In This Issue
Yardi is Listed in Forbes’
First-Ever Best 100 Cloud Companies List »
Client News
Terraplex Automates Management of Multiple Funds with Yardi Solutions »
FJM Property Selects Yardi Voyager for Property Management »
Product & Technology
Role-based Apps:
Forecasting the Future »
Driverless Vehicles – How AV’s Will Reshape Real Estate »
Industry Trends
Anant Yardi is Honoured with a Lifetime Achievement Award by The NAA »
Property Fund Management – the 4 Top Tips »
Drones and the Future of Residential Property »
Cost of Land to Build Prime Homes in Asia Still Rising »
Yardi News
Yardi eLearning Improves
Online Course Creation »
Events
YASC 2016 – Asia »
Client Training Workshops »
Yardi Seminar Series »
Recent Events »
PERE Asia Summit 2017, Hong Kong – 1-2 March »
PERE China Summit 2017, Shanghai – 24-25 May »
REIW 2017, Singapore –
4-5 May »
Contact
Yardi Singapore Pte Ltd
#17-03, Samsung Hub
3 Church Street
Singapore 049483
+65 6369 9713
Yardi Systems Ltd
2703 Golden Centre
188 Des Voeux Road, Central
Hong Kong
+852 2851 6638
asia@yardi.com
www.yardi.com/asia
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Industry Trends
Property Fund Management – the 4 Top Tips
Property fund management, by its very nature, is a complicated undertaking. Fund managers can avoid the more egregious pitfalls of the business by following a few ground rules.
According to Terry Gowan, regional director of Australia and New Zealand sales for Yardi:
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“With a little planning, you can save staff time, ensure data reliability, meet compliance requirements, satisfy investors and tenants. And making effective use of technology that delivers real-time visibility into investors, funds, investments, properties, opportunities and clients is another good strategy”
says Gowan, who works closelywith almost half of Australia’s top performing real estate investment trusts and presents at property fund management industry events.
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Here are Terry’s top tips for successful fund management:
- Invest in an industry-specific system: “Get your fundamental accounting, processes and procedures correct from the start. Custom-made software systems are never cheaper than off-the-shelf systems designed for your industry. Use what the most successful of your peers are using and duplicate it with a provider that can stand the test of time”.
- Don’t go cheap: “Make sure the system you choose can deal with intercompany transactions, fees, ownership structures, foreign exchange, and properties. Avoid low-end options that aren’t efficient for these and other aspects of property and real estate investment management”.
- Establish an audit trail for financials: “Capturing low-level transactional data that reconciles every month is crucial to being auditable for compliance purposes”.
- Put everything into your database that you possibly can, while limiting disparate systems: “When the central source of truth for your data resides in a single database, you’ll have visibility from the fund through to the tenant, any time you need it. This approach avoids the manual labor and potential data loss associated with using interfaces and/or data warehouses or multiple custom reports to piece together a holistic view. Spreadsheet, document and email applications might initially seem like easy options, but they’re build for communication and presentations — not property or fund management. Along these lines, fund managers should be leery of assets in their portfolios whose property management and accounting are performed by third parties outside the core system. Manage internally, while allowing third-party logins on a selective basis”.
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Asia — Winter 2016
