Second Helpings Atlanta Jun24

Second Helpings Atlanta

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we bring you the story of Second Helpings Atlanta, a nonprofit that reduces food insecurity and food waste in Metro Atlanta by rescuing fresh, surplus food and delivering it to nonprofit partners, who then distribute it to their clients. According to Second Helpings, one out of every nine people in Atlanta, including one out of every seven children, does not have certainty about food access, yet one-third of available food is wasted every day. “We work to remedy this by getting the surplus to where it is needed. Our Food Rescue Network includes over 75 food donors, over 70 partner agencies, and over 300 volunteers,” says Andrea Jaron, executive director of the organization. “We rescued more than 3.6 million pounds of food from landfills in 2021, the equivalent of over three million meals. This was an 89 percent increase over 2020!” Jaron continues: “We can rescue 5 pounds of food for every donated dollar we receive. This is the equivalent of almost 4 meals. Yardi’s support will enable us to grow our network. We have the knowledge, expertise, and resources, and your financial support is critical to helping us rescue surplus food and deliver it to our neighbors who are in need.” Funds will help the organization meet its goals this year. “Our priorities this year are to bring food to areas in need that we are currently not serving,” said Jaron. “This will require us to recruit more volunteers, food donors, and partner agencies. This is a high priority given the rate of inflation and the already existing stresses on families because of the pandemic.”  How surplus food helps Among the partner agencies that distribute food collected by Second Helpings are local food banks. Here’s what one staff member there said about a recent donation which is pictured at right): “Just wanted you all to see how beautiful, bountiful and abundant the market looks today! Thanks to Second Helpings! It is a thing of beauty! Thank you all so much! If you told me six months ago the sight of fruit and vegetables would make me cry I would have thought you crazy! So grateful!” Another partner commented: “Thank you so much for your continued support for our youth and families in the communities we serve. You have been the strongest partner with our food distribution throughout the pandemic, before and after. You have allowed CHRIS 180 to provide needed meals to many who would not have had food to eat day to day, week to week. You and Second Helpings have been the guardian angels for so many across Atlanta. The greatest benefit for CHRIS 180 is that by providing the meals you donate; we can do wellness checks on the community to meet additional needs of them and their families. So again, thank you so much for always considering CHRIS 180 as a partner. We look forward to continuing this strong relationship between our organizations, delivering service to our communities.” Ways for Yardi Atlanta employees to help Yardi employees can become food rescue drivers for Second Helpings by going to the nonprofit’s website and clicking the volunteer button. There is a brief orientation, and then you will be matched to a route that is convenient or you can sign up for routes at a later date. Second Helpings also has a group volunteer activity at our warehouse at 970 Jefferson Street on the historic Westside. “We gather every Wednesday to pack 2000 meal kits. HelloFresh, the meal kit company, donates all of the ingredients, we...

5 Questions

Are you ready to drive results that matter? Property marketing spend can significantly impact NOI — in a positive way — but only if you know what questions to ask your marketing team. It used to be hard to see and understand property marketing results. Marketers had a hard enough time tracking which leads came from where, let alone which sources brought in leases. ILS and lead journey data was incomplete, and it could be hard to tell which budget items resulted in returns. If you were outside of marketing, perhaps working in operations or another adjacent department, understanding marketing spend could be even trickier. Fortunately, with better technology comes better data. Today, it’s easy to see exactly where a lead first became aware of your brand and at what point they converted. It’s also easy to see how much you’re spending per lead and lease. In fact, you can calculate how much you’re getting back for every $1 of advertising budget spent (keep reading to find out how). When you’re looking to guide your marketing team and help drive results that matter, here are five questions you should ask. 1. What is our current marketing mix, and is there data to support it? Marketers should know how the marketing budget is organized and why. Your corporate and regional marketing strategy should be based on historical conversion data and — if including a new technique or source — industry research and case study data. Marketing sources should include a balance of traditional ILS advertising and director-to-renter marketing. ILS marketing is critical for the awareness phase of the renter journey, but it doesn’t also get you the most qualified leads. Director-to-renter marketing, such as SEO and PPC advertising, sends renters directly to your websites where...

Transforming Lives Jun22

Transforming Lives

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we’re speaking with Center for Transforming Lives in Fort Worth, Texas. Center for Transforming Lives (CTL) works side-by-side with women and their children to disrupt the cycle of poverty by providing comprehensive housing services, early childhood education, economic mobility services, and clinical counseling, addressing their most critical needs. Each year, CTL works with over 3,000 people in Tarrant County to provide comprehensive services that support their journey from poverty to prosperity. CTL’s services are trauma-informed, two-generational, and incorporate best practices rooted in nationally backed research to ensure women and children achieve long-term success. In 2021, in partnership with The Center for Children’s Health led by Cook Childrens’ and other generous donors, CTL conducted surveys with families living in motels or extended stay properties throughout Tarrant County. Seventy families were surveyed on-site at motel locations. The findings of the survey included: One-third of families surveyed had been living in a motel for more than 6 monthsSingle-parent women represented the majority of families surveyed67% of families were paying rent on a weekly basis and 17 percent were paying one night at a time “In order to fully address the issue of homelessness in Tarrant County, our systems must look at the needs of these families living in motels when allocating funds and developing programs. At CTL, our comprehensive programs are trauma-informed, two generational, and incorporate best practices rooted in nationally backed research to...

