Fintech & Ecommerce

AppFolio Launches AI-Powered Payment Options for Property Managers

AppFolio announced the addition of generative artificial intelligence capabilities and new payment methods to its cloud solutions designed to manage real estate business.

AppFolio Launches AI-Powered Payment Options for Property Managers

The new generative AI dialog interface, Realm-X, is designed for property managers and is part of the AppFolio Realm set of machine intelligence capabilities. The relevant information is contained in the company’s press release, which was published last Thursday, September 21.

Realm-X uses generative artificial intelligence technology to solve tasks such as optimizing rental workflows, maintenance, and accounting. In this case, automation of the solution in the real estate sector is provided and repetitive processes are eliminated. With the use of artificial intelligence, employees can focus on establishing relationships with residents and increasing the level of business efficiency.

In the list of abilities, Realm-X has the ability to answer any question that a real estate manager asks within the thematic framework of professional competence. For example, employees of the relevant profile can request the number of assigned work orders for which there has been no progress in the last five days.

Realm-X helps to perform routine tasks, including composing text messages to request status updates for work orders. It is also possible to train this artificial intelligence tool by real estate managers. In this case, it can equip Realm-X with the ability to update work order lists weekly and send text messages to suppliers requesting an update.

AppFolio is currently testing an artificial intelligence tool. Selected clients of the company take part in this process. Next year, the firm plans to expand the scale of availability of the artificial intelligence tool. Information about the relevant intention is contained in the brand’s press release.

AppFolio is also implementing a number of other features in order to improve the interaction of residents, owners, and suppliers. The company offers personalized payment options for rental services, digitization of payment transactions to simplify relevant financial operations, and enhanced access to property information and tasks. Also, as part of this initiative, the firm provides an integrated leasing CRM tool.

New rental payment options are offered as part of a partnership with the Best Egg financial platform. In this case, tenants are given the opportunity to divide payments into smaller amounts. Digitized financial operations allow vendors to make direct and instant transactions.

Shane Trigg, president, and CEO of AppFolio, stated in a press release that the company’s main goal is to become a single platform that is the base of customers’ business, which will provide them with opportunities to unlock their potential and create exceptional experiences for consumers and communities.

Industry research shows that in the United States, companies that work in the real estate sector understand that the introduction of fast payments allows you to establish strong partnerships between suppliers. Also, 90% of respondents stated plans to start making transactions in real-time during 2024.

As we have reported earlier, Deutsche Bank Tests AI Tools.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.