Canadian Influence

Meet Zach Scott. As vice president of programming for Yardi in Canada, Scott leads a team of engineers conducting research and development. This diverse group, primarily located in the Saskatoon and Vancouver offices, works diligently on designing and coding features for some of our leading edge solutions such as Yardi Matrix, Pulse, and IoT.  Read on to learn from Scott about some of the fascinating work they do to improve Yardi’s proptech platforms on a daily basis. Are these solutions used primarily in the U.S. or throughout North America? Scott: Over the last two years these products have gained in popularity within the Canadian real estate industry and leadership at Yardi Canada is ready to support the need. Tell us about your team’s involvement in Yardi’s early development of the Internet of Things (IoT) platform? Scott: In 2018, as part of a one-month moonshot challenge, we designed a hub and built the software that now serves as the core of Yardi’s IoT platform. The hub sits in an apartment unit and bridges communication between the various smart devices in the unit and Yardi’s cloud-hosted software. We can’t reveal much about how the hub works or what exactly went into making it but what I can share is that in addition to building software solutions, Yardi has now entered the era of building hardware that connects our clients’ buildings to their business workflows. What do those efforts look like today? Scott: Every month, Yardi ships IoT hubs to be installed at client properties. With hundreds of hubs operating 24/7 today, the team has successfully turned an idea into reality. We continue to add features guided by client feedback. We also have a list of enhancements we’d like to add to the hub, features like Wi-Fi...

Exceptional Resident Experiences Sep23

Exceptional Resident Experiences

Get Living creates exceptional communities and neighbourhoods across the United Kingdom. Places where people can live their best lives, homes they feel they belong in, and communities they can connect in with people. The team at Get Living understand the important role technology plays in connecting residents to their communities and that delivering exceptional resident experience goes hand in hand with adopting efficient technology. We caught up with Chris Armstrong, Chief Experience Officer and Steven Osei Head of Brand Experience of Get Living to ask them how they use Yardi’s technology to improve resident experiences and business processes. “We’ve been working with the team at Yardi since 2016/2017, using a wide variety of the solutions they provide, across the entirety of our estate. We invested heavily into Yardi’s solutions to help us grow as a business and to really deliver consistency of experience,” commented Chris Armstrong. Osei expressed that since utilising Yardi’s technology, the team at Get Living have been able to reduce the steps in the applicant journey by 300%. He also explained the importance of adopting technology to achieve Get Living’s growth goals, “As a growing and scaling business with the aspirations of having 12 to 15,000 homes it’s imperative that we have the tools in place that enable us to display real time availability of homes that we have available”. Armstrong also commented that over 4,500 of their residents are registered on the RentCafe Resident App which has given their residents the platform to interact with them on a 24/7 basis, “It’s always there for them, it’s always on.” Armstrong explained that they monitor resident satisfaction by surveying residents using the resident app; freeing up their teams to focus on hands-on customer service. “The best technology is the technology that you don’t know is there, it fades into the background. That’s why we work really hard with Yardi as a partner to make that technology seamless and easy for our teams and our customers to use.” As well as explaining how Yardi’s technology currently benefits their staff and residents, Armstrong also detailed future adoption plans which will see improvements in procurement process and allow for more flexible leasing with Yardi’s technology. Watch the...

