Increasing Investor Confidence

How are you providing timely information to your investors and internal stakeholders? If you manage investments, you already know that investors want information on demand. They often prefer to view it in convenient digital formats, often from a mobile device. You also know that executives require quick access to reports, and other staff need investor information fast. Do you have a single source of truth and easy data access across your organization? Are you using tech that increases transparency and investor confidence? If you’re not sure, read on. Consider this scenario: one of your company’s investors calls your office asking for details about an asset or a deal. The investor explains that her contact is  not responding. Given the urgency, she needs to speak with your CFO immediately. However, both the CFO and controller are in a meeting behind closed doors and are not to be disturbed. Does this sound familiar? Suppose you don’t manage the assets or your investment management and proptech systems aren’t integrated. Then you hit a wall, and your investor is bound to be dissatisfied when they can’t have instant access to the information they need. Here’s great news: a single platform for investment management and accounting with an investor portal offering self-service access to data and documents can go a long way to make investors happy and improve their confidence. This solution will also increase operational efficiency. With a single connected platform, you can centralize communications with existing and prospective investors, automate the management of capital call and distribution notices and improve collaboration on investment opportunities. You will also increase efficiency for internal stakeholders, such as executives requiring financial reports and investor relations staff needing access to investor information. These capabilities drive a higher level of investor confidence through the responsive online delivery of timely data. Investors can view property-level metrics, and investment managers can communicate new investment opportunity information through a secure portal instead of email. Empowering internal stakeholders Expand access across your organization to enable more staff to help investors when they need information, fast. With a secure investment management platform, more of your employees can have usable data at their fingertips, including key metrics and financials, without impacting your accounting team. That kind of access is one of the myriad benefits Holladay Properties is getting from their investment management platform, according to Wills Gardner, the company’s director of capital planning. “Holladay staff can get more information on their own and answer investor queries immediately, which is both more efficient and satisfying for investors,” Gardner said. Scott McGinness, CFO at Cohen Asset Management, can also attest to the value of a connected investment management platform. “I was probably the bane of my controller’s existence previously, but now I can log in to the system and generally I can pull anything I need,” McGinness said. Increasing investor confidence Recent changes in investor expectations stem from technological advances.  Current and prospective investors are more closely following the operational aspects of their real estate investments and how those assets will be enhanced in terms of value and income generation. Those aspects include a property’s day-to-day activity and productivity, such as rental income, leasing, marketing and capital improvements. Whereas investor reporting previously was largely confined to financial performance, today’s investors want not only the numbers but also what’s driving them, knowing that property operations impact cash flow and ultimately give rise to distributions and higher asset value.  A single connected technology platform enables analysis of investor, fund and portfolio key metrics, effective communication with investors and efficient management of fundraising and deal tracking.  Such a platform gives investment managers and investors alike clarity into their holdings, helps identify risks and provides full transparency from an investor to asset operations. That level of transparency increases investor confidence and satisfaction. A clear path to success Let’s look back at our original scenario. With an investment management platform that integrates with an asset’s operational data, the investor may have been able to view the information she needed on her iPhone. Satisfying tech-savvy, increasingly sophisticated and inquisitive...

Energy News Updates Dec01

Energy News Updates

We last summarized news and trends produced by the Energy Information Administration in April. Here’s some of what’s new from the EIA, a statistical and analytical agency of the U.S. Department of Energy that collects, analyzes and disseminates energy information. Commercial buildings grow larger and more energy-conscious Commercial buildings in the U.S. are getting larger and more oriented toward energy efficiency, according to data from 2018 released in September. The number of commercial buildings grew 6% from 2012 to 2018 while total floorspace increased by 11%. Commercial assets more commonly include features such as LED lighting, which is used in more than 2.5 million commercial buildings, and electric vehicle charging stations, which are available at more than one-third of buildings over 500,000 square feet. Renewable energy share grows Renewable energy is expected to account for 23% of U.S. electricity generation through 2022, up from 20% in 2020. About 50 gigawatts of solar and wind capacity is scheduled to come online nationwide during that period, with 2022 as the first year that growth in utility solar capacity will outpace wind capacity growth. Retail sales of electricity to the U.S. industrial sector will increase by 5.1% in 2021, a major element of the overall increase of 2.8%. Electricity sales will be somewhat lower (2.1%) in the commercial sector as many workers continue working from home. Batteries amp up U.S. battery power capacity grew by 35% in 2020 and tripled over the preceding five years, with much of the growth coming from energy systems co-located with or connected to solar projects. EIA projects that battery power growth will continue, with utilities reporting plans to install more than 10,000 megawatts of additional large-scale battery power capacity from 2021 to 2023. “Energy stored in batteries can react to second-to-second fluctuations in the electric grid, protecting grid power quality and improving the grid’s efficiency,” said EIA Acting Administrator Steve Nalley. “Battery systems can help store electricity generated from solar or other renewables so that electricity is available at times when demand is peaking, but generation from renewables is lower.” Natural gas price volatility looms Concerns about winter weather are contributing to volatile natural gas prices. “Mild weather has limited natural gas consumption and helped bring our storage levels closer to average in recent weeks, but cold winter weather could continue to put upward pressure on prices,” Nalley said in November. “Winter temperatures will be the key driver of natural gas demand, inventories, and ultimately prices.” Despite relatively high natural gas prices, the U.S. electric power sector continues to use significant amounts of natural gas for generation, with exports of liquefied natural gas in October 2021 rising 37% above the October 2020 level. Stay tuned for more EIA updates in 2022. Meantime, learn how Yardi software solutions help residential and commercial property owners manage their energy consumption efficiently and meet ENERGY...

