At the beginning of 2024, the second annual AppFolio Property Manager Benchmark Report revealed that property management professionals prioritized finding new ways to attract residents, uncovering cost savings, and building business resilience. Alongside these priorities, the real estate industry faced growing demands to improve efficiency, reduce busywork, and enhance the resident experience.
As we look back on 2024, we see how these challenges inspired AppFolio’s product development and innovation, driving us to deliver technology and solutions to help you thrive in an evolving rental market and propel your business forward with confidence.
Read on to learn what we delivered in Q4 in the areas of artificial intelligence (AI), fraud prevention, student housing, affordable housing, accounting and reporting, and maintenance. We’d love to know what you think! Want to see all of the innovations that were released in 2024? Check out our product showcases for spring, summer, and fall.
Last modified: December 19, 2024
By: Rae Parker
First announced in June 2023, AppFolio Realm-X is now available for every AppFolio Property Manager customer. All users have access to Realm-X Assistant to help navigate through to-dos as well as Realm-X Messages for sorting, actioning, and responding to resident messages. Customers using AppFolio Property Manager Plus and Max plans will also benefit from Realm-X Flows for standardizing and automating business workflows.
The impact of Realm-X is already making significant waves. According to a recent customer survey, users are experiencing significant time savings across various tasks. On average, Realm-X users report:
We see these results as just the beginning of a future marked by enhanced performance, powered by AppFolio.
Maliyah Williams
Fairlawn Real Estate, 5,600+ units
When reviewing applications from potential residents, it can be hard to know whether applicant-provided documents have been tampered with. We’ve enhanced our Income Verification solution to include Document Verification. This feature tests whether an applicant-uploaded pay stub is authentic by automatically running document-level and field-level checks.
Document Verification is included within our existing Income Verification product, and customers using this feature will receive the following results once an applicant uploads a pay stub:
Don’t let one fraudulent application lead to hefty losses in rent and eviction fees. Before approving prospective residents, you should feel confident that applicants are who they say they are. With AppFolio’s new ID Verification feature, you’ll gain higher confidence that you are spotting and stopping fake applicants before they impact your community and bottom line.
Available for all AppFolio screening customers, ID Verification seamlessly integrates into the rental application process, allowing you to quickly validate an applicant’s identity in real time and receive answers to three key questions:
Learn more about AppFolio’s anti-fraud solutions here.
Managing a student housing portfolio comes with a host of nuances, from shifting demands to preferred lease types. With AppFolio Flexible Leasing, you can lease by the bed, or jointly and severally, depending on the market’s needs and preferences. This ensures that you can fill all vacancies during pre-leasing.
With Pre-Leasing Metrics, you can prevent last-minute panic. This powerful tool helps you understand when and how to adjust your leasing strategy so you can fill your spaces faster — regardless of lease type. These student housing capabilities and others are available in the Plus and Max plans. Learn more here.
The stress of managing your waitlist shouldn’t deflate the excitement that comes with one of the best parts of your job — moving a new resident into their apartment and off the waitlist for good. Conveniently oversee critical waitlist requirements and review key application details from a single source in AppFolio Property Manager.
By maintaining your waitlist in AppFolio, you can track applicants against HUD’s rules and guidance, implement preferences specific to your own property based on HUD’s requirements, and easily notate key information for prospective residents — including all engagements and interactions — to ensure you make the most informed decisions. Managing all aspects of your waitlist with AppFolio removes the need to toggle between different software tools or spreadsheets, limits the risk of error, and creates more efficiency in your workflow.
Recouping costs from HUD for subsidy payments is critical to your bottom line and financial stability. It also makes things a lot easier when you can handle the whole process in one place. With our updated HAP Request capabilities, you can easily create, review, and submit all of the required components of a HAP Request directly in AppFolio. This allows you to keep a historical record of HAP Request submissions to ensure you have a single system of record for your compliance documents.
The following components required for HAP Requests are now available in AppFolio Property Manager:
Learn more about our affordable housing capabilities available within the AppFolio Property Manager Plus and Max plans here.
We’ve made two new, exciting updates to our calendar feature. You can now connect your personal calendar to AppFolio Property Manager, syncing your real-time availability for showings. In addition to Google, we’ve also expanded integrations to include Outlook, Exchange, Microsoft 365, and iCloud calendars, allowing events scheduled in AppFolio to sync automatically with your personal calendar.
Leasing is central to property management, and to run a healthy business, you must understand leasing and occupancy performance so you can make informed decisions about maintaining positive momentum.
Our Box Score Report provides you with at-a-glance visibility into leasing and occupancy activity across unit types, properties, and portfolios. It equips you to pinpoint areas of friction in your leasing flow, make smarter decisions that optimize performance, and clearly understand your leasing pipeline with conversion tracking for every phase.
Breeze through budget season with Budget Leasing Assumptions. With this new budget creation tool, you can manage all of your property budgeting in AppFolio with increased consistency and transparency. Simply input and adjust assumptions about future rent increases, renewal rates, and turn time at your properties, and watch the system predict resulting revenue in real time. Available in the AppFolio Property Manager Plus and Max plans, updating your property budget only takes a few clicks.
User experience and functionality updates to AppFolio’s reporting experience make it easier to build the custom views your business needs, leaving you with more headspace for deeper data analysis, discussion, and decision-making. Available to all AppFolio Property Manager customers, these new capabilities include columns and basic grouping functions, sorting and multi-sorting, row filters, and usability enhancements.
Advanced reporting features in the Plus and Max plans include pivot tables and charts, allowing you to perform more data analysis right within AppFolio. If you don’t see this capability in your AppFolio database today, you will very soon.
AppFolio Smart Maintenance customers can now set and manage revenue-driving billing rules based on work orders — such as conditions for markups or strategic pricing — all in one spot. This automation enables in-house maintenance teams to improve profitability, save hours of manual work while meeting owners’ needs, and ensure consistency in your processes.
The new Smart Maintenance scheduling feature for in-house maintenance teams offers you greater visibility into the queue and workload through a simple timeline view. Dragging and dropping work orders onto the timeline schedules and assigns the work in a single step. Reduce the hassle of scheduling maintenance technicians with these integrated scheduling features that are designed to enhance efficiency and boost profitability for your operations.
Stay plugged into the latest from AppFolio with resources in our Innovations Hub.
As an AppFolio Property Manager customer, you can find out more about each one of these features by logging in and exploring our Help Center content.
Not yet an AppFolio customer and would like to learn more about our approach to property management technology? Request a custom demo tailored to your company’s business needs to see how these powerful tools can help your business grow.