If you work in the property management industry, you’ve probably heard of AppFolio, a powerful program made to make duties related to property management easier to do. We’ll examine AppFolio’s price in detail in this extensive guide, covering features, advantages, and whether the product is worth the money.
What is AppFolio?
AppFolio is a property management system developed for property managers to properly handle various sorts of portfolios, such as residential, commercial, student housing, and community associations. It serves as a complete toolkit, assisting with important duties such as marketing website construction, electronic lease generation, automatic listing syndication, and tenant-owner contact.
Notably, AppFolio incorporates cutting-edge technologies to improve responsiveness and efficiency, like an AI leasing assistant and a round-the-clock maintenance contact center. With features including accounting, maintenance management, and tenant communication tools, its major goal is to streamline property management operations.
AppFolio is a useful tool for efficiently managing properties since it offers transparent pricing options and serves companies of all sizes in the property management industry.
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Why You Might Need Property Management Software?
Property management software enables firms to precisely plan their budgets and efficiently allocate resources. It also allows property managers to undertake cost-benefit assessments, ensuring that the facilities offered are worth the price.
Furthermore, understanding costs provides financial sustainability and prevents future financial stress. Also, it enables property managers to pinpoint critical characteristics and save excessive costs. Finally, understanding the costs associated with scalability aids in planning for future development without incurring exorbitant cost increases
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Key Features and Benefits of AppFolio
The following are the main features of AppFolio, which is a comprehensive property management system designed to meet the varied demands of property managers in a range of portfolios, including residential, commercial, student housing, and community associations:
Customizable Online Leases
With AppFolio’s online lease tool, property managers can rapidly create branded leases that can be electronically signed on any device. The technology offers configurable solutions to fulfill specific requirements by automatically combining information submitted by potential renters in the online rental application with the lease.
Communication Module
Easy communication with tenants, owners, suppliers, and potential customers is made possible by the platform’s communication module. AppFolio stores conversation histories, enabling users to have email and text message chats right within the platform. Users can also send out announcements, alerts, and newsletters in mass via text message or email.
Real Estate Promotion
To make the process of creating property listings and successfully marketing them to potential tenants easier, AppFolio provides powerful property marketing tools. Additionally, these options offer the ability to acquire a marketing website connected with the platform, automatically syndicate listings to well-known property listing websites, and create customizable property listings.
Maintenance Management
Property managers may examine maintenance requests, manage work orders, plan recurring work orders, allocate vendors, and more with AppFolio’s maintenance module. In addition, the platform provides a round-the-clock maintenance contact center service to handle tenant inquiries, assign vendors, and input data straight into the platform.
Applicant Management
With features like visitor cards, online rental applications, and an AI leasing assistant that answers questions about rentals around the clock, AppFolio streamlines the applicant management process. Additionally, property managers can perform credit and background checks on candidates using tenant screening services; the screening findings are automatically posted on the platform.
Accounting
Property managers may manage their money with the help of the platform’s accounting module, which helps with bank reconciliations, smart bill entry, and accounts receivable. With AppFolio’s reporting features, customers can keep an eye on and display important data points related to their properties. Plus subscribers can access real-time, customizable reports and analytics.
Resident Management
Through online tenant and owner portals, AppFolio makes resident administration easier. Rent payments, maintenance requests, lease viewing, and insurance coverage summaries can all be accessed by tenants via the portal. Through the owner portal, property owners can study reports, make contributions, and remain up to speed on the performance and finances of their properties.
Rent Collections and Payments
With online payment options that accommodate many payment dates and ways, AppFolio simplifies rent collections and payments. Users can electronically collect application fees, rent, dues, and owner contributions, and the system automatically enters payments into the database to facilitate quicker and more accurate accounting. Additionally, this streamlined process ensures efficient management of financial transactions.
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How Much Does Appfolio Charge?
The property management software AppFolio has a tiered price structure depending on the number of units it manages. For portfolios managing up to 50 units, the minimum monthly price is $280; the cost varies according to the type of portfolio and plan selected.
The Plus plan is for business portfolios, and the Core plan is for residential portfolios. The Core plan is available to community associations for $0.80 per unit. Liability insurance is $9.50 per unit each month, AI Leasing Assistants are $2.50 per unit, and tenant screening services range from $15.00 to $20.00 per screening.
ACH, credit card, debit card, electronic cash payment, application fees, and bill pay are among the transaction costs for online payments. With a monthly hosting price of $99.00 per site, a professional website setup costs $2,000 for the first website and $750.00 for additional websites.
There is a minimum requirement of 200 units and a monthly price of $1.50 per unit for the 24/7 Maintenance Contact Center service.
| Feature | Pricing |
| Monthly Fee | $280 minimum |
| Residential (Core) | $1.40 per unit |
| Residential (Plus) | $3.00 per unit |
| Commercial (Core) | $1.50 per unit |
| Commercial (Plus) | $3.00 per unit |
| Community Associations (Core) | $0.80 per unit |
| AI Leasing Assistant | $2.50 per unit (500 unit minimum) |
| Tenant Screening | $15.00 – $20.00 per screening |
| Liability Insurance | $9.50 per unit per month |
| Renters Insurance | Varies by location & coverage |
| Online Payments (Tenant) | ACH: Free, Credit Card: 2.99%, Debit Card: $9.99 |
| Electronic Cash Payment: $3.99, Application Fee: $5.00 | |
| Online Payments (Owner/Vendor) | ACH: $0.50 per transaction, Bill Pay: $0.80 per transaction |
| Professional Websites (Setup) | $2,000.00 for 1st website, $750.00 for additional sites |
| Professional Websites (Monthly Hosting) | $99.00 per site per month |
| 24/7 Maintenance Contact Center | $1.50 per unit (200 unit minimum) |
Pros and Cons of the AppFolio Software
Before making a decision, it is critical to examine the advantages and cons of using AppFolio.
Pros:
- Scalable pricing plans that adapt to different portfolio sizes
- Feature-rich programs that streamline property management tasks.
- Transparent price structure with no hidden fees.
- Cloud-based platform with easy accessibility
- Users get regular upgrades and dedicated support.
Cons:
- Additional fees for some features may boost total prices.
- There is a learning curve during the onboarding process, and customization choices are limited compared to others.
- Long-term usage may increase the risk of vendor lock-in.
Is AppFolio Worth it?
Yes, AppFolio is worth considering for property managers with a large portfolio and sufficient resources to cover its costs. However, whether it’s worthwhile depends on your requirements and circumstances.
AppFolio provides an extensive feature set that simplifies all aspects of property management, including marketing, accounting, and reporting. Its automated features can greatly improve operational effectiveness, particularly for property managers who oversee a high number of properties.
For entry-level portfolios, the pricing structure, which starts at $250 per month, could appear high. However, the advantages and time savings can outweigh the expense for individuals overseeing a sizable number of units. Furthermore, AppFolio’s scalability allows it to develop alongside your company, adding value as your portfolio grows.
However, alternative solutions like Buildium, Avail, or Cozy might be more appropriate for independent landlords with smaller portfolios or tighter budgets. These platforms are more affordable for people with limited resources because they provide comparable functionality at lower prices or even free solutions.
Frequently Asked QuestionsÂ
The alternatives to AppFolio include Buildium, Avail, Cozy, and Propertyware.
No, AppFolio does not offer a free plan.