Benefits - MRI, Yardi, and RealPage

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Benefits - MRI, Yardi, and RealPage

After a thorough and exhaustive search on credible avenues of information, our research team was able to identify seven benefits of MRI, Yardi, and RealPage real-estate software tools. End users have reviewed the MRI software to be intuitive, easy-to-use and navigate through while Yardi's custom reporting feature has the most positive reviews. RealPage provides all the property management software features starting from accounting, leasing and rents, maintenance to payments.

MRI SOFTWARE

  • According to an MRI Software customer's review on G2 Crowd, the Residential Management module of MRI Software, along with its add-on features, are great for real estate agents with a conventional portfolio. Account receivable functions and batch entry functions are easy to use. In addition to this, another benefit is that the buildings are separate for entities so ownership changes do not change tenant IDs. This falls into the streamlining category of benefits.
  • Another benefit pointed out by an end user of the tool is that MRI software allows all charges to be broken into charge codes. This makes it easy to detail payments in an organized way. She adds further that the software has made resident ledger reading easier than before. This benefit falls into the financial planning category.
  • According to a user's review on Capterra, the product is easy to use and manage in addition to being intuitive. Furthermore, the end users find the software, easy to navigate through. The software provides a wide range of app add-ons that integrate seamlessly. This falls into the streamlining category of benefits.
  • Another end user appreciates the way incoming traffic is organized by MRI software. He further adds that integrating MRI software with LRO (lease rent optimizer) will prove to be an exceptional rent projector. This falls into the forecasting category of benefits.
  • According to a Capterra reviewer, MRI software helps in rent collection, retrieving past resident rental records, vacancy, integration with leasing systems, and work order management. This benefit falls into multiple categories such as streamlining, financial planning and budgeting.
  • Another reviewer on G2 Crowd says that the software is easy to use and integrates well with other products. It helps to keep everything on track in one place. One does not need to bounce from place to place for extracting or pulling out information.
  • One end user noted, "The summary page is very useful for viewing the overall activity of the property." Another pointed, "The main screen gives you everything you need to know and it's up to date." These benefits belong to the category of streamlining.

YARDI

  • Yardi Voyager allows its end users to keep track of work orders, payments, lease expiration. It also works well in sync with other property management products such as Aptex. Yardi allows its end users to access and print applications, notices, leases, and work orders with ease. This benefit falls into the financial planning and budgeting categories.
  • The custom reporting feature is one of the most talked about the benefit of Yardi software. It allows its end users to make custom reports for prospects to see when they should be following up with them per their move-in date etc. In addition to this, Yardi can make different reports for its customers if contacted for the same. The customer cited an example of this: "We wanted a report to be able to see garage history that we could not previously see."
  • Yardi's training modules are helpful and informative. The software has made the process of creating and editing charges very simple. The search feature is also highly advanced in Yardi. Creating batches is very simple as well. These benefits fall into the streamlining category.
  • According to an end user, "Yardi's customization abilities are second to none. Because of the SQL Language, it is written in and it's integration or simple Word documents to pull information via tokens from the database makes it a robust and customizable platform. It's integration with hundreds of vendors and online systems make it a complete prospect to a tenant management system. Accounting is detailed and in-depth providing fully featured analysis of finances." These benefits fall into multiple categories such as streamlining, financial planning, and budgeting.
  • Yardi Voyager offers a robust accounting functionality and gives the real estate agent a range of options ensuring that simple HOA (Home Owners'Association)/Condo financial statements can be completed with ease. In addition to that, Yardi offers a more detailed setting for clients that require it. The system is extremely customizable so that almost any company's business practices can be reflected in the menu-sets, workflow patterns, and reporting.
  • Yardi is famous for automating the processes of property management. This is evident from the reviews that indicate that the end users are able to use automated receipts and payments to allow them to process transactions wherever they are. This benefit belongs to the automating category.
  • According to the end-user reviews of Yardi, the customer support service is also excellent in terms of the support representatives being dedicated to helping resolve issues and follow up. This again is a streamlining benefit.

