Rising to Challenges Apr03

Rising to Challenges

It’s common for career paths to resemble the gradual assembly of a puzzle rather than the setting down of a yardstick. We begin with all the pieces, but it may take an external influence to help us see the whole picture. Queenette Chappell found herself sitting across from a career counselor with a slew of talents, a strong work ethic, and uncertainty of what to do next. Chappell wanted a career that merged her calculative mindset with her soft skills. “I wasn’t sure whether that existed,” she recalls. “I went to the UCSB career center looking for advice. They told me that an account manager job at a company named Yardi would be the perfect fit for me.”   Rising to the Challenge She began as an account manager and accelerated to become the manager of the Santa Barbara Investment Management Practice Group in fewer than five years. Now, she fortifies valuable relationships with clients by ensuring that her team provides exceptional support. “I focus on investing in our team’s development: conducting deep trainings, having frequent conversations about their careers, organizing team events, and introducing them to the greater Yardi community in monthly ‘Donut Fridays’ with other teams,” she shares. That is a modest overview of her responsibilities, of course. The intricacies of daily operations highlight why investment management roles are both challenging and rewarding. “Our clients structure their investment deals specifically to their business processes and requirements,” she explains. “Each client uses Yardi software differently, and our account managers and consultants need to give customized support to each client. To support these varied structures, we have robust products that give our clients the ability to exercise flexibility and customization.” Such complex software requires account managers and consultants with a fine eye for detail and a...

Learn, Grow, Excel Mar30

Learn, Grow, Excel

“What do you want to be when you grow up?” It’s a question that kids throughout the nation have considered with light-hearted curiosity. Doctor? Astronaut? Director of an investment management consulting team? That’s is an unlikely response, but Jace Swank has thrived in an unexpected field. Yardi: the right fit Shortly after graduating from UCSB, Swank began his career at Yardi as a technical account manager. About seven years later, he serves as director of consulting practices. He now oversees support and implementations across North America for the Investment Management Suite of products including Investment Manager, Investment Management, and Investor Plus. Though the account manager position interested the recent graduate, he accepted the job offer because of corporate culture at Yardi. “As I asked around and learned more about what Yardi did, I was excited to see the cross hairs between technology and real estate management,” says Swank. “I come from a family of contractors and have always been interested in computers. Using technology to professionally manage properties was of high interest to me.” “Upon further research about the company,” he continues, “I found nothing but great things about the culture and how well Yardi takes care of employees. I can confirm that after nearly eight years here, all my findings were an understatement. Yardi is a great place to be!” Learning investment management firsthand Once he identified the right company, it was time to learn his new role within it. Investment management is new terrain for most entry level new hires. Though the demand for investment management personnel is high, there are surprisingly few programs to prepare young adults for careers in the field. In addition to technical knowledge of the software, discerning clients seek consultants with a firm understanding of their business...

Employee Spotlight Mar18

Employee Spotlight

It all started with a baby.  In 1995, Catriona Orosco welcomed a handsome baby boy into the world. She was quickly dissatisfied, however, by the drab and impractical clothing on the market for nursing moms. “I thought I could do better,” she says. She had no idea that her career with Yardi was in the making. Nursing Mamas and Internet Marketing A few years later, while pregnant with her second son, Orosco created Nursing Mamas, a clothing line for breastfeeding mothers. She teamed up with a friend and began making trips to the Los Angeles Garment District. After each trip, they returned to Santa Barbara with cozy, natural fabrics that they’d take to a local pattern maker and producer. Once a few good products were in development, Cat turned her attention to marketing. “I started a website because I really just wanted to sell the clothes online and work from home,” she says. “It was an incredible learning experience.” Orosco witnessed the birth of Google, and quickly saw the marketing opportunities with AdWords. “I used AdWords very early on and figured out how to optimize my website back in the days when there really were only 10 blue links,” Orosco laughs. “I learned a lot about marketing, and it was exciting to participate in everything that was happening online.” At that time, the average jane did not build her own website. There weren’t handy drag-and-drop features or convenient widgets. There certainly weren’t many resources on increasing organic rankings with search engines. Cat explored the terrain of website building and online marketing, talking to as many people as she could find and testing on her own. When she exhausted her available resources, she got the help of a SCORE consultant. “While they were impressed with...

