The YASC Global, 2023 is happening virtually March 1-2, 2023. It is a virtual event for all Yardi users, consultants, and industry experts, and the Assetsoft team didn't forget to attend it. In their spotlight session for Commercial Real Estate Solutions, we got a detailed understanding of the multiple Yardi products that can benefit CRE business managers, owners, and businesses.
In other exciting news, we also learned a lot about their new innovations at the end of the session. We also got a clear walkthrough of their vision for the next steps. Also came across the new ways Yardi plans to help property managers, asset managers, and other real estate professionals through their new features.
This post will give you a detailed understanding of everything discussed in this session. Read on to learn how these new developments and announcements can help you manage your properties better.
Yard Lease Manager
Kevin Yardi (Vice President of Consulting Practices) started this session by saying he hopes more Yardi users start using the Lease Manager for a holistic lease lifecycle. He also spoke about a hidden feature where once you upload your leases on this dashboard, it can also get a direct report on your available properties. This will help you market your available properties at different listing sites in real time.
Managing all the leases under your portfolio will also help generate better leads. Then the same space can be used for a lease negotiation. Then you can push the economics of each new deal to the budgeting tool. This will help you make better forecasts and understand if the property sale is within the budget. Once all this is done, you can use this space to convert a deal into a lease and sign it with your tenants.
There is also a tenant portal where your tenants can pay the deposit, rent, and more. This helps you assess the tenant risk to make better plans to step forward.
More about CommercialEdge Marketing product
This session was headed by Arjun Rao (Products Management team), who talked about how CommercialEdge can benefit you. He also talked about new features of this product that they launched recently.
The CommercialEdge product focuses on getting CRE businesses high-quality leads and traffic to their listings. It also helps in market research on every property data and turns the data into new opportunities. This product is completely customizable according to your brand's marketing needs, so there is no issue with generic websites. The properties listed on your website can also be listed on Yardi’s own property listing sites to help generate more leads.
They just launched a new feature of automated marketing emails and brochures. Here you can customize them depending on your listing and client type and send them to your target audience. Here you will also get to see the number of people who clicked on the email and the number of people who opened the email. You can then do an in-depth analysis of your marketing strategy.
CommercialEdge Deal Manager
The Deal Manager helps you manage the whole lifecycle of a deal, from lead generation to lease agreement. You can also look closely at your portfolio health to determine if your market plans are working. This feature also has an electronic signature capability to help you close deals virtually.
You can also create your lease or legal documents at the Deal Manager. You can get the basic documents in place before your legal team can filter through them. This automates your work and speeds it up.
The highlight of Forecast Manager
You can use the forecast manager to make long or short-term forecasts and annual budgets for your whole portfolio. You can also use it to make operating budgets for short-term usage. You can also make your lease management team use it so your budgets and forecasts stay in sync with the leases.
Valuation Manager - The sister product to Forecast Manager
This product helps CRE business owners evaluate all properties under their portfolio. This tool can be used to understand their true potential for old properties or new acquisitions. With this product in place, you can determine if a particular property will have a good ROI for your business.
If a property does not have the potential for enough revenue generation, then you can either drop the property or upgrade its features for better ROI. In 2022 they launched a feature to lease-level variance reports under Valuation Manager.
A senior executive, Karen Walsh also mentioned the new features in Valuation Manager they are about to launch in 2023.
A new Debt Manager interface - Will get all information about principal and interest payments
OPEX reports export and import directly from your Excel sheets
More intuitive multi-unit leases because these leases can be very tricky to handle
Reporting Suites - Where you can make report packets to tackle your forecasting and budgeting reports
More on the Construction Manager
CRE businesses can leverage Construction Manager features to coordinate between construction, accounting, and project teams. They will collect real-time data to see if their work is on schedule and within budget. They can then change their plan of action accordingly. It also helps manage vendors under the same platform.
This product has a great roadmap for 2023. Here are a few new features that they are about to launch to address client needs,
Construction document generation, with the special Red Lining capability
The Construction Manager will also get a mobile app to help all stakeholders
You will also be able to e-sign documents between employees and vendors
They will also launch a new workflow analytics dashboard
The Roadmap Ahead
In 2023 Yardi is set to launch 4 new products for commercial property management. They are,
TenantShield
Power BI Connector
Yardi Novo
Space Manager
Both old and new Yardi users stand to benefit from these advancements. Confused about which old or new features are a must-use for your CRE business? It is time you got in touch with us. Assetsoft is one of the top independent Yardi consultants and experts who have worked with this software for ages. Hence, we can guide you better. We have helped thousands of clients integrate Yardi and optimize their software usage.
We are always updated about all the new developments and newly launched features. As an official partner of Yardi, we also have the most insider information to help businesses make the most of this property management software.