 2015 · 50 posts · 15 votes
    7y

    Hi,

    We migrated to Appfolio. I'm far happier with it. The migration was VERY difficult but the platform is certainly better. 

    I hope this post doesn't get edited away.

    I have contacts at Appfolio. If you're interested in have a conversation there, then message me.

    Good luck!

    1Reply
  • Mary Jay
    Glendale, AZ · Member since 2017 · 1k+ posts · 238 votes
    7y

    I think I may be wrong ,  can u please correct me ?

     It was my understanding that Appfolio has a feature that others don’t ,  and that feature is collecting the money automatically from the tenant and the tenant cannot change the date of collection without the landlords permission, is that right? 

    So basically the money just goes out of the tenants  Account whether they wanted or not. I have not used any of those softwares ,  this is just what I’ve heard from somebody, so maybe you guys can correct me? 

    0Reply
  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 675 votes
    7y

    I am all about Yardi. I should get paid for recommending them all the time.

    Experienced in

    Yardi Enterprise

    Yardi Voyager 6s

    Yardi Voyager 7s

    Yardi Genesis2

    I am currently working on helping my company switch over to Voyager 7s from Genesis2.

    Accounting Properties LLC
    View Page
    CFO LLC
    View Page
    0Reply
  • Adam JernowPro Member
    OP
    Investor · New York City, NY · Member since 2015 · 50 posts · 15 votes
    7y

    Hi Mary Jay,

    Appfolio doesn't have that feature. It seems like that wouldn't actually be legal.

    Appfolio and Buildium both have 'push' systems. That means the tenant or unit owner decides when to 'push' the payment through. They can authorize recurring payments. That makes payment and collection much easier. Less time spent debating postmarks, deliver and the USPS.

    0Reply
  • Gita FaustBusiness Member
    Accountant · Richboro - Philadelphia, PA · Member since 2008 · 901 posts · 246 votes
    7y

    Our clients use the property management software for that purpose only and not for accounting especially for Landlords and they use QuickBooks for accounting. Jody is currently using Appofolio and collects over $1million in rent, but it lacks the true accounting system, so we decided to keep the tenant management in Appofolio and move all accounting to QuickBooks Online. They will be spending only 15-30 minutes each month to record the rent in QuickBooks. The good thing with few pm software you can customize the reports to get the data.

    So start with a list of what you are missing first, then your needs such as reports and the automated functionality.

    1Reply
  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 675 votes
    7y

    $1M in rent, that's better off using Yardi Voyager automate the rent into accounting and produce the reports from there. I can't imagine dealing with rent on two separate platforms with $1M in rent collection.

    Accounting Properties LLC
    View Page
    CFO LLC
    View Page
    1Reply
  • Mary Jay
    Glendale, AZ · Member since 2017 · 1k+ posts · 238 votes
    7y
    Originally posted by @Adam Jernow:

    Hi,

    We migrated to Appfolio. I'm far happier with it. The migration was VERY difficult but the platform is certainly better. 

    I hope this post doesn't get edited away.

    I have contacts at Appfolio. If you're interested in have a conversation there, then message me.

    Good luck!

     You did mention what you did not like about Buildium... But what do you think is better about Appfolio vs  other software's? ( if you dont mind me asking)

    0Reply
  • Mary Jay
    Glendale, AZ · Member since 2017 · 1k+ posts · 238 votes
    7y
    Originally posted by @Adam Jernow:

    Hi Mary Jay,

    Appfolio doesn't have that feature. It seems like that wouldn't actually be legal.

    Appfolio and Buildium both have 'push' systems. That means the tenant or unit owner decides when to 'push' the payment through. They can authorize recurring payments. That makes payment and collection much easier. Less time spent debating postmarks, deliver and the USPS.

     Thank you! I appreciate your answer!

    0Reply
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