A Career on the Go Mar09

A Career on the Go

As of March 2020, Carlos Perez will have spent two decades in the data management industry. Three common themes run throughout his career and personal life: technology, Yardi software and change. Carlos has a Bachelor of Science in Information Technology degree with a concentration in Business Analytics from the University of Phoenix. He enjoys collecting music on vinyl, DJ’ing, reading self-motivational books and playing scrabble with his wife and kids. His current position is senior technical analyst for Yardi, specializing in support of public housing agencies and cloud-based technology. The story of how he got here is a bit complicated, to say the least. Carlos was born in Los Angeles, where he spent his first five years before moving to Ensenada, Mexico. Later, he’d move back to Los Angeles, and then back to Ensenada, then San Diego, Tijuana, and ultimately to Santa Barbara. Throughout his moves, Carlos built the foundation of his professional skills on technology and data. He began his career in the PHA industry in 1999, working for the Los Angeles County Development Authority (formerly known as Community Development Commission/Housing Authority of the County of Los Angeles). “We were using VisualHOMES software, but were in the process of switching to Yardi. Our VisualHOMES team was understandably disappointed that we were leaving. But then, not long after, Yardi acquired VisualHOMES, and somewhat ironically, we were once again working with our VisualHOMES team to implement Yardi Voyager PHA,” says Carlos. In 2007, Carlos got married, moved to San Diego and began working as a crime data analyst for the San Diego Sheriff’s Department. In that role, he made a professional connection with a Yardi executive who was doing some work with the San Diego Housing Commission. That connection eventually led to another job change...

Meet Nicole Graham Feb18

Meet Nicole Graham

How do you efficiently run an affordable assisted living community? We spoke with Nicole Graham to get the answers. Nicole is a licensed administrator for Nevada HAND, the largest nonprofit for affordable housing in the state. They’ve helped thousands find a place to call home – including older adults. Nevada HAND owns and operates two affordable assisted living communities in Las Vegas under the Silver Sky brand. Nicole’s in charge of their location at Deer Springs. Nicole revealed how they grow their community, connect with family members and provide the best possible care for residents through the Yardi Senior Living Suite. We’ve transcribed a few highlights from the interview here, but be sure to catch the video below too. Q: What Yardi products have been most transformative for you and why? We have definitely enjoyed Yardi EHR and Senior CRM. On the marketing side, it’s about knowing where our prospects are coming from and if we want to go back to that market area. But then once they are a prospect in the lead database, it goes all the way through the workflow on to the care side with EHR. Just being able to visually see that whole process has been really great. Q: How does your team maximize lead conversion with Senior CRM? Because you’re able to see the reports and analytics in Senior CRM, we know how long each lead takes and why they might not have moved in. We understand where we are at with that prospect. Are they in rehab? Are they still at home making the decision? Are they over resource because of our affordability and our income limits? Or are they waiting on other resources because they need to make the rent limit? So knowing those lead conversion...

