October 23 2013
Lehi, Utah (October 23, 2013) - This week Property Solutions became the target of a lawsuit filed in California by Yardi Systems, Inc. ("Yardi"). In the lawsuit, Yardi claims that Property Solutions violated Yardi's intellectual property rights, and, in particular, that Property Solutions violated Yardi's copyrights in connection with the development of Property Solutions' new Entrata(TM) PaaS product. Property Solutions emphatically denies this allegation in all respects and believes that Yardi's other legal claims are also without merit.
For years Property Solutions enjoyed a collaborative relationship with Yardi where both companies worked together to provide integrated solutions for our shared clients. As a fledgling start-up, Property Solutions' nimbleness in software development helped to bring an innovative approach and wealth of new tools to our shared customers. Unfortunately, as Property Solutions developed a broader range of even more sophisticated products that became the preferred solution for many former Yardi customers, Yardi's collaborative approach and great working relationship with Property Solutions deteriorated.
During this period, Property Solutions observed that Yardi began to implement tactics we believe were designed to prevent its customers from freely integrating with third parties. Many of our shared customers found the results of Yardi's actions to be disrupting to their businesses and anti-competitive in nature.
Over the course of many years working closely with all existing property management accounting software options and understanding the drawbacks of clumsy interfaces, cumbersome workflow, and limited browser selection common in such products, Property Solutions decided that it could do better. At great expense, Property Solutions began building Entrata PaaS from scratch. Entrata PaaS is a brand new, elegant, and open software platform that will revolutionize the apartment industry. Property Solutions does not consider it a coincidence that Yardi's windup to litigation began at the precise moment Yardi learned of our plans to release Entrata PaaS.
In our opinion, this lawsuit has everything to do with Yardi attempting to intimidate, restrict, and eliminate competitive and alternative options in the marketplace. Property Solutions affirms unequivocally that not one interface or component of Entrata PaaS was copied from any Yardi software. Property Solutions is certain that it will be vindicated in a court of law and in the marketplace because innovation and fair competition--not litigation--will bring the most benefits to all users of property management software. Property Solutions will do everything in its power to prevent this lawsuit from having any impact on its customers, and we invite any who wish to see the differences firsthand between existing property management accounting software solutions and Entrata PaaS to contact Property Solutions for a demonstration.