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...

Providence Place May14

Providence Place

“You can’t manage what you don’t measure,” says Gino Gentile, VP of sales and customer service for senior living provider Providence Place of Pennsylvania. Providence Place needed integrated software to handle lead management at its five senior living properties. It became clear to Gentile that streamlining Providence Place’s operations on a centralized platform would help the company further enhance its marketing and sales performance. The solution was Yardi Senior CRM, part of the Yardi Senior Living Suite. Yardi Senior CRM enables senior living providers to increase occupancy and boost resident retention with mobile-friendly sales and marketing tools specially designed for senior living. With Yardi Senior CRM, senior living providers can enhance lead management and improve the marketing and sales process with customized dashboards and comprehensive reporting. Integration with the entire Yardi Senior Living Suite ensures data accuracy and lead tracking from initial point of contact through resident activity. According to Gentile, Providence Place has achieved substantial occupancy gains while using Yardi Senior CRM at all five of its senior living communities. Gentile elaborated that the addition of Yardi Senior CRM to the company’s Yardi Voyager platform has been a breakthrough, helping to increase sales. In addition to higher tour to close ratios and faster lead conversion, Gentile points to the software’s reminder features, customized dashboards and comprehensive reporting as essential to the company’s invigorated performance. Gentile said Yardi Senior CRM has helped the company achieve impressive occupancy gains — that have exceeded its goals — along with phenomenal sales growth. “Occupancy is up at all our communities.” Gentile added that the company’s improved resident retention is supported by the tools and solutions provided by its entire Yardi platform. Providence Place also received great implementation support from Yardi and was up and running quickly which...

Better Homes May03

Better Homes

Better Homes LLC in the United Arab Emirates takes pride in seeing things just a little sooner than almost everybody else. Linda Mahoney formed the company in 1986 after noticing the lack of professional real estate companies in Dubai, the country’s largest city.  Since then, she and her team have dedicated themselves to understanding their markets inside out, eventually growing Better Homes into the UAE’s leading real estate company.  Better Homes’ services include residential sales and leasing, commercial sales and leasing, property management, and holiday homes.  The company has offices in Oman, Jordan and Qatar in addition to branch offices across the UAE. Launched as a rental agency, Better Homes opened a sales division in 2002 that has served tens of thousands of buyers and sellers.  Another division created in 2015 organizes and promotes off-plan projects—properties without structures—in Dubai. Better Homes expanded from one woman working from a desk in a dining room to almost 500 employees staffing offices across the UAE.  It preceded the Burj Khafila, the Burj Al Arab, the Marina, and other landmarks of Dubai’s stunning real estate development.  This expansion arose from a business model that emphasized reliability, convenience, and visibility supported by a website that welcomes 24,000 page visits per day. “Every day, we look for ways to bring new and better services to our clients and maintain our market position,” says Ryan Mahoney, CEO at Better Homes.  “The key for us has always been finding places for people to live.  Our business is really quite simple: people and their homes.  We do much more than that, of course, but people and their homes will always be at the heart of what we do.” Using the latest and most advanced property management technology is one way Better Homes executes its business with the desired level of personal service.  Client service and internal efficiency were the principal factors that led Better Homes to adopt Yardi Voyager as its property management platform in 2014. “With our company growing across multiple verticals in the UAE, we needed a way to get an overview of the portfolio at one glance,” says Zubin Firozi, Director of Operations at Better Homes. “By housing financial and operational data in one place, Voyager gives us a full-business platform that covers all aspects of lease administration for every market we serve.  Voyager delivers simple and understandable reports, electronic receipts and service that’s customized to each client’s unique requirements.  Our staff spends less time on data entry and administrative tasks and more time managing our properties effectively—and finding homes for people.  From an internal standpoint, Voyager makes data easily accessible to employees and saves money by reducing our reliance on paper.” Firozi applies more than 12 years of experience, five of them with Better Homes, to helping clients buy, rent or sell property.  In his earlier role as head of property management, he oversaw an 80-member team that managed residential and commercial properties.  Previous positions in business development and leasing management provided additional skills that help him back up founder Mahoney’s assertion that Better Homes is “the Middle East’s most trustworthy and dependable property agency.” “Real estate is all about the human connection.  We constantly look for ways to offer new and better services to our clients.  As a key collaborator and one of the world’s Top 100 private cloud companies as ranked by Forbes, Yardi helps us do that,” Firozi says. Learn more about Better Homes. This article previously appeared in Arabian...

