The verdict in three sentences
For an agency managing 2,200 units in Dublin, an off-the-shelf property management platform costs EUR 1.50 to 3 per unit per month excluding VAT, roughly EUR 40,000 to 79,000 a year. A custom build requires EUR 50,000 to 95,000 upfront, then EUR 8,000 to 15,000 a year in maintenance, and only makes sense if your processes (landlord portal, unusual mandates, banking integrations) fall outside the standard mould. In both cases, client money accounting that satisfies your PSRA licence obligations is the number one knockout criterion, well ahead of user experience.
What the software must cover, function by function
An agency of this size issues around 2,200 rent demands a month, runs hundreds of rent reviews a year and reconciles service charges annually. Each function carries a different weight in time saved.
| Function | What it automates | Estimated time saved per month (2,200 units) | In off-the-shelf tools |
|---|---|---|---|
| Rent demands and receipts | Invoices, PDF receipts, email delivery | 25 to 35 h | Yes, standard |
| Rent reviews | Calculation within Rent Pressure Zone caps, tenant notices | 8 to 12 h | Yes, standard |
| Service charge reconciliation | Apportionment by share, annual statement | 15 to 25 h (averaged) | Yes, with varying depth |
| Client money accounting | Separate ledgers per landlord, statements, reconciliation | 30 to 45 h | Yes, licence-critical |
| SEPA direct debits | Rent collection, failed payment handling | 10 to 15 h | Often an add-on |
| Landlord portal | Online statements, documents, tax summaries | 12 to 20 h of calls avoided | Variable, often basic |
| Arrears chasing | Staged reminders, formal notices, RTB case tracking | 8 to 12 h | Yes, needs configuring |
On this basis, a good tool frees up around 110 to 165 hours a month, the equivalent of one full-time property manager on a portfolio this size.
Off-the-shelf or custom: the 2026 costed comparison
| Criterion | Off-the-shelf platform | Custom (dedicated build) |
|---|---|---|
| Entry cost | EUR 3,000 to 12,000 (data migration, setup) | EUR 50,000 to 95,000 |
| Recurring cost for 2,200 units | EUR 40,000 to 79,000 a year | EUR 8,000 to 15,000 a year (hosting, maintenance) |
| Time to go live | 2 to 4 months | 6 to 10 months |
| Licensing and accounting compliance | Proven, audited by vendors | Must be specified and signed off by your accountant |
| Landlord portal | Standard, little customisation | Designed for your brand and workflows |
| Product changes | Vendor roadmap | On demand, you own the code |
| 5-year cumulative cost (order of magnitude) | EUR 210,000 to 410,000 | EUR 90,000 to 170,000 |
Custom looks cheaper over five years, but it carries a real risk: client money accounting tolerates no approximation. The most rational approach for a 2,200-unit agency is often hybrid: a proven platform for the accounting core, plus a custom layer (landlord portal, tenant extranet, management dashboards) connected via API, for EUR 20,000 to 40,000.
PSRA licence and client money: what to check
A PSRA licence for letting and property management requires client funds to be held in a separate client account and fully reconcilable at any time. Your software must therefore produce, without manual rework: the landlord ledger balances, the register of management agreements, the client account bank reconciliation and the reports your accountant needs for the annual client money audit. Insist on a demo of these four outputs, using your own data, before signing. Also check that data is hosted in the EU, that ledger entries are logged and that the system is reversible: full CSV export with no exit fees.
Mini case study
Aoife, managing director of a letting agency in Dublin, 2,200 units, 9 property managers. Her current tool costs EUR 2.10 per unit per month, or EUR 55,440 a year, but offers neither a landlord portal nor built-in SEPA collection. Chosen option: migrate to a platform at EUR 2.40 per unit (EUR 63,360 a year) plus a custom landlord portal at EUR 28,000. Measured gains: 140 hours a month freed up, so one manager is reassigned to winning new mandates. At an average annual fee of EUR 280 per unit, 150 extra units bring in EUR 42,000 a year. The extra EUR 7,920 a year plus the portal pays back in under 10 months.
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FAQ
How much does property management software for 2,000 units cost in 2026?
Budget EUR 1.50 to 3 per unit per month for an off-the-shelf platform, or EUR 36,000 to 72,000 a year, plus EUR 3,000 to 12,000 to go live. Pricing depends on modules (SEPA, portal, document management) and negotiated volume.
Can custom software handle client money accounting?
Yes, but the specification must be approved by your accountant, and the budget climbs towards EUR 80,000 to 95,000. For most agencies, keeping a platform for the accounting and building custom around it is safer.
How long does migrating 2,200 units take?
Allow 2 to 4 months, including 4 to 6 weeks of migration and checking landlord balances. Use a quarter-end as the cut-over date to limit discrepancies.
Can rent reviews be fully automated?
Yes: the software applies the HICP-based cap in Rent Pressure Zones and the lease terms. You still need to check exempt or special-case tenancies, often 10 to 15% of the portfolio.
What return on investment should I expect?
On a 2,200-unit portfolio, 110 to 165 hours saved per month represents EUR 45,000 to 65,000 of loaded payroll a year. A well-scoped project pays back in 8 to 14 months.
Let's scope your project. Send us your unit count, current tool and pain points: we will cost a landlord portal or a complete solution, with an indicative budget and migration 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.
