Assetsoft - Blog , YASC

IBM Is Retiring TRIRIGA. Your Migration to Maximo Is Mandatory - Your Platform Isn't

Sun, 31 May 2026 16:06:53 -0500

Support for TRIRIGA ends in September 2027, and new orders have already closed. The data survives the move to Maximo the disruption does not. For most real estate operators and corporate occupiers, that forced disruption is the best moment in a decade to ask a sharper question: is a purpose-built platform like Yardi a better home for your portfolio than an asset-management suite?

Jan 28, 2026

New TRIRIGA orders & SaaS sign-ups closed

Sep 30, 2027

End of support for all TRIRIGA versions

MREF 9.x

IBM's designated upgrade path, inside Maximo

For nearly two decades, IBM TRIRIGA has been a fixture in the corporate real estate world — the system of record that quietly ran the leases, spaces, capital projects, and maintenance programs of some of the largest property portfolios on the planet.

If you lead a real estate, facilities, or workplace function and you run TRIRIGA, it has likely become invisible in the way only deeply embedded software can: unremarkable until something forces you to look at it again.

Something just did. IBM has set a firm end date for TRIRIGA as a standalone product, folding its capabilities into the Maximo Application Suite under a new name.

For most organizations the first reaction is procedural — “we’ll follow the upgrade path and move on.” But treating a forced replatform as a simple version bump is the single most expensive mistake you can make right now.

This article lays out exactly what IBM announced, what the migration genuinely involves, and how to think clearly about your options before the clock runs out.

First, a Definition

What is an IWMS?

An IWMS — Integrated Workplace Management System — is enterprise software that unifies five traditionally separate real estate and facilities disciplines on a single platform and database:

Real estate & lease management — lease administration and lease accounting.
Capital projects — construction and capital planning, budgets, controls.
Facilities & maintenance — work orders, preventive maintenance, inspections.
Space & workplace management — floor plans, occupancy, desk and room booking, moves.
Energy & sustainability — consumption tracking and ESG reporting.

The value is integration: a single source of truth, so a lease event can trigger a maintenance task and a space change can flow straight into occupancy cost.

The short version

TRIRIGA isn’t dying — the brand is. The capability continues inside IBM Maximo Real Estate & Facilities.
The clock is real. Support for TRIRIGA versions ends September 30, 2027; new software orders closed January 28, 2026.
It is not a destructive data conversion. On IBM’s path your database largely carries forward.
The disruption is mandatory either way. Which is exactly why standing pat without evaluating alternatives leaves real value on the table.

What IBM actually announced

Let's separate the facts from the noise. IBM has announced the support lifecycle completion for all versions and releases of IBM TRIRIGA and the IBM TRIRIGA Application Suite, effective September 30, 2027.

Alongside that, software ordering for these programs concluded on January 28, 2026, and TRIRIGA SaaS is no longer available for new orders as of that same date.

The designated successor is IBM Maximo Real Estate & Facilities (MREF) 9.x, delivered as an application within Maximo Application Suite (MAS) 9.x.

Jan 28, 2026

New TRIRIGA orders & SaaS sign ups closed

Sep 30, 2027

End of support for all TRIRIGA versions

MREF 9.x

Upgrade path inside Maximo Application Suite

Is TRIRIGA "dead"? No — but the strategy behind it has changed

It would be inaccurate, and frankly unfair to IBM, to say TRIRIGA is being killed. Lease administration, space and portfolio management, capital project planning, and facilities operations all continue inside Maximo Real Estate & Facilities.

If anything, sitting alongside Maximo's asset-management engine opens genuinely useful adjacencies — condition-based monitoring, mobile inspections, and IoT-driven maintenance that TRIRIGA, on its own, did not natively reach.

But the center of gravity has shifted, and that matters for fit. TRIRIGA was conceived and sold as an Integrated Workplace Management System — a platform built first and foremost around corporate real estate, lease accounting, and the workplace.

Maximo's heritage is enterprise asset management for asset-intensive industries, and IBM now positions the combined portfolio under its sustainability software business.

For an organization whose core need is property and lease management, you are now a real-estate use case inside an asset-management suite, rather than the headline use case of a dedicated workplace platform.

The data survives the migration. The disruption does not — and disruption you have to pay for anyway is the cheapest re-evaluation you will ever get.

Is this a data migration or a full data conversion?

This is the question that quietly terrifies most TRIRIGA owners, and the honest answer is reassuring — with a catch. On IBM's own path, this is not a destructive, from-scratch data conversion. Maximo Real Estate & Facilities is essentially TRIRIGA re-platformed onto Maximo Application Suite rather than rebuilt.

IBM's migration guidance lets you continue using your existing TRIRIGA application database in its current location, or move it to a new database, and a dedicated User Migration Tool moves your users and licenses across — letting you review and update people records before assigning new licenses.

A connector also keeps portfolio data such as people, locations, and assets synchronized between the TRIRIGA and Maximo sides during transition.

So your lease records, your space hierarchy, your portfolio data — those carry forward. The hard part isn't the data. The hard part is everything wrapped around it:

New infrastructure. Maximo Application Suite runs on Red Hat OpenShift, and adopting MAS means standing up MAS Core and Foundation Services as a new platform layer.
A new licensing model. TRIRIGA's licensing is replaced by Maximo's role- and usage-based AppPoints, which means right-sizing your license pool becomes a genuine strategic exercise.
Customizations and integrations. If your TRIRIGA instance is heavily customized, you will need to decide what to rebuild using Maximo's native and low-code tools, and what needs a more involved integration approach.
A new interface, plus training and change management. A new platform means new admin skills, new user experiences, and the organizational work of bringing people along.

The contrast is important for your decision: staying with IBM preserves your data but still demands a real replatform project. Moving to a different system requires a full data migration and reimplementation. Once you see those two paths side by side, the gap between them narrows far more than the incumbent's gravity suggests.

What the precedent tells us about how this actually goes

TRIRIGA-to-Maximo is new enough that it has a thin track record of its own. Fortunately, it inherits a very well-documented precedent: the broader migration from classic Maximo 7.6.1 to Maximo Application Suite, which uses the same OpenShift platform and the same AppPoints licensing model that MREF now sits on top of.

The signal from that precedent is consistent — this is a substantial undertaking, not a patch.

The clearest tell comes from IBM itself: the sustained support program for legacy Maximo was structured to run for years beyond the official end-of-support date specifically to account for the difficulty and technical lift of migrating.

When a vendor builds a multi-year runway because customers cannot realistically move in time, that is a candid acknowledgment of complexity. Independent commentators in the Maximo ecosystem have been blunter still — describing the move as something that is “not a lift-and-shift”, with the heavy lifting concentrated in OpenShift infrastructure readiness, revalidating or rebuilding customizations and integrations, change management, and licensing strategy.

On timelines, system integrators that do this work typically quote roughly three to six months for a TRIRIGA-to-MREF transition under favorable conditions, with heavily customized environments often extending beyond that range.

The point is not to frighten you; it is to set honest expectations. Any project of this size deserves a deliberate decision, not a reflexive one.

The question the timing hands you: is Maximo still the right fit?

Here's the strategic core of this entire transition. The reason a forced migration is so valuable as a decision point is counterintuitive: the switching cost that normally protects an incumbent has just been removed.

In a normal year, ripping out a system of record is unthinkable — the migration cost, the integration rework, the retraining, the licensing renegotiation all act as a moat that keeps you exactly where you are, regardless of whether the platform still serves you.

But IBM has now scheduled all of that disruption for you anyway. You will be standing up new infrastructure, renegotiating to a new licensing model, rebuilding customizations, redoing integrations, and retraining users no matter which direction you choose.

The moat has been drained — and the incremental cost of evaluating, and potentially moving to, a platform genuinely built for your use case has rarely been lower.

Even IBM's own implementation partners frame the transition this way. The recurring advice across the ecosystem is to treat it as a “reset opportunity” — a moment to streamline processes, retire outdated customizations, and rethink your data strategy rather than faithfully rebuilding what you already had.

