Accruent acquired Lucernex in 2017 to boost its IWMS or asset management portfolio. Lucernex Lease Administration & Accounting is a real estate lifecycle management platform emphasizing compliant financial contracts and accountancy.
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Buildium
Score 9.2 out of 10
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Buildium is a cloud-based property management solution that enables managers of residential and association properties to take complete control of every aspect of their business, including the rent, vacancy and maintenance cycles. Buildium streamlines management of the rent cycle with key features such as tenant and lease tracking, full general ledger accounting, automated rent and late fee reminders and on-demand reports. Additionally, rent collection can be…
$62
per month
Pricing
Accruent Lucernex
Buildium
Editions & Modules
No answers on this topic
Essential
$62
per month
Growth
$192
per month
Premium
$400
per month
Offerings
Pricing Offerings
Accruent Lucernex
Buildium
Free Trial
No
Yes
Free/Freemium Version
No
No
Premium Consulting/Integration Services
Yes
No
Entry-level Setup Fee
Required
Optional
Additional Details
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All plans include accounting, maintenance, tasks, violations, online portals and resident & board member communications for residents, board members, and owners.
I believe Accruent is well suited for companies with a large amount of leased assets that need to be accounted for under the new accounting standard. Companies with fewer leases would not need an intricate tool of this size. It is suited for both real estate and equipment leases, which makes up the entirety of our portfolio.
I'm very happy with the service provided via phone, to me that is the absolute largest draw. I also really appreciate the integrations Buildium offers. I mostly appreciate HappyCo, Petscreening, and Hunter Warfield. None of these are seamless in their communication with Buildium but it's still a vast improvement from having to have separate accounts from Buildium so overall, it is beneficial to our company
Lucernex does an excellent job of listening to its customers to continue enhancing the product to make it the best in the industry and to continue to partner with their customers on this endeavor.
Lucernex's product is an intuitive product that allows its end users to customize and manager their own fields and pages to tailor individual company's needs.
I have used three property management softwares and know of others who have used additional softwares for managing properties. Buildium seems to be the best of all of them
Overall, the system is good and getting better; however, different roll outs have caused the system to regress. Their latest bank automation rollout was a disaster and continues to be an issue. Since the upgrade, I have not been able to sync our bank and Buildium (download transactions).
I have been able to get through to support immediately and they have been awesome in quickly resolving issues. More importantly, their communication when there is an issue which might take some time to resolve surfaces. Getting updates and resolution are critical.
The trainers were knowledgeable and engaging in presenting the materials, and their emphasis on important concepts was helpful (I would rate the trainers themselves a 9!). However, I do not believe there's anything we learned in the in-person training that could not have been taught via live web-classroom. Traveling a significant distance (in our case) to Austin, TX for only approx. 12 hours in the classroom was (in my opinion) not necessary, since the same material could have been presented via live web-classroom and saved us the expense and travel-time. I would encourage Lucernex to consider moving to a live web-classroom format in the future; an online live format would still allow for participation and questions from the participants while saving clients' time and money
I cannot recall exactly what other products we reviewed before choosing Lucernex, but one of the leading factors was how highly customizable the software was. We had previously been using Retail Lease which was an older program with buckets of data stored everywhere. During the data mapping process, we were able to easily find a home for all of this "random" data
Appfolio is my favorite software, and they are constantly making improvements. Buildium is great if you don’t have a ton of property but is not as manageable for advanced accounting and resident information tracking. There are workarounds, but they do need to work on their ease of use for owners.
Lucernex was able to complete our business objective to manage and process all of our Lease Accounting entries within the software.
Lucernex has enabled all of our departments to become better connected, work together to create synergies and transparency to better meet business objectives.
Buildium absolutely saves time. Having all of our management systems in one place is almost beyond a value at this point because it’s the basic requirement of running an effective property management company.