Apartmentalize 2022 Jun21

Apartmentalize 2022

Apartmentalize, powered by NAA, is back! Starting June 22, multifamily leaders from around the nation will gather at the San Diego Convention Center. See the latest innovations and take part in conversations that will shape the future of multifamily. Find out where success happens at booth 815. We’re excited to share how our solutions are solving for industry trends at every stage of the resident lifecycle. Trusted solutions that fit your workflow We’re here to help you attract quality prospects, convert leads into leases, manage the resident experience and optimize your business. Here’s a preview of just some of what we can help you with:  Attract quality prospects with expert help Ready to attract more prospects that convert? Learn how to grow awareness, traffic and marketing ROI with help from REACH by RentCafe, a dedicated digital marketing agency for multifamily.Schedule a free consultation with our REACH by RentCafe experts during the show. In just 15 minutes, you’ll learn how to create a winning web presence, stand out in search and lower your cost per lease. Convert prospects with automated communication, nurturing & fraud prevention Your customer is more than just a renter. Create a seamless prospect-to-resident experience and assist your staff with these customer-centric solutions: Chat IQ is an automated attendant that responds to chat, text, email and voice. This solution saves our clients time and money, all while delivering superior customer experience 24/7. Yardi’s CRM is your site staff’s ultimate partner. It has online and in-person functionalities that engage with your prospects and residents, supporting your staff through the entire leasing lifecycle. ID Verifyand Income Verificationare mobile-friendly solutions that use AI and automation to quickly authenticate applicant identities and income. No more back-and-forth emails to manually verify applicants – just fast, simple, online leasing. Book a meeting at booth 815 to see these solutions in action! Manage residents with an industry-leading system In multifamily real estate, delivering the right customer experience means retaining residents and keeping them in the family. Make it easier for residents to stay by enabling them to pay rent online, renew their lease, submit a work order and more from a branded resident mobile app. Then, level up with Maintenance IQ, which reduces days from your unit-turn process – making every property hum with efficiency. Stop by booth 815 to see how Yardi software continues to put your customers first. Optimize asset performance with an elevated solution One of the smartest systems in the industry just got smarter. Yardi’s Elevate Suite, including Asset IQ, Revenue IQ and Forecast IQ, helps you optimize NOI and asset value with predictive analytics backed by data and benchmarking. Make more informed decisions with a 360-degree view into your business. Expense and revenue benchmarking allow you to understand the full performance picture, placing you at an advantage to optimize occupancy and increase asset value. That’s just the start. Reserve a private demo at booth 815 to see our solutions work. See more, do more, learn more Make the most of your time at Apartmentalize with sessions that will inspire you to take action. Yardi leaders will be there to share industry insights and more. Here’s a peek: Youth & Wisdom: Pairing Experienced Marketers with Fresh Perspectives – June 22, 12:30-1:30 p.m. What can seasoned marketers learn from new employees? A lot! Hear from KETTLER and The Management Group, two industry-leading brands that create marketing magic by combining proven strategy with innovative insights. Learn how to encourage mentorship and collaboration to drive measurable results. Hosted by Esther Bonardi, vice president of marketing at Yardi and REACH by RentCafe. Imploding Myths on Technology Advancement with Affordable Housing – June 23, 3-3:45 p.m. Explore potential affordable housing solutions and learn about the latest tech to advance your industry knowledge. Join Chris Voss, vice president at Yardi, in a conversation designed to address misunderstandings about barriers unique to affordable housing, including the recertification...

Storage Steps Up Jun21

Storage Steps Up

Self storage continues to see rents tick up month after month, despite growing economic turmoil, according to the latest National Self Storage Report from Yardi® Matrix. Overall street rates rose $1 last month to $147, with 10X10 climate controlled units averaging $149 and 10X10 non-climate controlled units at $131. “Storage demand remains extremely resilient, enabling operators to push both street rates and renewal rates while maintaining occupancy,” say Matrix analysts. The demand drivers for self storage are many, but current trends include the need for work-from-home space, retail spending on furnishings and consumer goods, migration and rising cost of housing. “Some households may choose to save money by living in a smaller apartment while renting a storage unit on the side. Inflation is a growing concern as it squeezes consumers’ budgets, but some operators say it also braces them to expect rent increases,” notes the report. Even as street rates hit record highs and demand remains strong, year-over-year growth is moderating as anticipated. The total average annual street rate growth fell 150 basis points to 3.5 percent in May, a continued deceleration from the standout gains of 2021. However, growth remains healthy relative to the long-term average. Yardi Matrix tracks a total of 4,066 self storage properties nationwide in various stages of development — including 1,481 planned, 750 under construction and 522 prospective properties. Matrix also maintains operational profiles for 28,390 completed self storage facilities across the United States, bringing the total data set to 32,456. Learn more about the state of the self storage market...