Making a Difference Nov30

Making a Difference

‘Tis the season for sharing and caring. Giving Tuesday is a terrific opportunity to share the giving spirit of the holidays. By supporting causes that are close to our hearts, we can amplify their message and their impact on our communities. In honor of Giving Tuesday, we are recapping a few nonprofit features of 2021. We welcome you to join Yardi in supporting these causes. Angela’s House supports medically frail children and their families.The organization arranges life-saving home care services, medical supplies, assistive technologies, home modifications and counseling services. Through its programs, families are able to focus on one another rather than medical challenges. Santa Paula Animal Resource Center (SPARC) is a nonprofit shelter that provides progressive programs, resources and services to help rehabilitate and rehome abandoned and stray animals. SPARC celebrates the human-animal bond and aims to eliminate the barriers that hamper the advancement of companion animal welfare. Their efforts promote a future that considers all pets within the community, not just those who end up at a shelter. Connections for the Homeless took a creative spin on providing shelter and food for the housing insecure. Partnering with landlords, hotels and restaurants during the early stages of the pandemic helped the organization support more nearly 3,400 individuals.   kidSTREAM reignites the passion for learning through play. The organization provides an interactive environment where kids explore, play and discover. Each experience aims to inspire and empower kids to become critical thinkers, innovators and life-long learners. Flusterpost E.V. is a German nonprofit that helps families cope with cancer diagnoses to develop greater preparedness, resiliency and hope. Participants engage in counseling, play therapy and additional resources. All services are confidential and free of charge. Clients can access services in person, by phone, email or via social media. Dress for Success Boston  uses clothing as a steppingstone to...

Transparent Data Nov24

Transparent Data

How will transparent data revolutionise real estate? This was the underlying question for Ben Robinson, CEO of Raffles Quay Asset Management in Singapore, when he sat down with Yardi’s Bernie Devine recently for the latest instalment of Yardi Proptech Insights. Ben oversees the largest integrated mixed-use development at Singapore’s Marina Bay. In real estate terms, One Raffles Quay and Marina Bay Financial Centre constitute 4.5 million square feet of prime Grade A office and 179,000 square feet retail space. In human terms, the precinct is usually the workplace of 26,000 people. Four years ago, RQAM realised digital technology was the key to engaging with this 26,000-plus workforce. “We had no brand with the individuals who worked in our precinct, and we needed to communicate with them directly. That’s where we started our digital transformation,” Robinson says. By the Bay was launched in 2019. More than a tenant app, By the Bay is also a booking system for RQAM’s BaySpace flexible workplace solution. It is a connector that gives people access to BayFit exercise classes and education. It is a platform to support BayDine and the array of food and beverage options, rewards and discounts at Marina Bay. And it puts BayGreen, with information and ideas to live and work more sustainably, into the palm of people’s hands. Fast forward to 2021. With just 15% of people at their desks each day, due to work-from-home orders, By the Bay has proved an invaluable tenant engagement tool. Among the current benefits are mindfulness classes, a national steps challenge, complimentary gym passes and health assessments, as well as dining vouchers and exclusive perks. “We’ve got a great playground at our disposal,” Robinson noted. By the Bay supports RQAM’s vision to deliver “premium” hospitality experiences, Ben added. By the Bay’s digital access controls, for example, not only allow occupants to enter and exit their building safely in a few smart phone clicks. People can also invite guests into the space, which means concierge can “come out from behind the desk and act as experience ambassadors” rather than “taking numbers and handing out cards.” By the Bay’s anonymised data, complemented by data from building information systems, is stored in a data lake dubbed BayWatch. The data lake will take time to fill, Ben said. Understanding future trends is dependent on a solid history of past data. But with the right tools, we can “forecast the future of space – and this is something we haven’t been able to do before,” Devine added. Devine, who is responsible for Yardi’s growth in Asia, said the pandemic had forced a rethink of how people use space right across the region. Real estate organisations now realise they aren’t space providers – they are service providers, he said. “I’m seeing base rent as a percentage of total revenue getting smaller – not because base rent is going down but because the proportion of value add is increasing.” “But that brings complexity” and demands more sophisticated back-end systems. Yardi is on a journey of “connecting the property to the business,” Devine added. In June, Yardi acquired UK-based Forge Bluepoint, a cloud-based visitor management solution that connect turnstile, elevator and parking data to other Yardi platforms, like its all-in-one co-working management system, Kube. While RQAM expects some “rationalisation,” Robinson does not predict a “significant” drop in space requirements. Tenants will be looking for more room for collaboration and projects, for example, and will need more overflow space on peak days of the week. This is where BaySpace can step in. BaySpace is more than a flexible workspace offering. It is an “enterprise solution” that can support tenants with everything from fully-designed and fitted space to financing, Robinson noted. RQAM’s analytics capabilities already provide rich insights into this flexible workspace offering and “forward indicators of growth and contraction requirements are going to be very powerful.” Robinson suggests starting with “quick and dirty...