Tech Culture Shift Apr24

Tech Culture Shift

Los Angeles-based Lowe is a leading national real estate investment, development and management firm in the commercial, hospitality and residential property investment sectors. In its 46 years the company has developed, acquired or managed real estate assets across the U.S. valued at more than $28 billion. Lowe manages commercial properties for institutional clients and joint venture partners. Challenges in managing portfolio growth and demands from clients for efficient service and profitability prompted the company to adopt Yardi Voyager in March 2013 The Balance Sheet asked Cindy Pearl, Lowe’s vice president/property operations controller, for a status report. Q: How has Voyager impacted your business? Pearl: I’ll offer just a few examples of how Voyager saves time on transactional items: Cutting an entire step by reversing charges and having the zero-cash receipt automatically apply itself. Saving a day of work for my cash receipts person by doing automatic application of pre-paids. Automatically sending A/R reports to our property management teams three times a month. The ability to enter multiple charges to one tenant on one screen is brilliant. We don’t have to apply pre-paid rents to the next month because they’re auto-applied.  And we don’t have to do a zero-receipt batch for reversed charges. I love the flexibility, the analytics and how far you can drill down. Q: What aspect of Voyager stands out the most in your mind? Pearl: Its value to us goes far beyond numbers. Its effects aren’t measured just in time savings but in improved work attitudes and morale that come from eliminating multiple repetitive tasks. Voyager has produced a cultural shift by empowering our property management teams to collect receivables information and act on it on their own without help from corporate Q: You’ve been with Lowe more than 30 years.  What would you like people to know about the company? Pearl: Lowe has a strong, values-based culture that encourages people—like me—to build our careers here. Beyond that, the thing about Lowe that has always amazed me is that we’ve survived all the business down cycles. We always come out of them. I think that says something about our tenacity, our management philosophy and our adaptability. Q: Back to Voyager—what else does it do for you? Pearl: It’s an amazing amount of information that people can turn into financial sense. I can run a transaction register for one tenant on one rent charge, or a tenancy report that shows everybody in a building with a renewal clause, all in one place. We can give appraisers, lenders or brokers a snapshot rent roll, custom rent roll, abstracts and tenancy schedules without having to pull out 140-page leases. We’re no longer spending hours figuring out a renewal.  It’s like window-shopping: you can decide what you want, click a few buttons and get the report. Sometimes you almost don’t have to think for yourself anymore.  It’s almost like breathing; it just happens.  I almost can’t remember a time without Voyager. Learn more about Lowe....

Society of Women Engineers Apr09

Society of Women Engineers

Engineers are the brain and muscle behind the Yardi technology that makes property management (and property managers’ lives) easier. When Marisa Ceppi proposed the idea of presenting at the Society of Women Engineers 2018 National Conference (We’18), it was met with unbounded support from her teammates. The SWE We ’18 Conference Ceppi, Yardi Energy Account Executive, has been a member of the Society of Women Engineers (SWE) for more than a decade. She sees it as a way to encourage other young women to pursue science, technology, engineering and mathematics (STEM) career paths. “The amount of women engineers hasn’t really changed since I was an undergrad,” Ceppi observed. “It’s still a male-dominated career so one of our missions is to provide members with a network of women who are on the same path, facing similar challenges.” The annual conference hosts 14,000 attendees from across the United States. Participants receive networking and educational opportunities through events and carefully curated sessions. Conference sessions address challenges in the industry, new technology developments, as well as topics like leadership, strategic planning and work-life balance. “There is also a tremendous amount of best practice sharing between members and across the SWE organization. How can we improve? How can we make more of an impact in the communities that we live and work in?” said Ceppi. When approved, Ceppi, Annette Durnack, Christy Cannon, and Ankita Gupta, all part of the Yardi Energy Commercial Team, will lead a presentation entitled Not Your Mothers’ Air Conditioner:  IoT and the Evolving Energy Industry. “We want to bring an educational component to the conference, sharing information on how Yardi is making an impact in the artificial intelligence environment. We will discuss how AI is changing our world, not just the energy industry but other industries as well,” said Ceppi. The presentation will include details on energy’s changing landscape, real world examples from Yardi customers, and how those customers benefit from Yardi energy management tools. “Also, we will talk about how the Yardi Energy Suite uses data in different ways and different levels of complexity. We will explore how the IoT is impacting the software industry. We’re also promoting career paths within the energy industry. This is a very exciting time in the energy field! We are tackling challenging problems and we need diverse brainpower to solve these challenges.” A Decade of Service The conference is one of many ways that Ceppi engages with SWE throughout the year. She participates in the Girls Exploring Science, Technology, and Math (GESTEM) event in Denver, CO. Now in its 15th year, the event hosts 40 hands-on workshops for more than 1,000 Denver area middle school-aged girls. “SWE outreach events works with girls of all ages but targets middle school age, since that is when girls start determining what they’re good at, classes that they want to take in high school, and potential career paths,” explained Ceppi. The free GESTEM event allows attendees to participate in three workshops per day, each requiring hands-on interaction and teamwork. “We want to show these girls that STEM careers involve working with people and helping people solve problems, it’s not just about math,” said Ceppi. “The workshops cover a broad spectrum of career options like technology, building bridges, aerospace, and designing circuit boards,” Ceppi said. “We want to expose girls to STEM who might not be exposed to such career paths at home. They may not have a parent who can take them to science museums or they can’t afford it.” GESTEM is a completely volunteer-driven event. More than 15 volunteers serve on the planning committee and 400 volunteers support the day of the event. The Rocky Mountain Section of SWE not only plans and hosts the event, but also raises funds from corporate donors to cover its costs. Ceppi also serves as a judge at the FIRST Robotics competition. “I interface with kids in fourth through eighth...