Driving for Net Zero Sep22

Driving for Net Zero

Every single person in Lendlease’s 11,000-strong team has their sights set on net zero emissions by 2025. It’s a huge undertaking – one which will be impossible without the help of technology and data. This puts Richard Kuppusamy and Helen Lam – two of Lendlease’s digital leaders – in the driver’s seat as they help steer their company towards Mission Zero. Bernie Devine, regional manager for Yardi in Asia Pacific, recently caught up with the pair as part of the latest installment of Yardi’s Proptech Insights series. A big pivot Lendlease must meet its first net zero target in four years – an aggressive but “very deliberate” decision, Kuppusamy told Yardi’s audience. “Everyone who is in Lendlease today has to deal with this problem,” he emphasized. And it’s a big problem for everyone in the real estate sector, given the global built environment is responsible for almost 40% of the world’s emissions. But Lendlease – which designs, constructs and manages buildings on four continents – is in a rare position of influence across the entire development lifecycle. It is for this reason that Lendlease’s technology strategy is watched by the entire industry with interest. Kuppusamy joined Lendlease in March as Head of Lendlease Digital Asia and is based in Singapore. He oversees leadership, management and performance of Lendlease’s digital business unit across the region – and that includes Lendlease’s new property lifecycle platform, Podium. Podium links everything from building plans and construction programs to the results and realities of operation. It is the foundation of autonomous buildings, he noted. Podium supports data-driven decision-making “at every touch point” of the property lifecycle and is the key to economic and environmental sustainability. With Podium, Lendlease is “pivoting” towards a future as a “software engineering firm,” Devine observed. And that means data is now one of Lendlease’s greatest assets. Data rich, insight poor Globally, the real estate sector remains “data rich and insight poor,” Richard observed. “There are a lot of solutions, but they are all very siloed.” How do we dismantle these silos and unlock the “proprietary data jails,” as Kuppusamy called them, for a greater common good? “It’s not just about sharing – but about sharing in a meaningful way.” The industry must move away from technology that solves “spot solutions” or “siloed problems,” Helen added. “In real estate there are no silo problems – they are all interrelated.” While many systems capture data, only “actionable insights” deliver value, Kuppusamy said. Devine agreed. “I always say to our clients: ‘We deliver actionable insights, but it’s up to you to take action.’” As Head of Innovation and Development Practices in Asia, Helen Lam is responsible for identifying new ideas to be researched, tested and integrated into the way Lendlease works. One of the projects currently underway is to eliminate diesel – which is “really dirty, noisy and hazardous” – from construction sites. “We don’t have the inhouse tech to solve it all ourselves,” so Lendlease is partnering with an Asian start-up with an advanced compact and connected lithium-ion battery system. The technology eliminates 80% of onsite emissions, “is much quieter and emits zero fumes,” she explained. Data can also aid “macro decisions” that deliver a better experience for people, alongside those that are best for the planet, Lam added. Lendlease has installed Internet of Things technology in restroom facilities in retail malls across Asia, for instance, to better understand peak loads. From this data, Lendlease has enhanced the customer experience, while also “making better procurement decision around our contract negotiations and reducing operational expenditure.” Self-driving buildings Devine pointed to the use of digital twins as another tool that can help the real estate sector move towards net zero. In May, Ernst and Young reported that digital twins could save up to 35 percent on project and building costs and reduce city-level carbon emissions by between 50 and 100 percent. Lendlease has...

Yardi EHR

With COVID-19 vaccines readily available across the nation — and with vaccine mandates becoming more common — senior living providers have an important job to do. They’re tasked with helping residents receive vaccinations, offering resources and lending support. But how can providers manage the process? Monitor symptoms? Track vaccination statuses? It’s all possible thanks to the latest upgrades in Yardi’s electronic health record solution. Tracking vaccinations with Yardi EHR Yardi EHR is a full-service solution that helps providers deliver the best resident care. And with the ongoing pandemic, the newest functionality in managing resident vaccinations may be most helpful for today’s providers. With the system’s latest infection surveillance and immunization dashboard, providers and senior care staff can document essential information relating to COVID-19 and other diseases. More specifically, staff can … Document if a resident has received, declined or missed COVID-19 vaccination appointmentsCollectively schedule vaccination appointments and track follow up assessments for community-wide vaccine clinicsBulk chart vaccine administration during clinicsLog information on a resident’s side effects post-vaccineIdentify residents who show symptoms consistent with COVID-19Send alerts to the dashboard when COVID-19 symptoms are documentedRecord when residents receive booster shots for their COVID-19 vaccineAdd indicators for other infectious diseases — all populated to the dashboard in real-time Best of all, the assessments are built-in and easy to navigate. Each assessment incorporates Centers for Disease Control and Prevention (CDC) guidelines for administering COVID-19 vaccines. If you’re an existing Yardi EHR client, adding the infection surveillance and immunization dashboard couldn’t be easier. The implementation and training process is quick — and efficient. This is especially beneficial for providers today, given the roll out of COVID-19 booster shots is around the corner. Senior living providers are navigating the pandemic day by day. And while there are many challenges, managing...

