The student housing sector starts the school year in a strong position, as preleasing matches last year’s solid performance and year-over-year rent growth has continually outpaced 2022’s historic growth. Student housing is one of the few real estate sectors to be continually resilient post-pandemic, according to the latest National Student Housing Report from Yardi® Matrix, which is now available for download. You can also join the upcoming Student Housing Webinar with Matrix experts on Oct. 25 and gain more in-depth insight. As of August 2023, 94 percent of beds at Yardi 200 universities were preleased, a 3.3 percent increase from the prior month and 0.2 percent behind August 2022. Rents remained flat in August from July at $845 per bed, but year-over-year rent growth of 6.9 percent in August was still well above the historic average for the sector. “As we enter the 2023-2024 school year, student housing preleasing matches last year’s solid trend and year-over-year rent growth has continually outpaced last year’s historic growth, as well as other property sectors,” say Matrix analysts in the new report. “The sector is in prime position to weather a potential recession, with counter-cyclical demand patterns and solid occupancy and rent growth baked in for the 2023-2024 school year.” Strong fundamentals continue to fuel development, and Matrix projects approximately 40,000 new beds to deliver in fall 2023 at Yardi 200 universities, compared to the 27,000 delivered in fall 2022. Solid preleasing and rent growth suggest that much of the new supply has already been absorbed. Read more findings from the latest student housing report. The student housing data set includes over 2,000 universities and colleges nationwide, including the top 200 investment grade universities across all major collegiate conferences. Known as the “Yardi 200,” it includes all Power 5 conferences as well as Carnegie R1 and R2 universities. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...

Are you ready to revolutionize your company’s training and onboarding processes? Say goodbye to traditional learning plans and welcome the era of multifunctional, cutting-edge assignments that will take your employees’ learning experience to new heights. According to Sapling HR, the average new hire is expected to complete 54 activities during their onboarding process. These activities help ensure the employee is set up for success in their new role. With the latest advancements in learning management systems, it’s time to unlock the power of consolidated tasks and personalized learning paths. Gone are the days of cumbersome paperwork and disjointed training modules. Multifunctional learning plans consolidate onboarding tasks, form completions, training and email campaigns, all while seamlessly tracking progress on a single assignment. Imagine the convenience of having everything your new employees need in a centralized learning plan, where they can refresh skills or revisit resources at any time. So, what exactly can these multifunctional learning plans offer? Let’s explore the various elements that can be included in an Aspire learning plan to make it more inclusive of steps that might otherwise be completed outside of the LMS with less efficiency or consistency: Narrative instructions: Engage your employees through dynamic video and text instructions that provide clear guidance and foster a deeper understanding of the tasks at hand. Self-paced courses and live training: Combine the flexibility of self-paced online courses with interactive live training sessions. Empower your employees to learn at their own pace while still benefiting from valuable real-time interactions. Company policies and resources: Ensure that your employees have easy access to essential company policies, procedures and other valuable resources that help them navigate their roles with confidence. Graded online assignments and quizzes: Assess your employees’ progress and knowledge retention through engaging online assignments and quizzes. Provide immediate feedback and promote a continuous learning cycle. Customizable acknowledgements: Tailor tasks with customizable acknowledgments to recognize your employees’ achievements and motivate them to reach new milestones. Reference content and checklists: Equip employees with reference materials and checklists that serve as handy reminders and support their learning journey. Esign documents and forms: Simplify administrative processes by integrating electronic signatures for documents, forms and checklists, ensuring seamless completion and reducing paperwork. Pre-scheduled custom letters: Strengthen communication and engagement by automating pre-scheduled custom letters that provide personalized updates, encouragement and important information. But why settle for the basics when you can take your learning plans to the next level? Unlock even more potential with these advanced features: Elective steps with “Choose Your Path” options: Cater to diverse learning preferences by offering elective steps that allow employees to choose their own learning paths. Empower them to explore topics that resonate with their interests and goals. Pre-scheduled refresher training campaigns: Ensure long-term knowledge retention and skill enhancement by automating pre-scheduled refresher training campaigns. Keep critical concepts top of mind, solidify understanding and support long-term change. Ensure long-term knowledge retention and skill development by adding pre-scheduled refresher training courses that auto-unlock days or weeks after the learning plan is completed. Surveys, polls and chat groups: Foster a sense of community by creating learning plan task steps. Prompt employees to participate in a chat group or a class discussion thread to fulfill an assignment. Test out for advanced learners: Customize learning paths to accommodate different skill levels. Let advanced learners demonstrate their proficiency by testing out of certain modules, while beginners benefit from hands-on field trips or experiential learning opportunities. Step-specific student nudge emails: Keep your employees motivated and on track authorizing the LMS to send nudge email campaigns when unlocked steps need attention. Available nudges include deadline reminders, encouragement, and tips and tricks. Point rewards and badges: Gamify your learning plans by incorporating point rewards and badges as employees progress through key milestones. Embrace the future of employee development with consolidated learning plans that deliver highly personalized experiences while simplifying access and messaging. Ready to embark on this...