Changemakers Series

It’s time to introduce the next round of 2022 Changemakers — senior living leaders who are spearheading innovation across the industry. This Yardi-sponsored series, in collaboration with Senior Housing News (SHN), features in-depth interviews with leaders to capture their stories, strategies and advice.   If you’re interested to read about the Changemakers series in its entirety, visit the SHN website. There you’ll gain access to individual interviews, including that of the Changemaker we’re highlighting today: Amy Schectman, president and CEO of 2Life Communities. About Amy Schectman    In leading 2Life Communities for over a decade, Amy Schectman has developed a knack for strategy development. From creating a quasi-endowment to support agency innovation to launching an expansion campaign to fill the gaps in senior housing, Schectman has driven positive change throughout her journey as 2Life Communities president and CEO. In her SHN interview, Schectman covers her focus on powerful diversity, equity and inclusion at 2Life — and that’s only the tip of the iceberg. Read the snapshot below then explore Schectman’s full interview for more. SHN: Thinking back on your career in senior living, what are some of the changes you’re especially proud of leading? Schectman: I am very proud of elevating the profile of affordable, subsidized senior housing to make it more than just a place people have to live. I think we’ve created some incredibly dynamic and supportive environments shaped by what we call “resident-centric property management.” We articulated that, made it our benchmark and figured out how to turn it into a sustainable model. It’s about cherishing and nurturing our folks in the long run. We work hard to prevent unnecessary ER visits and nursing home placements, and we’ve pushed the envelope of integrating housing and health care to maximize the chances of living a great life with us. The whole articulation of aging in community as a model and mapping out the eligibility for affordable housing put us on a path to fill the market gaps that other communities can’t meet. One of those market gaps is the middle market, and the other is people in tax credit housing who don’t have vouchers. Many older adults who earn between 40% and 60% of Area Median Income qualify for affordable housing but not affordable services. We’re working with our case management program to figure out how to serve that group as well. SHN: Do you see yourself as a Changemaker? And are you always excited to drive change, even with the risk involved? Schectman: Yes, I do. I’ve been at 2Life for eleven and a half years. During that time, I absolutely focused on driving change. Before that, I ran public housing and rental assistance for the state [of Massachusetts]. Public housing is two-thirds older adults, but it’s not quite the senior living industry. As I look at my career, the one pattern I can point to is making change and moving agendas along. Today, we’re making changes to expand our reach. We’ve built a stable organization that we’re trying to take to the next level. Understanding change and opportunities, then executing a strategy to realize them has been a consistent part of what I do. SHN: What changes do you believe need to be made in senior living in the next 3-5 years? Schectman: As the baby boomers continue to account for more of the aging population, they bring their value set with them. They don’t want a cruise or a hotel experience, but to continue the pursuit of social justice, positive change and community. I think we’re a different generation. What appeals to my parents’ generation does not necessarily appeal to my generation. We used to hear, “I don’t want to cook. I don’t want to clean. I don’t want to do those things. I want to relax and play cards.” I don’t think our generation wants to be catered to in that way. Our...

kidSTREAM Children’s Museum Jun17

kidSTREAM Children’s Museum

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, let’s get to know kidSTREAM, a children’s museum under development in Camarillo, Calif. “We educate and inspire children allowing them to explore, play, and discover,” says Michael Shanklin, executive director, of the kidSTREAM mission. The organization has been working to open the museum since 2016 and hopes to do so by next year. “With the funds provided by the Yardi team, kidSTREAM has expanded our community access in significant ways. The investment by Yardi allowed us to develop STREAM Learning Kits in Spanish and English,” Shanklin said. “Our most recent kit which highlighted electrical circuits, motors, maker activities, and art were assembled by a group of community volunteers then distributed to farm working families in Oxnard.” The kits were also distributed to children involved in Ventura County Family Justice proceedings. “In addition to having the directions in Spanish and English, kidSTREAM filmed children volunteers who explained how to do each step in both Spanish and English by using a QR Code on the instructions. All kits were provided to the children at no cost to the family thanks to Yardi!,” Shanklin said. Meanwhile, work to open the museum continues. kidSTREAM is working to secure the museum building from the city of Camarillo, design exhibits hire staff and raise funds. “Our 2020-2023 Strategic Plan has five prioritized initiatives: 1. Open the Museum, 2. Be financially sustainable, 3. Establish community partnerships, 4. Create excellent programs and exhibits, and finally, 5. Become a community leader,” outlined Shanklin.  He singled out the support of Yardi and a longtime Yardi employee who has joined the kidSTREAM board. “We are humbled by the Yardi team’s generosity which has allowed us to provide meaningful STREAM kits so that ALL children can explore, play, and discover!  We are also thankful for our Yardi Board member, Wendy Acevedo-Solis, who has been instrumental in connecting us with local farmworker families,” Shanklin said. Volunteer opportunities in Southern California Yardi team members in SoCal, kidSTREAM needs help to assemble STREAM kits and distribute them to local families working in Ventura County agriculture.  Yardi teammates can connect with Michael Shanklin ([email protected] or 661-289-1369 cell) to arrange a time to help us help the community.   Learn more about kidSTREAM at https://kidstream.org/, and find future non-profit profiles at...

