From Nov. 1-3, NMHC OPTECH brought together the brightest minds and the latest innovations in the multifamily industry. Las Vegas was the hub of important conversations surrounding the present and future of real estate technology. Here’s a quick recap of the event, including more information about the new AI-driven, human-centered solutions we recently announced. Meet your maestro, Yardi Virtuoso Whether you went in person or were staying updated from the sidelines, one innovation stood out amidst the bustle of the conference: Yardi Virtuoso. By weaving artificial intelligence across the Yardi platform, you’re not just streamlining your processes — you’re transforming workflows. Virtuoso is your gateway to a more efficient future. It offers an AI-powered agent that seamlessly integrates with Yardi solutions, revolutionizing your workflow through the power of generative AI. This new tech also leverages machine learning, natural language processing and more powerful capabilities to help solve problems in your day-to-day and drive your business forward: Tap into the power of an AI-powered assistant to do more with less – effortlessly track tasks, generate reports and more with a simple voice command Significantly reduce invoice processing time and cost Improve prospect and resident communications with a bot that can chat, text, email and call It’s the future of AI in real estate. Virtuoso doesn’t just analyze, it harmonizes — bringing together disparate, manual parts of your workflow and creating an AI-powered, human-centered symphony. Stay updated. A medley of insights Yardi leaders contributed to pivotal discussions at the event, delivering insights on technology’s evolving role within the industry through the following sessions: Yardi Vice President Michael Tuer participated in the “Multifamily Technology Spending and Staffing” panel, offering insights on necessary adjustments the industry must make to navigate an increasingly tech-centric future. In “Operationalizing Resident Fee...
Measure The Benefits
Electronic Leasing For Senior Living
When you lack efficient leasing tools, turning senior living prospects into residents can be challenging. But how do you identify the best tools? Which solutions are built to last? Paper-based processes aren’t optimal due to the risk of manual errors and lost documents. Not to mention, they can be costly. Electronic leasing tools are much more efficient, especially when you opt for a fully integrated solution likes ours. With tools across the Yardi Senior Living Suite connecting on a single platform, you’re set to simplify move-in workflows, reduce expenses and make the prospect-to-resident journey seamless. To show you just how valuable electronic leasing tools are, we have a helpful cost analysis checklist in store. Learn more and get a glimpse at what the checklist offers below. What is electronic leasing? As part of an overall set of leasing tools, electronic leases are a digital version of the rental contract you already know. They replace paper leases and ancillary forms with secure, digitally stored files. But keep in mind that with the Yardi Senior Living Suite, you access more than just digital documents. We offer integrated electronic leasing tools that streamline every step of the move-in process. In short, you can easily generate custom leases in RentCafe Senior CRM, mark them for electronic signatures in RentCafe Senior Living Portal and automatically store completed documents in Voyager Senior Housing. Without electronic leases and an integrated workflow, on the other hand, you face: Perpetual operational costs Hours spent generating leases and ancillary documents Lost prospects who wish to sign forms remotely A halted sales cycle and decreased move-ins And more How to compare costs with our checklist Now that you know more about electronic leasing, we invite you to review our cost analysis checklist! It’s an intuitive...
Visit Booth 1219
At LeadingAge 2023
It’s almost time for the LeadingAge Annual Meeting and Expo, a one-of-a-kind senior living conference. Each year, the event offers an opportunity to network with likeminded professionals, gain fresh perspectives and discover innovative technology solutions shaping the industry’s future. Team Yardi is excited to attend, we invite you to visit booth 1219 to connect with us! We’ll show you the latest advancements in the Yardi Senior Living Suite, our single connected solution designed for the unique needs of senior living. We also have a special giveaway in store (spoiler alert, it involves delicious, Chicago-style popcorn). Get the details below — we hope to see you there. About LeadingAge 2023 Hosted at McCormick Place in Chicago, Illinois, this year’s LeadingAge Meeting and Expo is a can’t-be-missed experience packed with informative sessions. Focused on topics most relevant to the industry today, the sessions will offer impactful takeaways delivered by senior living experts. As LeadingAge puts it, it’s an event crafted to fuel your mission. The conference will span from November 5-8. If you’d like to explore what’s planned, preview the LeadingAge 2023 schedule. Meet with team Yardi & grab some gourmet popcorn Interested to see the newest innovations in the Yardi Senior Living Suite? Have questions for us? Wanting to simply come say hello? All are welcome at booth 1219 — we’ll be stationed there throughout the conference. If you’d like to schedule a specific time to meet, contact us and we’ll get something on the books. As mentioned, we’ve planned a neat surprise for our booth: gourmet popcorn! But it’s not just any popcorn — we’ll be offering snack bags from Garrett Popcorn Shops, a Chicago favorite. You can expect a combination of their staple flavors including CaramelCrisp, CheeseCorn, Buttery and Garrett Mix. Anyone who stops by is welcome to a snack bag, but we encourage you to stick around for a quick activity, too. We’ll have post-its available for you to write a short message sharing what you love about Yardi (plus a popcorn-themed board to stick your message to). If you’re new to Yardi solutions, you can also share what you love about the senior living industry — or what excites you about technology looking ahead. We hope you’ll pop in and participate! The popcorn and post-its will be available all hours the show floor is open on November 6 and 7. See you next week We’re looking forward to seeing you at LeadingAge 2023. If you’d like to get familiar with our dynamic senior living software before the conference, join an on-demand...
