Yardi Systems Acquires RentGrow Inc.

SANTA BARBARA, CA-Locally based Yardi Systems has acquired Waltham, MA-based RentGrow in a deal that will add resident screening and other services for multifamily owners to the list of products and services that Yardi offers for the multifamily industry, according to officials of the locally based firm. Yardi will now offer resident screening as part of its Yardi Multifamily Suite, which―among other things―offers rapid implementation to automate work-flows, provide online services, create electronic transactions, improve productivity, reduce costs and maximize cash flow.

In addition to the newly added resident screening offering, the Yardi Multifamily Suite also includes portals, payment processing, utility billing, procure-to-pay, call center and other products and services. Yardi developed the Multifamily Suite in response to increased interest by its clients to consolidate technology vendors by having ancillary business solutions built in as part of its Yardi Voyager software platform.

Company president Anant Yardi says that the Santa Barbara-based firm, “acquired RentGrow to meet a growing demand among multifamily housing providers to incorporate credit checks, rental payment history searches, background checks, and other applicant screening functions into their core property management system.” Adding RentGrow’s technology to Yardi’s integrated multifamily products “will help our clients operate more efficiently, maximize net operating income, and manage risk,” he says.