Unconventional resident events can add a fresh and exciting dimension to a property management company’s community-building effort. The benefits of stepping outside the traditional event model will help to retain residents and attract new ones. Unique gatherings can strengthen the sense of community among residents. Here are some types of think-outside-the-box events to explore over the holiday season. Spice up the community with Escape Room Challenges or Mystery Dinners. Transform common areas or vacant units into escape rooms where residents work together to solve puzzles and mysteries. Include a mystery dinner to solve the crime during the meal, then have residents go out and explore around the building. Add a scavenger hunt and have prizes at the end for the winners. Plants and Pets. Plants are so good for the environment and cleanse the air around them. Arrange a gardening event where residents exchange plants, seeds or gardening tips. Microgardening is popular in smaller apartments, so maybe provide a small basil plant to start residents out with. Don’t forget about the four-legged residents. Look for a local pet mobile photographer for the holidays so residents can get their holiday cards made. Culinary Adventures. Delve into the world of cooking classes as a resident event. Cooking classes can enhance residents’ culinary skills, foster connections and offer a fun and educational experience. Find a local chef or culinary expert to lead the classes and provide some sample recipes or themes for these classes. For example, set up some spaces in the common area to learn how to make fresh homemade pasta, which can be a romantic date night for those during Valentine’s Day. Another example would be to decorate holiday cookies together. Provide the cookies already baked, then have various colors of icing in pipping bags...

Consumers are agog over the Samsung Galaxy, Motorola Razr, Apple iPhone, Google Pixel and other advanced smartphone models. These devices can make calls, send texts, take photos, respond to verbal instructions, provide a games platform, access digital assistants, navigate routes, generate budgets – the list of capabilities gets longer just about every day. Starting in 1908, when a U.S. patent for a wireless telephone was granted, mobile phone capability evolved into two-way radios and networks with very powerful base stations that covered wide areas; signals weren’t passed among cells. Motorola prototype A major milestone came in 1973, when Motorola mass-produced the first handheld mobile phone. This was 0G of the 5G technology progression. Motorola engineer Martin Cooper initiated the first handheld cellular phone call in New York City on April 3 of that year using a 2-1/2 pound prototype nearly the size of a shoebox. “I’m calling you on a personal, handheld, portable cell phone,” Cooper told the call’s recipient, an executive at Motorola competitor Bell Labs. Motorola launched commercial cell phone service 10 years later with its 2-pound DynaTAC 8000x, which retailed for $3,500—$4,000. In the 1990s the modern cell phone took shape with much smaller and more user-friendly products. “Roughly every ten years since 1979, each newer generation has changed how we communicate, further improving our way of life,” says CENGN, a coalition of Canadian technology interests. As of 2021, 97% of Americans owned some type of cell phone, Pew Research Center reported. Smartphones take off Between 2004-06, “smartphone” entered the vernacular. That’s when, according to British IT services provider Air IT, “phones began to seriously bridge the gap between something you used to make calls and send text messages, to something altogether more useful.” The 50-year progression of cellular technology generations,...

The fall semester may just be coming to a close, but preleasing for the 2024-2025 school year is already underway and off to a strong start, states the latest Yardi Matrix student housing report. Advance leasing for next school year started off extremely strong, reaching 25.2 percent for the Yardi 200 in October, well ahead of the previous record 10.4 percent preleased in October 2022. Preleasing this year is indicative of solid renewal activity early on and high demand for housing at many major universities, with 14 schools already more than 40 percent preleased. As for this year, final occupancy for the Yardi 200 markets for the fall 2023 semester settled at 94.6 percent in September 2023, compared to 96.2 percent in September 2022. Lower occupancy this year can be partly attributed to new properties that delivered late or struggled with preleasing. Properties that were completed in 2023 only reached 81.7 percent occupancy for the fall 2023 semester. Last month, average asking rent per bed was $854 among the Yardi 200 markets for the 2024- 2025 school year, slightly higher than where it ended the 2023 preleasing season in September 2023 and 6.6 percent higher than October 2022. “Some of the schools with the fastest preleasing are already seeing rents up 15-25 percent year-over-year, as operators take advantage of the surge in demand,” states the report. Read more findings from the latest student housing 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, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...

