A large multifamily service corporation was expanding rapidly and needed to gain significant efficiencies in onboarding new properties, maintain accurate lease data, accurately track expenses, and provide detailed reporting to its clients.

In addition, they were acquiring property management companies and the new data needed to be migrated to corporation’s core Yardi system.

CHALLENGES

1. Complex, time-sensitive project

2. 108 properties, 40,896 units to transition

3. Poor lease quality required audit and re-abstracted leases

SOLUTION

The company selected NTrust because of the their extensive experience with Yardi systems and their domain expertise in Lease Abstraction, Administration, and Accounting.

NTrust uses Yardi to administer 30,000 multifamily leases and understands how to get the most out of Yardi automation features.

SCOPE OF WORK:

Data Clean-Up: Reviewed existing data being migrated to Yardi.

Analysis & Configuration: Identified areas where rent processing, accounts payable, vendor management, and collections activities could be automated.

Production Cut- over: Launched over a weekend once client approved the configuration and data load.

Test & Validate: Loaded cleaned data into the test system, ran reports, and compared to the same reports generated prior to loading.

BENEFITS

10 years’ experience with Yardi systems.

Proven migration validation process.

40% Cost Savings compared to other consultants.

RESULTS

Successfully completed project on time in four months: Transitioned 108 properties representing 40,896 units inclusive of data clean-up and analysis activity.

Data clean-up for 108 properties completed in just eight weeks: Delivered quickly and efficiently with 100% accuracy.

Property onboarding process cut by 60% to 70%: Client can now load property quickly and accurately.

Client was thrilled with the results and the impact was notable – they were able to cut the property onboarding process by as much as 70%.