M id A tlantic Real Estate Journal — Pennsylvania — March 13 - 26, 2020 — 13C
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P ennsylvania
My Place Realty chooses Yardi to optimize operations Yardi Matrix Report highlights steady multifamily market growth
ANTA BARBARA, CA — A steady national job market and positive de- mographic trends suggest that the US multifamily market’s long run of consistent perfor- mance will continue, according to a newmarket analysis from Yardi Matrix . With the occupancy rate of stabilized properties remain- ing near 95% and wages grow- ing at a reasonable level, “rent gains should remain healthy in most metros” in 2020, the report says. Downsizing baby boomers and household-form- ing millennials have fueled demand. Yardi Matrix an- ticipates that new supply will approach 300,000 units this year, led by tech centers and popular lifestyle markets such as Seattle, Denver, Raleigh, NC, and Nashville, TN. Affordability is a growing problem and high rents are “starting to put a strain on increases in many of the high- er-cost metros,” according to the report. Other potential tailwinds include slowing economic growth in Europe and China, trade tensions with Beijing and unrest in the Middle East. But, barring a major shock, “the fundamen- tals of supply, demand and cost of capital remain very well balanced and indicate continued steady growth for the foreseeable future.” Yardi Matrix offers the industry’s most comprehen- sive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage in- vestments in commercial real estate. In other Yardi news, My Place Realty , owner-man- ager of 1,800 apartment units in Winnipeg, Manitoba, is moving its portfolio to the Yardi Voyager property man- agement and accounting plat- form to drive operational performance. The company anticipates greater collaboration and improved staff productiv- ity with a single-database system. Voyager automates workflows and provides man- agers with real-time property and financial data from both desktop and mobile devices. For maintenance staff in the field, mobile access will help deliver better service to ten- ants. “My Place Realty is excited to use the Yardi platform to S
improve our business inmany ways, including making us a greener company by reducing paper,” said TomHaughton , vice president of My Place Re- alty. “Voyager will empower our managers to oversee operations, execute leasing, run analytics and provide in- novative tenant and investor services from any location.” My Place Realty’s pres- ident, Kris Thorkelson , echoed that sentiment. “We are really looking forward to using Voyager,” he said. “This is a remarkable system.” The company is also adopt- ing solutions from the Yardi
and invoice processing, and Yardi Resident Screening automates rental recommen-
Multifamily Suite to further improve efficiency and resi- dent service. RENTCafé pro-
Canada Ltd. “Our clients benefit most when they use our connected solutions for
“My Place Realty is excited to use the Yardi platform to improve our business in many ways, including making us a greener company by reducing paper,” said Tom Haughton , vice president of My Place Realty. “Voyager will empower our managers to oversee operations, execute leasing, run analytics and provide innovative tenant and investor services from any location.”
dations that reduce risk. “We’re thrilled to welcome My Place Realty to the Yardi client family,” said Peter Altobelli , vice president and general manager of Yardi
vides online rent payments and other tenant services, Yardi Payment Processing supports electronic transac- tions, Yardi Procure to Pay offers onlineMRO purchasing
front office and back office to increase revenue, lower costs and reduce risk. That includes adding online ser- vices that make tenants and investors happy.”
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