Automated reporting and cash management features help drive profitability for Texas residential company
SANTA BARBARA, CALIF., Jan. 21, 2016 — Residential property owner and manager Old El Paso Real Estate reported immediate improvements to its business operations since adopting Yardi Genesis2™ as its property management and accounting platform in June 2015.
Yardi Genesis2 is a mobile, Web-based and cloud-hosted platform for owners and managers of small to mid-sized residential and commercial real estate portfolios. “It has made the company more efficient, profitable and financially accountable,” said Lee D. Boone, owner of Old El Paso Real Estate.
Old El Paso Real Estate uses Yardi Genesis2 to prepare quarterly financial reports, including one for mortgage investor Fannie Mae, with new speed and efficiency. “Our managers used to calculate profit/loss, rent rolls, invoice status and other analytics and write it all up manually. Genesis2 does it all automatically in much less time. I can easily reconcile how much renters owe the company with deposits to our bank accounts using a built-in dashboard. Keeping better track of our money with a reliable system makes us more financially accountable and ultimately more profitable,” Boone said.
He added, “I can review the whole company from one location with just a few mouse clicks. This gives me more control over my company than I ever had before. Genesis2 gives me the extra time and reporting knowledge to improve my company. I highly recommend it.”
About Old El Paso Real Estate
Old El Paso Real Estate is a family-owned enterprise that owns 801 rental units and 18 houses and manages an additional 106 units in El Paso, Texas.
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. Yardi has two platforms to choose from: Yardi Genesis2™, with its Yardi Genesis2 Suite for smaller real estate firms; and the more comprehensive Yardi Voyager® platform for mid- to large sized property owners, managers, and investors. With the Yardi Multifamily Suite™, Yardi Commercial Suite™, Yardi Investment Suite™ and Yardi Orion® Business Intelligence, Yardi Voyager is a complete real estate management solution. Both platforms include operations, accounting and ancillary processes and services with mobility for residential and commercial portfolios. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.