Love + Basketball Feb14

Love + Basketball

Kelvin Arps braced himself as he steadily dribbled the ball. He was surrounded by his siblings and cousins, some as teammates and others as opponents. Basketball was serious fun in this family, and he knew he’d have to think fast, communicate well, and find creative ways to out-perform his older family members. When those skills combined, he knew he could help bring home victory for his team. In the Office with RENTCafé Little did Arps know that he’d grow up to use similar skills in his career. As a RENTCafé solutions consultant with Yardi, he applies lessons from the court to his work in the office. “Through basketball, I’ve learned how to overcome adversity and obstacles. I’ve learned to be flexible and accommodating to the clients I work with on an everyday basis. Communication is also key, like explaining our features and the benefits of the RentCafé suite. That way, our clients can choose the solution that’s best for them and optimize their use of the products.” As a consultant, Arps enjoys working with sales representatives across the nation. Each interactive gives him a unique insight into how people handle situations. He then adapts that knowledge to better serve customers in future interactions. “It’s a bit like studying plays and learning about other players,” he reflects. Though Arps excels in his role at Yardi, it’s his coworkers who have made his career most fulfilling—even coworkers those who aren’t Lebron James fans like himself. “Since day one, I have always been myself and been accepted within the Yardi family. I enjoy most how the Yardi culture embraces you and your family with open arms.” Back on the court with his family Arps is no longer a little kid outwitting his siblings on the neighborhood court....

Advocating Accounting Feb13

Advocating Accounting...

In honor of National Apartment Careers Month, we shine a spotlight on professions within the multifamily housing industry. Accountants embrace a multifaceted career that stays relevant even when the winds of change blow their hardest. Their versatile skills sets prove useful in various arenas of the field, offering the professionals options for growth and new challenges. Across the board, accountants enjoy the dynamic atmosphere of the housing industry. It’s not a matter of sitting at a desk for hours, pushing paper and crunching numbers on the same tasks day after day. Tiffany Godley, Senior Accountant at Avison Young, values the flexibility offered by the field because it allows her to remain passionate about her job and interested in her continued growth. “It’s not monotonous by any means. There are new challenges every day; the market is changing every day. Real estate offers so many different avenues to take: apartments, retail, hotels, commercial properties, building–once you’re in, you’ve got so much flexibility. It’s actually hard to get bored.” That flexibility comes in the form of vertical and latitudinal job tracks. Real estate firms open a world of career options for accountants. Sandy Roberts, Controller at Thomson Companies, discovered that her degree and experience qualified her to wear many hats within the company. “[A controller’s] responsibilities can vary, from financials from the beginning to the end of projects, as well as human resources, payroll and beyond. Accountants are under a large umbrella with lots of potential.” Such endless possibilities make accountants an invaluable part of the housing industry. “Accountants become the go-to person that’s always in demand,” she says. Such demand has not seemed to dwindle in face of increasingly sophisticated software. Rather, advances in technology have enabled accountants to perform their jobs more efficiently without...

Staff Appreciation Feb03

Staff Appreciation

Do you have members on your team that go above and beyond the call of duty? Or maybe you want to reassure your staff that their opportunities are just that—opportunities! There are several reasons for employee appreciation efforts. But unless you can offer family vacations and luxury cars for everyone, you may struggle with affordable ways to convey that you care. Show your team some Valentine’s Day love with these creative and inexpensive staff appreciation ideas. First Things First—Thank Them Have you actually said, “Great work” or” Thank you”? If not, start there. The phrases are so simple but when they’re sincere, they’re effective and motivating. While exploring the other ideas on this list, be sure to include a verbal and/or written word of thanks to make the maximum impact. Affordable Group Outings Organize a free, outdoor activity for your staff. Consider a group hike, walk, frisbee golf, or team sport at a local park. Such activities encourage team members to get active (ahem, lower health care costs) while building camaraderie. Team Yoga Corporate yoga classes are another great way to unwind. Yoga can teach employees healthy ways to destress, control their emotional responses, boost energy, and improve sleep. The possible benefits are truly endless! Host a visiting teacher at your office to include as many employees as possible at a reasonable rate. You can also request a private class for your group at a local studio. Many studios will provide mats and affordable pricing for private groups. To accommodate the most students, consider a basic hatha or restorative yoga practices. Community Activities Many neighborhoods host inexpensive activities that can serve as a fun outing for your team–and you don’t have to organize the events! Outdoor movies, concerts, festivals, and food fairs are easy...

International Outlook Jan15

International Outlook...

