Laramar Communities has added Yardi Portal™ and Yardi Payment Processing™ to its Yardi Voyager™ property management and accounting platform. Laramar intends to use the new products to improve its marketing, leasing, resident services and rent processing capabilities.">

Laramar Communities LLC Expands Its Use of Yardi Products

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Residential property manager Laramar Communities has added Yardi Portal� and Yardi Payment Processing� to its Yardi Voyager� platform.

SANTA BARBARA, CALIF., Aug. 5, 2010 – Residential property manager Laramar Communities has added Yardi Portal™ and Yardi Payment Processing™ to its Yardi Voyager™ property management and accounting platform. Laramar intends to use the new products to improve its marketing, leasing, resident services and rent processing capabilities.

Laramar, whose portfolio comprises approximately 40,000 multifamily units in 20 major U.S. markets, undertook a series of initiatives to improve its business. The objectives included upgrading residential unit marketing, enhancing resident satisfaction, and reducing the time employees spent processing rent payments. The company determined that extending its Yardi Voyager system with new products was the most efficient, cost-effective strategy.

“We want to display units on our property websites immediately after they are marked as available in Voyager. Portal will do that,” said Kris Ellwanger, executive director of business applications for Laramar. “Portal will extend online leasing to thousands of prospects who can’t visit a community immediately and who might rent elsewhere if they can’t apply online. In addition, many of our residents say they look forward to using Portal to pay rent, renew leases and submit service requests online.”

Laramar will increase its staff’s efficiency with Yardi CHECKscan™, a part of Yardi Payment Processing. Yardi CHECKscan scans paper checks as electronic payments that auto-match to resident charges in Yardi Voyager. “The principal benefit of switching from a bank-scan solution is that we don’t have to perform data entry twice. We expect rent processing will take about half as long. This will give our onsite managers more time to focus on our residents and on producing higher occupancy rates,” said Ellwanger.

“Laramar is a leading example of a multifamily property management company benefitting from a Voyager-based full business solution. The options they selected represent just a few of the capabilities available, with no data transfers, interfaces or third-party modules,” said Terri Dowen, Yardi senior vice president of sales.

About Laramar Communities LLC

Laramar Communities, based in Greenwood Village, Colo., is the property management arm of Chicago-based The Laramar Group LLC, a fully integrated real estate investment and management company. Laramar is an industry leader in multifamily investment, acquisition, renovation and management. For more information, visit www.laramargroup.com.

About Yardi

Yardi Systems has been committed to the design, development, and support of real estate investment management and property management software for more than 28 years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™, and Yardi Investment Suite™, the Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Asia, Australia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255