Contributing in Canada Sep18

Contributing in Canada

When it comes to teams, families and communities, communication is a key factor for success. In-person and virtual soft skills are steadily growing in importance. Yardi team member Meherzad Bakht is teaching youth how to embrace a healthy lifestyle and improve their virtual communication skills. Simultaneously, he’s honing his own soft skills and furthering his career. Overcoming challenges with tech Bakht is a Yardi Voyager sales representative based in Toronto. He’s celebrating eight years with the company. He began his career with Yardi because it brings together his “passion for real estate, sales and technology into one position.” On a typical day, Bakht learns the needs and tech requirements of prospects and clients. He then aligns them with the best technology solution(s) to help them achieve their goals. Through his work, it’s clear that he cares about helping people overcome challenges. Game On! Bakht expresses that care through community involvement. He volunteers with Greater Toronto Big Brothers, Big Sisters Game-On after school program. This virtual mentoring program is for boys ages 11 – 14. The youth learn the foundations for making healthy choices, such as physical activity, nutrition, and emotional intelligence through discussion. “I knew I wanted to work with kids and give back to the community through mentoring,” says Bakht. “Over the last several months, I have enjoyed sharing my experiences with these kids and just being a resource. This is something I didn’t have when I was growing up and I know how important that could be in someone’s life.” Join Bakht in supporting Big Brothers, Big Sisters by making a donation. Bakht understands that sometimes, youth want to talk to someone who is outside of their immediate group of friends or family. The fresh perspective on past experiences and guidance is impactful at that age. Bakht recalls one of his favorite activities, making stress balls with the kids. The organization sent the supplies to participants. Virtually, Bakht guided the kids in how to make the sensory tool using a water bottle, flour and a balloon. During the activity, they all chatted about what was on their minds. “This was a really fun experience when we are actively working together and it was great to teach them problem solving skills,” says Bakht. He continues, “I actively worked on communication and listening. They really go hand-in-hand. Youth at this age can be easily distracted, especially in a virtual environment. We have to work on keeping them engaged and active. That’s why creating the stress ball with them was such a great experience.” Mentoring offers transferrable skills “My experience with Game On is a great way for me to get additional practice for collaborating with others, internally or externally, in a virtual world,” reflects Bakht. “These are great skills to practice because as a senior account executive, I need to be able to listen to and understand our clients’ needs to communicate how Yardi can best help them.” Over the last two years, the use of property management technology has grown. Many organizations have implemented, disparate systems. Some don’t know that a fully integrated property management, accounting, leasing and marketing solution is available. But Bakht works with clients wherever they are in the tech adaption process. Once he understands the bigger picture, he can help clients reduce touchpoints, gather reliable data and reporting—all via remote access. “Technology can be a true problem solver. And my work with Game On has improved my virtual communication skills so that I can even better serve our clients.” Tips for getting involved Bakht encourages community involvement, and not to be daunted by preparation. “If others are looking to volunteer and give back to the community, I would say don’t overthink it. Do some research, see how much time you have and reach out. These organizations are in need of volunteers, so they will work with you to align your goals, skills and how...

Ready, Set, Succeed! Sep17

Ready, Set, Succeed!

Yardi Atlanta has done it again! Team members have joined forces to help students of a local school beat the odds. Through their efforts, disadvantaged youth are able to start off the year with the tools needed for success. Mimosa Elementary School: overcoming the odds Mimosa Elementary School thrives because of dedicated teachers, engaged students and active parents. The academic growth of Mimosa students is higher than 74% of schools in the state, and higher than its district. About 34% of its third-grade students read at or above the grade level target, an important milestone for youth. Mimosa Elementary School is Beating the Odds, meaning that it performs better than similar Title 1 schools. The school receives 4.7 stars on Google reviews, mostly from pleased parents. Mimosa Elementary School challenges public perception of a Title 1 school. The student body, with fewer than 800 students, rests within an Economic Opportunity Zone. Most families have incomes below the poverty line and approximately 95 percent of students qualify for free or reduced lunch rates. But the school isn’t a place of lack. Yardi Atlanta’s Back to School Supply Drive Economic challenges are met with resourcefulness, creativity and community support. Yardi Atlanta is a proud sponsor of Mimosa Elementary School. Each year, team members raise funds and buy supplies to support the Back to School Supply Drive. In its second year of remote employment, Yardi Atlanta remains dedicated to addressing real-world issues. The School Supply Drive Committee organized a virtual fundraiser to gather supplies for disadvantaged students. Participants could send donations via an electronic platform, submit cash donations through HR or supply item donations to the local office. By any means available, Yardi team members showed their support for local students. A virtual fundraiser for a largely remote group has its challenges....

Reconfiguring CRE Sep16

Reconfiguring CRE

How will the commercial real estate environment in Canada be reshaped as workers gain the option to return to their workplaces? Some clues are already evident. Amid the pandemic’s disruption of economic sectors and lives, it seems that many workers adjusted well to the enforced work-from-home environment. One workplace research study found that nearly two-thirds prefer either to work from home or in a home/office hybrid environment. Business are rethinking their space needs as a result. Other studies suggest ways that the pandemic shifted attitudes. For example, one survey revealed that 27% of Canadian workers feel their careers have stalled since the start of the pandemic and nearly half feel burned out, prompting concerns about team cohesion and employee retention. At the same time, more than 60% of employers consider increased worker turnover an emerging problem. Other property owners and tenants are weighing the implications of maintaining rigorous distancing and cleanliness standards. Gensler, a global architecture, design, and planning firm, notes, “We now value space and the experience of being together more than ever. The office matters as a place to come together with each other for a common purpose. And for employees, choice, privacy, unassigned seating, and health and well-being are top of mind.” Investors, meanwhile, are keeping an eye on potential new opportunities, with MSCI estimating the inventory of managed real estate held for investment at CAD $546 in 2020, a CAD $3.6 billion gain from 2019. Employee restiveness, shifting workplace expectations and health factors are spurring many property management companies to rethink operations in areas ranging from employee amenities and tenant service to investor relations and vendor management. As professional services consultant Deloitte says, “The development of emotional connections between employees and their place of work, post-COVID, will lead to lower...

