RealPage Commercial Pricing - why 4.6/10?

Shlomi LaviShlomi Lavi / Jul 14, 2020

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RealPage Commercial Total Cost Rating: (4.6/10)

When comparing RealPage Commercial to their competitors, on a scale between 1 to 10 RealPage Commercial is rated 4.6, which is similar to the average Property Management software cost. RealPage Commercial are offering few flexible plans to their customers, the basic cost of license starting from $250 per month, read the article below in order to calculate the total cost of ownership (TCO) which includes: customization, data migration, training, hardware, maintnance, updgrades, and more.

You can also leave your info with us to get a free custom quote with the break downs for your business needs.

Property Management Software Price Ranges

Property Management software has subscriptions whose price points are within $10 and more than $100 a month. Some of the software vendors also include additional charges such as API access, installation fees, implementation service, and training. The price model is typically in per month/unit format, but the vendors can state other models in their pricing. Some of the analysis of Property Management software are as follows:

  • Small businesses can expect to pay between $0 and $55 a month for Property Management Software products. For example, Hemlane Basic plan goes for $37 a month for each unit, Propertyware pricing starts at $250 per month and Buildium for $50 monthly. Furthermore, FantasticStay is free, with another Pro plan, which goes for $55 a month. TenantCloud has a Standard subscription that costs $9 a month, with an advanced plan which costs $35 per month.
  • Medium-sized companies would have to pay up to $1000 a month for Property Management Software units. For illustration, TOPS ONE pricing starts at $350 per month, PayHOA Professional cost price at $150 a month, and Storage Commander Cloud pricing goes for $80 monthly. Other vendors charge one-off licenses for their products, an example of such vendors are SKYLINE software, which costs $1000. iRent begins at $200 per month and Spacebase at $400 monthly. Bluebox Modules for the USA and other countries cost $360 a month, and Cirrus8 pricing goes for $450 a month.
  • Large corporations can expect to pay up to $7500 for Property Management Software products. Re-Leased pricing, for instance, goes for $7500 a year, PropertyMe Pro plan can reach up to $6600 per month for multiple properties, and PropertyTree Premium Plus for $1200 a month.

Some of the best of breeds have individual pricing as well, and the analyses are as follows:

  • Apartment Management systems Users can expect to pay between $1 and $129 a month for this software. For instance, ComVibe Pro pricing starts at $1 a month, ADDA ERP at $2 per month, and ClientLook at $129 monthly for each user. Rentredi Monthly plan costs $20 a month, with 3-month and Annual plans going for $15 and $9 per month, respectively. Other vendors charge annually, such as RISSOFT, whose non-cloud based subscription costs $750 a year for one user, and its cloud-based plan going for $1,850 annually. NestEgg pricing starts at $5 per month and Landport at $45 a month.
  • Lease Accounting Software Lease Accounting Software products generally have prices that fall within $50-$300 a month. For instance, iLeasePro has a cost price of $50 per month, ZenTreasury pricing starts at $99 a month, and InfoSite pricing goes for $300 a month. Also, some Lease Accounting software has one-time license charges; for instance, users can outrightly purchase UGAAP for $3600, and Lease4000 for $7,000.
  • Self-Storage Software Self-storage software products typically fall in the price range of $0 to $50 per month. Users can have Unit Trac from 50 cents a month for each unit. Other vendors include 6Storage, which has a starting price of $30 per month for each facility; Yardi Breeze, which costs $1 monthly, and Easy Storage Solutions Software, which goes for $29 a month. Furthermore, Self-Storage Pro charges annually, at the rate of $105 per year.
  • Rental Property management Software These products have cost prices that could be up to $210 monthly. TheHouseMonk, for instance, has a variable cost price that starts at $210 a month for a maximum of 175 units; PropertyZar has a Basic plan which starts at $25, and a Standard and Enterprise plan which users can get for $45 and $130 respectively.
  • Commercial Property Management Software CPM software products have prices that lie within $0 and $179 a month. For illustration, Total Management has a cost price of $1 a month for each unit, Soft4RealEstate pricing starts at $179 per month and UnitConnect for $34 monthly. Users would have to pay $350 a month for PropertyMatrix, and $250 monthly for Yardi Voyager Property Management. Also, PropertyTree has its pricing starting at $129 monthly and AppFolio Property Manager at 80 cents a month per unit.

