AppFolio Adds Features to Property Management Offering

AppFolio announced new features earlier this month to its cloud-based management products for real estate. One is a security deposit alternative in partnership with Obligo, a data report builder, and a tool to import bank and reconcile bank transactions.

Obligo uses so-called open banking technology to gain access, with permission, to a broader set of financial information on consumers. Its software uses AI systems to analyze the results and determine whether a landlord can trust a consumer enough to let someone become a tenant without paying a security deposit. The company offers an application programming interface, or API, to give other companies access to its capabilities.

Reporting applications have long been a staple of business. With controlled access to data, executives and manager can pull together combinations of information that they find helpful in decision making. AppFolio’s new Report Builder provides “access to improved report customization and combination capabilities,” as the press release says. “These enhancements empower property managers to meet specific reporting requirements, save new reports for future reference and easily share findings all while maintaining drill-down capabilities.”

Bank Feed is the name AppFolio gives to the new bank information connection. The accounting tool allows users to download transactional data and import it into the system. The company claims that it also “simplifies reconciliations utilizing AI, allowing property management organizations to keep cleaner books while freeing staff to focus on high-value, resident-focused work.”

Then there are the additional third-party integrations into the company’s own cloud platform. Some of the existing offerings have been electronic leasing signing, access control and self-guided tours for prospective tenants, automated utility management for compliance and to manage late fees, and workflow optimization.

There are seven new options for users: Homebase (multifamily access control, Wi-Fi, and smart apartment tech); LeadSimple (pulls together AppFolio data to automate marketing campaigns); Opiniion (resident feedback); PetScreening (digital management of tenant pets); ShowMojo (automation of contacts with prospective tenants); zinspector (field-to-office property inspection); and 30 Lines (template-driven website design and management).

“Our research confirms driving operational efficiencies is top of mind for property management executives and frontline staff in the current environment,” the release quoted Will Moxley, AppFolio’s senior vice president of product. “Our newest enhancements address that directly, helping our customers streamline key workflows and achieve greater productivity. Meanwhile, our growing list of integration partners gives our customers quick and easy ways to adopt new technology while retaining control of their data and maintaining the efficiencies their teams achieve by working from a single, easy-to-use platform.”