CALA Conference May25

CALA Conference

If you’re attending the California Assisted Living Association (CALA) 2018 Spring Conference & Trade Show, along with 800 other professionals who will engage in important issues and explore opportunities for the assisted living industry, Yardi is excited to see you there. With the theme “elevate,” to acknowledge that senior living professionals are continually seeking ways to improve and enhance their services, the event is set for June 4-6 at the Hyatt Regency Sacramento and Sacramento Convention Center in California. Assisted living, memory care and continuing care resident community operators come together at CALA’s spring conference to participate in active learning, engage in critical discussions, and hear from outstanding presenters with a broad range of expertise within and outside the profession. Sessions will cover resident and dementia care knowledge and practices, legal and regulatory awareness, leadership and staff culture along with sales and marketing strategies. Attendees expect to walk away with ready-to-use information, ideas, and best practices that both challenge and inspire them. In addition to not-to-be-missed educational sessions, the conference also provides networking and socializing opportunities including a wine tasting event on Monday, June 4 and a cocktail reception on Tuesday, June 5. Yardi is sponsoring the luncheon general session on Wednesday, June 6 at 12:15, where featured speakers Matthew Emerzian and Cindy McCann will discuss “Creating a ‘You Matter’ Culture” that touches both residents and employees in assisted living organizations. View complete details about the luncheon, speakers and sessions in the conference brochure. While exploring the trade show exhibitors, you’re invited to discover Yardi’s single connected solution for senior living by visiting Booth 50, and while you’re there, enter for a chance to win a Bose Bluetooth Speaker. We look forward to meeting you in...

Multifamily Meets May24

Multifamily Meets

Apartmentalize powered by NAA is the apartment industry’s biggest annual event. If you’re going, you won’t want to miss out on hearing great speakers and getting energized by discovering what’s possible for your business. Apartmentalize will take place from June 13-16 in San Diego, and is the premier source for educating professionals of all job functions within the rental housing industry. The event is designed to help attendees take their careers, companies and residents’ experience to the next level. Be Sure to Attend Visit Yardi at booth #1019 in Hall E to get energized and discover what a single connected property management solution can do for your business. And while you’re there, enter for a chance to win a pair of Maui Jim sunglasses! When it comes to making informed decisions for your business, you’ve likely heard about advances in artificial or machine intelligence. To “get smart” as BI evolves through artificial intelligence, don’t miss “The Age of AI: Business Intelligence Today and Tomorrow.” The panel will discuss BI for multifamily with great insights from analytics experts from Yardi, Bozzuto, Bridge Property Management and Berkshire Communities. The session will take place on June 14 at 10 a.m. Aspiring marketing geniuses should be sure to attend the Learning Zone session “Reach Your Audience and Elevate Marketing Results with Prescriptive Analytics” presented by Yardi’s Dhar Sawh and Nima Farkhak on June 14 at 2:45 p.m. To share ways to better connect with your customers and truly understand how prospects find you, Yardi’s Esther Bonardi will moderate “How Did You Find Us? Tracking Today’s Multi-Touch Renter Journey” on June 15 at 9 a.m. Bonardi will be joined onstage by marketing experts from Greystar, EC Smith and Monarch Investment and Management Group. And finally, get enlightened about the...

YASC DC 2018 May23

YASC DC 2018

Next week, the Yardi Advanced Solutions Conference returns to the East Coast for a week of in-depth training, networking and fun! The annual user conference, also known as YASC, will be hosted at the Washington Hilton from May 30 – June 1. “We’re looking forward to welcoming clients to DC! We listened to client feedback and have expanded the number of unique class offerings and networking opportunities,” said Tim Hoover, creative director for Yardi. Features of YASC Washington, D.C. include: Conference App We’ve gone green with a new conference app! Attendees can access all conference information, venue maps, class materials, social networking and in-app messaging, and more on the Yardi Events app. It’s designed to enable attendees to custom-tailor their daily schedule with classes, demos, panels, and roundtables, and to set up one-on-one meetings with Yardi staff. The Yardi Events app is available for download in the Google Play Store and Apple App Store. A browser-based version, synced to the mobile app, will also be available, so attendees can access all these features from their desktop. User log-in details have been emailed to all registered YASC attendees. Questions? Email our team at yasc@yardi.com. Gain Insight & Get Your Questions Answered Knowledge Central is the place to be if you want to learn more about new products and upgrades, or if you have questions about your current software. We’ve gathered the experts in one place, so you’ll know where to go to get all your questions answered. Bonus: attend a 15-minute product preview in Knowledge Central and be entered in a daily giveaway for a Bose travel speaker! Expand Your Network YASC is all about learning, but we also want our clients to have a good time! The conference will offer several opportunities to connect with peers in your industry, including networking receptions and focused table...