3D-Printed Housing Sep15

3D-Printed Housing

Habitat for Humanity is leading the way on innovative housing solutions. The Tempe branch is exploring 3D-printed ranch-style homes to address a growing need for housing. The flagship structure demonstrates the efficiency and beauty of combining conventional and 3D printer construction. It takes a village to print a 3D house The three-bedroom, two-bathroom house was designed by Scottsdale-based Candelaria Designs and printed by PERI group of Germany using a Build On Demand (BOD2) printer. More than 20 sponsors provided funding. The house contains 1,738 square feet of living space and a total of 2,433 square feet for the project, reports the nonprofit. Of the total square footage, 70-80% of the house will be 3D printed. The BOD2 works alongside construction crews and volunteers. It uses the gantry principle, which allows it to move in any position within the structure, printing inner and outer walls in thin layers. As it prints, human workers can continue their electrical, plumbing and other tasks. Humans will also install the ceilings. Construction is scheduled for completion in October 2021. Explore Habitat for Humanity’s earth-friendly passivehaus design. For now, the BOD2 house at 677 W. 19th St. will be one-of-a-kind. The 15 adjacent homes will be traditional builds on four city lots. Habitat for Humanity has made it clear that more 3D-printed homes are of interest. The project is a direct response to an acute affordable housing crisis in the area, reports the nonprofit. About 20% of renters are considered extremely low income. Of them, 75% of households are severely cost burdened. The phrase is used by the National Low Income Housing Coalition to describe renters spending more than 30% of their income on housing. The state would need more than 136,000 affordable units to safely house extremely low-income renters. Scalable, affordable...

Video Resumes Sep14

Video Resumes

Have you noticed the newest ways to recruit talent online? LinkedIn and TikTok have both launched video resumes that change the face of talent recruitment. Video resumes on TikTok and LinkedIn TikTok Resumes is currently in the pilot stage, but it is already gaining attention from major employers. The platform permits users to apply for job openings via a three-minute video resume. Major brands such as Target, Shopify and Chipotle have already begun to accept applications. The TikTok feature comes on the heels of LinkedIn video integration. Employers create a job posting that they can supplement with a Video Intro. Then employers can invite qualified applicants to submit a Video Intro that answers up to two interview questions. These invitation-only videos expedite the hiring process by decreasing scheduled, live interviews. LinkedIn reports that employers and candidates enjoy Video Intro. They find it so helpful that 70% of job posters reuse the features in subsequent job postings. About 80% of candidates opt for video responses. Real estate professionals buy in Real estate firms are investing in video postings and resumes. Downtown Apartment Co., a Chicago-based brokerage company, uses TikTok to modernize and diversify its recruiting practices. “We just posted our first TikTok hiring video in which our agents and leaders share their thoughts about why DAC is a great place to work. We’ve already seen success using TikTok, so we’re definitely interested in seeing how TikTok Resumes will work and how we might use it to enhance our recruiting efforts,” said Ben Creamer, co-founder & managing broker at DAC. Read the full story on TikTok resumes on Multi-Housing News. Why post job openings and accept video resumes via social media? Posting a job opening on social media meets applicants where they spend much of their...

September Marks

Alzheimer’s is a devastating form of dementia currently affecting millions of people worldwide. But despite being universally known, the disease can be misunderstood and met with stigma.   With that, in an effort to raise global awareness, people are coming together for World Alzheimer’s Month. Led by Alzheimer’s Disease International (ADI), the month-long campaign takes place during September each year. ADI’s goal is to provide impactful information and challenge persisting misconceptions. This September marks the 10th year of the global awareness campaign. September 21 also signifies World Alzheimer’s Day, in which ADI launches their annual report to help educate the public.    Raising awareness To drive the awareness campaign all month long, ADI works with associations across 120 countries. They aim to support people living with dementia, along with their dedicated caregivers and related organizations. The campaign calls for dementia to be the global health priority it needs to be. And this year’s theme, “Know Dementia, Know Alzheimer’s” focuses on the power of knowledge. The theme is present in ADI’s World Alzheimer’s Report for 2021, which stresses the importance of understanding warning signs and getting a timely diagnosis. The report also raises challenging questions for healthcare systems, governments, care managers and researchers — including powerful testimonies from those living with the disease.   Getting involved ADI is sharing creative ways to get involved in this year’s campaign. Given the ongoing pandemic, most are virtual, but still a fantastic opportunity to join the conversation. You can … Engage with ADI on social media, as well as national Alzheimer’s associationsShare your own thoughts, advice and experience with Alzheimer’s in online communitiesSpread the message by using ADI’s official hashtags, including #KnowDementia, #KnowAlzheimers and #WorldAlzMonthShow support by attending a virtual event, such as an online memory walk or...

Livable Communities Act Sep13

Livable Communities Act...

