Propaya review, pricing and alternatives: what the YC lease abstraction tool costs now that it sells property health signals

Everything in the Propaya column below is taken from propaya.com and its Y Combinator listing as of September 2026, plus an archived copy of the site from May 2025 where the change matters. Nothing here comes from a directory or an AI-written review site, because those still describe the 2024 product.

Propaya no longer publishes a price. An archived copy of propaya.com from 25 May 2025 shows a navigation bar with Home, Features, Pricing and Contact, plus a Log In link. The live site in September 2026 shows Home, Features, Contact and Terms of Service, and a request for propaya.com/pricing returns a 404. The only pricing language left is on the features page: "Our custom built solutions are priced at a rate that works for you and your company."

That wording is consistent with the rest of the site. Propaya has described itself as a custom-solution shop since 2024, when the homepage said its developers "work closely with our industry experts to create custom made solutions specifically with your needs in mind". Removing the pricing page did not change the model so much as stop implying a rate card existed. For a buyer it still means the same thing: you cannot budget for Propaya without a call.

No, and this is the number most third-party write-ups get wrong. The $25 figure appears on propaya.com/features inside a before-and-after comparison. Propaya puts manual lease review at four hours and $200 per lease, and its own process at five minutes or less and $25 per lease. It is an illustration of the saving, sitting next to claims that manual review runs 10 to 15 hours end to end against 5 to 10 hours with Propaya, and that 78 percent of lease reviews contain erroneous or outdated information.

Those are Propaya's own figures, presented as marketing, and none of them is a plan you can purchase. Treat $25 per lease as the number a salesperson will anchor to, then ask for the written quote: how many leases, what happens to amendments, whether the property-health signals are included or priced separately, and what the annual minimum is. The gap between an anchor and a contract is where these deals get expensive.

The six features Propaya lists, in its own words:

Read that list and the direction is obvious. Three of the six features are abstraction and its output. The other three are the risk platform being built on top. The workflow on the homepage says the same thing: upload lease files, addenda, inspection notes, notices or property documents, get lease and bio-property intelligence, then export or route the flagged findings. Inspection notes are not a lease abstraction input. They are a building-condition input.

It would be dishonest to pretend this pivot is a weakness for every buyer. If your actual problem is that lease obligations and physical building condition live in separate systems, nobody else in this category is trying to join them. An investor running condition diligence on an acquisition, or an owner whose disputes turn on mold and indoor air quality rather than on rent math, gets something from Propaya that a lease abstraction tool does not offer. The customizable risk taxonomy and the routing step are built for exactly that: flag it, send it to the person who owns it, track it at portfolio level.

The net effective rent calculator is also a real convenience for brokers, who otherwise rebuild that spreadsheet for every deal. And the citation feature is table stakes done properly. None of this is vapor. It is simply a different product from a lease abstraction tool, sold a different way, at a price you have to ask for.

Propaya went through Y Combinator in the Summer 2024 batch, is based in San Francisco and lists a team size of two. The founders are Reader Wang, previously an aerospace engineer at SpaceX, and Jake Golas, previously a full-stack developer at Epic Systems. They met at Phillips Academy Andover in 2015, and YC records that the idea came out of managing their family's rental property portfolio. The site footer still reads "Copyright 2024 Propaya, a Zzyzzx Inc. product", and the listed office is 2261 Market St, San Francisco.

A two-person team is worth weighing honestly in both directions. You will get the founders on the call and probably on support, which is more attention than any enterprise vendor will give a mid-sized portfolio. You are also depending on two people to keep a system of record alive for the life of the leases in it. That risk is not theoretical in this category: LeaseLens and Lextract have both gone offline, Kira was absorbed into Litera and Leverton into MRI. Export your data on a schedule regardless of which vendor you pick.

Because there is no price to read, the call is where you find out whether Propaya fits. Five questions decide it:

• What is the unit, and what is the minimum? Per lease, per document, per page, or a platform fee with abstraction bundled. Ask for the annual figure, not the unit, because the minimum is what you actually pay.
• How are amendments counted? A lease with four amendments is five documents. Vendors that quote per document and portfolios that average two amendments per lease produce invoices roughly three times the headline number.
• Is the property-health module separate? It is the part of the product being invested in, which usually means it is the part that carries a price.
• What is the field list, and can you match ours? A 40-field abstract and a 120-field abstract are different products. Bring the lease abstract template your system expects and ask them to map to it.
• What does export look like on the way out? Word and Excel are fine for a report. Ask specifically whether you can get the full structured dataset out if you leave.

If the answers come back as a quote larger than your abstraction budget, the fallback is not an offshore batch. It is self-serve abstraction software at a price you can read, with the review kept in house.

Propaya sits in a specific corner of this market: venture-backed, AI-first, quote-only, small. Here is how that corner compares on the one thing a buyer can check before a call, which is whether a price exists.

The wider field, including the lease administration platforms and the outsourced services, is laid out in our lease abstraction software comparison and priced side by side in the lease abstraction software pricing roundup.