Amping Up Amenities Nov24

Amping Up Amenities

Amenities like fitness centers, laundry rooms and pet services are standard at many residential and commercial properties. So ordinary are they that property managers are striving to deliver increasingly elaborate offerings to attract residents and tenants. Real estate investment information source Millionacres.com says, “If you want your units to fill up quickly and stay filled, you’ll want to offer the best apartment amenities possible for your tenants.” That doesn’t just mean rooftop pools, private restaurants, pet spas and indoor skate parks for high-end space. “Desirable amenities can be offered at smaller properties, too.” Dog grooming services can be a plus for pet owners. As for commercial space, San Diego commercial real estate investment firm Locale notes, “Spare corner weight rooms have transformed into fully equipped, professionally staffed fitness centers; the corner coffee cart has evolved into a chic, onsite café complete with baristas serving specialty coffee; and outdoor seating areas have expanded to include meditation gardens, dog runs, and sports fields.” Residential: Exceeding the expected As Millionacres and other property management industry observers suggest, owners and managers might want to consider stepping up their game for residents who expect: More than just enough space for parking and bikes. Service enhancement options include assigned off-street parking with additional spots for guests and bike storage, and electric vehicle charging-equipped garage parking.A larger welcome mat for Rover. Consider expanding the pet-friendly policy with a dog park or grooming\spa services.Energy efficiency. Many tenants seeking sustainability and cost savings opportunities expect upgrades like compact fluorescent lamps instead of incandescent ones, solar panels or fuel cells rather than grid-based fossil fuel power with, LEED certifications, and ENERGY STAR® certifications for refrigerators and other appliances that meet stringent energy-efficiency standards.Better building heating and cooling systems, featuring central air and heating systems...

Digie Awards Nov23

Digie Awards

Five Yardi® clients earned Digie Awards, one of the highest honors in the commercial real estate industry, at the recent Realcomm | IBCon 2021 event. Short for Commercial Real Estate Digital Innovation, Digies recognize outstanding companies, real estate projects, technologies and the next generation of smart, connected, high-performance, intelligent building systems. Digies are also awarded to individuals who have positively impacted the industry through the application of technology, automation and innovation. This year, Realcomm focused on honoring those who are “leading the charge on COVID-19 strategic and transformational technologies, creating a more efficient, effective and adaptive industry and shaping the future of smart buildings.” Among this year’s winners were the following Yardi clients: QuadReal Property Group won the Most Intelligent Portfolio, Office award, in recognition of their “smart, connected, high performance intelligent building concepts.” In recognition of their “extraordinary level of automation, technology and innovation to their business processes,” The Inland Real Estate Group of Companies won the Best Use of Automation, Retail Real Estate, JLL won the Best Use of Automation, Commercial Services and Invesco won the Best Use of Automation, Investment Management. Ilan Zachar, Senior Vice President & CTO, Carr Properties won the Realcomm Julie Devine Digital Impact Award that acknowledges “those individuals who saw things ahead of their associates, had the courage to leave the mainstream and the tenacity to keep standing up after many failed attempts.” Zachar directs all corporate technology, strategy, and standards for Carr Properties. “Yardi is impressed with the extraordinary achievements of the companies and standout individuals who are shaping the future of the industry through transformational technology. We applaud all the award winners and look forward to what we can achieve together as an industry moving forward,” said Rob Teel, senior vice president of global solutions for Yardi. Teel was a...