One major advisory firm opens its transition guidance by telling clients to first evaluate whether their existing deployment is delivering full value, because the transition “may be an ideal opportunity to move on from a configuration that isn't working.”

If the people paid to migrate you into Maximo are telling you to re-evaluate first, that advice is worth taking seriously.

Your three real options

Strip away the noise and you have three genuine paths. None is universally right; the correct answer depends entirely on the shape of your portfolio, the depth of your customizations, and where your operating model is heading.

Option 1 • Continuity

Follow IBM into Maximo Real Estate & Facilities

Stay within the IBM ecosystem, preserve your data and configurations, and replatform onto MAS. Best for asset-intensive organizations that already use — or want — Maximo's broader EAM, IoT, and condition-monitoring capabilities, and that have the appetite to adopt OpenShift and AppPoints. The path of least conceptual change, but not the path of least effort.

Option 2 • Modernization

Move to a purpose-built platform — for most, that's Yardi

Migrate to a platform designed around real estate and the workplace rather than asset-intensive maintenance. For corporate occupiers, that means Yardi Corom; for owners and operators, Yardi Facility Manager on the Yardi platform. MRI Software, Archibus, Planon, and Nuvolo are also credible IWMS options worth considering. This path is a full migration and reimplementation, and it's the right call for organizations that have already outgrown TRIRIGA or whose needs sit squarely in real estate and lease management rather than heavy enterprise asset management.

Option 3 • Deliberate Delay

Extend, stabilize, and decide on your terms

Use available extended-support arrangements to buy a defined window — not to avoid the decision, but to run a disciplined evaluation rather than a rushed one. Sensible when your renewal timing, internal capacity, or a parallel transformation program means a forced sprint would produce a worse outcome than a planned move twelve months later.

Why so many TRIRIGA users land on Yardi

When the migration is forced anyway, the natural question is “which platform was actually built for what we do?” For real estate operators and corporate occupiers, the answer is frequently Yardi — not as a like-for-like clone of TRIRIGA, but as a connected, cloud-native platform where centers of gravity in real estate, leasing, and facilities gathering matter.

Importantly, Yardi is delivered as a fully hosted SaaS solution, so there is no Red Hat OpenShift estate to stand up and no AppPoints model to right-size. Yardi paths naturally across the two buyer types TRIRIGA always served:

For corporate occupiers & tenants

Yardi Corom

The direct occupier analog to TRIRIGA

Centralized lease management with critical-date tracking
Lease accounting compliance for FASB ASC 842, IFRS 16 and GASB 87
Occupancy tracking and flexible desk booking
Transaction management and broker collaboration
Facility maintenance and construction management
100% cloud SaaS — deploy as a single stack or by module

Explore Yardi Corom →

For owners & operators

Yardi Facility Manager

Maintenance & CMMS on the Yardi platform

Automated work-order assignment, tracking and completion
Planned and preventive maintenance with code-compliance checks
Inspections — manual, regulatory and due-diligence
Mobile app for technicians with offline support
Auto-posts purchase orders, payables and charges to your ledger
Connected to CommercialCafe tenant portal and VendorCafe

Explore Yardi Facility Manager →

The deciding advantage for most real estate organizations is that these aren’t bolt-ons. They sit on the same Yardi platform as your property accounting, management, charge posts straight to the general ledger, leases event flows into occupancy cost, and a tenant request raised in CommercialCafe lands in Facility Manager — the integration that an IWMS promises, delivered natively rather than stitched together.

TRIRIGA / IWMS capability	Where it fits in Yardi
Lease management & lease accounting	Yardi Corom — occupier leases and lease accounting
Facilities & maintenance / work orders	Yardi Facility Manager — functions as a CMMS
Space, occupancy & workplace management	Corom occupancy & desk hoteling; Floorplan Manager
Capital projects & construction	Yardi Construction Manager
Energy & sustainability / ESG reporting	Yardi Energy Suite & sustainability reporting
Portfolio data & property accounting	Yardi Voyager — the connected core ledger
Tenant & vendor engagement	CommercialCafe and VendorCafe

Which configuration is right depends on whether you sit on the occupier or owner side of the table — and that is exactly the kind of distinction a structured evaluation needs to settle.

Yardi will be the strongest fit for many TRIRIGA users; it will not be the answer for every one, particularly where genuine asset-intensive organizations that lean on Maximo’s industrial maintenance depth. The goal is to choose deliberately, with the mapping above as a starting point rather than a foregone conclusion.

How to run a disciplined evaluation — before you commit

Whatever you choose, the failure mode is the same: choosing a path before you understand where you actually stand today. A credible evaluation doesn’t start with product demos. It starts with an honest inventory of your current reality — and then weighs your options against criteria you set, not the ones a single vendor happens to win on.

1. Map what you really have

Document your modules in active use, the depth and necessity of your customizations, every integration TRIRIGA touches, your data quality, and — critically — which capabilities are load-bearing for the business versus which are legacy habits no one has questioned in years.

2. Define your future-state requirements

Separate what your portfolio needs in the next five years from what your current configuration happens to do. Lease accounting compliance, occupancy and workplace optimization, capital project depth, asset and maintenance intensity, sustainability reporting, mobility — weight them by your strategy, not by feature checklists.

3. Score every option, including staying

Run Maximo, the leading alternatives, and the delay scenario through the same weighted scorecard, including total cost of ownership over a realistic horizon, migration risk, and time-to-value. The discipline of scoring the incumbent on equal footing is what turns a reflex into a decision.

Where Assetsoft fits — and where we're transparent with you

This is the work we do every day. Assetsoft is a multi-platform PropTech consultancy that has been helping real estate owners, occupiers, and operators select, implement, and integrate property and facilities technology since 2012, across North America, the UK, the Middle East, and Asia-Pacific.

We run structured, criteria-based platform evaluations and execute the migrations and integrations that follow.

We will also be straight with you about something most firms gloss over. Assetsoft is a certified implementation partner across several of the platforms you might evaluate — we are a Yardi ICN member and Virtuoso Qualified, MRI Certified, a Procore Partner, UiPath Certified + Fast Track Agent, and a SAP Concur Partner.

That breadth is exactly why we can run a genuinely useful comparison: we have done the migration mechanics on multiple sides of this market, not just sold one product. But because we implement several of the platforms in the field, a disciplined evaluation engagement is structured around your weighted criteria and your data — so the recommendation is defensible whether it lands on "stay on Maximo," "move to Yardi," "move to MRI," or "extend and decide later."

If the honest answer for your portfolio is to follow IBM into Maximo, we will tell you so. The one thing we'd urge you not to do is let the September 2027 clock make the decision for you by default. A forced migration is a rare, paid-for opportunity to get this right. Use it deliberately.

Common Questions

Questions TRIRIGA owners actually search

An IWMS unifies real estate and lease management, capital projects, facilities and maintenance, space and workplace management, and energy and sustainability on a single platform and database. The integration is the point: one source of truth across functions that are usually run in separate systems. IBM TRIRIGA is one of the original flagship IWMS platforms.

IBM is retiring the TRIRIGA brand and standalone product, not the underlying capability. Lease administration, space and portfolio management, capital planning, and facilities operations all continue inside IBM Maximo Real Estate & Facilities, an application within the Maximo Application Suite.

IBM has set the support lifecycle completion for all TRIRIGA and TRIRIGA Application Suite versions at September 30, 2027. New software ordering closed on January 28, 2026, and TRIRIGA SaaS is no longer available for new orders as of that date, though existing SaaS subscriptions remain active for their term.

On IBM's own upgrade path, no. Maximo Real Estate & Facilities is TRIRIGA re-platformed onto Maximo, and your existing application database can stay in place or be moved, with a User Migration Tool handling users and licenses. The effort and risk sit in new infrastructure, the AppPoints licensing model, and rebuilding customizations and integrations — not in the data itself.

