Watch On-Demand Webinars

We all learn best in different ways, whether it’s by reading a post like this one, exploring visual resources like an infographic or watching a short video. It’s why our senior living team seeks to bring a variety of resources to the table (including all of the above) when demonstrating functionality in the Yardi Senior Living Suite. As such, we’re excited to share our senior living webinars today, which offer the opportunity to explore our solutions via on-demand videos. They’re quick, informative and packed with what operators need to know. And since they’re on-demand, you can watch at your convenience! Simply fill out the short registration form and voila, you’re set to view the webinar when your schedule allows. Ready to start watching? See below to find the Senior Living Suite webinars we’ve worked to bring you: Yardi Voyager Senior Housing Create a foundation for success with an online, mobile-friendly platform for property management and finance. Designed for providers of all types and sizes, Yardi Voyager Senior Housing is a complete accounting system that integrates with solutions for every aspect of senior living. Join our senior living webinar to learn how Voyager helps you: Simplify accounting with a full general ledger system Improve transparency through centralized record keeping Enhance staff productivity with automated tasks and workflows Scale your operations by adding solutions for marketing, care and more Register for the Voyager Senior Housing webinar. Yardi Senior IQ Operational and financial data alone doesn’t cut costs, increase revenue, balance risk or optimize resident care. Actionable insight does, and that’s where Yardi Senior IQ comes in. Join this senior living webinar to learn how our dynamic business intelligence solution drives smarter, faster decisions for single communities or an entire portfolio. We’ll show you how Yardi Senior IQ: Uncovers new insights from internal benchmarks and industry comparisons Satisfies investors, board members and senior leadership with real-time data Helps staff focus on resident care by eliminating spreadsheets, siloed databases and other inefficient operations Empowers teams with role-based, customizable dashboards that display metrics that matter to them Register for the Yardi Senior IQ webinar. Yardi EHR Drive superior resident care with efficient record keeping and medication management. Yardi EHR offers the convenience of mobile, electronic assessments, care planning, incident tracking and more. Watch our senior living webinar to learn how Yardi EHR helps: Simplify charting to increase time for resident care Capture all care costs from assessments Cut medication administration costs and processing times Comply with government reporting regulations Register for the Yardi EHR webinar. Yardi eMAR How can senior living providers and pharmacies work together efficiently? With an effective electronic medication management solution! Yardi eMAR streamlines caregiver tasks by consolidating medication management, health records and finance in one single database. Register for this senior living webinar to see how Yardi eMAR enables you to: Pass medications securely across your communities Build stronger bonds and increase resident satisfaction Reduce paper documentation and cut associated processing time Eliminate risks by digitizing the medication management process Register for the Yardi eMAR webinar. RentCafe Senior Living Set your communities apart by offering residents and their families the ability to stay connected. RentCafe Senior Living is an online portal for managing payments, reviewing health and wellness records, communicating with caregivers and submitting service requests whenever, wherever. Join our senior living webinar to learn how RentCafe Senior Living works to: Increase cash flow with online payment options Enable fast and easy maintenance requests Drive resident engagement through community calendars Collect confidential feedback from residents and families Register for the RentCafe Senior Living webinar. RentCafe Senior CRM Nurture leads and maximize occupancy with a powerful customer relationship management solution for senior living. RentCafe Senior CRM offers instant visibility into sales and marketing activities, with prospect information flowing from sales counselors to caregivers to finance and billing staff. Watch this senior living webinar to discover how RentCafe Senior CRM allows you...