The Livable Communities Act of 2021 aims to develop transit alongside affordable housing, creating more efficient and equitable access to major job hubs and neighborhoods. The act attempts to tackle two contentious issued for Americans. The Livable Communities Act of 2021 The first step is to create an Office of Sustainable Communities within the Department of Housing and Urban Development (HUD). The division would “promote interagency coordination on the development of affordable housing, transit systems, and other community needs.” The Office of Sustainable Communities would have its own credit facility. From there, regional development grants would be available through the Comprehensive Planning Grant Program. Eligible recipients would demonstrate partnerships between local governments, city planning, and Indian Tribes (where applicable) and other community members to create “sustainable, affordable housing with access to transit.” In addition to sustainability, the Act includes a clause to prioritize health-conscious housing and reduce housing-related health hazards. The Act reserves 25% of funding for high-poverty communities. Such areas are greatly affected by long waitlists for affordable housing as well as a lower quality of living and a high concentration of health concerns. Sen. Bob Menendez (D-N.J.) introduced the legislation supported by Sens. Catherine Cortez Masto (D-Nev.), Chris Van Hollen (D-Md.), Ron Wyden (D-Ore.), Jack Reed (D-R.I.), Kirsten Gillibrand (D-N.Y.), Alex Padilla (D-Calif.), and Richard Blumenthal (D-Conn.). Menendez says, “Our communities are stronger when hardworking families can afford to live close to where they work. As the nation faces an affordable housing crisis, we don’t want to see teachers, first responders, grocery store clerks, restaurant staff, and other essential workers be priced out of the neighborhood.” He continues, “Creating ‘livable communities’ is all about connecting workers to good-paying jobs through expanded affordable housing options and access to good public transportation by inextricably and...

High Aspirations Sep10

High Aspirations

Canadian residential property manager QuadReal Property Group uses Yardi software as a single connected solution for managing multiple business operations, including utility expense management, procurement, deal pipeline management, budgeting and construction management. QuadReal recently moved to bolster its team’s professional development by adopting another solution – Yardi Aspire, which the company brands internally as Excelerate. Aspire centralized QuadReal’s training initiatives in everything from Yardi software and leadership to new-hire orientation and supervision management skills. “Prior to Aspire, people learned on the job or through ad hoc means. We’re using Aspire to bring a much more structured approach to it,” says Dean Holmes, senior vice president of residential operations for QuadReal. “There’s a significant amount of content pre-prepared within Aspire so we don’t have to start from scratch and create it all ourselves. It’s user friendly, adaptable to QuadReal’s branding and has been well accepted.” QuadReal measures its success with Aspire by proficiency that the workforce has achieved, especially in using Yardi software, the company’s principal Aspire focus so far. “We track our business performance and overall proficiency with systems and processes on a continual basis and have gotten rave reviews from our field and corporate teams on the quality of the content and the ease of use of Aspire. We’re getting a ton of mileage out of it and it’s our platform of choice for all our training,” Holmes says. Aspire assumes even greater importance in the aftermath of the pandemic. “We were decentralized even before COVID and it’s going to continue to be challenging to get everybody in the same room when it’s over,” Holmes notes. “We’ll do things in person when we can but Aspire will continue to be our primary platform for delivering training and content across our company. It’s an...

National Assisted Living Week...

The senior living industry has faced unprecedented challenges this year. And while the ongoing pandemic changed the way assisted living staff provides care, these individuals have remained dedicated to residents and their families. They’ve continued to provide the highest quality care without fail. To honor these heroes — individuals who reside, work and volunteer in assisted living communities across the country — the National Center for Assisted Living (NCAL) leads a nationwide celebration each year. Known as National Assisted Living Week (NALW), the 2021 celebration will take place from September 12-18. Each year’s celebration has a theme, too. NCAL has deemed “Compassion, Community, Caring” as the 2021 theme given the endurance and resilience of staff members during the pandemic.   About National Assisted Living Week Established by NCAL back in 1995, NALW provides a unique opportunity for residents, their loved ones, staff, volunteers and local communities to celebrate senior living staff. The annual observance encourages assisted living communities to host a variety of events to honor the individuals they serve, while educating the public about long term care. This year’s celebration The NALW theme for 2021 — Compassion, Community, Caring — represents the resilience of assisted living heroes. The pandemic has created some of the most trying situations we’ve ever known, but these individuals stayed strong. This year’s NALW is the perfect opportunity to show thanks. And while NCAL encourages assisted living providers to modify events with COVID-19 safety protocols in mind, they’re still advocating that communities come together. They’re offering inspiration through their annual planning guide, a free online packet with ideas for how to recognize staff, honor residents and commemorate NALW in a safe and meaningful way. Here’s a few ideas outlined by NCAL: Engage residents in creative art projects to promote...

Veteran Celebrates 100th Year...

