If you are considering using Yardi as a property management software, you must know the different varieties of this software. There are three different versions available in the Yardi marketplace. Each variety has different features, customizations and usability that work for each business. Which version should you pick, and which would better fit your business type?
According to market reports, Yardi has more than 30.66% market share in the property management software market. Businesses use it to manage properties like residential buildings, restaurants, workspaces, retail shops, airports, etc. And more than 12860 companies use it at present, with over thousands of customers using it daily to manage different kinds of properties.
To better understand which is the best fit for your business, Yardi Breeze or Yardi Voyager. Do you need to make a shift between the two? Read this article to find out.
Which one is right for your business?
Yardi Breeze and Yardi Voyager work well for multi-family homes and commercial properties. But depending on the size of your portfolio and the complexity of your management work, you must choose which works best for you.
Yardi Breeze is a simple version of property management software. It can do all the basic tasks like rent collection, drawing up financial statements, quick CAM reconciliation, etc. It is simple, easy-to-use and easy-to set up software that does not need much staff training to work with.
Due to the high popularity of this version of Yardi, they launched the new Yardi Breeze Premier. Breeze Premier has some additional features and the regular Breeze features to help you manage your business better when it scales up.
The Yardi Voyager is a little more complicated version of this software. It has advanced features like automated budgeting and forecasting, revenue management and construction management. Real estate businesses mostly use it when they have a diverse portfolio and a bigger business process.
The Voyager is a little more complicated because it needs employee training to make your staff accustomed to the advanced features. It also needs a day or two to set up, but these additional features can automate many complicated property management tasks.
Yardi Breeze vs Yardi Voyager
You need to have a set goal before choosing your property management software. Plan your strategy and leadership to understand what you want to achieve and which functions you want to automate.
Do you want to automate back office accounting or want to employ an accountant for the job?
Do you have any advanced needs like construction management? Or does your company only deal in sales and involves no construction work?
What are your plans for budgeting and forecasting? Do you need advanced analytical budgeting and forecasting reports, or yours is a small business which follows a DIY process?
These are questions you need to ask yourself and your team before you decide on your choice of software.
Should you Use Yardi Breeze?
You probably do not need many advanced features if you run a small real estate business and are just starting out. Yardi Breeze is the right fit in such cases. And if you are new to the use of technology in business, it is best to start at the basics and then scale up.
If you have less number of tenants and only a few properties under your portfolio, then Yardi Breeze is the correct choice for you. If you do not have complex reporting and reconciliation work to handle, go for the Yardi Breeze. What are the other advantages of using Breeze?
A quick system set up within a few hours and easy to train employees
Live chat support from the Yardi team to help set up the system with additional support
Mobile and remote work friendly
Budget-friendly pricing based on the type of property you manage
It can be used together with your existing software system
The user interface is simple and can be quickly understood
Tenant communication and rent collections become super fast
Is Yardi Voyager Right for You?
Yardi Voyager is best used by medium- and large-sized companies with diverse portfolios and multiple tenants to manage. And if you are a real estate company that already uses a selection of technology for property management, you should use the advanced Voyager features. Old tech users will make better progress and handle their business much better with the additional features available on Voyager. Beyond this, what are the other advantages of using the Yardi Voyager?
Advanced help in budgeting and forecasting plans, details reports of the same
Online lease management and investment management
Rent control and deferment based on your renting needs
Revenue management of your whole business and your properties
Automation of construction management and handling construction from remote locations
Call centre assistance and 24*7 back-end support
Search engine optimization of your page and website and additional PPC services
Detailed back office accounting
Customer relationship management integrated into the same software
When you opt for the Yardi Voyager, you must remember that it is a little harder to integrate. It takes a little more staff training than Yardi Breeze, but the additional features can help automate your tedious back office work. Moreover, the Voyager version needs more integration time than the simple Breeze version.
How do you decide which one is right for you?
Even if you start your journey with PropTech with Yardi Breeze, you must remember that transitioning from Breeze to Voyager is quite easy. If you are new to PropTech use, start with Breeze. Then if your business scales up, you can change the package to Voyager. Yardi is a scalable software that can also meet your tech needs today and in the future. Base your decision on your current business goals, and you can shift when necessary.
Teaming up with a trusted Yardi Consultant
As an independent Yardi consultant, Assetsoft has helped many real estate businesses set up their Yardi property management systems. If the question of choosing the right version of the software seems daunting to you, we are here to help. Partnering with us sets you up for success. We provide you with insider information about the software and will get you the best deal in the market.
Talk to us to help us understand your property management needs so we can guide you better.