NMHC OPTECH
Yardi Reveals AI-Driven Tech
Yardi is showcasing new solutions at the 2023 NMHC OPTECH Conference & Expo, including the latest generation of Yardi Voyager, an artificial intelligence (AI) platform and a Microsoft® Power BI connector. The event is set to take place Nov. 1-3 in Las Vegas, Nevada, and is a yearly gathering for leading figures in multifamily operations. Yardi is proud to be a longtime supporter of NMHC OPTECH and is once again a Platinum Sponsor for the event. Booth 105 will showcase new AI-powered and human-centered technology from Yardi. This includes solutions designed to help operators “compose their future,” leveraging the combination of one connected system and AI to drive performance and maximize efficiency. Eventgoers can schedule demos with the Yardi team at the booth to see the new solutions for multifamily, including: Yardi Voyager 8, the latest generation of the industry-leading platform, now with a fresh update to further enhance the user experience. Yardi Virtuoso is an AI platform built to complement Yardi solutions. It leverages AI, large language models and machine learning to drive operational efficiency between people and technology. RentCafe CRM IQ, a customer relationship management system that provides full visibility into prospect, applicant and resident workflows, in addition to enabling centralized leasing and operations. RentCafe Chat IQ, an automated attendant that answers prospect and resident questions via chat, text, email and calls. Yardi Data Connect, a secure data feed from Voyager to Microsoft Power BI that allows more customization capabilities and inclusion of third-party sources, along with preconfigured dashboards. Book a meeting to see all new solutions up close during the conference or join an on-demand...
Ghostly Real Estate
Historic, and Haunted?
Halloween is around the corner and got us thinking some spooky thoughts—the market for “probably haunted” real estate. In New Orleans, “haunted” properties are so common that some properties include “not haunted” tags on their For Sale signs. Let’s delve into some practical advice for individuals interested in purchasing a potentially haunted property. In a recent article, a funeral home in Massachusetts was listed. Instead of the traditional “for sale” sign, the real estate agent decided to pique the interest of paranormal enthusiasts and staked a sign outside that read “probably haunted.” Is the property haunted? Nobody can know for sure, but given the history, it’s a possibility. Every state differs on what is to be disclosed to buyers. Material defects such as a leaky roof or older HVAC systems are disclosed, but life gets a bit more interesting when the house’s flaws may be tragic, gruesome or paranormal. A murder-suicide inside the house is considered a psychological stigma and does not constitute a material defect. One caveat is that a seller cannot misrepresent a property’s history. If asked about crime scenes or family tragedies, a seller must be truthful. Buyer Beware: We are Haunted. Caveat emptor is a common law doctrine that places the burden on the buyers to reasonably examine property before purchasing. A buyer who fails to meet this burden cannot recover for defects in the product that would have been discovered had this burden been met. Buyers need substantial “due diligence,” especially if the price of the home is “too good to be true.” Knock on the neighbor’s door or hire a medium, because you’ll likely never know if you don’t ask. Research local town legends and the historical records of the building, especially if it is a particularly older...
Executive Insights
Yardi IM Briefing
At the recent Yardi Advanced Solutions Conference in San Diego, leaders in real estate investment management exchanged insights into industry challenges, trends and how Yardi solutions make a difference in their business. Participants in the briefing were: Adam Vanni, senior portfolio manager for Fairfield, a San Diego-based multifamily property investment company with about 42,000 units under management Bailey Breish, CFO for Alturas Capital Partners, which manages a real estate investment fund with more than 45 assets. Donnie Penney, principal business analyst for Invesco, a real estate investment manager based in Dallas. Josh Gladstein, chief technology officer for Berkshire Residential Investments, which manages more than 120 multifamily properties and about $27 billion of assets under management from its Boston headquarters. Taylor Waldo, director of IT project management for San Francisco-based Prime Finance, which invests across all real estate asset classes through 10 active funds. The session was moderated by Yardi Investment Management team members Vicki Dodig, director of sales, and Susan Freehauf, senior director of professional services. Discussion at the session, edited for length and clarity, included: Keeping Pace with Evolving Technology Waldo: “The accounting cycle doesn’t change, the tax cycle doesn’t change. But our team members need to constantly adapt to get their business done. So we try to create a culture of change that helps our team feel comfortable. I work to make sure everybody from the leadership team understands the impact that change will have on them and be trained on using the new technology. If you want somebody to give up their beloved spreadsheets, there has to be something in it for them, even if that’s just words of encouragement, words of acknowledgment that they’re getting help to do things the right way. My job is to get all our business...
