Yardi vs ExactEstate: Choosing the Right Property Management Software
Multifamily Housing
Selecting the right software in property management can make or break your operational efficiency. We’ll unpack a suite of considerations for managers who are shopping for software. We’ll also explore lesser-known aspects of good PMS platforms, like the ethics of your software provider. A provider committed to ethical business practices can help you avoid legal pitfalls.
We're comparing two notable players in the field: Yardi, a long-standing industry giant, and ExactEstate, an innovative newcomer making waves with its user-centric approach. Here’s how the two stack up against each other.
Ease of Use
Yardi
Yardi offers a comprehensive suite of tools, but many users report a steep learning curve. One reviewer mentioned spending "a full day on a Yardi task" due to its complexity. This can lead to inefficiencies and frustration for property managers who need to focus on their core responsibilities. Some say the learning curve has a payoff, but onboarding isn’t the smoothest.
ExactEstate
ExactEstate prides itself on its intuitive, easy-to-use interface. Their platform is designed for quick adoption, emphasizing simplicity with efficiency and smooth onboarding. Users can quickly learn to navigate the system effortlessly, allowing them to spend more time managing properties rather than learning software.
Customization
Yardi
Yardi sells extensive customization options, catering to various property types, from multifamily to senior living, when users pay for it. While this is beneficial, some users wish the platform was more flexible.
ExactEstate
ExactEstate takes customization to the next level. Their platform allows for advanced property customizations, letting users set custom rules for each property and tailor workflows to fit specific needs. This level of personalization ensures that property managers can operate in a way that best suits their unique requirements.
Customer Support
Yardi
While Yardi has a strong reputation in the industry, challenges with customer support response times are often reported. Delays in assistance can hinder operations and create frustration for users needing immediate support.
ExactEstate
ExactEstate offers live U.S.-based customer support. This commitment to exceptional service ensures that users receive timely assistance whenever needed, fostering a positive user experience.
Transparent Pricing
Yardi
Yardi's pricing is high, and its structure can be complex, with various modules and add-ons that may lead to unexpected costs. This lack of transparency can concern businesses trying to manage their budgets effectively. Users are often disappointed that features they want are locked behind paywalls.
ExactEstate
ExactEstate offers a transparent and simple pricing model with no hidden fees, upcharges, or premium plans - just $3.00 per unit per month. This transparency allows businesses to plan their budgets accurately without worrying about unexpected costs down the line.
Integrations
Yardi
Yardi offers extensive integration capabilities with a wide range of third-party systems and services, including accounting software, payment gateways, marketing tools, maintenance systems, and document management solutions. However, users often report that setting up and maintaining these integrations can be challenging and time-consuming due to the complexity of Yardi's system.
ExactEstate
ExactEstate takes a more streamlined approach, adding API integrations to its existing built-in features to facilitate easier connections with other software. ExactEstate focuses on seamless data flow and user-friendly setup processes. This flexibility allows clients to build custom integrations and connect the tools they need more efficiently.
Commitment to Ethics
Yardi
Yardi’s ethical standing has recently been scrutinized due to a class action lawsuit filed against them and several property management companies. In response to these allegations, Yardi has published explanations of how their pricing system works, attempting to address misconceptions and demonstrate transparency. However, the legal challenge raises questions about the ethical implications of pricing tools in the rental market and how they impact fair competition and housing affordability.
ExactEstate
ExactEstate is committed to ethical business practices and follows all applicable laws and regulations. We do not use illegal pricing tools or methods, including sharing other users' data, to recommend rent rates. Our platform offers tools and data to help property owners and managers make informed decisions about their rental properties, but we do not provide specific rent rate suggestions.
Fraud Detection
Yardi
Yardi offers fraud prevention tools for property managers, including ScreeningWorks Pro, which provides background checks, credit reports, and eviction history searches. For their higher-paying clients, their ID Verify feature uses biometric technology and AI to authenticate government-issued IDs and match them with applicant selfies, effectively detecting fake IDs. Yardi's Income Verification module accesses over 350 million records from major employers to quickly verify applicant income claims. But again, some of these features are locked behind paywalls.
ExactEstate
ExactEstate is enhancing its fraud prevention capabilities through a partnership with TenantAlert. They offer ID fraud detection, pre-qualification screening, and bank verification services that provide up to 90 days of transaction history. With TenantAlert, ExactEstate hopes to shield against emerging fraud trends in the property management industry with TenantAlert's innovative technologies.
Key Features
While both programs offer sprawling feature sets, the chart below outlines a few key features and differences between the two.
While Yardi remains a formidable force in the property management software market, ExactEstate is emerging as a more user-friendly and customizable solution, particularly for those seeking a platform that prioritizes simplicity, flexibility, and transparent pricing. With its innovative approach and unwavering commitment to user experience, ExactEstate offers property managers a superior solution for streamlining operations and maximizing efficiency.
Ultimately, the choice between Yardi and ExactEstate will depend on your needs and priorities. However, ExactEstate's user-centric design and dedicated support make it a strong contender worth serious consideration in today's competitive property management landscape. To see a demo of ExactEstate, fill out this form.