Managing Risk May23

Managing Risk

Yardi and Property Week assembled five property investment experts to discuss low-risk ways to find value amid fierce competition for prime property. Industrial, traditional PRS, build to rent and student housing were seen to offer opportunities, with a tough retail climate and political risk on the downside. Panelists Ian Benson: Finance Director, Kier Property Meg Brown: Director of equity placement, Colliers Howard Freedman, Partner/head of real estate and construction, RSM Jamie McCombe, Partner/head of IM, Cluttons Kris McPhail, Co-fund manager, Lime Property Fund, Aviva Moderator: David Parsley, Property Week contributing editor With prime property yields tightening and investors looking for value without too much risk, our think tank participants addressed the key issues of where funds should place their cash and what factors – both positive and negative – may affect their decisions and returns. Where are the hot sectors in real estate investment? MB: This is something we think about a lot, as we typically advise pension funds and groups where risk really matters, as they are investing money they can’t really lose. So right now we’re fans of things that are not correlated to economic cycles, and that’s largely mega-themes such as student housing, PRS and BTR, micro living and, to some degree, the co-working concept. JM: We feel capital growth is going to be more muted in this market, so there has been a flight to income return. We’ve been looking at some of those long-term income plays, such as hotels and student accommodation. The industrial sector has obviously been improving in the past 12 months, predicated on investors seeing some future rental growth, so yields have fallen quite significantly, but in the right areas and at right rent, there is still something to go for in terms of return. The prime end of the...

NMHC Top Managers May22

NMHC Top Managers

Online reputation management matters. How masterfully a company handles feedback can give it a huge advantage over the competition as prospects shop around for a new rental. ORA Power Ranking shifted through the online reputations of 75,000 rental properties. The following list represents the National Multifamily Housing Council (NMHC) top 10 best-ranked managers by online reputation. The companies below received the highest ORA scores. For perspective, the national average is 60.39. Each of the companies below ranked 71.58 or higher, earning top marks for online reputation. Yardi client The Bozzuto Group once again took home the first place title. The Bozzuto Group has ranked number one in online ratings for four years. To maintain its ranking, Bozzuto increased its score by 2 percent from last year, improving from an ORA rating of 79.13 to 80.76. That 2 percent was needed to stay ahead of second place performer AvalonBay Communities, another Yardi client. With an ORA score of 80.17, it was a close call for the top two positions. In third place comes Gables Residential. This Yardi client received an ORA score of 76.98. This is a noteworthy, 4 percent improvement for the Atlanta-based company. MAA nips at the heels of Gables Residential with a score of 76.44. Its 3 percent improvement in the ORA score kept the organization in the top five. Rounding out the top five with a stellar performance comes Cortland Partners, a Yardi client. This underdog improved its ORA rating by a whopping 10 percent, reaching 75.20 this year. The following companies complete the top 10 rankings. 6. Camden Property Trust 7. RAM Partners (Yardi client) 8. Pegasus Residential (Yardi cient) 9. Aimco 10. Greystar (Yardi client) Congratulations to all of the NMHC Top 10 Managers, especially our valued Yardi...

