The verdict in three sentences
For a London shopping centre of 85 units managed in Excel, lease management software costs 60,000 to 140,000 GBP in 2026. It automates rent reviews, turnover rents, annual service charge reconciliation and opens a tenant portal for sales reporting, with IFRS 16 outputs for the owner's accounts. The most direct return is recovering 1 to 3 % of unbilled rent, which often exceeds the project cost within the first year.
What Excel stops handling beyond 50 leases
The manager of an 85-unit centre juggles leases signed over fifteen years, different review mechanisms (open market, RPI or CPI linked, collars and caps), turnover rents calculated from sales figures sent by email, and a service charge regime governed by the RICS Professional Statement. A wrong index month or a missing sales return goes unnoticed for years.
| Module | Scope | 2026 cost (estimate) |
|---|---|---|
| Lease register | Clauses, break dates, rent-free periods, deposits, renewal alerts | 12,000 to 25,000 GBP |
| Rent reviews | RPI, CPI, collars, caps, index history | 8,000 to 18,000 GBP |
| Turnover rent | Sales thresholds, base rent, monthly returns | 10,000 to 22,000 GBP |
| Service charge | Apportionment, budget, year-end reconciliation, RICS compliant | 12,000 to 28,000 GBP |
| Tenant portal | Sales reporting, documents, maintenance requests | 10,000 to 25,000 GBP |
| Accounting connector and IFRS 16 | Ledger export, lease liability and right-of-use reporting | 8,000 to 22,000 GBP |
| Total | Full software | 60,000 to 140,000 GBP |
Off-the-shelf property platforms often charge 10 to 25 GBP per unit per month, or 30,000 to 75,000 GBP over three years for 85 units, with turnover rent configuration rarely matched to a regional centre's specific clauses.
Where unbilled rent hides
Lease audits show that losses come from a handful of recurring sources. On a centre with total annual rent of 6,000,000 GBP, 1 to 3 % represents 60,000 to 180,000 GBP a year.
| Source of loss | Observed frequency | Estimated annual impact (85 units) |
|---|---|---|
| Missed or misdated rent review | 5 to 10 % of leases | 20,000 to 55,000 GBP |
| Turnover rent not billed due to missing sales return | 10 to 20 % of relevant tenants | 15,000 to 60,000 GBP |
| Service charge items wrongly apportioned | common | 10,000 to 35,000 GBP |
| Rent-free period end not tracked | 2 to 4 leases | 8,000 to 20,000 GBP |
| Late service charge reconciliation | 6 to 12 months | Cash cost of 5,000 to 12,000 GBP |
| Total | 58,000 to 182,000 GBP |
The software creates no new income: it surfaces what the lease already provides. That is a strong argument with the owner or fund that appoints the centre management.
Timeline and data migration
Allow 4 to 6 months. The heaviest task is migrating the 85 leases: reading clauses, entering variations, rebuilding review history. It accounts for 20 to 30 % of the budget. The tenant portal opens last, after two quarters of parallel running with Excel to validate figures.
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James Whitfield, manager of an 85-unit shopping centre in London, collects 6,000,000 GBP of rent a year. The migration audit reveals 7 leases with missed reviews and 9 tenants who have not submitted sales for two years: 90,000 GBP a year of recoverable rent, or 1.5 % of the total. His service charge accountant also goes from 12 to 4 days for the year-end reconciliation. For software at 105,000 GBP, payback comes in about 14 months, before any recovery of prior years within the limitation period.
FAQ
Does the software update indices automatically?
Yes, RPI and CPI figures are pulled on each ONS release. The calculation applies each lease's clause, including collars and caps.
Can we recover unbilled rent from past years?
Rent arrears in England are generally recoverable within 6 years. Settlements are often negotiated at 50 to 100 % depending on the tenant relationship.
What does maintenance cost?
Plan 15 % of the initial cost per year, so 9,000 to 21,000 GBP, UK hosting included.
Do national retailers use the portal?
National chains often report through their own systems, so a file import is enough. Independent retailers adopt the portal at 70 to 85 % within six months.
Does it produce IFRS 16 reporting?
Yes, lease liabilities, right-of-use assets and the annual schedules are generated for the owner's accounts.
Let's scope your project. Tell us the number of leases, your review mechanisms and your accounting system, and we will cost the software, data migration and timeline. 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.