Adelante Comunidad Conejo Jan26

Adelante Comunidad Conejo

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to hundreds of organizations selected by its employees. Adelante Comunidad Conejo (Adelante) of Thousand Oaks, Calif. is a regional nonprofit that seeks to empower Spanish-speaking families, regardless of immigration status, fluency or income. Adelante provides support, networking and advocacy and acts as an advocate for Spanish-speakers throughout the community. “Adelante believes that everyone deserves to be recognized as valued community members. Everyone should have a seat at the table. The voices of our Spanish-speaking peers should be heard when decisions are made regarding neighborhoods, school transportation, and recreation,” said Carole Shelton, vice president of the nonprofit. “We continue to be responsive to the community as needs change. We are working to address food insecurity, to connect our families to support organizations, and to connect support organizations to our families,” Shelton said. “When we embrace cultural and language diversity, we make our community a better place in which to live and work.” “Our focus is on removing barriers to participation so that the children of local Latino families can access the same programs that their friends do.  The most significant barriers families face are transportation, language, and affordability.” Adelante focuses much of its efforts on high school students. They can receive assistance with applying for college scholarships, which can be daunting for families. “We are proud to support our local Latino Connection Clubs at our three comprehensive high school campuses, where their activities build leadership skills and provide opportunities to celebrate their language and heritage,” Shelton shared. Adelante provides volunteers with a welcoming place to be involved and includes community members of all abilities. “A youth with a developmental disability was given the opportunity to serve his community. He has gone from being a spectator, to a 2-hour shift, to a full Saturday shift, and a just recently added a 3-hour shift Friday shift. He has gained important skills during his time with Adelante!” said Shelton. Core mission objectives The core mission objectives for Adelante include the following: Support – Adelante steps in to make a difference in the lives of local Latino families with a special emphasis on the Spanish speaking members of our community. Efforts range from supporting families in crisis, advising community members who are struggling to interface effectively with local agencies, and hosting gatherings designed to better inform families, encourage pride, and build community connections while also addressing food security. Networking – Adelante believes that local community connections are key drivers of change. By attending events, participating in discussions, and meeting other community influencers, the organization positions Latino voices to be heard and seen as respected community voices. Advocacy – Adelante listens to and responds to community concerns, brings those concerns forward to local agencies and speaks on behalf of those who are not ready to speak for themselves. Its advocates have become quite the experts at offering insight during local government public comment opportunities. Yardi support makes a difference Shelton shared how the support provided by Yardi has had an impact on the organization. “Yardi funds allow us to continue to provide fresh milk, cheese, tortillas, beef, and chicken to our families during our monthly marketplace and pantry. Addressing food insecurity has given us the opportunity to develop a deeper connection with our families which has provided the opportunity to work together to reach our collective goals,” she said. “The support received by Yardi brought our volunteers to tears.  We know we are doing great work but receiving support within our community means everything.” Volunteer opportunities Volunteer opportunities with Adelante include prepping food distribution pantry and marketplace resources for recipients on Fridays and working at the Saturday Open Air Community Marketplace. In-depth details about work hours, expectations, time commitment and skills required are available at the Adelante Comunidad Conejo website. For more information...

Community Support Jan26

Community Support

In the face of inflation and rising costs of living, some affordable housing residents may struggling this year. Here are some creative ways to provide for families at your properties. Residents could be struggling with rising grocery prices. Local food banks and kitchens are the best options. Create easily available resources, such as a website page or flyer posted in community common areas, letting residents know where they can find assistance with groceries. Many food banks provide healthy foods as well. Find a guide to local food bank locations here. If your location allows, onsite community meals are another idea, which could be prepared with resident help or assistance from a non-profit willing to visit your location. For families with small children, childcare assistance is available in many regions. Become familiar with local resources and regulations in order to best assist residents. Consider a weekly or monthly activity for children living at the community so that parents can have a short break. Refreshments, games, or a movie afternoon are easy ideas for potential entertainment. Affordable healthcare is challenging to access for many, especially seniors who may have limited transportation options. Talk to local public health clinics and consider holding a quarterly mini-health assessment clinic. This can benefit all age groups. Many nonprofits help with health and wellness and are able to provide access assistance. If not onsite, a pickup/dropoff transportation service may be available, and you can share that information with residents. Car services like Uber and Lyft can get very expensive. For residents who do not have a personal car, consider having a “taxi” service available for them for a moderate fee. This can benefit many who need to pick up prescriptions or do quick errands. For residents who need access to technology,...

Wayne Tuck Jan25

Wayne Tuck

Let’s rendezvous with Wayne Tuck, Senior Director for Yardi’s residential portfolio in Canada. Tuck supports Canadian clients as well as those from the U.S. and Latin America. Meet Wayne Tuck Tuck has worked with Yardi for four years but has been in the industry as a client of Yardi’s since 2004. He is involved primarily in the support of clients and teams that service them. “I always say to employees I work with, ‘You are not working for me; I am working for you; we’re working together.’ It’s my role to guide, support, and direct them to be better for our clients. When I first joined, my message was, ‘I’ll share as much as I know about the multifamily industry in Canada, and you share as much as you know about software, and this will be a great relationship,’” said Tuck. Tuck says Yardi’s corporate motto resonates with him, as do Yardi’s company values: Take care of our clients, take care of our employees, take care of our communities, stay focused and grow. “I have been extremely fortunate to participate on Yardi Toronto’s Charity Committee, helping with the organization’s philanthropic efforts,” shared Tuck. One beneficiary is Canadian client Toronto Community Housing, where Yardi contributes post-secondary scholarships for individuals living in social housing. The funds help provide an opportunity for recipients to pursue their dreams.  “In addition, the Investing in our Diversity scholarships are awarded annually, and I’m extremely proud to represent Yardi in helping deliver them,” shared Tuck. Learning and leadership Tuck’s journey with Yardi has been a chance to gain a perspective on how real estate and tech companies operate around the world. “We always rely on teams outside Canada in support of our clients, and the diverse nature of our organization and its geographical reach offers a unique opportunity to gain a truly global perspective,” he said. What does he enjoy most about working for Yardi? The chance to continually expand his knowledge. “I am inquisitive by nature; I have learned so much here at Yardi, and I continue to learn each and every day. I’m also focused on sharing my learning and experience to benefit our employees and their ongoing development,” Tuck said. Tuck is also a part of the hiring process for Yardi. In interviews with candidates, Tuck said: “I always reinforce integrity as the core value (at Yardi) that resonates most. Going back to the motto, it is not only the attention, dedication, and commitment to our purpose that resonates but also our consistent delivery of products and services that demonstrate how we fulfill it. “Integrity for me is not just about doing the right thing; it’s about having the will to do it right no matter what barrier or perceived barrier is in front of you.” Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. Hockey with heart Tuck is a huge hockey fan and plays regularly. His son and daughter both compete at a high level in two of the premier minor hockey leagues in the world—The Greater Toronto Hockey League and the Ontario Women’s Hockey Association. He also volunteers and helps his son’s team as a trainer, which finds himself in the ice-skating rink several times a week during the Fall and Winter seasons. Tuck also enjoys riding his motorcycle, creative writing, and painting abstracts with acrylic when he is not in skates. Check out his LinkedIn bio here. Learn more about the dynamic members of #TeamYardi on the People...