Property Management - Total Cost Breakdown

When it comes to selecting Property Management software product, buyers are primarily concerned about its cost. In fact, it is the cost that determines whether a potential buyer would go with the product. True, there is no one-size-fits-all formula to determine the “worth” of a software product, but as a software buyer, you want to make sure you get the best value for your money, without having to dig a big hole in your pocket.

Understanding the exact price of Property Management Software isn't easy as The overall cost of software includes the cost of software license, subscription fees, software training cost, customization cost, required hardware, and the cost of maintenance & support and other related services. It's critical that you account for all of these costs to gain an understanding of the system's "total cost of ownership."

3 Software Pricing Models

There are primarily three common pricing models – Perpetual License, Subscription, and Commercial open source.

  • Subscription/Software-As-A-Service: - Relevant for RealPage Commercial
    Under this software pricing model, the software is accessed over the Internet, as opposed to installed on-premises. The payment is made either on a per user basis or subscription basis. Ideally, customers are required to pay a recurring monthly fee until a specific period for using the software. Subscription pricing model is more common with Software-as-a-Service (SaaS) apps.
  • Upfront cost for customization and integration is less compared to perpetual license cost because there is not much flexibility with SaaS systems in this area.
  • Recurring cost is greater as customers are required to make monthly payments as subscription fee. Additionally customers using premium support services must pay an extra fee.
  • All in all, the total cost of ownership in the both cases is almost the same and may span over a period of 7-10 years, though you may have to pay a higher perpetual license fee upfront. The software cost may vary from starter to mid range to enterprise level apps in both cases.
  • Perpetual license: - Relevant for RealPage Commercial
    A common pricing model for on-premise applications, perpetual license requires a customer to pay an upfront sum to own the software or other intellectual property on-premises for a fixed term.
  • Upfront cost involves the fee for installation, customization, integration with existing systems, besides perpetual license fee.
  • Recurring cost is low in this pricing model and may include cost for updates, maintenance, upgrades, and patches. Some vendors do offer premium support services, which come for an extra price.
  • Commercial open source: Not relevant for RealPage Commercial
    The customer can acquire the software free of cost without having to incur any upfront license fee. As a customer, you’re solely responsible for the ongoing maintenance, upgrading, customization, and troubleshooting of the application to meet your specific needs. You are on your own for providing end-user support, since you are not locked in with a vendor-supplied software solution.

RealPage Commercial - cost of customization:

If you need specific features in your software catering to your specific business requirements, the vendor will charge customization cost, depending on your needs and feature requirement. Ideally customization cost is more complex to calculate compared to licensing cost.

Some apps allow you to easily combine data from multiple sources, without any complicated query requirements, while some others can be embedded into different applications to provide enhanced reporting. If you seek products that support customizable dashboards and predictive analysis to identity possible trends and facilitate decision making, you may have to pay higher for all the customization features.

Additionally, the following factors may affect the cost of customization:
  • User interface changes
  • Configurable dashboards
  • Data elements required for tracking
  • Forms to collect additional data
  • Dashboard, management and operational reports that are needed.
  • Workflows and how complex they are.
  • Forms to collect additional data.
Here are some questions to answer: How much customization is needed? How many system you want to integrate to? Does your company work like industry standars or has it's own customize processes? What kind of special reports are needed?

