There are two types of property management software and the main difference is in where the program and your data is stored. 

On-premise software requires you to install the platform and store any and all data on to your own server or device (like a laptop, tablet or mobile). This type of software can only be accessed locally (or at a physical location), eg the work station at your office where the program is installed.

Cloud based property management software is generally considered the more cost efficient option and can provide substantial savings for smaller real estate agencies looking to increase their productivity, security and scalability. This type of platform became invaluable during the pandemic when access to offices was limited.

On-premise property management software is significantly more costly, but can potentially provide better speed and stability for day-to-day operations. This type of software is more suitable for large agencies looking to increase efficiency among a big pool of employees at a physical office location.

It also allows agencies to have full control over their data storage and information security which may be a bonus for high-level clients concerned about privacy.

Depending upon the level of detailing and features, property management software in Australia can cost anywhere between $110 and $500 per month for 100 properties.

Most property management software come with several core features. These cover areas such as lease management, maintenance management, accounts, tenancy management, cloud storage facilities, keeping track of utilities and more.

Keep in mind that most PM software can be personalised according to your requirements. If you choose to personalise, the costs could go up to $700 or higher.