AIM Insights

Multifamily marketers gathered in Huntington Beach, California, for the 2018 Apartment Internet Marketing (AIM) Conference on May 6-9. This year’s event focused on the latest digital marketing trends and technologies. “Marketing executives are increasingly called on to shape the resident experience and manage the pace of innovation,” shared Steve Lefkovits, executive producer of AIM. “We’re delighted to have Yardi and RENTCafé as partners in educating the industry about the future.” Some conference highlights for multifamily marketers: Customer Experience Matters Customer experience is the new marketing. At the AIM keynote, Charlene Li, principal analyst at Altimeter and co-author of Groundswell, challenged marketers to examine relationships and experiences. “If you’re not focusing on the customer experience, you’re working on the wrong things,” emphasized Li. Why does customer experience matter? Because the data says so! According to resident satisfaction data from J Turner Research, Q1 2018 apartment reviews grew by 78% as compared to Q1 2017. The average number of reviews per property has grown 20% since Q1 2017, averaging more than 86 reviews per property. The study found a strong correlation between online reputation and resident satisfaction. Resident experience matters, and it influences renter and prospect purchasing behavior. In a session on customer engagement and loyalty, Joseph Batdorf, president of J Turner Research, stressed, “Resident satisfaction matters. Making sure they’re happy affects their willingness to renew a lease.” Customer Engagement Also Matters To create a better customer experience, you need to engage your customer from the get-go and keep them engaged throughout their time with you. Where can you innovate your customer engagement strategy? Create a well-rounded engagement strategy. Implementing a multi-source lead attribution model can help marketers more accurately assign value to each touchpoint in the buyer journey. Market to common values to bolster your engagement. Sticking to common...

Sustainable Training

Do you find that your internal staff training program lacks engagement or consistency? Yardi eLearning’s featured topic for this month focuses on creating effective and sustainable training programs for busy real estate companies. Take the pressure off of your training team with these best practices. The Balance Sheet caught up with Michael Joiner of Yardi eLearning’s client services team to get the inside scoop on what this valuable training platform has to offer. What does it mean to have an Effective and Sustainable Training Program?  Joiner: An effective training program is one that meets the training needs of a company. A sustainable training program requires a balance between the administrative tasks—like scheduling training, assigning courses, communicating between instructors and students, validating student work, running reports—and maintaining existing training with the development of new training that meets additional needs of the company and its employees.  What’s one common hurdle that keeps clients’ training programs from being effective?  Joiner: Not identifying the needs of the learners. For instance, you can assign a ton a courses, but do those courses help bridge a skills gap or correct a behavior? Ineffective training programs assign courses for the sake of assigning content that someone thinks is necessary, but it may not be relevant or applicable to an individual. What’s one common hurdle that keeps clients’ training programs from being sustainable? Joiner: Focusing too much on developing new training and letting existing training become out dated. Out-of-date training leads to a lack of engagement and trust on the part of the learner. A sustainable training program creates new training initiatives while regularly updating existing content. How can users access this information after the webinar? Joiner: We’re teaching this class at YASC Washington, D.C. May 30- June 1, 2018. We’ll also be...

Bidding Wars May20

Bidding Wars

Need to motivate your customers? Use your blog or newsletter to notify prospects that your property stands in one of the hottest, burgeoning markets in the nation. Perhaps they know that—they are already interested in buying in the area–but do they know about the local bidding wars? Bidding wars aren’t limited to the large cities any longer. Secondary markets are now seeing their fair share of dueling offers. To encourage faster response times from your prospects, share some of the interesting content below: Explain a Bidding War For your content to have the greatest impact, you’ll want to ensure that you clients understand the definition of a bidding war. To be concise, bidding wars take place when multiple buyers submit offers over the asking price in a desperate effort to secure the property for themselves. A higher asking price is only part of the battle tactic. Remind buyers that there are other concessions and considerations that can sweeten the deal for sellers. How Did Your City Make the List? Honestly, most buyers won’t care how your market made the list. But just in case they ask, here is the rundown. Realtor.com examined 150 cities where homes are selling above their asking prices. The organization kept tabs on these locations from 2015-2018 to solidify the trend before adding the city to the list. That means that these cities have been getting hotter and hotter for years now. Your clients better get ready to rumble! 5 Top Ranked Cities for Bidding Wars 1. Akron, OH Share of homes selling above list price: 20.6% Increase in the share of homes selling over list price: 91.7% 2. Worcester, MA Share of homes selling above list price: 41.5% Increase in the share of homes selling over list price: 88.1%...