Editor’s note: the below perspective on 2020 and the decade ahead for technology and real estate comes from Neal Gemassmer, vice president of international for Yardi. Originally published in Property Week, it is reprinted here with permission. The festive period was an invitation to reflect on the year gone by and the year ahead, even more so than usual. After all, it was the end of one decade and the beginning of another. Naturally enough, all eyes are on Brexit, but from a real estate perspective the impact that technology is having on our industry offers the most interesting food for thought. New technology has had a greater impact on property in the last few years than in the previous three or four decades combined. In 2010, the term ‘proptech’ had not even been coined; today, it is ubiquitous. However, in my view we have barely scratched the surface in terms of its influence. In the years to come, it will redefine how real estate functions. Here are a few ideas as to how. First, consider the build-to-rent (BTR) market. More and more investors are moving into the sector and technology has the potential to act as a major enabler. Digital technologies can allow owners and operators to cut out the middle-man – the letting agent – and communicate directly with potential customers, who can view different buildings and get a feel for the quality of the accommodation and the amenities on offer. Virtual reality lets potential tenants view a property remotely, while online tools can arrange physical visits without the need to call or email ahead. Applications and background checks can also take place digitally and customers will be able to sign their lease and pay their deposit online. The whole process will become virtually...

Making History

Dorothy Day Place, owned and operated by Catholic Charities of St. Paul and Minneapolis, has made history. With 370 permanent supportive homes and 356 emergency and medical respite beds, it’s one of the largest affordable housing projects in the state. The project is also the largest public-private partnership involving housing in Minnesota history. Dorothy Day Place was made possible in part by a philanthropic collaboration between Catholic Charities and Yardi client, Dominium. New Phase, New Chapter in History Dorothy Day Place wasn’t planned as a record-breaking collaboration. With the first phase complete, Catholic Charities turned its attention to phase two in 2017. Leadership recognized that the ambitious second phase would benefit from the insight and expertise of an experienced developer. Catholic Charities contacted Dominium, one of the country’s largest affordable housing developers and a fellow Minnesota-based organization. The response of Paul Sween, managing partner of Dominium, took Catholic Charities by surprise. Sween offered to develop the second phase of Dorothy Day Place free of charge. Perhaps to Sween’s surprise, the initial request came from the bank. “We instinctively said ‘yes’ to helping with the project when our partner U.S. Bank asked us to do so simply because we knew how important it was to them,” Sween explained in an interview with Housing Finance. “We know the great work of Catholic Charities and how critical the transformation of the property would be to their mission.” Dorothy Day Place broadens the scope of Dominium’s work. Historically, the firm develops and manages affordable housing for people who earn at or below 60 percent of the area median income. The Dorothy Day Place project serves residents with incomes below 30 percent of the area median income. Jeff Huggett, vice president and project partner at Dominium explains, “Every unit...

Become a Yardi Ambassador Jan03

Become a Yardi Ambassador

If you are a Yardi client with an affinity for the technology that has helped better your business, the new Yardi Client Ambassador Program might be a perfect fit for you. This special opportunity for engaged clients is a great opportunity to share feedback, engage on social media, speak with other clients about your tech experience and much more. It’s easy to participate and requires only the level of engagement that works for you. The Yardi Ambassador Program is a direct-to-client engagement program that identifies and engages some of our most enthusiastic, passionate, experienced and strategic clients. These clients reflect Yardi’s markets, products, services and priorities and help contribute to our reference program, marketing content creation, and speakers for Yardi’s regional and corporate events. Sean Geraghty, manager of the program, explained how it works: “The new Ambassador program evolves how Yardi plans to work with some of our most passionate and enthusiastic clients. By formalizing our customer marketing process, we are making it easier than ever to allow Yardi’s clients to interact with us on social media, participate in the creation of marketing content, and share their leadership and knowledge by speaking at our many events,” said Geraghty. In other words, we know clients love to hear about other clients’ experiences using Yardi products, and this program will help facilitate that. “We are also making it easier for us to express our gratitude and thanks to our customers by providing fun rewards and incentives to those clients who participate,” Geraghty concluded. “We want to dialogue with you. Building on our Yardi history of client relationship prioritization, we hope the Ambassador Program will lead to strong relationships and conversations in the months and years to come.” Highlights of the program for clients include: Any customer can participate, regardless of company size or length of contract. Limited engagement includes simply liking social media channels or completing a software review. More involved engagement includes marketing interviews and sharing your success with Yardi products. If you are interested in speaking at Yardi events as a client panelist, this is your chance! Select your level of involvement on our easy online signup form. Does this sound like a good fit for you? Learn more and sign up here....

