If you have several properties, it may get challenging for you to handle them without a dedicated tool.
You’ll get exhausted and your business will lag if you don’t have the right software by your side.
Fortunately, AppFolio property manager is a great tool to help you manage your portfolio in one platform.
However, most of you might be wondering – how much does Appfolio cost?
Well, this is what we’re going to explain in this blog.
So, stay tuned till the end to know whether investing in AppFolio is even worth it.
Key Takeaways
- AppFolio offers clear pricing for different tiers, catering to property portfolios of various sizes.
- AppFolio’s three main tiers (Core, Plus, Max) range from $1.49 to $5 per unit per month.
- Each tier includes different features, from basic property management to advanced leasing metrics and custom fields.
- AppFolio allows for customization and scalability, making it suitable for growing property management businesses.
- Best suited for portfolios with at least 200 units due to the pricing structure.
Why Need to Understand the Cost of Property Management Software?
So, let’s begin by understanding why we need to consider the cost of property management software before selecting one.
- Budget Planning and Allocation: Knowing the costs associated with property management software helps businesses to budget accurately and allocate resources. It ensures that your investment aligns with your financial plans.
- Cost-Benefit Analysis: Understanding the cost allows property managers to conduct a thorough analysis of cost to benefit. You need to compare the price against the features and benefits provided by the software.
- Financial Sustainability: Comparing the costs ensures that software is financially sustainable to avoid financial strains in the future.
- Feature Utilization: By understanding the cost structure, property managers can better assess which features are essential and worth paying for. So, you’ll not waste money unnecessarily.
- Scalability: Knowing the costs associated with scaling the software usage helps in planning for future growth. It confirms whether the software can grow with the business without prohibitive cost increases.
AppFolio is one of the best property management software of 2024 and for good reasons. It offers competitive pricing with transparent plans that cater to various sizes of property management businesses. It includes several features such as accounting, maintenance management, and tenant communication tools, proving to be an efficient solution for property managers.
Key Features and Benefits of AppFolio
AppFolio is a platform designed to help real estate companies efficiently manage their property portfolios. It offers two main products: Property Manager and Investment Manager. The former caters to portfolios that include:
- Single-family homes
- Multi-family units
- Affordable housing
- Student housing
- Community associations
- Commercial properties
On the contrary, the investment manager serves as an investor portal for those with higher-end portfolios. And the AppFolio pricing for both of them will differ a lot. By streamlining workflows, AppFolio enables realtors to concentrate on nurturing client relationships, which are vital for success in the real estate business.
The six primary AppFolio features are:
Communication & Services
- Engage with customers through app-based channels like email, texts, and in-app messaging.
- Centralize all communications into a single repository to provide a unified source of truth.
- Offer dedicated portals for owners, vendors, and residents for customer support.
- Utilize templates for emails and texts, document management, and surveys.
Accounting & Reporting
- Access essential business data effortlessly.
- Provide visibility for making quicker, more informed decisions with real-time reporting.
- Save time by reducing human error through automated processes.
- Features include database APIs, online payments, common area maintenance (CAM) tracking and reconciliation, and corporate accounting.
Maintenance & Efficiency
- Maintain property values while ensuring resident satisfaction
- Approve payments anytime, anywhere with smart bill entry.
- Provide residents with better visibility on maintenance workflows through online maintenance requests, work order management, and mobile inspections.
Staffing & Training
- Save associates’ time with training services available on the platform.
- Access to its comprehensive training resources via the mobile app.
- Customize workflows to individual needs so that nothing is overlooked.
Management & Growth
- Use improved insights for better decisions.
- Automate tasks to expand your property portfolio.
- Build a sustainable business with metrics dashboards, performance insights, and audit logs.
Marketing & Leasing
- Develop your pipeline with modern marketing tools such as an AI leasing assistant, dedicated leasing CRM, and virtual showings capabilities.
- Accelerate growth while filling vacancies faster with an integrated lease-to-lease process.
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How Much Does AppFolio Cost?
Of course, sophisticated software like AppFolio costs money to get so many valuable features in one platform. It doesn’t come for free. Like most well-known tools in the market, you must pay a specific AppFolio pricing to enjoy the benefits of its amazing features. Usually, $250 per month is what AppFolio charges, however, there are many plans available for property managers and investment managers.
