Yardi Residential is an accounting, analytics, and end-to-end property lifecycle solution.
Yardi Residential is an accounting, analytics, and end-to-end property lifecycle solution. It functions as a centralized hub for your resident, financial, operations, and maintenance data, enhancing both the experience of site staff and the resident. Property characteristics, rentable items, unit history, vacancies, and many more, are easily trackable in Yardi Residential. Agile report creation and automation simplifies reporting to external partners – several standard and customizable reports come pre-loaded into the system. Workflows can be customized to mirror business processes and enhance data security. Yardi is additionally a table-based system, making import. Yardi interfaces with third party applications, including ScreeningWorks PRO and Blue Moon, keeping your leasing activity in one spot.
The most important piece of Yardi Residential functionality is the ability to manage resident information and lease tracking – the day-to-day operations of your rental business. Yardi Residential redefines site staff workload by streamlining tasks like move-ins and move-outs, process payments, and more. Dashboard customization allows you to create a specific “landing page” for groups or individual employees.
Menusets and dashboards are customizable in Yardi Residential, allowing you to select which employees have read/write access to information, view access, or no access at all.
Market Surveys in Yardi Residential can provide an in-depth look at your property compared to other area properties and can guide important financial decisions. If you are collecting data (like rents, leasing specials, property features, renovations and special features, et cetera) from competitors and analyzing it already, leverage Yardi’s table-based system to compare data across several properties or perform other advanced calculations and generate graphs and charts.
Create Gross Potential Rent Reports in Yardi Residential to examine overall property performance. Gross Potential Rent is the amount of rent that could possibly be collected in a calendar year – Actual Rent is that amount minus losses caused by vacancy, extended unit turnover, and resident delinquencies. Once created, reports can be translated into a batch of Journal Entries in the system. Yardi’s standard Chart of Accounts includes accounts to track gain/losses and write-offs.
Taskrunner functionality in Yardi Residential allows for the setup of background system tasks and functions that ensure data integrity.
Yardi Residential’s Maintenance and Make Ready tasks allow site staff to keep up to date, searchable records of available units for prospective applicants, and to schedule needed maintenance. The Make Ready functionality keeps things organized and reduces a unit’s potential “down time.”
Report Scheduler – a tool that allows you to select which reports to include in a packet, when to send the packet (weekly, monthly, quarterly), and to select recipients. Financial and Residential packets include most reports needed to run a property, including Income Statements, Balance Sheet, Statement of Cash Flows, and on the residential side Rent Rolls, Aged Receivables, and many others.
Back-end setup options in Yardi Residential – examples of a few modifications to the system:
Yardi Residential automates and digitizes any process or function you need to perform to run a multifamily housing property – including building and maintaining waiting lists, lease management, charging rent, creating correspondence, setting up workflows for employees, creating payables and receivables, generating balance sheets, income statements, statement of cash flows, securing data, tracking unit history, implementing rent increases, evicting tenants, reporting on gross potential rent, viewing metrics, and more.