Studying Seniors

We’re seeing more tech-savvy seniors today than ever before. From using technology to pay bills to connecting with others on social media, seniors are becoming increasingly invested in the digital world. That’s verified by a recent study exploring seniors’ use of TikTok, the well-known social media platform often associated with younger users. But this study didn’t simply look at how much seniors use TikTok. Researchers sought to analyze how seniors are using social media — TikTok in particular — to engage in discourses on aging. In other words, how seniors are using the platform to defy ageist stereotypes. Covered by McKnight’s Senior Living, the study is packed with interesting findings. If you’re as curious as we were about the tech-focused path seniors are paving, read on.   New study: Seniors reframe stereotypes via TikTok In researching seniors behavior on TikTok, several most-viewed videos from users aged 60 or older — and who have at least 100,000 followers — were compiled. The study in reference, “Not Too Old for TikTok: How Older Adults are Reframing Aging” was published by researchers from Yale University and the National University of Singapore. From the videos analyzed, which totaled at 1,382, a few prominent themes emerged. Here’s a snapshot of what researchers found: 71% of the videos featured older adults defying age-related stereotypes18% featured older adults making light of age-related vulnerabilities11% involved older adults calling out ageism Building off the tech-savvy seniors theme, the study references a Pew Research Center analysis that highlights just how digitally focused older adults have become. The analysis shows: 73% of adults aged 65 or more years used the internet in 2019Smartphone adoption today is 81% among adults aged 60 to 69 and 62% among those aged 70 or more yearsSmartphone ownership went from...

Step Denver Jun15

Step Denver

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we introduce you to Step Denver, a Colorado nonprofit with a mission to give men with nowhere else to turn the opportunity to overcome addiction through sobriety, work, accountability, and community. “Like most cities across the United States, homelessness has reached a critical point in Denver. 75 percent of people living on the streets are men and the majority struggle with addiction. Doing our part to address this dire need, Step Denver provides same day admission with no cost to enter, to any man ready and willing to seek help,” explains Meghan Shay, Director of Fund Development & Marketing for Step Denver. Through a comprehensive long-term residential program, Step Denver participants establish a strong foundation in recovery and work to rebuild every facet of their lives including employment, financial stability, family, and health among others. Step Denver’s unique peer recovery model is led by a staff of Step Alumni, who have returned to help the hundreds of men following in their footsteps each year. “Above everything, our goal is to help men end their cycle of addiction, take back control of their lives, and transition to a safe and sober living environment where they can become productive, contributing members of their families and community,” says Shay. “Support from Yardi funds the key Step Denver components that change (and save) lives, ultimately helping to effect a behavioral change in the men served....

Pandemic Impact Jun14

Pandemic Impact

The unprecedented socioeconomic events of the last two years and subsequent impact on multifamily rents is examined by a new bulletin from Yardi® Matrix now available for download. The publication breaks down the traditional drivers of multifamily rent growth—economic measures such as employment and population growth, and property fundamentals such as supply and changes in occupancy—and details how each impacted the highs and lows rents exhibited from March 2020 to April 2022. The analysis is broken into two periods: the four quarters following the start of the pandemic (2Q20 to 1Q21) and the four quarters of the recovery and rent surge (2Q21 to 1Q22). “Drivers of rent growth have changed not only once, but twice, in the two years post-pandemic. Each time was distinctly different,” states report author Paul Fiorilla, director of research for Yardi Matrix. “The period from April 2020 through March 2021 was marked by massive job loss, sheltering from home and migration from gateway markets to the Sun Belt. The April 2021 to March 2022 period was characterized by a booming pent-up demand and massive recovery across the entire country.” If you’ve been following the apartment industry closely, the general narrative of the pandemic is clear: motivated by remote work options and changes in life circumstances, many renters abandoned high-cost urban gateway markets in favor of more affordable cities with more room to breathe. Major cities like San Francisco, Chicago and New York saw rents drop dramatically and vacancy rates increase. After vaccine availability brought stabilization of the public health situation and widespread economic recovery ensued in 2021, return to gateway markets began and rents across nearly all markets were driven up by new household formation, low vacancy rates and easily obtainable employment. “Pent-up demand, strong consumer balance sheets, migration to...

