Using property management software can simplify the process of managing rental properties, but the cost varies widely from program to program. Understanding what factors can affect the cost of your software is important for finding the best program for you.
The cost of property management software largely depends on the number of properties and tenants you need to manage. Fewer properties to manage will reduce the price of management software dramatically. For example, systems for less than ten properties will be the cheapest options. Additionally, features like an integrated accounting system will increase the cost. Updating your software may cost money as well though smaller programs may not charge for this.
For smaller systems, the cost for your software will be very low, or even free in some cases. For example, True Rent is available for free and runs online, though it only will manage five properties while remaining free. With an additional cost of $1 per property per month, with a minimum of $10 per month, this can be increased to as many properties as you would like.
Meanwhile, larger systems can cost upwards of $300. An example of this is Tenant Pro. Tenant Pro will charge $395 for 100 properties, $795 for 101-500 properties, and $1,195 for an unlimited number of properties.
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