It’s a wrap on the 2023 Changemakers series, which we’ve proudly sponsored for the fifth year in a row. We’re delighted to have joined Senior Housing News (SHN) throughout the series to present the class of honorees — nine in total — sharing their insightful interviews here on The Balance Sheet. To mark the conclusion of the series, SHN released a compilation of exclusive interview excerpts in a brand-new ebook. You can download the ebook today to access unseen stories, insights and advice from each Changemaker. Once again, congratulations to each and every Changemaker honoree — Yardi senior living clients included! Yardi clients named 2023 Changemakers With the ebook available now, it’s only fitting we recognize our senior living clients for their interview contributions — and celebrate them for their role in this year’s Changemakers series.   We’re so pleased to congratulate: Earl Parker of Commonwealth Senior Living Jodi Guffee of Radiant Senior Living Doug Dollenberg, Jr. of Brightview Senior Living Rod Burkett of Gardant Management Solutions Sarabeth Hanson of Harbor Retirement Associates Doris-Ellie Sullivan of Retirement Unlimited, Inc. About the series As the senior living industry navigates ever-changing challenges, owners, operators and executives are breaking the status quo to adapt and evolve. Leaders have created leaner operations, improved efficiency and transformed the way they do business entirely through technology adoption. Through it all, they continue to push the boundaries of what it means to be industry leaders and visionaries. Now sponsored by Yardi for the fifth consecutive year, the Changemakers series recognizes and celebrates the most innovative leaders in senior living today. Learn more about the annual interview series by SHN. Read this year’s Changemakers ebook We hope you’ve enjoyed the Changemakers series to date — we’ve certainly enjoyed sharing each honoree’s story with you. If you’re ready for bonus insights from this year’s Changemakers, explore the ebook. If you have any questions about how Yardi supports operators with our dynamic senior living software — don’t hesitate to schedule time to connect with...

National Assisted Living Week (NALW) is here! If you’re unfamiliar, NALW is an annual initiative established by the National Center for Assisted Living (NCAL) that celebrates assisted living communities and the individuals they serve. The week-long initiative encourages communities to offer events in observance of a specific theme — announced by NCAL each year — for residents, family members, staff and volunteers to enjoy. The inspiring theme for 2023 — Season of Reflection — is all about pausing to reflect on the important things in life, including the special bonds created within assisted living communities. And to no surprise, our Yardi senior living clients are doing just that — encouraging thoughtful reflection through a variety of creative events and heartfelt messages across social media. We’re pleased to share a snapshot of what these fantastic clients have done so far, and we applaud each and every community celebrating NALW this year. Not only do the celebrations spark an appreciation for residents, staff and more — but they also help spread awareness on the importance of assisted living in the U.S. Yardi clients celebrate National Assisted Living Week Thrive Senior Living took to social media in spirit of NALW, sharing an informative video with helpful tips for choosing the right community. They also posted a sweet thank you message on LinkedIn to recognize their associates for changing the lives of residents across Thrive communities. “Thank you to all our AL staff for the helping hands you provide,” wrote Thrive in the post.  Benchmark Senior Living joined the conversation with a thoughtful blog post focusing on the meaning behind NALW — and their devotion to this year’s theme. Sharing the blog post on LinkedIn, Benchmark wrote, “This year’s theme beautifully encapsulates what it means to feel gratitude for all we have and cherish each moment.” Read Benchmark’s blog post on NALW. Maplewood Senior Living also posted on social media in honor of NALW, sharing their excitement for the celebrations to come and noting the value of assisted living for today’s seniors. “We want to emphasize how assisted living can significantly contribute to seniors leading longer, healthier and more fulfilling lives,” shared Maplewood in the post. We can’t wait to see what else our clients have in store as NALW continues! Be sure to keep an eye on social media for additional posts. More about National Assisted Living Week Established by NCAL in 1995, National Assisted Living Week offers a unique opportunity to recognize the role of assisted living in caring for seniors, as well as individuals with disabilities. The annual observance encourages communities around the country to offer a variety of events and activities to celebrate the individuals they serve — and to help educate members of the public about this distinctive aspect of long term care.​​​​​​​​​​​ ​ Each year, NCAL releases a variety of resources to help communities prepare for the week-long observance, including an extensive planning guide with suggestions for activities, media tips and more. Enjoy #NALW! To join the celebration and help spread awareness, be sure to use #NALW on social media! The observance spans from September 10-16. And be sure to check out the #NALW page on LinkedIn to see what’s been shared so far.    From the bottom of our hearts, thank you to those across assisted living for all that you do — Yardi clients included. Not a client and curious to learn how we support communities with our dynamic solutions? Reach out to team...