China and the West May17

China and the West

The looming trade war between the US and China is front-page news around the world. On the surface, it looks like US President Donald Trump is following up on his campaign rhetoric of “America first” and part of his strategy is to treat China as a “strategic competitor.” However, it’s possible to trace the roots of the current impasse to a fundamental mistrust between the West, in particular the US, and China. The cover story on the March 3, 2018 issue of The Economist, “How the West Got China Wrong,” epitomises that point of view. According to this theory, the West was hoping that, by helping China integrate into the global trading system, it would help turn it into a capitalist economy. Or simply, “they would be just like us.” However, China has not gone the way the West anticipated. Instead, it has found its own development model. It continues to be a one-party state while embracing some aspects of the Western-defined market economy and maintaining a strong government role. While the West continues to believe there is one – and only one – proper way to govern, it is fair to say that the path that suits a certain country at a certain stage of development is likely to differ from other countries’, depending on the context. It would be rather egotistical for Western politicians and pundits to expect every country to fully embrace the Western system, given the major disruptive events over the past decade, such as the 2008 financial crisis, the election of Donald Trump as US president, and sluggish economic growth for well over a decade. On the other hand, Beijing was able to lift China from basic subsistence to a situation where many people now enjoy a reasonable livelihood....

Pet-Friendly, Plus May16

Pet-Friendly, Plus

Welcoming pets onto your property was your first step in the right direction. Nearly 70 percent of U.S. households own a pet, reports the 2017-2018 National Pet Owners Survey. Pet-friendly apartments appeal to a broader spectrum of households. But don’t stop there! Several properties in your area are also pet friendly. What makes you different?  Outshine Your Competitors  The pet-centric, value-add services below can help you stand out in prospects’ minds. For your existing residents, the services encourage compliance with property regulations. When residents develop a relationship with the property staff and other pet owners, it improves the likelihood that the resident will care about the pet community at the property. 4 Fun Value-Add Ideas The best value-add ideas are beneficial for your property and its residents.  Small investments in communal spaces go a long way towards a tidy property and happy pet owners. Include pet waste disposal bags and trash can stations throughout your property’s walking trails and dog park. Water bowls and treats at the dog park also make a nice addition. Local discount programs are a terrific way to showcase the conveniences of your neighborhood. Simultaneously, you’re offering incentives to prospects and residents. Negotiate discounts or loyalty rewards opportunities with nearby veterinarians, groomers, pet sitters and walkers. Promote pet daycare services like Wag, Rover, and local boarding businesses. When pets are given supervised breaks to play and potty, they’re less likely to damage the unit they live in. Promoting daycare services is free for you and cuts costs for your property. Make your pet community a selling point by using RENTCafé SMS messaging, email, blog, and social media. This is a great way to market your pet-focused events such as adoption events, walking groups, pet hack workshops, volunteer opportunities, and more. What...

Argentum

Don’t miss the Argentum Senior Living Executive Conference and Expo on May 14-16, 2018. This year’s event will take place in sunny San Diego. The Conference Join more than 2,700 of your fellow C-level executives for three days packed with informative sessions and networking opportunities. Sessions covered include memory care, technology, hiring and management, safety, market trends and much more. Yardi’s Michael Remorenko will discuss the white paper, Senior Living Data Security. Attendees will learn how to safeguard sensitive data from online attacks and third-party hacks. Since 2015, data breaches have increased by 17.7 percent. Personally identifiable information (PII) such as social security and credit card numbers are valuable to criminals. Private information can be used to forge prescriptions, open new lines of credit and other offenses. Remorenko will present on the industry’s best practices—as well as groundbreaking advancements—that keep seniors’ data safe. For more information, visit Remorenko’s session on Wednesday, May 16, 2018 at 7:45am to 8:15am. The Expo You can explore Yardi’s latest offerings for senior living at our expo booth. The Expo showcases the latest solutions by leaders in senior living products and services. Yardi will have a 20 x 30 booth where guest are encouraged to test-drive Yardi’s senior living suite. Get answers to your questions about product offerings and how they can enhance your organization. Between the conference and the expo, there is a lot to do! Keep your schedule organized with the My Show Planner. This planning tool allows users to research exhibitors, schedule appointments, and add sessions to your itinerary. After the Show San Diego, the nation’s eighth largest city, has tons to offer visitors. The San Diego Convention Center, places guests in the center of the action. A short walk places conference attendees on the doorstep...