In order to calculate the cost of customization you can use the following estimates:

  • Minimal customization - integrate with 1-2 systems: $2,500
  • Standard customization - integrate with 3-5 systems: $10,000
  • Fully customized system - integrate with more than 5 systems: $25,000

RealPage Commercial - cost of data migration: Relevant for RealPage Commercial

Most companies opt for data migration services from a vendor, which raises the cost of product ownership. If you choose to transfer data on your own, you can avoid paying the cost of data migration.
Data migration cost depends on the amount of data to be transferred, your current software, availability of migration tools, complexity of data, and gaps between the existing system and the new system.

If your data is stored in excel spreadsheets, then it may incur you a lot of time and money to migrate data from excel.
By involving a software services provider in data migration, you are asking them to offer additional services, for which you may have to pay extra.

As a rule of thumb the cost of data migration depents on how many records you want to migrate. Records can include number of Customers, invoices, financial transactions, products, versions, etc. Here is a list you can use as a rule of thumb:

  • 1,000 records: $500
  • 10,000 records: $2,500
  • 100,000 records: $10,000
  • 1,000,000+ records: $25,000

RealPage Commercial - cost of training: Relevant for RealPage Commercial

As a software buyer, you are required to pay extra for in-person training, though some vendors offer web-based training as part of the package. Training cost may involve end-user training, video/self training, group training, department training, and train the trainer.

Training cost derived from the training approach that you select for your organization:
  • End-user training.
  • Group/Department training.
  • Video /self training.
  • Train the trainer approach.

Here are some questions to answer: How many training groups (different departments, usages, type of users) are needed?

In order to calculate the cost of training you can use the following estimates:

  • 1-2 Training Sessions: $500
  • 3-4 Training Sessions: $1,500
  • 5-7 Training Sessions: $2,500
  • 8-10 Training Sessions: $5,000

Cost of Hardware & IT: - Relevant for RealPage Commercial

This can be a major expense for on-premise software buyers that need their own servers and other infrastructure to install the solution. This may be a costlier alternative than cloud solutions. In that case, you may want to go with cloud services that do not involve infrastructural investments and you can rely on the vendor’s web-based solutions.

Software pricing may also depend on software capabilities, including marketing automation, sales automation, help desk, and call center.

Cost of support for RealPage Commercial - An Important Factor:

As a customer investing in a software product, you are looking for constant support, besides the price of the software. Support has become a crucial part of value-based pricing that you are willing to pay as a customer.

There is no use buying a software product and facing inconvenience due to some technical glitches that you know nothing about and are reliant on the vendor to give you a solution. It is crucial that you go for a product from a vendor that provides solutions to ongoing problems.

Shift From Licensing Fee to Subscription Fee Models: - Relevant for RealPage Commercial

In an effort to build more sustained relationships with customers, most software vendors have chosen to offer the managed services model to accommodate changing customer behavior. There has been a significant drop in licensing revenue, thanks to the emergence of software-as-a-service model and downfall of the packaged software.

The new pricing model requires customers to pay little upfront fee and ongoing subscription fee on a monthly basis. The alternate pricing model stretches payments over a period of few years compared to lump-sum licensing fee.

Customers are happy to pay small monthly installments for subscribing to the ongoing support and maintenance services from vendors, without having to pay large upfront payment which can be too much for small businesses.

Compare RealPage Commercial pricing to Alternarive Property Management solutions:

When comparing RealPage Commercial to alternative software tools, on a scale between 1 to 10 RealPage Commercial is rated 4.6, which is similar to the average Property Management software cost.

How Can We Help?

The science of software cost/pricing may not be easy to understand. If you seek to understand software pricing model, get in touch with ITQlick experts. Contact us today and find solutions to all your questions. We will match software vendors that offer the best pricing on technology that fits your needs.

RealPage Commercial specifications

ITQlick Score: 94/100
ITQlick Rating: (3.6/5)
Company: RealPage
Address: Carrollton, Texas 75007, United States
Pricing: Starting from $250 per month
Typical customers: Small business, Medium business, Large business
Platforms: Desktop, Mobile, Cloud
Operating Systems: Mac OS, Windows, Linux