Yardi - Combining Property Management Functions
August 01, 2017

Yardi - Combining Property Management Functions

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

Overall Satisfaction with Yardi Property Management

Yardi is used by my company mainly as a way of evaluating clients real estate assets and property management needs. It is used only by our consultancy department and specifically the project management team. It addresses the problems of cash flow analysis, managing property expenses, and evaluating future budgeting needs and accounting line item organization.
  • Yardi Property Management particularly excels at creating a system where it is easy to leave feedback for property managers because the data is available up front.
  • Yardi is also a useful tool at integrating property management across the entire platform. It can be used for asset management as well even for the most nitty gritty details.
  • It is also convenient to edit expenses inputted by the accounting department and managing those expenses forward for future budgeting.
  • Yardi is not particularly user friendly. Each function needs time and practice in order to execute properly, and instructions are not particularly clear sometimes.
  • The licensing can be challenging as it is very restrictive, even with multiple open licenses across a company.
  • Files have a tendency to be corrupted easily.
  • Yardi saves much time whenever my company is involved in consulting a property manager or an asset manager on their real estate asset. Because we can look at their Yardi financials, it's easy to tell where cash is being spent.
  • Yardi has a positive ROI by making us able to answer these questions quickly, and thus keep clients happy.
Citrix and Argus are property management tools that each fill a function. Citrix is used to track real time payments, while Argus is used for modeling and cash flow analysis. Yardi combines many of the features between the two. Though it is more difficult to use, fully integrating Yardi into a company could save time and money and standardize many of the finance operations of Real Estate asset management firms.
Yardi is very well suited to evaluating the property management aspect of a real estate asset. It is best used as a tool for budgeting and expense management. One of the most challenging aspects of asset management is being able to budget for property managers correctly. Yardi makes this process much more simple. Yardi, however, is not as useful when it comes to modelling unique real estate assets. There is very little simulation that the program offers.