UK Honor Nov22

UK Honor

Yardi, a global provider of real estate technology, was proud to accept the Property Management Software Provider of the Year award at the recent Property Week All-Star Management Awards, which took place at the Grosvenor Hotel in London on the 3rd of November. The Property Week Management All-Stars Awards are held annually and celebrate excellence across all segments of the management of real estate – from AST and block residential, multi-occupier office and retail, to industrial and logistics. Property Week is the leading news magazine in the commercial and residential property market. Packed with news, features, opinion and analysis, Property Week keeps readers fully briefed on all the latest information from the industry, including major property deals, development opportunities and investment prospects. Martin Betts, Yardi sales director for the UK & Ireland, was on hand to collect the award recognising the company as Property Management Software Provider of the Year. “We are thrilled to have won this award and believe it reflects our continued commitment to providing innovative solutions focused on enhancing the customer experience and optimizing our clients front and back-office operations,” said Neal Gemassmer, vice president, international for Yardi. “We continue to actively invest in growing the suite of solutions that we provide to the rapidly growing residential ‘build to rent’ sector, as well as staying focused on investment, asset and property management solutions for the commercial market.” Yardi would also like to congratulate several clients that received awards during the evening, including LIV Group, awarded the BTR/PRS Operator of the Year, and GVA, which was named Property Financial Advisory of the...

MS Gong Ride Nov21

MS Gong Ride

When was the last time that you hopped on a bike and cycled nearly 51 miles? Team members  from the Yardi office in Sydney recently completed the 82km bike ride fundraiser, MS Sydney to the Gong. The course traces the southeastern coast of Australia, from bustling Sydney to beautiful Wollongong. The feat of endurance and passion raised funds for those living with multiple sclerosis. Graeme Pearse, Shaunak Kelkar, Zane George, Charobelle Campos and Chris Mumford were among the Yardi representatives. Most of them were cycling novices. “Before getting to the event, it’s important to note that we are novice riders, amateur at best,” shares Mumford. “Some of the team didn’t even own a bike when I first sent an email out to see who was interested. But a bit of training together gave the necessary confidence that we could do the distance.” The iconic race is worth the effort. About 10,000 cyclists get the opportunity to tour spectacular coastline south of The Harbour City. Most importantly, they are able to raise money for a debilitating illness that affects more than 23,000 Aussies. With compassion in their hearts and training as their foundation, the Yardi team prepared to overcome the odds. The odds weren’t favorable. At 7:30am, the Yardi team congregated near the start line, close to the back of the pack along with other beginners. The cyclists, amateurs and professionals, huddled against the cold rain which would last for long periods throughout the ride. Mumford says, “That said, the mood was upbeat with everyone excited about the challenge ahead and being part of something big and knowing this was raising money to a very worthwhile cause. The start, finish and route throughout was lined with many people cheering us on and many of those were living with...

YMF Baltimore

A savvy group of marketers joined us for learning, networking and fun at the bi-annual Yardi Marketing Forum (YMF) in Baltimore last week. During the event, attendees explored the latest trends in digital marketing, tips and tricks to optimize outcomes, and real estate technology. As noted by Esther Bonardi, Yardi vice president of marketing, the event is “all about helping you tap into your inner marketing genius.” Here are some of the top digital marketing themes covered: Get in touch with your audience As marketers, we’ve traditionally divvied up our target audiences by demographic information. In today’s noisy digital landscape, we need to meet our customers where they’re at. Speakers Brad Downs, vice president of marketing for the Baltimore Ravens, and Brad Batesole, staff author at LinkedIn, shared strategies to better reach target audiences. Drawing from his fifteen years of experience in sports marketing, Downs stressed the importance of moving from brand first to fan first. “It’s that fan first mentality. Our fans are incredibly important to us. Fans want to feel as important as they are,” he said. By focusing on fans first, opportunities to engage and foster fandom become easier to identify. Downs demonstrated that life stage marketing goes beyond traditional demographic segmentation, resulting in better customer experiences, tailored events and increased engagement. For the Ravens, life stage segmentation resulted in targeted fan development campaigns focused around women and adolescents. This included Purple, a community building initiative to cultivate the female fan base, and RISE, a football outreach program for local children and high schoolers in emerging Ravens strongholds. Life stage segmentation helped draw 130,000 fans to Ravens marketing events,  development of an international audience, and an average attendance of 71,000 people at each home game. At Wednesday’s marketing master class, Batesole...

