Appfolio is a US-based company that offers cloud based property management software services. They currently have two products- Appfolio Property Manager and Appfolio Investment Manager.
Appfolio property manager is designed as a one-stop-portal for managing multiple properties in your portfolio, both residential and commercial. Condos, multifamily residences, vacation homes, etc. are also covered.
The property management product is meant for landlords and independent managers to work more efficiently. They claim to leverage automation and AI to streamline functions like customer support, rent payments, fixing maintenance issues, marketing, etc.
Why you should use property management software
Property management software is like a helpful assistant for people who take care of houses or apartments. Here’s why it’s so handy.
Centralized access to information
Property management software allows you to keep all data about the multiple properties you manage, in a centralized database. Tenant details, lease agreements, financial documents, etc. are organized into an easily accessible, secure store of information.
Better communication with tenants
Property management software makes communication with tenants smoother, easier and with less interruptions. Property owners and residents can easily exchange updates on maintenance issues, clarify information about leases, remind each other about payment dates, etc. Residents can also be given feedback survey forms to assess how satisfied they are with the service.
Rent collection and management
Property management software offers an online portal where tenants can make payments online, get reminders for payment due dates, and receive alert notifications for late payment fees. The software also takes care of receipts and records.
Efficient management of maintenance issues
When something needs fixing, like a leaky faucet or a broken door, property management software helps keep track. Managers can log when something’s wrong, schedule repairs, and see how everything is going. No more guessing or forgetting!
All the parties involved will get instant updates about the status of the task, and will be able to send information to each other at the click of a button. This helps fix problems quickly and keeps everyone in the loop.
Paperless work
Say goodbye to mountains of paperwork. With property management software, everything is digital. Documents like lease agreements, receipts, invoices, etc. can be uploaded, shared and accessed via an online portal. This saves time and helps the environment because there’s less need for paper.
Features of Appfolio Property Manager
Accounts and finances
This feature includes management of billing and invoices, tracking rent payments, and calculating late fees. Property owners can also get periodic insights into their financial performance through the reports and analytics feature.
Tenant management
There are online portals for communication and exchange of updates among renters, homeowners, board members and vendors. Renters can use the portal to make monthly rent payments, access important documents like their lease agreement, and submit complaints or maintenance requests for the house.
Centralized communication
If your property management business involves a board of members, they can also have an online portal to access shared documents, place their signatures on forms, and validate invoices without any delay in the process.
Property owners can get instant updates on the activity of their renters, complete tasks, handle work orders and access documents at the click of a button. They also receive periodic reports for insights into their performance.
In fact, property managers can send feedback survey forms to their residents to find out how satisfied they are with the service. You can send a text or email to multiple residents simultaneously, and organize and share documents through the online portal for easy shared access.
Variable pricing
Appfolio offers three different pricing plans, on a per unit per month model. The ‘Core’ plan is a basic plan that includes accounting and reports, marketing and leasing, work order management, inspections and unit turns, communication and customer support. This plan is priced at $1.40 per unit, with a 50 unit minimum, resulting in a $280 spend per month.
Their Plus plan additionally includes leasing metrics, orders and inventory tracking, scale and control, and enhanced customer support. This plan is priced at $3 per unit, with a monthly minimum spend of $900. Finally, the Max plan includes add-ons like customer relationship management.
Online payments
Appfolio’s online portal allows renters to pay their monthly rent amount at the click of a button. They can also set alerts and reminders for payment dates, and be notified of late payment fees if they miss the payment deadline.
Pros
- It is user friendly. Many users have left good reviews about their user interface. It is intuitive, responsive, and has a good visual appeal.
- Comprehensive digital lease template
- Constant upgrades and new features
Cons
Poor customer support
Their customer support is poor, as reported by many users. If a user has an issue with something, they can seek support via email. They usually receive a reply email with a how-to guide for implementing the solution to that problem. These guides are usually programmed, automated responses to commonly faced issues.
But customers often report that sometimes they need to speak to a customer support representative so that they can explain their unique situation and get a solution tailored to their needs. They find it difficult to get through to a human responder on the other end.
Expensive plans
Most of their plans, including the basic plan, are too expensive, and may turn out to be a deal breaker for prospective customers. Appfolio does claim to offer a free trial, but there is not much information about that on their website.
Limited integrations
Integration refers to the ability of Appfolio to connect seamlessly with other software systems. Because this application can’t integrate with many other tools, there are not many changes you can make to the applications in order to customize your experience.
To conclude, Appfolio is known for its userfriendly interface and frequent feature upgrades. They have many features, even in their basic plan, that are essential for a running an efficient property management business. On the other hand, their customer support service needs improvement, and their pricing plans go higher than most competitors.
If you are a property owner or manager who is exploring property management software, hope this review helped you with your search. Good luck!
