RF Assists with Elme Communities’ Evolution to Multifamily
Journey from an Owner/Operator to a Multifamily-Focused REIT
September 2023 | Elme Communities’ SVP, IT & CIO Susan Lilly Gerock joined RealFoundations’ Enterprise Managing Consultant Barry Faulkner and Lead Managing Consultants Natalie Wilson and Dominic Hollands to discuss the Operating Model transformation Elme recently underwent — a complex and comprehensive evolution from a diversified REIT to a vertically integrated, multifamily company.
To evolve its Operating Model while altering its portfolio composition and delivering an excellent resident experience, Elme Communities architected its future state business and conducted a diligent Property Management System selection with RealFoundations support. With a disciplined vetting approach, the Elme team selected Yardi and RealFoundations was chosen to coordinate the implementation and project manage the resultant organizational change with Elme. “This was so much more than a technology project, and with so much at stake, there wasn’t an opportunity for failure,” acknowledged Gerock.
Today, Elme Communities relies on a robust and centralized system of record to provide more time to focus on their business intelligence platform to gain portfolio-specific insights and enhance decision-making. This is accomplished to better serve their residents and operate their multifamily business more efficiently and competitively.
Connect with Us
To learn more about this initiative and how we can help your company run better, contact RealFoundations’ Enterprise Managing Consultant Barry Faulkner by email or +1 646 825 7991.
Our Yardi Experience
As a premier Yardi Independent Consultant, RealFoundations has significant experience implementing, upgrading and supporting the full suite of Yardi® products for our clients across various real estate market segments. Our practitioners are proficient in all Yardi Marketing, Property Management, Procurement, Asset Management and Investment solutions. Since 2000, we have completed 80+ Yardi implementations/upgrades and developed unique design workbooks that document cross-module configuration. Our know-how and cross-module experience in various Yardi products empower us to meet our clients’ most important functional requirements and consistently deliver valuable outcomes. To learn more, visit Yardi Solutions for Proven Real Estate Success.
About Elme Communities
Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The company is a multifamily real estate investment trust (REIT) that primarily owns and operates apartment homes in the Washington, D.C. metro and the Sunbelt. Focused on providing quality, affordable homes to a deep, solid, and underserved base of mid-market demand, Elme Communities is building long-term value for shareholders.
About RealFoundations
RealFoundations (RF) is the world’s foremost professional services firm focused solely on the real estate industry. Through our delivery of Management Consulting and Managed Services, we help companies that develop, own, operate, service or invest in real estate make better, more profitable decisions. We are proud partners to over 500 real estate companies around the globe, providing accelerated solutions that solve some of real estate’s most complex challenges. We Make Real Estate Run Better.
