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Real Estate · head to head

ARGUS Enterprise vs Propertyware

ARGUS Enterprise logo

ARGUS Enterprise

Real Estate

Cash flow forecasting and valuation software for commercial real estate, the industry-standard modelling tool now sold by Altus Group with no published price

From
On request
Rated
-
Full reviewWebsite
Propertyware logo

Propertyware

Real Estate

Single-family rental management from RealPage, sold per unit above a monthly minimum with a paid implementation

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: ARGUS Enterprise pricing is entirely unpublished and quoted per user, making it hard to budget for a growing team without an ongoing sales relationship with Altus Group.; Propertyware pricing is per unit against a monthly minimum and there is a separate implementation fee, usually a multiple of the monthly subscription, so first-year cost is well above twelve times the running rate.
  • They diverge on capability: ARGUS Enterprise covers DCF valuation, Propertyware covers Custom fields and screens.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which ARGUS Enterprise and Propertyware actually diverge.

Attributes where ARGUS Enterprise and Propertyware differ
AttributeARGUS EnterprisePropertyware
Pricing modelquotePer unit per month with a monthly minimum
PlatformsWindows, WebWeb, iOS, Android

Identical on both: starting price (On request), free tier (No), user rating (Not yet rated), category (Real Estate).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in ARGUS Enterprise

  • DCF valuation
  • Traditional capitalisation methods
  • Lease-by-lease analysis
  • Portfolio budgeting
  • ARGUS Intelligence
  • ARGUS file interoperability

Only in Propertyware

  • Custom fields and screens
  • Configurable owner portals
  • Open API
  • Owner accounting
  • Maintenance and vendor management
  • Inspections
  • Leasing and marketing

What people use each for

The jobs each tool is most often brought in to do.

ARGUS Enterprise

  • An institutional investor needing DCF valuations in the ARGUS file format lenders and counterparties expectnot Propertyware
  • An appraiser producing defensible, industry-standard valuation reports for institutional clientsnot Propertyware
  • A REIT or investment manager running portfolio-wide budget and scenario comparisons across propertiesnot Propertyware
  • A CRE professional pursuing ARGUS Software Certification as a recognised credential for career progressionnot Propertyware

Propertyware

  • A single-family operator with 500 or more scattered doors that need per-owner branded portalsnot ARGUS Enterprise
  • A manager whose operating model does not fit standard software and who needs custom fields and screens rather than workaroundsnot ARGUS Enterprise
  • An operator integrating property data into an in-house acquisitions or investor reporting system through an APInot ARGUS Enterprise
  • A regional business running several markets under one ledger with owner-level management fee rules that differ by contractnot ARGUS Enterprise

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

ARGUS Enterprise

  • Pricing is entirely unpublished and quoted per user, making it hard to budget for a growing team without an ongoing sales relationship with Altus Group.
  • Because the ARGUS file format is the institutional standard, firms are effectively locked into the platform to participate fully in institutional deal flow, regardless of whether a cheaper tool would otherwise serve them.
  • The interface and modelling workflow have a steep learning curve, which is precisely why the ARGUS Software Certification exists as a distinct, paid credentialing track.
  • Altus Group also owns Reonomy, a CRE data product, which means a firm buying both ARGUS and Reonomy is concentrating spend with a single vendor across valuation and data.
  • It is a modelling and valuation tool, not a data source; a firm still needs separate market data (CoStar, Reonomy or similar) to populate the assumptions ARGUS models run on.

Propertyware

  • Pricing is per unit against a monthly minimum and there is a separate implementation fee, usually a multiple of the monthly subscription, so first-year cost is well above twelve times the running rate.
  • Propertyware sits inside RealPage alongside strategic enterprise platforms, so the practical risk is not that it stops working but that it receives maintenance rather than development; ask for a written roadmap and end-of-life notice period.
  • The interface is dated relative to newer cloud entrants, and the configurability that makes it capable also makes it slow to set up, which is why implementation is chargeable in the first place.
  • It is built for scattered-site single-family stock, so apartment community workflows, commercial leases and HOA management are all poorly served.
  • RealPage is the defendant in United States antitrust litigation concerning its revenue management software, which does not affect this product directly but is a factor when you are weighing a multi-year contract with the parent.