It’s not every day one celebrates their 100th birthday. For Pacifica Senior Living resident Theodore Albertus Mertz, a World War II veteran, his 100th year was commemorated in style.   Pacifica Senior Living is a dynamic organization with communities across the U.S. Utilizing Yardi solutions in senior living since 2009, Pacifica provides personalized care services in independent living, assisted living, memory care, skilled nursing, namaste therapy hospice and more. Pacifica honored Theodore with a 100-year birthday celebration at their Vacaville community. Best of all, the celebration is highlighted in this summer edition of Vacaville Magazine. The feature covers Theodore’s life story, his honorable war service and the Pacifica-led birthday extravaganza. We’re pleased to share a highlight here on The Balance Sheet. Pacifica honors veteran resident In early June, Theodore was honored with a gathering of local citizens, the Vacaville Fire Department, Travis Air Force Base and more. Over 200 vehicles passed by Pacifica Vacaville in commemoration of Theodore’s 100th birthday — and war service. Visitors also showed their appreciation with special gifts and heartfelt tributes. “We are so proud that this inspiring World War II Veteran and Centenarian is part of our community,” shared Pacifica on LinkedIn. The special gathering was made possible by Pacifica Community Relations Director Rosa Gracida, who noted Theodore’s upcoming birthday when he became a resident. She crafted the idea for a 100-car parade to memorialize his 100 years and to no surprise, local agencies were honored to join. “This is a milestone,” said Gracida in Vacaville Magazine. “I just feel so blessed — this is part of our story, our freedom. My heart just feels so full. He deserves all the respect.” Theodore’s Navy career began in 1941 where he was stationed in the Philippines. From inspecting and repairing...

NIC Occupancy Insights...

While senior living providers have faced occupancy challenges throughout the pandemic, according to the latest survey from the National Investment Center for Seniors Housing & Care (NIC), demand for senior housing is on the rise. In surveying providers from July 12 to August 8 of this year — deemed the Wave 31 survey — NIC found an acceleration of move-ins across the senior living industry. And with increased demand for senior housing and care, providers need the right tools to stay ahead of the curve. They need a comprehensive solution to market their communities, streamline care, boost resident satisfaction and more. Occupancy insights in senior living NIC Executive Surveys aim to provide transparency in the senior living industry. The Wave 31 survey — gathering responses from senior housing and skilled nursing providers within 70 small, medium and large organizations — shed light on summer occupancy levels. And according to NIC’s findings, resident demand is the driving force behind increased move-ins. Here’s an overview of NIC’s other key discoveries: Between roughly 55% and 60% of respondents said the pace of move-ins has accelerated in the past 30 daysFewer nursing care organizations reported accelerated move-ins, compared to previous surveysIncreased resident demand was cited by nine out of ten respondents as a reason for accelerated move-insBetween approximately 50% and 70% of organizations reported an occupancy increase, with the memory care segment showing the most improvement61% of organizations anticipate their occupancy will rebound to pre-pandemic levels sometime in 2022100% of respondents said their organizations are experiencing staffing shortagesAmong organizations with multiple properties, 80% have staffing shortages in more than half of their propertiesFour out of five respondents indicated that attracting community and caregiving staff — and staff turnover — were the biggest challenges facing their organizations today. Roughly...

Access Expert Insight

Through the 2021 Changemakers series, a collaboration between Yardi and Senior Housing News (SHN), a group of dynamic trailblazers have been recognized for their unique strategies in senior living. We’ve learned how these leaders evoke change, navigate industry obstacles and ultimately, how they’re shaping the future of senior living. In-depth interviews were conducted with each of them and delivered in batches by SHN this year.     The interview series has now concluded, but SHN is releasing a special resource to mark the occasion. Explore this brand-new Changemakers ebook to access bonus excerpts from each leader’s interview — packed with unshared insights, fresh pieces of advice and more.   In celebrating the ebook release, we’re proud to highlight three Yardi clients from this year’s Changemakers class. From pushing through unforeseen challenges and developing innovative strategies along the way, these industry pioneers have stories you don’t want to miss. Their creative perspectives are accessible in the ebook now. Keep reading to learn from: Les Strech of Thrive Senior LivingBen Burke of Anthology Senior LivingFee Stubblefield of The Springs LivingAdam Kaplan of Solera Senior Living Yardi is pleased to sponsor the Changemakers series for a third year and join SHN to spotlight exceptional leadership across senior living. We hope the interviews — and bonus insights from the ebook — inspire you to drive change in your own organizations. Visit SHN to download the ebook. To learn how Yardi clients thrive with our single connected solution, explore the Senior Living Suite product...

