Commercial

Yardi Commercial acts as a centralized location and source of truth for your commercial real estate data as it can give you an up-to-date snapshot of the performance of commercial properties in your portfolio and can be leveraged to produce insights needed grow it. Use real-time analytics to produce up-to-date reports and financial metrics. Handle all components of your real estate business including invoicing, payables, budgeting, and tenant management on one platform. Yardi Commercial includes several country-specific features and is compliant with GAAP and IFRS accounting rules.

The Yardi Commercial module setup is the first step of a successful implementation of this module.

• Consider working with a consultant who can evaluate and make recommendations on Yardi Commercial configuration and setup in the system; ensure accounting entities are entered correctly (Property, Building, Floor, Unit)
• One-to-many relationship – Customers are setup in the system and can have multiple leases and can be set up as a parent with subsidiaries; you also have the option to create leases without customers
  • Consider if you’ll be billing on the lease or customer level when
    creating entities
• Setup of lease options directly in the system including but not limited to expansion, renewal, termination, and right of first refusal (ROFR); enter penalties, length of option and other option characteristics
  • Yardi automatically creates a lease amendment based on the type of
    option you’ve exercised
  • All automatically created amendments must be manually activated in
    the system – once activated, then commercial billing can be run; consider
    setting up a workflow in the system that controls who has access to perform
    each task

Yardi Commercial specific functionality includes the below, and much more:

• Yardi Commercial has specialized setup options for retail properties, construction, office and industrial, and storage facilities
• Rent increases can be processed using Consumer Price Index data, entered as a chart into the system
• Lease-related costs or inducements can be attached to leases and depreciated/amortized over time
• Straight-lining rents can be done in the system. You’ll need to perform system-level setup for straight-lining: set up accounts for straight-lining and designate charge codes that are eligible for it. Before posting, you have the option to calculate and review adjustments and adjust as needed
  • You can also manually adjust dates for straightlining, if a property is acquired mid-lease, for example
• Lessee accounting – designate classification type for each lease, then set up lessee accounting parameters
• Control late fees and customize grace period and percentage–these can be set up at the property or lease level
• Integrating COMMERCIALcafe allows tenants to make payments and view important lease information from an online portal
• Report creation and customization for internal and external stakeholders

• Yardi Commercial is a business solution that provides the user with a set of lease-management and accounting transactions that are specific to commercial properties
• Like Residential, Yardi Commercial gives you the ability to set up workflows, permissions, control communications, automate reports, create calendars, and view and manage leases