The property management software buying guide: Comparing property management software pricing

If you’re on the hunt for property management software, one element that often stands out above the rest is price. At first glance, comparing your options based on pricing can be straightforward, but there are several factors that can make an apples to apples comparison more difficult.

Each company prices its software in distinct ways. There might be a free option, premium tiers, or fees for add-ons or higher door counts—along with other conditions—that all contribute to the total price you’ll be paying.

In this guide, we’ll explore the different property management software pricing models that most platforms on the market use, additional costs to consider, and how to determine which software offers the most value for its price.

Check out this Comparing Options by Price segment of our video series, Property Management Features Buying Guide, and read on for an even closer look at software pricing:

Freemium Property Management Software Pricing Models

Property management software typically falls under three general pricing models: free, freemium, and paid. The free pricing model is self-explanatory: you’ll get access to (often basic) features at no cost. This typically appeals to property management companies that are dipping their toes into software and are alright using products with limited capabilities and benefits for the time being.

A freemium model is designed to offer more flexibility and scalability. Initially, property managers can access a set of core features for free, which may be sufficient for small operations or those just starting out. As the needs grow, additional features and tools can be unlocked through various payment tiers. These tiers may be structured based on the number of properties managed (door count) or the complexity of the features.

For instance, a basic freemium plan might include standard property listing and maintenance request functionalities. However, to access advanced features such as automated rent collection, detailed financial reporting, or integration with other software systems, property managers would need to subscribe to a higher tier.

The freemium model lets property managers test the software and scale up as they need to, choosing features that align with their needs. However, this piecemeal approach can often lead to ballooning costs over time as you add on more and more features, or being stuck with a limited set of tools if the software doesn’t offer more comprehensive paid options.

Paid Property Management Software Pricing Models

Comprehensive and higher-quality property management software often focus on paid solutions priced into different tiers based on the managers’ needs.

Door Count-Based Pricing

Door count-based pricing is a common model among property management software providers. It allows property managers to pay according to the number of units they manage.

There’s often a base cost that you can determine using a calculator or slider on their website to help you find the base cost based on your specific door count. This cost changes per door or once you’ve reached a threshold door count such as 100 or 1,000 doors.

Some software providers set a minimum door count. This means you might end up paying for more doors than you manage, or you may not be able to sign up if you manage fewer doors than their minimum requirement.

Door-based pricing can offer a flexible and scalable pricing structure that aligns with the size of your portfolio. As an incentive, the cost of service you pay per door can often decrease as your portfolio grows, although the range of features you have access to may still be fixed.

Service Package-Based Pricing

Service package-based pricing for property management software allows property managers to select a package of features that best fits their business needs. These packages are typically organized into tiers, with a broader range of features and more advanced capabilities available at higher, more expensive tiers.

For example, Buildium offers three different service packages:

Essential: Starting at $55/month, Essential includes Buildium’s core features and is intended for property management companies who are looking for basic accounting and task management tools.

Growth: Starting at $174/month, Growth is the plan for property managers that want to grow without worrying about the cost of scaling. The plan adds on unlimited incoming ACH and eSignatures.

Premium: Starting at $375/month, Premium is meant for management companies focused on introducing automation more thoroughly into their workflows to boost efficiency Premium features Buildum’s Open API and Priority Support from the Buildium team.

This particular pricing model is often a good choice for property managers because it lets you  choose a package that includes the tools and services you require, without paying for unnecessary features. It’s a more predictable pricing model with a fixed cost, as well, making it easier to budget and plan your investment. As your business grows, you can upgrade to a higher tier to access more advanced features.

Combined Pricing Models

Some software combine models for property management software, integrating both service-based and door count-based pricing. This model often lets you select a service tier that’s then priced based on the number of properties you manage.

For example, you might choose a core package that includes basic tools such as tenant screening and lease management. This gives you a base price per unit, with the total cost determined by the number of doors you manage.

This combined approach gives you the flexibility to start with a basic package and add more doors as your business grows, but it might be difficult to clearly understand and compare the value you’re getting for the final sticker price. There’s no guarantee you’re getting a better deal than you would be with a solely door count- or service-based pricing model.

Additional Costs

When shopping around for software, be wary of add-on fees or additional charges for services that are not included in the base pricing package. These fees can vary widely depending on the software provider and the services offered. Common add-on fees include:

Onboarding Fees: Charges for setting up the software, which may include data migration, training, and initial customization to fit your business processes.

Transaction Fees: Costs associated with processing payments, such as ACH transfers, eSigning, or ePayments.

Á La Carte Services: Fees for optional features or tools that you can add to your package, allowing for further customization of your software experience.

Factor in extra costs when comparing property management software options. Once you’ve narrowed down your choices, make sure to inquire about all possible fees to get a clear understanding of the total cost of each software package you’re considering.

Tips for Evaluating Property Management Software Pricing

With a firm understanding of the different pricing structures out there, let’s jump into some quick tips to help sort out your list of software options further. Here are five steps you can take when considering property management software pricing to get a firm grasp on the true cost and long-term value of any investment:

1. Identify Must-Have Features: Start by making a list of essential features you need. Match these with the pricing tiers offered by different software providers to check that you get all the tools necessary to enhance your operations.
2. Consider Future Growth: Think about your company’s future. Look at each software’s pricing structure to determine how costs will increase as you grow and whether the software can accommodate that growth.
3. Use Pricing Calculators: Many providers offer pricing calculators. Utilize these tools to estimate your costs based on the services and door count you require.
4. Read the Fine Print: Read up on and make sure you understand all fees and additional costs. Transparency about pricing is crucial to avoid unexpected expenses.
5. Take Advantage of Free Trials: The best way to truly know the value you’re getting for your investment is to test the software out for yourself using a free trial. While some software providers don’t offer this as an option, the leading solutions on the market do, making it easy to see why they’ve built up a strong reputation.

Buildium offers a 14-day free trial with no credit card required. You can test out the platform to see the value of the features you’ll be paying for first hand and see how they stack up to the competition.