Your Business Intelligence Guide

You’ve likely heard the term business intelligence (BI) before, but have you explored the capabilities of BI tools for senior living? Our newest ebook guides you through it, offering concrete ways senior living operators can use BI tools to their advantage. We cover the top benefits of BI software and features to look for when selecting a solution, then share how Yardi Senior IQ stands out from the crowd. Be sure to download a free copy of the ebook for all the insights! Why should you use business intelligence? Given the tech-driven world we’re in today, it’s no surprise that 80% of organizations are using BI software, according to a 2022 Gartner survey. But beyond simply being in a technology era, leaders are choosing to implement BI solutions based on the ability to unlock critical data — all at the click of a button. That real-time data enables smarter, faster decision-making. As outlined in the ebook, business intelligence helps senior living operators (and other leaders alike) enable data visualization, streamline decisions and educate staff at all levels. That includes managers across marketing, operations and care, not just C-suite executives. You can read the ebook for more details on what BI tools have to offer. The big takeaway is that business intelligence opens doors that manual data processes can’t — helping operators drive growth in their communities. Selecting the solution for you How does one sort through different business intelligence solutions? It’s important to find a transparent vendor who shares exactly what their solution does to help operators succeed. You should be looking for ease of use, customization options and a wide range of capabilities when vetting BI solutions. Check out the ebook for a list of what to look for beyond those must-haves. Say hello to Yardi Senior IQ We can’t go through the benefits of business intelligence without a solution to demonstrate. With that, say hello to Senior IQ! Senior IQ is a cloud-based, integrated business intelligence solution hosted in the Yardi Senior Living Suite. As a BI solution built for the unique needs of senior living, Senior IQ offers real-time data that’s relevant to you. There’s a range of things that make Senior IQ a differentiator, but to name a few, Senior IQ offers: Attractive, customizable dashboards 640+ pre-configured KPIs Internal benchmarks and NIC industry comparison data Portfolio-wide insights plus drill down capabilities HIPAA and SOX compliant workflows Head over to the ebook for the full list, as well as an inside look at dashboards and KPIs being created in Senior IQ today. See what Yardi clients are saying “Yardi Senior IQ is fantastic because it establishes orderly workflows and creates new reports from existing ones, complete with custom dashboards,” shares Michael Bowles, project coordinator at Dial Senior Living. “Investors can get very specific information on demand without having to wait for us to send it.” You’ll find a few more testimonials like this one in the ebook. Getting started with Senior IQ Curious about the implementation process with Senior IQ? Let’s just say you’re not building charts from the ground up. Data is automatically pulled from tools in the Yardi Senior Living Suite — from financials to marketing to care — and populated in Senior IQ. Implementing Senior IQ can be achieved in just two weeks, much less than the median implementation timeline for BI software (approximately four months, according to BI-Survey). Read the ebook While snapshots like this are great, we encourage you to read the ebook for a closer look at business intelligence tools! If you have any questions about Senior IQ, visit page 14 of the ebook to book a personalized demo with team...

Self Storage Jan23

Self Storage

National self storage street rates for all unit types continued to decline in December as the demand for housing dropped and seasonal trends took effect, according to the latest Yardi Matrix National Self Storage Report. National street rates for 10×10 non-climate-controlled (NON CC) units decreased 2.3 percent year-over-year in December to $126, a $7 drop from their summer peak. Rates for similar-size climate-controlled (CC) units fared slightly worse, dropping 3.4 percent year-over-year to $142, a $10 drop from the summer high. The decline in street rates in the last half of 2022 was expected due to normal seasonal slowdowns in demand, and overall rates remain healthy compared to historical levels. “Self storage had a strong year and is well-positioned heading into 2023. Street rates have declined, but operators have focused on increasing existing customer rents to achieve strong revenue growth, outweighing the rise in operating costs,” say Matrix experts. According to market research, operators remain confident in the resilient demand created over the past two years and the ability to backfill occupancy in the spring with higher-paying new customers. “A rapid rise in development costs, including the cost of debt, will also likely cause a deceleration in new supply in coming years, another positive for owners,” states the report. Learn more about the state of the self storage market nationwide. Yardi Matrix tracks a total of 4,627 self storage properties nationwide in various stages of development — including 1,789 planned, 812 under construction and 669 prospective properties. Matrix also maintains operational profiles for 29,032 completed self storage facilities across the United States, bringing the total data set to 33,659. 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...

