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CLIENT SUCCESS STORY
Pennrose
Since 1971, Pennrose has improved the lives of working families by developing safe, vibrant housing communities. Its legacy includes the neighborhoods it enhances, the residents it serves, and the employees who uphold its core values. Pennrose holds a national reputation for excellence in real estate development and multifamily property management.
Before Voyager, it took 30-45 minutes to handwrite or type Tenant Income Certifications (TIC) and other HUD compliance forms. We can now complete a TIC in a couple of seconds with Voyager.
Sam Lopez
Director of Yardi Systems, Pennrose
Products featured
The benefits
Pennrose reduces tenant income certification time from 45 minutes to just seconds. With Yardi Voyager, the organization streamlines rent payment processing by eliminating manual data entry and duplicate work.
The company
Pennrose has a national reputation of excellence in real estate development and multifamily property management. Founded in 1971, Pennrose has a mission to improve the lives of working families by creating safe, secure housing communities. Pennrose has demonstrated an exceptional ability to develop and manage high-quality, affordable, conventional, mixed-income, mixed-use and master planned communities.
The challenge
Replacing outdated processes
Pennrose sought a core property management and accounting system that incorporated a strong compliance component. In the past, it took staff 30-45 minutes to type a single Tenant Income Certification (TIC) record. Staff also struggled with duplicate data entry while processing and posting rent checks.
The solution
Yardi Voyager Affordable Housing
Yardi Voyager Affordable Housing is an end-to-end platform with built-in affordable housing compliance, accounting, and property management. Users have mobile access to manage subsidies including Low Income Housing Tax Credits, HOME, HUD 50059 and more.
The story
Streamlining affordable housing
With substantial affordable housing compliance responsibilities, finding a software platform that could streamline workflows was key for Pennrose. “Before Voyager, we hand-wrote or typed Tenant Income Certifications (TIC) and HUD compliance forms 50059 and 50058, then figured out the calculations manually. It took 30-45 minutes to type a TIC. With Voyager we now can complete a TIC in a couple of seconds,” says Sam Lopez, Systems and Implementation Manager.
In addition to completing TIC’s, Pennrose has successfully streamlined compliance for its Low Income Housing Tax Credit and HOME program properties.
Strategic addition
Pennrose has also added Yardi Resident Screening to its platform. With Yardi Resident Screening, Pennrose gets applicant history reports with all required background. Integration with Yardi Voyager means staff do not have to log in to a separate system to screen applicants.
“If Yardi can do all these things from one platform, why should we burden our managers with multiple passwords and user names?”, says Lopez.