You shouldn’t sweat the small stuff in property management, but you can’t forget about it either! And that’s where Yardi comes in handy. Read on to learn what this platform has to offer to decide whether or not it’s for you.
What Is Yardi?
Yardi is a property management system for commercial, retail, industrial, and residential property managers. They offer a variety of platforms to help you tailor just the right system to suit your needs.
Here’s what you need to know about Yardi, the products they offer, and whether or not it’s the property management software system that’s right for you.
Yardi Breeze vs Yardi Voyager
Yardi is an asset and property management system that’s browser-based and provides comprehensive and integrated accounting and management functions. They offer two versions of their product, Voyager and Breeze.
Unlike its competitors, Yardi offers Breeze as its simple version of the software. Geared toward smaller property management companies, this includes only features you need.
As a result, pricing is reasonable. For bigger portfolios, the Voyager upgrade adds functionality required for the portfolio. We’ll break down each one so you can see what both have to offer.
This platform was built to address the specific needs of owners of single-family homes, multifamily homes, commercial properties, and small to mid-sized property management companies. It’s mobile and very easy to use.
It offers live chat support, a user interface that’s simple to use and understand, and a help center available if you run into problems. Yardi Breeze has features that include:
- Rent collection
- Owner and tenant communications
- CAM recovery
You can see everything from a dashboard that’s, well, a breeze to use on your computer, tablet, or smartphone.
Yardi Breeze has simple pricing and monthly billing that makes it very easy to budget for. It costs $1 per unit per month with a minimum of $100 per month – but there are no onboarding fees.
Yardi Breeze Features and Benefits
Yardi Breeze has several features and benefits that can help make your property management life just a little bit easier, such as:
This is a simple and powerful property management solution that doesn’t require any complicated setup. You can begin managing your units, tenants, and properties in just a few minutes. Plus, the software provided tutorials in the application that show you the ins and outs of the software as you use it.
Yardi Breeze has a highly responsive team you can live chat with for help. In fact, their average time to respond in 19 seconds, so you won’t waste time hanging around for an answer.
Easy Leasing and Marketing
One of the greatest things about this platform is you don’t have to scramble to post your vacancies on different websites. They have integrated their platform with RENTCafe.com to allow you to post your available units to potential renters.Future residents can apply online and you can process them immediately, even conducting interviews via text on the platform. This saves time and energy!
Efficient Maintenance Tracking
Maintenance requests can be a time suck for tenants and for you. With Yardi Breeze, tenants can post maintenance requests via the platform’s portal. This allows you to track each request methodically and make sure they are completed in a timely manner.
Plus, you can attach and view any related documents to the request you need such as POs, invoices, photos, and videos of the progress or when the requests are completed.
Multiple Options for Payment
Your tenants can pay what they owe in a variety of ways with Yardi Breeze. It gives them the option to settle their accounts with you through ACH or using a credit card. It’s convenient for your tenants and allows you to swiftly balance your books.
The accounting tool on Yardi Breeze lets you do more than track credits and debits, it also allows you to monitor receivables and payables in one window. Plus, you can access general ledger functions to help you handle all your properties’ finances easily.
Breeze offers standard reports but also allows you to configure your own. You can use their tools to create property reports and drill-down financial statements too. This allows you to be more transparent with your tenants and unit owners as well.
The complete list of Yardi Breeze features includes:
- Photo and Video Capture
- Property Showcase
- Files Upload
- Progress Notes and Details
- Payables, Receivables, and General Ledger
- SMS Messaging
- Batch Receipts
- Tenant Applications and Screenings
- Invoice Emailing
- Financial Statements
- CAM Schedules
- Custom Expense Pools
- Automatic Percentage Rent Calculations
- ACH and Credit Card Payment Processes
- Automated Rent and Fee Posting
- Electronic Maintenance Requests
- Maintenance Request Attachments
Yardi Voyager is for those property management businesses that have a larger portfolio. This powerful platform can support multiple products for commercial and residential property management. It has the same basic features as Yardi Breeze but also has features such as:
- Business intelligence
- Energy management
- Lead tracking
Voyager cost is based on the size of your property, the number of properties you manage, and maintenance costs. Contact Yardi for more information on pricing.
Yardi Voyager Features and Benefits
Voyager provides very comprehensive tools for users when it comes to marketing, management, payments, and more. A few highlights of Voyager’s benefits include:
Task and Data Module
Voyager gives you the ability to centralize information and data as well as perform tasks from one centralized location. The database collects and organizes your property and financial management information all in one place. So, you can view all the information related to your tenants, leases, properties, accounting, financial performance, work orders, and transactions all in one place.
With this feature, you can get up-to-date and accurate information from anywhere at any time. This can help increase your productivity and concentrate on other areas of your business that can help to drive growth.
Efficient lease administration is a must and Yardi Voyager makes it easy. Commercial property owners find this feature especially helpful since you need to keep track of a variety of leases and lease terms.
