The verdict in three sentences
For a London block and residential property management firm handling 1,500 to 6,000 units, off-the-shelf software costs EUR 2 to 6 per unit per month (about GBP 1.70 to 5.10), i.e. EUR 36,000 to 432,000 a year. Custom development sits between EUR 50,000 and 120,000, including a leaseholder portal, online general meetings and automatic arrears reminders. Beyond 3,000 units, or when your organisation differs from the vendor's model, custom pays for itself in 18 to 36 months.
Market SaaS or bespoke development: the numbers
The established property management platforms handle the regulatory basics, but directors raise the same points: dated interfaces, a portal that leaseholders do not use, annual price increases of 5 to 10%, and no way to automate firm-specific tasks.
| Criterion | Market SaaS | Custom |
|---|---|---|
| Entry cost | EUR 5,000 to 25,000 (migration, setup) | EUR 50,000 to 120,000 |
| Recurring cost for 3,000 units | EUR 72,000 to 216,000 a year (EUR 2 to 6 per unit per month) | EUR 12,000 to 25,000 a year (maintenance + hosting) |
| Annual increase | 5 to 10% | Controlled by the firm |
| Leaseholder portal | Standard, low adoption | Your brand, mobile, adopted |
| Business automation | Limited to configuration | No functional limit |
| Data ownership | Export often charged | Full |
| Go-live time | 2 to 4 months | 4 to 6 months |
Custom does not have to replace the whole accounting system. Many firms keep a proven service charge accounting engine and commission the client relationship layer: portal, meetings, reminders, repairs. This hybrid scope costs EUR 35,000 to 70,000.
Modules and their cost
| Module | Function | 2026 budget (EUR) | Timeline |
|---|---|---|---|
| Leaseholder and tenant portal | Documents, accounts, service charge demands, messaging | 10,000 to 22,000 | 5 to 7 weeks |
| Online general meetings | Notices, video conference, e-voting, minutes | 8,000 to 20,000 | 4 to 6 weeks |
| Automatic arrears reminders | Scenarios, letters, formal demands, legal follow-up | 6,000 to 15,000 | 3 to 4 weeks |
| Repairs management | Reports, work orders, contractor tracking | 7,000 to 18,000 | 4 to 5 weeks |
| Lettings management | Tenancies, rent demands, reviews, deposit tracking | 10,000 to 25,000 | 5 to 7 weeks |
| Accounting and banking connector | Ledger sync, reconciliation, direct debits | 6,000 to 20,000 | 3 to 5 weeks |
What regulation requires
In England, managing agents operate under the RICS Service Charge Residential Management Code, Section 20 consultation rules for major works, and the Building Safety Act 2022 for higher-risk buildings, with tenancy deposits protected under approved schemes. A custom tool must cover these duties without hidden extra costs.
| Obligation | What the tool must do | Estimated extra cost (EUR) |
|---|---|---|
| Transparent service charge information | Individual access to budgets, accounts, insurance, contracts | Included in the portal module |
| Section 20 consultation | Notices, timelines, quotes, leaseholder observations | 3,000 to 6,000 |
| Remote participation in meetings | Video conference with identification and attendance record | 2,000 to 4,000 |
| Electronic service of notices | Prior consent, timestamping, proof of delivery | 2,500 to 5,000 |
| UK GDPR | Records, retention periods, access rights | 2,000 to 4,000 |
Mini case study
Laurence runs a block management firm in south-west London handling 4,200 units. She pays EUR 4.20 per unit per month, i.e. EUR 211,680 a year, with a 7% increase announced. She opts for a hybrid architecture: she keeps an accounting engine at EUR 1.20 per unit (EUR 60,480 a year) and commissions the portal, online meetings, reminders and repairs for EUR 85,000, plus EUR 18,000 a year of maintenance.
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Annual cost after switchover: EUR 78,480, or EUR 133,200 saved per year. The project pays back in under 8 months. Automatic reminders also cut arrears from 6.5% to 4% of annual service charge budgets within a year.
FAQ
How much does custom property management software cost in London?
Expect EUR 50,000 to 120,000 for a complete tool, or EUR 35,000 to 70,000 for a client relationship layer connected to an existing accounting engine. Maintenance runs at 15 to 20% a year.
From how many units does custom become worthwhile?
Usually from 2,500 to 3,000 units, once licences exceed EUR 70,000 a year. Below that, a well configured market product is often the better choice.
Will leaseholders actually use a custom portal?
A mobile portal branded with the firm's name often reaches 50 to 70% adoption, against 15 to 25% for a standard vendor portal. Adoption reduces phone calls and paper mailing costs.
Can general meetings be held fully online?
Virtual and hybrid meetings are possible where the lease, articles or residents' association rules allow, with proper identification and attendance records. The meetings module costs EUR 8,000 to 20,000.
What happens to our existing data?
Migration of accounts, units, leaseholders and documents is priced separately, EUR 5,000 to 15,000 depending on export quality. Schedule it outside year-end accounting.
Let's scope your project. Tell us your unit count, current software and main pain points: we will price a full or hybrid scope between EUR 35,000 and 120,000 with a 4 to 6 month plan. 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.
