In this digital world, where information can be accessed quickly and at any time, managing your online reputation as a property management company is critical. Learning how to access this information and keep it updated in a timely manner however, can be difficult if you do not know where to begin. The property management software, Yardi Voyager, provides a reputation management feature. In addition, property managers can utilize the online leasing and resident services and property marketing sites. We spoke with Brad Setser, VP of Marketing, to learn more.
APM: Please describe the product and its function.
Brad: Yardi Voyager is our flagship property management and accounting platform. Voyager, plus a suite of complementary products, creates a full real estate management solution-operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility-for all types of real estate. We recently launched the latest version of Yardi Voyager, called Yardi Voyager 7S. One of the most significant aspects of 7S is that it’s browser-agnostic, which means the entire program can be run from any mobile device as easily as from a desktop. All new Voyager clients adopt 7S and we’re upgrading our existing clients.
APM: What made you develop your product?
Brad: We know that many people conduct much of their business, personal as well as work-related, on the go.We responded by developing Voyager 7S to help our clients meet the mobile expectations of their residents, tenants and investors. We wanted to make Voyager a one-stop solution where users can conduct all marketing, leasing and property maintenance operations from any mobile device. This accessibility helps our clients attract tenants and residents, retain them with convenient online services, perform maintenance, procurement and other operations more efficiently, and satisfy investors and owners with complete transparency.
APM: For property managers who do not have a lot of time to differentiate between products, why does your product stand out from the competition?
Brad: With Voyager, commercial and multifamily property managers can integrate all front- office and back office systems into a holistic “single stack” system that any user can access from one source, quickly and efficiently. The system is integrated properly and interfacing is not necessary, and efficiency is gained because all information is in one place and easily accessed. For example, property availability, recorded in Voyager, is listed immediately on a property marketing site. A host of ancillary products-such as lead tracking, materials procurement, budgeting, online resident services, revenue management, utility billing management and others- can be rolled out faster and cheaper without interfaces or custom software. Furthermore, comprehensive business intelligence comes faster and easier because compilation of a portfolio’s worth of information is automated.
APM: Describe a memorable moment with a customer and what they said about the product.
Brad: One client, Encore Enterprises Inc., is a REIT with a mixed portfolio. Their CFO and COO recently said, “Voyager is the only solution that combines our entire portfolio into one version of the truth. It satisfies all of our vertical market management obligations.” That pretty well sums up what we’re trying to accomplish.
APM: Pick a specific feature of the product and tell me why this feature stands out to you and your own experience with it.
Brad: I’ll pick RENTCafe, our full online leasing and resident services solution, because it encompasses all the mobility, efficiency and client service elements that I’ve discussed so far. Residents see available apartment units, floor plans, apply online- including getting screened- and complete the leasing process, including lease execution and signing up for renters insurance. A resident portal lets residents pay rent, submit maintenance requests and renew their leases. Most notably, social media tools enable reputation management and residential referral programs, and there is a fully functional Facebook property site in which all of this can be done right in Facebook. Of course all of this can be done from a tablet or smartphone. One client said that when marketing point solution vendors tell her about their great new mobile product, she replied, I already have a great mobile product, a great way for people to get on their smartphones and use our services, so I don’t need that. All this adds up to higher occupancy and satisfied residents.
APM: If we talked to your top three customers, how would they describe your product?
Brad: The common thread across any survey of our client base-and we serve organizations of all sizes in the public, private and nonprofit sectors-is that our products help them increase their revenues and NOI, increase efficiency and improve service. One commercial client spoke of using our products to expand into new markets, win contracts and earn industry awards. Another commercial property owner credited us for cutting one-third of the time needed to prepare 10-year cash flow projections for their 200-property portfolio. Per-invoice processing costs dropped by 60% for another client thanks to our automated procure to pay solution. Multifamily property management companies report an average 2-5% revenue increase over market with our revenue management product. These are the outcomes we strive for with our product development and client service efforts.
To Sum It Up!
Yardi Voyager is property management software with several built-in features providing property managers the ability to streamline all their day-to-day tasks. Property managers can access their information from any location, and use features like the online reputation management system to track and manage apartment reviews and comments.
Like this article? Check out other similar articles with information on technology resources on our Property Management Tech Tools Page!