Changes in the Clouds

Cloud services have changed the roles of executives. CIOs implement fewer on-premises applications. Their technical infrastructure needs have evolved within the Internet of Things. CFOs now mold their capital expenditures pitches to address operations. In the center of those changes floats the cloud, and with it, the continually evolving roles of executives. The Balance Sheet caught up with Shawn Cardner, executive VP, multifamily operations and IT, Grubb Properties, to discuss the evolution on leadership. “The real estate industry, which arguably was slower to adopt technology, now can’t escape its influence,” explains Cardner. “Almost all multi-family marketing is digital, and big data now plays a role in many firms’ daily decision-making and long-term asset strategies. Firms that wish to remain competitive must integrate the CIO role into their overarching business strategy in order to reduce costs and increase revenue.” Benefits of the cloud for CIOs and CFOs The cloud offers several benefits for CIOs and CFOs, specifically. Scalable Solutions Through the cloud, CIOs can capitalize on features and services for small and medium-sized companies that were previously available to large companies. “Being able to play in the same sandbox as the largest of our peers allows us to be competitive in spaces where we might not otherwise be able,” says Cardner. Faster Implementations Finance teams are not dependent upon IT for support. As a result, implementations are rolled out with less friction during office hours and more work can be accomplished, faster. Specialized Software Support When using Yardi Cloud Services and Yardi Voyager to manage the general ledger, for example, the IT team does not invest resources in maintaining the accounting software. Updates and security are managed off-site by Yardi. Finance owns the application but supports the business processes in a more specialized manner. Cardner adds, “It’s worth noting that different challenges exist. There are fewer technical skills required of my team with a full-service solution like Yardi.  There are, however, more nuanced soft skills and relationship skills required of us, which are sometimes difficult to find within technology circles.” Shorter Queues for IT With Cloud-based applications, there is less demand for IT to manage hardware or software. This often results in lower on-premises infrastructure costs. CFOs and their departments experience improved time to value, greater autonomy, and maintain ownership of software without being hampered by implementation or management during office hours. CIOs and their teams reduce hardware and software support, may decrease total cost of ownership, and can focus on specialized tasks. Addressing the risks Conversations about the cloud inevitably include risk management, security, and compliance. CIOs, CFOs, and COOs must collaborate proactively mitigate risks. “There is a tendency to recoil from the cloud when news of breaches occurs because of the bad press and notoriety.  I’m reminded, however, of an IT saying, ‘The cloud is just someone else’s computer.’ An open port on a firewall turns an entire network into an unwanted cloud service, so diligence and thoroughness are necessary, regardless,” explains Cardner. He continues, “Modern security technology is quite robust, whether on-premise or in the cloud.  The weak link of security in today’s age is people. Malware, ransomware, phishing and much of all data theft and loss are a result of improper employee conduct or inadequate employee training.  When vetting a new cloud provider, that’s where my focus lies.” The future of leadership The value of infrastructure continues to be an integral part of CIO responsibilities. Even with available outsourced and cloud-based solutions, CIO’s still need to consider infrastructure and its strategy fundamental to the job. Yet now more than ever before, CIOs are becoming strategists. The emphasis shifts to discerning which services an organization needs to thrive rather than focusing on infrastructure. “Traditionally, CIO’s were strictly service providers and, in many organizations, didn’t sit at the table where strategy decisions were made.  However, the proliferation of digital technology across and within organizations now mandates a level...