Informed Investments Apr06

Informed Investments

In 14 years as a Yardi client, Fogelman Properties has adopted a variety of solutions that comprise a single connected platform for running its real estate property and investment management business. For example, automating resident insurance enrollment at its rental properties produced 100% insurance compliance.  Another solution for tracking and managing leads gave rise to more cost-effective marketing and improved employee training. Fogelman also automated its property management, accounting, resident screening and online payment processing operations. More recently, Fogelman sought to bring new clarity to its property management and real estate investment strategies. That decision prompted the company’s adoption of Yardi Matrix. Yardi Matrix compiles market and property-level research for underwriting real estate loans and investments. “We will use Yardi Matrix data about supply, demand, sales, loans, leases and other factors to identify markets we might consider investing in,” said Mark Fogelman, president of Fogelman Properties. “It will also provide data on comparable properties to help us benchmark the performance of properties we currently own against the competition. Yardi Matrix will be a major contributor to profitable investments and informed property management.” “We are proud to deliver the full capabilities of Yardi Matrix and excited to participate in another chapter of Fogelman’s 55-year history as one of the property management industry’s top companies,” said Jeff Adler, vice president of Yardi Matrix. Fogelman, founded in 1963 and based in Memphis, Tenn., is one of the largest and most experienced privately-owned multifamily investment and property management companies in the U.S. It specializes in multifamily acquisitions, property management, construction management and asset management. Fogelman presently operates 80 multifamily communities totaling 28,000 apartment homes in 10 states. Schedule a demo to learn more about how Yardi Matrix helps leading real estate investors make better decisions on property prospecting, underwriting and asset...

Emergency Backpacks

Two weeks ago, staff members from the Yardi corporate marketing and human resources departments in Santa Barbara, Calif. spent a few hours helping local non-profit organization Direct Relief assemble Emergency Medical Backpacks for first responders in disaster zones. For the marketing department the project was a peer energy team effort. Marketing colleagues assemble in small groups for regular activities like team building, socializing, friendly competitions and volunteer outings. The backpack packing effort required the coworkers to travel just a few blocks to the non-profit’s current warehouse, where backpacks and supplies were ready for assembly. (Direct Relief is currently building a new headquarters and warehouse space less than a mile from the Yardi corporate office in Goleta.) “After having a very difficult few months in our community with wildfires and the tragic debris flow, this opportunity to work together with our teams putting together medical backpacks for first responders was extremely uplifting. It felt really good that we could join together and do something that will help save lives, perhaps during another disaster like we had just experienced,” said Lexi Beausoleil, marketing campaign specialist for multifamily. Emergency Medical Backpacks include diagnostic items like a stethoscope and thermometers, infection control supplies like masks and gloves, personal protection tools like a headlamp and safety goggles, and trauma care supplies like bandages and iodine. “These Emergency Medical Backpacks are highly functional and durable, with appropriate and sufficient contents to meet critical disaster-related health needs, as well as the personal protective needs of skilled health workers providing treatment,” a Direct Relief spokesperson explained. Input from experienced emergency responders and field physicians informs the supply list. They are designed to grab-and-go for medical response volunteers or local responders able to provide on-site medical care and support during unexpected disasters or...