Student Housing Jan20

Student Housing

The student housing industry is set up for another solid performance in 2023 after record returns last year, according to the latest National Student Housing Report from Yardi Matrix. “Momentum is strong heading into the new year, even as the effect of higher interest rates takes hold in the economy and has led multifamily rents to decelerate,” say Matrix experts. “Student housing remains largely unaffected, as the industry typically does better during times of economic volatility.” As of December 2022, 48 percent of beds at Yardi 200 universities were already leased for the fall 2023 school year, representing a new record high for this time of year. Rent growth also remained strong, at 4.7 percent annual growth. “With over eight months to go until the start of the next school year, we anticipate 2023 being another record-breaking year for student housing performance,” states the report. One caveat: highly selective universities with name recognition are maintaining their interest among incoming students, while smaller schools are having more difficulty with enrollment. The slowing economy is having an impact on new student housing supply. With interest rates increasing, the development pipeline is contracting. The development pipeline for Yardi 200 universities (including planned, prospective and under-construction properties) decreased by over 3,000 bedrooms from December to January, representing a 2.6 percent contraction. Gain more insight in the new National 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 covers multifamily, student housing, industrial, office and self storage property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn...

Care Stream App

We’re pleased to share a new round of updates in the Yardi EHR Care Stream App, our on-the-go platform for senior care staff. We’re continuously striving to improve our solutions in the Yardi Senior Living Suite, including the accompanying apps, and hope our clients enjoy the latest functionality Care Stream has to offer. See below for a snapshot of what the update entails: About Care Stream As a brief overview, the Yardi EHR Care Stream app allows nurses and other senior care staff to access resident health records, perform order resolutions, execute point-of-care charting and more from a single, mobile platform. Care Stream is accessible on both smartphones and tablets, allowing more staff members to utilize the app depending what devices their community has available. Taking a step back, Yardi EHR is our full-service electronic health record solution for senior living. Learn more about Yardi EHR. New features and enhancements Focusing on what’s new and improved in Care Stream, the app now includes the following functionality: You can now view, add and edit daily log entries and progress notes in the app. In resident view, tap the new daily log or progress notes button below the resident header to add a new entry or to view previous entries The add observation button (for initiating one-step assessments) has been replaced by an observation button located between the new daily log and progress notes buttons You can now view and record vital signs in the app. In resident view, tap the new vitals button below the resident header to record a new vital or view a filterable list of previously recorded vitals Download the app As always, these updates were developed with client feedback in mind, and to help senior care staff succeed. We hope you...

Reach for Excellence Jan19

Reach for Excellence

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.. Get to know Reach for Excellence, an Atlanta-based nonprofit that serves middle-school children through educational enrichment. Founded in 2001, the mission of Reach for Excellence is to empower determined leaders and expand their possibilities in the classroom, in the community, and in life. Reach for Excellence is a tuition-free academic and leadership enrichment program that offers students of limited income a mix of academic, cultural, and community-based experiences that prepare them for the challenges of college-preparatory programs and high schools. Director of Development Matt McGee shares: “While there are many worthwhile educational enrichment programs in the Atlanta area, Reach for Excellence is one of the few that focuses on middle school-aged children. Research from ACT found that the academic achievement students attain by eighth grade significantly impacts college and career readiness. Therefore, it is critical for this age group to gain exposure to the academic and leadership skills necessary to succeed in high school, college, and beyond.” Program offerings Reach for Excellence keeps students focused on learning by engaging young scholars in academic and leadership enrichment classes over six weeks during the summer. The program continues throughout the school year with 16 Saturday sessions. Two hot meals are provided each day in the summer, and a hot lunch is provided on Saturdays, ensuring that students are well-fed and ready to learn. Reach for Excellence also provides transportation assistance. “The program requires hard work, commitment, and discipline, but the rewards can last a lifetime,” says McGee. He shared the story of Jocelyn Calvillo, a Reach for Excellence student who later became an attorney. “Jocelyn was eager to join Reach, but her parents were concerned about maintaining a commitment to attend classes on Saturdays and during the summer. She had three siblings, and both parents worked demanding schedules. Transportation to the program would be an issue. Her parents recognized the importance of education and worked with Reach and other families to negotiate Jocelyn’s transportation,” McGee shared. But once she was able to attend, “It was comfortable to be in an environment with kids from similar backgrounds, and she never felt like she was less than her peers. She recalls that there were always books available and visited Reach’s library often. She loved reading and was good at math, a big part of the Reach curriculum,” said McGee. Calvillo ultimately attended high school at Atlanta’s Marist School in Atlanta, Agnes Scott College, where she majored in political science and Spanish, and Mercer University’s Walter F. George School of Law. She now helps her community as an immigration attorney with Catholic Charities Atlanta, an organization that helps families to overcome barriers and achieve self-sufficiency. “Jocelyn believes that Reach for Excellence opens doors and helps students succeed despite all the barriers they face. Seeing all that her fellow Reach classmates have accomplished, she believes Reach students will change the world,” said McGee. Future goals In 2022 and 2023, Reach for Excellence is working to offset the impact of the pandemic on students’ academic growth. The pandemic has taken a particular toll on the education of children in low-income families. Research from Georgia State University recently found that many students in the Metro-Atlanta area experienced reductions in academic growth over the last two years. The math and reading achievement reductions were more significant among students who qualify for free or reduced lunch, students of color, and English language learners. All of Reach for Excellence students match these demographics and experienced more significant reductions in academic growth than their peers. “Additionally, Reach for Excellence will expand our enrollment by recruiting new students to our Hispanic Initiative,” shared McGee. “Our new Hispanic Initiative seeks to strengthen college enrollment and completion among Latinx students by providing academic enrichment and college...