SAFE House

Junior League is a woman-operated nonprofit organization that is committed to developing the potential of women, promoting volunteerism, and community improvement. Junior League of Santa Barbara (JLSB), founded in 1924, continues the tradition of leadership and service in the central coast. Several Yardi team members are involved with LSB including Tori Fisher, Sustainer Melanie Calbow, and Kelly Johnson. Johnson has been with the organization for four years. “I joined JLSB because I have always had a passion for volunteering and wanted to find more ways to become involved with the community,” says Johnson. “Through trainings, I have learned to excel in a variety of areas outside of my current job role and am learning to be a better leader.” She adds, “While the international Junior League was first founded in 1901, I think it is more relevant today than ever before.  Our mission remains the same: promoting voluntarism, developing the potential of women and improving communities through the effective action and leadership of trained volunteers.” “We work towards making lasting improvements in the community, just as women did in the early 1900s,” Johnson continues. “Too often we hear about all of the negatives in the world and we need people coming together to make changes for the better.” The organization continues to be a positive force in the community. In 2016, JLSB raised more than $100,000 for local causes. Additionally, the Focus Area Committee at JLSB undertakes extensive research to select a Signature Project, the nonprofit’s most ambitious community service endeavor. One project can take several years. JLSB took on the renovation of Eastside Library as a former Signature Project. Phase one gave the teen space a modern and appealing update. Phase two transformed the basement of the library to a bright, fun, and welcoming space...

Smooth Sailing Nov16

Smooth Sailing

Yardi celebrated the 40th anniversary of Property Council of Australia’s “Property Congress,” a premier event for the Australian real estate industry. Yardi held its accustomed place as Principal Sponsor of the event, which took place in Cairns, Queensland. Several senior members of the Yardi Australia team attended, including Mark Heaney (project manager), Kelvin Manual (regional manager), Nina Feldman (marketing manager), and Terry Gowan (regional director for Australia and New Zealand). Kicking off the event with some fun, Yardi hosted the nautically themed “Welcome Aboard” party on the conference’s first night, welcoming more than 700 industry thought leaders, trendsetters and other experts from all property sectors. Yardi also sponsored a coffee station at the event, keeping delegates and speakers energised. With thought leaders from a broad cross section of the industry presenting, sessions at The Property Congress included: A “View from the Top,” a panel of real estate leaders David Harrison of Charter Hall, Louise Mason of AMP Capital, Steve Leigh of QIC Global Real Estate, Greg Paramor of Folekstone and Caroly Viney of Vicinity Centres. They reported a positive outlook for the retail, commercial and residential sectors, which show strong growth trends despite fears of competition from online retailers. Their message was one of confidence for the year ahead and the real estate landscape in Australia. “Cities for Everyone,” which examined how data from social media, online retail apps and other sources can be used to shape the activities, and therefore the character, of a city. Describing how important live, ongoing information is to creating “Cities for Everyone” for those who work and live in cities, the session provided a fascinating insight into how data can directly shape cities and lives. A presentation by Peta Credlin, Sky News host and News Corp national columnist,...

Disaster Response Nov15

Disaster Response

Automated software is only as capable as the technicians that support it. In the wake of Hurricane Harvey, account managers successfully helped clients mitigate errors and optimize their revenue management software. Yardi RENTmaximizer is a revenue management system that guides property managers on how to price units for ideal occupancy and maximum profits. Yardi revenue managers ensure that the automated system fulfills its potential regardless of external circumstances. Under normal conditions, comprehensive metrics that focus on operational components inform pricing guidelines. In the wake of a natural disaster, however, those metrics are not enough to accurately make informed decisions. Clients’ designated revenue managers then take the lead. On the day after Hurricane Harvey struck the Gulf Coast of Texas, Tracy Hollins, Senior Technical Account Manager, attempted to email several of her clients. She received numerous out of office replies. Many offices in Houston closed due to flooding and damages. Carroll Properties communities were amongst those with out of office replies. In the days following the hurricane, Regional Manager Codi Stepanski received disheartening updates from her team on the ground. “We had every property sustain roof leaks,” said Stepanski. “There were pipe and window leaks, flooding in the basement on one site, and minor flooding on a couple. In total, over 85 residents’ homes were in need of some type of repair out of five assets.” Back at Yardi, Hollins saw more trouble on the horizon. “If clients can’t get into the office because the office is flooded, they’re not going to get traffic. They’re also not going to be signing leases, or potentially signing more leases than normal, because of people being displaced from their homes. They might not want their pricing going crazy until we can get things back to normal.” Hollins collaborated with...