Life Assurance Apr03

Life Assurance

After 184 years in business, Irish life assurance company Friends First knows how to provide high-quality service and meet emerging business challenges. Established in 1834 to provide life assurance to the Society of Friends (Quakers), Friends First now offers a wide range of life protection, investment and pension products to more than 281,000 customers. It is regulated by the Central Bank of Ireland. Friends First, which has €4 billion ($4.93 billion) of assets under management as of December 2016, operates a number of complex property investment structures that split properties across different funds and receive data from multiple external sources. Seeking a New Foundation The challenge Friends First faced in 2015 was finding a single connected platform that could house financial and operational data from all of the investment structures and execute portfolio-wide accounting, management and performance reporting. The company found the solution it needed in Yardi Voyager. “Yardi Voyager is the foundation of Friends First’s interactions with property accounting, fund management, property management and external agents,” says Alan Pollard, senior investment specialist for Friends First. For example, performance reports generated from Yardi Voyager data allow the company’s property and fund managers to monitor and manage portfolio and fund performance. Automated accounting for complex split property ownerships and non-standard investment structures relieves Friends First staff of manual data entry and processing, significantly reducing risk. Another key benefit Friends First receives from Yardi Voyager is the ability to map the general ledger to another system’s account codes. “This allows us to extract the data from Yardi Voyager easily and post it to another system. It also simplifies reconciliations and audit trail tracking between systems,” Pollard says. The platform also gives Friends First new capabilities for system-based accruals, which accrue charges collected as a percentage of...

Doves for Youth

Yardi Oxnard teamed up with Casa Pacifica Centers for Children and Families to bring hope to local, at-risk youth. About the Non-Profit Casa Pacifica helps children overcome a broad spectrum of difficult circumstances, from abuse and neglect to complex emotional, behavioral, and family issues. Services are offered to more than 4,000 children from Ventura County, Santa Barbara County, Kern County, San Luis Obispo County and surrounding regions. The non-profit organization is located on a rural 24-acre campus, providing a serene getaway for recovery from severe emotional, social, behavioral, and mental health challenges. Over 90 percent of the children served by the nonprofit also have alcohol and drug issue that contributed to their placement in Casa Pacifica. Casa Pacifica youth programs include but are not limited to: Short Term Adolescent Treatment and Therapy – for anxiety disorders, trauma and PTSD, Illicit substance use, self-harm behaviors, co-occurring disorders, depressive and bi-polar disorders. Foster Care – placement for more than 1,500 children in need throughout Santa Barbara and Ventura counties. The organization provides the required 52-hour training program for parents as well as 24/7 emergency support. Casa Pacifica’s Non-Public Special Education School – a WASC accredited, diploma-granting institution for youth in grades 1 – 12 who are dealing with mental health and developmental issues. Transitional Youth Services – for young adults transitioning from Casa Pacifica services into adulthood. These vital services help young adults continue to prepare for the responsibilities of adulthood—including housing and employment assistance–beyond the care and guidance received through Casa Pacifica. Yardi + Casa Pacifica Yardi Oxnard has established a relationship with Casa Pacifica through the company’s local non-profit grant committee. “We asked for 3-5 volunteers to be a part of the non-profit committee. Employees submitted up to two non-profit organizations they would like to...

Talking Tech Mar21

Talking Tech

For every property management company, success often hinges on selecting — and keeping — quality residents. “With screening technology, we no longer lose our best applicants to the competition due to lagging on approvals or digging through paperwork, and we have reduced our vacancy rate from 13 percent to under 3 percent,” says Jason Roblin, CEO of Canadian-based Vionell Holdings Partnership (VHP). Having tools to not only ensure that operations including leasing run smoothly, but also to make its customers happy, was a big incentive for the company to put the right technology in place. Meeting the challenges of growth Now in its second year as a Yardi client, Vionell Holdings Partnership is a multifamily and condominium property management firm with operations in Brandon and Thompson, Manitoba. The company specializes in leasing, maintenance, budgeting and financial reporting services for its clients. With 1,250 multifamily and 1,500 condo units in its portfolio (along with 100,000 commercial square feet), VHP’s business continues to grow. The thriving company is adding to its Yardi software platform to achieve seamless processes across its business including better reporting and online services for customers that engage more applicants and improve resident retention. VHP uses the Yardi Voyager property management and accounting platform, Yardi Resident Screening, and RENTCafé for online marketing, leasing and resident services. Soon, the company will start using Yardi Payment Processing to accept convenient online payments that residents have come to expect for fast deposits that maximize cash flow. Using tech to make customers happy Answering applicant phone calls and processing paper applications with manual background and credit screening was time consuming and exposed VHP to missing out on its best prospects. With Yardi Resident Screening as part of its Voyager leasing workflow, VHP’s applicants are screened and qualified...

