Onboarding & Setup Another popular cost option you may come across is paid onboarding and setup. In this payment structure, you pay a one-time fee to get access to the platform and additional onboarding help. Getting set up with property management software can be time consuming. If you aren’t tech savvy, have several units with leases that need to be uploaded, or simply value having your own account representative to help you get started, you should expect to pay these fees. Freemium This pricing structure is also widely used by online software companies and is no different for property management software companies.
It’s an easy way for companies to give new users a taste of what the platform is like before making them pay. This structure can be presented in a couple different ways. The first is through a free trial, where you will get full access to the platform for a limited number of days before being asked to pay. The other setup is through a feature-light version of the platform. In this layout, you can do basic functions, such as add a property or tenant for free, but not use the software in its full capacity without paying. Free One of the least common pricing structures - but by far the best for your bottom line - is the free
model. In this structure, you get complete access to the software without having to pay any monthly subscriptions, setup fees, unit fees, feature-based fees or onboarding and setup fees. You get unlimited access to the software for as long as you want it. How do they make money? In this structure, you will commonly see minimal fees spread out to tenants. These fees may include the cost of running a screening report when they apply for a rental or small convenience fees for purchasing renter’s insurance or paying rent online each month. These fees are insignificant on an individual level, but when added up across thousands of tenants, they provide a great stream of revenue for the software provider.
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