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Streamlining Property Management with AppFolio: A Case Study on Wright Equities
Applicable Industries
- Buildings
- Construction & Infrastructure
Applicable Functions
- Facility Management
- Product Research & Development
Use Cases
- Inventory Management
- Personnel Tracking & Monitoring
Services
- Training
The Challenge
Wright Equities, a property management company based in Fresno, California, was facing several challenges in managing their growing portfolio of multifamily residential properties. Established in 2013, the company had been using Quickbooks for their property management needs. However, as they expanded their portfolio and ventured into construction and development, they found it increasingly difficult to manage their operations efficiently. They were dealing with issues such as double entry and manual reporting, which were time-consuming and prone to errors. Additionally, they were struggling to stay competitive in the rapidly changing rental market. They needed a solution that would provide real-time access to data, streamline their processes, reduce overheads, and enable them to make informed decisions about pricing and market trends.
About The Customer
Wright Equities is a property management company based in Fresno, California. They specialize in managing multifamily residential properties across California's Central Valley. Since their establishment in 2013, they have continued to grow and diversify their portfolio, with a focus on mid-sized multifamily buildings. They have also expanded into construction and development. Wright Equities is committed to staying ahead of the competition and leveraging technology to streamline their operations and provide better service to their residents. They value efficiency, transparency, and innovation, and are always looking for ways to improve their processes and stay on the cutting edge of the property management industry.
The Solution
Wright Equities turned to AppFolio Property Manager PLUS, a comprehensive property management software solution. AppFolio provided them with a centralized platform where they could access all their data and information in real-time, whether they were in the office or in the field. This transparency and accessibility enabled them to have a better view of how each property was performing. The software also automated many of their processes, reducing the need for manual entry and reporting, and allowing them to operate with fewer staff. AppFolio's Revenue Management tool was particularly beneficial, providing them with algorithms that helped them set competitive prices for their units. Additionally, the Online Payments feature streamlined their rent collection process, reducing errors and saving time for both their staff and their residents. AppFolio also provided dedicated training and support, helping Wright Equities to adopt new features and get the most out of the software.
Operational Impact
Quantitative Benefit
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