Buildium vs. MRI Residential Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Buildium
Score 9.0 out of 10
N/A
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. According to the vendor, 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…
$55
per month
MRI Residential Management
Score 7.8 out of 10
N/A
MRI Software offers residential management for the multifamily real estate marketing. Capabilities include leasing workflow, prospect management, resident management, billing, facility maintenance, and performance management. The company was founded in 1971 and offers several residential and commercial property and investment management solutions.N/A
Pricing
BuildiumMRI Residential Management
Editions & Modules
Essential
$55
per month
Growth
$174
per month
Premium
$375
per month
No answers on this topic
Offerings
Pricing Offerings
BuildiumMRI Residential Management
Free Trial
YesNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeOptionalNo setup fee
Additional DetailsAll plans include accounting, maintenance, tasks, violations, online portals and resident & board member communications for your residents, board members, and owners.
More Pricing Information
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User Ratings
BuildiumMRI Residential Management
Likelihood to Recommend
8.3
(9 ratings)
5.0
(2 ratings)
Likelihood to Renew
10.0
(1 ratings)
-
(0 ratings)
Usability
10.0
(1 ratings)
-
(0 ratings)
Support Rating
10.0
(1 ratings)
1.0
(1 ratings)
Implementation Rating
5.0
(1 ratings)
-
(0 ratings)
User Testimonials
BuildiumMRI Residential Management
Likelihood to Recommend
Buildium
For larger communities, Buildium doesn’t have the accounting capabilities you need. Anything up to 100 units is easily managed and works well.
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MRI Software
Well suited scenario - MRI Residential is obviously good for residential real estate. It doesn't make sense to just plug in industrial, hotel or commercial real estate management as those are different types of products. Those who have access to the cloud can easily download information off site to do an analysis. Less appropriate - Information may need to be scrubbed. For instance, there could be operating statements that are inputted incorrectly because items are miscoded.
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Pros
Buildium
  • We use the task flow to ensure good communication with tenants and owners.
  • The accounting matches our standards for certifications.
  • Tenant portal allows them to set up auto pay and sends payment reminders.
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MRI Software
  • Reporting
  • Tracking Data
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Cons
Buildium
  • Buildium has done a great job over the last decade of developing software to keep pace with industry standards.
  • Buildium has room for improvement with the use of artificial intelligence to make repetitive processes more automated.
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MRI Software
  • Sometimes the data that is outputted is not consistent (back end of the database is constantly being updated), have to follow up with our client relationship manager
  • Sometimes very rigid
  • Incremental cost to add on information (if we want MRI to host certain documents in the cloud)
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Likelihood to Renew
Buildium
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
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MRI Software
No answers on this topic
Usability
Buildium
Once trained, I find that its usability is quite easy and comprehensive. If working on something I am less familiar with, I find that I can usually find the solution pretty quickly
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MRI Software
No answers on this topic
Support Rating
Buildium
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.
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MRI Software
They have a terrible help center and the training tools and videos are useless and not helpful. They need to invest in better training tools and modules for people to refer to. Especially when there is no designated training person within a company to teach newcomers how to use it.
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Implementation Rating
Buildium
I cannot rate this since I was not part of that process
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MRI Software
No answers on this topic
Alternatives Considered
Buildium
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.
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MRI Software
We had a proprietary access database, but wanted to utilize MRI because of support (annual fee is in the tens of thousands versus a hundred thousand plus build out). The user interface is pretty straight forward, and there is available training as well. Updates are done online via the SAAS website so we don't have to worry about any coding issues here in house.
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Return on Investment
Buildium
  • Eliminates processing paperwork, resulting in less paper and staff time and effort.
  • Eliminates payments via check, and the need to go to the bank along with processing fees.
  • Payments are more prompt due to options and communications.
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MRI Software
  • Helps track income
  • Helps with on-time billing
  • Keeps us on budget with projects
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ScreenShots

Buildium Screenshots

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