Appfolio

AppFolio provides property management solutions for a range of housing types, including multifamily, single family, commercial, diversified, student housing, and community associations. It targets mostly small and medium-sized property managers. Over the years, the company has added a variety of value added services to its platform like marketing services, tenant screening, AI-powered leasing assistants, insurance, utility management, data analytics, and more.

Its AppFolio Property Manager product charges a monthly fee of USD 1.4 per residential unit and USD 1.5 per commercial unit. AppFolio Property Manager requires a minimum monthly fee of USD 280, implying that prices will be cheaper for property managers that handle more than 100 units. The company also offers AppFolio Plus, with a higher monthly fee of USD 3 per unit for both residential and commercial properties. AppFolio Plus is designed for property managers with more than 1,000 units; it has a minimum portfolio requirement of 500 units.

Key customers and partnerships

In June 2022, Appfolio partnered with Knock to leverage Knock’s CRM and leasing management technology and workflows to provide Appfolio’s property managers, owners, operators, and leasing teams an integrated leasing process through Appfolio’s platform. The partnership was part of its strategy to launch AppFolio Stack, an integrated platform with other property management solution providers that helps property managers and owners complete a range of workflows.

Funding and financials

Appfolio reported a 31% YoY increase in total revenue to USD 620.4 million for FY2023, compared to a total revenue of USD 471.9 million recorded in FY2022. The company reported a net income of USD 2.7 million for FY2023, compared to a net loss of USD 68.1 million recorded a year ago.