Pricing
Serious tooling. Simple pricing.
Every plan includes the full underwriting engine, unlimited deals, and live-formula Excel exports. Start with 14 days free, no card required.
- 1 seat
- Unlimited deals, spreadsheet imports, and Excel exports
- 25 PDF extractions / month
- Full underwriting engine, all tabs
- Live-formula workbook export
- 2+ seats, shared workspace
- Unlimited spreadsheet imports
- Shared deals, GL memory, chart-of-accounts templates, comps
- 100 PDF extractions / month, pooled
- Portfolios and blended returns
- Team invites and roles
If a subscription ever lapses, your workspace goes read-only. Deals stay visible and exportable. Never hostage.
Billing questions
Wondering what it actually does? The product FAQ covers the asset classes, the engine, sharing, and the limits.
Do I need a card to start?+
No. The trial runs 14 days with full Team features, unlimited spreadsheet imports, and 10 PDF extractions, plus a seeded demo deal you can explore and break. You subscribe inside the app when you're ready.
What counts against the AI quota?+
Only PDF extractions. When Pencil's AI reads a PDF rent roll or T12 page by page, that is one extraction. Spreadsheet imports are unlimited on every plan: Excel and CSV rent rolls, T12s, rehab trackers, commercial rent rolls, and rentable-items directories never count. Neither do manual entry, model edits, or Excel exports.
Is every asset class included on both plans?+
Yes. All nine asset classes, development and acquisition, the partnership and waterfall layer, Monte Carlo, portfolios, share links and the Excel export are in both plans. Team adds seats and the shared workspace, not extra modules. There is no version of Pencil where the engine is crippled to sell you an upgrade.
How do seats work on Team?+
You pay for the seats you use and can add more anytime from the billing portal. Invites are capped at your paid seat count. Everyone in the workspace shares deals, GL memory, chart-of-accounts templates, comps, and portfolios.
Does someone need a subscription to open a deal I share?+
No. Anyone with the link can open your underwriting and change assumptions in their browser without an account. They only need an account to save their own copy, and a subscription is for running their own pipeline: importing their deals, using the agent, exporting.
What happens if I cancel?+
Your workspace becomes read-only. Every deal, model, and version stays visible and exportable, including the full live-formula Excel workbook. Your data is never held hostage. Resubscribe and you pick up exactly where you left off.
Where does my data live?+
In a dedicated Postgres database with row-level security. Workspaces are isolated at the database layer, and that isolation is tested on every release by a harness that attacks each interface as one tenant against another's data.