The verdict in three sentences
A London letting agency managing 450 units on spreadsheets and a dated desktop tool loses rent to late chasing and spends hours on deposit and compliance tracking. Custom property management software costs, in the Kolonell grid, 4,000,000 to 7,000,000 FCFA (about 6,100 to 10,670 EUR) for medium complexity, with rent and arrears tracking in real time, PDF statements, open banking payments and compliance reminders. The real calculation is against your arrears rate: every point recovered across 450 units is worth thousands of pounds a year.
What a London letting agency needs
In London, a letting agency juggles rent collection, deposits protected in a government-approved scheme, landlord statements and a dense compliance calendar: gas safety certificates, EICR electrical checks, EPC ratings, Right to Rent checks and selective licensing in many boroughs. The Renters' Rights Act reshapes tenancies from 2026 with the end of section 21 evictions.
| Need | Spreadsheets | Off-the-shelf software | Custom Kolonell build |
|---|---|---|---|
| Rent collection | Bank statements copied | Yes | Open banking matching, automatic reconciliation |
| Deposits | Separate list | Yes | Tracking per unit, scheme reference, deductions justified |
| Statements and receipts | Word templates | Standard PDF | PDF in your branding, sent by email and WhatsApp |
| Arrears | Noticed at month end | Periodic reports | Alerts on day 3, 10, 30, real-time dashboard |
| Landlord payouts | Manual calculation | Yes | Monthly statements per landlord, fees deducted |
| Compliance calendar | Diary | Partial | Gas, EICR, EPC, licensing reminders per unit |
| Mobile inspections | Paper | App add-on | Offline capture with photos, synced later |
Compliance alerts matter: a missed gas safety renewal or an unlicensed property can lead to fines of several thousand pounds and rent repayment orders.
Budget and timeline in 2026
The Kolonell grid of 11/10/2026 places a property management application with payments and arrears tracking in the medium tier. Other items are 2026 orders of magnitude.
| Item | Amount | Comment |
|---|---|---|
| Simple application (rent, receipts, one workflow) | 2,500,000 to 4,000,000 FCFA (3,810 to 6,100 EUR) | Kolonell grid, simple tier |
| Medium application (payments, arrears, compliance) | 4,000,000 to 7,000,000 FCFA (6,100 to 10,670 EUR) | Kolonell grid, case of this article |
| Complex version (landlord portal, accounting, multi-branch) | 7,000,000 to 15,000,000+ FCFA (10,670 to 22,870+ EUR) | Kolonell grid |
| Monthly maintenance | 35,000 to 120,000 FCFA (50 to 180 EUR) | Depending on service level |
| Open banking payment fees | 0.2 to 1 % (2026 order of magnitude) | Depending on provider |
| Time to production | 3 to 4 months | Migration of 450 tenancies included |
Off-the-shelf letting software is often billed per unit each month. Across 450 units, 1 to 2 GBP per unit per month means 5,400 to 10,800 GBP a year, before add-ons.
Mini case study
Oliver, director of a letting agency in London (illustrative persona), manages 450 units at an average rent of 2,100 GBP, 945,000 GBP collected a month.
- Current arrears beyond 30 days: 4 %, so 37,800 GBP a month late.
- Target with automated chasing and real-time tracking: 2.5 %, so 14,175 GBP of rent recovered earlier each month.
- On a 10 % management fee, the agency earns 1,418 GBP more a month, about 17,000 GBP a year, before counting the time two property managers save on manual reconciliation.
- For a project of 5,500,000 FCFA (about 8,400 EUR), payback is well under a year.
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FAQ
Does the software handle deposit protection?
Yes, each tenancy stores its scheme, reference and protection date, with alerts if the 30-day legal deadline approaches. Deductions at move-out are documented with inspection photos.
Can tenants pay by open banking or card?
Yes, through an open banking or card payment provider with automatic matching to the tenancy. Allow 0.2 to 1 % fees and 2 to 4 weeks of integration per provider.
How long to migrate our 450 tenancies?
Migration from spreadsheets or a previous system takes 2 to 4 weeks, including deposit and balance checks. It fits within the overall 3 to 4 month timeline.
Will it be ready for the Renters' Rights Act changes?
Custom software can model periodic tenancies, new notice grounds and rent increase rules as they apply. Updates are handled under the maintenance plan at 35,000 to 120,000 FCFA a month.
Can landlords follow their properties?
In the complex version, a landlord portal shows rent, arrears, compliance status and monthly statements. It is often a strong argument to win new management instructions.
Let's scope your project. Tell us your number of units, current tools and payment methods: we will propose a scope, a budget within the 4,000,000 to 7,000,000 FCFA grid and a 3 to 4 month schedule. Detailed quote within 48 h. WhatsApp +221 77 596 93 33. Or via our free quote form.
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.
