SANTA BARBARA, CALIF., June 16, 2009 – Yardi Systems, a leading developer of real estate investment and property management software, announced today that commercial property management firm Arcadia Management Group, Inc., has purchased Yardi Portal™ to expand its tenants’ rent payment options and enable online work orders. Arcadia and Yardi are collaborating to implement Portal quickly.
Portal will give Arcadia a significant competitive advantage among commercial property management companies. “Letting our tenants pay rent online by credit card or ACH will set us apart by giving our tenants another option for meeting their obligations in a difficult market,” said Gary Shaw, Arcadia’s president. “Many tenants prefer this option because they can take advantage of credit card reward programs, and it maximizes our cash flow with faster rent payment processing.”
He added, “Tenants will also be able to place work orders online, at their convenience. This will save them time and streamline the entire work order process for our staff.” Portal will also make Arcadia one of the few commercial management companies that enable tenants to manage their accounts online — they can view their ledgers, update their records, confirm that their payments were received, and check work order status.
Portal will further enhance the competitive advantage delivered by Yardi Voyager™, which Arcadia has used to manage its portfolio since 2005. “Voyager has had a tremendously positive impact on our business,” Shaw said. “To cite just one example, previously we tracked hundreds of tenant insurance certificates manually, a very labor-intensive process. Voyager tracks expiration dates and auto-generates reminder letters, in seconds. This automated process saves us 1-2 weeks of work per month.”
About Arcadia Management Group, Inc.
Arcadia Management Group, founded in 1986, is one of the West’s leading commercial property management firms, with more than 6.5 million square feet in its management portfolio. Arcadia Management Group creates value for you through innovative management techniques and by using its long-standing relationships with the most proven brokerage and leasing firms to secure top tenants for its clients’ buildings. The Phoenix-based company, with offices in Arizona, Nevada and California, has earned a reputation with institutional and individual property owners for its efficiency, integrity and responsiveness. For more information, visit www.arcadiamgmt.com.
About Yardi
For more than 25 years, Yardi Systems has been solely committed to the design, development, and support of real estate investment management and property management software. Recognized as an industry leader, Yardi continues to develop and deliver software and services with the highest dedication to responsiveness, quality, innovation, and customer focus. Yardi Systems has offices throughout Asia, Australia, Europe and North America. More information about Yardi products and services may be found by visiting www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255