Largest EV Station

Automakers have been hard at work, developing ideas for the cars of the future, but in order for the new vehicles to have a future, a proper infrastructure needs to be designed and put into place. The battery industry is in full swing with more and more scientists getting involved into the development of bigger and better ones, but regardless of their capacity, they all need to be recharged. This means that charging stations need to spring in at least as many locations as the conventional gas stations. Sortimo, a German company headquartered in Berlin, unveiled plans of what’s to become the largest electric vehicle fast-charging station in the world—the Sortimo Innovationspark Zusmarshausen. The project will be located along Germany’s six-lane A8 highway, in the industrial area in Bavarian-Swabia, between Ulm and Augsburg, in close proximity to Tesla’s Supercharger in Jettingen-Scheppach. The electric vehicle (EV) fast-charging station will consist of 144 charging ports, which will allow for more than 4,000 cars to be refilled with energy on a daily basis. Of the planned charging columns, 24 are to be superfast chargers, with a charging capacity of record-breaking 350 kilowatts, meaning that a vehicle battery can be replenished in only a few minutes. Tesla’s ‘Superchargers’ currently stop at about 150 kilowatts, but even though this is more than what today’s car batteries can handle, the company is convinced that both battery capacities and the need for charging infrastructure are growing at a significant pace. Moreover, the Innovationspark will feature offices, shopping and dining areas, serving those who stop to recharge their vehicles. The images accompanying the announcement reveal that the planned station will be topped with green roofs, emphasizing on the development’s care for nature and awareness for the environment. The massive charging station will...

Easier Applications Nov13

Easier Applications

Submitting an application for affordable housing is a daunting challenge. Tax returns, paycheck stubs and bank statements are just the beginning of what applicants must provide to qualify for a unit. Proof of eligibility for housing assistance is a must since public funds often support rents below market rate. Federal, state and local housing agencies have policies and procedures in place that ensure affordable housing resources only serve qualified residents. In the past, affordable housing providers kept files with thick stacks of paper as proof of each resident’s eligibility status. Providers also keep similar files for denied applicants to document why a household was determined ineligible for housing assistance. Affordable housing providers are taking a modern approach to minimize paperwork and staff hours necessary to qualify residents. With online applications, providers are not only saving administrative costs, but also better documenting their resident files and boosting compliance with fair housing regulations. Rather than handing applicants a stack of forms to fill out, housing specialists can now direct applicants to an online portal to submit everything needed to qualify for a unit. RENTCafé Affordable Housing from Yardi makes this possible, and it’s becoming more and more common throughout the industry. Just how big is the RENTCafé Affordable Housing trend? More than 100,000 housing applications have been created online since the product launched in 2016. That’s more than 6,000 per month, and the numbers are growing every day. “Affordable housing applications have evolved from cumbersome, paper-based hassles into easy, online workflows. Applicants can submit documentation from their home computer or mobile device. That freedom saves applicants from taking time off work to come into the office for a lengthy in-person interview,” said Dave Kessler, vice president of affordable housing and PHA at Yardi. “If you consider...

Yardi eLearning Nov10

Yardi eLearning

Five years ago this month, Yardi eLearning was officially launched to the world. Like every successful software product, there is an interesting back story to Yardi’s online staff training management solution. Did you know that Yardi eLearning was originally conceived as part of a MBA thesis by a Yardi employee? Yves Hajjar came to Yardi in 2011, and at the time was working on his MBA. Read Yves’ story here. Patty Evans, manager of training for Yardi, heard of Yves’ masters project shortly after his arrival at Yardi. The two quickly teamed up and began to design what eventually became Yardi eLearning. “I read the press release announcing a new real estate training service we were offering at Yardi. That announcement inspired me to consider how we could create an online learning platform for our clients and staff. Simultaneously, Yves was pitching his masters project to Yardi management as a potential client-facing product for learning management. We quickly connected with each other, and the rest is history,” said Evans. For months, Patty and Yves worked on creating a functional learning management system. Yves focused on redesigning the product’s framework and interface. Patty worked evenings and weekends on the first set of courses. Those courses were eventually launched in October 2012 as Simpson Housing used Yardi eLearning to train employees during their launch of Yardi Voyager. “Simpson was a great experience for us. Their employees and properties are spread across four regions. Yardi eLearning helped Simpson Housing deliver standardized training through a single online interface without the trouble and travel costs of hosting onsite classroom sessions in multiple areas,” said Evans. Over the past five years, Yardi eLearning has grown significantly in number of daily active users, markets supported and number of courses offered. Yardi...

