Business
AppFolio Leads the Real Estate Industry’s Digital Transformation With the Release of New Capabilities
SANTA BARBARA, Calif., June 10, 2020 (GLOBE NEWSWIRE) -- AppFolio, Inc. (NASDAQ: APPF), a leading provider of industry-specific, cloud-based software
About this update from Appfolio, Inc.
[{"type":"text","content":"SANTA BARBARA, Calif., June 10, 2020 (GLOBE NEWSWIRE) -- AppFolio, Inc. (NASDAQ: APPF), a leading provider of industry-specific, cloud-based software solutions, services, and data analytics to the real estate and legal markets, has expanded AppFolio Property Manager and AppFolio Property Manager PLUS product capabilities in light of the evolving needs of their customers, given the unique challenges brought on by the COVID-19 crisis.\n AppFolio’s technology is designed to enable superior customer experiences and increase efficiency and productivity. The current disruption stemming from COVID-19 has accelerated the need for digital transformation in the real estate industry. AppFolio users were poised to adapt quickly to the rapidly changing environment, maintaining business continuity, and continuing to serve their many customers in these difficult times. AppFolio’s recent product innovations focus on resident retention, leasing, and communication, and are driven by real-time industry needs, our customers’ collective input, and survey data and insights. More Flexibility to Support Resident RetentionAppFolio asked property management professionals in a recent survey of how their priorities have shifted as a result of the COVID-19 crisis. Out of over 1,000 respondents, 43% said resident retention had become increasingly important. To help residents navigate financial hardships and keep them in their homes, AppFolio has enhanced rent collection features with flexible payment options to allow property managers to waive late fees across their properties for a designated time and to use payment plans to convert existing charges into a series of payments. These enhanced features not only provide relief to residents and homeowners but give property management professionals increased visibility into the amounts owed and the timing of repayments. Leveraging Virtual Leasing for the Long-TermIn addition to resident retention, 71% of survey respondents reported their priority for virtual showings has increased, and 64% said they believe virtual showings are here to stay. AppFolio’s recent leasing innovations include the addition of AppFolio Virtual Showings and 3D Virtual Tours, enabling customers to show available units and sign new leases without in-person contact. AppFolio Virtual Showings host live video walkthroughs of units with prospec...