Yardi Systems has acquired residential property management software provider DIY Real Estate Solutions.
SANTA BARBARA, CALIF., May 5, 2010 – Yardi Systems has acquired residential property management software provider DIY Real Estate Solutions. DIY co-founders Don Katt, Steve Lloyd, and Alison Cavano, who were major contributors to the success of MRI Software for the last 20 years, will remain with the company.
The acquisition of DIY adds a complete, integrated property management system designed for companies that manage 1,000 or fewer units. Yardi Genesis™ will continue to be offered to small property managers as a work station program. DIY will enable Yardi to provide Web solutions for small property managers.
“DIY’s software offered the perfect complement to our suite of products and the team in place was impressive,” said Brad Setser, Vice President of Yardi. “Overall, the company made for a very attractive acquisition. Having both companies’ solutions increases the options that will help clients operate more efficiently and competitively.”
“Independent rental owners comprise a significant portion of the multifamily market, and they will benefit because a range of affordable products and services will become more easily accessible,” said Steve Lloyd of DIY. “We are excited to join DIY’s talents and technology to those of the Yardi team, and we anticipate new levels of client service and technical innovation to result from the combination of these two industry leaders.”
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.
About DIY Real Estate Solutions
DIY, founded in 2007 and based in Cleveland, has created a simple and affordable set of online professional tools and services specifically designed for landlords and property managers in the small to mid-sized apartment management industry. Its customers’ portfolios consist of residential apartment complexes, duplexes, single family homes, condominiums, student housing, vacation rentals, retail and commercial properties. DIY has participated in the National Apartment Association, the National Association of Residential Property Managers, and other industry organizations. For more information, visit www.diyresolutions.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255