BRAVE for Yardi Users

Yardi's Role in a BRAVE Workflow

Yardi Voyager is one of the most widely deployed property management and accounting platforms in commercial real estate. It runs rent rolls, AP/AR, general ledger, and reporting for thousands of property owners and operators. Yardi is not appraisal software — but its data is essential input for the income portion of a BRAVE file.

This guide covers how property-owner Yardi data feeds a BRAVE appraisal — and what each side (owner and appraiser) needs to do.

What Yardi Reports Map to BRAVE Income Fields

The 16 BRAVE Income fields capture standard appraisal income-approach inputs. Yardi reports map cleanly:

Yardi Report	BRAVE Field
Rent Roll (current month)	Income.PotentialGrossIncome (annualized)
Vacancy Summary	Income.VacancyLoss
Operating Statement — total revenue	Income.EffectiveGrossIncome
Operating Statement — operating expenses	Income.OperatingExpenses
Replacement Reserve line (if tracked)	Income.Reserves
Operating Statement — NOI line	Income.NetOperatingIncome (cross-check)

The 12-month trailing operating statement is usually the cleanest source. Most appraisers also pull the 3-year trend if the property has been on the same platform that long.

What the Property Owner Should Send

If you are a property owner about to be appraised by a Bank OZK or other BRAVE-required lender, send the appraiser:

1. Current month rent roll (Yardi format is fine — most appraisers can ingest the standard Yardi RR export)
2. Trailing 12-month operating statement (income and expense detail, not summary)
3. Year-end 2024 and 2025 audited or owner-prepared statements if available
4. Capex and replacement reserve schedule (if reserves are tracked separately in Yardi)
5. Tenant roster with lease terms for non-multifamily properties

Don't send the entire Yardi database export. Appraisers don't need balance-sheet detail — they need income-statement detail at the property level.

What the Appraiser Does

The appraiser pulls each line from the Yardi reports and populates the corresponding BRAVE Income fields. Two cross-checks are critical and are not enforced by the BRAVE validator at usebrave.org:

• EffectiveGrossIncome should equal PotentialGrossIncome minus VacancyLoss
• NetOperatingIncome should equal EffectiveGrossIncome minus OperatingExpenses

If reserves are separately tracked, the appraiser must set Income.ReservesIncluded correctly to indicate whether reserves are inside or outside the OpEx total. Lenders care about this.

For the full income-field reference, see our BRAVE Income & NOI Fields guide.

Why Yardi Data Is Often Cleaner Than Owner-Supplied Excels

When an owner sends a hand-built Excel pro forma, it often mixes future projections with historicals, includes one-time legal fees in "other operating expenses," or excludes management fees the appraiser will need to add back. A Yardi-generated trailing 12-month statement is more reliable because:

• Revenue recognition is rules-based, not discretionary
• Operating expense categorization is standardized at the account-tree level
• Vacancy is calculated against the rent roll, not estimated

Appraisers should still cross-check Yardi figures against the prior appraisal and against MSA benchmarks — but starting from clean accounting data reduces the back-and-forth.

Multifamily Specifics

For multifamily, Yardi Voyager's "Box Score" report gives the cleanest view of physical occupancy, economic occupancy, concessions, and other income (parking, pet, laundry, RUBS). All of those feed into the BRAVE Income and Property categories.

See our BRAVE Fields for Multifamily guide for the property-type-specific field requirements.

After Yardi → BRAVE

Once the income data is in the BRAVE Income category, the appraiser still needs to populate the 52 Property fields, 24 Value fields, and 4 Appraiser fields before exporting. That export usually comes from Valcre — the platform that created BRAVE and offers native export — or from a manually populated BRAVE Excel template.

To validate the final BRAVE file before delivery, follow our BRAVE Compliance Checklist.