Senior Living Leaders...

New regulations. Rising acuity. Huge demographic shifts. There’s no doubt that senior living as an industry is changing. And it’s changing faster than many providers are ready for. But there are a few who are facing these challenges head on, ready to adapt with novel practices and new technologies. Earlier this year, Senior Housing News spoke with nine such leaders in senior living as part of a series they call the Changemakers, sponsored by Yardi. They published the interviews individually over the past few months (and we chronicled a few here on The Balance Sheet), but they’ve now compiled the highlights – along with the leaders’ accomplishments, tips and insights – in a complete ebook for your reading pleasure. Download the ebook to learn how these senior living innovators are pushing the industry forward. There’s a wealth of experience and learnings shared throughout the pages, so you don’t want to miss it. Not convinced? Here are a few great excerpts:   “[Our] program has been studied by Vanderbilt University. What we’ve learned is that, one, residents who experience mild cognitive impairment can thrive within assisted living, and also that it’s possible, as I said, to change the trajectory of the disease process. That’s a mind-bending accomplishment, particularly for a disease process that still has no medicinal cure.” – Patricia Will, Co-Founder & CEO of Belmont Village Senior Living       “We have people who have lived long lives, who have gained life experience and, hopefully, some wisdom. Now, there’s that opportunity not just to sit on the front porch in a rocking chair, but to become engaged with the world around you and to share that wisdom, to share that life experience out into the world, and to make a difference. To cement...

Baked Goodness

You ever get a warm, fuzzy feeling when you do something good for someone else? It’s not that dissimilar to the first bite of your favorite dessert made by a loved one. Both are rich with compassion, joy, and the warmth of the holidays. Yardi Atlanta introduced its first annual Bake Off, a baking competition that honors the spirit of holiday giving. It has set the tone to be a favorite for years to come. Creating The Bake Off Yardi Atlanta’s first annual Bake Off was bittersweet. In the past, the office hosted a potluck for Thanksgiving. Yardi corporate provided the ham and turkey and all additional sides and desserts were made by employees. It was a fun and much anticipated event. Yet as the Yardi Atlanta team grew, volunteer coordination of the potluck became less feasible. A fantastic local caterer saved the day. Yet devoted bakers—as well as devoted eaters of homemade goodies—sought a creative way to continue the tradition. “The Bake Off now serves three purposes,” explains volunteer coordinator Kelsey Aslani, technical account manager, consulting practices at Yardi. “The Bake Off was formed because so many of the employees here really enjoy making food to share. This helps maintain the sense of community that Thanksgiving at Yardi has always garnered. Secondly, we were able to maintain a focus on corporate social responsibility by supporting local nonprofits.” With a smile, she adds, “Lastly, everyone loves a good competition.” Baking for Good: North Fulton Community Charities Proceeds from The Bake Off benefit North Fulton Community Charities (NFCC) and Atlanta Food Bank. Yardi contributes ongoing support to NFCC , a local nonprofit that serves more than 4,000 people. Families turn to NFCC for emergency aid and enrichment programs. Through the organization, they access resources to promote...

Cancer Support Dec02

Cancer Support

Sometimes experiencing a true hardship, like a life-threatening illness, can present a way to later extend a healing hand for others. That is the story of Erica Jones, a technical account manager at Yardi’s Raleigh, North Carolina office. A breast cancer survivor, Jones is the founder of a 501c3 non-profit organization called Tickled Pink Breast Cancer Support, Inc. which provides healthy Cuisine Care Packages  for patients (men and women) who are without the support of a spouse as they battle breast cancer. That was the position that Jones found herself in when she was diagnosed with breast cancer in 2015. “It was heart stopping to hear those four words: ‘you have breast cancer.’ But going through the treatments really did something to my heart and filled me with compassion for others who were going through those same experiences. I knew I wanted to be able to help others that were on that journey as well.” Jones promised herself that once she was declared cancer free, she would start such an organization. Last year, Tickled Pink Breast Cancer Support, Inc. became a reality and Jones and her non-profit have helped a dozen patients so far, with plans to help many more in the future. Patients receive the complimentary Cuisine Care Packages weekly for up to three months during their treatment timelines. Culinary partners of the non-profit prepare the cuisine, which is full of healthy nutrition and made without preservatives or additives. It’s a much better option than reaching for frozen food or a packaged alternative. Dishes typically include protein, grains and vegetables. For those who might need it based on circumstance like low to no appetite, tender palates or mouth sores, soup and smoothies are an alternative option. Tickled Pink also provides healthy Snack Care...