Beyond following IBM into Maximo, organizations commonly evaluate Yardi and MRI Software — particularly strong for lease-led and occupier or owner portfolios — along with established IWMS platforms such as Archibus, Planon, and Nuvolo. Moving to any of these requires a full data migration and reimplementation, which makes the most sense for organizations already considering a change.

For many real estate operators and corporate occupiers, yes. Occupiers typically map to Yardi Corom — lease management, lease accounting (ASC 842 / IFRS 16 / GASB 87), occupancy tracking, desk hoteling, and facility maintenance. Owners and operators map to Yardi Facility Manager — work orders, preventive maintenance, and inspections — connected natively to Yardi Voyager property accounting, so maintenance charges post straight to the ledger. Yardi is delivered as cloud SaaS, so there's no OpenShift estate to stand up. The exception is genuinely asset-intensive organizations that depend on Maximo's industrial maintenance depth, which may be better served staying with IBM.

System integrators estimate roughly three to six months for a TRIRIGA-to-MREF transition under favorable conditions. The closely related Maximo 7.6 to Maximo Application Suite migration has historically run longer and carried meaningful budget and complexity, largely due to OpenShift infrastructure, licensing changes, and customization rework. A clear current-state assessment is the single biggest lever on both timeline and risk.

Staying is a legitimate choice — especially for asset-intensive organizations that benefit from Maximo's wider capabilities. But "safe" is the wrong frame, because the migration effort is mandatory regardless of direction. The disciplined move is to evaluate Maximo against purpose-built alternatives on equal footing, then decide. Defaulting to the incumbent without that comparison is the option most likely to leave value unrealized.

Akan T. Rajah is Founder & Managing Partner of Assetsoft, a multi-platform PropTech consultancy headquartered in Markham, Ontario, with delivery teams across Canada, India, Sri Lanka, and the United States. He has spent 25+ years helping real estate owners, occupiers, and operators select, implement, and integrate property and facilities technology.

Yardi ICN Member + Virtuoso Qualified

MRI Certified

Procore Partner

UiPath Certified + Fast Track Agent

SAP Concur Partner

Get Started Now

CAM Recoveries in Yardi Voyager: Best Practices for Getting It Right

Tue, 24 Mar 2026 08:12:03 -0500

Quick Answer: Implementing CAM recoveries in Yardi Voyager requires a structured, top-down configuration hierarchy from system-level defaults through property settings to individual lease profiles. The most common error sources are mismatched GL account mappings, incorrect variable/fixed expense classifications, incorrect pro-rata share denominators, and misconfigured cap types. Running the Voyager Data Validation Analytics tool before every reconciliation cycle is the single most impactful quality-control step you can build into your process

Why CAM Recovery Configuration Is So Consequentia

For commercial landlords managing office, industrial, or retail portfolios, CAM expense recoveries can represent a meaningful share of net operating income. Get the Yardi Voyager setup right, and reconciliations run cleanly. Get it wrong, and the errors compound over twelve months before surfacing at year-end often triggering tenant disputes, credit reversals, and audit exposure.

(Recoverable Expenses × Tenant Pro-Rata Share) − Monthly Recovery Estimates = Year-End True-Up

Simple in principle but the configuration that feeds each variable spans dozens of fields across multiple screens. The best practices below represent the patterns that prevent the most expensive mistakes.

The 3-Tier Configuration Hierarchy

Yardi Voyager's recovery module is structured in three layers. Each layer inherits from the one above, meaning an error at the top flows downstream to every property and lease beneath it.

• System Level — Global defaults: area measurement standards, proration types, recovery groups, base expense pools, and global lease types.

• Property Level — Tailor global settings to a specific property: activate relevant lease types and expense pools, set property-specific denominators.

• Lease Level — Attach recovery profiles, base years, caps, minimums, and exclusions to individual tenant leases.

Best Practice 1: Define Recovery Groups and Expense Pools First

Recovery Groups are the categories CAM, Real Estate Tax, Insurance, and Utilities that organize how expenses are bundled for billing and reconciliation. Expense Pools sit beneath them and map to specific GL accounts.

• Audit your chart of accounts first. List every GL account that records a potentially recoverable operating expense and match it to the correct recovery group before creating pools in Voyager.

• Review GL mappings quarterly, not just at year-end. New GL accounts created mid-year for reclassified expenses are the leading cause of 'missing expense' gaps at reconciliation time.

• Use distinct charge codes for estimates vs. reconciliation. Voyager requires separate, unique charge codes for monthly estimate billing and the year-end true-up. Mixing these causes posting errors that are difficult to untangle retroactively.

Best Practice 2: Classify Expenses as Variable or Fixed and Review Annually

Yardi's gross-up mechanism adjusts variable operating expenses to reflect what they would be at a specified occupancy level (typically 95%). The gross-up only applies to expenses classified as variable. Fixed expenses pass through at actuals. Getting this classification wrong has a direct financial impact.

Expense Category	Correct Classification	Why It Matters
Janitorial / cleaning	Variable	Scales with occupied area
Common area utilities	Variable	Usage increases with occupancy
Management fees (% revenue)	Variable	Revenue-linked; occupancy-dependent
Security (staffed posts)	Partial (split)	Minimum coverage is fixed; extra shifts scale
Property taxes	Fixed	Set by assessors; not occupancy-dependent
Insurance premiums	Fixed	Contract-based; does not vary with occupancy
Landscaping/snow removal	Fixed	Contracted at a fixed scope
Elevator maintenance	Fixed	Flat-fee service agreements

Pro Tip: When occupancy varied by more than 5 percentage points during the recovery year, use Economic Occupancy (weighted average) rather than Physical Occupancy (period-end snapshot)

in your recovery pool setting

Best Practice 3: Set the Right Pro-Rata Share Denominator

A tenant's pro-rata share equals their leased square footage divided by the denominator. That denominator is not always the same number across leases, and Yardi will not alert you when it diverges from the lease definition. Common denominator definitions include:

• Total rentable building area (RSF) — the most common definition in office and industrial leases; produces stable pro-rata shares over time.

• Total leasable area — excludes common areas from the denominator; more tenant-favourable and results in higher individual shares.

• Occupied area — denominator shrinks with vacancies, which can increase each tenant's share and lead to disputes; requires annual review.

• Custom denominators for segmented recoveries — required for multi-building or multi-zone properties. Must be tied to correct date ranges.

Best Practice 4: Configure Caps, Minimums, and Base Years Precisely

Among all lease-level configurations, expense caps and base year setups generate the most reconciliation disputes. Two configurations that seem similar can produce very different results over a multi-year period.

Caps

Yardi Voyager supports multiple cap types. The critical distinction is between non-cumulative (each year's increase is capped independently) and cumulative (the total increase from the base year is capped). Always verify the cap type against the lease language before configuration. Caps can increase annually via fixed percentages, CPI indexation, or actual expense increases.

Base Years and Base Amounts

A base-year configuration means the tenant pays only for expenses that exceed those incurred in the designated base year. When base-year actuals are restated after an audit, the stored base amount must be updated manually a step that is frequently overlooked.

Gross-Up Threshold Overrides

When different tenants have different gross-up thresholds in their leases, or some have no gross-up clause at all, Voyager allows tenant-level overrides at the recovery billing record. These overrides must be set individually and are easy to miss during initial configuration.

Best Practice 5: Leverage Advanced Features for Complex Portfolios

Segmented Recoveries

For mixed-use assets or multi-building properties, Voyager's segmented recovery functionality reconciles expenses at the sub-property level using custom denominators tied to specific buildings, floors, or zones. This ensures that each tenant population contributes only to costs relevant to their space.

Anchor Deductions (Retail)

In regional and community retail centers, anchor tenant expenses and their square footage are typically excluded from the inline tenants' pro-rata share calculations. Yardi Voyager's anchor deduction feature handles this automatically when configured correctly. Inline tenant lease-specific exclusions from the anchor deduction benefit must be set at the lease level, not the pool level.