Rock-Solid Learning

The value of learning management systems as a catalyst for organizational improvement was the topic of a recent webinar hosted by Patty Evans, industry principal for Yardi Aspire, and featuring employees of the Boulder (Colo.) Housing Authority. Learning management systems can promote stability among an increasingly restive employee population. Evans noted that more than 47 million Americans voluntarily left their jobs last year. A recent study of U.S. workers by Cengage Group showed that 64% of survey respondents identified training as integral to their role, while 78% of employees who quit in the preceding six months took an online course to prepare for their next job. An Amazon-Gallup study found that 47% of employees are “extremely interested” in training that upgrades their skills and advances their careers. “It’s clear that if employers do not provide adequate training, employees will find ways to develop the needed skills and that may mean getting a job elsewhere.,” Evans said. “Employers need to have a new mantra: If we want to retain our staff, we have to focus on skills development.” These factors have prompted BHA and other agencies to adopt Aspire, an online learning management system that automates the delivery of personalized learning experiences to half a million users worldwide. Along with live event management, Aspire includes about 1,300 courses on Yardi software, HR topics, compliance and safety, professional skills development and more. Its content is routinely upgraded to reflect changes to Yardi software, industry standards, and federal and state legislation. Learners seeking to refine specific skills can use the site-wide search tool or interactive catalog to locate and sign up for training on more than 200 industry skills and review recommended training options for their current or desired role. Boon to virtual onboarding Along with offering workers immediate skills practice and real-world applications, Aspire also benefits BHA and other organizations as a virtual onboarding tool that automatically assigns relevant training and resources for success to new employees as they begin new roles. The system also automatically recalibrates training assignments as employees transfer to new roles or locations throughout their career. “We can customize the Aspire content with unique company messages such as BHA’s values and mission. This helps make a great first impression of the organization with new employees,” said Carrie Murphy, BHA’s learning management system manager. “You’ll be surprised how much you can do with Aspire’s proprietary authoring and communication tools to make your staff feel not just welcome but connected to your organization. With a little imagination, your employees can dive in and immediately interact with your organization through Aspire,” Evans added. Benefits of automation and personalized learning The webinar revealed that employee engagement and efficiency offered by Aspire holds increasing relevance in today’s work environment. “Since the start of the pandemic online learning has seen a massive increase in participation and continues to grow. Companies benefit when employees feel confident and employees thrive when they’re given opportunities to learn new skills, receive feedback on their training performance and participate in a learning community,” Evans said. Aspire helps BHA’s training administrators by automating time-consuming, repetitive processes, from training announcements, registration management and training and skills assessments to feedback collection and recommended next steps. It also delivers new organizational efficiency and direct cost savings with self-paced content that is automatically developed and maintained by Yardi and industry experts. Trainers can spend less time developing and delivering introductory information and beginning skills and focus more time training advanced topics and imparting institutional knowledge. “Automated training management saves us a lot of time,” Murphy said. Rosemary Mendenhall, a community manager for BHA, offered the user’s perspective. “I love that I can personalize my learning with Aspire. I can pick the classes that I want, with my managers assigning me additional classes that tie in with my job and experience,” she said, noting that the variety of training methods – including highly interactive content,...

YASC Returns Live! Jun13

YASC Returns Live!

Yardi is excited to welcome clients back in-person to the Yardi Advanced Solutions Conference (YASC) this summer, marking a return to real time after successful interactive virtual events over the last two years. YASC, set for Aug. 31–Sept. 2 in San Diego, combines classroom learning with social activities in a beautiful seaside setting. The event will feature more than 280 unique classes presented in 300-plus sessions, with some classes offered multiple times. The classes and dozens of product experts will give thousands of real estate professionals in attendance insight into Yardi software solutions that improve efficiency in marketing, leasing, acquisition, energy management, investing and other operations. Yardi experts will provide personalized consultations and panel sessions will examine key industry trends. Exclusive live outdoor entertainment and fun social activities comprise other elements of a memorable experience at the Manchester Grand Hyatt San Diego, the new host resort on San Diego’s waterfront. You don’t want to miss it! During the pandemic, YASC was held as successful interactive virtual events in May and October 2020, May 2021 and March 2022. The events drew tens of thousands of attendees from more than 60 countries. Virtual YASC events will continue on an annual basis, with dates for 2023 to be announced soon. “We’re proud that our clients continued to gain value from virtual gatherings but there’s nothing like meeting face-to-face with colleagues. Our software is designed to connect people and communities, and we look forward to continuing that effort in San Diego,” said Kevin Yardi, the company’s vice president of global solutions. Social media hashtag for the event will be #YASC2022. Be sure to download the conference app for fun games, interactive features and the full course schedule. Ready to join a conference that will provide immediate takeaways? Sign up to attend YASC San Diego and see what’s planned for regional in-person YASCs around the world in...

Real Estate Roadblocks Jun12

Real Estate Roadblocks

Three things are holding back the world’s commercial real estate sector, says Kylie Davis, president of Proptech Association Australia. “Our commitment to Excel spreadsheets and filing cabinets and whiteboards,” are roadblocks to a real estate revolution. And this “very inefficient and expensive” commitment is holding real estate companies back from squeezing more value from assets and creating better experiences for customers. Davis, a serial entrepreneur and futurist who advises several proptech start-ups, recently sat down with Bernie Devine, Yardi senior regional director of APAC, for a chat. Property technology – or proptech for short – has been growing at a “phenomenal” pace over the last two years, Kylie said. Proptech Association Australia has identified 18 separate transactions worth at least AUD$274 million since late 2019 alone, as some of the nation’s largest landlords and most influential media companies accelerate their investment in technology. Proptech may attract the headlines, but scratch below the surface and “really it’s about getting the industry to change,” Devine added. Real estate is certainly resistant to change. Nearly half of Australian real estate companies still use spreadsheets for valuation reporting, budgeting and projections and 52 percent depend on spreadsheets to undertake benchmarking and performance analysis, according to the latest Yardi/Property Council of Australia Proptech Survey. Why is an industry committed to efficiency and asset optimisation holding on, so stubbornly, to spreadsheets? Change can be “painful and scary,” Davis observed. The long development and sales cycle in the commercial real estate sector can be a “real killer of innovation.” Fear of failure plays a part, Devine added. “It’s also a question of what to do first.” But Covid acted as a catalyst for widespread technology adoption, and “convinced the unconvinced”, Davis said. She is excited about the potential for the commercial sector to convert “analog assets” –everything from lights and air-conditioning – into “data streams that can be interrogated.” Davis pointed to several inspiring examples. AI Assets recently tagged more than two million assets in 1,500 Australian buildings in less than a year – 80 per cent faster than with the traditional pen and clipboard method and with a fraction of the people. Exergenics, uses big data, AI and algorithms to optimise HVAC systems, extracting “two or three per cent” more efficiency from every unit. This translates into hundreds of thousands of dollars in savings over the life of a building, not to mention carbon emissions. The outcome will be smarter buildings, but more importantly, better experiences for the user. Proptech “promotes the idea of a building as a device,” Devine added. Where do real estate companies start when they are dipping their toes into the technology waters? Devine’s “rules of the road” start with some simple questions: Whose problem are you trying to solve? And who perceives the most value in solving that problem? “And then bring together the data and process to solve the problem,” Bernie concluded. Click here to watch the latest instalment in Yardi’s Proptech...