Argentum Leadership Summit...

It’s nearly time for the annual Argentum Senior Living Leadership Summit, a 4-day event gathering thought leaders and policy makers in senior living. This one takes place December 5-8 in Amelia Island, Florida. With a range of speakers set to host inspiring sessions, the can’t-be-missed event will spark conversations on the most pressing topics in senior living. Most importantly, leaders will discuss relevant solutions for today’s challenges. You’ll find team Yardi at the summit, too. We’re pleased to be a sponsor and we can’t wait to meet you there. Check out the details Argentum is a leading association in senior living. They’ve proudly advocated for choice, independence and quality of life for all seniors since 1990. They’re expert at bringing industry leaders together for insightful discussions, networking and learning. And this year’s summit, inviting C-suite and corporate leadership from senior living’s most influential companies, is no exception. Hosted at the Ritz-Carlton in Amelia Island, the schedule includes: The Argentum Board of Directors and member group meetings (December 5-6)The Argentum Advocacy Fund Golf Classic (December 6)The Senior Living Leadership Summit (December 7-8) Speaking sessions start December 7, covering intriguing topics such as: Tested Strategies for Driving OccupancyDemographic Strategies for the Post-COVID EraWorkforce Technology and Solutions You can check out a more detailed agenda from Argentum. For a list of event speakers, visit this page.   Meet with us at the Argentum Senior Living Leadership Summit Not only is this a stellar opportunity to convene with fellow leaders, address industry obstacles and discuss the future of senior living, it’s also a chance to explore innovative solutions built to drive your business forward. We invite you to find team Yardi to chat about our single connected solution, designed for the unique needs of senior living management. We’ll...

Creative Solutions Nov21

Creative Solutions

He said it best: “The housing market is just going gangbusters across the country, that’s a good thing for the economy, but it makes it challenging if you’re looking for a rental property.” That’s a quotation from Maj. Gen. Omar Jones, deputy commanding general of Army Installation Management Command. He voiced what many renters, including military families, are feeling this year. Fortunately, military families are receiving support in two creative ways. One person’s joy is another person’s challenge Military families face reassignment, or relocation, every 2-3 years. This year, military families have found it increasingly difficult to transition into their new assignments. The relocation challenge is threefold: The housing market is thriving, with buyers and renters both combatting high rates (and each other) for deals.High demand on movers, paired with staffing challenges, has caused scheduling delays. The industry has experienced a 25% decrease in labor and a nation-wide backlog in scheduling.If the spouse is working, the spouse must secure new employment in their field within the designated re-assignment window.On average, military families are given assignment instructions 166 days before their report date. Since the summer, that hasn’t been enough time. The delay has been so burdensome to families that Army authorities are delaying scheduled changes of station. To support families, the Army has initiated a program to help nearly 54,000 soldiers find housing. The program includes more lead-time for families to find housing and secure movers as well as an innovative agreement with Lendlease. Lendlease is an international hotel group that now specializes in privatized military housing. The organization signed an agreement that permits soldiers and their families to secure temporary housing at designated hospitality sites while continuing their search for a house. Military families will receive standard housing allowances in these cases. Additionally,...

Energy Innovation Nov20

Energy Innovation

The Advanced Research Projects Agency-Energy, which performs R&D for the U.S Department of Energy, sponsors initiatives by businesses and academic institutions to improve energy efficiency.  Here’s the latest of our periodic summaries of active ARPA-E projects. Creating a new version of wood Alternative materials creator InventWood of College Park, Md., is working to develop lightweight 3D corrugated honeycomb structures to replace metal counterparts. 3D wood has one-third the density and one-fourteenth the cost of aluminum with the same mechanical strength. And the proposal could produce a big sustainability benefit as well – a 90% reduction of CO2 emissions in the manufacturing process. Adding the human touch to energy savings About 75% of U.S. homes have smart meters, according to Smart Energy International. While giving homeowners greater access to their energy-use data is a positive step, a team Stanford University researchers believes that optimizing energy and cost savings with that information will “require an understanding of human behavior.” Using human behavior to optimize energy and cost savings could “transform the way Americans interact with our energy-use data,” the team says. A custom-built web-based platform collects historical electricity data for experiments to learn what triggers homeowners to respond. The experiments include financial incentives and a calculator that illustrates the potential savings of efficient appliances. Once completed, the platform and new behavior experiments could help homeowners save energy, improve their energy efficiency and reduce utility bills. Making the power grid cleaner ARPA-E is funding four projects to develop technology to remove sulfur hexafluoride, a gas that’s utilized as an electrical insulator and arc suppressant, from the U.S. power grid. It’s a more potent greenhouse gas than carbon dioxide. Proposals from the funding recipients – the University of Connecticut, Georgia Tech, GE Grid Solutions of Charleroi, Pa., and...