To help professionals across senior living prep for industry changes ahead, we joined Senior Housing News (SHN) last month to host an insightful roundtable webinar — Senior Living in Flux: C-Suite Changemakers Discuss a Transforming Industry! Featuring experts Sarabeth Hanson of Harbor Retirement Associates (HRA), Earl Parker of Commonwealth Senior Living, Sevy Petras of Priority Life Care and Yardi Director of Healthcare Solutions Fil Southerland, the conversation offered tangible ways to navigate change expected for 2024. Read on to discover the webinar’s key takeaways on topics crucial to senior living today: Major ways the senior living industry is changing The importance of the middle market How to meet the needs of a new consumer Key ways technology is shaping the industry’s future 2023 Changemakers + Yardi expert share advice and insights When asked where they see the industry changing, the panelists shared a range of answers. Sevy focused on the power of technology and data, stating the two will push the industry forward come 2024. For Sarabeth, change is centered around serving a new consumer — baby boomers — as well as senior living staff, who now have different expectations than years prior. Earl brought the conversation back to technology, emphasizing the small margin for error in today’s industry and how that’s driving a focus on data. He spoke to Commonwealth’s success with Yardi Senior IQ — our business intelligence powerhouse — in harnessing real-time data to make sharper, informed decisions. Fil relayed Yardi’s focus on digital transformations and accelerating complex workflows to meet the needs of today’s communities. Sarabeth chimed in to share more positive experiences with Yardi’s evolving solutions, focusing on the benefit of using fully integrated tools that unite on a single platform. Shifting gears to speaking on the middle market,...

In 2022, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will bring you the stories of those organizations and insight into how they aid their communities. Today, we introduce Page Youth Center (PYC), founded in 1984 in Santa Barbara, Calif., a youth center for children with a broad range of sports, fitness, wellness and recreational activities, all for a reasonable cost. The youth center is a safe and friendly environment for children and their families. They also offer recreational programs for adults in the morning and evening, including badminton, pickleball, jazzercise, open gym, and adult basketball leagues. PYC focuses on providing an excellent Blenders Basketball experience to 1000 youth participants and continues to grow and expand its Spring volleyball program for both boys and girls. The center also plans to offer Summer Sports Camps throughout the Summer break and provide scholarships to those in need, specifically for those in Old Town Goleta. In March 2024, PYC will have its annual gala to raise awareness and funds for these programs. Funding from Yardi helps to keep its program costs as low as possible and provides excellent programming to the youth in the community. Donations are used in various ways through operations, facility upgrades and scholarship funds. “Thank you for the continued support of the Page Youth Center and our Mission to Build Character Through Youth Sports,” said Aaron Martinez, executive director of Page Youth Center. “Your generosity is greatly appreciated and assists us in offering the best programs we can for our community’s youth!” Blenders Basketball League With 1,000 youth participating this season and over 250 volunteers, the Page Youth Center prides itself on the Blenders Basketball League program. Volunteers help with coaching, scorekeeping and team parents. Over...

Yardi Dubai supports the Al Noor Training Centre for Persons with Disabilities as part of the company’s global program of philanthropic support for nonprofits and NGOs. Established in 1981, Al Noor provides special education, care and services to those with neurodivergent challenges such as Down Syndrome, Autism, Cerebral Palsy or a combination of conditions. Among its successes, Al Noor has prepared up to 100 students for work placement in the community. Al Noor staff have developed a curriculum for students that significantly impacts lives and helps them be independent members of the community. Al Noor plans to establish additional training and services that will enhance and develop the lives of its students. “We wish to work closely with corporations like Yardi .. to partner with us on our various projects,” said Apple Castaneda, senior sustainability and community relations executive for Al Noor.   Al Noor charges subsidized fees to parents or, in some cases, the total tuition fees for parents who cannot afford to pay the fees. They have a no-rejection policy. “We do a holistic approach to giving our students the maximum quality of training and education to maximize their potential,” said Castaneda. Funding from Yardi helps Al Noor obtain resources through financial support, ensuring the organization can maximize potential care to students. Yardi has consistently provided sustainable financial contributions to the center, enabling the organization to expand its educational programs for children with determination. This has enhanced individuals’ learning experience and skill development under Al Noor’s care. “The Centre is very thankful for the continued support of Yardi, as it is helping us fulfill our mission of giving an equal opportunity to our students of determination and being out there in the community,” shared Castaneda. #TeamYardi and Celebrating World Cerebral Palsy Day Yardi employees...