A-Team, Unite! Nov09

A-Team, Unite!

Jessica Krisher, Director of Affordable Housing CSD at Yardi, creates tiny blue “A-Team Flags” by hand. Traditionally, support team members that completed compliance and subsidy certifications received the flags. When they had a question, they would raise the flag to notify their managers. Over time, the flag became a broader symbol. It is a reminder that near or far, members of the team form a support system for one another and their clients. A New Tradition To show their solidarity, a few A-Team members carry along their flag during their travels. The team shares photo ops with the flag when they return to the office. “The A-Team Flags have become like Flat Stanley,” Krisher observes with a laugh, a bit bewildered. “It’s sweet that they take it out on their personal time. They’re thinking about us—though they shouldn’t be while they’re on PTO,” she adds. “But it’s nice that they’re taking the team with them on their adventures.” In pictures, A-Team flags fly on the tops of mountains, wave in the depths of the sea, and appear everywhere in between. Under the Sea Stephen Kearns, Affordable Housing Team Leader, Client Services Department was the first to carry the flag to the ocean floor. During a dive in summer 2016, he planted the A-Team flag in the sands of Palancar Reef near Cozumel, Mexico. When asked why he brought the A-Team flag along, he explains, “I wanted to make people back in the office jealous! Just kidding – well, partially.” After deeper reflection, Kearns adds, “It’s refreshing to see that your teammates don’t necessarily forget about everyone and everything the moment they walk out the door at the end of the day. To share the moments and travels with your colleagues back in the office...

The Benefits of BI Nov08

The Benefits of BI

In September, Yardi clients and employees gathered in sunny San Diego for the fall YASC event. A record turnout made for an exciting three days of product demonstrations, user classes and networking. On the topic of advanced business intelligence software and what’s working for clients, the Yardi Orion Business Intelligence Panel provided salient insights on making analytics available to all stakeholders — and best practices for delivering that data. On the panel were Dana Patterson, director of asset management at ALCO Management, Maria Braun, ERP business analyst at Bigos Management and Lisa Friedman, database coordinator at HCA Management Services. Aaron Wells, the Yardi client services team leader for BI, moderated. Choosing Orion BI over other options Yardi Orion Business Intelligence is a unique mobile-enabled platform that combines financial, operational and ancillary services data from Yardi Voyager to deliver holistic portfolio insight. The system features configurable dashboards with more than 200 key performance measures to choose from, and provides flexible reporting functionality to both desktop computers and mobile devices that enables fast, informed decisions. Dana Patterson of ALCO said, “We saw several demos for BI software before selecting Orion, and discovered that companies using those systems had to hire someone because BI software that isn’t integrated with your property management platform requires staff or a consultant to manually upload data monthly and manage it. We didn’t want to add staff so Orion was an easy choice because it’s built into our Voyager platform. Orion is constantly pulling data, and all staff need to do is log in to access real-time information as well as historical data. No administration is needed, and updates happen automatically.” Patterson explained that ALCO also uses Yardi RENTmaximizer for revenue management, Yardi Payment Processing for electronic transactions and RENTCafé for marketing,...