Solving Problems Mar19

Solving Problems

Yardi CSD Week is an opportunity for customer service specialists to receive recognition for their hard work, creativity, and innovation. These everyday heroes work directly with clients to solve problems and return business software to optimal operation. Peers and managers recently honored Richard Runswick with the Creative Problem Solver award. We caught up with Runswick recently to learn more about his problem solving ingenuity. Runswick has been encouraged to think critically and creatively all of his life, beginning in grade school. “My parents always encouraged me to excel in school, and I made education a priority,” he said. “I was lucky to grow up in a great school district, where I had teachers that cared about my education and pushed me to succeed.” Runswick joined Yardi after graduating from UCSB in 2012. As an adult, Runswick draws inspiration from his wife Tina Runswick, a Systems Analyst at Yardi. “Her artistic and creative nature have always left me in awe,” he said. Around the Yardi office, Runswick puts those influences to work. He and his teammates must often tackle complex tasks that require unconventional solutions. Whether working solo or as part of an interdepartmental team, Runswick enjoys the challenge. During a Genesis 2 upgrade, for example, several clients experienced intermittent errors that logged them out of the system. Runswick quickly coordinated efforts with the System Reliability Engineers, Systems Analysts, and Development to find a solution. After diving into a series of seemingly unrelated factors, the team identified the error and promptly deployed the solution to Yardi clients. James Austin, Senior Team Lead with CSD, has seen Runswick work through several challenging assignments. “There are many things that help make Richard Runswick an excellent problem solver. It isn’t enough for Richard to simply solve a problem. He also wants to know why...

Yardi ATL Prom Drive

Yardi Atlanta recently celebrated the most successful Yardi Prom Drive, supporting Foster Care Support Foundation (FCSF) in nearby Roswell, GA. About Foster Care Support Foundation Each year, approximately 8,000 children in Georgia are in need of foster care. Placement in a good home is only part of the battle. Many foster parents and relatives struggle to provide enrichment materials and experiences for the children in their care. For 17 years, FCSF had provided free clothing, infant care equipment, and developmental learning tools to thousands of foster and relative care families. The organization accepts gently used materials to offset its annual operational costs of $700,000. To date, the organization has served more than 50,000 children through its services. Yardi Atlanta + FCSF Yardi formed a relationship with FCSF through the local grant committee. Committee members Shana Winbush and Marilyn Duffield proposed the idea of supporting foster families. The timeliness of FCSF Prom Drive was a perfect fit. Yardi hosted this year’s Prom Drive Boutique in honor of FCSF. Committee member Keiya Huguley helped to coordinate the event. “Many foster families don’t have $200-$500 to pay for the tux, suit, dress, shoes, accessories, make-up, hair, nails, and everything that goes into attending a prom. Prom Drives give foster children a better chance of living a life close as possible to ‘normal,’ despite circumstances. These types of drives are helping families financially and impacting them emotionally,” observes Huguley. To raise awareness for the clothing drive, the committee started a prom photo contest that selected daily winners for a week. Employees submitted their prom photos to enter the daily drawing. Daily winners received entry into the final drawing where they were eligible to become Yardi Prom King and Queen. But before announcing the winners, the team created a...

