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Yardi's Commercial Module

Commercial

Commercial

Yardi’s Commercial module handles all components of your real estate business, including invoicing, payables, budgeting, and tenant management, on one platform.

Yardi's Commercial Module

Yardi's Commercial Module

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

Payment Processing

How can you ensure that you receive notifications of recurring payments, failed payments, etc. By using the Payment Processing Admin role: Setup-> Email Notifications Setup.

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Payment Processing

Can tenants set up recurring payments? What types of charges can they pay? Your company can customize how tenants make payments and how those payments

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