Benefits of e-Signatures Jan18

Benefits of e-Signatures...

Many of us have changed the way we go about our daily lives since social distancing efforts began in late 2019. Not only have we rolled with the changes, we’ve embraced them, morphed them into something better, and created new ways to work with each other. A major change affecting affordable housing providers and public housing agencies came in a notice from the United States Department of Housing and Urban Development (HUD) in 2020 by which HUD authorized use of electronic signatures in place of “wet” (i.e. ink) signatures to execute documents for many of its housing subsidy programs. Examples of affected programs include: Project-based Section 8 Rental Assistance Demonstration Project-based Rental Assistance (RAD/PBRA) Section 202 Senior Preservation Rental Assistance Contracts (SPRAC) Section 202/162 Project Assistance Contract (PAC) Section 202 Project Rental Assistance Contract (PRAC) Section 811 PRAC and Project Rental Assistance (PRA) Rent Supplement Section 236 (including RAP) Section 221(d)(3)/(d)(5) Below-Market Interest Rate (BMIR). Why are e-signatures a game changer for subsidized housing? Eliminating ink signature requirements save time and money for affordable housing providers and public housing agencies. Rather that dealing with paperwork, these organizations can now set up digital workflows that reduce paper usage and storage costs. Those online workflows can save significant staff hours and create more time to serve residents. E-signatures are more convenient for affordable housing and PHA applicants and residents. They can execute documents when they have a free moment, instead of taking time off work or from childcare to visit an office to sign forms. Audits are also faster, easier and safer with the use of e-signatures. Because workflows are paperless, auditors can monitor files without having to come into an office. Instead, they can access affordable housing and PHA files from a remote workstation to...

Ana-Raluca Iliescu Jan17

Ana-Raluca Iliescu

Yardi’s growth as a top employer is thanks in part to staff members who assist with recruiting around the globe. Meet Ana-Raluca Iliescu, team leader for recruitment in Cluj-Napoca, Romania. Meet Ana-Raluca Iliescu Iliescu has been working for Yardi for nine years. She started with the company as a call center agent and transferred to the Human Resources department after two years. Currently, she coordinates the recruitment team and participates in recruitment processes. “My experience at the call center was one of the most valuable that I have ever had and played an important role in preparing me for the recruiter position. I had already acquired most of the skills needed for the job, so transitioning into the new role went smoothly,” shared Iliescu. Her day-to-day work includes close collaboration with the recruitment team and other departments in the Yardi Romania office. She oversees all processes, stays on top of changes, and proposes and applies solutions to improve practices and candidate experiences. “Having been in a recruiter role at Yardi for over six years, I got the chance to work with almost all our teams, thus getting an excellent grasp of the business needs and processes and gaining much diverse experience as a recruiter,” said Iliescu. Growing business The people at Yardi’s worldwide offices are a big part of the effort to create and foster a distinctly welcoming corporate culture. “One of the things I like most about my job is that what our team does helps the people and the business grow. I also enjoy passing on my experience to help others succeed in this field. At the same time, I like the fact that it’s a challenging role, and you never get the chance to get bored – you can learn new...

