The verdict in three sentences
A London letting and management agency running 1,100 units on spreadsheets loses hours on reconciliation every month and lets arrears slip for lack of automated reminders. A custom property management platform at 4,000,000 to 7,000,000 FCFA (6,100 to 10,670 EUR) with Kolonell centralises tenancies, rent demands, deposits and landlord statements, with Open Banking and card payments and a landlord portal. Timeline: 10 weeks, then 75,000 FCFA (110 EUR) a month of Standard maintenance.
Spreadsheets, off-the-shelf or custom
UK property software is mature, but pricing per unit adds up fast at 1,100 units and integrations with your own accounting or maintenance contractors often cost extra. 2026 orders of magnitude for 1,100 units:
| Criterion | Spreadsheets and email | Off-the-shelf (market estimate) | Kolonell custom |
|---|---|---|---|
| Upfront cost | 0 | 1,000 to 3,000 GBP setup | 6,100 to 10,670 EUR |
| Recurring cost | 0 | 1 to 2.5 GBP per unit a month, 1,100 to 2,750 GBP | 110 EUR a month maintenance |
| 3-year cost | Staff time only | 40,600 to 102,000 GBP | about 8,600 to 12,400 GBP |
| Open Banking and card collection | Manual bank matching | Often an add-on | Built in, automatic matching |
| Rent reminders | Manual | Email mostly | SMS, WhatsApp and email schedules |
| Landlord portal | None | Usually included | Statements, payouts, documents |
| Fit with your workflows | Full | Partial | Full |
A London agency would quote a comparable custom build at 50,000 to 120,000 GBP (market estimate). Payment fees stay with the agency or tenant depending on your policy: Open Banking around 0.5 to 1 %, cards 1.5 to 2.5 %.
Arrears and time saved: what the numbers show
Assumption: average rent of 2,000 GBP, 2,200,000 GBP of rent demanded each month, management fee of 12 %.
| Monthly indicator | With spreadsheets | With the platform |
|---|---|---|
| Arrears rate at day 10 | 7 % | 3 % |
| Late rents to chase | 77 units | 33 units |
| Payment reconciliation hours | 70 h | 10 h |
| Hours on rent receipts and statements | 40 h | 2 h, sent automatically |
| Landlord payout delay | Day 15 to 20 | Day 5 |
| Landlord calls about statements | 150 to 200 | 30 to 50 thanks to the portal |
Cutting arrears at day 10 from 7 % to 3 % brings about 88,000 GBP of rent back into the normal cycle each month, and your fees land sooner.
Scope and budget
| Module | Scope | Share of budget | Timeline |
|---|---|---|---|
| Units and tenancies | Buildings, units, tenants, renewals, rent reviews | 20 % | 2 weeks |
| Rent demands and collection | Demands, payment links, automatic matching | 25 % | 3 weeks |
| Automated reminders | Day -3, day +3, day +10, formal notice | 15 % | 1 to 2 weeks |
| Deposits | Tracking, protection scheme deadlines, deductions | 10 % | 1 week |
| Landlord payouts and portal | Monthly statements, fees deducted, documents | 20 % | 2 weeks |
| Dashboards | Arrears per building, voids, fees | 10 % | 1 week |
In England, deposits are capped at 5 weeks' rent for annual rents under 50,000 GBP and must be protected in an approved scheme within 30 days: the platform flags any deposit outside these rules.
Mini case study
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Illustrative example: James, director of a letting agency in Clapham, manages 1,100 units with 4 property managers. Reconciliation and receipts take 110 hours a month, cut to 12: 98 hours freed, about 2,900 GBP at a 30 GBP loaded hourly cost. On his 12 % fee, lowering arrears from 7 % to 3 % secures about 10,500 GBP of fees each month. Monthly gain: about 13,400 GBP, for a project of around 8,400 EUR plus 110 EUR maintenance. Payback in the first month.
FAQ
How much does custom property management software cost for a London letting agency in 2026?
With Kolonell, 4,000,000 to 7,000,000 FCFA (6,100 to 10,670 EUR) depending on modules, then 75,000 FCFA (110 EUR) a month of Standard maintenance. A London agency would quote around 50,000 to 120,000 GBP (market estimate).
Can tenants pay by Open Banking or card?
Yes, each rent demand carries a payment link and the payment is matched automatically. Fees run around 0.5 to 1 % for Open Banking and 1.5 to 2.5 % for cards.
How do we migrate our spreadsheets?
Units, tenancies and balances are imported with checks in 1 to 2 weeks. For 1,100 units, plan 2 days of verification by your team.
What do landlords see on their portal?
Monthly statements, rent collected, fees deducted, works and documents. Landlord calls often fall from 150 to fewer than 50 a month.
Can the platform handle several branches?
Yes, multi-branch support is planned from the start for about 10 % extra budget. A second office in another borough then opens through configuration.
Let's scope your project. Share your unit count, payment methods and reporting needs: we price your platform in the 4,000,000 to 7,000,000 FCFA tier (6,100 to 10,670 EUR), delivered in 10 weeks. 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.
