Considering whether Appfolio is the right rental property management software for rental property owners and managers?
There are countless property management software options to choose from, but as property owners, it can be hard to figure out which one to go with and why.
What are the pros and cons of Appfolio’s property software? How much does it cost compared to its competitors? What features do they offer? And why would I choose them over another option?
We’ll dive deep into these questions and more in this comprehensive Appfolio property management software review.
So, whether you’ve just started shopping around or you’re looking for a better Appfolio alternative, read on.
If there’s a specific section you’re interested in, feel free to click the table of contents to jump to that section at any time.
What is Appfolio property management software?
Appfolio is one of many all-in-one property management software tools that allow you to manage your entire portfolio from one place (whether you have residential or commercial properties, they've got you covered).
With Appfolio, you can manage any kind of property, including:
- Condos and multi-family
- And more
As one of the more notable options in the space, Appfolio has made a name for itself with a robust feature set and intuitive UI.
However, it’s essential to know that there are pros and cons to every property management system. Appfolio is no exception, with their higher price tag being a deal-breaker for many as an example.
That’s especially important to think about when you consider what a significant impact property management software can have on your business.
Before investing, it’s vital to know what features are important to you and whether a particular tool has the features you’re looking for.
So, let’s dive into Appfolio’s feature list to get a better idea of that very thing now.
The point of good property management software is to provide a collection of tools that allow you to simplify and streamline your entire property management business.
- Rent payments and accounting tasks
- Maintenance management
- Tenant communication
- Applications and screenings
- And more
Appfolio offers many of these same features, allowing you to automate, or semi-automate, many tasks that once took manual labor.
We’ll talk more about the pros and cons of Appfolio later to help you get a better idea of whether it’s a fit for your needs.
However, for now, let’s review their most notable features.
Appfolio includes a suite of accounting features, including billing and invoicing, online rent payments, payment processing with multiple payment methods, and late fee calculation.
If you manage an HOA, condo, or multi-family community, you can make use of calendar, committee, and event management features.
Commercial property management
Commercial property managers can take advantage of features like commercial leases and lease management.
Communicate with tenants on maintenance, answer questions, collect rent payments, and more.
Generate useful reports for owners and even print checks from one central location.
Communicate with tenants on maintenance orders, generate orders, and assign vendors.
Now, before we review the pros and cons, let’s talk about pricing, which might be the biggest sticking point if you’re considering Appfolio.
As of September 01, 2022, Appfolio uses a per unit, per month pricing model, which they separate based on whether you’re managing residential, commercial, or community association properties.
Their residential Core plan is $1.40 per unit per month, though that comes with a minimum monthly fee of $280 attached.
That’s the big sticking point for many with Appfolio, as their pricing is substantially more for virtually (or exactly) the same feature set as other property management software that charge a fraction of that price.
Moving up, their premium Plus plan is $3 per unit per month with a $1,500 minimum monthly fee and adds additional features, including workflow management, performance insights, and revenue management.
Appfolio’s commercial and association plans use a similar pricing model, with the same $280 monthly minimum and anywhere from $0.80 to $1.50 per unit per month.
Does Appfolio offer a free trial?
According to Appfolio’s website, they offer a free trial. However, they don’t list information about their free trial program anywhere online, so you’ll have to contact them directly to see if they still offer a free trial and what the terms are.
Appfolio pricing: An overview
Spoiler alert: Appfolio’s pricing is easily its biggest con.
At several times more expensive than comparable property management software tools, Appfolio’s minimum monthly fee makes it a steep investment for portfolios under 250 units as property software is concerned.
Appfolio Review: Pros and Cons
Now that we’ve taken a deeper dive into Appfolio’s feature set and pricing model, let’s bring everything together and discuss some pros and cons.
These are pulled partly from user reviews, so you can be assured they’ll give you a pretty good idea of what you’re potentially getting into.