Multifamily Outlook Jan17

Multifamily Outlook

Multifamily rent growth began to slow in late 2022 as economic pressures, including the impact of inflation, took root. The 2023 Multifamily Outlook from Yardi Matrix expects that rent growth will be closer to its historical average in 2023. Last year, U.S. rents increased by 6.4 percent after peaking near 16 percent in 2021, according to Yardi Matrix. Those were record figures, the highest seen in a century. The 2022 increase is expected to drop by half this year. “All eyes are on interest rates and how quickly inflation recedes. Economic growth will likely wane in the second half as the impact of rapid rate hikes take effect,” states the outlook. “This year we foresee rent growth dropping in half to 3.1 percent as demand lessens and deliveries remain high.” Demand is decreasing due to less renter migration, a dip in new household formation and declining affordability. Meanwhile new units are coming online nationwide. The forecast calls for 440,000 new deliveries in 2023, a stock increase of 2.9 percent. Deliveries will be concentrated in fast-growing markets, including Dallas, Austin, Charlotte, Nashville and Orlando. However, starts are expected to decline due to rising construction costs, a shortage of construction workers and planning/permitting delays. Gain more insights on the industry in the full 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...

Asking Rents Fall Jan13

Asking Rents Fall

Multifamily asking rents recorded historic highs in 2022 but began to move south as the year concluded, recording another $4 drop to a national average $1,715 in December, according to the latest Yardi® Matrix National Multifamily Report. Year-over-year growth declined by 80 basis points to 6.2 percent last month, the lowest level since May 2021. Over the year, national asking rents recorded a 6.2 percent uptick, the second-highest annual growth in 100 years after 2021’s nearly 15 percent increase. But as the economy cooled in the fall and demand decreased, rents fell 0.2 percent in December and 0.6 percent in the fourth quarter. The single-family rental (SFR) market is also seeing slowing. National asking rates increased 4.8 percent year-over-year in December, which was a decrease of 100 basis points from November. SFR rents dropped by $8 to average $2,083 last month. “With a variety of concerns about the economy and affordability, we expect rent growth in 2023 will be closer to typical levels,” states the latest report. In 2023, Yardi Matrix expects asking rents should remain flat or fall slightly through the spring, when growth is normally strongest. Then rents will likely rise moderately, though nowhere near the dramatic levels of the last two years. Learn more in the latest 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...

Glassdoor Honor Jan12

Glassdoor Honor

Yardi has been honored with a Glassdoor Employees’ Choice Award for the third time as one of the Best Places to Work in 2023. The Glassdoor Employees’ Choice Award is based solely on the input of employees, who voluntarily provide anonymous feedback by completing a review about their job, work environment and employer on Glassdoor, the worldwide leader on insights about jobs and companies. “Taking care of our employees and offering opportunities to contribute to our clients’ success are guiding principles at Yardi,” said Anant Yardi, the company’s president and founder. “We are honored to receive this prestigious award again from Glassdoor, and we are grateful for the supportive culture that has been fostered at all levels within our organization.” For 2023, Yardi is No. 76 out of 100 companies on Glassdoor’s Best Places to Work US Large list with a 4.4 rating. The company was previously honored in 2020 and 2018. Here are some of the comments current employees have made recently about Yardi on Glassdoor: “(Yardi is a) wonderful place to work. Flexibility, good pay & benefits, and caring, supportive team and leader. Privileged to work for such a philanthropic company that values both its clients and employees.” “The company has been incredible to work for throughout the pandemic and treats its employees and their families as good as I’ve ever seen.” “Management and team leads meet with you often to check in on how you are doing, career goals, questions, concerns. They do so in an authentic way, not obligatory. Leadership has not only asked these questions but has great follow through. They have helped guide me on a path based on my own career goals and they also encourage “out of the box” ideas and love when you take initiative.” Yardi is currently hiring, and you can find worldwide career opportunities on the Careers page. Glassdoor’s Best Places to Work winners were determined using company reviews shared by U.S.-based employees between October 19, 2021 and October 17, 2022. During the year-long eligibility period, employers considered for the large list must have received at least 75 ratings for each of Glassdoor’s nine workplace attributes (overall company rating, career opportunities, compensation and benefits, culture and values, diversity and inclusion, senior management, work-life balance, recommend to a friend and six-month business outlook). “It’s encouraging to see companies doubling down on employee mental health and wellbeing, diversity and inclusion, competitive benefits and flexible work environments as we head into 2023. I sincerely congratulate all of the Best Places to Work winners,” said Christian Sutherland-Wong, Glassdoor Chief Executive Officer. For the complete list of the Glassdoor Best Places to Work winners in 2023, please visit:...