Meals on Wheels of Wake County Jun10

Meals on Wheels of Wake County

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we introduce you to Meals on Wheels of Wake County, which has served homebound elderly and persons with disabilities for almost 50 years. The Raleigh, NC organization will celebrate its half century anniversary in 2024. “The first meals were delivered in 1974, and 48 years later, we have delivered over 10 million meals to date. We are the only daily, home meal delivery program in the county,” said Mary Kate Keith, Director of Development and Communications. “Our program is specifically geared toward homebound seniors over 60 years of age, and other homebound persons with disabilities.” Over 1,500 dedicated volunteers deliver complete meals to homebound clients, while staff provides meals to Wake County residents in eight senior dining sites. Approximately 1,300 people receive a meal every weekday, and over 405,500 meals were served in fiscal year 2020/2021.  Meals on Wheels enhances the quality of the lives of participants with a daily, nutritious, hot meal that improves health and diet. Volunteers offer a daily check-up and visit that makes them feel safer in their homes.  “We also promote independent living which can prevent or delay a move to assisted living facilities and allow participants to stay in their homes with as much independence as their health allows. Without this service, a higher cost to taxpayers would result. The average cost for a nursing home is $240 per day,” said Keith. “Funds from Yardi have certainly helped our program. This past year we have experienced rising costs in food, transportation, and staffing. Our cost per meal has risen from $7 to almost $9 today.” Volunteer opportunities for Yardi Raleigh employees One of the current goals for Meals on Wheels of Wake County is to get back to pre-pandemic service levels.  “We need more volunteers, as many of our previous volunteers did not return,” explained Keith. “We are also working on opening our senior dining rooms, called Friendship Cafes. Currently seven of our original eight dining rooms are open and we hope to open the eighth this summer. Our number of clients is also continuing to rise, which is a good sign.” Yardi staff in the Raleigh area can sign up to donate their time as a group or individuals. Visit https://www.wakemow.org/corporate-partners to find out more information about volunteering as a corporate group.  “We have 12 meal pick-up sites located throughout Wake County to make volunteering convenient from any area. I would be happy to meet with the employees at their office to discuss the possibilities,” Keith said. Learn more about Meals on Wheels of Wake County at https://wakemow.org/, and find future non-profit profiles at...

Electronic Leasing Tools

How can Yardi’s single connected solution simplify your move-in workflow? We have the answers, which we’ve compiled in our newest infographic covering all-things electronic leasing.   In essence, electronic leasing tools in the Yardi Senior Living Suite make the move-in process seamless. With interconnected tools enabling customized online leases, electronic signatures and accessible digital documents, Yardi ensures you never miss a beat in turning prospects to residents.     So if your communities aren’t utilizing electronic leasing tools yet, keep reading to see how making the switch can benefit you, your staff, residents and their families. Learn about electronic leasing functionality What is electronic leasing? In short, electronic leases — or eleases — are a digital version of the rental contract you already know. But with Yardi, electronic leasing is much more than a digital document. Our full-service, integrated electronic leasing management tools helps senior living providers streamline every step of the move-in process. Still curious how the process works, and which Yardi tools are key players? With our interconnected tools, you say goodbye to disparate systems and misplaced documents. Once your sales counselors generate a lease in RentCafe Senior CRM, it’s uploaded to RentCafe Senior Living online portal in real time. From there, prospective residents and family members get notified to complete their electronic signatures. They can log directly into the portal, or sign while in the community using a secure PIN, allowing for convenient access anytime, anywhere. All documents — including signed leases — are automatically tied to the resident record in Voyager Senior Housing. Deposits, recurring charges, one-time charges, lease terms, move-in incentives, care level, concessions, concession approvals and quote sheets systematically flow into the digital lease, eliminating the risk for errors and lost details. The challenge There’s a lot to unpack when it comes to electronic leasing functionality, and the challenges that arise when providers rely on paper-based process or siloed systems. Simply put, without an online leasing workflow, providers face: Hours spent generating leases and ancillary documentsLost prospects who wish to sign forms remotelyDisplaced documents scattered across siloed systemsA halted sales cycle and decreased move-ins Thankfully, full-service solutions like the Yardi Senior Living Suite eliminate these challenges by integrating and digitizing everything you need. The solution If you’re a visual learner, be sure to read the infographic to see how Yardi’s electronic leasing workflow operates from start to finish. This single connected solution allows providers to: Generate custom leases in RentCafe Senior CRM, our mobile-friendly sales and marketing toolEnable residents and families to sign forms in RentCafe Senior Living, our secure online portalSearch, find and update signed documents in Voyager Senior Housing, our community management powerhouse The benefits Going digital for your leasing needs has countless benefits. And with a system like the Yardi Senior Living Suite, housing everything on a single platform, those benefits include: Saving time — eliminate time spent sorting through paper documentsOffering convenience — give staff and prospects intuitive online platformsEnhancing resident satisfaction — help residents and families complete tasks with easeMaximizing occupancy — accelerate the leasing process at every level   See firsthand success from Yardi clients Wondering how providers are benefiting from Yardi’s electronic leasing functionality? Read the infographic to see what our clients are saying. If you’re ready to chat with our team about electronic leasing tools in the Yardi Senior Living Suite, we encourage you to get in touch. We can’t wait to show you...

