So you’re interested in investing in some real estate property management software?
There it is. The dreaded pricing tab. Do you dare click on it? Do you know what you’re going to find?
Please contact our sales team/customer support for a free, customizable quote.
Ugh. Not what you were looking for, huh?
But it doesn’t stop there. If you do decide to go for a free, customizable quote, you usually have to supply personal information about you and your company, something I even hesitate to do. I understand it’s part of the process, but I just want to know how much the software costs.
Can’t you just find out the ballpark ranges for real estate software to help you plan your budget?
Not to worry. I’ve done the work for you.
Below, I’ve listed out the most popular pricing models for real estate property management software, explaining each model, its cost range, and even software examples from the Capterra directory to help you navigate your purchase.
Definitely leading the pack in real estate property management payment models, pay-per-unit allows flexibility for property managers who are growing their businesses. Pay-per-unit may breakdown either into charges for an individual number of units (such as three or seven), while others may break down by sets of increments, such as a set of five, ten, or fifty. Software that falls under this pricing model can also intersect with tiered pricing. This makes sense as managers overseeing a larger number of properties may have more needs than someone only monitoring a few, resulting in some additional features. However, emphasis is still on the number of units rather than available features within each software edition.
Cost: Payment can be made in monthly or yearly installments, with annual payments often promising an overall discount for your purchase. For monthly, buyers can expect to pay as little as $15/month for ten units or $400/month for 1,000+ units, though these prices tend to be for small businesses. At the enterprise level, expect to pay between $4,560 to $10,000/month, with annual costs rising to $49,248 for 4,500 units. Volume discounts are also available for managers with a large number of properties, with cost per unit as little as $0.75, but be sure to understand that your overall price can rise into the thousands based on the expanse of your real estate. Additional fees or minimum monthly payments may also be addressed in the fine print, so take note.
Software with this model:
Tiered pricing models often breakdown based on available features, splitting into different versions or editions of the hosted software. As editions ascend, so does price and the number of available features. Tiered models may offer a basic package free of charge, with their more expensive packages often prompting buyers to a customer service page where they can request a customizable free quote. This model may also overlap with pay-per-unit with varying editions also capping the number of properties that may use a particular edition of the offered software. Nevertheless, this model depends more on the scale of features rather than the number of managed properties.
Cost: With tiered models, pricing increments can be larger or smaller depending on the number of offered editions. Those with more available packages may have smaller price increments than those with fewer packages. Cost can be as little as $1/unit/month for more basic versions and rise to more than $575/month for 1,000 units. With smaller costs, users should expect additional fees, including charges for setup or a required minimum payment at the end of each month. Specifically, if you were to pay $1/unit/month for 50 properties, the company may require you to pay a minimum of $200/month regardless of your number of properties, so be sure to check the fine print. Many options offer monthly payment, but those who sign up for annual payment may receive pricing discounts. In terms of annual costs, buyers can expect to pay somewhere between $1,000 to $5,000/year. Volume discounts may also be available under certain vendors. For more enterprise-level software, expect to pay anywhere from $8,000 to $20,000/year.
Software with this model:
While more rare, this type of payment model seems more tailored to landowners using real estate software to help with rent and other forms of payment necessary to the management of a property. As the name suggests, users are only charged for each transaction that takes place, which can be good for landowners with a fluctuating number of tenants. Essentially, you pay only if you make a profit, something that can be an asset during a low season.
Cost: Pay-per-transaction software can be free, though its list of features may be limited. For paid versions, the cost is small (even under $0.50), but can build up if you’re processing a large number of transactions.
Software with this model:
One-time license didn’t make the cut, despite being more prevalent in other software categories, like database management software or network monitoring software. Likely, the reasoning is behind one-time license not being able to accommodate potential property expansion. Still, if you do find a few, be sure to let me know in the comments below.