Earlier this year, Yardi earned an ENERGY STAR® Partner of the Year Sustained Excellence Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy after earning designation as Partner of the Year for five consecutive years. The award recognizes Yardi’s efforts in 2022 to help clients benchmark energy and water usage, obtain green financing, expand their energy management skills at Yardi Advanced Solutions Conferences and incorporate ENERGY STAR into an energy management software dashboard. Yardi was joined by a distinguished roster of fellow Sustained Excellence Award recipients from numerous industries across the country. Here’s a sampling. Commercial food service equipment manufacturer ITW Food Equipment Group of Troy, Ohio, increased ENERGY STAR-certified product offerings across its seven brands, trained its entire staff on ENERGY STAR and promoted the program’s benefits to end-users and distributors. ITW also introduced new ENERGY STAR-certified products, such as fryers and ovens, and marketed the program extensively through press releases, blog posts, website content and social media. Los Angeles-based home builder KB Home built more than 12,000 ENERGY STAR-certified homes in 2022 and generated more than 120 million impressions for an upcoming energy-smart connected community development that will include 200+ ENERGY STAR-certified homes. KB Home also promoted ENERGY STAR across various online platforms. Cenergistic, a Dallas sustainability consulting company, benchmarked more than 1,000 properties and integrated ENERGY STAR into all of its client services. The company submitted 341 ENERGY star certification and recertification applications, implemented energy management plans for its clients and posted ENERGY STAR content on social media. Nissan North America Inc., based in Franklin, Tenn., used ENERGY STAR tools and resources to reduce the energy intensity of its North American operations. The motor vehicle manufacturer achieved ENERGY STAR certifications for two manufacturing plants and hosted energy treasure hunts that identified over 18,139 metric million British thermal units in potential energy savings. Nissan also provided pro bono engineer reviews that helped 16 schools earn ENERGY STAR certification. EnergyLogic Inc., a home energy rating and applied building science company in Berthoud, Colo., provided technical support and training for home energy raters, program stakeholders and other industry professionals to ensure consistent application of ENERGY STAR program requirements. Its building science consultations incorporated trends, materials, systems and technologies that enhanced its clients’ ENERGY STAR success in 2022. The Des Moines Public Schools district in Iowa became an ENERGY STAR Certification Nation Premier Member by earning certification for 36 schools in 2022. The district also saved $1 million in energy costs that year. Financial services provider MetLife Inc. of New York City achieved ENERGY STAR certification for 30 properties, published three white papers on decarbonization and launched a campaign to increase the quantity and quality of portfolio-wide whole building energy data. MetLife also established a target to achieve net-zero emissions for its global operations and general account investment portfolio no later than 2050. St. Louis-based smart thermostat manufacturer Emerson Sensi conducted more than 1,200 ENERGY STAR training sessions for contractors in 2022 and offered ENERGY STAR-certified thermostats that are compatible with major smart home ecosystems such as Amazon Alexa, Google Home, Apple Home and Samsung SmartThings. Sensi also featured ENERGY STAR messaging on its retail products’ packaging. See the complete list of ENERGY STAR Award winners for 2023. Learn how Yardi helps commercial and residential real estate companies achieve their energy and sustainability...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2022, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will bring you the stories of those organizations and insight into how they aid their communities. Today, we are back in Santa Barbara and introduce you to Santa Barbara Channelkeeper, founded in 1999. Santa Barbara Channelkeeper works to protect water quality, restore aquatic ecosystems, advocate for clean water, enforce environmental laws and educate and engage citizens in implementing solutions to water pollution and marine habitat degradation. With a new five-year plan, they are committed to core clean water work and will be adding new work areas to address the impacts of climate change in their region. Channelkeeper’s mission is to protect the Santa Barbara Channel and its watershed through science-based education, advocacy, field work and enforcement. “In addition to actively monitoring pollution levels in waterways along the coast and inspiring the next generation of environmental stewards, we also represent the community’s interest in clean water through advocacy by presenting data and speaking before government agencies to advance policies that better protect the environment, local waterways, and habitats,” said Laura Sanchez, communications director for Channelkeeper. Channelkeeper offers on-the-water education programs that bring science