5 Hottest Markets May10

5 Hottest Markets

In many cities, senior housing growth has plateaued. Over saturated markets have led to stagnant occupancy rates. According to the National Investment Center for Seniors Housing and Care, 2017 ended with the national occupancy rate at 88.8 percent, down 70 basis points year-over-year. The greatest stagnation takes place in markets with low barriers to entry, such as Atlanta, Dallas and Denver, reports CBRE. Yet there are markets that are still ripe for investment. They come with their own challenges but they stand a greater chance of success. Below are MoneyRate.com’s five best bets for senior housing investment.   California San Diego and San Jose offer plenty of opportunities for construction and development—once you get past the high barriers to entry, like high land costs and low availability. It can take years for a project to break ground but once it does your class A property can thrive.   Arizona This dry desert state has done a marvelous job of absorbing new supply. Occupancy rates remain high, leading analysts to believe that there is more room for growth.   Florida The sunshine state remains popular with seniors. More seniors live in Florida than anywhere else in the United States. Their life expectancy is third-highest in the nation, meaning there are plenty of golden years in need of beautiful abodes.   Maine The northern gem ranks among the top five states for retirement. It ranks just after Florida in terms of its senior population. The state offers low crime rates and relatively low to moderate land prices, which can help keep housing prices affordable for seniors. Washington Seattle is the wildcard of the list. National Real Estate Investor lists the city due to its increase in construction and the presence of major tech giants—assuming retirees want...

China Outlook May07

China Outlook

The Chinese central government’s blessing of entrepreneurship has created a vibrant environment, says Yardi guest blogger and YASC Asia speaker Edward Tse. At the beginning of China’s opening-up and reform 40 years ago, the country’s reform architect, Deng Xiaoping, put forward that “science and technology are the primary productive forces”. At the 19th National Congress of the Communist Party of China in October, General Secretary Xi Jinping proclaimed that “innovation is the primary force driving development.” Behind both of these statements is the philosophy that research and development as well as innovation results in generating key capabilities for the country. R&D investment is generally viewed across the world as the backbone of a globally competitive and innovation-driven economy. Late last year, the European Commission released “The 2017 EU Industrial R&D Investment Scoreboard,” which covered 2,500 companies from 43  countries  that  invested  the  largest amount in research and development last year. These companies recorded a total investment of 741.6 billion euros ($909 billion; £ 657 billion) in R&D, a 5.8 percent year-on- year increase. Among the companies covered in the Scoreboard report are 376 Chinese enterprises. Their R&D investment grew by 18.8 percent year-on year in 2016, compared with a 7.2 percent increase by 822 US companies and a 7 percent increase by 567 European Union companies. While most of the top companies in the report are from the West, Huawei, a China-based telecom equipment and smart device manufacturer, leapfrogged to sixth place, registering 10.4 billion euros in R&D  investment.  Huawei’s ranking advanced by more than 200 places between 2004 and 2016. Chines e internet giants Ali baba and Tencent also entered the top 100 on the list. Chinese companies are also well known for tech innovation in such areas as drones, electric vehicles, autonomous...

Apartment Jobs May06

Apartment Jobs

The National Apartment Association Education Institute (NAAEI) now issues monthly reports called the Apartment Jobs Snapshot. The report includes an overview of the job market as well as a special highlight for a key position within the industry. Creating the Report The report addresses concerns faced by NAA members for years: a lack of comprehensive employment data and a shortage of accessible resources on our industry. Paula Munger, Director, Industry Research and Analysis explains, “We hear often from our members how challenging it is to attract, recruit and retain talent in this very competitive environment. There is a shortage of labor in the apartment industry as it continues growing in this cycle. As the Snapshot evolves over time, it can be used as a benchmarking tool based on location, job title, salary, time to fill and any number of other variables.” Rather than presenting a white paper, the NAAEI report features engaging infographics that are colorful, informative, and concise. “Since it’s basically real-time data, the goal is to release it as soon as we can at the close of every month,” says Munger. “We wanted a very easy-to-digest, quick ‘snapshot’ of the current apartment job market.” First Edition Higlights The first report, issued in February, shows over 4,600 jobs are available in the nation’s apartment industry. That’s an 18 percent increase in job postings over the previous month. Demand increased across the board but particularly for maintenance supervisors. There are more than 580 job listings for maintenance supervisors spread across the United States. Next in demand came leasing consultants with more than 530 job postings. Some cities carry the bulk of job demand. Denver leads the percent of total real estate jobs in top metros with a staggering 48 percent. Denver is followed by...

