Improved Payments, Process

For Moss & Co. using Yardi

By Joel Nelson on Jan 29, 2014 in News

Moss & Company has improved resident screening, energy billing and management, and resident services at its multifamily rental properties with products from the Yardi Multifamily Suite™ that are integrated with the entire Yardi Voyager^® leasing cycle.

Moss & Company adopted Yardi Resident Screening™, an online resident screening system, to replace a paper-based screening system.  “We place resident information into Voyager more efficiently, as we no longer have a third party involved in the screening or paperwork floating around.  Resident Screening gives us confidence that we’re maintaining confidential information, and the quick return of information on prospects saves us the extra step of reentering the information in Voyager,” said Henriette Saffron, vice president and chief financial officer for Moss & Company.

Yardi Payment Processing™ sharply reduced the time Moss & Company spent processing rent payments by converting paper checks into electronic payments in Yardi Voyager.  “Payment Processing has saved us a tremendous amount of work,” Saffron said.  “We process up to 12,000 resident rent checks each month, and the old-fashioned way of endorsing them and taking them to the bank and making copies has been eliminated.  The funds download to the bank immediately and are available the next day.  Our residents are very receptive to this payment method and it’s a huge selling point with potential clients whose properties we want to manage.  There’s also instantaneous, automatic posting to the resident ledger, saving time as well as eliminating human error from incorrect input.  It’s an amazing advantage for us.”

Moss & Company has gained additional improvements in revenue collection and process efficiency since rolling out Yardi Energy Solutions™, an automated utility billing and energy management solution, in 2013.  Yardi Energy Solutions includes submetering and ratio utility billing systems, vacant cost recovery, cost and consumption analytics, and online payment processing.  “Energy Solutions has been a tremendous help in improving our utility cost collections,” Saffron said.  “We have received positive feedback from residents to converging utility charges with their rent payments, and having all charges on their rent invoices has really made us more efficient in collecting utility payments from them.”