AppFolio Pricing Plans for Property Managers
AppFolio provides three subscription levels for its Property Manager platform: Core, Plus, and Max. Each tier offers varying levels of the platform’s capabilities across the six main categories, tailored to the subscription level chosen. The details of these tiers are outlined below.
AppFolio Pricing — Core
Price: $1.49 per unit, per month (pupm)
Minimum Monthly Spend: $298 (equivalent to 200 units at the per-unit price)
The Core subscription is the entry-level package, designed for clients managing at least 50 units. It includes key features like:
- Property accounting and reporting
- End-to-end marketing and leasing
- Work order management
- Inspections and unit turns
- Purchase orders and inventory tracking
- Access to portals, mobile apps, and communication channels
- Standard customer support
AppFolio Pricing — Plus
Price: $3.20 pupm
Minimum Monthly Spend: $960 (equivalent to 300 units at the per-unit price)
The Plus subscription includes all features available in the Core package, plus
- Advanced leasing metrics
- Corporate accounting
- Premium software integrations
- Enhanced account support
AppFolio Pricing — Max
Price: $5 pupm
Minimum Monthly Spend: $7,500 (equivalent to 1,500 units at the per-unit price)
The Max subscription is best for larger realtors and includes:
- Leasing CRM
- Leasing signals
- Custom fields
- Database APIs
- A dedicated account manager
AppFolio Pricing Plans for Investment Managers
AppFolio’s Investment Manager platform has two tiers:
Core: Starting at $650 per month
Premier: Custom
Some of the robust features included in both tiers are:
- Investor CRM
- Investor Portal
- Fundraising Workflows
- Investment Financials
- Bank-Grade Security
- Asset & Pipeline Tracking
- Dedicated Customer Care Rep
AppFolio Fees for Tenants
Many businesses often ask – what does AppFolio charge for tenants? The software offers various services that may incur fees for tenants. These fees are typically set by the property management companies that use the platform so the exact amounts can vary. Here are some AppFolio fees for tenants that they might encounter when using the platform:
- Online Payment Processing Fees: This category typically includes eCheck (ACH) and credit/debit card payments.
- Application Fees: Tenants may be charged a non-refundable application fee when applying for a rental property. This fee depends on the property management company’s policies.
- Late Fees: If a tenant pays rent late, they may be subject to late fees as specified in their lease agreement.
- Convenience Fees: Some property management companies might charge a convenience fee for using certain online services, such as submitting maintenance requests.
The AppFolio Cost Explained
While the AppFolio cost might seem too much initially, its features save significant time and money in the long run. Once you log in to AppFolio, the ease of use the software provides will justify the expense, you’ll see. By simplifying the management of rental properties, you may not invest money in human resources, further saving your expenses.
It’s important to note that the base price of AppFolio isn’t always fixed at $250 per month. Various factors can influence the cost, with some users spending up to $1,500 or more per month. The AppFolio cost depends largely on the type and size of the portfolio you want to manage. Smaller rental properties typically incur lower costs, while larger or more complex portfolios may lead to higher fees.
If how much is AppFolio for different categories is what you’re asking, then read the below explanations:
- Community Associations: The cost of managing community associations with AppFolio may vary. It depends upon the number of units and the complexity of management tasks. Larger associations with more amenities and resident services may lead to higher fees due to the need for extensive features.
- Student Housing: Managing student housing requires communication tools to handle the unique needs of students and their guardians. As a result, the cost may be higher to cover features such as leasing processes and maintenance management.
- Residential: The AppFolio cost for residential properties is influenced by the variety of services provided. Single-family homes may incur lower costs compared to multi-family units or large apartment complexes. The need for accounting, tenant communication, and maintenance management also impacts the pricing.
- Commercial: This segment requires more comprehensive management tools for managing various business properties. For instance, advanced financial reporting, lease tracking, and maintenance management for diverse commercial spaces. These factors can lead to higher costs compared to residential properties due to the scale of managing commercial properties.