Connections at YASC Mar06

Connections at YASC

The next Yardi Advanced Solutions Conference is coming to Washington, D.C., kicking off on May 30, 2018. YASC brings together more than 1,500 professionals from nearly every property and financial management industry for instruction, comradery, and insight into the future of technology. At last year’s YASC, we sat down with Rachel Brown, Section 8 manager for the Fort Smith, Arkansas Housing Authority (FSHA). Rachel has witnessed exciting growth during her nearly 15 years with FSHA, growth that includes personal experiences, organizational development, as well as the growth of clients she serves. Here’s a recap of our conversation last spring. Welcome to YASC! Tell us a little about yourself and your organization. Our mission is to develop, rehabilitate and manage decent, safe and sanitary affordable housing. We promote equal opportunity, fair housing initiatives and the deconcentration of race and poverty. I’ve been with FSHA for nearly 15 years, and we’ve really grown over that time. When I first started as a housing specialist, we had around 450 Public Housing units and less than 1,200 vouchers. Today, we have more than 1,600 vouchers under our management, transitioned 288 public housing units through the RAD program, and replaced 170 public housing units with the help of Low-Income Housing Tax Credits.  Our current development efforts include Low-Income Housing Tax Credit units, rehabbing dilapidated housing for sale to low- and moderate-income families, and exploring ways to provide everyone with the affordable housing that meets their needs. What do you find most rewarding about your career thus far? Seeing people’s lives transition and change for the better, those are the real ‘wow’ moments. Clients come into our program in many personal situations. Some are single parents, others are going to school or raising a family. It’s inspiring when they enter our...

Pricing that Wins Mar06

Pricing that Wins

Finding the “sweet spot” for pricing new and renewal leases may not be easy, but it is critical to optimize net rental income and move ahead of the competition. For property managers and executives hunting down data and compiling paper spreadsheets, finding that sweet spot can be difficult and time consuming. And with other important management tasks to attend to, doing it on a daily basis can be nearly impossible. That’s why California-based DEELS Properties ditched the paper and adopted Yardi RENTmaximizer for adaptive, dynamic revenue management built into its Yardi Voyager property management platform. As a result, DEELS has transformed its pricing methodology to achieve significant rental income gains for its apartment communities in Los Angeles. Part of the Yardi Multifamily Suite, RENTmaximizer utilizes proven rental pricing technology that leverages property history and market comparisons to generate rents that maximize rental income and occupancy. The process is transparent to the property manager so they can easily understand what factors are influencing pricing. Saying Goodbye to the Paper Chase Before RENTmaximizer, DEELS used paper spreadsheets, market surveys and traffic reports to set rents. And because it took so much time to compile the data, DEELS only adjusted rental prices once per month. “The process was cumbersome and not as adaptive as we wanted it to be. RENTmaximizer has helped increase our revenues for both new and renewal leases. No more wasted hours creating complicated spreadsheets,” said Noam Hameiri, senior vice president of operations for DEELS. RENTmaximizer leverages DEELS’ property data in Voyager to drive revenue with clear, comprehensive metrics focusing on rental income, concessions, occupancy and rental rates — not just pricing. The system’s open calculation method, along with integrated market data and accurate analytics, helps DEELS make smart and effective pricing decisions across...

Growing with Yardi Mar01

Growing with Yardi

When Charles Hunt decided to strike out on his own and start a boutique property management firm in Melbourne, Australia, he knew that one of the factors that would make or break the new business was the technology platform he chose. “CHP Management was born out of the need to provide boutique, high quality add-value service to our clients. We only do property management, and we specialise in bringing back professional service to property management and the real estate industry,” says Hunt, the founder and director of CHP Management, which opened in 2014. The company focuses on privately held retail shopping centres, industrial properties and office buildings. Coming from a major multi-national firm where he had worked for 8 years, Hunt saw that commercial real estate clients were often disappointed or frustrated without the support of personalised customer service. At the same time, they required a robust technology platform that would handle much of the back office work. “We had to make sure that the ‘exact science’ part of our role was done well, accurately and efficiently. That’s what Yardi does for us,” Hunt says. His vision has been recognised –  In 2010 and 2015 he was awarded the honour of REIV Commercial Property Manager of the Year and in 2016 he was a finalist for National REIA Commercial Property Manager of the Year. Four years after Hunt signed his first Yardi contract, he can definitively say that he made a smart choice by choosing the Yardi Commercial Suite. The rapid growth of his company, while maintaining a lean staff size, is proof. CHP Management now has in excess of 100 properties under management after starting with just one. Despite that influx, just one staff member can handle the admin and accounting platform for...

