Yardi introduces new tool for managing HUD-subsidized housing

Real Estate Weekly, July 29, 1998

"This is the first Windows-based application for this segment of the property management industry," said Karen Edgar, Yardi Director of Marketing. "With auto-conversion programs in place for MicroHUD users, we anticipate a wide and quick acceptance of this product."

YARDI TRACS for Windows efficiently organizes the data needed to meet all HUB and TRACS requirements (manually collected on HUD 50059 and Change 27 forms), streamlining rent reimbursements from both HUD and subsidized housing tenants. The software provides a wide range of clear, easy to understand reports for both general property management and subsidized housing, and includes a comprehensive database for property, unit and tenant information. YARDI TRACS for Windows fully integrates with Yardi property management data, eliminating the need to have two separate systems to manage subsidized and non-subsidized properties.

Managers and owners can significantly increase their accuracy and efficiency by taking advantage of these key features:

* Year 2000 compliant;

* Project information specific to subsidized housing;

* Reports pertaining specifically to subsidized housing, including Certification Processing, Section 8 Rent Roll, Section 236 Rent Roll, Market Rent Roll, Utility Reimbursement, Excess Income, and Tax Credit;

* Record keeping for Recertification and Verification Notices;

* Posting of rent to tenants and HAP charges to HUD

* Printing and posting of HAP Vouchers;

* Posting and posting of HAP Receipts;

* Creating TRACS certification and recertification files for transmission to HUD;

* Creating TRACS vouchers for transmission to HUD;

* Online searchable HUD 4350.3 Occupancy Handbook and Yardi Help screens;

* Simplifying tenant transfers to new units;

* Automated move-in and move-out accounting specific to subsidized housing;

* Organizing gross rent changes for relevant tenants;

* Automated rent posting, automated rent increase function;

* Tenant ledgers and statements;

* Operates on Windows 3.X/95/NT and Novell networks.

Yardi Systems has been providing leading edge software solutions to the real estate industry since 1982. Committed to examining and embracing new technologies, Yardi caters to the property and asset management professional, offering three primary product lines in varying degrees of sophistication and feature sets. Each line consists of a variety of modules that expands the functionality of the basic product. The product lines share the same architecture, making it easy to move from one line to another as a business grows and changes.