Optimize Community Wellness Programs
With RentCafe Wellness
Ready to effectively manage your community wellness programs? With RentCafe Wellness for senior living, you’re equipped with online activity calendars, attendance tracking and real-time information sharing — all accessible on a single platform — making it easy to optimize your wellness initiatives. Learn how RentCafe Wellness will take your wellness programs to the next level (and benefit your staff, residents and their families) in our infographic below. Schedule activities Manage RSVPs from residents and family members Flag registrations as required or optional and set fees as needed Track resident attendance and monitor changes in behavior Forecast staffing needs for each activity Create digital calendars Share calendars on your community’s RentCafe website and via RentCafe Senior Living Portal Offer a single calendar per community or multiple calendars categorized by care Easily designate which details remain consistent and which vary month to month Download and print calendars to display across your community Empower staff Unlock intuitive dashboards equipped with KPIs Generate analytic reports to assess an activity’s impact Plan and execute follow-up care using activity wellness information Save time thanks to simplified workflows Offer convenience Enable residents and families to sign up for activities, manage registrations and more from RentCafe Senior Living Portal and the mobile app Allow residents and responsible parties to submit monthly payments for paid wellness activities with Payment Processing Keep family members in the loop with real-time information sharing Ensure residents’ wellbeing is continuously monitored Help everyone stay connected from anywhere Learn more about RentCafe Wellness Let’s enhance your wellness programs together. Check out the full RentCafe Wellness infographic then select get in touch to schedule a personalized demo! Want to see RentCafe Wellness in action today? Watch this on-demand webinar....
Senior Living Webinar...
Changemakers + Team Yardi
The senior living industry is anything but static. Leaders are constantly challenged with new obstacles as the industry changes, prompting the need to get creative, develop unique strategies and keep a pulse on what disruption lies ahead. To help you assess what change is coming in 2024 — and learn thoughtful ways to navigate it — Senior Housing News (SHN) is hosting an impactful roundtable webinar this month! The webinar will feature an amazing panel including three of this year’s Changemaker honorees as well as a special guest from team Yardi. We’re pleased to sponsor the webinar and bring you fresh perspectives from each contributor. Explore the key takeaways to expect and get the registration information below. Get the details and meet the Changemaker panelists Not familiar with the Changemakers series? You can learn more in our recent wrap-up post here on the blog, but in short, it’s an inspiring interview series honoring a batch of senior living trailblazers. Yardi and SHN have partnered each year for the last five years to recognize these individuals, gathering their stories and advice for all to enjoy. With the 2023 Changemakers offering insights relevant to today’s operators, it’s only fitting they speak in the upcoming roundtable webinar. The webinar — Senior Living in Flux: C-Suite Changemakers Discuss a Transforming Industry — is set for October 18 from 1-2 p.m. CDT. In attending, you’ll have a front row seat to the panelists’ fresh ideas and viewpoints, learning exactly where they see the biggest potential for change in 2024. Get ready for insights from: Yardi client Earl Parker, Chief Executive Officer, Commonwealth Senior Living Yardi client Sarabeth Hanson, CEO and President, Harbor Retirement Associates (HRA) Sevy Petras, Chief Executive Officer, Priority Life Care Meet the special guest,...
A STAR is Born
Connect on ENERGY STAR Day, Oct. 11
October is Energy Awareness Month, which gives businesses and consumers lots of opportunities to learn about, adopt and promote energy-efficiency practices that reduce consumption and save money. First comes Energy Efficiency Day on Oct. 4. Even more opportunities come just a week later – on ENERGY STAR® Day, Oct. 11. ENERGY STAR Day seeks to use Facebook, Instagram, LinkedIn and other platforms to connect audiences, particularly underserved communities, to all the ways they can save with ENERGY STAR. The website for the program, which is administered by the U.S. Environmental Protection Agency (EPA), encourages partners, including Yardi, to “co-amplify the important message of energy efficiency and a clean energy future for all” with their own ENERGY STAR-tagged messages. Other ways to participate in ENERGY STAR Day include community service and education projects. By engaging all levels of employees in ENERGY STAR Day, employers can “provide valuable energy and money-saving opportunities … while enhancing your commitment to energy-efficiency, sustainability, and social responsibility,” EPA says. ENERGY STAR Day’s focus on equity stems from a study by the American Council for an Energy-Efficient Economy. It revealed that low-income households pay up to three times more on home energy costs than more affluent households, representing nearly 20% of their income. “Addressing this access disparity is a priority for EPA, and one we know we can address by working together with our partners,” the EPA says. See how you and your organization can participate in ENERGY STAR Day and enable ENERGY STAR to amplify your energy-efficiency success...
