Los Angeles-based Lowe Enterprises is a leading national real estate investment, development and management firm. Over the past 44 years, it has developed, acquired or managed more than $28 billion of real estate assets nationwide.
Enhanced Functionality Needed
Lowe adopted an older version of Yardi Voyager in 2013. The company’s real estate group, which manages commercial properties for institutional clients and joint venture partners, soon needed the latest technology for the additional functionality that would continue to support ongoing growth as well as demands by tenants and owners.
Lowe upgraded to Yardi Voyager 7S in November 2014.
More Efficiency and Better Morale
Cindy Dellinger, vice president/property operations controller for Lowe, outlined some of the ways that Yardi Voyager 7S makes her team’s job more manageable.
“Reversing charges and having the zerocash receipt automatically apply itself deletes an entire step. Being able to enter multiple charges to one tenant on one screen is brilliant. Automatically sending accounts receivable reports to the property management team empowers them to access the information themselves and act on it,” she said.
Yardi Voyager 7S’s value to Lowe goes far beyond numbers, according to Dellinger. “The effects are not measured so much in time savings but in improved work attitudes and morale that come from not having to do repetitive tasks multiple times,” she said. “For example, we don’t have to apply prepaid rents to the next month, they’re autoapplied. And we don’t have to do a zeroreceipt batch for reversed charges.”
She continued, “I love the flexibility, the analytics reports and how far you can drill down with Voyager. It’s an amazing amount of information that people can look at and turn into financial sense. I can run a transaction register for one tenant on one rent charge, or a tenancy report that shows everybody in a building with a renewal clause, all in one place. We can give appraisers, lenders or brokers a snapshot rent roll, custom rent roll, abstracts and tenancy schedules without having to pull out 140-page leases. We’re no longer spending hours figuring out a renewal. It’s like window-shopping: decide what you want, click buttons and get the report.
“Sometimes you almost don’t have to think for yourself. It’s almost like breathing; it just happens.”