Is Online Rental Software Worth the Money?

With the ever-increasing demand for advanced technology, it’s not surprising that several real estate companies are considering switching and investing in automated technology.

Using high-tech automated technology to track and manage your properties is the key to success in today’s competitive marketplace. But, before going for this crucial shift, every landlord is probably asking – Is it worth investing in Online Property Management Software?

Do you have the same confusion?

If yes, this reading will indeed prove worthwhile to read for you.

But before zeroing down on your question, let’s explore the importance of having property management software.

Let’s start!

Why do we need Online Property Management Software?

Well, having an online rental software is not a must-have thing, but the software has introduced a lot of functionalities that can ease your property management activities.

The online property management software is a cloud-based platform that can eliminate your time-consuming manual efforts. As a result, you can save efforts and time that you can invest in other core activities to grow.

Well, manual proceedings are still continuing, but the adoption of advanced technology can help you keep up and work smartly with less stress.

I wonder how much time you need to reconcile your different bank accounts across different excel sheets. Meanwhile, the automated software can online check your bank statements and maintain the records in an organized manner.

In such a situation, the online rental software is a highly recommended and most efficient system to adopt. It is software that accommodates everything you need to stress-free manage your properties.

But are these perks worth the investment in online rental software?

To know that, let’s explore more!

How much does an Online Property Management Software cost?

As per today’s marketplace, the pricing of every Online Rental Software is different from others. Basically, it would rely on the advantages and services you are going to take.

Our Research & development department prepared an estimate of the average cost attached with online property management software:

Tiered Pricing

You will find several online rental software offering tiered pricing structures along with pay-per-unit; this pricing method is a freemium method. Usually, paying users can access or unlock more advanced features of online rental software, whereas free users can only access limited features.

This offer also contains particular offers based on the transactions. The well-renowned companies offer monthly or annual subscription options, where annual subscribers enjoy more cut-down in fees than monthly subscribers.

The annual could be between $1000 to $5000 a year as per studies.

Pay-per-Unit

In today’s marketplace, several online property management software charges as per the number of properties you own. Contrarily, some software providers have a monthly fee.

As per the estimation, the published rate for writing is $1.25 per unit/monthly, whereas the standard monthly fee is $250. In such a case, one should have a minimum of 200 units to advantage from the price of $125 per unit.

Pay-per-Transaction

The Pay-per-transaction format is not common like other transactions, as only a few software goes for this payment structure. In this payment structure, the actual spending could rely on the provider you are using.

Sometimes, this payment structure could be the most practical and beneficial for landlords who want to invest in an ideal online rental software.

Now, we hope you got the general idea of the online property management software cost, and it helps you make an informed decision.