Yardi Voyager Review With Top 5 Alternatives

Summary

Yardi presents two options for their customers - Yardi Breeze and Yardi Voyager.

Yardi Voyager is a robust and comprehensive property management solution well-suited for organizations managing diverse and complex real estate portfolios. Its strength lies in its ability to handle both residential and commercial properties, coupled with strong accounting and budgeting features. The well-established integration ecosystem is a significant advantage, potentially streamlining operations for companies using multiple software solutions.

However, potential users should be prepared for a significant investment in time and resources during the implementation phase. The complexity of the system means that proper planning and a realistic timeline are crucial for a successful rollout. Organizations should carefully consider their specific needs, the scope of their operations, and their internal capabilities when deciding if Yardi Voyager is the right fit.

For larger organizations with diverse property portfolios and complex management needs, Yardi Voyager can provide a powerful, all-encompassing solution. Smaller operations or those with simpler requirements might find the system overwhelming and may want to explore more streamlined alternatives. Ultimately, the decision should be based on a thorough assessment of your organization's current and future needs, available resources, and long-term property management goals.

What are Yardi Voyager's key features?

Full-Range Accounting: Comprehensive tools for general ledger, budgeting, and financial reporting.
Property Management: Covers both multi-family and commercial property management needs.
Resident Lifecycle Management: Handles the entire process from guest cards to move-outs and deposit accounting.
Budgeting Tools: Robust features for creating and managing property budgets.
Reporting: Extensive reporting capabilities for both accounting and property management.
Multi-Family and Commercial Support: Caters to both residential and commercial real estate sectors.

What are some of the pros & cons?

Pros

Comprehensive Solution: Offers a full range of features for both accounting and property management.
Versatility: Suitable for both multi-family and commercial property management.
Robust Accounting Features: Strong capabilities in budgeting, general ledger, and financial reporting.
Established Brand: Long-standing presence in the real estate industry with a proven track record.

Cons

Complex Implementation: The implementation process can be challenging and time-consuming.
Learning Curve: Due to its comprehensive nature, it may take time for users to become proficient.
Resource Intensive: Implementing and maintaining the system may require significant resources.
Potential Overkill for Smaller Operations: The full suite of features may be more than necessary for smaller property management companies.

What are the top 5 alternatives?

1. Re-Leased

We're biased no doubt, but Re-Leased is entirely focused on commercial real estate. Our focus on the commercial property makes us the best in the market for commercial property management. We understand what commercial professionals need and make the complex, simple because that’s what great technology should do.

We are also accounting system agnostic and let you use your specialist systems like Quickbooks, Xero, Sage or NetSuite with the best two way integrations in the market. Ready to take a peak inside the product?

2. Appfolio

A more user-friendly option that caters to both residential and commercial properties, suitable for smaller to mid-sized portfolios.

3. DoorLoop

DoorLoop’s software is built for property managers, management companies, owners, landlords, investors, or anyone managing any type of property worldwide. Like Appfolio it is a more generalist around property type, but DoorLoop is specifically designed for property managers with smaller portfolios.

4. Buildium

Buildium’s software is designed for residential property managers, property managers with mixed portfolios, and managers of community and homeowners associations. Like DoorLoop, it’s a good place to start if you’re just getting into property management and have a small portfolio.

5. MRI Software

Founded in 1971, MRI has been around the block when it comes to the real estate industry. They offer both residential and commercial solutions that are ideally suited to companies managing large portfolios.