Peter Lohmann explains why he's sticking with AppFolio despite the risk of future price increases. He credits high vendor engagement, on-site support, and early beta access, and argues that switching costs for property management software are dropping thanks to AI, so he's not locked in.
Appfolio is the most engaged in our success of any of those who I've worked with. You know, they sent 2 people to our office to do like a reimplementation where we spent 2 days just breaking down how we do things, giving advice. They're super available and accessible. And, you know, we beta tested a lot of stuff at, for Yardi when I was at Roscoe, like brand new products, had it 6 months, a year before anyone else. We never had this sort of relationship. They never felt so invested as the Appfolio team feels in our success. And that's been unique. And so that gets some like good faith from me. But in 5 years, you're right. They could like triple the price and I might have to say thank you. But I also think switching costs on PMS software is going down as AI gets better. And as you can do some things that can help with that. And I've done a bunch of software implementations that doesn't necessarily scare me. I don't want to do it, but I ultimately, if it was better for the business and better for the team to make a change, we'd make a change and we'd figure out how to execute it. I don't want to operate from the worry about what might happen. I try to be more focused on like, what's the best today? And then we'll deal with tomorrow as it arrives.