Post-Pandemic CRE Priorities Nov19

Post-Pandemic CRE Priorities

Canadian commercial real estate tenants and investors are becoming increasingly sophisticated in tracking their assets. Their inquiries are expanding beyond payments and quarterly reports. The overarching theme for the next six to 12 months will be environmental, social and governance (ESG) practices supported by reliable data. To remain competitive, property owners, operators and landlords must take these priorities into account. Upgrades drive ROI An emphasis on healthy workspaces will be a principal legacy of the pandemic, prompting owners and occupiers alike to prioritize such things as HVAC upgrades and touchless restrooms. Many owners are seeking WELL Building Standard™ and Fitwell® certifications, which bolsters facilities’ current status while preparing for potential future virus-related health emergencies. Significant ROI is possible by attaining one of these building certifications, with studies showing that effective rents are between 4.4% and 7.7% higher per square foot for properties that hold them. Such certifications also help satisfy health and well-being concerns among asset and fund-level stakeholders, apply to international assets and contribute to GRESB scores. Tech enables workplace flexibility, energy intelligence With almost half of working Canadians wanting a flexible work schedule and guaranteed safe return to the work environment, corporate tenants and property owners will be seeking platforms for office hoteling to aid with occupancy management. These mobile solutions help organizations streamline communication, enforce capacity limits and allows staff to reserve their desks in advance, in real time. This increased transparency can enhance the employee experience and boost workplace confidence. Similar technology on the marketplace includes ESG-related tools with energy intelligence and automation capabilities that gives operators and maintenance teams real-time access to building performance metrics. These features help staff reduce operating costs, promote efficiency and improve occupant comfort from anywhere. By monitoring HVAC investments and sending automated notifications directing staff to address potential equipment failures, such systems can produce average HVAC energy savings of 5-10%. The investor’s stake These new capabilities are as important to investors as they are to landlords and tenants, according to a  CBRE report on investor strategies. They’re weighing amenities connected to health, safety and shift flexibility more heavily in their investment decisions. ESG also carries more weight in investment decisions, with investors recognizing its impact on energy costs, insurance premiums and other operational elements. That will prompt more investments in capital needs to make buildings more resilient. Investors also increasingly expect on-demand access to key metrics, capital transactions, documents and reports. Similar to energy management platforms, investment managers can leverage a single connected suite of solutions to gain a comprehensive view of investment performance and improve collaboration among property operators and investors. Learn how Yardi solutions for flexible workspaces, energy management and investment management meet and centralize the needs of property owners, tenants and investors of today and...

Health + Home Nov18

Health + Home

Did you know that our home environment impacts how we feel? During the holidays, multifamily professionals can increase the perceived value of the property while supporting resident wellbeing and promoting resident loyalty. It all starts with decorating. Drive value while helping residents fall in love with your property again Resident retention saves time and money. Per the National Apartment Association, it costs between $1,000 to $5,000 to turn a unit. If you gained just one renewal each month, you could save $20,000 in annual expenses and about 96 hours of maintenance labor. Promote resident retention through thoughtful programming that shows residents that you care. This includes special programming to support residents who are struggling through the holiday season. Design programming can be a great place to start. Design to beat winter blues together Nearly 40 million Americans experience depression and anxiety, reports the Anxiety and Depression Association of America. The fall and winter seasons are especially challenging. The American Family Physician reports that up to 26% of Americans suffer from seasonal affective disorder (SAD) formerly called seasonal depression. Scientists note a correlation between less exposure to sunlight (vitamin D), decreases in serotonin and an uptick in melatonin. Those factors may exacerbate existing conditions around holiday social and financial stresses, loneliness and grief. Community managers are not clinicians. There are several resident services that community managers can offer, however, to support resident wellbeing during the holidays. Focus on fun yet effective services that turn resident homes into mental health havens. Host healthful interior design classes Consider inviting a healthy interior design expert to speak to your residents. The American Society of Interior Designers has representatives nationwide. You might also research environmental psychologists in your area. These specialists understand how our built environments can impact our...