Goals Achieved Nov28

Goals Achieved

Riyadh Davids joined apartment manager and Yardi client Nasser Lootah Real Estate, part of the Nasser Adbullah Lootah group of companies, in 2010. As general manager, he is responsible for all asset development and operational management, including the implementation of Yardi Voyager as the company’s property management and accounting platform. He offered perspective on his company and its relationship with Yardi from his office in Dubai, United Arab Emirates. Q: Mr. Davids, how has Nasser Lootah Real Estate grown into one of the largest diversified groups in the Middle East? A: We consistently provide innovative technologies and comprehensive know-how that benefit customers in many Gulf countries. In our 25 years of existence we have become active in travel, shipping, cargo, logistics, real estate, IT and interactive media, among other industries. Our portfolio includes more than 30 buildings across all asset categories. We aimed to provide superior professional services in every field, resulting in satisfied clients. Q: How would you describe the company’s business culture and philosophy? A: We have a heritage of hospitality and collaboration. This environment of professionalism directly translates to the advancement of our clients’ interests as well as those of our employees. Q: What’s the most critical challenges to maintaining your brand identity and market position? A: The most immediate one is avoiding complacency with our achievements and continuing to focus on building a lasting legacy. We constantly seek to create new partnerships while securing higher levels of trust from our current clients, associates and employees. Q: What were the challenges that led you to select Yardi Voyager as your real estate technology platform? A: With our company growing across multiple verticals in the UAE, we needed a way to get an overview of the portfolio at a glance and communicate...

Thrive Senior Living Nov20

Thrive Senior Living

How do you effectively track your sales activities? You got to make it fun, says Nicole Moberg, chief sales officer for Thrive Senior Living. Based in Atlanta, Thrive Senior Living operates more than a dozen communities across eight states and Washington D.C. Over the past decade, they’ve worked to redefine what senior living stands for, and they’ve dedicated themselves to building meaningful relationships with their residents. Nicole recently spoke about her team’s experience with Yardi Senior CRM. They’ve been using the solution to attract, nurture and convert leads in creative ways. Part of their approach includes a daily event they call “Party With Yardi.” Now, I know what you’re thinking. Drinks and dancing are the key to more move-ins? Not quite. For Thrive, Party With Yardi is just a fun, tongue-in-cheek moniker that lets the sales team know it’s time to sign in to Yardi and get down to business. It’s when sales team members prospect and follow-up with leads, which keeps the team on task and Senior CRM up to date. “We protect the hours of 9 a.m. to 3 p.m., and our sales team does time blocking every day,” said Nicole. “The whole community knows during those hours, you’re in Yardi following up on prospects. We even hang something up on our doors so everyone knows that is a time of no interruption.” Thrive has also developed its own creative follow-up cadence to boost numbers. “It was built by ‘those closest to the work,’ the high-performing sales team members,” said Nicole. “The team follows this and enters their info in Yardi.” Once a sales team member has keyed in what they’ve done with a lead, they’re not finished just yet. Senior CRM won’t let them move on or close out the record...