Vitality Living Case Study...
Yardi Senior Living Suite
How does Vitality Living achieve more with the Yardi Senior Living Suite? Find out in our latest case study! Featuring in-depth insights from Vitality’s chief financial officer and vice president of wellness, the resource sheds light on Vitality’s major successes with our single connected solution. Sound interesting? Explore the snapshot of Vitality’s story below. The challenge For financial accounting, Vitality used to rely on manual processes and disparate systems — taking time away from priorities, generating errors and causing confusion among teams. From monthly ACH pulls to building financial reports, key tasks became increasingly arduous. Vitality searched for a dependable, integrated solution to serve as their source of truth and alleviate the challenges they were facing. In terms of gathering data and presenting insights, Vitality also utilized manual processes — as their data was scattered across siloed solutions. Not only were these processes time-consuming, but they also prevented Vitality from unlocking insights regarding occupancy, falls and more, since data lacked the organization and presentation needed to reveal important trends. Not to mention, Vitality’s data wasn’t being updated in real time. Leaders sought a business intelligence solution that would present up-to-date, business-wide data in a visual format — all in one place. The solution After searching for a trusted technology provider known for creating integrated solutions on the cloud, Vitality began their journey with Yardi. Now, they’re driving success at every level with Voyager Senior Housing and Senior IQ. With Voyager, Vitality accesses automated accounting functions, real-time reporting and complete business oversight in one centralized location. “When you’re running a report in Voyager, you’re getting real-time data,” shared Nick Byrd, chief financial officer at Vitality. “The system is integrated with all of these pieces which allows us to get a true picture.” And thanks to...
Multifamily Leaders Talk Trends
Automation, fraud & training insights
At the 2023 Yardi Advanced Solutions Conference, Director of Sales Nima Farkhak led a panel with leading multifamily figures about trends impacting the industry — and the tech they’re using to get ahead. The conversation revolved around automation, fraud prevention and training. Particularly, how can multifamily organizations receive more employee buy-in when implementing new technology, and leverage that technology to maximize support for their employees? Panelists (pictured, right) included Leslie Henry, SVP of strategic solutions and development at Towne Properties and Josh Draughn, head of marketing at Weidner Apartment Homes. Read on for key takeaways. Automating early touchpoints significantly reduces site teams’ workloads Most multifamily operators agree that strategic automation is key to efficiency, resulting in streamlined workloads, satisfied employees and happier residents. “Automation is all about how we can give back valuable time to our associates, and we’ve found Chat IQ to be extremely helpful with that,” said Draughn. “Instant gratification is now expected, so our first automated engagement starts just five minutes after an initial contact. Then Chat IQ transitions the interaction to texting, which results in a faster response time.” Since implementing automation and Chat IQ, Draughn says that Weidner experienced a 15 percent reduction in advertising costs year over year. Transparent communication is key to achieving employee buy-in But there are challenges with implementing automation, artificial intelligence and new technology in general — especially when it comes to employee buy-in. Henry noted that most of Towne’s employees have been with the company for a long time and were opposed to change — until they saw its benefits firsthand. “After we implemented Chat IQ,” Henry said, “Our site teams quickly realized how useful it was in gaining back time. They love how it filtered out less promising leads in the beginning. But we also took their feedback if they didn’t like the way the bot was responding. We let them customize some aspects of the responses so there was more of a personal human touch.” Draughn agreed. “Getting buy-in at first will always be challenging,” he said. “But it’s all about how you communicate new changes and listen to their feedback. The human element in multifamily is always going to stay.” Deterring fraud with automation Multifamily organizations are also relying on technology to vet applicants more than ever. ID Verify uses facial recognition technology to confirm applicant identities. To do this, applicants take a selfie during the screening process, which is then matched with the official documents they submit. “Accuracy is one of the biggest benefits of automating the identity and income verification process,” Henry said, adding that automated technology has acted as a fraud deterrent, saving Towne thousands of dollars in the process. “In the beginning, I thought we were losing rentals,” Henry said. “But when we looked closer, it was because some IDs were so clearly fraudulent that the system weeded them out instantly. It saved us from dealing with them, them potentially living with us and us incurring bad debt.” Draughn agreed, noting that while there may be steps like taking selfies, genuine prospects will still follow through with the application. This allows leasing teams to avoid guesswork or repetitive communications. Streamlining online training As the pandemic shifted training methods from in-person to online, Towne Properties also turned to the learning management system Aspire for online training. “We’re learning about the product faster and it’s easier for us to train new employees,” Henry said, highlighting the ease brought by Aspire’s full integration with Towne’s solutions. “It feels good knowing that anyone can learn at their own pace with Aspire.” See it in action A connected solution can help you drive efficiency at every stage of your workflow, enhancing data connectivity and eliminating gaps. Want to see what this looks like in action? Watch a webinar to see how Yardi helps you streamline workflows, reduce fraud and enhance...