Bug of the Century

Readers of a certain age might recall the buildup to Jan. 1, 2000, as an exercise in high drama. The object of concern was the so-called Y2K bug, the fear that hardware and software systems would stop functioning if they interpreted Jan. 1, 2000, as the first day of the year 1900. The issue was a legacy of computer programs from the 1960s, when engineers used a two-digit code for the year, omitting “19” to save data storage space. 2000 was comfortably far away then. But as that year approached, the concern grew among experts that the faulty interpretation of “00” would wreak havoc on everything from national defense systems and energy grid infrastructure to home mortgage calculations and factory operations. Corporations and governments formed task forces, planned and tested for years leading up to 2000. Large businesses in the U.S. spent an estimated $100 billion creating Y2K compliant programs. Boeing conducted a series of test flights with systems simulating a 2000 rollover to safeguard its 10,500 jets in service worldwide. AT&T spent $650 million to bolster its phone system. There was a fair amount of worry, too; IBM attributed its 9% fourth-quarter earnings drop in 1999 to large corporate customers delaying computer purchases. Smooth start to the millennium On Jan. 1, 2000, everything held together with only minor glitches attributed to Y2K. The U.S. Federal Housing Administration listed incorrect dates on a few reports. A Berlin opera company’s system made people born in 1995 appear to be 95 years old, rendering their parents ineligible for government-mandated subsidies. A video store in New York state foisted a $91,250 charge on a customer who, according to their computers, returned a rented movie 100 years late. There were some airline flight delays and a few other snafus...

Lynn Topp Jan10

Lynn Topp

Meet Lynn Topp of Yardi Canada, who plays a critical role in implementing software and hiring top-tier talent from the Yardi Toronto office. She has watched Yardi grow and thrive in Canada during nearly 18 years at the company. Meet Lynn Topp Topp is the Director of Client Services for Residential in the Toronto office. Even approaching 20 years of service, she is in awe at what she has watched Yardi achieve. “I enjoy the variety and the challenges each day brings. Working at Yardi is never boring, and every day brings something new, even after all my years here,” shared Topp. “Over the years, as the company has grown, it has been amazing to see all the changes and maturity in how it has evolved and improved since I was an account manager. I enjoy seeing others progress in their roles and seeing the results of our implementations, when clients benefit and streamline their businesses, and turning unhappy clients around,” she said. Topp worked for a Yardi client before starting at Yardi. In that role, she used Yardi Voyager to manage 95 properties, and was one of the first clients in Canada to adopt Voyager. “I spent 14 years in the property management industry as a controller before joining Yardi and chose Voyager to support our growth. While it was trying at times, it was also a great experience, eventually leading me to Yardi. Understanding the industry has helped me understand our client’s challenges and allows me to be empathetic and advocate for our clients,” Topp shared. Topp’s day-to-day is involved in some large full-service implementations, which absorbs most of her time serving as project manager. “I am involved with multiple teams and clients, and much of my time is spent dealing with escalated issues and...

Happy New Year!  

To ring in the new year among our senior living team, we’re doing one of our favorite posts — one that features our senior living clients! That is, we’re highlighting clients’ positive stories and celebrations from the 2022 holiday season. We hope these bits of magical, holiday wonder help you start the new year off with a smile. Holiday momentum in senior living At various Maplewood Senior Living communities, the holiday season was filled with creative activities for residents. We’re talking classics like wreath-making and Christmas tree decorating, all the way to an educational class on official White House ornaments. Maplewood also shared one community’s participation in a local holiday toy drive in which residents, families and staff donated to gift to children in need. You can find cheerful photos from each holiday event on Maplewood’s LinkedIn page. Benchmark Senior Living partook in quite a few holiday activities, too. You can see for yourself in this carousel of photos on Benchmark’s social media, which features things like community decorating and residents singing around the piano. Our personal favorite might be this compilation of holiday cookie recipes Benchmark shared, featuring their residents’ top picks. We may have to save these for baking year-round! Residents at a Watercrest Senior Living community enjoyed a holiday feast with loved ones this Christmas season, before heading for horse-drawn carriage rides. Did we mention hot cocoa and freshly-baked cookies were involved? There may not be any horses spotted in their social media collage, but you’ll see another surprise visitor (think red suit, white beard) enjoying the evening with residents. The community even did a second round of this event, pictured on LinkedIn as well. Tapping into the magic of Christmas Eve, check out this video shared by Brightview Senior Living,...

Megi Cara

Yardi’s global offices make important contributions to property managers and investors worldwide. Meet Megi Cara, who plays a vital role in that process for clients in the UK and Europe. Meet Megi Cara A Solutions Consultant based out of Yardi’s Waterloo office in London, Cara serves prospects and clients across the UK, as well as in Ireland and the European Union. “I am responsible for giving product demonstrations across our residential and coworking solutions,” Cara said. These are two rapidly growing areas of service for Yardi UK. Cara will celebrate her third anniversary at Yardi in February and can hardly believe how fast time has flown by. “I love to learn, and at Yardi I learn something new on a regular basis and the products I demonstrate are accelerating at such a fast pace. It is really exciting to watch them evolve,” she shared. Cara spends her days at Yardi in a role that features much variety. She prepares for demonstrations, including setting up proof-of-concept scenarios, breaking down complex concepts, and making it easier for her audience to understand. She also sets up and tests new functionality within the residential or coworking product stack to ensure it performs as expected and is ready to go live on demonstration environments. “I also work closely with our sales team to deliver webinars or product snapshots to our existing clients, so they get the most out of the solutions they have,” Cara said. She also enjoys attending conferences that feature emerging trends and technologies in real estate and highlight the needs and challenges of regional real estate professionals. “The most recent event I attended was the Student Accommodation conference which touched on some very relevant topics such as the cost-of-living impact on the consumer,” Cara said. Evolving...