Meet Brad Batesole Nov07

Meet Brad Batesole

The Yardi Marketing Forum in Baltimore begins November 13! During this sold-out event, multifamily pros from across the country will join us to learn new marketing strategies from expert speakers from both within and without the real estate industry. Brad Batesole will be one of our guest speakers in Baltimore. Brad is the top marketing instructor for Lynda.com and LinkedIn Learning, with over 10 million views on his coursework. He was featured in Entrepreneur Magazine as a young entrepreneur after launching his first successful business at the age of 15 and has helped bring upstarts like LegalZoom, Lynda.com and Warby Parker to where they are today. We recently caught up with Brad before the forum to see what’s exciting him now, both in terms of marketing and our upcoming event: How does your work with LinkedIn impact your ability to speak to different audiences? LinkedIn is home to an incredibly diverse member base — geographically, demographically and career-wise too. There’s a huge opportunity to speak to people that are in different stages of their career and even their lives. I’ve received incredible messages from all around the world and am often left speechless at what people are learning and how they’re applying it to get ahead. Marketing is such a universal topic, and LinkedIn has created the opportunity to teach to a huge audience and learn from that audience as well. Some of what I do can look very one-sided – put a course online, and let people watch it. But behind-the-scenes I’m answering emails, talking with our members and learning more about how people are putting their education into action. What new marketing technology or trends are on your radar right now? I’ll admit, I’ve been rolling my eyes at virtual reality (VR)...

Better Building Nov06

Better Building

As several devastating natural disasters have leveled towns and stalled economies, industry attention returns to smarter building. Construction professionals seek materials that are durable, versatile, and sustainable. An existing concrete product may be the key to better building. Conventional concrete—the go-to material for low- and mid-rise buildings— lacks the combination of compressive strength, tensile strength, and durability needed to withstand high magnitude earthquakes and daily wear. Concrete cracks, crumbles and collapses during earthquakes, leaving high repair costs and the potential loss of life. Researchers at the University of British Columbia (UBC) sought to improve upon concrete without increasing the cost of construction. Their creation, eco-friendly ductile cementitious composite (EDCC), eclipses conventional concrete in three ways. Sustainability Conventional concrete production is a leading contributor to greenhouse gas, totaling 7 percent of global emissions. EDCC replaces 70 percent of cement with fly ash, which reduces the levels of carbon dioxide emitted. Additionally, EDCC reduces land and water pollution. The fly ash in EDCC is industrial waste that would otherwise end up in landfills or dumped into rivers and streams. Strength + Malleability Once dry, EDCC becomes as strong as steel yet is much more flexible. A half-inch thick concrete wall can resist a magnitude 9 earthquake when sprayed with a layer of EDCC  10 millimeters thick, UBC reports. Without the EDCC reinforcement, a wall of that thickness would collapse at 65 percent intensity. Versatility EDCC is a sprayable concrete mixture that can be used to reinforce and support thin concrete walls. Thinner concrete walls expand design possibilities without limiting the integrity of the structure. The spray facilitates easier application and a broader range of uses. Builders and engineers are already using the fiber-reinforced concrete to create in schools and businesses. EDCC can also be applied to...

Procurement Payoff

Cutting costs never loses appeal, even in a robust industry and a thriving economy. Inescapable expenses such as insurance and taxes, along with competitive pressures, have forced property owners to become increasingly creative in finding opportunities to cut costs and work more efficiently. Processing payments for the various products and services that keep properties runningsmoothly is one of those inevitable expenses. This historically has been a manually intensive and paper-heavy process.  Routing one paper vendor invoice through payment can take as long as 30 days and cost up to $35 dollars, according to data compiled by Yardi. With potentially thousands of invoices coming in every month, those costs add up fast for property owners and managers. A recent analysis examined 25 million invoices that about 1 million vendors submitted for processing by Yardi Procure to Pay on behalf of more than 1,000 real estate businesses.  The study offered insight into ways that companies handling small and large volumes of invoices can streamline the process and reduce costs and staff burdens. The Yardi Procure to Pay study found that businesses submitting five or more invoice per month, which account for just 7% of vendors but 75% of invoices, often require accounts payable or property teams that spend significant amounts of time scanning, keying and verifying these large invoice volumes. Even vendors submitting a low volume of invoices—four or fewer per month—can spend an inordinate amount of time on invoices, often repeatedly calling client properties for status checks or sending duplicate invoices until they are paid. All this activity takes up significant time and effort from accounting departments and property-level staff.   Streamlined Approvals Fortunately, the procure-to-pay process has become dramatically more efficient in terms of labor and expense in recent years. Many real estate companies...

Fact or Fiction? Nov02

Fact or Fiction?