REALPAGE

  • RealPage has been recently upgraded to become more user-friendly. Now, the information is easier to access and the homepage can also be customized. In addition to this, the resident information is easy to locate. All property information can be found within a single program rather than across multiple programs. This is a streamlining benefit of RealPage.
  • RealPage offers best-in-class integration capabilities. For example, it ties in with Nvoicepay seamlessly. This is a streamlining benefit of RealPage.
  • RealPage has many products to enable businesses to manage their properties. One such product is their intranet feature called active building which allows the end users/real estate agents to send messages to their residents and allows the tenants/ residents to make maintenance requests, pay their bill and interact with each other. This is an automating benefit of RealPage.
  • According to an end user, "RealPage has helped me become better at account management, organization, finance management, and resident data management and retention." This benefit belongs to the financial planning and budgeting category.
  • One of the most sought-after features of RealPage is the check processing and rent management page. It is a very streamlined process and once someone begins scanning checks in to Onesite, the system starts pre-filling a lot of the information one needs when posting to the tenant page, requiring minimal manual input. The reports page is also top-notch, and one can pull items as detailed as leasing closing ratio for employees, delinquency reports (with notes), prospect reports, lead source tracking, etc. This benefit falls into the automating category.
  • According to a review on Capterra, RealPage is easy to use, provides seamless transitions between leases, work orders, owner information, etc. It has excellent reporting features that can be tailored or customized depending on the needs of the end user. In addition to this, it is available on any device so allows pulling information on the go. This is a streaming category benefit.
  • As per a reviewer on Capterra, "This is a Windows-based program and I can switch to other projects. I can see the tenants' information on one screen." This is an automating category benefit of RealPage.
Sources
Sources

