AppFolio Launches New AI Leasing Assistant and Utility Management Offerings

SANTA BARBARA, Calif., June 27, 2019 — AppFolio, Inc. (NASDAQ: APPF), a leading provider of industry-specific, cloud-based business software solutions, services and data analytics to the real estate and legal markets, today announced the launch of two new Value+ services for customers using AppFolio Property Manager (APM) and AppFolio Property Manager PLUS (APM PLUS). These services include an Artificial Intelligence (AI) Leasing Assistant, and Utility Management, a complete solution for utility invoice processing and analytics.

Both offerings are built for large portfolio property managers and owners and strengthen APM and APM PLUS system of intelligence capabilities by increasing our customers' overall efficiency, automating repetitive tasks, and creating a more streamlined experience for their prospects and tenants at scale.

Lisa, AppFolio's AI Leasing Assistant, builds upon the recent acquisition of Dynasty Marketplace, Inc. (Dynasty), a leading provider of advanced conversational AI solutions for the real estate market. Lisa is designed to address key challenges faced by property management companies associated with a high volume of rental inquiries that make it practically impossible to follow up on every lead in a timely fashion, which may result in missed revenue, poor customer experience and longer vacancy times.

AppFolio's AI Leasing Assistant works 24/7 as part of the leasing team to provide thoughtful, personable responses via text messages and email to prospective renters in real time and leverages integrated reporting to track leasing performance with accurate data to drive increased occupancy rates and operational efficiency. Property managers benefit from robust lead to lease data and insights, ultimately enhancing, optimizing and automating the leasing flow.

"We are more profitable with AppFolio's AI Leasing Assistant and have seen our teams performance increase dramatically with no lag time in response or missed leads," notes APM customer Kayla Roeder, COO of Cambridge Management Group. "With Lisa, we're booking more showings and we're not getting bogged down with repetitive questions, lead tracking, and follow up. Our team is able to focus on higher level interactions."

Additionally, building on the 2018 acquisition of WeGoWise, AppFolio launched Utility Management, a Value+ service designed to increase efficiency by automating utility bill processing and resident billing, a critical function for large property managers and owners. This service empowers APM and APM PLUS customers to better manage operating and capital expenditures relating to utilities by eliminating late fees with on-time billing and replacing the significant burden of a manual invoicing process with one that minimizes errors and maximizes NOI.

AppFolio's new offerings reflect our ongoing commitment to innovation and continuing to deliver technology solutions and services to solve the top challenges facing our customers.

About AppFolio, Inc.
AppFolio offers industry-specific, cloud-based business software solutions, services and data analytics to the real estate and legal markets. Today our products include real estate software (AppFolio Property Manager, AppFolio Property Manager PLUS, and AppFolio Investment Management ) and legal practice management software (MyCase). AppFolio was founded in 2006 and is headquartered in Santa Barbara, CA.