Energy Efficiency Day, Oct. 4
Share Your Ideas
On the 8th annual Energy Efficiency Day, Oct. 4, Yardi Energy will join thousands of organizations in the U.S. and Canada in sharing ideas for reducing energy waste and expanding energy efficiency. Energy Efficiency Day provides a forum for U.S. and Canadian corporations, local governments, universities, utilities and other organizations to document such initiatives as upgrading lighting, building insulation and heat pumps and establishing partnerships with local utility companies to reduce stress on the grid during peak demand. The day helps those occupying and investing in residential, commercial, affordable and other property types “share tips, tools and stories that promote the multiple benefits of energy efficiency, [which is] the cheapest, quickest way to meet our energy needs, cut consumer bills and reduce pollution,” says the Energy Efficiency Day organization, a coalition of U.S. energy efficiency advocacy groups. Energy Efficiency Day holds special resonance for Yardi because it involves “a core component of our mission as a real estate technology provider. It’s a great opportunity to focus attention on the critical issue of energy performance, spur action and inspire long-term thinking about what’s needed to create a positive energy future,” adds Joe Consolo, Yardi industry principal for energy. In March, Yardi received the 2023 ENERGY STAR® Partner of the Year Sustained Excellence Award after being named Partner of the Year for five consecutive years. The Yardi ESG software suite enables green energy procurement, whole-building energy water and waste data aggregation, and reduced energy usage in residential and commercial properties. The company has also maintained ENERGY STAR certification for its corporate headquarters in Goleta, Calif. Learn more about ways to maximize the impact of Energy Efficiency Day, including a toolkit for promoting your efforts on social media channels, joining the conversation and finding news about energy efficiency...
Yardi & NAREIM
Dynamic Collaboration
Since its founding in 1990, NAREIM has promoted best practices for real estate investment management with an array of education, networking, research, thought leadership and student program opportunities. Yardi has consistently supported NAREIM events as a sponsor, exhibitor and presenter over the years. Close out 2023 on a high note by joining the Yardi Investment Suite team at these dynamic NAREIM events: Event: NAREIM Executive Officer Meeting Date: Oct. 4-6 Place: Deer Valley, Utah Summary: Roundtable sessions and group discussions on building effective relationships, creating organizational strategies, and meeting the challenge of finding the right skills for asset management, transactions and portfolio management. Extras: Alpine slide and tubing down the 90K ski jump at the Park City Olympic Village. Meet with Yardi: Fill out a contact form. Event: NAREIM Capital Raising & IR Date: Dec. 6-7 Place: New York CitySummary: NAREIM Capital Raising & Investor Relations committee update, followed by sessions on managing ESG and DEI issues, elevating fundraising skills, raising capital from non-institutional sources and looking ahead to 2024. Extras: Networking dinner at the Liberty Bistro in downtown Manhattan. Meet with Yardi: Fill out a contact...
Energy Buzz
What’s New with ARPA-E
Here’s the latest of our periodic reports on projects undertaken by businesses and academic institutions that are sponsored by the Advanced Research Projects Agency-Energy (ARPA-E), the U.S Department of Energy’s R&D arm. Domestic energy production projects In August, the DOE announced funding for 18 ARPA-E projects designed to establish potential new areas of technology development and information that could bolster domestic energy production, cut consumption and reduce greenhouse gas emissions. The funding recipients include: WH-Power of College Park, Md., which will develop a zinc battery – inherently safer and less expensive than existing batteries – that can operate at both high and low temperatures in residential and grid-scale energy storage applications. C-Crete Technologies of San Leandro, Calif., which will create new insulation for large power transformers that could save the U.S. economy tens of billions of dollars annually by reducing the number of power outages associated with transformer failures. The University of Notre Dame, which will design a low-cost power transistor for devices used in electric vehicles, industrial power control and more. The proposed design could lead to possible energy savings of one quadrillion British Thermal Units per year, about 1% of annual energy consumption in the U.S. Perseus Materials of Knoxville, Tenn., which will develop new composite wind turbine blade manufacturing modes that could reduce labor costs, cycle times and factory footprints at the same output levels. Clean energy and data centers Another round of funding announced in June earmarked $100 million to support the commercialization of clean energy technologies. In May, 15 projects received $40 million from ARPA-E to develop high-performance, energy efficient cooling solutions for data centers that house computers, storage systems and computing infrastructure. Data centers account for approximately 2% of total U.S. electricity consumption while data center cooling can...
