|[January 23, 2014]
Pillar Properties Grows Its Business with Yardi Single-Platform Multifamily Solutions
SANTA BARBARA, Calif. --(Business Wire)--
Anticipating sharp business growth, Pillar Properties recently sought
new technology to streamline its property management operations. "As we
dramatically added apartment units, we wanted to take the opportunity to
bring our various operations onto one comprehensive platform that we
could manage centrally. We felt we would benefit from one strong
relationship for all of those business functions, as opposed to distinct
relationships that were always changing," said Carol LaMotte, vice
president and chief accounting officer for The R.D. Merrill Company, the
parent company of Pillar Properties.
Toward that end, Pillar Properties adopted the Yardi
Marketing Suite™, composed of RENTCafé™, Yardi Leasing Pad™,
Yardi Call Center™ and Yardi PopCard™, plus additional products from the
Yardi Multifamily Suite™ and Yardi's
mobile solutions. Since then, Pillar Properties has grown revenue
and increased resident satisfaction with new online and mobile services.
"Gen Y and Gen X, our primary target audience, are mobile and want to be
able to walk in, see the apartment, sign the lease, and pay online. We
saw that Yardi was developing its product line to meet those needs and
provide a best-in-class experience for our residents and our team
members," LaMotte said.
Yardi Leasing Pad, Yardi Call Center and Yardi PopCard combine to make
the leasing process easier both for Pillar Properties and its customers.
"Using Leasing Pad, our leasing team can pick up a lead and turn it into
a resident quite quickly and easily," LaMotte said. "Call Center
provides great backup to our leasing teams to keep up with the volume of
calls and traffic we get. We don't miss prospects when people who can't
reach us move on to another bulding. Whether someone walks in or phones
us or reaches out to us through our website, PopCard lets their guest
card information be easily shared and used by team members who can
follow up on the lead. All of our leasing agents have iPads with them
when they show units, and Leasing Pad lets them complete the leasing
process without having to return to the office. Prospect information
from all of our sources comes into our Yardi Voyager®
property management and accounting system and doesn't have to be
LaMotte added, "Along with making rent payments easily online, our
residents use RENTCafé to reserve amenity space or notify us on
various matters. It's a convenient one stop-shop-for them; if they need
to reach our site management team, they don't have to wait until the
management team is available but can contact them online anytime. Yardi
Energy Solutions™ adds even more convenience by letting them pay
utilities with their rent payments."
Yardi RENTmaximizer™ helps Pillar Properties maximize both occupancy and
rental income with trends-based methodology and dynamic business rules.
"We have noted significant revenue growth in properties where we have
used RENTmaximizer for a significant period of time. The metrics it
provides let us place appropriate weight on various factors that drive
pricing. Our leasing teams don't have to spend a lot of time doing their
own market comparison work. RENTmaximizer gives great information that
helps them drive revenues like we need them to."
Other solutions, including Yardi PAYscan™ Mobile, and Yardi Maintenance
Mobile™, give Pillar Properties another dimension of convenience and
access. "It's very important to us that the mobile apps are fully
integrated with Voyager so that's it's seamless for our users. Whether
they're traveling and using their mobile app or at their desk, they have
the same real-time information and the visibility into the business that
comes with it," LaMotte said.
Pillar Properties leverages additional Yardi Multifamily Suite products
to screen prospective renters, manage asset maintenance, and automate
"There's a lot of strength in using one platform for all of our
operations because a user can sign in to Voyager and see the information
they need. Our leaders can get anything they need to make decisions and
guide the business. The accounting team can combine information into
financial reporting for our owners, investors and lenders. We have a
much easier time meeting deadlines and performance targets by being on
one platform," LaMotte said.
About Pillar Properties
Seattle-based Pillar Properties develops, owns and manages apartment
residences that express the unique personality and vitality of Seattle's
signature neighborhoods. We understand the character of the area and
work hard to bring that energy into the spaces we design. For more
information, visit www.pillarproperties.com.
Now in its fourth decade, Yardi® is committed to the design,
development and support of software for real estate investment
management and property management. With the Yardi Multifamily Suite™,
Yardi Commercial Suite™, Yardi Investment Suite™ and
Yardi Orion™ Business Intelligence, the Yardi Voyager® platform
is a complete real estate management solution. It includes operations,
accounting and ancillary processes and services with portfolio-wide
business intelligence and platform-wide mobility. Yardi is based in
Santa Barbara, Calif., and serves clients worldwide from offices in
North America, Asia, Australia, Europe and the Middle East. For more
information, visit www.yardi.com.
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