CRE Tech May05

CRE Tech

“CRE Tech Industry—Boom or Bust?” was the question posed in a recent Realcomm-hosted webinar. The answer will depend on technology providers’ ability to differentiate themselves and deliver solutions that create value for building owners and operators, according to a panel of real estate technology suppliers, investors and users including Yardi’s Alex Stanton. The five webinar panelists agreed that the commercial real estate industry historically has been slow to innovate its asset management technology. In recent years, however, competitive, regulatory and sustainability pressures have generated a sense of urgency among property owners and managers to regard technology as a strategic ally. Stanton, Yardi’s regional director for commercial sales, noted that generic enterprise management platforms have evolved to accommodate procurement, energy management, coworking and marketing, paralleling the morphing of “lease” from basic tenancy to include amenities and online self-service options. “As a provider of transaction-enabling technology, Yardi aims to create deep transactional functions that can be embedded into the core technology platform,” he said. John Gilbert, chief operating officer and executive vice president of New York City property owner and manager Rudin Management, said his company invests in technology startups and even spun off its own software company. He likened technology to a construction project: “When building a structure, we dig a hole and pour a foundation. Property owners should look at technology adoption exactly the same way. I don’t want 20 more silos with 20 new technologies. All data collected should go into a central, integrated platform that can make the building run more efficiently and be smarter.” This approach will “future-proof” buildings and create value by correlating data that’s already being collected. Will O’Donnell, a senior vice president at logistics real estate leader Prologis Inc., noted that the difficulty of adopting new technology can...

May Holidays May04

May Holidays

The month of May has a ton of holidays. You don’t have to keep up with them all, but highlighting a few can be a rewarding way to engage residents. Here are a few May holiday ideas that can help to build loyalty and boost resident retention. May 6, National Nurses Day May 8, National Teachers Day Cool Idea: Have resident nurses and teachers stop by the leasing office for a grab n’ go breakfast. Since both work long hours, foods that slowly release carbohydrates will be a huge win for them. Consider oatmeal, fresh fruit, green smoothie shots, and nut-based breakfast bars. Above and Beyond: Nurses and teachers are on their feet all day. Offer relief by teaming up with a neighborhood spa to offer foot-friendly, sample-sized products with their morning goodie bags. Be sure to include business cards for the spa. The owner gets free marketing and you get to pamper your residents (read: build loyalty). May 13, International Fair Trade Day Cool Idea: Fair Trade products reinforce the importance of livable wages for workers. In your upcoming newsletter, include a list of local shops and restaurants that prioritize Fair Trade products. Everything from coffee to clothing and home décor can be sourced Fair Trade. Above and Beyond: Make your list interactive! Throughout the month, set a table near a high-traffic area in the leasing office. Invite the Fair Trade-friendly businesses to contribute a product for sale or free samples. Circulate the products every few days so that multiple brands are represented. This approach draws residents to the leasing office to get the know the staff members—rather than only seeing them when there is a problem. May 15, International Day of Families Cool Idea: Consider hosting a raffle at your family-friendly property....

CycleMAYnia Apr30

CycleMAYnia

CycleMAYnia returns to the Central Coast from May 1-31, 2018. The “Bike Month” encourages people of all ages and biking abilities to get out and ride. Established in 2005, the regional event promotes good clean fun through activities hosted by local businesses, organizations, and community members. This year’s CycleMAYnia will feature 40 bike rides and events ranging from bike-to-work breakfasts and family-friendly rides, to skill clinics and maintenance workshops. “The community benefits through fewer cars on the road and reduced emissions, as well as elevated levels of joy and friendliness amongst neighbors, strangers, and coworkers,” said Lori La Riva, Traffic Solutions/TDM Program Coordinator for Santa Barbara County Association of Governments. As part of the month, the National Bike Challenge kicks off May 1. During the Challenge, riders can compete for fun prizes and awards, and fuel up at free bike-to-work breakfasts. Community members and Yardi employees can sign up as a team or as an individual on the National Bike Challenge website. “This is a great way to bring together local businesses in the community and for employees to see how much fun biking to work can be,” shared Kelly Johnson, Yardi event coordinator. “It brings together people that might not have crossed paths otherwise.” A CycleMAYnia sponsor and longtime participant, Yardi will host the Bike Challenge Kick-Off Breakfast on May 1, 2018 from 7:15 – 9:00 a.m. Bike on over to Yardi headquarters (430 S. Fairview Ave., Goleta) for free food, music, and fun! Learn more about CycleMAYnia events, updates and more at...

