Yardi Acquires DIY Real Estate Solutions
SANTA BARBARA, Calif.--(BUSINESS WIRE)
- May 5, 2010 -- Yardi
Systems has acquired residential property management software provider DIY Real
Estate Solutions. DIY co-founders Don Katt, Steve Lloyd, and Alison Cavano, who
were major contributors to the success of MRI Software for the last 20 years,
will remain with the company.
The acquisition of DIY adds a complete, integrated property management system
designed for companies that manage 1,000 or fewer units. Yardi Genesis™ will
continue to be offered to small property managers as a work station program. DIY
will enable Yardi to provide Web solutions for small property managers.
“As a leading supplier of integrated, end-to-end property management solutions
to small companies, DIY provides a perfect complement to our product suite.
Merging both companies’ solutions into one platform will help property
management companies operate more efficiently and competitively,” said Brad
Setser, vice president of Yardi Systems.
“Independent rental owners comprise a significant portion of the multifamily
market, and they will benefit because a range of affordable products and
services will become more easily accessible,” said Steve Lloyd of DIY. “We are
excited to join DIY’s talents and technology to those of the Yardi team, and we
anticipate new levels of client service and technical innovation to result from
the combination of these two industry leaders.”
Yardi Systems has been committed to the design, development, and support of real
estate investment management and property management software for more than 28
years. With its Yardi Multifamily Suite™, Yardi Commercial Suite™, and Yardi
Investment Suite™, the Yardi Voyager™ system is the most comprehensive single
real estate management platform on the market today. Yardi serves clients around
the world from offices in Asia, Australia, Europe and North America. More
information about Yardi products and services is available at www.yardi.com.
About DIY Real Estate Solutions
DIY, founded in 2007 and based in Cleveland, has created a simple and affordable
set of online professional tools and services specifically designed for
landlords and property managers in the small to mid-sized apartment management
industry. Its customers’ portfolios consist of residential apartment complexes,
duplexes, single family homes, condominiums, student housing, vacation rentals,
retail and commercial properties. DIY has participated in the National Apartment
Association, the National Association of Residential Property Managers, and
other industry organizations.