5 Property Management Software Success Stories [2024]
Property management software is a specialized tool designed to help individuals or companies efficiently oversee and organize their real estate assets.
It streamlines tasks such as rent collection, lease tracking, maintenance scheduling, and financial reporting, making it an essential solution for those involved in property management.
Developing and offering property management software can be lucrative due to the increasing demand for automated solutions that save time, reduce manual errors, and enhance operational efficiency in the dynamic real estate industry.
Here are some real life success stories of starting a property management software:
1. TenantCloud ($12M/year)
The founder of TenantCloud, who grew up in a small reservation town, became both an investor and a landlord, experiencing the challenges firsthand. Recognizing the need to streamline property management for landlords, they created a product that combines various functions such as rent collection, tenant screening, maintenance scheduling, and accounting all in one platform, catering to the 15 million landlords in the US who own 21 million rentals and house 60 million tenants. With a projected revenue of $15 million in 2021, TenantCloud has achieved profitability and plans to continue growing by making strategic acquisitions in the future.
How much they make: $12M/year
How much did it cost to start: $250K
Current team size: 130
TenantCloud is a leading property management software designed to assist DIY landlords in managing their rental properties, with revenue projected to reach almost $15 million by the end of 2021.
2. Casa Mia Coliving ($2.4M/year)
Eugenio and Ahmed, co-founders of Casa Mia Coliving, came up with the idea for their business after experiencing challenges with finding suitable accommodations while working in different countries. They saw the potential for coliving and decided to create a sustainable and modern coliving company in Singapore. Through their innovative approach and effective marketing strategies, Casa Mia Coliving has reached an annual revenue of $2.5 million and aims to double their business this year while launching in a second city.
How much they make: $2.4M/year
Current team size: 7
Casa Mia Coliving, a sustainable and modern co-living and property management company in Singapore offering affordable accommodation, has an annualized revenue of $2.5M with 150 bedrooms across popular neighborhoods, attracting young professionals and boasting a 10x LTV/CAC ratio, all while focusing on unit economics and profitable growth.
So... can you actually make money with a property management software?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. Propster ($1.2M/year)
How much they make: $1.2M/year
Current team size: 28
PROPSTER is a cloud-based configuration platform that helps property companies increase off-plan sales, improve efficiency, and give customers a great purchasing experience with over 8k users, 5 countries, and more than 200 projects.
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
