Dallas-based LumaCorp Inc., founded in 1984, specializes in real estate services for the apartment industry.
Get New Properties Up to Speed Fast
“Our goal is to run as efficiently as possible. When we close on a new property, we want to walk in and hit the ground running,” said Emily Short, director of business intelligence for LumaCorp. “We embrace technology to allow our managers and service managers to focus on the residents.”
Yardi Multifamily Suite
LumaCorp performs multiple business operations within its Yardi full-business platform, including comprehensive property management and accounting with Yardi Voyager, online marketing with RENTCafé, automated revenue management with Yardi RENTmaximizer, and online materials procurement and invoice processing with Yardi Procure to Pay.
Working Efficiently from Day One
“As a small company, we have to be lean and super productive. Yardi lets us do that,” Short said. “You hear stories like ‘Our computers were down for two days because we have new owners.’ You don’t have that with Yardi products. We walk in and it’s as if we’ve owned the property for years.”
For example, LumaCorp closed on two properties in December 2015. “People were on vacation and we’re small to begin with, so closing two properties in a week was a stretch of our resources. We couldn’t have done it without Voyager, RENTCafé and Procure to Pay.”
According to Short, they were ordering from Home Depot and Staples on Day One through Procure to Pay. “Its approval workflows and the fact that an order doesn’t get released until it’s approved really got our expenses into line.”
And, with RENTmaximizer, LumaCorp’s year-over-year revenues increased, with the majority of properties outperforming their markets.
LumaCorp also uses Yardi to meet its customer service standards and earn industry accolades in the process, including Top Rated Property Award for 14 of its properties by apartmentratings.com in 2015. Among other things, the company uses RENTCafé to engage residents with a calendar of events and other communications.