American House

Founded in 1979, American House Senior Living Communities is continuing their legacy of care today. Their vision has been — and still is — to provide quality housing for seniors at an affordable price. American House operates over 54 communities centered in Michigan and spread throughout the Midwest, New England and Florida. This Yardi client is the gold standard for passionate resident care, which they’re currently taking to the next level. We’re proud to spotlight American House for working through SAGECare, an inspiring step toward building LGBT-inclusive communities. American House joins SAGECare What does SAGECare entail? First, let’s cover who SAGE is. Dating back to 1978, they’re a fast-moving organization with a mission to support LGBT seniors. Their advocation efforts extend across federal, state and local levels. More specifically, SAGE works to: Mobilize LGBT people and alliesEducate policy makers on LGBT aging issuesRelease original policy briefs and other key resourcesLead coalitions that include diverse seniors in policy conversationsMarch and rally with LGBT seniors, plus allies SAGECare is SAGE’s training and consulting division, which assists senior care agencies in creating LGBT-inclusive services. They’ve proudly trained over 60,000 providers across the country — all of whom earned the respected SAGECare credential. Completing the training is a purposeful mission for American House. SAGECare focuses on improving providers’ knowledge in the LGBT space, teaching them to identify bias against LGBT seniors and ultimately, helping them address prejudices that impact LGBT seniors’ quality of care. SAGECare also provides marketing materials to companies like American House, offered once the training is complete. This includes symbols for providers to highlight their earned credential, along with their commitment to LGBT seniors. They’re also listed as a credentialed provider on SAGE’s website. Learn more about SAGECare, a cultural competency training program for providers...

Maravilla Seniors

Throughout the COVID-19 pandemic, seniors and their families have experienced loneliness and isolation. From enforcing strict lockdowns to limiting in-person visits, senior living communities have seen this firsthand. So how can communities work to improve seniors’ quality of life? One theory, developed by two UC Santa Barbara professors, is through virtual reality (VR). Specifically, through VR sessions with seniors and their loved ones. This theory is being put to the test with seniors at Maravilla Santa Barbara. Testing the power of VR sessions With 21 pairs of Maravilla residents and remote family members, professors Tamara Afifi and Nancy Collins began their research in 2020. Their goal remains to show the impact of VR technology on social connection — and quality of life — for seniors residing in communities. Not to mention, the impact of VR sessions on these seniors’ family members. In this highlight, Collins explains the bigger picture of the study. “The long-term goal is to find ways to use innovative technologies to reduce social isolation, strengthen family bonds and improve quality of life for older adults with varying levels of cognitive impairment,” she said. According to the pilot study findings, VR sessions reduced feelings of loneliness, improved moods and helped enhance seniors’ quality of life. For families, the VR sessions led to better moods and less caregiver guilt. “A family is a system, so when you help one person, you’re helping the whole family,” explained Afifi. “This is especially true for caregivers, who can bear a particularly heavy burden in terms of stress and guilt.” Afifi and Collins also tested how memory decline effects seniors’ engagement during VR sessions. They found that seniors with mild cognitive impairment were more kinesthetically engaged in the VR experience, whereas seniors with mild to moderate dementia...

Fresh Enhancements

We’re always working to upgrade solutions in the Yardi Senior Living Suite. We chat with clients, test new ideas and make adjustments each year — all to help senior living providers succeed. Improvements and fresh features are bundled and released for our clients to enjoy.   With that, Yardi Voyager Senior Housing 7.15 is now available. It’s packed with exciting features and enhancements. We’re here to share it with you. Explore this rundown of the latest and greatest functionality in the Yardi Senior Living Suite:  Voyager Senior Housing New amenity-based pricing featureAbility to add attachments to move-in checklist itemsPrimary payer change function for residents whose services can’t be managedFresh reports including financial move-in and move-out activity Watch the overview video RentCafe Senior CRM Prospect persona and competitors trackingAmenities and inventory matchingOption to assess residents for billing recommendations, included in the leasing workflowNew preset report filters for your end users Watch the overview video EHR Ability to set minimum and maximum durations on default care plan actionsNew service plan audit report that shows changes in care plansOption to perform assessments on a prospect’s co-occupantUpdates to alert charting that enable separate corresponding alerts Watch the overview video eMAR Prescribers Connection interface now available for U.S. pharmacies, Kroll interface now available for Canadian pharmaciesNew EPCS feature for physicians to sign orders for controlled substancesOption to chart certain interfaced orders before they’re verifiedNew physician review queue to periodically review and digitally sign residents’ order profiles  Watch the overview video In addition to watching the overview videos, you can also read our new features guides. Ready to upgrade? Get in touch and we’ll get to work. If you’re new to Yardi, check out our brand-new infographic to learn about our solutions in senior living....

Celebrating Unsung Heroes Nov12

Celebrating Unsung Heroes...

