Commercial property developer automates complicated calculations while improving invoice workflows and tenant service
SANTA BARBARA, Calif., Sept. 8, 2016 – Commercial property owner and manager Standard Properties Inc. will manage its complex leases more easily thanks to Yardi Voyager®, its new property management and accounting platform.
“Voyager’s automation will significantly reduce the resources required to administer triple net leases. The system also compares actual taxes with base rates, figures pro rata billings, manages tax pass-throughs and handles common area maintenance invoices, among other things—all of which we previously did manually,” said John W. Daniel, development executive for Standard Properties. “Voyager will help improve our bottom line by allowing us to manage more triple net leases.”
Citing additional Yardi Voyager benefits, Daniel said, “We wanted to make lease information available to more employees. Voyager allows that with an intuitive system that we previously lacked. Voyager can also generate cash flow statements daily, so we don’t have to wait one or two months as we used to.”
Other new solutions built into Yardi Voyager will provide additional efficiency for Standard Properties, along with improved tenant service. “Yardi Procure to Pay™ will allow us to produce a digital stack of invoices for a common area maintenance pool with a few clicks,” Daniel said. “COMMERCIALCafé™ means we’ll have to process fewer paper checks every month,” Daniel said, referring to a solution that allows Standard Properties’ tenants to make online recurring payments.
“Yardi® recognizes that Standard Properties has made a big move in changing its platform for the first time in 16 years. We are pleased they have chosen Yardi Voyager, and we are looking forward to providing implementation assistance and ongoing support to help Standard Properties make a successful transition,” said Terri Dowen, senior vice president of sales for Yardi.
To learn how Yardi Voyager provides an end-to-end system for managing office, retail and industrial real estate, click here.
About Standard Properties Inc.
Founded in 1937, Washington, D.C.-based Standard Properties Inc. owns, develops and manages commercial real estate properties in the greater Washington Metropolitan and Richmond, Va., areas. Its property portfolio comprises a diverse mix of flex, light industrial, retail and office space encompassing 1.4 million square feet. For more information, visit www.standardproperties.com.
About Yardi
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information, visit www.yardi.com.