Quotes
  • "What do you like best? Batch entry and account receivable functions are pretty easy to use. I like that the buildings are separate for entities so ownership changes do not change tenant IDs. If you have a conventional portfolio, the RM module and all of its add on features are great. What business problems are you solving with the product? What benefits have you realized? In a complex portfolio, MRI is used for all 3 types of properties we have. This solves the residential portion. The work order portion has been helpful for our conventional properties."
  • "What do you like best? Like most software, getting used to the functionality is the most important part. MRI is a pretty smooth transition to be honest, I'm a huge fan of how easy it is to use and integrate with other products What business problems are you solving with the product? What benefits have you realized? We were using MRI as a leasing tour and reporting stand point, being able to keep track of everything in one place is where this was most beneficial. We didn't have to bounce from place to place just to pull data or information needed"
  • "What do you like best? Ease of use. Everything is laid out pretty simply and it calculates prorates as needed What do you like best? in general, this tool is easy to use and explore. also it has a lot build in functionality that allow user to choose from What business problems are you solving with the product? What benefits have you realized? explore residential properties"
  • "What do you like best? It’s really easy to learn and becomes a go to for all sorts of things that come up What business problems are you solving with the product? What benefits have you realized? We track leases and renewals and it is very easy to use with that. No real issues at all What do you like best? It’s very easy to navigate. Almost property management for dummies. What business problems are you solving with the product? What benefits have you realized? Rent issues, payment history, maintenance orders"
  • "What do you like best? The summary page is very useful for viewing overall activity of the property. What business problems are you solving with the product? What benefits have you realized? It provides a simple format for leasing activity and renewal offers. What do you like best? The main screen gives you everything you need to know and it's up to date. What business problems are you solving with the product? What benefits have you realized? You realize where work needs done and where good work was achieved."
  • "What do you like best? I have enjoyed my work experience using MRI software. I like the that all charges are broken into charge codes as this makes detailing payments organized. What business problems are you solving with the product? What benefits have you realized? MRI makes resident ledger reading easier. What do you like best? Love the organization of incoming traffic What business problems are you solving with the product? What benefits have you realized? Use mri and inter grated it with LRO. Exceptional rent projector."
Quotes
  • "What do you like best? Yardi Voyager is a versatile software that makes Property Management much easier. It allows us to keep track of work orders, payments, lease expirations, and much more! I would highly recommend it! Yardi Voyager also works well in conjunction to other Property Management programs like Aptex for example. You can access and print applications, notices, leases, and work orders with ease. What business problems are you solving with the product? What benefits have you realized? Yardi Voyager keeps tenant and property details condensed and organized. It provides solutions for organization, processing of violations and notices, and pay history. It stores templates so you can avoid the use of unsanctioned materials throughout the company."
  • "What do you like best? I love Yardi. It helps us keep resident information in order and gives us easy access to everything we need. I'm pretty sure our company uses a really old version but I still really like using it and how helpful it is. What business problems are you solving with the product? What benefits have you realized? It's like a one-stop shop. Everything we need is right here in one place. We had to go without it for a couple days and really couldn't even work. What do you like best? The custom reporting feature is my favorite part about leasehawk. You can make custom reports for prospects to see when you should be following up with them per their move in date ect. If you contact them, they can make different reports for you. For example we wanted a report to be able to see garage history that we could not previously see. What business problems are you solving with the product? What benefits have you realized? We have wanted a better way to follow up with our prospects, which is why we converted to leasehawk. We are now switching over to Yaridi CRM to make it easier for our employees to have everything in one spot."
  • "What do you like best? Using Yardi as our platform for our property management company has been helpful, from my positions as the receptionist and marketing coordinator. It provides all the reports and resident/prospect info that we need. I'm able to view our list of vacancies depending on how I'd like them sorted and view details. It is also simple to use. When I started as a new employee, I was able to pick up the process quite quickly and navigate different menus with ease. I like how it has options to export any reports, whether you want excel or pdf; this makes a lot of things easier for us when we use Yardi reports daily or weekly. What business problems are you solving with the product? What benefits have you realized? We are using Voyager for basically everything so we are solving a lot through it. We use it as a file storage, means of communication, data analysis and pulling up reports... so much. Uploading a lot of our resident files onto their Yardi profiles also allows us to be more eco-friendly and save space in our corporate office since everything is digital and very easily accessible."
  • "What do you like best? My team uses this software for the accounting at a few of our properties. It is nice because you can enter and approve invoices, run reports, and track projects all in one place. It is pretty easy to navigate and not a difficult platform to operate. What business problems are you solving with the product? What benefits have you realized? Yardi has made A/P much easier and more efficient. We are able to utilize address books, set up vendors and other information from various ownerships in our portfolio all through one platform when using Yardi. It has also made the process of invoicing much more manageable because managers, accountants and A/P specialists can all be on using the platform for their tasks simultaneously, streamlining the overall process."
  • "What do you like best? I love the ease of it all. The training modules are also super helpful for when you are just beginning. Creating and editing charges is so simple, I could do it with my eyes closed. I love being able to search for people using both their first and last names. Creating batches is very easy as well. Overall, I've had good luck using Yardi. It seems to make my job a lot easier currently which I really appreciate! What business problems are you solving with the product? What benefits have you realized? We switched from a different software to Yardi and it has made my job so much easier. What used to take me hours now takes me half the time! And it's actually enjoyable because it's easy to understand and I am not constantly getting frustrated with the software. We found that it's really easy to track charges, who inputted them, when they were added, etc. etc. which helps us audit"