Yardi IM on the Road
Q4 Events Preview
The Yardi Investment Management team has a full slate of events across the country as the 4th quarter beckons. Along with cosponsoring several of these major industry forums and conferences, Yardi sends expert teams to demonstrate the value of the Yardi Investment Suite, an end-to-end technology platform that automates the real estate investment lifecycle. Key upcoming real estate investment events include: IMN Real Estate CFO & COO Forum Date: Oct. 2 Place: New York City Geared toward CFOs, COOs, tax and accounting officers, controllers and treasurers, the 11th annual staging of this event offers insights from real estate developers, lenders, REITs and operating companies. Sessions focus on trends in accounting, regulations and technology, along with fund raising, the power of AI and more. See more event information. IMN Real Estate Family Office and Private Wealth Management Forum Date: Oct. 4-5 Place: Miami This event showcases opportunities in the family office asset class, which allocates about 15% of its portfolio to real estate direct investments. This forum is suited to asset managers, debt and equity financiers, family business owners and investment consultants, among others. Learn more and meet with the Yardi team. IMN Middle-Market Multifamily Forum West, Northeast and Arizona Date: Sept. 19-20 (West), Oct. 10 (Northeast), Nov. 13-14 (Arizona) Place: Carlsbad, Calif. (West), New York (Northeast), Litchfield Park, Ariz. (Arizona) Targeting small and mid-sized multifamily owners and operators, these deep dives explore issues, opportunities, strategies and trends that impact a class that comprises 75% of all multifamily investors. Value-add strategies, working with institutional capital and the “acquisitions shark tank” are among the industry leader-led sessions on tap. Learn more about the Carlsbad, New York and Litchfield Park events. Learn more about the industry events that Yardi participates in as a sponsor, expert and...
Yardi Senior IQ
New Features, Fresh Enhancements
We’re thrilled to announce the newest features in Yardi Senior IQ — our dynamic business intelligence solution for senior living. From brand-new dashboards to improved reporting capabilities, each enhancement is available now! That means if you’re currently using Senior IQ, you can start enjoying the latest functionality right away. We roll everything out automatically to make the transition as easy as possible for our senior living clients. Ready to see what’s new? Read the highlights below to learn what this release brings to the table. Explore what’s new For starters, we’d like to thank our amazing senior living clients for providing feedback on Senior IQ. The following enhancements are inspired by what’s been shared with our team, and we’re pleased to continue evolving Senior IQ based on our clients’ wants and needs. First up, we’ve made it easier to use Senior IQ as a central location for gathering key data and generating reports — and to share that data with teams across your organization. Enjoy the ability to quickly reference miscellaneous reports and dashboards, displaying the KPIs most important to your organization, in routine meetings, variance calls, department check-ins and even at community stand-ups. Moving on, in relation to labor and staffing, we’ve added the ability to integrate your daily labor data. This allows you to analyze overtime — sorted by department and job positions — and identify areas for improvement. Next up, we have three new dashboards! Here’s a snapshot of what they offer: CRM success metrics dashboard — as the first of its kind, this CRM dashboard presents key metrics regarding occupancy, closing ratios, lead status, sales counselor performance and more. Leasing documents dashboard — serving as a usage check for those operating with electronic leasing, this dashboard captures...
Changemakers 2023 Concludes
New Ebook Released!
