CCH Accounting has been working diligently to transition to a new property management software platform called Yardi. The new system provides numerous advantages from our previous applications.
What precipitated the transition to this new Yardi software?
We had been using two software programs to manage and report our various property management activities. We often had to log out of one application and open the other in order to complete our reporting tasks. We also found ourselves dependent on a paper-based system which was time consuming. Yardi has enabled us to fully integrate various functions including finance, compliance and asset management. Now tenant screenings, recertification and other leasing activities are more efficient.
What are the benefits of this application?
Because it has integrated several functions, it has given us more control and consistency in managing the vast amounts of data collected for each community. More standardization and safeguards are built into this system which increases accuracy and reduces errors. The greatest benefit is having a real time view of cash flow and expenses rather than reconciling at the end of the month. Plus, everything is now paperless which saves resources and time. The efficiencies of this new system enable community staff to spend less time mired in paperwork and more time caring for residents and maintaining the campus. This is a win on numerous levels. We are aiming to have all properties using this new system by the end of 2019, if not sooner. In the future, we will expand our use of Yardi even further as we add a module to make procurement more efficient and cost effective.
