The verdict in three sentences
For a centre with 85 stores across 410,000 sq ft, the financial stakes sit in three flows: rent escalations, percentage rent on tenant sales and the annual CAM reconciliation. Property management software costs 22,000 to 65,000 USD a year and often forces spreadsheet workarounds, while custom software at 49,000-92,000 USD automates tenant sales reporting and charge allocation. The right choice depends on how many allocation keys you use and how much of your income comes from percentage rent.
The three flows that leak money
A missed CPI escalation, tenant sales reported late or a misapplied CAM key turn directly into lost income or tenant disputes. On a centre this size, gaps found in lease audits often reach 1 to 3% of annual rent.
| Flow | Typical annual volume (85 leases) | Risk without a dedicated tool | Expected automation |
|---|---|---|---|
| Rent escalations | 85 reviews | Missed or wrong effective date | Automatic calculation and notices |
| Percentage rent | 40 to 60 tenants concerned | Late or incomplete sales reports | Monthly sales reporting portal |
| CAM reconciliation | 85 statements | Disputes, delayed true-ups | Allocation by keys (pro rata share, sq ft, footfall) |
| Lease renewals | 8 to 12 a year | Missed option dates | Alerts at 6 and 3 months |
| Capex and budgets | 10 to 15 line items | Overruns not recharged | Budget vs actual tracking |
| Arrears follow-up | 5 to 10% of tenants | Ageing receivables | Staged reminders and aged debt report |
The tenant portal is the most profitable lever: when each store enters its own monthly sales, percentage rent is calculated the same day and gaps show up at once.
Off-the-shelf or custom: 5-year comparison
| Criterion | Property management software | Kolonell custom build |
|---|---|---|
| Upfront cost | 11,000 to 27,000 USD integration | 49,000 to 92,000 USD |
| Recurring cost | 22,000 to 65,000 USD a year | Hosting and maintenance 10,000 to 16,000 USD a year |
| 5-year cost | 120,000 to 350,000 USD | 99,000 to 172,000 USD |
| Sales reporting portal | Paid add-on or missing | Included, in the centre's branding |
| Allocation keys | Fixed templates | Unlimited and combinable |
| Time to deploy | 2 to 4 months | 4 to 6 months |
| Code ownership | No | Yes |
Off-the-shelf software remains relevant for a manager running several mixed assets. For a single centre with a large share of percentage rent, custom pays back within 2 to 3 years.
Project plan
| Phase | Duration | Deliverable |
|---|---|---|
| Scoping and lease audit | 3 weeks | Structured base of 85 leases, CAM keys validated |
| Leases and escalations module | 5 weeks | Rent roll, notices, receipts |
| Tenant portal | 5 weeks | Monthly sales reporting, documents |
| CAM and reconciliation | 5 weeks | Budgets, allocation, PDF statements |
| Testing and go-live | 3 to 6 weeks | Parallel run over one quarter |
Mini case study
Sophia, general manager of a shopping centre in Miami, runs 85 leases worth 6.7 million USD in annual rent, 18% of it percentage rent. The audit shows 1.2% of income never billed (late escalations, under-reported sales), about 80,400 USD a year. Her team also spends 6 weeks a year on CAM reconciliation. With a 76,000 USD custom project and 13,000 USD annual maintenance, recovering just two thirds of the gap, around 54,000 USD, pays back the investment in 20 months, before counting the time saved on reconciliation.
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FAQ
Will national retailers agree to report on a portal?
Yes, most already report monthly sales on several landlord portals. A file import is planned for the 10 to 15 retailers who prefer bulk submission.
Does the software handle base rent plus percentage rent leases?
Yes, it compares minimum base rent with the percentage of sales above the breakpoint, with an annual true-up. Breakpoints and rates are configurable lease by lease.
Can we connect our accounting system?
An export of journal entries to your accounting software is included. Real-time sync adds 3,300 to 7,600 USD depending on the tool.
How long does it take to load existing leases?
Structured entry of 85 leases, amendments included, takes 2 to 3 weeks. We deliver a control sheet of dates and amounts for your team to validate.
Does it handle CAM caps and exclusions?
Yes, caps, base years and excluded cost categories are set per lease and applied to every statement. Each tenant receives a detailed annual reconciliation automatically.
Let's scope your project. Tell us your number of leases, your share of percentage rent and your CAM keys to receive a scope priced between 49,000 and 92,000 USD and 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.