Multifamily Update Jun08

Multifamily Update

Multifamily performance continues to outpace every year other than 2021, according to the latest Yardi® Matrix Multifamily Report. Average U.S. asking rent rose $19 in May to an all-time high of $1,680. Year-over-year growth decelerated by 40 basis points to 13.9 percent. That’s 130 basis points off the peak in summer 2021, but still exceptional performance, according to Matrix analysts. “Decelerating economic growth and concerns about gas prices and inflation have not eroded multifamily demand much nor slowed down the upward climb of rents,” say Matrix analysts. Rent growth in recent months is consistently a bit less than it was in 2021, but considerably above any previous year and spread across the country. Rent growth rose at least 10 percent year-over-year in 26 of Yardi’s top 30 metros. The biggest gains were recorded in rapidly growing Sun Belt metros. Miami, Orlando and Tampa are all above 20 percent growth year-over-year. The Twin Cities, at 5.2 percent year-over-year, was the only metro in the Matrix top 30 with rent growth below 8.7 percent. Meanwhile, the average single-family home asking rent also increased by $19 in May to $2,038, as year-over-year growth dropped by 70 basis points to 12.7 percent. The single-family rental sector is expected to continue to ride strong demand, especially as home sales slow due to higher interest rates. Learn more in the latest 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...

Community Action Partnership OC Jun08

Community Action Partnership OC

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we introduce you to Community Action Partnership of Orange County (CAP OC), which provides resources to low-income residents of Orange County, Calif. that fall into two categories: Immediate Needs (such as food, utility assistance, diapers) and Empowering Communities (such as nutrition education, youth/senior programs, workforce development, financial empowerment). CAP OC has worked to enhance the quality of life in Orange County since 1965. For more than 55 years, the organization has actively supported individuals and families with food, life skills, resources, community education, and more. Following its vision of generations of healthy communities where poverty ceases to exist, CAP OC walks alongside the people it serves, working at the ground level to connect them with the help they need.   This year, CAP OC is particularly focused on workforce development, equity, investments in human capital, low-income housing, community resiliency, and a new approach in how to move families out of poverty while empowering the communities it serves. Funds from Yardi will support programs that equip participants with the tools they need to lift themselves out of poverty in two generations. “We are grateful for this donation from Yardi. We deeply appreciate your support, especially as families are continuing to feel the devasting effects of the economic downturn caused by the pandemic. The work we do could not be accomplished without partners like you,” said LaShanda Maze, vice president of philanthropy for the organization. Major CAP OC accomplishments in the past fiscal year include:   The OC Food Bank distributed 43 million pounds of food—the second-largest amount in the Agency’s history, behind only 2020. The Southwest Community Center served 60,000 hot meals to over 300 participants who are homeless or precariously housed.The new Success Coaches Program coached 167 senior participants in the Commodity Supplemental Food Program to create SMART goals to improve their lives. The Diaper Bank program distributed 23 million diapers. CAP OC supported almost 20,000 participants with utility assistance. The organization implemented a complete virtual enrollment/assessment and contactless drop off Southern California Edison Energy Savings Assistance program that served over 8,000 families. CAP OC fulfilled a solar contract, completing certification in installation and design with SunPower and installing solar power in seven homes. The Housing Navigator program helped permanently house three chronically ill homeless participants. The Elevate Youth leadership program reached 188 youth.A new Workforce Development program launched in June, enrolling 92 young adults. By the end of December, 13 were already employed. Nine participants graduated from the Young Adult Court program and had their felony charge removed from their record. Fundraising efforts yielded $4.3 million in community support.  Learn more about CAP OC at https://capoc.org/, and find future non-profit profiles at...