to life for students and leave a lasting impression. “Our Sea and Shore Explorers program connects young people to their watershed and provides them with an opportunity to experience Santa Barbara from a kayak,” said Sanchez. Students learn to paddle a kayak and observe wildlife while navigating around the Santa Barbara Harbor. Students then discover more about coastal marine ecosystems during a visit to the Sea Center. “This year, we lead seven kayak trips, and for many of these students, it was their first kayaking experience,” shares Sanchez. Students also can go on Seafari Cruises aboard Channelkeeper’s boat, where they learn about the kelp forest, pollution and climate change. In addition to educating local students about the environment, Channelkeeper focuses on and prioritizes the following: Monitor local waterways to track down and eliminate pollution sources Working with the City of Santa Barbara to reassess and reduce the number of cruise ship arrivals to meet community environmental priorities Remove trash, marine debris and abandoned fishing gear from waterways and coastline Revive the Ventura River by working to secure a lasting agreement so that the river’s flow in its lower reaches supports fish, wildlife, and the community’s access to nature Secure more vital water quality rules to prevent agricultural pollution Lobster trap clean-ups This past spring, volunteers with the Watershed Brigade, Channelkeeper’s trash-fighting community program, removed more than 2,300 pounds of lobster traps and marine debris from two beaches: Pink Sand Beach on Santa Cruz Island and a stretch of coast between Leadbetter and Mesa Lane in Santa Barbara. When lobster traps accumulate on the beach, they pose a hazard to wildlife and beachgoers. During both cleanup events, volunteers dug out traps and loaded them onto a vessel, which hauled them away for proper disposal.  “For the last three years, we have partnered with the Commercial Fishermen of Santa Barbara to organize lobster trap removals at local beaches identified as “hot spots” for lobster traps,” Sanchez shares. Yardi Volunteer Opportunities Channelkeeper welcomes Yardi employees to partner with them on clean-up events. They also offer opportunities to become MPA Watch volunteers to help them monitor human activity in and around the Channel’s coastal marine protected areas. In addition, join the Watershed Brigade to help keep the Channel’s watershed and the coastal regions clean. With Yardi’s support, Channelkeeper can do the work to protect the Santa Barbara Channel and be an inspiration to future environmental keepers. “Together, we’re making powerful, positive changes for the environment, wildlife, our community, and our future,” Sanchez shared. Find future non-profit profiles...

The U.S. Environmental Protection Agency (EPA) requires commercial and multifamily building owners to improve performance in energy consumption, greenhouse gas emissions, water use among other aspects of building operations. With compliance deadlines approaching, several jurisdictions are stepping up their energy benchmarking efforts. Indianapolis, Miami and New Jersey, for example, have deadlines this year. Deadlines for New York City, St. Louis and Denver come in 2024, with Washington, D.C., Boston and others to follow over the next two years. That’s why the EPA has been working to raise awareness of the importance of aggregated whole building data and ways that states and utility providers can provide it to property owners. This data delivers visibility into energy consumption and helps create a roadmap for instituting ongoing operational improvements. “Demand for this data will grow as building owners seek new federal incentives under the Inflation Reduction Act that require documentation of whole-building performance as a condition of participation,” the EPA says. EPA has also advised states on passing laws that can overcome barriers utilities face in providing data. Such laws can create a path to cover costs associated with providing the data and define requirements to protect individual tenant data. The EPA will launch a full-fledged campaign over the coming months, in partnership with key building owner associations, to raise awareness of the need for this data among state policymakers and utilities. How Yardi can help What is Yardi’s connection to property owners satisfying these EPA requirements? The company’s advanced software and service solutions “simplify the aggregation of whole building data collection and reporting for environmental, social and governance purposes. The first step is gathering data from multiple sources and identifying efficient and inefficient buildings,” says Joe Consolo, industry principal for Yardi Energy. He adds, “Tracking an asset’s performance over time is also critically important. Having received an ENERGY STAR® Partner of the Year Sustained Excellence Award and earned ongoing ENERGY STAR certification for our corporate headquarters, Yardi has the expertise to work with utilities and our client building owners, tenants and residents on these priorities.” Learn more about Yardi’s comprehensive energy management solutions for energy management solutions for residential and commercial...