Advanced Recoveries (Cost Distribution via Wildcards)

For portfolios where specific GL accounts require different calculation rules without separate expense pools, Voyager's Advanced Recoveries module supports wildcard-based GL matching (asterisk or @ notation). Particularly useful for HVAC, metered utility, or separately-metered unit charges within a standard recovery framework.

Best Practice 6: Build a Pre-Reconciliation Validation Routine

The most effective quality-control step is running Yardi Voyager's Data Validation Analytics tool before initiating any reconciliation batch. This tool automatically flags:

• Duplicate charge codes assigned to both estimate and reconciliation billing, causing double-posting at year-end.

• Overlapping expense pools where GL accounts are mapped to more than one active pool, causing double-counting.

• Missing area figures null or zero tenant/denominator values that silently set pro-rata shares to zero and suppress recovery billings.

• Inactive lease recovery types profiles attached to leases no longer producing estimates after a lease amendment.

Essential year-end reports:

Yardi Report	What It Catches	When to Run
Recovery Reconciliation Audit	Estimate vs. actual by tenant, pool, GL	Before finalizing the reconciliation batch
Expense Recovery / Leakage Report	Unrecovered expenses absorbed by the landlord	After reconciliation, before billing
Recovery Accruals Report	Projected true-up amounts for accrual posting	Monthly or quarterly
Data Validation Analytics	Config errors: duplicate codes, overlapping pools	Before every reconciliation run

Best Practice 7: Update Estimates After Each Reconciliation

Monthly recovery estimates should reflect the most current expense actuals or approved budget figures, not prior-year amounts. After completing a reconciliation in Voyager, navigate to Lease Administration > Recoveries > Recovery Estimate, enter the property code, set the effective date for the new estimate, and recalculate using prior-year actuals or current-year budget.

Pro Tip:

For tenants with caps or minimums, run a prospective cap calculation before updating estimates to confirm the new estimate does not exceed (or fall below) the contractual threshold.

Billing an estimate that will be capped at reconciliation creates unnecessary tenant communication and credit processing.

Frequently Asked Questions

What is a CAM recovery in Yardi Voyager?

CAM recovery is the process by which a commercial landlord bills tenants for their proportionate share of recoverable property operating expenses, such as CAM, taxes, and insurance. Tenants pay monthly estimates during the year, and the system performs a year-end reconciliation (true-up) comparing actual expenses to estimates, resulting in either a charge or a credit to each tenant.

What is the difference between a Recovery Group and an Expense Pool in Yardi?

A Recovery Group is the high-level category (e.g., CAM, Real Estate Tax, Insurance) that organizes the bundling of expenses for billing. An Expense Pool sits beneath a Recovery Group and maps to specific GL accounts. When Yardi runs a recovery calculation, it sums the actual expenses posted to the mapped GL accounts. It allocates the total to tenants based on their pro-rata share and recovery profile rules.

How does gross-up work in Yardi Voyager CAM recoveries?

Gross-up adjusts variable operating expenses upward to what they would have been if the building were at a specified occupancy threshold (commonly 95%). Only expenses classified as 'variable' in the Expense Pool are subject to gross-up; fixed expenses, such as property taxes and insurance, pass through at actuals.

What is the most common source of CAM reconciliation errors in Yardi?

The most frequent sources are: GL accounts not mapped to any expense pool (excluding expenses from the recovery calculation); variable/fixed expense misclassification (causing over- or under-gross-up); and cap type mismatches (non-cumulative vs. cumulative caps). The Data Validation Analytics tool in Voyager automatically catches many of these issues.

How should custom denominators be managed when they need to change?

When a custom denominator's composition changes, create a new custom denominator effective as of the change date, rather than editing the existing one. Editing an existing denominator rewrites history and can corrupt prior-year calculations.

Need Expert Help With CAM Recovery Setup in Yardi?

Assetsoft has implemented and optimized Yardi Voyager's recovery module for commercial portfolios across Canada, the US, and Australia. Whether you're doing a first-time implementation,

cleaning up a legacy configuration, or preparing for a large-scale year-end reconciliation, our Yardi-Experienced consultants can help.

Visit www.assetsoft.biz to speak with a Yardi Recovery Specialist.

Get Started Now

Where AI Meets Real Estate: Why YASC Toronto 2025 Is Your Gateway to the Future of Property Management

Tue, 30 Sep 2025 03:47:06 -0500

The property management industry stands at a pivotal crossroads. As artificial intelligence reshapes every corner of the business world, real estate professionals face a critical question: How can we harness AI's transformative power while maintaining the human touch that defines excellent property management? The answer awaits at YASC Toronto 2025, where Yardi Virtuoso takes center stage as the industry's most comprehensive AI platform.

The AI Revolution Has Arrived in Property Management

Gone are the days when AI in real estate was merely a futuristic concept. Today, forward-thinking property managers are deploying intelligent agents that handle everything from maintenance coordination to financial reconciliation, vendor invoice processing to regulatory compliance. At YASC Toronto, attendees won't just hear about these possibilities – they'll see them in action, touch the interfaces, and gain a clear understanding of how AI agents can transform their daily operations.

Yardi Virtuoso represents more than just another software upgrade. It's an intelligent, human-centered AI layer woven throughout the entire Yardi ecosystem. By leveraging machine learning, generative AI, and large language models, Virtuoso doesn't replace your existing tools – it supercharges them. Imagine maintenance technicians who can photograph a broken fixture and instantly receive AI-powered repair recommendations. Picture leasing agents who arrive at every tour with AI-generated summaries of all previous prospect interactions. These aren't distant dreams; they're demonstrations you'll experience firsthand at YASC Toronto.

Building Custom AI Agents: Your Competitive Edge

What sets YASC Toronto apart is the opportunity to learn how to create and customize AI agents specifically for your property management needs. The event's hands-on workshops will guide attendees through the Virtuoso Marketplace – the industry's first platform for finding and deploying production-ready AI agents designed by real estate experts and independent consultants.

During dedicated sessions, you'll discover how to build AI agents that address your unique challenges. Need an agent that automatically processes and categorizes maintenance requests in multiple languages? Want to create a custom workflow that handles your specific vendor approval process? YASC Toronto's expert-led demonstrations will show you exactly how to make it happen. You'll learn to deploy intelligent agents through Virtuoso Central, manage role-specific agents for different team members, and scale these solutions across your entire portfolio.

The beauty of Yardi's approach lies in its flexibility. Through Virtuoso Connectors, you can securely connect real-time Yardi data with leading language models, such as Claude, to create AI solutions that understand your specific business context. This isn't generic AI – it's intelligence infused with your actual operational data, respecting all existing security permissions and compliance requirements.

Real-World Success Stories and Live Demonstrations

YASC Toronto transforms abstract AI concepts into tangible results through live demonstrations and real-world case studies. Watch as AI agents process work orders using natural language understanding, automatically suggesting probable causes and recommended fixes based on vague resident complaints. See how Smart AP streamlines invoice management with AI-powered automation that flags items as "Virtuoso Verified" or "Virtuoso Warning" – complete with explanations that empower informed decision-making.

The event's demonstration zones will showcase RentCafe Chat IQ in action, handling simultaneous conversations across chat, text, email, and voice channels. You'll witness how AI maintains a consistent brand voice while providing 24/7 assistance to prospects and residents. These aren't simulations – they're live systems processing real scenarios that mirror the challenges you face every day.

Your Roadmap to AI Implementation

Beyond the technology showcases, YASC Toronto provides a structured pathway for AI adoption in your organization. Industry leaders will share implementation strategies, discussing how they've achieved up to 70% reduction in manual tasks while maintaining – even improving – service quality. You'll learn about the critical balance between AI efficiency and human expertise, understanding how to position AI as an empowerment tool rather than a replacement threat to your teams.