It’s that time of year when your team members may start dropping like flies. Coughing, sneezing, headaches, body aches, and congestion—the list of symptoms in the PTO requests may be endless. Revealing the truth behind these common cold and flu myths may help you run a full ship this season instead of surviving on a skeleton crew. At Yardi, we are thrilled to create software that boosts productivity and efficiency. But even the best real estate software on the market is less effective when clients work with a depleted staff. Keep your operations moving smoothly with these tested truths for a healthier workplace.   Fact or Fiction? After the First 3 Days of a Cold, Safely Return to Work: FICTION A publication by the University of California, Berkeley explains, “As a general rule, adults with a cold will be able to infect others one day before symptoms appear and up to five days or so after becoming sick. […] The precise number of days for transmission can vary from person to person.” It is in the best interest of everyone at the office when a sick person takes adequate time out to recover from an illness. This personal time off minimizes the spread of the illness and supports long-term productivity. If personal time off is not an option, self-imposed quarantining may actually prove effective. “If you’re around someone who is sick, stay at least six feet away—cold viruses can’t be propelled much farther than that before falling to the ground,” the publication states. Immediately clean any shared surfaces after use and frequently wash hands with soap and water.   Fact or Fiction? Hand Sanitizer Creates Resistant Germs: FACT Viruses and bacteria naturally evolve. Antimicrobials are not the sole catalysts for “super germs” but they are a...

Acquisition News Nov01

Acquisition News

Yardi announced today the acquisition of WUN Systems, an award-winning and fast-growing leader in the coworking and shared space market. WUN Systems is a provider of a workspace management platform delivering all the tools needed to manage a smart and connected workspace. WUN’s mission is to provide the blueprint for growth and efficiency in their members’ workspace. “We are excited to be part of such a dynamic and growing market segment,” said Gordon Morrell, executive vice president of Yardi. “With shared workspace on the rise, this gives commercial and residential real estate companies the flexibility to explore new revenue streams and customer retention strategies.” WUN Systems’ intelligent workspace management platform delivers the software, hardware, and support services required to open new shared workspaces, improve existing spaces, or monetize vacant or underutilized real estate with the goal to increase revenue, maximize productivity and build community for its members. WUN Systems now serves more than 80,000 members in 700 locations globally. The company’s team of over 90 engineers, programmers, service specialists, project managers and specialists will continue to operate from its offices in the United States, Canada, Mexico and India. “Yardi’s commitment to its clients and wanting to continually improve, innovate and grow is inline with our mission to fuel the space-as-a-service evolution. The synergy between the real estate market and the coworking and shared workspace market makes this relationship a natural fit and strengthens both of our offerings,” said Dale Hersowitz, CEO at WUN...

Walk for Hope 2017 Nov01

Walk for Hope 2017

The 29th Annual Thad & Alice Eure Walk for Hope united people from different paths for life for a single goal: discovering the causes of, and potential cures for, mental illness. More than 3,000 walkers participated this year including eleven Yardi team members. Greg Smith, Vice President, Client Services and Raleigh’s General Manager, shared why he has participated in the event for multiple years. “In 2011 our office was rocked by the suicide of one of our most fun and energetic team members, Tim Owens.  Tim’s death put a spotlight on depression and mental health for me. In the days and weeks after, our team members came together to support each other and share.” Mental illness affects as many as 1 in 5 American adults. It wasn’t until the death of Owens that Smith realized the scope of mental illnesses in the United States. “It’s not just depression,” Smith reflected. “There’s PTSD, postpartum depression, eating disorders, schizophrenia, anxiety – the list goes on and on. But unlike when someone has cancer or arthritis, there’s a stigma associated with mental health. People are embarrassed, even though these are real health problems that can be diagnosed and in many cases treated.  The result of that stigma is that people don’t get help.” “The Walk not only raises money for medical research, but it also raises awareness and gets conversations going,” said Smith. All of the funds raised by participants directly benefits local mental health research at the UNC-Chapel Hill Department of Psychiatry. To date, the organization has donated $5 million to 128 research grants. The grants leveraged an additional $145 million from the National Institute of Health. The nonprofit has also donated more than $320,000 to 36 local community service grants. Yardi team members that participated in the event included...

