There are a number of property accounting software available in the market each with their own merits and demerits. Among all, we found that AppFolio Property Manager definitely has an edge when it comes to the following: –
Functionality
The AppFolio Property Manager is mobile friendly and enables to function freely on work orders and on making vendor payments manually when on the go. The only hardware needed is the mobile phone. All the features of the platform can be accesses from a mobile phone which is not available in most property management softwares.
Wider Coverage
AppFolio covers not only residential or commercial properties, I could also access student housing as well as community associations.
Accounting
It is a complete accounting solution. Has a customized general ledger, cash flow statements, income statement and balance sheet. It supports both the cash and accrual method of accounting.
A user can manage cash flow as well as revenue and expenditure with the utmost convenience and get intelligent reports with great accuracy.
Resident Payments
The time spent on rent week comes down by 50%, through the wide variety of secured online payment options enabling seamless tenant payments 24 x 7. This also improved resident retention.
Owner Services
Making payment to owners is really easy. All that needs to be done is use ACH to make payments to the owners. Besides getting their statements by email, owners also have access to on-demand statements and reports.
All previous reports and current reports can be posted to each owner’s portal. There are no login id’s or passwords to be memorized. Just the login page of the account is needed for access. The owner has to enter their email id and they get a one-time link delivered to their email id. They can access their statements anytime.
Insurance Services
Damages caused by residents are just a part and parcel of the property. Without insurance, the costs of repair and renovation become very expensive.
AppFolio has resolved this issue with AppFolio Insurance Services where residents register for a basic tenant liability insurance program. The resident do not require a renter’s insurance policy. There is instant coverage and it can be activated easily.
Vacancy Posting
Vacancies can be posted across all industry compliant real estate portals in a few clicks. There is also a facility to post the vacancy manually on Craiglist.
Rent Optimization
Occupancy of properties can be improved by finding out comparable rates offered by competitors through Rent Match. This feature is completely free.
Quality tenancy
Get access to the most reliable tenants who have been pre-screened by Experian RentBureau.
Visibility
There are a wide variety of website designs available to gets greater visibility and further collect rent, post vacancies and process maintenance requests.
Budget Variance
AppFolio ensures that the income and expenditure are in line with the budget. The data for all the properties are stored in the app.
Tracking Payments
To keep a track of payments to be made to vendors is difficult. Appfolio ensures we do not. All payment details including invoices are stored in the software which makes it convenient to settle any dues. It supports different check formats and MICR printing is hassle-free.
In the digital age, a portable smartphone compliant office which can function 24×7 from any part of the world is of great use. AppFolio property management software ensures that I am just a click away from my office and is definitely worth investing in.