The conference offers exclusive access to Yardi's product development teams and AI specialists. This direct connection allows you to influence future features, understand the product roadmap, and ensure your specific needs are addressed in upcoming releases. You'll leave with not just knowledge, but actionable plans for deploying AI agents that can increase NOI, improve resident satisfaction, and give you a decisive competitive advantage.

Don't Just Witness the Future – Create It

YASC Toronto 2025 isn't just another conference – it's where the future of property management takes shape. In an industry where efficiency gains directly impact bottom lines, the organizations that master AI implementation today will dominate tomorrow's market. Whether you're managing residential communities, commercial properties, or mixed-use developments, the AI agents and workflows you'll discover at YASC Toronto can transform your operations within months, not years.

Register now to secure your place at the epicenter of property management innovation. The future isn't waiting, and neither should you.

Get Started Now

YASC Canada 2025: Innovation Meets Excellence in Canadian Real Estate Technology

Thu, 25 Sep 2025 04:28:36 -0500

Mark Your Calendar:The Premier Property Management Event Returns to Canada

The Yardi Advanced Solutions Conference (YASC) is coming to Canada, bringing together the nation's leading property management professionals for an unparalleled showcase of innovation, learning, and networking opportunities. YASC Canada represents the premier gathering for Yardi clients and industry consultants across the Canadian market.

What to Expect at YASC Canada 2025

YASC connects property managers, owners, operators, and investors throughout Canada with cutting-edge software solutions designed to drive growth and innovation. This year's conference promises to deliver:

Comprehensive sessions covering the latest property management innovations tailored for Canadian markets
One-on-one consultations with Yardi solution experts at Knowledge Central
Hands-on training with Yardi's latest software releases and platform updates
Exclusive networking opportunities with industry peers across Canada
Free registration for all Yardi clients

Yardi Virtuoso: AI Revolution Reaches Canada

Confirmed Virtuoso Capabilities for Canadian Markets:

Maintenance Operations Excellence: Virtuoso delivers intelligent insights into work order causes and suggests optimal solutions. Maintenance technicians can capture images and receive real-time recommendations, dramatically improving response times and tenant satisfaction.

Invoice Processing Automation: The platform reviews purchase orders and invoices with precision, providing "Virtuoso Verified" or "Virtuoso Warning" labels with detailed reasoning. This automation saves countless hours of manual review while reducing operational risk.

Innovative Procurement Solutions: Revolutionary procurement capabilities allow teams to photograph any needed item and automatically search property-specific Yardi Marketplace catalogs, streamlining the entire procurement process.

Enhanced Lead Management: Streamline tour preparation with comprehensive prospect engagement summaries and AI-generated follow-ups, optimizing conversion rates across your portfolio.

Virtuoso Assistant: An intelligent AI chatbot that accesses real-time data from your complete Yardi ecosystem to answer questions and generate comprehensive reports instantly.

Leadership Transition: New Era for Yardi

Adding excitement to YASC Canada 2025 is the recent announcement that Rob Teel will serve as the new CEO of Yardi Systems starting in January 2026. Teel, a 22-year veteran at the firm, initially worked with multifamily clients and has led its global solutions business for the past 15 years. This leadership transition signals Yardi's continued commitment to innovation and client success.

Founder Anant Yardi will transition to the role of chairman, while remaining actively engaged in special projects and advising the leadership team. As he noted during the announcement, "The next decade is going to be just as exciting, just as interesting, as any one of the previous decades".

Building on Voyager 8 Integration

YASC Canada will showcase the powerful integration between Virtuoso and Yardi Voyager 8, the next generation of Yardi's flagship property management solution. Built for AI using the Virtuoso infrastructure, Voyager 8 promises a continual opportunity for clients to achieve heightened efficiency and smoother operations.

Why Canadian Property Managers Should Attend

Knowledge Central Access Throughout YASC, Knowledge Central provides Canadian attendees with direct access to Yardi specialists for:

Comprehensive product demonstrations
Technical troubleshooting and support
Implementation strategy guidance
Best practice discussions tailored to Canadian regulations and markets

Strategic Networking Opportunities Connect with property management professionals from coast to coast, share insights about regional challenges, discuss market trends, and explore potential partnerships within the Canadian real estate landscape.

Canadian Market Focus YASC Canada addresses the unique needs of Canadian property managers, including compliance with provincial regulations, bilingual requirements, and regional market dynamics.

Assetsoft's Virtuoso Certification Advantage

Proudly Yardi Virtuoso Certified

Assetsoft has achieved official Yardi Virtuoso certification, positioning our team as expert guides for Canadian clients navigating this AI revolution. Our certification ensures we can provide:

Expert guidance on Virtuoso implementation strategies
Best practices for maximizing AI-driven efficiency gains
Customized solutions that align with Canadian market requirements
Ongoing support throughout your Virtuoso journey

How Assetsoft Supports Canadian Clients at YASC

Our team will be present at YASC Canada 2025 to provide specialized support for Canadian property managers:

Virtuoso Implementation Planning: Understanding how AI applications can transform your specific operations
Technology Roadmap Development: Strategic planning for your Yardi technology evolution
ROI Optimization: Maximizing returns on your existing Yardi investments
Regulatory Compliance: Ensuring AI implementations meet Canadian regulatory requirements

Registration and Next Steps

Secure Your Spot Today

Registration: Free for all Yardi clients
Processing Time: Allow 1-3 business days for registration approval
What's Included: Access to all sessions, Knowledge Central consultations, networking events, and exclusive Canadian content

Plan Your YASC Experience

Review the complete agenda when released
Identify sessions most relevant to your portfolio needs
Schedule one-on-one consultations with Yardi experts
Prepare specific questions about your current operational challenges

YASC Canada 2025 represents a pivotal moment for Canadian property management professionals. With Virtuoso's AI capabilities, new leadership direction, and Assetsoft's certified expertise, Canadian property managers have unprecedented opportunities to transform their operations and achieve new levels of efficiency.

Don't miss this exclusive opportunity to be at the forefront of real estate technology innovation in Canada.

Get Started Now

YASC Sydney 2025: Your Gateway to Real Estate Technology Innovation in ANZ

Wed, 13 Aug 2025 11:48:04 -0500

Mark Your Calendar: September 10-11, 2025, at Hilton Sydney

The Yardi Advanced Solutions Conference (YASC) returns to Sydney this September, bringing together property management professionals from across Australia and New Zealand for two days of innovation, learning, and networking. YASC Sydney is the premier event for Yardi clients and consultants in the region.

What to Expect at YASC Sydney 2025

YASC connects property managers, owners, operators, and investors in Australia and New Zealand with software solutions that help them grow and innovate. The conference features:

50+ classes, roundtables, and spotlight sessions covering the latest property management innovations
One-on-one consultations with Yardi solution experts at Knowledge Central
Hands-on training with Yardi's latest software releases
Exclusive entertainment and social events for networking with industry peers
Free registration for all Yardi clients

Yardi Virtuoso: AI Innovation for ANZ Markets

Following the global rollout of Yardi Virtuoso, YASC Sydney 2025 will showcase how this AI platform is transforming property management operations across Australia and New Zealand.

Confirmed Virtuoso Capabilities:

Maintenance Operations: Virtuoso delivers insight into work order causes and suggests solutions. Maintenance technicians can capture images and receive real-time recommendations.

Invoice Automation: The platform reviews purchase orders and invoices, providing "Virtuoso Verified" or "Virtuoso Warning" labels with reasoning, saving hours of manual review.

Innovative Procurement: Take a photo of any item needed to search for property-specific Yardi Marketplace catalogs automatically.

Lead Management: Streamline tour preparation with prospect engagement summaries and AI-generated follow-ups.

Virtuoso Assistant: An AI chatbot that pulls real-time data from your Yardi stack to answer questions and generate reports.

Building Last Year's Momentum

YASC Sydney 2024 introduced significant updates to the ANZ market, including deeper dives into Voyager 8 and Yardi Data Connect. This year's conference will build upon these foundations with enhanced features and new integrations tailored for regional requirements.

