Denholtz Properties, based in Red Bank, New Jersey, actively targets multi-tenant office and industrial properties in select markets to mitigate risk and provide maximum returns for its capital partners. It has grown a diverse, multi-state portfolio reflecting a variety of property types and locations consisting of millions of square feet of quality real estate. Denholtz Properties maintains offices throughout Florida and New Jersey.
Unstructured Energy Management
For more than a decade, Denholtz automated many of its business processes, such as property management and accounting, tenant services and invoice processing, with Yardi Voyager and additional built-in solutions. Energy management was a major operational area that still largely relied on manual data input and workflows. “We used multiple services and databases for importing utility invoices, which was tedious and not user-friendly, and we had no process for monitoring tenant move-ins and move-outs,” recalled Michelle Lamela, business systems manager for Denholtz.
Denholtz adopted Yardi Utility Expense Management, an element of the Yardi Pulse Suite that receives, validates and completes payments for the company’s utility bills. Yardi Utility Expense Management includes a single portal for energy consumption reporting and cost insight along with efficient vacant cost recovery.
Full Control of Energy Costs
Yardi Utility Expense Management gives Denholtz’s property management team full control over energy costs with better budgeting, reporting and vacant space analysis. The solution provides new capabilities, such as easy-to-use task flows and custom features like tables showing utility billing information at the property, unit and tenant levels.
“Full visibility into how our buildings use energy helps us take responsibility for monitoring our consumption and finding new ways to get the most from every energy dollar we spend,” Lamela said. She added, “Yardi Utility Expense Management strengthens our decision-making by making utility consumption and billing information easily available from a single database.”