Self Storage Continues to Soar Sep02

Self Storage Continues to Soar

The ongoing strength of the self storage industry continues to impress analysts from Yardi Matrix, the industry’s leading provider of real estate data. They presented a positive outlook for the sector in a webinar held Wednesday, Sept. 1. (View the recording.) Continued migration from all parts of the country is an ongoing positive for the industry. Street rates are up across the board, with all unit sizes, vintages and property ratings experiencing strong increases. Newer facilities and highly rated facilities, however, have seen their rates accelerate faster than competitors. “If people are moving anywhere, that’s a really good thing for self storage,” said Chris Nebenzahl, editorial director for Yardi Matrix. And Americans have been moving a lot recently – a Matrix estimate puts the amount of relocation at 6 years’ worth of moves condensed into a year and a half. But as the pandemic drags on, it has also been possible to pinpoint some of the additional reasons that demand for storage units, especially medium and large units, remains high. They include: As people transitioned to working from home or educating children at home, they used storage to remove furniture from their households to create space for those activities.Demand for socially distanced outdoor activities prompted the need for storage for vehicles like motorcycles, boats and ATVs. (Next year, Matrix will introduce reporting specifically on storage facilities that handle RVs and boats.)Both temporary and permanent moves prompted renters and homeowners to store items while relocating.Business use of storage units to aid with inventory management during a period of disrupted consumer behavior. Gateway markets, which were already seeing outbound migration pre-pandemic, saw the largest gaps between improved self storage performance and struggling performance of multifamily.  Between March 2020 and July of 2021, street rates grew 24 percent in Chicago while multifamily rents edged up just one percent. And in Manhattan, street rates were up eight percent while multifamily rents dropped nearly nine percent. As street rates continue to rise month after month, investors and owners are wondering how long these gains can last. In the near term, they show no signs of abating. “The demand is there. We are seeing record growth rates. This is an opportunity for the self storage industry to make hay while the sun shines, but we think this is going to continue for another 18-24 months,” Nebenzahl said. Learn more about the self storage industry’s success in the latest Matrix National Self Storage...

Need Efficient Leasing Solutions?

Technology offers several benefits that make it a mainstay in the multifamily leasing process. Today, we will check out solutions that add efficiency and convenience to your daily processes. Automated communication Automation is an essential part of an efficient leasing workflow. Automation means less hands-on time for staff, especially during redundant and menial tasks like responding to general questions. Let’s face it: most people don’t thoroughly read. An online study suggests that fewer than 25% of readers complete an online article. This means that—no matter how many details you put on your website—your staff will receive requests to answer the same questions. Additionally, your staff must remind prospects of upcoming tours, manage cancellations and rescheduling, and follow-up after tours are complete. Those simple tasks are time consuming, but they don’t have to be. Automated email services issue follow-ups and disseminate commonly requested information. Automated correspondences can save your staff time and save you money without sacrificing a high-quality user experience. Chatbots for intelligent automation Automation improves response times, which is important to prospects and residents alike. The 2020 NMHC/Kingsley Apartment Resident Preferences Report reveals that 88% of consumers expect a response within an hour and 33% of that group expects an answer in 15 minutes or less. Delayed or missed responses are bad for business. How do you improve response times while decreasing hands-on time for staff? Chatbots offer real time assistance. They answer questions, book appointments and “learn” to adapt to a company’s unique needs and customer trends. Chatbot are growing in popularity. It is estimated that 85% of human interactions online will be handled by a chatbot by 2025. Users demonstrate such trust in chatbots that 68% of them expect a better experience with a chatbot than a human. Get 3 Critical Tips for Picking the Right Chatbot Virtual and self-guided tours Virtual tours can take many formats. Pre-recorded video tours and live video tours are both popular, agent-led options. These tours give your staff the opportunity to build rapport and pursue the sale during conversation. They also offer the convenience of engagement without face-to-face interaction. But agent-led tours still require a notable time investment from staff. The third tour type, self-guided tours, empowers prospects to schedule their tour online, check in online, and gain access to the unit without the intervention of an agent. Prospects can then enjoy a live tour and follow-up correspondence from an agent. Self-guided tours are in-demand. A survey of 4,974 consumers on RENTCafe.com reveals that 70% of respondents would take a self-guided tour. This convenient tour offering is also effective. Yardi client QuadReal reports that 33% of its self-made appointments converted to leases. Virtual options allow you to schedule more tours and expand touring hours. Both benefits facilitate greater convenience for your team and your prospects. Online rent collection Consumers crave online conveniences. Yardi client Applied Property Management has a leasing process that is entirely online. More than 92% of its market-rate residents also pay rent online and the company expects the number to reach 100% in the near future. Residents at Applied Property Management aren’t unique in their payment habits. Per the NMHC/Kingsley survey, nearly 80% of residents prefer to pay online. Online payments can take several convenient forms for your residents. They can pay online with a credit or debit card, schedule a one-time or reoccurring ACH and even pay by text message. When there are fewer people dropping off rent checks, you reduce office traffic and strain on staff. Online payments also result in zero rent envelopes to open, deliver to the bank and wait for processing. Online maintenance requests and tracking To a resident, every disturbance in their home workflow may feel a rip off and a domestic emergency. They aren’t paying for a broken dishwasher and that leaky pipe is threatening their personal belongings. So until the issues are resolved, you’ll get regularly scheduled calls from...

