Yardi Systems develops property and asset management software for clients in the real estate industry. It offers products for multifamily housing and office and industrial properties, as well as more niche markets such as senior housing, military housing, and co-ops. Yardi's software includes tools for managing budgets, construction, scheduling, and maintenance, as well as lease renewal, compliance, customer relationship management, resident screening, and forecasting. Yardi Voyager is its primary platform; other products include Genesis, Beacon, and Orion for SharePoint. The company serves clients such as Cushman & Wakefield and CBRE from about two dozen offices worldwide.
Yardi Systems has offices in the US and Canada, as well as in Australia, China, Germany, India, The Netherlands, Romania, Singapore, the UK, and the United Arab Emirates.
The company has been focusing on the Asia-Pacific region for international growth. In 2012 it opened a new data center in Hong Kong to serve the growing market. Prior to that, Yardi had opened a new office in Singapore and added personnel in Australia.
Mergers and Acquisitions
Yardi uses acquisitions to expand its product lines to suit the changing needs of its clients. In 2012 the company bought Lead Tracking Solutions (LTS), a developer of lead tracking and lead management software for the real estate industry. Yardi incorporated the rental prospect tracking functions of LTS's PopCard product into its Yardi Voyager application, with the intent of giving its clients a better tool with which to manage their marketing expenses. PopCard captures leads and generates alerts as new prospects are identified. That year Yardi also bought the multifamily services group (MSG) of ista North America. With offices in Alpharetta, Georgia; Jacksonville, Florida; and San Diego, MSG provides energy and water billing, metering, and management services and will expand Yardi's coverage of such services to more than 700,000 apartment units in the US.
In 2011 the company acquired Dallas-based Multifamily Insurance Group so that it could offer the ResidentShield line of renters insurance products to its customers. Other acquisitions include RentGrow (a provider of resident screening services), PropertyShark (operator of the PropertyShark.com real estate data resource), and DIY Real Estate Solution (residential property management software for smaller firms). – less