Property management software in Australia, compared

On This Page

1. The platforms, side by side
2. What it costs for your rent roll
3. Which ones to look at first
4. What your state requires the software to do
5. Trustless and direct-to-owner payments
6. Your data, and what happens when you leave
7. Switching checklist
8. Where your website fits
9. Questions I get asked

Most property management software comparisons you'll find rank US products and landlord apps, which aren't built around Australian trust accounting law. This guide compares the platforms Australian agencies actually choose between: PropertyMe, MRI Property Tree, Reapit PM (formerly Console Cloud), Kolmeo, Ailo, Managed, OurProperty and MRI Rest Professional. It covers the published prices with their minimums and GST, what your state's trust accounting rules require the software to do, the new "trustless" models, and what each contract says about leaving with your data. I have no commercial relationship with any of these companies, and everything here comes from their own pages and terms and from each state's legislation.

The platforms, side by side

There's no independent survey of which software Australian agencies use. PropertyMe says more Australian agencies choose it than any other platform, Reapit says most agencies in Australia and New Zealand use one of its products, and MRI calls Property Tree the leading platform. None publishes a method, so ask each vendor for references from agencies your size.

Scroll the table sideways to see every column.

Prices are the vendors' own, at the time of writing. Rex sells sales trust accounting and commercial property management (Rex Cirrus8) in Australia; its residential property management page reads as written for the UK, so ask Rex directly. Re-Leased is built for commercial portfolios. MRI Palace is a New Zealand product. The landlord apps and overseas products you'll see on directory sites aren't built for Australian agency trust accounts.

What it costs for your rent roll

Put in your number of properties. Everything below is converted to a monthly figure including GST, because PropertyMe quotes with GST and the others quote without it.

Two of these are my assumptions, so check your quote. PropertyMe prices "per 100 properties" without saying how it bills between the hundreds, so I've rounded up to the next 100. Property Tree's price is a "from" figure, and I've worked it pro rata. At 150 properties, that's about $298 for PropertyMe Basic, $198 for Kolmeo Core, $215 for Property Tree Base and $281 for Managed Core. At 50 properties, Kolmeo isn't available and the floors decide the price.

The subscription isn't the whole bill. Budget for SMS (PropertyMe charges 11 cents each including GST), an inspection app if it isn't built in (Inspection Express starts at $83 a month plus GST for up to 100 units), payments add-ons, and onboarding, which most vendors price on request. Kolmeo also says Core becomes free if its referral revenue share reaches a set amount per property, but that depends on landlords and tenants buying services through it, so don't count on it. Referral income from services sold to your landlords also brings disclosure duties, which my guide to growing a rent roll covers.

Which ones to look at first

What your state requires the software to do

Every state requires a trust account for money you hold for others, regular reconciliation, a yearly audit and records kept for years. The duty is yours, not the vendor's. Victoria's regulator says "whichever system you use, it is your responsibility to ensure you comply", and WA's says it "does not approve of or endorse any software package", adding that a supplier's claim of approval "could be a misrepresentation". So treat "Fair Trading approved" on a sales page as a red flag.

Four states write software controls into their regulations. Ask the vendor to show you each one on screen: a log of every change to an owner's or tenant's name, address and bank account, with the details before and after; no deleting a ledger that still has money in it; mistakes fixed by a separate entry, never an edit; reports numbered in sequence; and every field required.

Before you sign, send sample month-end reports to your auditor and ask whether they'd accept them. WA's regulator suggests exactly that.

Trustless and direct-to-owner payments

PropertyMe (Trustless), Kolmeo, Ailo and Managed all sell a model where rent moves from the tenant to the owner without sitting in your trust account. The rent runs through a payment product with its own financial services licence or disclosure documents. It cuts receipting and reconciliation, which is the appeal.

I couldn't find any state regulator page that rules on these models either way. Queensland's guidance says "You must use your trust account to handle money on behalf of another person", and the trust rules in each state apply to money a licensee receives. These products are built so the agency doesn't receive the rent, and PropertyMe's own blog notes that trust-free accounts aren't typically audited the way trust accounts are. Whether the model works for your agency, and what your audit then covers, is a question for your auditor and your state regulator before you switch.

Your data, and what happens when you leave

Every contract I read says the agency owns its data. The catch is how long you can get at it:

• PropertyMe: read-only access for at least 30 days after cancelling, and "we will not be able to extract Your Content for You". After that, the data is deleted.
• MRI (Property Tree and Rest): MRI may delete client data 30 days after termination, and a backup copy is available for a fee.
• Reapit: data made available for export for 30 days after termination, at your request and cost.
• Kolmeo, Ailo and Managed: I couldn't read export terms, so ask for them in writing.

Meanwhile, your state makes you keep trust records for three to seven years, and auditors can ask for them in written form. So export before you cancel: ledgers, receipts, cash books, reconciliations, trial balances, the change log, owner statements and documents, as PDF reports plus spreadsheet data. On the way in, ask what the new vendor's migration actually moves. Ailo's published standard package, for example, brings across the current lease, ledgers and financial year statements but only the last routine inspection, with anything more costed separately.

Check where the vendor stores your data. Reapit says Australian data centres; PropertyMe stores personal information in Australia but may disclose it overseas. If you're covered by the Privacy Act, that matters for your privacy policy.

Switching checklist

Tick items off as you go; the list remembers your progress on this device.

Where your website fits

Your property management software holds the listings, and your website should show them without retyping. PropertyMe can publish rental listings to realestate.com.au and other sites, and its Advanced plan includes read access to its API. For the other platforms, ask how listings reach your own site before you sign. Landlords judge you on your site long before they see your software, which is where I come in.

Questions I get asked

What is the most popular property management software in Australia?

There's no independent survey. PropertyMe, Reapit and MRI each say they're the most used, and none publishes a method. Ask vendors for references from agencies your size.

How much does property management software cost?

Of the platforms that publish prices, PropertyMe starts at $193 a month including GST for up to 100 properties, Kolmeo charges $1.20 per property plus GST from 100 properties, Property Tree starts from $130 per 100 plus GST, and Managed charges $1.70 per property plus GST. Reapit PM, Ailo and Rest Professional are on request.

Is any trust accounting software government approved?

No. WA's regulator says it doesn't approve or endorse any software package, and a supplier's claim of approval could be a misrepresentation. In every state, compliance is the licensee's responsibility.

Can I run property management without a trust account?

Several platforms now pay rent direct to owners. I couldn't find any regulator ruling on these models, so check with your auditor and your state regulator before switching.

Who owns my data if I change software?

The contracts say you do. But read-only access after cancelling can be as short as 30 days, and some vendors won't extract it for you, so export before you cancel.

How long do I need to keep trust records?

Three years in NSW, five in Queensland, SA and the ACT, six in WA, Tasmania and the NT, and seven in Victoria.