It’s a wrap on the 2023 Changemakers series, which we’ve proudly sponsored for the fifth year in a row. We’re delighted to have joined Senior Housing News (SHN) throughout the series to present the class of honorees — nine in total — sharing their insightful interviews here on The Balance Sheet. To mark the conclusion of the series, SHN released a compilation of exclusive interview excerpts in a brand-new ebook. You can download the ebook today to access unseen stories, insights and advice from each Changemaker. Once again, congratulations to each and every Changemaker honoree — Yardi senior living clients included! Yardi clients named 2023 Changemakers With the ebook available now, it’s only fitting we recognize our senior living clients for their interview contributions — and celebrate them for their role in this year’s Changemakers series. We’re so pleased to congratulate: Earl Parker of Commonwealth Senior Living Jodi Guffee of Radiant Senior Living Doug Dollenberg, Jr. of Brightview Senior Living Rod Burkett of Gardant Management Solutions Sarabeth Hanson of Harbor Retirement Associates Doris-Ellie Sullivan of Retirement Unlimited, Inc. About the series As the senior living industry navigates ever-changing challenges, owners, operators and executives are breaking the status quo to adapt and evolve. Leaders have created leaner operations, improved efficiency and transformed the way they do business entirely through technology adoption. Through it all, they continue to push the boundaries of what it means to be industry leaders and visionaries. Now sponsored by Yardi for the fifth consecutive year, the Changemakers series recognizes and celebrates the most innovative leaders in senior living today. Learn more about the annual interview series by SHN. Read this year’s Changemakers ebook We hope you’ve enjoyed the Changemakers series to date — we’ve certainly enjoyed sharing each honoree’s story with you. If you’re ready for bonus insights from this year’s Changemakers, explore the ebook. If you have any questions about how Yardi supports operators with our dynamic senior living software — don’t hesitate to schedule time to connect with...
National Assisted Living Week
Yardi Clients Host Celebrations
National Assisted Living Week (NALW) is here! If you’re unfamiliar, NALW is an annual initiative established by the National Center for Assisted Living (NCAL) that celebrates assisted living communities and the individuals they serve. The week-long initiative encourages communities to offer events in observance of a specific theme — announced by NCAL each year — for residents, family members, staff and volunteers to enjoy. The inspiring theme for 2023 — Season of Reflection — is all about pausing to reflect on the important things in life, including the special bonds created within assisted living communities. And to no surprise, our Yardi senior living clients are doing just that — encouraging thoughtful reflection through a variety of creative events and heartfelt messages across social media. We’re pleased to share a snapshot of what these fantastic clients have done so far, and we applaud each and every community celebrating NALW this year. Not only do the celebrations spark an appreciation for residents, staff and more — but they also help spread awareness on the importance of assisted living in the U.S. Yardi clients celebrate National Assisted Living Week Thrive Senior Living took to social media in spirit of NALW, sharing an informative video with helpful tips for choosing the right community. They also posted a sweet thank you message on LinkedIn to recognize their associates for changing the lives of residents across Thrive communities. “Thank you to all our AL staff for the helping hands you provide,” wrote Thrive in the post. Benchmark Senior Living joined the conversation with a thoughtful blog post focusing on the meaning behind NALW — and their devotion to this year’s theme. Sharing the blog post on LinkedIn, Benchmark wrote, “This year’s theme beautifully encapsulates what it means to feel gratitude for all we have and cherish each moment.” Read Benchmark’s blog post on NALW. Maplewood Senior Living also posted on social media in honor of NALW, sharing their excitement for the celebrations to come and noting the value of assisted living for today’s seniors. “We want to emphasize how assisted living can significantly contribute to seniors leading longer, healthier and more fulfilling lives,” shared Maplewood in the post. We can’t wait to see what else our clients have in store as NALW continues! Be sure to keep an eye on social media for additional posts. More about National Assisted Living Week Established by NCAL in 1995, National Assisted Living Week offers a unique opportunity to recognize the role of assisted living in caring for seniors, as well as individuals with disabilities. The annual observance encourages communities around the country to offer a variety of events and activities to celebrate the individuals they serve — and to help educate members of the public about this distinctive aspect of long term care. Each year, NCAL releases a variety of resources to help communities prepare for the week-long observance, including an extensive planning guide with suggestions for activities, media tips and more. Enjoy #NALW! To join the celebration and help spread awareness, be sure to use #NALW on social media! The observance spans from September 10-16. And be sure to check out the #NALW page on LinkedIn to see what’s been shared so far. From the bottom of our hearts, thank you to those across assisted living for all that you do — Yardi clients included. Not a client and curious to learn how we support communities with our dynamic solutions? Reach out to team...