Workplace Honor Apr27

Workplace Honor

Yardi follows up being named one of Glassdoor’s top places to work in the U.S. with a local honor for its Santa Barbara and Oxnard offices from the Pacific Coast Business Times, a local news outlet covering area companies. Yardi joins an elite group of 25 firms in the Santa Barbara and Ventura/Oxnard area recognized on the list, ranging in size from startups to established companies. Selections for the list were made based on submissions from the general public. “What makes this award most gratifying is that it was the result of our employees writing about us,” said Gordon Morrell, executive vice president, in a note to Yardi staff. Ranking No. 12, Yardi is the largest employer on the list of featured companies with around 700 employees in its Central Coast offices. A feature article about the company in the PCBT focused on corporate values, benefits, philanthropy and growth. Since being founded in Santa Barbara in 1984, Yardi has now grown to 6,000 employees worldwide. You can read the PCBT story here. A ceremony honoring the winners will be held Thursday, May 17 at Hotel Californian in Santa...

Simplified Screening Apr27

Simplified Screening

Screening applicants manually and using paper reports that require further research slows your staff down — and can cost you your best prospects and valuable leases. Here’s some good news: replacing a paper-based process for qualifying applicants and converting them to residents is easier than you might think. Clients already know that approving quality residents as part of their automated leasing workflow with ScreeningWorks Pro saves time and money. The system includes advanced functionality to help clients not only easily select low risk residents who improve their bottom line, but also get more detailed analytics about individual applicants, local area renters and overall property performance that aids in decision making for the entire organization. Scoring for leasing wins Landmark Realty Controller Larry Busgeon said that one of his favorite features of ScreeningWorks Pro is the ability to selec t unique screening criteria for every property type in Landmark’s nationwide portfolio. “Our Albuquerque properties are lower end so we’re not worried so much about credit score as we are history of tenancy, For San Francisco, of course we want (strong) credit scores because the rents are much higher there, and we want to see some history on that credit score,” Busgeon explained. Landmark also has a mixed portfolio of apartments in Kansas City, Mo., a market that presents its own set of challenges. Using the most reliable data available, ScreeningWorks Pro provides automated recommendations that minimize risk. In San Francisco, Landmark uses it to screen long term residents, and has also expanded use to short term residents who stay for just 30 days. In Kansas City, Landmark screens both HUD and market rate prospects. “ScreeningWorks Pro is an excellent choice — you can fine-tune criteria by market and offer self-service convenience to applicants, with mobile...

8 Disruptive Trends Apr26

8 Disruptive Trends

Multifamily housing is changing more rapidly than ever before. The National Multifamily Housing Council recently released the Multifamily Disruption report. It highlights eight major trends that are changing the way we design and marketing apartments. 1. Robotics Tech research consultants at Gatner estimate that 26 billion devices will be connected through the cloud-based Internet of Things (IoT) by the year 2020. The five-fold increase includes more than 11 billion sensor-connected devices that control resident comfort, shopping, and entertainment. Investments in consumer artificial intelligence products may reach $126 billion by 2025. Residents have come to expect the integration of smart technology into their residences. Owners and operators are scrambling to integrate—and update— tech-savvy gadgets into rentals. 2. Convenient, Customizable Living Convenience reigns. Renters value reliable cellphone reception and high-speed internet more than fitness centers, pools, or in-unit laundry machines. By 2023, more than 90 percent of the U.S. population will own cellphones and use them as the main method of interaction with businesses and services.  The 2017 State of the Connected Customer report advises businesses to focus on immediacy, personalization, consistency, and anticipation. If these expectations aren’t met, 66 percent of polled consumers say that they’ll drop the brand. About 70 percent of consumers say that mobile technology makes switching brands easier than ever. When it comes to apartments, this translates into a few major points. Cell reception and high-speed internet are must-haves. When renters reach out to leasing office staff, they expect quick, personalized responses. Moreso, they expect the leasing staff to anticipate their needs, promptly issuing updates and repairs before they’re requested. 3. Looking Beyond Millennials One-bedroom apartments are no longer the hottest floor plan in most markets. Larger apartments at affordable prices are consuming a greater share of demand. About 73 million...