Yardi’s Advanced Solutions Conference kicked off Wednesday morning with over 4,000 attendees – making it the largest YASC ever – in attendance at the San Diego Convention Center. “We have 4,000 of the best minds in real estate in San Diego this week,” observed Esther Bonardi, a vice president at Yardi, as a packed room eagerly anticipated remarks from Anant Yardi, the company’s founder and CEO; as well as executives Rob Teel, Akshai Rao and Kevin Yardi. Anant Yardi, founder and CEO of Yardi, speaks at YASC in San Diego on Sept. 6, 2023. Photo credit: Julian Thomas, Yardi staff. The YASC opening session always offers an overview of real estate technology trends and insight into how they might play out within Yardi’s single connected solution for real estate companies. This year brought an especially exciting reveal: Voyager 8 is currently in limited release to clients and will be widely available beginning in January 2024. “The biggest thing with Voyager 8 to get excited about is the user experience. The user interface is completely different. It’s a big leap from Voyager 7S. It’s not a leap in terms of the upgrade process, though,” said Rob Teel, president of global solutions. “We are really excited about the upgrade process. This is going to be an opportunity for you to decide which users you want to start using Voyager 8. They can use 7S or 8, so you don’t have to choose. You can allow your users to get comfortable with Voyager 8 as you start to roll this out,” said Akshai Rao, president of residential. Clients were able to get detailed demos and highlights of the forthcoming release in spotlight sessions unique to their real estate verticals on Wednesday morning. In addition to the new user experience and simple upgrade process, Voyager 8 is built for compatibility with artificial intelligence (AI), promising a continual opportunity for real estate companies to use the new technology for efficiency and smoother operations. AI and real estate AI’s implications for business functions like marketing are evident across industries, but what about specific uses for real estate? That question was at the heart of Anant Yardi’s remarks on Wednesday morning. Noting that Yardi is fully committed to making use of AI in the most constructive and beneficial ways possible, Mr. Yardi said that he sees the incorporation of the technology as a gradual one. “The future of AI in real estate is not going to be some big bang type of change, that’s not going to happen,” Mr. Yardi said. He noted that Yardi has already made infrastructure investments that will provide processing bandwidth required for AI systems. Teel and Rao provided a look at Yardi products where AI is already incorporated and will have a growing role moving forward. They include chatbots, which already provide automated answers to prospect questions from multifamily clients; maintenance requests, which could be assigned prioritization and dispatch by AI; and a virtual Voyager assistant who will answer software questions, thanks to AI. “We are fully committed to this change and look at this as an opportunity to grow,” Mr. Yardi said. “Anytime there’s an opportunity to embrace and acknowledge change, I think lurking behind it, you’ll see an opportunity for growth.” Spotlight on corporate philanthropy The general session concluded with a look at Yardi’s corporate focus on philanthropy, which has been a longtime priority for the company. “Our guiding principles over the last 40 years and for the next 40 years are to take care of our clients, employees and communities, and candidly, we don’t often talk about what it means to take care of our communities, so I wanted to take this opportunity to spend a few minutes on it,” said Kevin Yardi, vice president. “We provide funding to our 40 offices around the world and our 9,000 employees help guide funding to nonprofits that are meaningful to...

Multifamily performance was stable in August, according to the latest Yardi Matrix National Multifamily Report. The average U.S. asking rent rose $1 to $1,728, while year-over-year growth fell to 1.5 percent, down 20 basis points from July. Occupancy was also effectively flat. “Economic growth continues to be stronger than expected, providing a backdrop to consistent multifamily demand. U.S. asking rents rose slightly in August, while occupancy rates remained strong at 95 percent,” states the report. These trends and much more will be discussed Sept. 20 in a multifamily-focused webinar with Matrix experts Jeff Adler and Paul Fiorilla. Sign up here to join live or receive the post-event recording. In the short term, supply remains a driving factor in rent growth. Most metros with the highest year-over-year asking rent growth, such as New York, Chicago, Indianapolis and San Diego, have weak new development pipelines. Single-family rents dropped back in August, down $6 nationally to $2,104. Year-over-year, national SFR rent growth fell 70 basis points to 0.5 percent. According to the report, some 190,000 multifamily units have been absorbed in the U.S. through July. That figure is below the record-setting year of almost 600,000 in 2021 but is otherwise a healthy pace. Among the top 30 Matrix metros, absorption in absolute numbers in 2023 has been led by Washington D.C., Phoenix, Miami, Chicago and Denver. As a percentage of stock, Charlotte, Tampa and Nashville are among the metros that have performed the best so far in 2023. Gain more insight in the new Yardi Matrix National Multifamily Report. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn...