AppFolio Boosts Property Management Technology

AppFolio is expanding its property management technology, adding new tools like real time data and revenue management. The new services are available through AppFolio Property Manager Plus as an added tier to the standard AppFolio Property Manager platform. The new tools were added in response to needs from property managers as a way to create more efficiency and drive better property performance at large property management groups.

“We’ve watched our customers evolve and grow their businesses, and have seen new, complex challenges arise,” Nat Kunes VP of product management at AppFolio, tells GlobeSt.com. “Not only are these businesses utilizing software to deliver on the key processes of property management, but they look to technology to support every facet of their business, from building repeatable, scalable processes to leveraging data for detailed insights on their business performance. As we learned from our customers and observed the unmet needs in the industry, we’ve identified new opportunities where technology further enables property management companies to scale and realize their goals as a modern business.”

The new tools include performance insights, including real-time data and custom dashboards so that property managers can respond in minutes; built-in workflow functions that can automate routine tasks; revenue management and optimization tools that can relay information on leasing performance and market conditions; and account management tools. “This new tier was specifically designed to help solve the needs of these larger and more complex businesses,” adds Kunes. “APM Plus offers an expanded set of capabilities that enable organizations to gain the insights they need to make strategic decisions and manage their business at scale.”

These new features are designed to help property managers maximize value at an asset and create more efficient workflow. “The suite of capabilities included in AppFolio Property Manager Plus ultimately enable customers to have the key insights they need to make strategic decisions and drive the performance of their business,” adds Kunes. “The expanded suite of capabilities in APM Plus work together to enable organizations to gain efficiencies and increase revenue by unlocking the full potential their people, processes and business. As an organization grows and becomes more complex, the ability to effectively manage a distributed portfolio and team becomes increasingly important.”

Kunes highlights configurable workflow features, real-time data and revenue management as some of the key new features that can have a big impact on a property manager’s bottom line. Configurable workflows, which allows customers to create tasks, and automate and optimize their processes, is built directly into the software and ensures that important work is completed on time, providing a consistent experience for clients every time,” he explains. “In addition, managers are able to onboard new employees quickly while the software guides the user through each workflow, cutting down on training time and providing clear oversight for leadership.”

Real-time data features allow property managers to react quickly—which is invaluable in today’s business world. “With real-time performance insights, customers can take control of their business and make strategic decisions quickly,” says Kunes. “Whether looking to compare performance across properties or financial data from years past, the customizable dashboards and data visualizations help provide greater visibility across properties and teams, and allow executives to identify areas of opportunity to improve their business.”

Finally, Kunes says that revenue management can maximize rent collection, accurately price units and allows property managers to update all listings with efficiency. “Property managers are able to adjust pricing in real-time based on demand and market conditions to stay ahead of their competition,” he explains. “Units are priced to drive maximum revenue, impacting the business’ bottom line and delivering new value to property owners.”