Investment Insight Feb28

Investment Insight

Investment capital isn’t in short supply—plenty is available from China, Europe, the U.S. and other sources. So why are real estate investors working harder, yet finding fewer high-return opportunities? One dampening factor is increased investor choosiness arising from due diligence activities that increased starting in 2009, when a low market virtually guaranteed returns and asset prices would rise. Plus, the regulatory climate has thickened. But the main problem today is that the marketplace, especially the U.S. with its abundance of capital, is chasing relatively few investment opportunities. Can fund managers under pressure to place money they’ve raised find, evaluate and capitalize on good deals? Yes, says Rob Teel, Yardi’s senior vice president of global solutions—if they have the means and ability to unearth opportunities they ordinarily wouldn’t consider, or even know about.  We asked Teel for insight into how technology can be an ally in the effort to identify investment opportunities and manage assets through their life cycle. Q: What’s a key trend among the real estate property owners, managers and investors you encounter? Teel: A lot of people are seeing the advantage of automating investment accounting, performance measurement and investor reporting with an integrated investment and asset management system. They realize that having all decision-making tools within a single system exceeds what’s possible with spreadsheets and separate databases. Managers dealing with hundreds of combined funds, entities, properties and investors are happy to be free of manually uploading data, relying on cumbersome spreadsheets and mining data from separate systems. Q: What matters the most to investment managers as they evaluate potential acquisitions? Teel: Getting a complete picture that helps them decide to acquire an asset and the best option and optimal time for renovating or selling it. This underscores the importance of automating the...

Disaster Recovery

As California’s Central Coast continues to heal after the recent natural disasters, we are thankful for the many volunteers and community agencies who have stepped up to lend a helping hand through events, fundraisers, donations and volunteerism. Yardi employees and executives have recently contributed to the efforts to dig out Montecito homes that suffered mud and flooding damage in the early January slide. Recovery and restoration efforts are ongoing, and volunteer opportunities are available each weekend. A big thank you to the Thomas Fire Benefit Festival, Habitat for Humanity of Southern Santa Barbara County, Santa Barbara Bucket Brigade, Foodbank SB, and our many employees for supporting the disaster relief efforts. Learn more and get involved at the links below. Habitat for Humanity of Southern Santa Barbara County: https://www.sbhabitat.org/disaster-response Donations and volunteer hours are needed to assist with the Habitat for Humanity recovery campaign. Weekdays and weekend volunteer hours are available. Santa Barbara Bucket Brigade: www.santabarbarabucketbrigade.org Weekend meetups are available for those who would like to contribute sweat equity to those digging out their homes and properties. Foodbank SB: www.foodbanksbc.org The Foodbank assisted with food distribution during the evacuation period, and volunteer opportunities are always available to help with processing donations and other tasks. Thomas Fire Benefit Festival: www.thomasfirebenefit.com Yardi sponsored the Thomas Fire Benefit Festival in Ventura on February 3 at Plaza Park. 100% of proceeds from the Thomas Fire Benefit Festival will be put toward recovery from the devastating Thomas...

Pangea Cares

When Pangea Properties first formed in 2008, the Chicago-based company established a mission to implement “service, value, and care–one resident at a time.” Since then, the REIT has transformed communities throughout Chicago, Indianapolis, and Baltimore with quality affordable housing and service programs. Chanelle Cromwell, Head of Pangea Cares, has witnessed the difference that the Pangea Cares foundation makes in communities. “We don’t just invest in buildings, we invest in the success of our communities,” says Cromwell. “Pangea is very data-centric and we use data as the engine in our decision-making process.” Data has encouraged the firm to pursue success for its communities in three sectors. Education + Technology “We provide access to education and technology to youth that helps bridge the divide that exists for many kids living in the neighborhoods that Pangea serves,” explains Cromwell. One such program is the annual Backpack Giveaway, a partnership with the Chicago Housing Authority (CHA). Pangea Cares raises the funds to buy school supplies. The organization then coordinates with CHA to purchase and assemble more than 400 backpacks. Kids ages 5-12 received backpacks stuffed with essential school supplies to help them start the year with confidence and the proper tools. This year will mark the sixth year of the Backpack Giveaway program. A newer addition to the Education and Technology program is B’more, Read More. Baltimore Walbrook Junction neighborhood, home to more than 150 kids, hosts a free library for the public. The tiny library was in need new literature for its shelves. “Pangea donated 30 books to the library, providing a fresh wealth of informative and imaginative literature for local kids,” says Cromwell. Health + Wellness Pangea Cares focuses on the health and wellness of residents by making fresh food and recreational activities available to their communities. The team has gotten quite creative in finding ways to serve members of the community. Pangea Cares collaborated with Julie Hightower of a Better Day with Julie, The Daisie Foundation and many other organizations to give moms in Chicago a free makeover. “More than 150 mothers were invited to the event, which boosted their confidence, provided much-needed networking opportunities, and provided a respite from their daily routines,” Cromwell says. For youth, the company’s Indianapolis properties hosted an ongoing summer event that provided nutritious lunches daily for children of low-income families. The kids had lunch and a movie matinee, meeting their need for nutritious nourishment and activities over the summer months. “Overall, the teams were able to provide lunches for hundreds of children!” Cromwell said. Pangea Cares partnered again with CHA and Operation Warm to ensure CHA youth were warm, healthy and ready to learn during the cooler months. The organizations distributed more than 10,000 winter coats to local youth in need. Dignity + Beautification Pangea Cares believes that a beautiful and safe neighborhood brings communities together. “We are committed to community beautification and striving to make areas we serve ones that residents and communities can be proud of,” says Cromwell. Such efforts include frequent Habitat for Humanity builds in Chicago and Indianapolis. Pangea Cares has also taken on a Play More B’more playground build project. The local non-profit works with other organizations to construct fun and accessible playgrounds in marginalized communities. “They put in some serious manpower to build a brand new playground for the children of the community,” says Cromwell. Show love for your local Pangea community by contacting the organization to volunteer or make a donation. To learn more about how other Yardi clients are Energized for Good, check out our Giving...