Yardi Data Connect for ANZ

Yardi Data Connect allows seamless exposure of Voyager data to business intelligence platforms, enabling integration with tools like Power BI and Tableau. This ensures critical data accessibility for advanced analytics and real-time KPI monitoring.

Industry Buzz: Major Announcement Expected

Rumors are circulating that there will be a massive announcement at YASC 2025. While details remain under wraps, the anticipation adds another layer of excitement to the Sydney event.

Why ANZ Property Managers Should Attend

Knowledge Central

Open throughout YASC, Knowledge Central provides direct access to Yardi staff for:

Product demonstrations
Software troubleshooting
Implementation guidance
Best practice discussions

Networking Opportunities

Connect with property management professionals from across the region, share insights, discuss challenges, and explore potential partnerships.

Practical Information

Event Details:

Dates: September 10-11, 2025
Location: Hilton Sydney
Registration: Free for all Yardi clients
Processing Time: Allow 1-3 business days for registration approval

What's Included:

Access to all sessions and Knowledge Central
Networking events and entertainment
Direct access to Yardi experts
Class materials and resources

How Assetsoft Can Help

Assetsoft will be present at YASC Sydney 2025 to support ANZ clients with:

Understanding Virtuoso's practical applications for your portfolio
Navigating Yardi's evolving technology landscape
Maximizing your Yardi investment
Implementation strategy planning

Our team understands the unique challenges of the ANZ property market and can help you leverage Yardi's technology to address local requirements while maintaining global best practices.

Registration and Next Steps

Register Now: Secure your free spot at yardi.com/yasc/australia-new-zealand
Review the Agenda: The 2025 class list is available online
Plan Your Schedule: Choose from 50+ sessions tailored to ANZ markets
Book Consultations: Schedule time with Yardi experts at Knowledge Central

Travel Arrangements

Venue: Hilton Sydney Note: Yardi is not responsible for hotel reservations or cancellations. All hotel arrangements must be made directly with the hotel, with cancellations required at least 72 hours before check-in.

Get Started Now

YASC 2025 San Diego: Yardi's AI Platform Virtuoso Takes Center Stage

Wed, 13 Aug 2025 10:21:04 -0500

Return to San Diego for Innovation and Insights

The Yardi Advanced Solutions Conference (YASC) returns to San Diego September 3-5, 2025, bringing together a select group of property management professionals for three days of learning, networking, and technology innovation. Join us September 3-5 for an exclusive opportunity to gain insights, connect with industry leaders, and enjoy live entertainment.

What's Confirmed for YASC 2025

YASC is the premier event for Yardi clients and consultants. This year's conference features:

250+ classes, spotlight sessions, panels, and roundtables
Yardi executives and experts sharing insights on trends, innovations, and what's next in AI
1:1 product overviews and software support at Knowledge Central
Endless opportunities to connect at the Networking Reception and Lounge
The legendary Yardi Party

Yardi Virtuoso: AI Platform Now in Full Deployment

Yardi announces the release of Yardi® Virtuoso, a multifaceted platform built to shape the future of artificial intelligence (AI) in real estate. The platform has evolved significantly since its initial announcement.

What Virtuoso Does (According to Yardi)

Virtuoso uses machine learning, generative AI, natural language, and large language models to automate human tasks without sacrificing the customer experience.

Confirmed Capabilities from Yardi's Official Announcements:

Maintenance Management: Virtuoso delivers insights into work order causes and suggests solutions, enabling quick issue resolution. Maintenance technicians can capture images, receive real-time recommendations, and use AI to create follow-ups, improving customer satisfaction.
Invoice Processing: Virtuoso reviews purchase orders and invoices, recommending approval or further review with a "Virtuoso Verified" or "Virtuoso Warning" label, along with reasons for the recommendation. This saves hours of manual effort while also reducing risk.
Procurement Automation: Dramatically streamline the procurement process by taking a photo of the needed item to search for property-specific Yardi Marketplace catalogs automatically.
Lead Management: Simplify lead management by easily reviewing, assigning, or inactivating leads—Virtuoso streamlines tour preparation by providing simple summaries of prospect engagement.

Virtuoso Assistant: Virtuoso Assistant is an AI chatbot that pulls real-time data from your Yardi stack to answer questions, generate reports, provide intelligent recommendations, and more.

Integration with Voyager 8

Yardi also recently announced the release of Yardi Voyager® 8, the next generation of the technology leader's flagship property management solution. Built for AI using the Virtuoso infrastructure, Voyager 8 promises a continual opportunity for clients to achieve heightened efficiency and smoother operations.

The Virtuoso App: Now Available

At the most recent Yardi Advanced Solutions Conference (2024), Yardi announced significant enhancements to its AI platform, Yardi Virtuoso, designed to drive efficiently for the real estate industry.

According to Akshai Rao, president of residential at Yardi: "We are excited to launch the Virtuoso App, which thoughtfully integrates AI into day-to-day workflows to help users excel from day one of the job."

Industry Buzz: Major Announcement Expected

Rumors are circulating that there will be a groundbreaking announcement at YASC 2025. While details remain under wraps, the anticipation adds another layer of excitement to an already packed agenda. Get ready to be part of this historic moment in the real estate technology industry.

Why YASC 2025 Matters for Property Managers

YASC 2025, with over 5,000 of your peers expected to attend, represents the largest gathering of Yardi users and real estate technology professionals in North America. This is a unique opportunity to network, learn from industry leaders, and gain insights that can significantly impact your property management strategies.

Key Benefits of Attending:

Direct access to Yardi product experts for personalized consultations
Hands-on experience with the latest Virtuoso features
Peer-to-peer learning from successful implementations
Early insights into upcoming product releases

Practical Next Steps

Register Now: Secure your spot for September 3-5, 2025, at the San Diego Convention Center
Plan Your Sessions: Review the 250+ class offerings when the schedule is released
Book Consultations: Schedule 1:1 meeting with Yardi experts at Knowledge Central
Prepare Questions: Document current operational challenges to discuss with specialists

About Assetsoft at YASC

Assetsoft will be present at YASC 2025 to help clients navigate Yardi's evolving technology landscape. Our team can assist with:

Understanding Virtuoso's practical applications for your portfolio
Planning implementation strategies
Maximizing your existing Yardi investment

For more information about YASC 2025 and how AssetSoft can support your Yardi implementation, visit
www.assetsoft.biz

Event Details:

Date: September 3-5, 2025

Location: San Diego Convention Center & Hilton San Diego Bayfront

Registration: Available at yardi.com/yasc

Get Started Now

Celebrating Innovation: The Biggest PropTech Trends We Contributed to in 2024

Tue, 17 Dec 2024 09:00:01 -0500

As the festive season brings reflection, we at Assetsoft are proud to reflect on a year of innovation, growth, and meaningful contributions to PropTech. The real estate industry continues to undergo rapid transformation, and 2024 has been a pivotal year for adopting cutting-edge technologies. These trends are not just about innovation but the tangible benefits they bring to the industry. Here’s how Assetsoft helped shape some of the biggest PropTech trends and what the future holds for the industry.

1. Automation and AI: Redefining Real Estate Operations

This year, we witnessed a remarkable surge in using artificial intelligence (AI) and robotic process automation (RPA) to streamline real estate operations. Assetsoft has been at the forefront of this revolution, introducing solutions that have significantly impacted our clients' operations:

Automated Lease Abstraction: Using AI to extract key details from leases saves clients countless hours and reduces errors.
Smart AP Coding and Reconciliation: Leveraging RPA for accurate and efficient bank reconciliation and accounts payable processes.
Conversational Analytics: Introducing AI-powered chatbots that enable users to “speak” to their data, making complex insights accessible and actionable.

While these innovations have revolutionized efficiency, they also raise ethical considerations. At Assetsoft, we understand the importance of ethical AI. We have incorporated rigorous checks and balances into every solution to ensure transparency in AI decision-making and avoid biases in algorithms, reassuring our clients about the responsible use of technology.

