Managing a mall is complex. It is not just about the tenants and the traffic the mall attracts. There are many moving parts to consider, from the intricacies of day-to-day operations to the financial goals. With so many malls to choose from, it is a tough market out there, and it is more important than ever that the operations are not only profitable but efficient.

Not leveraging data analytics to make decisions is like missing out on a world of potential.

Yardi is known for its comprehensive property management software, which makes lease administration and tenant interaction a breeze. But it is Yardi’s analytics tool that provides the real value.

Malls are data-rich environments. There are tenant sales, traffic patterns, maintenance cycles, and financial metrics just for starters. Yardi brings all the data together in a way that is easy to understand, giving the insights that are needed to make informed business decisions.

How Yardi Supports Data-Driven Decisions?

Yardi is more than a property management tool; it is a suite of tools that makes it ideal for retail real estate. When paired with data analytics, Yardi provides mall owners and managers with the tools they need to:

Evaluate Financial Performance:

  • Track rent and see trends in collections
  • Run reports on tenant payment histories and arrearage
  • Monitor accounts receivable at a glance
  • Use dashboards to view Key Performance Indicators (KPIs) such as occupancy and CAM recovery rate

Manage Leases:

Related Read: Enhancing Tenant Relations and Lease Management with Yardi Voyager

  • Automate lease administration and ensure compliance
  • Identify upcoming renewal cycles with lease analytics

Evaluate Retail Performance:

  • View tenants’ sales figures against market averages to see how the center is performing
  • Identify top and bottom performers

Understand The Customers: 

  • Examine customer traffic and buying behavior
  • Market to customers in ways that truly resonates with them

The retail shopping center is a unique asset, and the property management approach should be tailored to its specific needs. Yardi’s reporting capabilities are extremely versatile and allow to creation of customized reports that reflect the mall’s most important metrics.

      • Quick Links to Key Metrics: Just like the mall’s dashboard, Yardi’s dashboard can be customized to focus on the metrics that are most important to the retail shopping center. Is occupancy top of your mind? How about marketing ROI? Set up dashboard to quickly and easily view any data that is important to the retail shopping center.

     

      • Drill into Financials: Yardi financial reports provide the details that are needed to manage the mall’s finances. See total income, expenses, profit margins, and accounts receivable at a glance.

     

      • Analyze Tenant Performance: Sales and foot traffic are critical metrics for the retail shopping center. With Yardi, track these metrics and others to see how each tenant is performing. Identify underperforming tenants and take steps to correct the issues before they impact the mall’s overall performance.

     

      • Operational Insights: Yardi reporting also covers operational aspects of the retail shopping center, including energy usage, maintenance requests, and more. Use this data to reduce expenses and keep the mall running smoothly.

     

      • Smart Lease Tracking: Yardi lease reports show when leases are expiring, renewing, and rent changes. Also, run reports on lease profitability to know which tenants are most valuable to the shopping center. This will be gold when it is time to update the leasing strategy. In mall management time is money. Yardi is a time saver that focuses on what matters most. This tool helps in making data-driven decisions and sets up for long-term growth with full accounting.

     

Yardi for Mall Management

Mall management is overwhelming; accounting in Yardi is not.

Related Read: Optimizing Vendor Management in Malls with Yardi Solutions

  • Rent Invoicing and Late Payment Reminders: Yardi automates invoicing and sends reminders to reduce late payments.
  • Multi-Source Revenue Tracking: Yardi tracks rent, utilities, CAM, and other income and expenses to have up-to-date financials.
  • Real-Time Budgeting and Forecasting: Set financial goals, track actuals and adjust forecasts in real-time as market conditions change.
  • Detailed Accounting Reports: View balance sheets, income statements, general ledgers and more to trend and make informed decisions.

Mall management is a tough business. Yardi analytics can help in managing better.

Increase Profit with Smart Leasing:

Link tenant sales to offer tenants percentage-based rent leases. As tenants grow, malls get new revenue streams.

Save with Energy Reporting: 

Identify and target big energy users. Offer discounted rates to harbingers or suggest energy efficient options.

Inform Marketing with Traffic and Sales Data: 

Monitor traffic and sales by area of the mall. Track event and promotion effectiveness. Move marketing dollars to what drives the most traffic and sales.

Manage with Asset Management Workflows for Maintenance Scheduling and Tracking:

Schedule maintenance based on usage patterns. Predictive maintenance scheduling and tracking in Yardi helps to avoid downtime. Keep amenities running.

Conclusion

Mall management can be successfully driven by data-centric decisions. Yardi gives mall owners and operators a full suite of tools that go way beyond property management, allowing them to derive real insights from all their data. Armed with information about tenant sales, traffic, financial performance, and operational efficiencies, mall managers are able to enhance leasing strategies, maximize customer experience, and ultimately profitability. Yardi allows for complicated mall management to be simplified into proactive decisions and future-oriented growth and success.

Why Choose InCorp Global?

InCorp is a Yardi property management solution expert. Our team goes beyond implementing Yardi at the mall – customizing it to the mall’s workflow. The team will set up and configure the system, create automated workflows, and get the most out of the reports. Our experts will train, fix issues, and provide best practices to increase efficiency and ROI, handling the Yardi complexity, so the focus is on the business.

Authored by:
Rahul Vasudev | Managed Services

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