Pricing & Business Update

A message to our clients from Taylor Hou, Founder & Chief Happiness Officer [August 1, 2022]

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For some background:

Our very first recurring Trust Bookkeeping client using AppFolio went live in July 2017 and since then we've brought to market additional products & services such as:

• Daily Audits
• Daily Bank Reconciliations
• Corporate Bookkeeping
• After Hours Call Center
• Maintenance Coordination
• On-Demand Consulting

When we introduced these new offerings, we didn't know how to price them so we went with whatever worked. This decision, while easy at the time, led us down a path that could be best described as a logistical nightmare while growing the business.

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We've also methodically invested in and improved our product & service offerings such as within Daily Bank Recs:

• Decreased our time to reconcile from 10 days to 5 business days after receiving statements
• Fill out and maintain Three Way Rec (TWR) forms regardless of if a state requires them or not
• Include Daily Audits (which we've continued to invest in and improve)
  

So now that we're 5 years in with over a thousand clients across AppFolio, Buildium, Propertyware, Rent Manager and Rentvine, we're making some long overdue updates.

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Moving to standardized pricing:

We've very rarely changed our clients' pricing so many of you have enjoyed discounted & grandfathered rates. We will be notifying all clients of pricing updates to go into effect before the end of the year (2022).

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We’re confident our pricing for the level of service, quality, expertise, and consistency we provide will be unmatched.

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Why now? "We're in a recession!"

At APM help, we find pride in creating an amazing environment both internally for our employees but also externally with our clients. Therefore, without getting into too much detail, another big reason we are making this change is for our staff.  We invest in our people and want to continue to do so; so y'all, our clients, can continue to receive the highest possible level of consistency and reliability of our products and services.

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Reminder of our mission:

I probably haven’t been vocal enough about this but I set our company mission back in 2017 to “clean up the industry and make it better”.

95% of property managers would not pass a trust account audit. That’s our anecdotal figure but we’d really like to get that to 95% WOULD pass a trust account audit. We’ve built the gold standard for the industry and even if we don’t make money on it, it’s ok.

We’ll be making the lives better for everyone involved in the rental economy by cleaning it up.

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Making property management "better" - our view of the future:

We’re just barely getting to the “make it better” portion of our mission but I’m happy to announce our client portal where we believe we can help property managers run their business better so they can focus on managing properties. We'll start inviting clients to their portal by October 2022 to start taking advantage of:

• Unified experience so you have less logins to remember (Google Auth & Single Sign On)
• Discovery of new products & services (ie: RentCheck for Inspections, Nomad for Lease Guarantees, Credhub for Credit Reporting)
• Pre-negotiated discounts from partner apps & services (ie: Gusto, Quickbooks Online, Ramp)