Transcript

Yardi's kind of saved the day when we go back and look at these stats. We realized that we were saving about one to three hours per application. That is a payroll savings of at least two hundred thousand dollars. I'm Leslie Henry. I'm the Senior Vice President of Strategic Solutions and Development for Towne Properties. Towne Properties is a full service property management company. It started in 1961 and is located in Cincinnati, Ohio. We manage just over 13, 000 multifamily units, 130, 000 association homes, commercial and recreational facilities in Ohio, Indiana, Kentucky, and North Carolina. The challenges we were facing before using Yardi products were that we knew that the NMHC was reporting that over 90 percent of of owners and developers were experiencing some type of fraud. We knew that there was a 70 percent recorded increase over the past year. We had a individual who applied at six of our communities. Nobody was verifying the ID. So she was able to move into these communities fraudulently and in turn cost us about 25, 000 dollars in unpaid rent. Luckily, we'd had a relationship at that point with Yardi just using their resident screening product for about 10 years. Yardi approached us proactively and said that they were developing new products like ID Verify and verification of income. The advantages that this has given us is that we were on the cutting edge as things were changing with ID verification. We are able to offer our third party clients, as well as our owners, the ability to know that we're doing everything to safeguard against fraud that we can. With using ID Verify, we've run about 13, 000 applications with 400 fraudulent hits. I think that all of the products working together as the ScreeningWorks Pro Suite has really saved us a large amount of time. You don't have people chasing down pay stubs anymore or trying to figure out how to get a copy of an ID when they're out of state. You're going to find that it's probably saving about 200, 000 in payroll hours on a conservative side. Looking at other products in the market, I don't think that anything really compares. The ease of use, the fact that it is so well integrated with Yardi, the training that's available and the efficiencies that they have in place, there is no comparison with the other companies. This is not one of those products that you really have to buckle down to do a huge upgrade on. It's going to be pretty seamless, pretty easy, and the advantages are going to show themselves really quickly.