Herbie Germain Jun07

Herbie Germain

In eight years at Yardi, Herbie Germain has built a successful career helping the company’s investment management clients and nurturing new talent on his team. The Long Island resident is the Consulting Practices Manager for the Investment Management (IM) suite, a platform that delivers users investment accounting, performance measurement and financial reporting capabilities. Herbie Germain “Yardi’s IM system is extremely capable and presents many opportunities to automate complex processes,” Germain noted. “I love being able to show clients how at the click of a button they can eliminate a huge amount of manual work. Seeing their eyes glow and hearing them say ‘Oh wow. This is great,’ is always a wonderful moment.” Read on to learn more about Germain’s Yardi journey and his favorite parts of his role. A journey of growth and expansion Germain holds a master’s degree in information technology from Capella University and a bachelor’s degree in physics (as well as a minor in mathematics) from Syracuse University. He started his Yardi career in 2014 as a member of the commercial implementation team based in New York. Previously, he worked as an analyst for a small financial services software company. “Yardi is the type of company where you’ll get as far as you want if you’re willing to put in the effort,” Germain noted. “The corporate culture of the company is that we’re all in this together.” Three years after he joined the company, IM expanded its support efforts to an East Coast-based team, which Germain joined as an account manager and then was promoted to consultant. The team continued to evolve, starting as a practice group, and then adding an IM client success team. When founding manager Marina Samothrakis relocated to Yardi’s Toronto office, Germain had the opportunity to step into...

Joel Nelson Named

Argentum is a leading association in senior living. From advocating for seniors and their families to driving policy initiatives, this national association works to better the senior living industry at every level. That can’t be done without a team of industry experts and passionate leaders. This includes LCS President and CEO Joel Nelson, who was recently elected to serve as chairman of the Argentum Board of Directors. With LCS being a dedicated Yardi senior living client, we are thrilled to share Nelson’s new position and extend our congratulations! Joel Nelson named Board Chairman at Argentum As the newly-appointed board chairman, Nelson brings years of industry experience to Argentum. And prior to taking this role, Nelson served as the Argentum Public Policy Committee Co-Chair — making him well versed in the association’s mission and programs.   “I am extremely proud of the work we have achieved at LCS and feel the experiences of the last decades in serving our residents and staff will serve the general membership of Argentum as we as a profession move forward to meet the challenges ahead,” said Nelson. Read more about Nelson’s appointment as board chairman at Argentum.   About Joel Nelson As the LCS President and CEO, Nelson executes strategy across all business lines in the LCS Family of Companies. That’s no surprise based on his years of service and growth as a senior living leader, all at LCS. Nelson joined the company in 1986 and since then, he’s held various executive roles on his path to President and CEO. Given his industry knowledge — and the fact that he currently serves 40,000+ seniors in 140 communities at LCS — Nelson is well equipped to serve a distinguished association like Argentum. And joining the Argentum Board of Directors isn’t his...

Food Share Ventura County Jun03

Food Share Ventura County

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 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we introduce you to Food Share, the largest hunger-relief organization in Ventura County, serving approximately 190,000 food-insecure people each year. In 2021, Food Share distributed nearly 19 million pounds of food, the equivalent of just under 16 million meals.                “A county-wide network of 190 pantry partners collects nutritious fresh and shelf-stable food items, at no charge, from Food Share’s warehouse to distribute to their local communities. Food Share also supplies multiple weekly drive-thru emergency food box distributions and runs several programs serving vulnerable communities including farmworkers, low-income seniors, and the unhoused,” said Monica White, president and CEO of Food Share. “We are immensely grateful for Yardi’s generosity and commitment to ensuring that no one in our community goes hungry. Corporate donations on the scale of Yardi’s are one of the main reasons we have been able to meet the dramatically increased need for food that we’ve seen in the past couple of years,” White said. A lost job leaves a family in need Food Share contributed the story of client Hakim and her family, who worked at a senior center preparing and serving meals but lost her job when the center closed and switched to delivery-only. For an already low-income family, the lost paycheck made putting enough nutritious food on the table even more of a struggle. “It gets really hard to feed everybody,” says Hakim, a mother of five with three children still living at home. Hakim was relieved when a friend told her about a weekly drive-thru food distribution in Moorpark where she could pick up a free box of shelf-stable pantry items and fresh produce.  “I love to cook, and I don’t want to waste any food. I enjoy cooking spaghetti, and sometimes we’ve been getting bread, and things like potatoes, celery, cabbage, and zucchini and I’ve been using that to make soup,” explains Hakim. She also remembers to pick up an additional box for a friend in need who doesn’t drive. “I hope it continues. It has been very good to have the extra food. Thank you.” Continuing the fight against hunger In 2022, Food Share will continue to lead the fight against hunger in Ventura County. “With inflation biting hard, we are seeing a new surge in people attending our drive-thru distributions and visiting our pantry partners. Hunger is an ever-present reality for too many,” White said. The current priorities for Food Share are: Increasing the number and scale of the programs serving vulnerable populations including farmworkers and the unhousedInvesting in technology to manage the increased need for food and investing in staffingExpanding operational infrastructure to meet the long term needs of the communityGrowing the supporter base. “Without the generosity and commitment of the people of Ventura County, we cannot lead the fight against hunger,” White said. Volunteer opportunities and how to learn more It takes around 150 volunteers a day to keep the Food Share operations running efficiently. Anyone interested in volunteering can go their website at foodshare.com/volunteer or download the Food Share app at the App Store and Google Play (Search Food Share Ventura County) to view the latest opportunities and sign up. “Every dollar, every volunteer hour, and every can of food donated to us makes a real difference in the lives of our friends and neighbors struggling with hunger,” says White. Learn more about Food Share at https://foodshare.com/, and find future non-profit profiles at...