Introduction

Salem Center is a commercial property operator that recently acquired a new asset requiring more internal oversight and financial control. With limited experience using property management software and a reliance on an expensive third-party manager, the team needed help bringing operations in-house. They partnered with Balanced Asset Solutions (BAS) to implement Yardi Breeze Premier, establish financial processes, and stabilize accounting. The result was a reliable internal system, reduced costs, and more control over daily operations.

Opportunities and Collaborative Goals

Transition from Third-Party Management
After acquiring the property, Salem Center wanted to move away from outsourced management and operate the asset internally. They needed support migrating from the old system and setting up internal processes for accounting, rent collection, and financial reporting.

Familiarizing with Yardi Breeze Premier
Although Yardi Breeze Premier was selected as the platform, Salem Center’s team had not used it before. They needed hands-on support to configure the system and understand how to use it for day-to-day operations.

Reducing Ongoing Costs
One of the main drivers for the engagement was cost. The third-party management company had high monthly fees, and the client wanted to eliminate this dependency by standing up their own system and workflows.

Approach

1. Software Implementation and Account Setup

BAS worked closely with Salem Center to implement Yardi Breeze Premier, focusing on immediate functionality and long-term usability. This included:

• Setting up a chart of accounts that matched the property’s structure
• Creating standard workflows for AP, rent collection, and financial reporting
• Configuring user roles and permissions to support internal management

2. Transition and Financial Data Migration

We helped the client move away from the legacy processes used by their former manager. Our team:

• Coordinated data transfers and validated financial history
• Provided guidance on reporting formats to match Salem Center’s needs
• Supported reconciliation of outstanding balances from the transition

3. Ongoing Accounting Support and Training

Once the system was live, BAS continued to provide accounting support. This included:

• Ongoing reconciliations and reporting
• Adjustments to workflows based on operational feedback
• Direct support with Yardi Breeze questions and system updates

4. Stabilizing Operations and Building Efficiency

Cost Reduction:
By replacing the third-party manager with internal workflows and BAS support, Salem Center significantly lowered their monthly expenses related to property oversight.

Improved Reporting:
The new setup gave the internal team direct access to real-time reports, enabling quicker decisions and fewer delays in closing out monthly financials.

Time Reallocation:
Automated processes and clear accounting structures allowed the team to shift their focus to leasing, tenant relations, and portfolio growth.

Results & Impact

Better Operational Control

With full access to their accounting and property data, Salem Center gained visibility into day-to-day financials and could adjust more quickly to operational needs.

Smoother Reporting Cycles

Turnaround times for reports improved, helping the team stay on top of financial reviews and investor communication.

Lower Monthly Costs

The shift away from a third-party firm reduced overhead and allowed Salem Center to reinvest in other areas of the business.

Client Perspective

The overall process went well, though the client noted that a staffing change during the engagement took some adjustment. Once the new team member was up to speed, communication and delivery remained strong. The successful migration away from the previous system was a highlight, and the client found BAS’s knowledge of both accounting and Yardi software especially helpful.

Conclusion

Salem Center partnered with Balanced Asset Solutions to reduce dependency on outsourced management, implement a new system, and improve financial control. With Yardi Breeze Premier now fully in place and supported by efficient processes, the team is set up to manage current and future assets more effectively. The changes not only improved operations but also created long-term savings and more flexibility in how the business is run.