Customization Options With AppFolio Pricing
AppFolio offers various customization possibilities depending on the requirements of each business. The personalization option is available to cater to the diverse needs of property management companies. These options vary depending on the subscription tier (Core, Plus, Max) and can significantly impact pricing. Some key areas where AppFolio customization is available:
- Basic to advanced features
- Add-on modules
- Per unit pricing depending on portfolio size
- Integration with other systems
- Custom portals and communication tools
Selecting the Right AppFolio Pricing Plan for Your Portfolio
When you decide on an AppFolio pricing plan, you need to consider various factors. The size of your property portfolio is one of the essential parameters:
- Small Portfolios: For property managers with smaller portfolios, the Core Plan is ideal. Priced at $1.49 per unit per month with a minimum monthly spend of $298, it provides essential features. This plan is suitable for those managing at least 50 units.
- Medium Portfolios: If you manage a medium-sized portfolio, the Plus Plan is a better fit. At $3.20 per unit per month with a minimum monthly spend of $960, it includes all Core features plus advanced ones. This plan is optimal for portfolios with around 300 units.
- Large Portfolios: The Max Plan offers the most comprehensive features and can benefit property managers with larger portfolios. Priced at $5 per unit per month with a minimum monthly spend of $7,500, it includes a dedicated account manager, custom reporting tools, leasing CRM, and more. This plan is designed for managing at least 1,500 units.
Are you confused about which AppFolio plan will suit your business?
Don’t worry, talk to our experts to make the best decision.
Does AppFolio Property Manager Offer a Free Plan?
AppFolio Property Manager does not offer a free plan. All their subscription tiers—Core, Plus, and Max—come with monthly fees based on the number of units managed. While there is no free plan, each tier is designed to offer comprehensive features tailored to different portfolio sizes and management needs.
AppFolio Pricing: Pros and Cons
It’s undeniable there will be pros and cons of AppFolio pricing plans, after all, it’s software. So, let’s discuss them one by one:
AppFolio Pros:
- Scalable pricing plans
- Feature-rich packages
- Transparent pricing structure
- Cloud-based platform
- Mobile accessibility
- Regular updates
- Dedicated support
AppFolio Cons:
- Additional fees for certain features in some plans
- Learning curve during onboarding
- Limited customization options
- Vendor lock-in potential
Parameters to Consider Before Choosing the Best AppFolio Pricing for Your Organization
To get the ideal Appfolio pricing plan, you need to consider the following key factors:
- Size of your Portfolio: AppFolios pricing may vary based on the size of your portfolio. Therefore, determine the scale of your operation to select a pricing plan that aligns with your needs.
- Required Features: Different pricing tiers offer varying levels of features and functionality. Assess your organization’s requirements to choose the plan that fits your needs best.
- Customization Needs: If your organization requires customization or additional integrations with third-party software, check whether they are included in the standard pricing or require add-ons.
- User Licenses: Consider the number of users who will need access to the platform. Some pricing plans may limit the number of users or charge extra for additional ones beyond a certain threshold.
- Scalability: Identify whether the chosen pricing plan can accommodate future business expansion without significant additional costs.
- User Reviews: Gather feedback from current AppFolio users within your industry or network to understand their experiences with the platform. It will help you understand whether they feel the pricing is justified based on the value provided.
Comparing AppFolio Pricing With Buildium
Buildium is another premier property management software similar to AppFolio. It operates in exactly the same manner as the AppFolio property manager. However, it is tailored for smaller portfolios, including individual landlords. The three of Buildium’s pricing plan include:
- Essential: Starting at $55 per month
- Growth: Starting at $174 per month
- Premium: Starting at $375 per month
Furthermore, Buildium also provides a 14-day trial for all subscription tiers, giving it a competitive advantage over AppFolio
Final Verdict: Is Appfolio Worth the Investment?
So, how much does Appfolio cost, you ask?
To recap, AppFolio pricing for entry-level portfolios is $250 per month, however, it may rise to $1500. The cost depends on the version of the software you subscribe to and how large your portfolio is. No matter which plan you choose, AppFolio makes it easy for you to keep your rental property management tool business running efficiently.
Although the platform is available to realtors with a minimum of 50 units, we’d recommend opting for another platform if your portfolio is less than 200 units. The reason for this is that AppFolio pricing offers the best value once realtors have reached this 200-unit threshold. Moreover, you can refer to this guide whenever you feel stuck.
Furthermore, contact us to leverage the power of AppFolio for managing your property. Our AppFolio experts have years of experience in this field and we’ll provide you with proper guidance.