A Complex Challenge Jan05

A Complex Challenge

Contraction in the proptech universe won’t be driven just by competition, consolidation or economic challenges, but also by compliance. That’s the top takeaway from a recent webinar hosted by Yardi’s Asia Pacific team. Bernie Devine, Yardi’s Senior Regional Director for Asia Pacific, sat down with Kevin Yardi, Vice President of Yardi, for the final installment of Proptech Insights for 2022. Kevin Yardi interfaces with some of the world’s largest real estate companies and has observed a shift in the proptech conversation as 2023 begins. The latest Metaprop Global PropTech Confidence Index, which has been a barometer of health for the burgeoning proptech industry since 2016, recorded its lowest investor confidence score to date. Confidence plummeted to 5.8 out of 10, down from its all time high of 9.3 just six months prior. While a “handful” of proptech companies are receiving “big cheques” a “long, long tail” is the recipient of far smaller investments, Kevin noted. Expect that long tail get much shorter, Kevin predicted, as the screws of regulation tighten over the next two or three years. Regulation is expected to ramp up across the Asia Pacific. Following a series of high-profile data breaches, the Australian Government is considering tougher financial penalties with fines up to AU$50 million. Japan’s laws governing the protection of data has been strengthened to match the gold standard of data protection regulation, the European Union’s GDPR. And China’s new data privacy legislation influences more than a billion internet users. Bernie suggested these moves signal a future model where consumers “containerise” their personal data and make it available on a “permission-only basis”. Real estate companies will be required to rethink every element of their business process, he warned. Kevin agreed. “You have to understand what data you have, why you are holding it, and how long you are holding it for. Those seem like straightforward questions. But if the data is sitting in all sorts of systems for reasons unknown it can be a challenging thing to start digging through.” Compliance is a “large, growing and challenging topic” for every company in the proptech ecosystem, but especially those operating at a small scale, Kevin added. “It is challenging for a small company to have the apparatus, the technical security teams, the folks who understand compliance and GDPR.” Real estate customers are reassessing their appetite to absorb the risk. Overlay that with the “operational technology data” collected by everything from “light switches and heat sensors” and “it gets pretty complex because your level of security needs to be much higher,” Bernie added. Yardi has been looking after client data for more than 22 years. Supporting more than two billion square meters of assets and US$6 trillion of assets under management, Yardi has a global footprint and products used in 80 countries. Even with a dedicated global compliance team to mitigate risk and enhance confidence, it’s “not always straight forward,” said Kevin. “Some regulatory bodies may be in conflict with each other. It takes vigilance and ongoing coordination.” So, what can we expect in 2023? The pair expect further aggregation to force companies to streamline their business operations and elevate their compliance processes. “Manual processes and Excel are really hard to scale and tend to be more and more error prone as a portfolio goes from 10 properties to 100 to 1,000 to 5,000,” Kevin concluded. Check out the previous episodes of Yardi’s Proptech Insights webinar...

EIA Updates Jan04

EIA Updates

This is the latest of our periodic updates on the U.S. Energy Information Administration (EIA), the U.S. Department of Energy’s statistical and analytical agency. EIA collects, analyzes, and disseminates energy information for the benefit of energy policymakers, analysts and consumers. Winter costs on the rise The EIA expects higher wholesale electricity prices this winter in every region of the country, with increases ranging from 33% higher in California to more than 60% in the mid-Atlantic and Central regions. Electricity price could peak more than three times higher in New England than elsewhere in the U.S., due to limited pipeline capacity for liquefied natural gas coupled with stronger global demand for LNG. In one encouraging sign for consumers, the EIA does not “expect retail electricity prices to increase as much wholesale prices this winter,” said Administrator Joe DeCarolis. Batteries on growth curve through ‘25 Developers and power plant owners plan to significantly increase utility-scale battery storage capacity in the U.S., reaching 30 gigawatts by the end of 2025. Batteries store extra energy produced by intermittent resources such as wind and solar. Battery storage capacity in the U.S., negligible prior to 2020, grew to 7.8 GW by October 2022, with 1.4 GW more capacity expected by the end of the year and an additional 20.8 GW through 2025, more than 75% of which will be in California and Texas. Developers have scheduled more than 20 large-scale battery projects to be deployed by 2025. The 409 megawatt Manatee Energy Storage in Florida is currently the U.S.’s largest operating battery storage project. Uptick in commercial building efficiency A recently released U.S. commercial buildings energy consumption survey report shows that the average total amount of energy used per square foot in commercial buildings decreased by 12% from 2012 to...