Single Family Homes
The Yardi Single Family Homes module allows agile financial planning using actual, real-time data to forecast future performance
Yardi's Single Family Homes Module
The Yardi Single Family Homes module meets the needs of a market where the demand for single family home rentals is increasing. The Single Family Homes module tracks rented single family homes through their life cycle – through pre-acquisition to disposal/end of life. Instead of setting up Properties, Buildings, and Units, Single Family involves setting up Region, Market, and Submarket accounting entities. Though it is possible to set up several one-unit buildings in Residential without the module, the Single Family Module offers greater flexibility and more options suited for tracking the unique rental requirements of many smaller-scale rentals. Note that this is not limited to single units; you can also enter a property as a duplex, triplex, or four-unit building.
The Yardi Single Family Homes module can be particularly helpful if you plan to acquire and rehab unleasable single family homes, as you’re additionally able to select attributes that contribute to a house’s status. For example, if a home is unleasable, you can choose customized reasons why that is in the Single Family Operating Reasons screen.
Here are some additional benefits unique to this module:
- Title Status and Tax Status: the status of a home’s title and taxes (delinquent or paid) can be tracked in the system
- Appraised and Tax Assessed Value are also trackable
- Specific Move-Out related statuses allow you to track properties that are uninhabitable, or that you’re readying for sale
- Quick setup and bulk setup options to enter multiple homes in the system with minimal data entry
- Tenants In Place status unique to this module (used for tenants who are living in a unit at the point of acquisition)
Like with Residential, prospective tenants move through the Guest Card workflow in Yardi Single Family Homes. Leasing workflows are also similar, and like other modules, you can control permissions and access for different groups of employees. You also have the ability to setup Waitlists. There are a few reports unique to the module as well, including Box Score Summary, Home Availability, and others found under the Single Family Analytics menuset that offer unique insights on Single Family Home performance.
Advantages to using Yardi’s Single Family Homes module:
Residential is tailored to buildings with multiple units. There are workarounds, but this can get tricky.
This module removes some of the complicated setup needed on the back end for multifamily properties.
Additional statuses are tailored for an owner/manager who has several SFHs that are uninhabitable for whatever reason at any time. There simply isn’t a good way to track this in Residential.
Appraised value and tax value are important to track if you are considering disposing of a SFH asset.