What comes to mind when you think of Yardi software development? Techies at their desks, typing out code? Designers creating user-friendly interfaces? Clinicians, nurses and accountants might not be first in mind, but they play an essential role in the development of our senior living software. Get a behind the scenes peek at the workings of our Clinical and Compliance teams. These specialists come from a range of backgrounds, lending their expertise to develop software that works for you. Nurses, accountants, operators, oh my! Programmers and graphic designers create software, but it takes droves of other specialists to customize program features for the unique needs of clients. That’s where the Clinical and Compliance teams work their magic. It’s a two-fold purpose: to interpret the needs of clients (and relay it to the techies) and to interpret legalities that must be considered during development and updates. Lisa Conrad, manager of Clinical and Compliance at Yardi, leads a team of medical professionals and regulatory specialists that advise on product design and content. “There could be a misconception that the team is all nurses.  Our team is comprised of members from differing professions and education. Each team member does have a healthcare background, but we cover the gamut from billing, operations, regulatory and clinical expertise.” Conrad, for example, began her career in informatics as a director of nursing for a provider in a long-term care facility. She adds, “We feel these diverse skill sets help us provide well-rounded content and solutions for the clients.” Big challenges offer big rewards for senior housing software professionals Senior wellness software is a particularly delicate field. Unlike commercial and multifamily tools, software that contains and transfers electronic health records ensures positive health outcomes. Prompt, efficient and accurate programs are more important...

Affordable Housing Nov11

Affordable Housing

Did you know that one of ten homeless Americans is a veteran? That’s more than 40,000 veterans without secure housing. The number of women among them is rising, per the United States Interagency Council on Homelessness (USICH). Volunteers of America is stepping up to help vulnerable female veterans get back on their feet. Actively supporting an overlooked population Veterans make up more than a tenth of people facing housing insecurity. Among them, about 20,690 veterans rely on shelters or transitional housing. The remaining 15,366 are unsheltered, living in cars or on the streets. Per USICH, women compose about 9% of veterans who are experiencing homelessness, and women are also about 9% of the overall veteran population in the U.S. Veteran women are more than twice as likely as non-veteran women to experience homelessness. Unlike their male counterparts, more than one third of veteran women who experience homelessness were subjected to military sexual trauma. They also have lower rates of substance abuse and mental health concerns than their male peers, the USICH report states. Family activity is also a differentiator. Veteran women experiencing homelessness are likely to be an active part of a family unit. The average family size is 3.6 members. Women are expected to become 12% of all active-duty members of the armed forces by 2025. The rise in participation foreshadows an increased necessity to address the unique needs female veterans.  Judge Sarah J. Harper Village, serving women who have served America Volunteers of America (VOA) Ohio and Indiana have teamed up to support female veterans in the region. The organizations broke ground on Judge Sarah J. Harper Village, a long-term affordable housing community. The 12-unit project will have two buildings, each 3,000 square feet. Both have six fully furnished units. There are...

Home, Smart Home

Smart home technology is expanding rapidly. Renters want smart home amenities for security and convenience. Property managers are interested in its easy and productive operational management. Smart home technology is also used for risk mitigation and real-time insights to improve buildings’ sustainability as well as property managers’ understanding of their properties’ processes. RentCafe Home IQ is Yardi’s smart home solution. It allows for increased revenue opportunity and resident retention by offering advanced technology features and experiences. Home IQ deploys and manages a fleet of connected devices without installing custom or third-party software, making it easy to add convenience, streamline operations and manage risk. With new technology comes fresh considerations and questions. Here to help is Vice President Greg Smith. He’s been with Yardi more than 20 years and has been instrumental in the development of Home IQ. Below he shares a little insight into the smart home market, why we made Home IQ and how it compares to other products for multifamily. What is the current state of the smart home market? Smith: Smart home is hopping! And it’s not just for the techies out there. We’ve seen that renters are beginning to look for it and, in some asset classes, expect it. The good news is that smart home tech has as many (or more) benefits for the property owner and operator as it does the resident. Why is Yardi getting involved? Smith: Smart home tech is a natural expansion for Yardi. It’s easy to think of smart home as just a resident function, but the reality is that it can be a huge efficiency gain for the owners and operators. Yardi is always working on solutions to help our clients improve asset revenue and decrease risk, and smart home tech fits the...