Paperless Perks Feb08

Paperless Perks

Are you feeling energized for 2018? It’s a new year, bringing fresh challenges and opportunities. And while every January can inspire a list of resolutions, for every real estate business one goal is likely to top the list year after year: reduce costs. When it comes to lowering operational expenses, going paperless for as many tasks as possible is smart. And here’s some great news: it’s easier to do than you might think, and the benefits are big. For Dallas-based apartment manager LumaCorp, centralizing and automating procurement and payables processing on its mobile Yardi property management platform using Yardi Procure to Pay has not only reduced costs for the company, but also saves its staff valuable time (in addition to sparing more than a few trees). And in just three months, by eliminating the cost of transporting invoices by courier, Procure to Pay paid for itself. Better Buying and Bigger Discounts LumaCorp manages 24 apartment communities with more than 6,000 units. According to Larry Orth, LumaCorp’s controller, the company’s maintenance, repair and operating supply costs fell by 4 percent the first year after adopting Yardi Procure to Pay, an end-to-end, paperless procurement and invoice processing system that’s part of the Yardi Multifamily Suite full-business platform. Orth said, “For me, the great thing about it is the time efficiency, both at the properties and in the accounting department. We are a full service Procure to Pay client, so the processing is handled by Yardi, which takes a lot off our onsite people’s hands. All told, Procure to Pay has reduced by up to 40 percent the time our team spends on the payables process. And it’s a paperless system, which obviously also benefits the environment.” LumaCorp has also gained savings from the negotiated pricing across...

Giving by Gaming Feb06

Giving by Gaming

Yardi Saskatoon participated in the Extra Life game day, a playtime marathon to support Children’s Miracle Network Hospitals. Jim Pattison Children’s Hospital was the local beneficiary of the event. Extra Life  started back in 2008 with a handful of passionate gamers. Since then, the community has grown to more than 100,000 participants. To date, Extra Life has raised more than $40 million for children facing illness and major injuries. The Concept Ideally, Extra Life is a gaming marathon that lasts for 24 consecutive hours. While there is an official Game Day (often early November) gamers are able to contribute whenever their schedules allow. They’re also encouraged to take breaks and spread out the 24 hours as needed. Gamers can choose from a variety of game styles, from PS4 to card games and even hop scotch. It’s an entirely flexible fundraising platform that allows players to customize the experience based on the interests and expertise of those involved. Fundraising milestone are also customizable. Coordinators recommend a minimum of $100, but players are encouraged to select an amount that is personal. For example, Extra Life founder Jeromy Adams set his 2011 goal at $5,415. That odd number represents $5 for each day that his friend Tori spent fighting leukemia before she succumbed to the illness. Passionate participants begin by receiving achievement badges, milestones in raising awareness and rallying support. For every year of participation, gamers receive Legacy Badges that distinguish them from newbies in the field. Power Ups are the participants’ ultimate in-game reward! Each year, coordinators collaborate with partners to offer “gaming goodies.” These can range from discounts to expansion packs and merchandise. Platinum players receive Extra Life memorabilia such as t-shirts, medals, and exclusive prizes. The Event The event was held on-site on the...