  • "What do you like best? Yardi's customization abilities are second to none. Because of the SQL Language it's written in and it's integration or simple Word documents to pull information via tokens from the database makes it a robust and customizable platform. It's integrations with hundreds of vendors and online systems make it a complete prospect to tenant management system. Accounting is detailed and in depth providing fully featured analysis of finances What business problems are you solving with the product? What benefits have you realized? We use it to manage 700+ commercial and residential units. We track the entire life cycle of a tenant from prospect to tenant. We use it to collect online payments, maintenance requests, and provide owners in depth accounting financial analysis."
Quotes
  • "What do you like best? I like that it has been upgraded to be more user friendly. Information is easier to access than before and the homepage can be customized. Resident information is easy to locate. All property information can be found within a single program rather than across multiple programs What business problems are you solving with the product? What benefits have you realized? Realpage is an excellent property management software that helps maintain all current info on residents and prospects alike."
  • "What do you like best? I like how easy it is to find someone's apartment information, and previous information for those who no longer live with us. Finding a resident's balance due is very simple. When waitlisting someone for a particular apartment relapage makes it very simple because it takes you through each step. What business problems are you solving with the product? What benefits have you realized? An easy way for residents to log in and pay their rent. Some benefits I of RealPage that I like is seeing in activity who talked to who when and what the issue was about. It makes it easier for everyone in the office to be aware of any ongoing issues."
  • "What do you like best? RealPage is THE all in one software solution for all your Property Management and Accounting needs. It's the most complete package our company has ever used. They offer everything you need for Multifamily Management, from Leasing & Rents to the back end accounting, it ties in with Nvoicepay seamlessly ! What business problems are you solving with the product? What benefits have you realized? RealPage solves and provides all of our Multifamily Housing Management needs, From Accounting, Leasing & Rents, Maintenance to payments, They tailored a unique combination of the software they offer to solve even the most complicated situation. Our company grew from owning & managing 10 properties to 30+ in less than 2 years, and RealPage has been with us every step, providing excellent service and solutions."
  • "What do you like best? Realpage has several products to help businesses manage their properties. I really like their intranet feature called active building. It allows us to send messages to our residents and allows them to make maintenance requests, pay their bill and interact with eachother What business problems are you solving with the product? What benefits have you realized? It's a total property management system. It's nice to have all of our needs met with one company. What do you like best? Real Page is a user friendly, easy to learn, and intuitive. Most intuitive accounting software is not made for accounting minded individuals, but Real Page is. What business problems are you solving with the product? What benefits have you realized? I can have accountants access Real Page from anywhere that has an internet connection. We have not become a fully remote workplace yet, but things are heading in that directly and Real Page has made it possible."
  • "What do you like best? My favorite thing about Realpage is how easy it is to use and to train new users. I also really like that you can customize the home screen. Realpage is by far the most user friendly property management software I have used. What business problems are you solving with the product? What benefits have you realized? Realpage has helped me become better at account management, organization, finance management, and resident data management and retention."
  • "What do you like best? My favorite feature is the check processing and rent management page. It is a very streamlined process and once you begin scanning checks in to Onesite, the system starts pre-filling a lot of the information you need when posting to the tenant page, requiring minimal manual input. In return, this makes posting rent payments a breeze. The reports page is also phenomenal, and you can pull items as detailed as leasing closing ratio for your employees, delinquency reports (with notes), prospect reports, lead source tracking, etc. What business problems are you solving with the product? What benefits have you realized? Onesite is a very user friendly software. It is easy to keep track of rent payments, posting rent, and close out is super easy. Having the option to apply a single payment directly on the tenant page, or submitting several payments in bulk to different tenants made it easy to track delinquencies and keep them at an all time low."
Quotes
  • "“Intuitive and easy to use and manage.” Pros: This product is easy to navigate through for end users. There is a wide variety of App add-ons available to expand based on your needs, with many that integrate seamlessly. Above all else, the Customer support is OUTSTANDING!! There is always a pleasant, knowledgeable voice on the other end to assist you in a timely manner. MRI is always working on incidents within the system and releasing CMU's."
  • "“Everything I need right at my finger tips!” Overall: MRI is great management software, but lacks things I was looking for like self teaching tutorials. Pros: I have a variety of reports available to help me track rents, delinquency, budgets, and much more. “Great Accounting Real Estate Software” Overall: I have used other software, and MRI is a great overall software for accounting use in real estate. Rather happy. Pros: I like the windows version of MRI as its very user friendly and fast. The reporting and windowed setup is great for running multiple reports over and over. Everything is where it should be."
  • "“A must-have for residential real estate” Pros: So many features! I'm a numbers guy, so my favorite feature is definitely the robust reporting. I can always stay on top of property performance and cut the data however I want. The challenge is making sure that data gets where it needs to be (making sure the team inputs it in a timely manner) “Vendor management and reporting for over seven years” Pros: I like that MRI interface is user-friendly and the reports are easy to run. I also like that the reports can be exported to PDF as well as Excel spreadsheets."
  • "“Without MRI, it would be impossible to manage our properties! ” Pros: I love the organization MRI used to keep our property running smoothly. I love that I can pull a boxscore to review our leads and know where our traffic is coming from. The reports make it easy to keep up with the multiple things going on at a property. This software keeps you updated, has too many wonderful features to list, and should be used at every property management company! “Great Accounting Software” Overall: The overall experience has been good so far. MRI has allowed us to bring all our property accounts under one umbrella Pros: The biggest pro with MRI is there willingness to provide API connections which allows data to flow into other programs."
  • "“Great Tool for Collections and Work Orders” Pros: The update has really made it easier to use/access. It has dual functioning for rent collection, past resident rental record, vacancy, integration with leasing systems, and work order management. “Preferred Property Management Accounting software” Overall: Have always been trained by my company users. Not sure if MRI offers training directly for users, but would like be a more valuable perk or selling point if it were included with the license."