Meet REACH by RentCafe Aug31

Meet REACH by RentCafe

Yardi announced today the launch of REACH by RentCafe®, a comprehensive digital marketing agency for multifamily property management. The agency helps clients reach more renters, improve marketing success and reduce unproductive spend through expert creative, search marketing and strategy analysis. REACH offers corporate and property website development as well as custom design assets ranging from logos to email templates. Search marketing services include SEO, PPC, social media management and reputation management. Marketing analytics provide instant campaign and website performance data. “At REACH, marketing performance is our passion. From creating winning websites to delivering an unmissable search strategy, our digital marketing agency helps brands achieve their marketing potential,” said Esther Bonardi, vice president of marketing and REACH at Yardi. Several of these offerings were previously available to clients using RENTCafé Reach for search marketing. In response to the success of that program and ongoing demand, Yardi made the decision to rebrand and expand to provide a full-service marketing agency experience for its customers. “We’re excited to offer white-glove service to property management businesses that want to stand out in today’s competitive online marketplace,” said Catriona Orosco, director of REACH. “Enjoy premium, personalized attention from our team of creative designers, search marketing professionals and digital marketing consultants. As your marketing agency, we partner with you in ongoing conversations about your strategy — including campaign analysis and performance auditing — to drive the strongest results for your portfolio.” The agency is both a Google Premier Partner and Yext Certified Partner. REACH digital marketing services are available independently or packaged for a comprehensive approach. Ready to bring your marketing vision to life? Visit reachbyrentcafe.com to get started. About REACH by RentCafe Reach your audience, goals and potential with a full-service digital marketing agency for property management businesses. REACH by RentCafe® certified experts are ready to help you create a winning web presence that drives conversions with complete transparency. Our services include website development, SEO, PPC, social media, reputation management and more. See what’s...

Creative Affordable Housing Aug30

Creative Affordable Housing

Pennrose expands with the opening of three affordable housing developments including an innovative LGTBQ senior housing project. LGBTQ senior housing Yardi client Pennrose partnered with Cincinnati-based Northsiders Engaged in Sustainable Transformation to create John Arthur Flats. This community will be the city’s first LGBTQ-friendly affordable senior housing community. John Arthur Flats groundbreaking ceremony. Image courtesy Pennrose. John Arthur Flats is comprised of 57 affordable units across a single three-story building. Floorplan options include studio, one- and two-bedroom options. The site is opening for seniors earning between 30% and 60% of the average median income (AMI). Community amenities include laundry facilities, a fitness center, outdoor communal space as well as the indoor Maureen Wood Community Room. Additional features include walkable access to the Northside business district, shops, restaurants and the McKie Recreations Center. Pennrose Management Co. has also teamed up with the Council on Aging of Southwestern Ohio, Churches Active in Northside and the health-centered nonprofit Caracole to offer supportive services for residents. Both names emblazoned through the community uplift LGTBQ contributions to society. John Arthur, the namesake of the community, was a Cincinnati native and co-plaintiff in the landmark court case that legalized same-sex marriages in the United States. The Maureen Wood building is named in honor of a local shop owner who also worked to empower single women and mothers through home improvement classes. “Today marks the first step in transforming a formerly vacant, underutilized site into a vibrant community asset,” said Timothy I. Henkel, principal and senior vice president at Pennrose in a press release. “LGBTQ older adults experience higher rates of poverty and housing discrimination, and innovative housing solutions like John Arthur Flats create an inclusive, safe and welcoming environment for seniors to age in place comfortably. We hope this development serves as an example in neighborhoods throughout Ohio and the country.”   The community broke ground in August 2021 is scheduled for completion in summer 2022. Eastern Woods village offers housing for every generation John Arthur Flats comes on the heels of the grand opening of two other projects. Eastern Woods Senior in Findlay, Ohio and Northside Village in Schenectady, N.Y. Eastern Woods Senior is a LEED Silver-standard building that honors universal design principals for people of all ability levels. The community offers 44 apartments ranging from one- to six-bedroom floorplans. The units are spread through a single three-story building that includes conveniences such as laundry facilities, communal space, storage facilities and a fitness center. Eastern Woods grand opening. Image courtesy Pennrose. Eligible residents earn less than 60% of the area median income. Additionally, five units are designated for Section 811 participants, residents with disabilities who also meet the income standards. Eastern Woods Senior is part of the larger 120-acre mixed-use Eastern Woods campus. Senior special-use buildings include the Eastern Woods Senior as well as the nearby Birchaven Village. The latter is a continuum of care retirement community. Residents of Eastern Woods will have access to Birchaven Village services including heath services and on-site programs. The Eastern Woods campus is truly housing for all generations. It includes the market-rate Apartments at Eastern Woods and Birchaven Estates at Eastern Woods, a neighborhood of single-family homes. “We’re proud to partner with Blanchard Valley Health System to execute their strategic vision of creating high-quality, affordable housing for seniors in an amenity-rich environment,” said Henkel. “The integration of healthcare and housing has proven to be impactful for overall health and wellbeing, and we are excited to welcome residents into their brand-new homes in a walkable, mixed-use environment.” Northside Village presents two phases of quality affordable housing On the east coast, the Northside Village community brings more affordable housing to Schenectady. During phase one, Pennrose rehabilitates 25 apartments on Van Vranken Avenue. (Residents of the current community will have first selection when the renovated units are complete.) In phase two, the organization expands to include 64 new construction units. Prospects...