Slowed demand for self storage continues to drive street rates lower, reports the new Self Storage National Report from Yardi Matrix. Annual street rate growth stayed negative in October. The average annualized same-store asking rate per square foot for the main unit types and sizes averaged $16.77 nationally last month, marking a 4.2 percent drop from the average recorded in October 2022. Street rates also remained negative on an annual basis in October in nearly all of the top metros. Combined same-store rates for non-climate-controlled units fell in all but one of the markets tracked by Matrix year over year, while asking rates for same-store climate-controlled units decreased in all of the top metros. “Elevated residential mortgage rates have slowed home sales, reducing population mobility, a major driver of storage demand. As a result, storage operators continue to lower asking rates to drive new rental demand,” states the report. In-place storage rents continue to trend upwards, supported by existing customer demand, helping bolster rental income for operators. In addition, the labor market remains relatively strong and inflation is slowing, which will benefit the sector as it helps boost the financial confidence of new and existing customers. Nationally, Yardi Matrix tracks a total of 5,006 self storage properties in various stages of development, including 864 under construction, 1,940 planned, 673 prospective, 1,457 abandoned and 72 deferred properties. Yardi Matrix also maintains operational profiles for 29,234 completed self storage facilities in the U.S., bringing the total data set to 34,240. Gain more insight on self storage performance. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, vacant land, industrial, office, retail and self storage...

Today’s featured nonprofit is Operation Kindness, from Carrollton, Texas, founded in 1976. Operation Kindness is an animal welfare organization making the world a kinder place for animals and people who love them. This September, Operation Kindness expanded and opened the Lifesaving Partnerships Hub. Funding from Yardi fund Operation Kindness’s mission to serve animals in Texas and where the help is needed most. “Operation Kindness is so happy to have support from partners like Yardi. Your support makes our work possible,” said Lilly Watson, marketing manager of brand and communications for Operation Kindness. Thriving Pups Last summer, Operation Kindness took ten dogs surrendered to the Human Society of the United States in an animal cruelty case. All dogs were highly malnourished, gravely underweight and suffering from life-threatening heartworm disease. A year later, after the help and care of Operation Kindness, their staff and volunteers, these dogs are thriving, happy and healthy with their new owners. Read about Jazz, Jay and Bruce and their stories and testimonies from their owners.  Yardi Dallas and Irving Office Gathering #TeamYardi of the Dallas and Irving offices gathered recently for a puppy and kitten-loving fun-filled day. Unfortunately, the weather didn’t cooperate, but that didn’t stop them. The office made a slight adjustment and hosted the fur babies inside. Each kitten and puppy were given much love and attention that day. A few employees are now in the adoption application process, hoping to have a new friend for the holiday season. To spread some joy this holiday season, consider donations to Operation Kindness. You can make a tax-deductible gift online here. Find future non-profit profiles...

From Nov. 1-3, NMHC OPTECH brought together the brightest minds and the latest innovations in the multifamily industry. Las Vegas was the hub of important conversations surrounding the present and future of real estate technology. Here’s a quick recap of the event, including more information about the new AI-driven, human-centered solutions we recently announced.  Meet your maestro, Yardi Virtuoso Whether you went in person or were staying updated from the sidelines, one innovation stood out amidst the bustle of the conference: Yardi Virtuoso. By weaving artificial intelligence across the Yardi platform, you’re not just streamlining your processes — you’re transforming workflows. Virtuoso is your gateway to a more efficient future. It offers an AI-powered agent that seamlessly integrates with Yardi solutions, revolutionizing your workflow through the power of generative AI. This new tech also leverages machine learning, natural language processing and more powerful capabilities to help solve problems in your day-to-day and drive your business forward: Tap into the power of an AI-powered assistant to do more with less – effortlessly track tasks, generate reports and more with a simple voice command Significantly reduce invoice processing time and cost Improve prospect and resident communications with a bot that can chat, text, email and call It’s the future of AI in real estate. Virtuoso doesn’t just analyze, it harmonizes — bringing together disparate, manual parts of your workflow and creating an AI-powered, human-centered symphony. Stay updated. A medley of insights Yardi leaders contributed to pivotal discussions at the event, delivering insights on technology’s evolving role within the industry through the following sessions: Yardi Vice President Michael Tuer participated in the “Multifamily Technology Spending and Staffing” panel, offering insights on necessary adjustments the industry must make to navigate an increasingly tech-centric future. In “Operationalizing Resident Fee...