Voyager organizes all the lease terms and tenant information in one place. You can drill-down into lease details and automatically track leases with this feature, instantly processing receivables along the way. To streamline lease management even more, Voyager has dashboards available that you can tailor to specific roles in your organization.
Automate Your Workflow
The centralization of your property and financial management information into a single database allows teams to manage processes and perform tasks more efficiently. Voyager also has the capability to automate workflows based on your business requirements and overall goals.
For example, users can set up new leases while seamlessly processing move-ins and move-outs, approve purchase orders, and perform financial tasks quickly and from the same place. Easy!
Notifications for Critical Dates, Tasks, and Deadlines
Voyager has a component that reminds users of all the important dates, tasks, and deadlines they have with notifications. These notifications show up on the dashboard after you enter specific deadlines. It also triggers an email reminder which connects you to the dashboard to perform the task.
The commercial and residential property management solutions found in Voyager help accounting teams and professionals in the real estate market feel empowered. It does this through an accounting system that allows generally accepted accounting principles to be applied.
It also allows teams to comply with international reporting standards while still providing them with the opportunity to configure a system with their own preferences, policies, and processes.
This accounting system also allows you to create multiple books, perform general ledger allocation, record financial transactions, define recurring entries, create account trees, and set up financial entities through intercompany or segmented accounting.
Increase Your Business Intelligence
You can gain insights into your properties and financial performance easily with the flexible and fast analytics engine offered by Yardi Voyager. Any metrics you need can be retrieved in real time, allowing you to dig deeper into source data and transactions as well as analyze financial data based on department, fund, GL book, period, or entity.
You can set your own key performance indicators too so you can define your own numbers and explore other direction you may want to take your business.
One thing every property management team needs is flexible document management software and that’s exactly what Voyager provides. You can store and process an array of documents and decide how you want to interact with and communicate with current and prospective tenants.
This document management system allows you to create custom documents, reports, correspondence, and forms. It also contains templates you can combine with any financial graph, document, report, or date you have.
Work from Anywhere
You can use mobile solutions and apps with Voyager to make it convenient to work from pretty much anywhere – on any device at any time. That means you can track leases, process applications, communicate with vendors, and provide services for tenants all from your tablet or smartphone when you’re at home in your pajamas.
The Yardi Maintenance Mobile app is designed for field technicians. It allows them to create, close, and update orders on their own mobile devices and it’s automatically updated in the Voyager cloud.
There’s also Yardi Inspection Mobile, which is an app that allows property inspectors to document issues or deficiencies at a property, record voice notes, collect signatures, and take pictures using their tablet or smartphone. This app can also be integrated with the Yardi Maintenance Mobile app to generate work orders based on the results.
Probably one of the best features of Yardi Voyager is that it has an extendible architecture. This essentially means that you can extend its core capabilities and features to fit your business by integrating it with other Yardi software products as you grow. The complete list of Yardi Voyager features include:
- Facility Management
- Smarter Navigation
- Compliance Simplification
- Real-Time Analytics
- Centralized Data
- Asset Management, Tracking, and Reporting
- Mobile Access
- Platform Extendibility
- Automated Workflow
- Lease Management
- Document Management
- Mobile Access and Solutions for Inspection and Maintenance
- Critical Notifications and Dates
Yardi’s two platforms, Breeze and Voyager, serve different portfolios but their purpose is the same – to make property management more profitable and efficient for owners. If you decide to start off with Breeze, it’s easy to upgrade to Voyager.
Yardi’s Other Products
There are a few other products you can add to your basic platform over time if you find you need it. These include:
This is a nationwide internet listing service for that helps renters find properties. It also allows tenants to pay rent online and submit requests for maintenance. It takes care of your renters from listing to move-out.
Senior Living Suite
This is a mobile-based platform is for CRM, health care, assisted living community operations, medication records, staff training, finance, and business analytics. If your property business incorporates senior living, then this is the software you definitely need.
This software automates the whole real estate investment management lifecycle. It provides a platform to deliver informed strategies for investment, performance measurement, transparency, and analytics.
What Do Users Think?
Many people who use Yardi’s software are very happy with it. It consistently ranks high in the property management software product category.
User Paul says, “I’ve been involved in real estate management for over 35 years and Yardi has been a frontrunner in the industry since its release. It’s highly competitive cost and features give other property management software a run for its money. I have recommended Yardi to many of my property management clients.”
Jennifer says, “This is the most diverse rental property software I’ve ever worked with. You can literally use it in everything from residential and commercial properties to hospice-type environments. Plus, many people who have experience in the rental industry already know the product, which makes training a breeze.”
Things to Consider Before Buying Yardi
While this software comes highly recommended, there are a couple of things you may want to be on the lookout for. First, some of the functions – while useful – can be difficult to set up. Luckily, all this requires is a call to customer support so they can walk you through it step by step.
Another thing to be aware of is that if you run a large real estate management company, Yardi can run a bit slow when many department or people are using it at the same time. End of the month close can be a challenge.
Is Yardi for You?
Yardi is the standard for cloud-based property management software. It can work for everyone, from small businesses to large, which is why we think you should definitely give it a deeper look.