2. Sustainability and Energy Efficiency in PropTech

The intersection of technology and sustainability has been another defining trend of 2024. With a focus on sustainable practices, Assetsoft has worked with clients to:

Adopt Smart Building Technologies: Implement IoT devices to monitor energy consumption, optimize HVAC systems, and reduce carbon footprints.
Enable Green Certifications: Use data analytics to track and report sustainability metrics, helping properties achieve certifications like LEED and BREEAM.

However, as data centers grow to support PropTech applications, energy consumption forecasts are becoming a pressing concern. Studies predict that global data center energy use could double by 2030. This underscores the need for renewable energy integration and energy-efficient practices in data management, something we’re already advocating with our clients.

3. The Rise of Data-Driven Decision Making

Data has become the backbone of modern real estate strategies. In 2024, we helped clients harness the power of tools like Power BI and advanced analytics to:

Predict Market Trends: Use predictive analytics to anticipate market shifts and inform investment decisions.
Optimize Property Performance: Provide real-time dashboards for asset management, ensuring properties operate at peak efficiency.

The ethical management of data remains a critical area of focus. Protecting sensitive client information while leveraging data for actionable insights is a balancing act that requires vigilance, transparent policies, and robust security measures.

4. Digital Twins and Virtual Experiences

One of the most exciting developments this year has been the rise of digital twins—virtual replicas of physical properties. These have been instrumental in:

Improving Property Management: Offering real-time monitoring and predictive maintenance for buildings.
Enhancing Tenant Experiences: Allowing prospective tenants to take virtual tours or customize spaces before moving in.

As these technologies advance, considerations around digital privacy and secure data integration are becoming increasingly important. Assetsoft’s approach to digital twin projects includes advanced encryption and compliance with global data privacy standards, such as [specific standards or regulations]. This ensures that your data is secure and your privacy is protected.

What’s Next for PropTech?

As we look ahead, the real estate industry must prepare for some key challenges:

Ethical AI: Establishing global standards for responsible AI usage in real estate.
Sustainable Data Centers: Exploring renewable energy sources and energy-efficient designs for the growing demand for data centers.
Integration of Emerging Technologies: To unlock new possibilities, blockchain, 5G, and quantum computing will be incorporated into real estate applications.

The Path Forward

2024 has shown us the transformative potential of technology in real estate. From automating tedious processes to enhancing sustainability and leveraging data for strategic decision-making, PropTech is redefining the industry. But with great power comes great responsibility. As we celebrate these innovations, we must also commit to ethical practices, sustainability, and the thoughtful integration of new technologies.

AtAssetsoft, we’re excited to continue leading the way into 2025. Whether you’re looking to adopt AI, improve energy efficiency, or explore the possibilities of digital twins, we’re here to help you navigate the future of PropTech responsibly and effectively.

Get Started Now

Get Ready for Procore Groundbreak 2024 in Denver: Construction Innovation, Networking, and More!

Fri, 08 Nov 2024 09:00:00 -0500

Are you ready to be a #Groundbreaker? Procore’s annual user conference, Groundbreak 2024, is just around the corner. It will take place on November 20-21 at the exclusive Colorado Convention Center in Denver, Colorado. This event is not just another gathering but one of the construction industry's most anticipated, bringing together thousands of construction professionals, thought leaders, and technology experts under one roof to explore the latest advancements in construction tech.

Why Attend Groundbreak 2024?

Groundbreak offers unparalleled opportunities to learn, connect, and celebrate with industry peers. Here’s a taste of what to expect:

- Innovative Sessions & Demos: Discover the latest advancements in construction tech, with sessions covering everything from Building Information Modeling (#BIM) to ConTech innovations. Learn how these technologies can transform your construction processes and improve efficiency.

- Networking Opportunities: We’ll host a booth where you can come by, say hello, and learn more about our services. Connect with us to discuss how we can customize and optimize your #Procore environment for your unique business needs. Don’t miss the official Networking Reception in the Expo Hall on Wednesday, November 20, from 5:30 PM to 7:00 PM, where attendees can enjoy appetizers, drinks, and vibrant conversations.

- Groundbreak Bash: #Procore knows how to close a conference in style! Join us at the Groundbreak Bash at The Mission Ballroom on Thursday, November 21, from 7:00 PM to 10:00 PM. Get ready to celebrate the future of construction with cocktails, snacks, and a live performance by Grammy-winning artist Pitbull! This is the ultimate way to wrap up Groundbreak 2024 with a bang.

Visit Our Booth: Customization, Integrations & Automation Solutions

As a Procore implementation partner, we’re excited to bring our expertise to Groundbreak 2024. Stop by our booth to learn about the ways we can help streamline your construction management with Procore, including:

- Procore Customization: We tailor Procore setups to fit the specific requirements of your construction projects, ensuring that you get the most out of Procore’s powerful tools.

- Software Integrations: We specialize in integrating Procore with other essential software platforms, such as Zoho Books, MRI Software, and Wells Fargo's payment portal. Our seamless integrations help your workflows become more efficient and connected.

- Automation & AI Solutions: Imagine automating repetitive tasks to save time and improve accuracy. From Robotic Process Automation (RPA) to implementing AI-driven insights, we help clients leverage automation to increase productivity across all construction phases.

Don’t Miss Out – Join Us at Procore Groundbreak 2024!

Whether you’re a construction professional looking to advance your career, a company exploring the latest tech, or just eager to network with like-minded individuals, Groundbreak 2024 is the place to be. With sessions, networking, entertainment, and access to industry-leading solutions, this event offers a comprehensive look at where construction tech is headed.

Join us for this groundbreaking experience. Swing by our booth to chat about how we can help you optimize Procore for maximum impact on your construction projects. We look forward to meeting you in Denver!

For more information on the event, check out Procore Groundbreak.

Get Started Now

What to Expect at YASC Canada 2024: A First-of-Its-Kind Event in Toronto | Assetsoft

Thu, 07 Nov 2024 09:00:00 -0500

For the first time, Yardi is bringing the YASC experience to Toronto! YASC Canada 2024 will be held on November 13–14, 2024, at the Sheraton Centre Toronto Hotel, 123 Queen St W, Toronto, ON, and we couldn't be more excited. This marks a significant milestone as Yardi brings its knowledge and expertise to Canada, tailoring this event specifically to the needs of the Canadian real estate market.

Why This Event Is a Game-Changer for Canadian Real Estate

Unlike previous YASC events in San Diego, YASC Canada is dedicated to addressing the unique requirements of Canadian property management professionals. This is more than just an exploration of the latest features in Voyager 8—attendees will also gain insights into Canadian-specific modules, features, and regulations. For property managers, investors, and real estate professionals in Canada, this event is an unparalleled opportunity to see how Yardi's technology solutions align with Canadian regulations and operational demands.

Highlights of YASC Canada 2024

1. Voyager 8: The Latest in Property Management Innovation

Voyager 8 has set a new standard in property management software, and attendees at YASC Canada will get an in-depth look at its latest updates and functionalities. Voyager 8 offers a more intuitive interface, expanded functionality, and integration capabilities, making property management more accessible and efficient. If you still need to explore Voyager 8's offerings, this event provides the perfect opportunity to see its impact.

2. Canadian Market-Specific Modules and Features

Canada's real estate market has unique regulatory and operational requirements, and Yardi has designed features within Voyager that address these needs directly. Here's a look at some of the Canada-specific features that will be highlighted:

- Ontario Rent Control: With stringent rent control regulations in Ontario, property managers need a system that can ensure compliance and streamline processes. Voyager's Ontario Rent Control feature helps automate these tasks, reducing manual work and potential compliance issues.

- Canadian Social Housing Module: Social housing is a critical part of the Canadian market, and Yardi's social housing module provides tools to manage subsidy calculations, waitlists, and eligibility criteria, all designed specifically for Canada's unique housing sector.