The PHA industry is special. There’s a level of caring and personal commitment to helping others that rises a notch in comparison with other real estate verticals. Exhibit A: Grant Burnham. Grant joined Yardi a few years ago. He not only brought with him decades’ of PHA and affordable housing finance experience but also a positive attitude and a genuine appreciation for the work PHAs do for their communities Let’s find out more about Grant, Yardi’s PHA clients and the company’s solutions. Grant, where do you call home? GB: Hello! I am a Colorado native, and my home base is Yardi’s Denver office. What hobbies do you enjoy in your free time? GB: I am an avid pool player. I have been playing in leagues for almost 15 years and even got to participate in team world championship tournaments three separate times in Las Vegas. I’m always up for a game or two (or more) whenever I get a chance! How long have you been with Yardi? What is your current position? GB: I’ve been with Yardi since February 2020. My role is a team leader and solutions consultant. That means I work with a great group of sales professionals dedicated to helping housing agencies solve challenges and serve their residents, landlords and participants with innovative Yardi technology. How did you get started in the PHA/affordable housing industry? GB: My journey in the housing industry began in 2008 when I joined a local PHA in the Denver area. I was there for about three years before I accepted a position with the Colorado Housing and Finance Agency in 2011. I remained with CHFA until 2020 when I began working at Yardi. Throughout my career, my roles in the housing industry have included Occupancy Specialist,...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2022, Yardi offices supported more than 350 nonprofits worldwide. We hope you enjoy the stories of those organizations and insight into how they aid their communities. Food banks differ from food pantries, soup kitchens or emergency shelters because they supply the food to these organizations and then distribute it directly to those in need. Care and Share Food Bank for Southern Colorado was founded in 1978 in Colorado Springs. Care and Share provides food to 291 partner pantries, shelters and schools throughout Southern Colorado, allowing these partners to stretch their dollars for their best work, such as job training, housing assistance, medical care and other critical services. Over 23 million pounds of food was provided to the community seeking support in the past year. Care and Share is an affiliate of Feeding America, the largest domestic hunger relief organization. Despite five other Feeding America food banks in Colorado, Care and Share is the only food bank dedicated to serving the state’s southern half. During the height of the pandemic, the generosity of the southern Colorado community bolstered Care and Share to serve those needing food assistance for the first time. “Care and Share is now dealing with the after-effects of the pandemic and is seeing even more need than we saw during the pandemic,” said Joan Selman, director of major gifts at Care and Share. The following areas are the most significant causes of increased need: Economic Conditions: Though inflation numbers have decreased, food prices are still at an all-time high. This affects low-income households whose food costs typically compromise a third of their income....

Multifamily construction starts increased slightly in Q3 2023, and should have a positive impact on future deliveries, states the latest Multifamily Supply Forecast from Yardi Matrix.  Construction starts remained relatively robust in the first half of 2023, and the under-construction pipeline increased 7.6 percent in the third quarter. As a result, the Q4 2023 supply forecast update has increased forecast completions 5.8 percent for 2024 and 6.2 percent for 2025. For multifamily markets tracked by Yardi Matrix, there are currently 1,223,601 units in the under-construction pipeline. Of these units, 479,634 are currently in lease-up, roughly in line with the trailing six-month average of 483,000 units but some 15.9 percent above year-ago levels. Most of these units will be completed this year or in the first half of 2024. Multifamily construction starts held at a relatively high level through the first half of 2023. As a result, the number of under-construction units not in lease-up continues to increase. Currently there are 743,967 units, a 16.2 percent quarterly increase and a 35.3 percent increase over year-ago levels. These units will most likely be completed in 2024 or 2025. Find more insights on forthcoming multifamily supply from Yardi Matrix. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2022, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will bring you the stories of those organizations and insight into how they aid their communities. New Beginnings is a nonprofit founded in Santa Barbara in 2000, continuing the work of the Santa Barbara Counseling Center. This organization provides psychological counseling and housing assistance services to people experiencing homelessness, as well as low-income individuals and families throughout Santa Barbara County. New Beginnings serves over 2000 people each year with various programs and centers: Counseling Center The Safe Parking Shelter and Rapid Rehousing Program The Supportive Services for Veterans Families Program The Life Skills Parenting and Education Program. “In the spring of this year, we underwent a major transition and moved into a fabulous new space. The new space has allowed for all four programs to be housed under one roof, improving the client experience by streamlining inter-agency collaboration and strengthening our wraparound services,” said Shana Hill, community engagement and programs specialist for New Beginnings.   New Beginnings plans to expand telehealth services with improved marketing and outreach efforts. They are working to expand the Safe Parking Program throughout the county and increase the number of lots in Santa Barbara, Goleta, Carpinteria and Lompoc. In addition, they are working on publishing a second edition of the Safe Parking Program manual to take steps toward establishing the Safe Parking Program model as an evidence-based practice. It will also work to expand the number of community partners for the Life Skills Parenting and Education program and increase community involvement for houses for...