Retail Management Oct31

Retail Management

As modern landlords strive to drive footfall and revenues in their shopping centers, they are using sophisticated new tools and techniques. Astute use of data can lead to better-informed decisions – but how is the impact of this new discipline being felt across the property industry? Yardi brought together a panel of thought leaders in the sector in a round table event in central London. Fiona Hamilton, global head of retail for international brands, BNP Paribas Allan Lockhart, property director, NewRiver REIT Charles Maudsley, executive director, head of retail, British Land Sophie Ross, group head of multichannel, Hammerson Ailish Christian-West, head of portfolio, shopping centers, Landsec Claer Barrett, personal finance editor, Financial Times (chair) How widespread is the use of data becoming within physical retail assets? SR: It’s relatively easy to capture data – it’s much harder to add value. I would say that only around 20 percent of the data gathered by landlords is being used effectively. CM: Data is just the starting point. At British Land we collect and analyze more data than ever before about shopping patterns, demographics and spending. We replay that to retailers. Anonymised mobile phone signals can show us a heat map of where shoppers are in the center, and point to linkages between retailers. For example, our brand profiling shows TK Maxx and Pret a Manger are highly correlated. TK Maxx in Hinckley – would an adjoining Pret boost their sales? We can measure conversion rates – the number of people who pass a store versus the number who actually go in. We can say to a retailer, it’s 30 percent in your shop, but it’s 90 percent elsewhere, so let’s find out why. We can show retailers looking to open a store with us how their...

Feeding SB County

Members of the Yardi Marketing team gathered for a two-day conference in sunny Santa Barbara. As the conference drew to a close, the team celebrated with a volunteer service event at The Foodbank of Santa Barbara County (Foodbank SBC). Foodbank SBC is moving the community from hunger to health. The organization is “not only feeding but teaching how to fish.” Leslie Velez, Development Coordinator, explained, “Our motto means that the Foodbank helps clients move beyond a state of food insecurity through education and resources. With many of our programs, food distribution is offered alongside nutrition education, cooking instruction, exercise classes, and connection to support services like CalFresh and blood sugar testing. We want clients to have the tools they need to live healthy lives.” Foodbank SBC first works to ensure that clients have access to enough healthy food to feed a family. Of 10 million pounds of food distributed each year, half is fresh produce donated by groceries and local farms and gleaned from people’s homes. To continue the fishing metaphor, the organization has also created “the net,” a network of partners. Members include gardeners, many of who are Master Gardeners, who teach gardening classes year-round. Budgeting classes are led by a partner nonprofit to help people shop smart for food. The Foodbank also issues “fishing” tools, programs for growing food, preparing food, and using food in a way that improves food security. The Feed the Future initiative encompasses six educational programs geared towards youth and teens. Food Literacy in Preschool and Healthy School Pantry collaborate with local schools to promote access to fresh produce and provide an enhanced understanding of nutritional intake. Healthy School Pantry serves more than 8,000 clients. Kids Farmers Market gives kids an interactive experience with growing fruits and vegetables, selecting...

Countering Threats Oct28

Countering Threats

A panel of corporate security experts held a recent Realcomm-hosted webinar to discuss strategies for managing cyberattacks to buildings that are increasing in frequency, sophistication and impact. Don Goldstein, senior vice president of IT for CBRE, recounted how the “Not Petya” ransomware attack of June 2017 encrypted hundreds of thousands of computers around the world and shut down whole networks and systems for weeks.  With the damage still being added up, the initial $850 million economic cost estimate could rise. “Not Petya hit all verticals, from nuclear plants and pharmaceutical firms to steel makers, consumer lenders and law firms,” Goldstein said.  Cautioning against disaster fatigue, he added, “We need to get people to think about and prepare for this type of event.” Ryan Allbaugh, business initiatives consultant for Wells Fargo, said that because internet of things (IoT) connected devices don’t have traditional IT operating systems or antivirus and antimalware, cyberattacks are “no longer an IT problem, but an operational problem” for every part of the economy. As we see more IoT connections, everything is vulnerable, from remote lighting control to elevator and video surveillance controls, Allbaugh noted.  “The challenge with IoT is that these systems often lack centralized visibility, and doing something as simple as getting a physical inventory can be a challenge,” especially with widely dispersed properties.  He outlined the National Institute of Standards and Technology Cybersecurity Framework, which offers guidance on assessing and improving prevention, detection and response to cyberattacks. Lorie Wigle, general manager for Intel, noting that “one company can’t solve this on its own,” urged collaboration and information sharing among IoT participants.  “We need to have ongoing lifecycle security management services in place to continue to measure and detect compromises to components of end-to-end services,” she said. Given that there’s...