Yardi Voyager Software Streamlines Financial Reporting, Property Management for Tobin Properties


SANTA BARBARA, CALIF., Sept. 4, 2009 – Yardi Systems, a leading developer of real estate investment and property management software, announced today that Florida-based commercial and residential property developer and manager Tobin Properties has selected Yardi Voyager™ to streamline its financial reporting and simplify key property management activities.

“Our previous property management system could only execute basic financial reporting. As an enterprise solution, Yardi Voyager provides the full integration of property and accounting data that we need to prepare timely financial reports on our properties,” said Victor Lopez, Tobin’s controller.

He added, “The financial analytics generated by Voyager have reduced our monthly closing cycle by three or four days. This allows us to deliver financial reports on our managed commercial and residential properties much more quickly, allowing in-depth analysis and timely follow-up action. Also, the visibility available through Voyager’s instant drilldown capability — starting with a financial report and going to the invoice, the check number and the payment date — represents a quantum leap in our capabilities.”

Yardi Voyager also simplifies Tobin’s third-party management functions. “Before we had Voyager, monitoring our commercial lease expirations involved the manual, time-consuming preparation of spreadsheets. With Yardi, we need only a few seconds to summon a dashboard that shows which leases are expiring within any given date range,” Lopez said. “All changes at the property level are automatically reflected on the dashboard. Additionally, the various stacking reports created by Voyager provide an easy-to-read visual representation of leases and vacancies.”

Tobin also elected to take advantage of Yardi’s Application Service Provider hosting. Yardi hosts the application and database, provides technical support and networking resources, and assumes responsibility for system security, allowing Tobin to focus on its principal business.

“We are pleased that Voyager is helping Tobin Properties complete its financial review, reporting and property management activities more quickly and accurately. We look forward to helping Tobin gain additional value from the full range of capabilities that Voyager presents as a full business solution,” said Terri Dowen, Yardi’s senior vice president of Sales.

About Tobin Properties
Tobin Properties, headquartered in Hollywood, Fla., develops and manages retail, office and residential properties. Its portfolio includes more than 1.5 million square feet of retail properties and more than 450 residential units in the southeastern U.S. Tobin also has several retail, office, and residential projects in various stages of development. In 1950, founder Ben Tobin and his partners acquired the Empire State Building, one of the landmark transactions in real estate history. President and CEO Herb Tobin and Vice President of Acquisitions and Development Jason Tobin are the second and third generations of Tobin family members to work for the company. For more information, visit www.tobinprop.com.

About Yardi
For more than 25 years, Yardi Systems has been solely committed to the design, development, and support of real estate investment management and property management software. Recognized as an industry leader, Yardi continues to develop and deliver software and services with the highest dedication to responsiveness, quality, innovation, and customer focus. Yardi Systems has offices throughout Asia, Australia, Europe and North America. More information about Yardi products and services may be found by visiting www.yardi.com.

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