What Palace does

Palace (marketed as MRI Palace) is a cloud-based property management software platform owned and operated by MRI Software LLC. It is purpose-built for New Zealand's residential property management market and extended into Australia's Community Housing Provider (CHP) segment via a dedicated Social Housing module. The platform addresses the day-to-day operating needs of letting and property management agencies, covering trust accounting, Healthy Homes compliance monitoring, business insights dashboards, task management, maintenance coordination, inspections, invoicing, and secure document signing. It is sold primarily to mid-market and enterprise residential agencies, with named customers including national and franchise brands such as Century 21, Harcourts, LJ Hooker, Ray White, Crockers, Harveys, The Rent Shop, and Wendell Property.

Architecturally, Palace is a platform-plus-modules suite: the core platform provides compliance, accounting, and workflow capabilities, while add-on modules include Maintenance Plus (maintenance request handling and contractor coordination), Invoice Automate (accounts payable automation), Inspection Manager (paperless inspections), Secure Sign (contract and lease signing), Vault CRM (described as AI-powered CRM for real estate), and the Social Housing module. The ecosystem is supported by 52 integrated technology partners. The platform serves 1,200+ agencies managing approximately 230,000 properties with 7,600+ active users, and is operated by a New Zealand-based team (Auckland regional headquarters for MRI Software APAC) under the broader MRI Software LLC entity, which has historically reported collective metrics of 45,000+ clients, 23 million units, and 5.5 million leases managed globally.

Palace operates as a software-as-a-service subscription business on annual billing cycles, with pricing quoted on application rather than disclosed publicly. Go-to-market is direct sales via the MRI Software website (demo requests, brochure downloads), supported by content marketing (case studies, webinars), a knowledge base, and a feature-request voting community, all distributed through MRI Software's wider APAC sales infrastructure. Revenue mechanics combine per-agency subscriptions with module attach (Maintenance Plus, Inspection Manager, Invoice Automate, Secure Sign, Vault CRM) and partner ecosystem monetization. The company has pursued inorganic growth to deepen capabilities, acquiring Proptech Labs in October 2025 and launching the Social Housing vertical for Australian CHPs in mid-2024, signalling an ongoing push beyond its core New Zealand residential agency base.

Name

Palace

Legal name

MRI Software LLC

Website

https://getpalace.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Short description

Palace (MRI Palace) is a cloud-based property management SaaS platform built for New Zealand residential letting agencies and Australian Community Housing Providers, covering trust accounting, Healthy Homes compliance, maintenance, inspections, and signing across 1,200+ agencies and 230,000 properties.

Ownership category

akta.pro rank

Headquarters

HQ city

Albany

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Subscription (SaaS): MRI Palace operates as a SaaS property management platform with subscription-based pricing for residential property managers in New Zealand and Australia, integrated within MRI Software's broader real estate software portfolio

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Palace (branded MRI Palace) is a cloud-based property management software platform for New Zealand residential property managers and community housing providers. It combines trust accounting, tenancy management, Healthy Homes compliance, and maintenance workflows with an ecosystem of add-on modules (Maintenance Plus, Invoice Automate, Inspection Manager, Secure Sign, Vault CRM) and a dedicated Social Housing module, all delivered as a subscription SaaS suite integrated with NZ-specific third-party systems (Xero, MYOB, Realestate.co.nz, Credit Sense, TICA, MSL).

Product overview

MRI Palace is a platform-plus-modules property management software suite. The core MRI Palace platform provides trust accounting, Healthy Homes compliance monitoring, business insights, and task management for New Zealand property managers. It integrates with specialized add-on modules including Maintenance Plus (maintenance coordination), Social Housing (community housing management), Invoice Automate (workflow automation), Inspection Manager (property inspections), Secure Sign (document signing), and Vault CRM (sales and client management). The platform serves over 1,200 agencies managing approximately 230,000 properties across New Zealand.

