In 1984, Anant Yardi created “Basic Property Management” for the Apple II computer and since then, Yardi has grown dramatically to become the leading provider of software solutions for the real estate industry. Aditya Shah, director of Yardi’s Middle East operations talks about how it also helps commercial real estate developers to reduce expenses and increase asset value.
What is Yardi doing to focus on reducing expenses and increasing asset value in commercial properties? How can Yardi help with replace vs repair?
Yardi Facility Manager helps to keep the properties operating in peak condition by automating facility maintenance scheduling. Easily track technicians, assign work orders and ensure prompt attention to maintenance requests. This solution helps property owners keep their properties in optimal condition with planned and preventative maintenance oversight that includes code compliance checks, warranty maintenance and regular inspections. This in turn helps with fewer equipment breakdowns and helps save money with automated planned preventative maintenance scheduling. Yardi Facility Manager helps property owners to increase the value of their assets by streamlining facilities management and gaining more insight into the health of their properties. Further improvement and cost reduction is achieved by streamlining service requests, intuitive asset and equipment maintenance, enhanced resource planning and improved communication and collaboration.
Can you talk about your tenant-friendly operations: making renewals, rent reductions, tenant-friendly payment terms – anything special for commercial tenants?
The global best practice is to charge monthly rentals. This will help tenants with their cash flow and in turn reduce cheque bounce. For most tenants, the three or four-cheque rental payment creates a pressure on cash flow. A monthly rental plan can improve tenant cash flow as it makes it easier for the tenant to budget every month. With a monthly rental plan, however, accounting will now have to process 12 cheques, instead of four. Yardi can step in here to help with its core flagship product – Voyager, built on global best practices. Yardi Payment Processing, which is part of the Voyager suite, can help with direct debits, improving the operations flow. Monthly direct debits are quite common in western economies. Being a global proptech company, Yardi is capable of handling post-dated cheques as well as supporting monthly direct debit payments.
How can you help landlords to increase leads by better marketing their property? How does Deal Manager come into play here?
Yardi Deal Manager helps close more deals, faster, with the most dynamic leasing solution specifically developed for the real estate industry. Yardi Deal Manager provides powerful deal management capabilities with an easy-to-use, mobile solution. Access up-to-date unit availability information, floor plans and interactive stacking plans that sync lease-level data directly with Yardi Voyager. It enables to centralize communication, enter deal terms, track proposals and calculate and store NER at the deal level.
Yardi Deal Manager helps shorten the deal cycle. It Integrates all aspects of the leasing process in a single connected solution that includes customized deal management, automated workflows and approvals. It helps the leasing team to gain complete deal pipeline visibility with the most advanced solution on the market. And quickly identify tenant information and granular lease information such as rent steps, options and encumbrances. Yardi deal manager enables the leasing team to work more efficiently and helps reduce errors by eliminating duplicate data entry and lease abstraction. And to top it, the solution is mobile enabled. The Deal Manager mobile app helps keep contacts and leasing pipeline up to date. The team can update deals, leads and pipeline data on the go. And these data automatically syncs with Voyager to gives the leasing team the latest information to make confident decisions, secure approvals and receive notifications in the field. Yardi Deal manager is available for both Apple and Android mobile operating systems.
In mixed-use buildings, with offices, retail and residential – how does Yardi benefit property managers and landlords?
In 1984, Anant Yardi created “Basic Property Management” for the Apple II computer and sold it to our first customer, Sabaco Realtors. Since then, Yardi has grown dramatically to become the leading provider of software solutions for the real estate industry. Our solutions increase efficiency and reduce costs for a global client base of public, private and nonprofit organizations. Markets we serve include commercial, multifamily, single family housing, self-storage, student housing, senior housing, co-working, affordable housing, PHA, military housing, airports and parks and recreation. Our complete real estate management solutions include software for property management, accounting, marketing and leasing, market intelligence, energy management, end-to-end procurement, business intelligence, learning management and much more. We have multiple options for all portfolio types and sizes, from large multinational enterprises to small and midsize holdings.
Can you talk about the benefits of Yardi’s ORION Business Intelligence?
Yardi’s reporting dashboards help gain deeper insight into the owner’s portfolio with actionable business intelligence. Designed specifically for a property owner, or a CEO, COO, Asset Manager, Yardi ORION Business Intelligence delivers in-depth analytical insights into their operations and competitive environment. It helps drive revenue across the asset classes by connecting revenue management, marketing, expense and revenue budgeting across their business — and benefit from recommendations that get even smarter over time to drive higher revenue. One can immediately benefit from a solution that takes dramatically less time and cost to implement than other business intelligence systems. Yardi Orion Business Intelligence is a unique, mobile-enabled platform with more than 200 built-in key performance indicators and powerful, flexible reports and dashboards.
How does Yardi’s Forecast Manager help?
Property owners can use Forecast Manager to create simpler, faster and more accurate budgeting in a seamless rolling forecast. Budgeting becomes more accurate and less stressful with a single platform for leasing, asset management and finance collaboration. Use of the Forecast Manager helps in up-to-date leasing assumptions in revenue forecasts and replace risky rent roll spreadsheets with a seamless rolling forecast. Landlords can easily manage unit-by-unit market rents while setting broader leasing budgets for an entire set of units, properties, regions or asset types. Yardi Forecast Manager fully integrates with Yardi Voyager, Yardi Advanced Budgeting and Forecasting, Yardi Deal Manager, Yardi Construction Manager and more.