3 competitors to consider
Now that we’ve explored some pros and cons, let’s take a look at a few amazing competitors you should consider.
Whether you’re looking for a competitive feature set that’s also a ton cheaper, excellent customer service is important to you, or you need certain key integrations, these are worth looking into.
Who would we be to talk up the virtues of a fair price point, good customer service, and vital integrations without setting an example?
With DoorLoop, you get all the core best property management services you expect from great, all-in-one property management tools as well as so much more.
- Collect rent online and tenant portal: Make it easier than ever for your tenants to pay their rent and other monthly fees with our full-service CRM and tenant portal. Communicate with tenants, collect rent payments by giving your tenants a convenient portal that they can access via their smartphone, and more.
- Full suite of accounting tools: Is the fact the QuickBooks isn’t designed for property management holding you back? We’ve got you covered. And if you decide you still need it? We’ve got a convenient QuickBooks integration, so we can take the reigns of your accounting completely or play nice together.
- Streamlined communications: Communicate with tenants from within the app and via your smartphone or desktop, manage maintenance requests in minutes, work with vendors, and more, all from within DoorLoop.
- Dedicated owner portal: Need to print checks? How about timely reports that give your users a simple and easy way to see how things are going? Take care of your owners and partners in minutes with a dedicated owner portal.
- And much more.
All that sounds amazing, but perhaps the most exciting part of all is that it’s not going to cost you an arm and a leg to get started.
In contrast to the hefty start-up fee and monthly minimums of Appfolio, you can get started with DoorLoop for just $49 per month up to your first 20 properties.
Schedule a free demo today, and experience what DoorLoop is all about!
Another strong alternative to Appfolio, Propertyware has a great collection of comparable accounting features, including helpful automatic payment reminders.
If accounting is really what you’re looking for, Propertyware is a good consideration.
Similar to Appfolio, however, Propertyware’s price tag below 250 units is high.
- Robust accounting features such as payment reminders and good reporting tools
- Tenant communications tools
- Maintenance management
- Owner portal
Propertyware uses the same per unit per month model with a monthly minimum, like Appfolio. However, their monthly minimum is just a bit less than Appfolio’s at $250 per month.
Their basic plan comes in at $1 per unit per month. They also have an onboarding fee equal to x2, whatever your monthly payment is. For example, if you’re paying the $250 monthly minimum, your onboarding fee will come in at $500.
Hemlane is the final option on our list, but it’s a worthy contender. This software makes the list for its somewhat unique features, including an agent match tool that matches you with local agents to help fill your vacant units more efficiently.
Admittedly, these are features that may not be necessary for many property managers, in which case the high price doesn’t justify the extra bells and whistles.
However, for some, Hemlane’s unique features might be precisely what they look for in a property management software.
- Unique placement tools such as agent match
- Online rent payments
- Maintenance management
- Tenant screening
Hemlane has a somewhat different pricing model, with a base monthly payment along with a per unit per month charge tacked on top.
Their starter Basic plan has a $30 monthly payment along with $2 per unit per month after the first unit. Their next level Complete plan moves up to $60 per month along with a significantly higher $32 per unit per month after the first.
Hemline offers a 30-day free trial, so you can get started for free to try it out.
If you’re looking for a competitive property management tool with all the features you need at a reasonable price, you can try DoorLoop 50% off your first two months.
With DoorLoop, you get:
- A full accounting suite
- Easy tenant communication tools
- Automatic rent payments and tenant portal
- Complete maintenance order management system
- Owner portal with check printing and convenient reports
- Intuitive, lightning-fast UI that’s purpose-built to be super easy to use
- World-class support with a real customer service team dedicated to serving you
- And much more
So, if you’re looking to take your portfolio or property management business to the next level, let DoorLoop help you streamline and simplify your entire process from beginning to end, and not only save you time but afford you some peace, something that most property management software products in the market won't offer.
Jump on and give it a try to see what DoorLoop can do for your business, schedule a free demo here!