AppFolio, Inc. (NASDAQ:APPF), a leading provider of cloud-based business software solutions in the property management and legal markets, today announced the expansion of its feature set built within AppFolio Property Manager, its software solution for property management professionals.
The new Common Area Maintenance (CAM) feature further enhances the ability of commercial property managers to effectively manage their properties using AppFolio Property Manager. This innovative CAM feature takes a fresh approach as compared to how CAM has been traditionally managed, with user-friendly and intuitive functionality designed for the modern property management professional.
“We looked at how we could continue to enhance our core solution for commercial property managers, and we observed that many property managers still use inefficient, manual processes–often paired with property management software–for expense tracking and reconciliation,”
said Nat Kunes, Vice President of Product at AppFolio, Inc. “As part of our ongoing commitment to our customers, we always strive to create simple, elegant product enhancements that address the complex and evolving needs of their businesses. Our customers tell us we’ve hit the mark with our new CAM feature.”
AppFolio is recognized for its deep understanding of customer needs and innovative products built for residential and commercial property managers nationwide. With this new CAM functionality, property managers benefit from an easy-to-use feature set that is built seamlessly into AppFolio Property Manager and offers the following capabilities and
— Easily allocate property expenses to tenants based upon lease terms;
estimate property and tenant expenses for the upcoming year
— Track and reconcile CAM expenses and income for commercial properties
whenever necessary – avoiding double entry; easily access all CAM expense
and income transactions in one place
— Track progress throughout the year on both a property and tenant level;
track variances between estimated and actual expenses throughout the year
“I’ve used other solutions in the past with complex CAM functionality, and I always ended up back to using my spreadsheets to reconcile CAM expenses when and how I needed to do it,” notes Ned Skanchy, AppFolio Property Manager customer and owner of Urban Hive Properties.
“AppFolio’s CAM feature is so easy and intuitive it allows me to track and reconcile CAM expenses and income for my properties whenever necessary from right within the software, which saves me significant time and allows me to focus on growing my business.”