SOURCE: AppFolio

AppFolio

August 22, 2013 11:57 ET

AppFolio Property Manager™ Expands to Include Electronic Cash Payments

New Payment Method Helps Property Management Companies Reduce Theft and Operational Costs

SANTA BARBARA, CA--(Marketwired - Aug 22, 2013) - AppFolio Property Manager, a leading provider of Web-based software for property managers, is expanding its payments platform. By enabling AppFolio customers to accept electronic cash rent payments made by residents at 7-Eleven or ACE Cash Express locations, the new feature eliminates the risk of fraud and theft for property managers, streamlines rent collection, and reduces operational costs.

The new payment option is enabled by a partnership with PayNearMe, an electronic cash transaction network that allows consumers to pay their bills with cash at nearly 10,000 locations. The new feature is built right into the AppFolio Property Manager software, along with ACH for rent payments and credit card payments for online application fees, and is a free service available to all AppFolio customers.

Jason Randall, vice president of product management with AppFolio, noted that the new payment option offers residents a secure and convenient alternative to paying rent with cash or money orders at a property management office.

"Almost a quarter of American families don't have a credit or debit card, and have to pay their rent with cash or money orders each month," stated Randall. "Electronic cash payments provides a safe alternative to leaving payments in an after-hours dropbox for these renters. It's also incredibly convenient for the property management company, and helps eliminate theft."

In addition to reducing paperwork, the electronic cash payments feature helps both property managers and residents save time. Managers can avoid the manual data entry needed to process checks and money orders, while residents no longer need to visit their property management offices. The new feature is available now and is included as part of AppFolio Property Manager's intuitive user interface. The feature offers the same ease of use and seamless integration as the ACH (for online rent payments) feature. AppFolio Property Manager is the only provider to offer ACH online rent payments at no cost to the resident or property manager. Because it is free and easy to use, AppFolio customers see 35 percent of residents paying online, which is twice the industry average.

"We have just implemented AppFolio's new electronic cash payment option and our tenants started using it the day we sent out the information letter," stated Lori Phelan of Smooth Sailing Realty & Property Management, an AppFolio customer. "We've gotten amazing feedback on how easy and convenient it is. The residents really appreciate that they don't have to drive to our office."

About AppFolio Property Manager
Headquartered in Santa Barbara, AppFolio Property Manager is a comprehensive, Web-based solution designed expressly for the needs of residential property managers. Tailored to solve the specific challenges of the property management industry, AppFolio Property Manager provides Web-based features appealing to modern renters while driving higher productivity and business ROI. For more information, please visit AppFolio.com.

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