SOC 2 Cost
SOC 2 Cost for PropTech
Estimate SOC 2 spend for property technology companies managing tenant PII, payments, and property management data.
Cost range and timeline snapshot
- •Typical PropTech first-year range: ~$40k–$100k depending on data sensitivity and integration complexity.
- •Recurring tooling: access management, encryption, logging/monitoring, vendor risk tracking.
Timeline bands
- •Readiness: 10–14 weeks if scope is defined and evidence collection is underway.
- •Type I: 3–6 weeks once evidence is stable and access controls are documented.
- •Type II: add 3–12 months observation with consistent logging and access reviews.
Assumptions
- •Tenant and landlord PII in scope; strong access controls and encryption expected.
- •Payment integrations for rent collection and vendor disbursements.
- •Third-party integrations with property management systems and listing services.
Common scope
- •Property management platforms, tenant portals, and landlord dashboards.
- •Payment processors for rent collection and maintenance disbursements.
- •Integration APIs with listing services, background check providers, and maintenance vendors.
Top cost drivers
- •Volume and sensitivity of tenant PII (SSN, financial data, lease history).
- •Payment flow complexity and third-party processor integrations.
- •Multi-tenant architecture isolation requirements.
- •Vendor ecosystem size for property services.
What auditors focus on
- •Tenant data encryption at rest and in transit.
- •Access controls and RBAC for property managers vs tenants.
- •Payment processing security and PCI-adjacent controls.
- •Background check data handling and retention policies.
What changes cost most
- •Adding new property management integrations mid-audit.
- •Expanding payment processor scope after initial scoping.
- •Late discovery of legacy tenant data stores.
Example scenarios
Multi-family property management SaaS
High tenant volume with payment processing drives need for robust access controls and monitoring.
Commercial real estate platform
Fewer but larger transactions; focus on lease data integrity and vendor contract reviews.
Short-term rental management
Integration-heavy with booking platforms; API security and data flow documentation critical.
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