Survey Says: Yardi Expands Market Share Multifamily firms expect to boost technology spending this year as they plan for growth.
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SOFTWARE PRODUCTS
What property management software does your company primarily use? (91 respondents in 2007)
Provider
2007
2006
2005
AMSI
3.3%
10.4%
10.8%
Domin-8
2.2
.5
0
Intuit/MRI
9.9
11.4
7.8
Property Automation Software (Tenant Pro)*
9.9
7.5
8.2
Realeum (Foundation)
1.1
1
.4
RealPage
12.1
10.9
9.9
Rent Right
6.6
4
.4
SS&C (Skyline)
1.1
3
1.7
Sage (Timberline)
3.3
3
6.9
Yardi
26.4
21.4
21.6
What property management software company’s products are you most likely to consider purchasing in the future? (105 respondents in 2007)
Provider
2007
2006
2005
AMSI
10.5%
12.1%
9.7%
Domin-8
8.6
6.7
1.9
Intuit/MRI
23.8
24.2
22.5
Property Automation Software (Tenant Pro)*
26.7
20.2
16.7
Realeum (Foundation)
0
4.5
2.3
RealPage
21
17.9
23.6
Rent Right
4.8
10.8
7
SS&C (Skyline)
0
6.3
3.9
Sage (Timberline)
8.6
9.4
14.7
Yardi
47.6
35
31.4
PRODUCT FEATURES
What product features are you most interested in having in a property management software product? (118 respondents in 2007, checking all that apply)
Feature
2007
2006
2005
Property and lease-record management
87.3%
77%
76.3%
Lease administration/processing
70.3
64.4
66.8
General ledger/budgeting
75.4
70.4
63.9
Accounts payable
67.8
60.1
59.8
Asset management
56.8
55.7
56.3
Executive reporting/business intelligence
56.8
53.8
54.4
Work orders and preventative maintenance
63.6
58.5
53.5
Project management
45.8
50.2
50.3
Credit checks
48.3
42.7
44.3
Web-based
44.1
46.2
37.7
Criminal background checks
33.1
34
36.4
Purchase-order module
25.4
33.6
27.5
Dynamic pricing of units based on market environment
24.6
24.1
27.2
Payroll module
18.6
27.3
25.6
Wireless
16.1
16.6
13.6
*Acquired in February by Domin-8 Source: Apartment Finance Today 2007 survey of multifamily owners, developers, and property management companies.
Who Took the Survey?
APARTMENT FINANCE TODAY’S 2007 Technology Survey received 167 responses from a broad spectrum of the industry. More than half of the respondents, 57 percent, hold the title of principal, partner, or owner, and the next largest group was presidents, chairmen, and CEOs, at 11.4 percent. Executive or senior vice presidents made up 10.8 percent of the respondents, with 10.2 percent holding the title of director. The rest of the field were managers or held other titles.
The company profiles were weighted toward the property owner/manager side, as more than half, 53.6 percent, fit that category. The next biggest groups were developers and diversified real estate firms, at 13.3 percent each. Property managers, builders, asset managers, and others made up the remainder. The overwhelming majority, 157 of 167, are private companies.
Respondents tended to be at smaller firms, with 56 percent saying they worked in companies with less than 10 people. Companies with 11 to 25 employees made up 12 percent of the field.
