SANTA BARBARA, California, March 19, 2019 /PRNewswire/ -- The percentage of real estate investment trusts (REITs) using Yardi® products has tipped over the fifty percent mark. REITs around the world use the Yardi Voyager® platform to support lease administration, straight-line rent and recoveries, facilities management, business intelligence, online payments and other operations. Platform functionality also includes consolidations, job costing, intercompany lending, automated taxable subsidiary accounting and fee management. These advanced tools provide shorter month- and quarter-end work cycles.
- Encompass more than 50% of U.S. REITs, as measured by market cap
- Account for more than half of U.S. REIT revenue
- Include the fastest-growing REITs; 19 of the top 25 based on percentage revenue increase and six of the top 10 top market cap growth performers and seven of the top 10 REITs measured by earnings per share growth
"Performing all business operations in one platform enables reporting at the tenant level in addition to the property level. This gives us a more complete picture of portfolio performance," said Sumit Roy, president and chief executive officer for REIT Realty Income, an S&P 500 company with more than 5,300 commercial properties in 49 U.S. states and Puerto Rico. "We have stronger control over processes, less manual accrual and full data integrity with no interfaces between systems. We can concentrate on our core business of selecting and managing investments that increase earnings and therefore dividends."
"Yardi Investment Management and Yardi Voyager have proven to be ideal solutions for the reporting, analytical capability and scalability requirements of REITs around the world," said Robert Teel, senior vice president of global solutions for Yardi.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.