Partners in Excellence
Yardi’s Fellow ENERGY STAR Honorees
Earlier this year, Yardi earned an ENERGY STAR® Partner of the Year Sustained Excellence Award from the U.S. Environmental Protection Agency and the U.S. Department of Energy after earning designation as Partner of the Year for five consecutive years. The award recognizes Yardi’s efforts in 2022 to help clients benchmark energy and water usage, obtain green financing, expand their energy management skills at Yardi Advanced Solutions Conferences and incorporate ENERGY STAR into an energy management software dashboard. Yardi was joined by a distinguished roster of fellow Sustained Excellence Award recipients from numerous industries across the country. Here’s a sampling. Commercial food service equipment manufacturer ITW Food Equipment Group of Troy, Ohio, increased ENERGY STAR-certified product offerings across its seven brands, trained its entire staff on ENERGY STAR and promoted the program’s benefits to end-users and distributors. ITW also introduced new ENERGY STAR-certified products, such as fryers and ovens, and marketed the program extensively through press releases, blog posts, website content and social media. Los Angeles-based home builder KB Home built more than 12,000 ENERGY STAR-certified homes in 2022 and generated more than 120 million impressions for an upcoming energy-smart connected community development that will include 200+ ENERGY STAR-certified homes. KB Home also promoted ENERGY STAR across various online platforms. Cenergistic, a Dallas sustainability consulting company, benchmarked more than 1,000 properties and integrated ENERGY STAR into all of its client services. The company submitted 341 ENERGY star certification and recertification applications, implemented energy management plans for its clients and posted ENERGY STAR content on social media. Nissan North America Inc., based in Franklin, Tenn., used ENERGY STAR tools and resources to reduce the energy intensity of its North American operations. The motor vehicle manufacturer achieved ENERGY STAR certifications for two manufacturing plants and hosted energy treasure hunts that identified over 18,139 metric million British thermal units in potential energy savings. Nissan also provided pro bono engineer reviews that helped 16 schools earn ENERGY STAR certification. EnergyLogic Inc., a home energy rating and applied building science company in Berthoud, Colo., provided technical support and training for home energy raters, program stakeholders and other industry professionals to ensure consistent application of ENERGY STAR program requirements. Its building science consultations incorporated trends, materials, systems and technologies that enhanced its clients’ ENERGY STAR success in 2022. The Des Moines Public Schools district in Iowa became an ENERGY STAR Certification Nation Premier Member by earning certification for 36 schools in 2022. The district also saved $1 million in energy costs that year. Financial services provider MetLife Inc. of New York City achieved ENERGY STAR certification for 30 properties, published three white papers on decarbonization and launched a campaign to increase the quantity and quality of portfolio-wide whole building energy data. MetLife also established a target to achieve net-zero emissions for its global operations and general account investment portfolio no later than 2050. St. Louis-based smart thermostat manufacturer Emerson Sensi conducted more than 1,200 ENERGY STAR training sessions for contractors in 2022 and offered ENERGY STAR-certified thermostats that are compatible with major smart home ecosystems such as Amazon Alexa, Google Home, Apple Home and Samsung SmartThings. Sensi also featured ENERGY STAR messaging on its retail products’ packaging. See the complete list of ENERGY STAR Award winners for 2023. Learn how Yardi helps commercial and residential real estate companies achieve their energy and sustainability...
Property Energy Data Requirements
The Yardi Role
The U.S. Environmental Protection Agency (EPA) requires commercial and multifamily building owners to improve performance in energy consumption, greenhouse gas emissions, water use among other aspects of building operations. With compliance deadlines approaching, several jurisdictions are stepping up their energy benchmarking efforts. Indianapolis, Miami and New Jersey, for example, have deadlines this year. Deadlines for New York City, St. Louis and Denver come in 2024, with Washington, D.C., Boston and others to follow over the next two years. That’s why the EPA has been working to raise awareness of the importance of aggregated whole building data and ways that states and utility providers can provide it to property owners. This data delivers visibility into energy consumption and helps create a roadmap for instituting ongoing operational improvements. “Demand for this data will grow as building owners seek new federal incentives under the Inflation Reduction Act that require documentation of whole-building performance as a condition of participation,” the EPA says. EPA has also advised states on passing laws that can overcome barriers utilities face in providing data. Such laws can create a path to cover costs associated with providing the data and define requirements to protect individual tenant data. The EPA will launch a full-fledged campaign over the coming months, in partnership with key building owner associations, to raise awareness of the need for this data among state policymakers and utilities. How Yardi can help What is Yardi’s connection to property owners satisfying these EPA requirements? The company’s advanced software and service solutions “simplify the aggregation of whole building data collection and reporting for environmental, social and governance purposes. The first step is gathering data from multiple sources and identifying efficient and inefficient buildings,” says Joe Consolo, industry principal for Yardi Energy. He adds, “Tracking an asset’s performance over time is also critically important. Having received an ENERGY STAR® Partner of the Year Sustained Excellence Award and earned ongoing ENERGY STAR certification for our corporate headquarters, Yardi has the expertise to work with utilities and our client building owners, tenants and residents on these priorities.” Learn more about Yardi’s comprehensive energy management solutions for energy management solutions for residential and commercial...