Differentiator

Problem solved

Functional benefit

Brands

• MRI Palace: Property management software designed for New Zealand's unique regulatory landscape, helping property managers grow rent roll, boost efficiency and stay compliant.
• Maintenance Plus
• Invoice Automate
• Inspection Manager
• Secure Sign
• Vault CRM

Products and services

• MRI Palace Cloud-based property management software for New Zealand residential property managers, covering trust accounting, tenancy management, owner and tenant ledgers, and Healthy Homes compliance.
• Social Housing Module Purpose-built property management software module for New Zealand community and social housing providers, designed to manage social tenancies and related compliance workflows.
• Maintenance Plus Add-on module for MRI Palace that streamlines maintenance request management, contractor coordination, and property maintenance records for residential property managers.
• Invoice Automate Add-on module for MRI Palace that automates invoice processing and accounts payable workflows for property management agencies.
• Inspection Manager Property inspection management add-on used alongside MRI Palace to schedule, record, and report on property inspections, including Healthy Homes inspections.
• Secure Sign Digital signing add-on for MRI Palace that enables electronic signing of tenancy agreements and related property management documents.
• Vault CRM Customer relationship management add-on for MRI Palace, including an AI assistant, that helps property managers manage landlord and tenant relationships and communications.

Quantifiable outcome

• 1.2K+ agencies managing properties on the platform
• +2 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Two partnerships are on record, tiered core.

• Proptech LabscoreTechnology or Integration · 7 October 2025MRI Software acquired Melbourne-based Proptech Labs to enhance its property management solutions in Australia and New Zealand. The acquisition integrates Proptech Labs' specialized capabilities including advanced maintenance, invoicing, key management, inspection management, and AI-driven automation into MRI's Property Tree and Palace platforms.
• Proptech LabscoreTechnology or Integration · 14 November 2024MRI Software and Proptech Labs expanded their partnership to deliver smarter property management solutions across Australia and New Zealand, with capabilities being integrated into the Palace platform.

Scale indicators4 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• PayProp: PayProp is an automated rental payment and trust-accounting platform popular with ANZ property managers; overlaps Palace on trust accounting workflows and increasingly competes as a full PM workflow suite.
• PropertyMe: PropertyMe is an Australian cloud-based residential property management platform with strong ANZ penetration; directly comparable SaaS product targeting the same residential property management agency segment.
• Property Tree: Property Tree is MRI Software's Australian residential property management product and Palace's closest analogue — same vendor, same SaaS model, same target customer (residential property managers), but optimized for Australian rather than NZ regulatory requirements.
• Console: Console is an Australia/NZ-focused trust accounting and property management software provider for residential agencies; competes head-to-head with Palace on the same trust-accounting and compliance use cases across ANZ.
• Re-Leased: Re-Leased is a cloud-based commercial and residential property management platform founded in New Zealand; competes directly with Palace for NZ property management agencies with comparable subscription SaaS positioning and integration ecosystem approach.

Broad incumbents

• Yardi Systems: Yardi is a large global real estate software incumbent offering property management, accounting, and resident services; competes with Palace broadly in the multi-region PM SaaS space rather than as a focused NZ compliance tool.
• RealPage: RealPage is a US-listed broad real estate software incumbent with residential PM, payments, and AI analytics; an adjacent incumbent whose product breadth dwarfs Palace but whose ANZ regulatory localization is weaker.
• MRI Software: MRI Software is Palace's parent and global real estate software provider serving 45K+ clients with 23M units managed; a broad incumbent whose broader portfolio (Agora, Evolution, Lease Accounting) overlaps with adjacent workflows Palace users also purchase.
• AppFolio: AppFolio is a US-focused cloud property management SaaS incumbent for residential and association markets; a relevant analogous incumbent demonstrating the scale potential of vertical PM SaaS though largely absent from ANZ.

Emerging players

• Bricks + Agent: Bricks + Agent is an Australian/NZ property management software built for boutique agencies; an emerging SaaS player targeting a similar but smaller-agency slice of Palace's residential PM market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/realbaselive
• YouTubeyoutube.com/user/mrisoftware
• Facebookfacebook.com/ilovepalace
• LinkedInlinkedin.com/company/palacesoftware

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Palace