Yardi

2 Replies

I have done a little bit of research and it sounds like Yardi is the best, albeit pricey, property management software available. Buildium doesn't do commercial which I need.

Yardi requires a 1 year contract and a $2400 annual min spend so my question for all of you is, before I sign on the dotted line, is there anything you do not like about the program? Any reason why you would advise against it?

My other question is how is the accounting side of Yardi? Easier to use than Quickbooks? Does it allow you to do personal accounting as well as property accounting on the program?

Just went through a yard Conversion from Genesis to voyager. We use it strictly commercially. 8 million sq ft. Office/industrial little bit of retail.

Yardi was originally intended for residential and it remains strong to those roots. That said the majority of the larger commercial world is with yardi. It's easy to use and navigate (totally different product than quickbooks. Nothing similar)

Now- try getting a rent roll that shows annual bumps, cam as a monthly figure vs a monthly psf figure and several things that are normal to the commercial world and you are SOL.

We paid yardi to produce the rent roll we wanted but it still sorts oddly and not in a flowing way. Very MRI type report with quirks.

We also use the dinosaur skyline. Frankly gives the best reporting. We coupled skyline with crystal reports and you can pull out anything. But it's a dinosaur.

Yardi is the new standard. Just be prepared to pay for anything above residential apartment type information.

Customer service after the sale 0. We ended up hiring someone with years of experience at $180 per hour to get it to work the way we wanted. It was a lot of hours.

Cool feature of yardi- the payables system. Downside it's paid for on a per transaction basis. So paying the bills on 8 million sq ft is a hefty number. But I can approve from my iPad lol. I believe we are in the $1.00 per transaction rate. 2-3000 payables per mo. But I can approve from my iPad lol.

At the end it's the lesser of evils. It's become the standard commercially. Not sure why but it has.

Also, you pay annually per license. So you buy the software then pay per user. We tripled up. So three property managers use one login. Another three use another login.

Last issue we had to overcome we always hosted our own data. Yardi is now cloud. What happens when we want to make another switch? How do we get that data back? We are locked in for several years

I can give lots of issues. But I think all softwares have quirks. Yardi has a lot. Skyline, MRI and others have quirks too. But in answer to your original question she's a whole different beast than quickbooks.