The verdict in three sentences
At about USD 2.70 per unit per month (EUR 2.50), a firm managing 1,800 units pays around USD 58,300 a year in licences to its vendor, with no control over the roadmap. Custom software at USD 65,000 to 97,000 (EUR 60,000 to 90,000), delivered in 20 weeks, covers rent billing, expense reconciliation and an owner portal, and pays back in about 26 months. Below 800 units or without growth plans, an off-the-shelf solution remains the more sensible choice.
The real math: licences vs investment
Per-unit pricing is comfortable at first and becomes heavy as the portfolio grows. Every new management agreement increases the bill, while the marginal cost of a unit in software you own is close to zero.
| Item (2026 estimate) | Off-the-shelf | Custom software |
|---|---|---|
| Upfront cost | USD 0 to 5,400 (setup) | USD 65,000 to 97,000 |
| Monthly cost for 1,800 units | USD 4,860 | USD 1,300 to 2,200 (maintenance and hosting) |
| Annual recurring cost | USD 58,300 | USD 15,600 to 26,400 |
| Cumulative 3-year cost | USD 174,900 | USD 111,800 to 176,200 |
| Cumulative 5-year cost | USD 291,500 | USD 143,000 to 229,000 |
| Cost of one additional unit | USD 32 a year | Near zero |
| Payback | Not applicable | 20 to 34 months, 26 months in the median scenario |
Median scenario: USD 81,000 of development and USD 1,700 a month of maintenance and hosting. Monthly savings reach about USD 3,160, hence a 26-month payback. If the firm grows to 2,500 units, licences would climb to about USD 81,000 a year and the gap widens further.
What custom software must cover
In Florida, property management is regulated through broker licensing and strict trust account rules under Chapter 475. The software must secure these points before adding convenience.
| Function | Expected content | Share of budget | Timeline |
|---|---|---|---|
| Leases, units, tenants, owners | Records, management agreements, automatic rent escalation | 15% | 3 weeks |
| Rent billing and collections | Rent charges, ACH payments, bank reconciliation | 20% | 4 weeks |
| Expense and CAM reconciliation | Allocation keys, annual statement, deposits | 15% | 3 weeks |
| Trust accounting and owner payouts | Escrow accounts, owner statements, payouts, fees | 20% | 4 weeks |
| Owner and tenant portal | Documents, receipts, maintenance requests | 15% | 3 weeks |
| Data migration, testing, training | Migration of 1,800 units and balances | 15% | 3 weeks |
Data migration is the most sensitive point: trust account balances, security deposits, reconciliation history. Prepare it from the scoping phase with a full export from your current vendor, as provided for in your contract.
When to stay with off-the-shelf
Custom is not always the right answer. Stay with your vendor if you manage fewer than 800 units (licences under USD 26,000 a year), if your processes are standard, if no one in-house can steer a 20-week project, or if the vendor already handles trust accounting with the audit guarantees your regulator expects. A middle path also exists: keep the vendor for accounting and build a custom owner portal for around USD 16,000 to 27,000.
Mini case study
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Carlos, managing broker of a property management firm in Miami Brickell, manages 1,800 units and pays about USD 58,300 a year in licences. He invests USD 81,000 in custom software, with USD 1,700 a month for maintenance and hosting. Monthly savings of about USD 3,160 pay back the project in 26 months. The owner portal also cuts inbound calls by about 30%, nearly 10 property manager hours a week. Over 5 years, the firm spends USD 183,000 instead of USD 291,500, a USD 108,500 gap, before counting portfolio growth.
FAQ
Is custom software acceptable for trust account compliance?
Yes, if trust accounting is kept properly: segregated accounts, regular reconciliations, traceable payouts. The specification includes these requirements from the start.
How long does migration from the old software take?
Allow 3 weeks within the 20-week project, with one month of parallel rent billing to check balances.
Is the owner portal included?
Yes, in the scope described here, for about 15% of the budget. It gives access to owner statements, receipts and unit documents.
Can lease e-signature be integrated?
Yes, through an e-signature API, for USD 2,200 to 4,300 of development and about USD 1 per signature.
What happens if the portfolio doubles?
Maintenance cost changes little: going from 1,800 to 3,600 units mostly adds hosting, usually under USD 330 a month.
Let's scope your project. Send us your unit count, current software and annual licence bill and we will price a scope between USD 65,000 and 97,000 with a 20-week plan and a payback calculation. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