Pricing, plan by plan

ARGUS Enterprise

On request
  • ARGUS Enterprise$undefined/year
    • No published pricing, quote required from Altus Group
    • Licensed per user, typically annual subscription
    • ARGUS Intelligence and certification training priced separately

Propertyware

On request
  • Basic$undefined/month
    • Per unit rate against a monthly minimum
    • Accounting, maintenance and tenant portal
    • Implementation fee charged separately
  • Plus$undefined/month
    • Higher per unit rate against the same style of minimum
    • Owner portals and custom fields
    • Inspections
  • Premium$undefined/month
    • Highest per unit rate
    • Open API access
    • Custom portals and advanced configuration

Which should you pick?

Choose ARGUS Enterprise if

  • You need dcf valuation.
  • You work on Windows, Web.
  • You also want traditional capitalisation methods.
ARGUS Enterprise review

Choose Propertyware if

  • You need custom fields and screens.
  • You work on Web, iOS, Android.
  • You also want configurable owner portals.
Propertyware review

Questions people ask

Is ARGUS Enterprise or Propertyware better?
Neither clearly leads. ARGUS Enterprise starts at On request and Propertyware at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, ARGUS Enterprise or Propertyware?
ARGUS Enterprise starts at On request and Propertyware at On request.
Does ARGUS Enterprise or Propertyware run on more platforms?
ARGUS Enterprise runs on Windows, Web. Propertyware runs on Web, iOS, Android.
What is ARGUS Enterprise best used for?
ARGUS Enterprise is most often used for an institutional investor needing dcf valuations in the argus file format lenders and counterparties expect, an appraiser producing defensible, industry-standard valuation reports for institutional clients, a reit or investment manager running portfolio-wide budget and scenario comparisons across properties, a cre professional pursuing argus software certification as a recognised credential for career progression. Of those, an institutional investor needing dcf valuations in the argus file format lenders and counterparties expect and an appraiser producing defensible, industry-standard valuation reports for institutional clients are not what Propertyware is typically brought in for.
What can ARGUS Enterprise do that Propertyware cannot?
ARGUS Enterprise covers DCF valuation, Traditional capitalisation methods, Lease-by-lease analysis, Portfolio budgeting. Propertyware covers Custom fields and screens, Configurable owner portals, Open API, Owner accounting.

Answered from the vendors’ own pages

ARGUS Enterprise: Is there a published ARGUS Enterprise price?

No. Altus Group quotes pricing directly, licensed per user on typically an annual basis.

Propertyware: Is Propertyware still being developed?

That is the question to put to the vendor in writing. It belongs to RealPage, whose development focus is its enterprise multifamily platforms, so ask for a release history and a stated end-of-life notice period.

ARGUS Enterprise: What is ARGUS Software Certification?

A professional credential recognising proficiency in ARGUS Enterprise, reflecting how central the platform is to institutional CRE valuation work.

Propertyware: Why is there an implementation fee?

Because the product is configured rather than switched on. Custom fields, portals and owner fee rules are set up during onboarding, and the fee is typically a multiple of the monthly subscription.

ARGUS Enterprise: Why is ARGUS considered an industry standard?

Its output file format has become the de facto exchange standard lenders and institutional investors expect when reviewing a commercial property valuation.

Propertyware: Does it work for apartment communities?

Not well. It is designed for scattered-site single-family portfolios; apartment operators are steered towards other RealPage products.

Propertyware: Can I get my data out?

Yes, through the open API and standard exports, which is worth exercising during evaluation rather than at the point you decide to leave.

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