Yardi’s global offices make essential contributions to property management and investors worldwide. Today, meet Sy Pham, associate technical manager on the Voyager Client success team out of the Santa Ana office. Meet Sy Pham Sy Pham just marked his first anniversary at Yardi in August. He has a passion for problem-solving and working with clients, so he’s greatly enjoyed this role. Pham wanted to work for a company where he could tackle complex problems but work with clients using Yardi’s products so he could see the impact he was making. “The last year with Yardi has been everything I’ve been looking for in a company,” says Pham. Pham spends his hours on client calls and training. When not on calls, he is researching questions that came up or preparing for the next call. He also regularly meets with his team to strategize on problems or do team-building exercises, making his experience at Yardi remarkable. Problem-solving Skills Working with commercial clients has been a challenge for Pham yet rewarding. He enjoys the people at Yardi, both internally and client-facing. He finds Yardi as a workplace that challenges him with tough problems, but the people he has met along the way make it all worth it. “I have never experienced a work culture so dedicated to helping clients and each other. It’s been fun collaborating with individuals from different teams and being able to solve problems together. I love how I can introduce myself to anyone and ask if they can lend a second opinion on a difficult case. The overwhelming support I always receive is inspiring. I hope one day I can lend a hand to the new folks that join like others has done for me,” said Pham. In his personal and work life,...

When you lack efficient leasing tools, turning senior living prospects into residents can be challenging. But how do you identify the best tools? Which solutions are built to last? Paper-based processes aren’t optimal due to the risk of manual errors and lost documents. Not to mention, they can be costly. Electronic leasing tools are much more efficient, especially when you opt for a fully integrated solution likes ours. With tools across the Yardi Senior Living Suite connecting on a single platform, you’re set to simplify move-in workflows, reduce expenses and make the prospect-to-resident journey seamless. To show you just how valuable electronic leasing tools are, we have a helpful cost analysis checklist in store. Learn more and get a glimpse at what the checklist offers below. What is electronic leasing? As part of an overall set of leasing tools, electronic leases are a digital version of the rental contract you already know. They replace paper leases and ancillary forms with secure, digitally stored files. But keep in mind that with the Yardi Senior Living Suite, you access more than just digital documents. We offer integrated electronic leasing tools that streamline every step of the move-in process. In short, you can easily generate custom leases in RentCafe Senior CRM, mark them for electronic signatures in RentCafe Senior Living Portal and automatically store completed documents in Voyager Senior Housing. Without electronic leases and an integrated workflow, on the other hand, you face: Perpetual operational costs Hours spent generating leases and ancillary documents Lost prospects who wish to sign forms remotely A halted sales cycle and decreased move-ins And more How to compare costs with our checklist Now that you know more about electronic leasing, we invite you to review our cost analysis checklist! It’s an intuitive...

#TeamYardi had a wicked good time celebrating Fall and spooky season this year. The Atlanta office festivities started with a costume contest. The winners of the contest were as follows: Best: Static Shock costume, Amber Brown Funniest: Burger costume, Jonathan Singleton Scariest: Dr. Facilier costume, Gerald Valentine Most Creative: Frida Kahlo costume, RheaAnn Koppelman Best Group: Mario Party costume, Ciro Vellino, Tyler Edwards and Spencer Hardiman Those who participated brought some fun to the office and turned a typical Wednesday into an enchanted Wednesday. For lunch, three food trucks were provided with various foods for the office—Yaardie Eats, The Mad Greek and The Loaded Taco. Games were provided, and even a special guest was in attendance after making his rounds at the Atlanta HBCU scholarship programs Yardi supports. Jay Shobe, senior vice president, was impressed with Georgia’s southern hospitality. At headquarters in Santa Barbara, the office had a Fall Fest for Yardi employees and their families. The afternoon consisted of a pumpkin carving contest with pizza and gelato. The kids got dressed up and enjoyed a corn maze with trick or treating. What fun office collaborations for the end of...