Rob Teel, SVP, Global SolutionsIn 1982, Anant Yardi, one of the early pioneers in real estate software technology, recognized the need for integrated accounting and property management software for the residential marketplace. At the time, with nearly 15 years of programming experience, Anant Yardi knew he had the background to design such a product and founded Yardi Systems, Inc. The company released its “Basic Property Management” software in 1984 and changed the way real estate business was carried out. Since then Yardi has become a global technology company with products and services to serve any size business, in any real estate market.
Yardi offers asset and property management solutions that allow real estate owners, managers, investors and other stakeholders to access information specific to their needs. With its comprehensive software suites, the company provides solutions for marketing, leasing, operations, procurement, energy management, investment management, market research and more. The time and resources saved by a fully integrated, web-based software platform allow companies to work more efficiently and profitably.
“Our early history was supporting the real estate back office, particularly around finance and operations which hold the power of budgeting and decision making,” remarks Rob Teel, SVP, Global Solutions at Yardi, “But today, our software supports both front and back office capabilities, allowing companies to leverage a broader range of services.” Most recently, the company expanded into providing energy solutions and market data solutions and services.
According to Teel, there is a lot of pressure on real estate investors from institutional backers to maintain a sustainable portfolio and to measure, monitor and report energy usage for their property. To that end, the Yardi Smart Energy Suite helps reduce properties’ energy consumption, keep tenants comfortable and simplify analysis and reporting with automated energy management solutions. Additionally, with Yardi Utility Expense Management, real estate firms can optimize energy consumption and streamline services to cut costs. “We believe the industry can reduce energy usage as a whole by 10-15 percent which represents a cost saving of $10-20 Bn in North America,” says Teel.
Our clients are our top priority as real estate is a relationship-oriented business
“Besides the sundry of data we have garnered over the years, we also have a large research team from Yardi Matrix, over 600 people, who collect and package real estate information to help real estate professionals make data-driven decisions for buying, selling and leasing properties in capital markets,” says Teel. In addition, the Yardi Orion Business Intelligence platform helps companies get metrics, improve business decisions and enhance portfolio performance by fully leveraging the information available in their Yardi Voyager system of record. Comprehensive portfolio- and property-level data assists decision-makers in identifying whether a client should be, or should not be, listing for the available space, and makes it easy to benchmark property performance from similar property competitors.
On the front office side, to allow clients to offer more convenient rent payment options and online work orders, Yardi developed an online resident and tenant portals to offer competitive services. Arcadia Property Management, a commercial property management firm, was an early adopter of the COMMERCIALCafé tenant portal. “Letting our tenants pay rent online by credit card or ACH set us apart by giving them another option for meeting their obligations in a challenging market,” said Gary Shaw, Arcadia’s President.
“Our clients are our top priority as real estate is a relationship-oriented business,” says Teel. Yardi serves clients ranging from small property managers to global real estate firms across all market segments. Larger clients include Greystar, Lincoln, Pinnacle, JLL, CBRE, Cushman and Wakefield, JP Morgan and many others.