  • "“MRI is a lifesaver!” Overall: Amazing! I can schedule appointments and follow ups, keep notes on my residents, pull reports, and keep up with my properties numbers for everything! Pros: MRI allows my property to keep up with prospects, current tentants, and their accounting. The reports you are able to pull with this software enables you to find out anything you need to know about our property! “Robust partnerships, multitude of options, open and easy to communicate with other systems” Overall: We gain the ability to give out clients option to select from many partners, to utilize the newest platforms, and to cross over many areas (commercial, residential, public, etc.) Pros: I like the options it provides and the unified experience it offers. I enjoy the ability to integrate with other software if I do not pick one of their products. They have options for commercial and public options and are rapidly growing to support a larger market. They are also an international company and have been around for many years."
Quotes
  • "“Yard Voyager: A Must See Product” Overall: If you're shopping for property management software, then, even if you're a small firm now, Yardi should be on your consideration list. You are planning to grow, right? It will be a selling point if you prospective clients that you use Yardi. Pros: During my 35 years in commercial and multi-family residential real estate, I have literally watched the real estate management software industry grow up. I have used most of the best property management software companies' products at one time or another. Yardi has been an industry front runner virtually since its release. If you run a large management company with institutional clients, then chances are you already know all about Yardi, because many institutional owners require that their managers use Yardi. If you aspire to manage institutionally-owned ("investment grade") properties one day, then you should take a hard look at Yardi. It is highly competitive cost and feature-wise with its very best competitors. Call Yardi and ask for a demo. At the very least, you will get a taste of what top-of-the-line property management software looks like. I have recommended Yardi software to my property management clients on many occasions. In all fairness, one size does not fit all in the property management industry, and I have recommended one of Yardi's competitors instead more than once."
  • "“A valuable tool to manage all of your rental properties all in one place. Great for many units.” Overall: Against all other rental property softwares, this is the most diverse. You can literally use it from everything to commercial, residential and hospice type environments. It is also really great because most people that have worked in the rental property industry are familiar with the program which makes training new hires a lot easier. Pros: This is a great way to manage every part of your rental property aspects all in one place. Yardi Voyager is extremely helpful in implementing payments to accounts and many more features. There is a reason that Yardi is one of the most popular rental software tools out there. They make handling everything simple and easy. Yardi Voyager specifically is good against multi platform rentals. It's like the big boy of rental tools. Once you have it all configured you'll never use anything else. It will help you with quotes on your new move ins, your lease expirations, your work orders for your maintenance people, it will also help with your occupancy, your vacancy and your foot traffic in your property. There are a lot of reports that you can generate to gauge how you are doing financially in the business as well. Yardi Voyager is an extremely useful tool."
  • "“Solid Property Management Accounting” Pros: The accounting functionality is solid on Yardi Voyager and gives you a range of options ensuring that simple HOA/Condo financial statements can be completed with ease but also having more detailed setting for clients that require it. The system is completely customizable so that almost any company's business practices can be reflected in the workflow patterns, menu-sets and reporting. “A solid, functional tool ” Pros: I appreciate the ease in which you can run reports through Yardi and how quickly and dependably the software uploads invoices. It has pretty reliable support features and allows me to do lease administration easily"
  • "“Accounting and Property Management” Overall: I used Yardi for accounting, lease information, building information, tracking COI's, running budget reports and many other things. Overall it is an amazing product that can help a business consolidate their PM tools all in one. Pros: The biggest pro for Yardi Voyager is the ability to track multiple properties in one system, this includes COI tracking, AR, collections, lease terms. The other wonderful tool is the ability to keep all the property information in one place (i.e. building size, type, year etc...)"
  • "“Making Property Management Manageable” Overall: It's been fairly simple to use. I wish it would be just a little more intuitive, but the Yardi Helpful Tools and instructions makes life easier if I have questions. Yardi Support is also amazing and answer almost all my questions perfectly. Pros: Would I be able to run my apartment/townhome communities without Yardi Voyager? Maybe. Would I like to try? Definitely not. It is a life saver organizer and allows me to stay on top of everything that needs to be accomplished for me and my team. From leads, to financials, to reporting and more Yardi Voyager is my go to software."
  • "“Yardi Voyager for a Commercial Real-Estate Company” Overall: Voyager is a great tool and we would choose it again! Pros: Once set up, Yardi does a great job automating the management of our properties. We have also been able to use automated receipts and payments to allow us to process transactions wherever we are. Yardi has been built around real estate and that is evident! Customer service has also been excellent. Support reps are dedicated to helping resolve issues and follow up is great."
Quotes
  • "“Streamline property management solution” Pros: Easy to use, seamless transitions between leases, work orders, owner information, etc., excellent reporting features that can be tailored or customized depending on our need. Available on any device so we're able to pull information on the go."
  • "“Good residential software” Pros: The system is very simple to use. The system provides all the reports needed for productivity in residential property and helping manage all units."
  • "“review realpage” Pros: This is a windows based program and I can switch to other projects. i can see the tenants information on one screen. “Good Software Program for PM” Pros: I like the bulk mailing features, it makes sending late letters each month a breeze."
  • "“Should be more user friendly ” Overall: I was not impressed with this software. It seemed to be less functional and more time consuming than the others I've used. Pros: The reminders were nice. It helps that you are given the names of prospects for follow up. Maintenance orders were easy to put in."
  • "“Better products out there for the money” Overall: I really like how well it works for multifmaily properties. May other software products are geared more towards managing individual homes, but Real Page does a nice job of structuring the software to manage multifmaily properties."
  • "“Good accounting software and getting better. ” Pros: Easy to use, fairly straight forward report writing capability. Great for multi-entity companies."