Simplify Your Job Nov09

Simplify Your Job

Have you been navigating ENERGY STAR® Portfolio Manager on your own? There is a better way. Get to know the ENERGY STAR Benchmarking Team for simplified and improved reporting. Meet your ENERGY STAR reporting experts ENERGY STAR Benchmarking Team is located in the Yardi Atlanta and Colorado Springs offices to conveniently serve clients in different time zones. Yardi’s ENERGY STAR team consists of eight experts in all aspects of ENERGY STAR reporting and the many systems that these reports feed. The department is annually recognized as an ENERGY STAR Partner of the Year and received the Sustained Excellence Award in 2021. The team supports client use of ENERGY STAR Portfolio Manager, a U.S. Environmental Protection Agency system.  The team assists with regulatory compliance, finance and sustainability reporting requirements. They collaborate with clients to setup and maintain portfolios of properties in Portfolio Manager. This includes syncing data from ENERGY STAR with reporting systems designated for each property.  The existence of the department embodies part of the Yardi mission statement, “take care of our clients.” Randy Moss, senior team leader, CSD, has been with Yardi for nine years. He joined Yardi as part of a larger acquisition but has continued on due to company culture. “Yardi is a great place to work and encourages everyone to seek ways to better take care of our clients,” says Moss. “ENERGY STAR Benchmarking started as a client request and today serves over 4,000 properties for Yardi clients. It is very rewarding to support our clients using ENERGY STAR for reporting to all the different systems needed.” Wait, Yardi offers support for ENERGY STAR Portfolio Manager? Yep! The team works synergistically with other departments within Yardi to support clients’ reporting needs. The team works with utilities, industry groups and regulators...

Energy Efficiency Day Nov09

Energy Efficiency Day...

On Oct. 6, Energy Efficiency Day addressed a topic with vast local, regional, national and global implications throughout the year. Yardi was pleased to observe the event with more than 800 local governments, universities, organizations, corporations and utilities. This year’s event coincided with the 30th anniversary of the U.S. Environmental Protection Agency’s (EPA’s) climate partnerships program, a collaboration between private and government organizations that has prevented more than 6 billion metrics tons of greenhouse gas emissions – more than all U.S. carbon dioxide emissions in 2019. “Energy efficiency is the cheapest, quickest way to meet our energy needs, cut consumer bills and reduce pollution. Energy efficiency is also an economic engine, supporting over two million jobs nationwide in manufacturing, construction and other fields,” according to the Energy Efficiency Day organization’s website. Energy Efficiency Day, an early-October fixture since 2016, promotes awareness by encouraging home and business energy audits, energy-saving competitions, success story sharing using the #EEDay2021 hashtag and more. Participants seek to promote easy-to-implement measures for businesses and individuals, including: Scheduling regular inspections for refrigeration equipment, furnaces, heat pumps and other equipment.Turning on computers, monitors, printers and fax machines only when they’re needed.Locating and sealing air leaks around the house. Even hidden drafts can hurt your energy efficiency.Staying cool in school. Did you know that the average 200-square-foot dorm room can generate as much greenhouse gas pollution as the tailpipe emissions of a car driven more than 2,000 miles? Consider setting rooms with individual temperature control a few degrees higher to reduce the cooling system’s energy use.Purchasing home appliances carrying the ENERGY STAR® label, which certifies adherence to strict EPA energy-efficiency standards.Turning off lights when leaving the room and consider swapping regular light bulbs for LEDs.Running ceiling fans clockwise and at low speeds during...

Innovation Prevails Nov08

Innovation Prevails

The NMHC OPTECH Conference & Expo returns as an in-person gathering Nov. 8-10 in National Harbor, Maryland. 2021 NMHC OPTECH, presented by the National Multifamily Housing Council, provides multifamily property owners and operators with tools and insight that will help them compete and prepare for emerging challenges in the pandemic’s aftermath. Yardi is a top-tier Chair’s Circle Sponsor of the conference. Booth 401 is “where success happens” for attendees, featuring demos of: REACH by RentCafe®, which improves marketing ROI with advanced digital marketing services including SEO, PPC, social media, reputation management and performance analytics.RentCafe® Home IQ, which increases revenue and efficiency with smart home automation.ScreeningWorks® Pro, which mitigates fraud risk by seamlessly incorporating credit reports, rental history, income and other publicly reportable civil or criminal data in the leasing process.The Yardi® Multifamily Suite, which drives better results with a single connected solution for property management.Yardi® Breeze Premier, an easy-to-use, all-in-one marketing, management and accounting platform. Yardi also plays a central role in several presentations, starting with the opening general session, “Here Comes the Sun! Industry Leaders Look Forward to a Brighter Future.” Richard Malpica, Yardi vice president and Eastern region general manager, will moderate a discussion with industry leaders from KETTLER, CAPREIT and RKW Residential about opportunities in 2022. Also on Tuesday, Nov. 9, Chris Lindish, director of the REACH by RentCafe digital marketing agency, will present an express session on “Marketing Data Exposed: Uncovering Metrics that Drive Results.” The day will close with a panel moderated by Michael Tuer, Yardi vice president and Central region general manager. Panelists from BH Equities LLC, Mg Properties and Draper & Kramer will discuss “How to Make Better Technology Decisions” and share their approach to evaluating new technologies and striking a balance between organizational goals and role-based...