Yardi Voyager - A lot of return for the investment.
August 01, 2017

Yardi Voyager - A lot of return for the investment.

Suzanne Crockett | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Yardi Property Management

We currently use Yardi Voyager 7s to effectively track revenue and expenses related to our managed properties. We manage approximately 30 properties around central Kentucky. Yardi is utilized as our accounting system, helping us track and report all property-related expenses and revenue on behalf of the property landlords that we service. We also utilize Yardi to track tenant, vendor, and property insurance policy information.
  • Tenant rent payments tracking - system allows us to effectively track rent payments made by tenants. Templates for tenant account statements, tenant ledgers, etc,. are available within Yardi, which makes it very easy to communicate tenant account status upon request.
  • Vendor payment tracking - system easily integrates with our third-party vendor payment system, allowing us to effectively track all vendor payments seamlessly from one system to the other. Vendors are paid in a timely manner and all payment information is stored within Yardi, making the generation of 1099 docs at year-end very easy.
  • Insurance Policy tracking - system easily tracks insurance policy information for vendors, tenants, and properties. Ticker lists are automatically updated and give notice to system administrators that policies are due for renewal.
  • The configuration of correspondence templates is a little cumbersome and Yardi support for establishing templates comes at a steep cost.
  • Yardi updates have caused us several issues in the past - we integrated to a new system recently and had established some customized operations -when an update occurred, we lost all the customized functions and were reset to factory standard. It took about 2 weeks to restore full functionality after the update.
  • The knowledgebase for Yardi clients (Client Central) is vast, but finding documentation on specific tasks is cumbersome. Sometimes it takes reviewing multiple source docs (that are 100s of pages long) before you find exactly what you are looking for.
  • Yardi has automated certain accounting functions, freeing up time and effort of accounting staff
  • Yardi has enabled us to elevate the level of service we provide to our clients, allowing us the opportunity to take on bigger clients with greater expectations regarding the financial management of their asset.
  • Yardi has easily integrated with our third-party vendor payment system, alleviating the need for our AP staff to enter the same transaction into two different systems.
  • Yardi
We have always utilized Yardi as our accounting system. We did, however update from Yardi Genesis to Yardi Voyager several months and have experienced first-hand the many advantages to conducting the update. Voyager has enabled us to elevate the level of reporting we provide to property owners regarding the financial performance of their asset.
Yardi Property Management is well-suited for companies managing multiple properties with a broad base of expenses and revenue to account for. I think the size of the company needs to justify the investment in the product. Yardi is not so well-suited to smaller operations, who would be able to function with QuickBooks or some other, less nuanced, system.