AppFolio Launches Innovative AI Capabilities and Affordable Housing Solution to Empower Property Managers, Enhance Resident Experiences
07 Junio 2023 - 8:00AM
AppFolio, Inc. (NASDAQ:APPF), a cloud-based technology platform
built for the real estate industry, today introduced a host of new
capabilities to better serve property management customers and
their residents. Innovations include AppFolio Realm, uniting all of
AppFolio’s established AI-powered capabilities and a number of
transformational new additions in a common suite, and an affordable
housing solution enabling property managers to more efficiently
manage affordable housing units. AppFolio also announced new
additions to its rapidly growing AppFolio Stack™ Marketplace, which
allows users to seamlessly integrate specialized point solutions
with AppFolio’s centralized property management software platform.
AppFolio Realm is how the company is delivering on its product
vision to create a world where managing communities feels magical
and effortless, helping property managers streamline workflows,
unlock insights, and boost productivity. With the launch of
AppFolio Realm, AppFolio is adding new AI capabilities powered by
large language models (LLMs):
- Customers can now enable a simple way to automatically generate
compelling marketing descriptions for their units and properties
with AI, while retaining the ability to review, edit, and customize
as needed.
- AppFolio is piloting a new conversational interface with a
select group of trusted users. Customers can ask the software to
complete tasks, draft and send communication, and initiate actions
or processes on their behalf without having to navigate a
traditional graphical interface.
AppFolio is in its fifth year of making meaningful, responsible
investments in AI through products like Smart Maintenance, and its
AI Leasing Assistant, Lisa, along with Bank Feed, Smart Bill Entry,
and FolioGuard Smart Ensure. More than 40% of AppFolio’s more than
18,000 customers already utilize AppFolio’s AI tools to augment
their workflows and deliver superior resident experiences.
“We know that AI is having transformative outcomes for the real
estate industry. Our early adoption of AI and ongoing product
innovation have allowed us to create a more holistic, modern, and
market-leading experience for our customers, and we’ve made
significant investments to ensure that our solutions are built
safely and responsibly,” said Shane Trigg, President and CEO of
AppFolio. “The launch of AppFolio Realm and our expansion into
affordable housing demonstrates our commitment to helping our
customers create exceptional experiences for their residents and
communities.”
AppFolio’s new affordable housing solution is tailored to the
unique needs of customers managing affordable housing properties or
units within their portfolio. According to an upcoming AppFolio
report, operational efficiency is the top challenge for affordable
housing property managers. Through AppFolio, customers can
efficiently operate affordable housing and market rate units on a
single platform, seamlessly manage compliance, streamline
processes, and consolidate accounting operations for conventional
and affordable housing units. AppFolio’s affordable housing product
supports U.S. Department of Housing and Urban Development (HUD)
Project Based Section 8 rental assistance (PBS8), and Low Income
Housing Tax Credit (LIHTC).
“Adding AppFolio’s affordable housing solution to our workflow
has not only saved us time but has helped to unify our team under a
single platform that has increased transparency and streamlined
operations across multiple regions,” said Jessica Berzac, Co-owner
and Principal at UPholdings, an AppFolio customer since 2020. “With
AppFolio’s leading technology and access to relevant data, we’ve
been able to better manage expectations, improve communications,
track outcomes and create more high functioning properties –
ultimately creating a better experience for our team and our
residents.”
With the addition of 13 new partners so far this year, AppFolio
continues to rapidly scale its AppFolio Stack Marketplace. Launched
in 2022, the marketplace now features nearly 30 partners to help
AppFolio customers navigate the complex proptech landscape, while
driving growth and efficiency. The latest additions feature a
variety of modern, innovative solutions to streamline everything
from marketing to leasing, maintenance, and collections, and
include Breezeway, Engrain, Hunter Warfield, Latch, Lula, Mezo,
NetVendor, PointCentral, RemoteLock, Rent Dynamics, Respage,
Showdigs, and SmartProperty.
"We continue to see strong interest from proptech industry
innovators in working with AppFolio,” said Will Moxley, Senior Vice
President of Product at AppFolio. “AppFolio Stack helps customers
seamlessly and reliably extend AppFolio through point solutions –
and gives them a competitive edge.”
To learn more about AppFolio Realm, AppFolio Stack, and
AppFolio’s new affordable housing solution, visit booth #1813 at
NAA Apartmentalize in Atlanta, GA from June 7-9, 2023. Companies
interested in joining the AppFolio Stack Marketplace can apply at
appfolio.com/stack/become-a-partner.
About AppFolio, Inc.AppFolio, Inc. is a
cloud-based technology platform built for the real estate industry.
Our solutions enable our customers to digitally transform their
businesses, address critical business operations and deliver a
better customer experience. For more information about AppFolio,
visit appfolio.com.
AI Leasing Assistant, Lisa and Smart Bill Entry are part of a
suite of AI-powered features within AppFolio Realm, delivering on
its product vision to create a world where managing communities
feels magical and effortless.
New innovations like a conversational interface, currently being
piloted with a select group of trusted users, leverage the power of
large language models (LLMs).
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0f760e4d-6227-4275-9669-d07f1069a4bd
https://www.globenewswire.com/NewsRoom/AttachmentNg/d016edab-ddc2-42ce-9d22-d220e8da8f27
For more information, please contact:
pr@appfolio.com
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