Changemaker Series Nov14

Changemaker Series

For the fifth entry in the Changemakers, the Yardi-sponsored Senior Housing News series that shines a light on senior living’s biggest movers and shakers, we’re taking a look at a leader who founded her own senior living company over three decades ago. And since then, she hasn’t stopped pushing for greater innovation and better quality of care. Lynne Katzmann started Juniper Communities in 1988 to help under-managed skilled nursing facilities, raising capital, monitoring investments and improving daily operations. In the mid-90s, the company pivoted to focus on assisted living, then a new idea in the senior housing industry. They also began to take a more direct hand in running their communities, eventually developing and building a number of their own to meet their high standards. Juniper Communities has now grown to 21 communities in four states, which represent all levels of care from independent to memory to skilled rehab. One of Katzmann’s more recent changemaking initiatives has been Connect4Life, a program that integrates care delivered by Juniper staff and by ancillary clinical providers located in the community. The program gathers essential services under one roof so residents can have faster, more convenient access to care. A key building block of Connect4Life was Juniper’s early adoption of electronic health records (EHR). “By the end of 2012, we had an integrated electronic operating model,” said Katzmann. “And that was pretty revolutionary. We’d always collected data, and we began to be able to use data to drive decisions.” From there, Katzmann was able to establish a model where each resident had their own circle of care providers, all using the EHR system to track details and communicate more effectively with each other. This helped reduce transfers to outside facilities and keep people happier. Now, Katzmann is looking...

Driving Adoption Nov12

Driving Adoption

For senior living providers, collecting payments online reduces staff workload and increases cash flow. For senior living residents and their family members, it saves time and eliminates hassle. A win-win all around. So why is it then that so few residents pay online? At Validus Senior Living, the finance team understood the value of online payments, and they knew residents and their loved ones would appreciate the convenience once they got on board. They just needed a push in the right direction first. Validus Senior Living offers residences across the spectrum of care: independent living, assisted living and memory care. They have 15 current communities throughout the Southeast, and they plan on developing two to three new properties per year. Getting their residents to pay online would streamline finances as the organization continued to grow. Validus finance staff had already offered ACH as a payment option, but adoption was low. To top it off, staff had to enter a resident or family member’s bank details manually to get them in the system, which took extra time and risked errors. So Validus turned to RENTCafé Senior Living for self-service online payments and launched a variety of initiatives to make it the popular choice for bill pay. The results were clear: They achieved an average 60% adoption rate for online payments across their communities! How’d they pull it off? Here’s what Lindsey Hacker, chief financial officer at Validus, revealed: Offer a discount to current residents Old habits are hard to change, but a simple incentive can work wonders as motivation. Validus ran a promotion for existing residents, asking them to sign up for online payments. In turn, they would get a discount on their bill. Though incentives like these may seem unaffordable for senior living providers,...

Data Driven Growth Nov08

Data Driven Growth

When you work in an industry where margins are tight, having the data to see exactly how your business is performing – and what steps you need to take – is vital. This is especially true for senior living, which currently faces one of its lowest occupancy rates in years. Greg Puklicz of 12 Oaks Senior Living knows just how essential data can be. As the company’s CFO, he’s always measuring performance across his communities and finding ways to make that data practical for his team. “I want the accounting and our reporting to be nimble and useful. If you give someone a report that is 8-10 pages long, they may not glean what’s relevant from that, which is why I identify the key metrics,” Greg said in a recent interview with Senior Housing News. “We can turn our attention to those things and chip away at the issues as soon as they arise.” Based in Dallas, 12 Oaks Senior Living provides third-party management and operation services for 16 senior living communities throughout Oklahoma and Texas. A Yardi client, the family-run organization has found a lot of success in lease-up and turnaround properties, and they’re currently looking to expand their portfolio to 25 communities over the next two years. As part of their journey to scale, 12 Oaks relies on Yardi Voyager Senior Housing for property management and accounting. The platform provides real-time performance analytics, pulling data from across the Yardi Senior Living Suite to shed light on areas across their business. Check out this excerpt from Greg’s interview with Senior Housing News to learn more about how 12 Oaks uses data to ensure they’re operating as effectively as possible: Would you say it’s true that senior living has gotten more operationally and financially...