- Deposit Interest Tracking: Managing tenant deposits in Canada requires precise tracking, especially when calculating deposit interest. Yardi's deposit interest feature automates this process, ensuring all deposits comply with Canadian requirements.

- Tax Compliance for GST and Input Tax Credit: Voyager 8 includes tools for managing Canadian tax codes, including Goods and Services Tax (GST) and Input Tax Credits (ITC). These features streamline tax compliance, making it easier for property managers to manage taxes accurately within the Voyager system.

3. Leveraging Data with Yardi Data Connect

YASC Canada will showcase Yardi Data Connect, a powerful tool that allows property managers to integrate Voyager data directly with business intelligence tools like Power BI and Tableau. Property managers can analyze and visualize data specific to Canadian regulations and market trends, providing deeper insights into operations and performance. This capability is invaluable for organizations that want to harness data-driven decision-making to stay competitive in Canada's evolving real estate market.

4. Networking with Canadian Real Estate Professionals

One of the most valuable aspects of YASC Canada is the unique opportunity it provides to connect with other industry professionals. This is an ideal platform to meet like-minded individuals, share experiences, and build professional relationships that could lead to future collaborations. As Canada's first YASC event, attendees will be part of a community focused on elevating the Canadian real estate market through technology, fostering a sense of belonging and shared purpose.

Why Assetsoft Is Attending YASC Canada

At Assetsoft, we're committed to helping our clients leverage Yardi's technology to its fullest potential. Our team will be attending YASC Canada and will be ready to discuss how we can support Canadian clients with Yardi implementations, integrations, and optimizations tailored to Canadian regulations. Whether ensuring compliance with rent control laws or optimizing social housing operations, we're here to help Canadian organizations navigate these complex requirements.

Please chat with us at YASC Canada to learn more about how we're embracing Yardi's technology innovations and supporting real estate management across Canada.

Join Us at YASC Canada 2024 for a Deep Dive into Canadian Property Management Technology! This event is a unique opportunity to learn, connect, and explore the latest in property management innovation. We're excited to share this experience with you and look forward to seeing you there!

This inaugural YASC event in Toronto is not just about learning the latest in Voyager 8—it's about understanding how these tools can transform Canadian real estate operations. By attending, you'll gain practical insights and strategies that can enhance your organization's operations. Don't miss out on this unique opportunity to connect, learn, and see how Yardi's Canadian-focused innovations can benefit your business. We look forward to seeing you there!

Get Started Now

Streamline Lease Management for Lessees with Yardi Corom

Tue, 05 Nov 2024 08:17:21 -0500

For lessees, managing multiple leases across various landlords, properties, and equipment can quickly become complex and time-consuming. As your business expands, so does the number of leases you have to track, and managing rent schedules, compliance requirements, and operational tasks becomes increasingly challenging. This is where Yardi Corom comes in—a comprehensive solution designed specifically to help lessees centralize and streamline their lease management processes, empowering you to take control and confidently manage your leases.

This blog will explore lessees' core challenges and how Yardi Corom can simplify lease administration. We’ll also highlight why working with a Yardi consultant for implementation and support can ensure a smooth experience and maximize the benefits of this powerful tool.

Key Challenges Faced by Lessees

When managing leases as a lessee, the complexities go beyond paying rent. Lessees must deal with multiple landlords, equipment rental agreements, varying lease terms, and ensuring compliance with financial reporting standards. Here are some of the primary challenges:

1. Tracking Multiple Leases: With leases spanning different properties and landlords, keeping track of rent due dates, payment schedules, and lease obligations can be overwhelming. It’s easy to lose sight of essential renewal dates, leading to financial penalties or missed opportunities.

2. Expense Management: Lessees must monitor rent expenses, operational costs, and maintenance fees across multiple leases. Without a transparent system, seeing total leasing expenses and allocating budgets effectively is challenging.

3. Compliance with Reporting Standards: Complying with financial reporting standards such as FASB ASC-842 and IFRS 16 requires a detailed and accurate record of all lease agreements, terms, and obligations. This compliance is crucial for accurate financial reporting but can be challenging to maintain without the right tools. Yardi Corom offers peace of mind by ensuring compliance with these standards, making you feel secure and reassured about your financial reporting.

4. Maintenance and Facilities Management: Lessees must maintain leased spaces and equipment. However, keeping track of maintenance schedules, work orders, and inspections can be difficult, especially when dealing with multiple properties and landlords.

5. Payment Automation: Ensuring that all rent payments and equipment lease fees are made on time is critical to avoiding late fees and maintaining good relationships with landlords. However, managing these payments manually across different leases can lead to errors and inefficiencies.

How Yardi Corom Can Help Lessees

Yardi Corom is an advanced platform designed to help lessees overcome these challenges by centralizing all aspects of lease management into one unified solution. Whether you’re leasing commercial spaces or equipment, Yardi Corom streamlines the entire process, helping you stay organized and compliant.

Here’s how Yardi Corom can improve your lease management:

1. Centralized Lease Management: For lessees managing multiple properties and equipment leases, Yardi Corom is a central hub, consolidating all lease data into a single platform. This gives you complete visibility into lease terms, payment schedules, and renewal dates across all your leases, whether with a single landlord or multiple property owners.

2. Expense and Budget Tracking: Yardi Corom allows lessees to track rent payments, maintenance fees, and other expenses in one place, helping you stay on top of your leasing costs. This feature also supports better budget allocation, enabling you to optimize spending and control costs across multiple leases.

3. Compliance with FASB ASC-842 and IFRS 16: Financial compliance is critical for lessees, especially with global reporting standards like FASB ASC-842 and IFRS 16. Yardi Corom simplifies this process by automatically capturing the required data and generating reports that meet these regulatory requirements. This reduces the burden on your accounting team and ensures accuracy in financial reporting.

4. Facilities and Maintenance Management: Yardi Corom helps lessees maintain leased properties and equipment. The platform tracks work orders, schedules inspections, and ensures preventative maintenance is performed on time. This leads to better operational efficiency and less downtime for leased assets.

5. Automated Rent Payments and Invoicing: Yardi Corom automates rent payments and equipment lease invoicing, reducing the risk of late fees and payment errors. The platform also handles subleases, making tracking payments and revenue from subletting spaces or equipment easy. This feature saves time and ensures accuracy and consistency in your financial transactions.

Why You Need a Yardi Consultant for Implementation and Support

While Yardi Corom is a powerful tool, proper Yardi implementation and ongoing yardi support are essential to ensure you get the most out of the platform. A Yardi consultant, a professional with extensive knowledge of Yardi Corom and lease management, can tailor the system to meet your business's unique needs, streamline workflows, and provide ongoing technical support.

Key Benefits of Working with a Yardi Consultant:

• Tailored Implementation: A Yardi consultant will customize Yardi Corom to align with your specific lease management processes, ensuring a smooth transition.

• Ongoing Support: From troubleshooting issues to optimizing system performance, Yardi consultants provide continuous support to ensure efficient platform use.

• Expert Guidance: With extensive knowledge of lease management and compliance requirements, Yardi consultants can help you navigate complex regulations and seamlessly integrate Yardi Corom into your existing operations.

Conclusion: Simplify Your Lease Management with Yardi Corom

Managing leases as a lessee is no easy task, especially when dealing with multiple landlords, properties, and equipment. Yardi Corom is the ultimate solution for streamlining lease management, from automating payments to ensuring compliance with reporting standards. By centralizing your lease operations into one platform, Yardi Corom saves you time, reduces errors, and helps you manage costs more effectively.

Working with a Yardi consultant is essential to fully leveraging Yardi Corom's capabilities. Their expertise will ensure that your implementation is smooth and that you receive ongoing support to optimize the platform for your business.

Request a demo of Yardi Corom today and discover how it can transform your lease management processes as a lessee. Let Assetsoft’s trained Yardi consultants guide you through the implementation and support to maximize Yardi Corom's value for your business.

Get Started Now