Last Saturday, Buildium CEO and cofounder, Michael Monteiro, joined Ali Alavi and Rick Scherer, hosts of Real Estate Radio Boston on WBZ News Radio, for a conversation about how Buildium got its start, how we’re helping 13,000 customers improve their efficiency and grow their businesses, and the trends driving Boston’s hot rental market.
To kick off the interview, Michael shared a fun anecdote about how the idea for Buildium was born, and it speaks to the values that our company still holds today. As Michael explains, he always had an interest in real estate, and became a landlord as a side business after purchasing a few properties in Providence with a colleague (and Buildium co-founder, Dimitris Georgakopoulos).
What they quickly learned was that the everyday, low-value tasks were often the hardest to manage, like collecting rent and screening tenants. One day in particular still sticks out to Michael: when Michael asked if they’d received all of the rent for the month, Dimitris said: “I don’t know, it looks pretty close.” It was then that they both knew there had to be a better way to manage their units.
Twelve years later, Buildium is a leading property management solution that helps property managers streamline and automate tasks, so more time can be spent growing and winning new business.
Michael also shared his thoughts about Boston’s rental market, as it continues to be one of the most expensive cities in the country. He cited some interesting trends driving the market, including a number of economic and demographic trends—like Millennials and immigrants who prefer to rent over purchasing—that have drastically increased the number of rental households in the U.S. Additionally, he says that our current “subscription economy”—where people can rent, subscribe and try anything they want before committing to a full purchase—has driven a similar mentality in housing.
Believe us, there is plenty more to hear from Michael! Don’t miss his full interview on Real Estate Radio Boston. Check out the recording below (Michael’s portion starts at around the 30:15 mark) and then watch the video highlight reel of this Real Estate Radio Boston episode on YouTube.
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