Your Next Property Manager Oct29

Your Next Property Manager

Do you feel like you’re always hiring? You’re not alone. Multifamily property management turnover ranges from 21-54 percent. While there are many variables, you may experience low staff retention when prospective new hires lack necessary personality traits for the job. The requirements of today are different than even a five years ago. Modern property managers must possess these three characteristics to help you reduce turnover and improve resident satisfaction. 3 Traits of a Long Lasting Property Manager Teachable Experience can be a double-edged sword. A prospect with several years of experience may have difficulties adapting to the expectations of a new brand or new community.  Rookies may have difficulty adjusting their textbook knowledge to meet real-world applications. Experience is less of an indicator of success than teachability. A teachable prospect will be receptive to learning new skills, flexible in the face of change, and dedicated to optimal outcomes. Tech Savvy Today’s property managers must be comfortable with technology. Daily interaction with property management software improves the efficiencies of accounting and leasing. The same holds true for basic marketing, maintenance, and smart home applications. An ideal candidate will be comfortable familiarizing themselves with the latest prop tech and supporting the organization with technology that drives efficiency and value. Responsive The internet never sleeps nor does a modern business. A property manager must be willing to promptly address issues (especially troublesome online reviews) and respond to community needs. Responsiveness is a leading indicator in resident satisfaction. We aren’t suggesting that your property manager sleep under the desk. Employees perform best with a work-life balance, but on-the-job responsiveness is key to success. Which characteristic is most important? In a perfect world, prospects would possess all the traits above. But what happens if tops prospects are lacking in one of the key areas? If one trait is most important, it would likely be teachability. A receptive, flexible, and dedicated employee can help your organization thrive. What personality trait have you found to be the most important in a successful property manager? Share your thoughts with us on...

Tough Times Ahead? Oct28

Tough Times Ahead?

New deliveries continue to tamp down street rates in almost all U.S. self storage markets. Ground-up projects in secondary markets plus conversions and expansions in highly regulated markets are elevating supply levels, putting the industry through a “rough slog” for the foreseeable future, according to a new report from Yardi® Matrix. In September 2019, street rates decreased in about 85% of the top markets tracked by Yardi Matrix compared to September 2018. Year-over-year street rates slipped by 2.5% for standard 10×10 non-climate-controlled units, with similar-size climate-controlled units falling even more sharply (3.7%). “Deliveries are expected to remain elevated, pushing down pricing for many operators and increasing the need for improved performance through tightened operating costs and better efficiency,” says the report, which is based on a data set of more than 27,500 completed and developing self storage properties. Nationwide, self storage properties under construction or in the planning stages accounted for 9.4% of the total stock in September, a 10-basis-point increase over the previous month. Such properties accounted for over 20% of total stock in Nashville, Tenn., and Portland, Ore., with Seattle not far behind. Which three metros had positive annual street rate performance in September? Where were the highest and lowest asking rates? Why is development booming in New York City? Get these answers, and much more, in the self storage supply and rate recap for October 2019, which is available for...

A Lifestyle Experience Oct28

A Lifestyle Experience

Meet Chris Armstrong, director of brand, product and technology at Get Living, an innovative build-to-rent operater in the UK that prides itself on delivering unforgettable resident experiences. We recently had the chance to sit down with Armstrong and learn more about how the company is challenging and changing the renting experience. “We are all about innovating the resident experience at Get Living. We were the first to scrap deposits back in 2017 and we’ve never charged fees. It’s something that our residents value – it not only builds trust but affirms our role as an innovator within the sector,” said Armstrong. “Our focus is purely on the customer experience; from first enquiry to move in, right through the tenancy and when resident’s leave us.  We continue to challenge ourselves to meet our residents growing expectations of us to deliver a simpler, better and more rewarding renting experience,” he explained. Read on to learn more about Armstrong’s perspective on resident experiences and how they will transform the marketplace.   Q: So it’s all about the experience – How does Get Living deliver it? Armstrong: Residents are attracted to our quality homes and our quality service. Since launching in 2013 we’ve continued to challenge the norms of renting and evolve our offer finding more ways to take the hassle out of renting. Yardi RENTCafé has helped us achieve that with both new customers and existing residents. The property websites and the online functionality from Yardi enables us to deliver a great online presence. We can display available units as well as showcase each neighbourhood’s amenities all within the Get Living brand platform. Prospects can complete the entire application process online, enabling us to onboard residents quickly and easily. Our leasing cycle has greatly reduced since introducing Yardi – where renewals would have taken 3-5 days, our relationship managers can turn these around in under an hour. For our marketing team, the increase of web traffic is a major goal, as is nudge marketing and social engagement. It means we are fully maximising marketing ROI, and seamlessly bringing the resident a great experience.   Q: It looks like Yardi technology impacts not just your business operations, but the residents life too – how important is technology to their journey with you? Armstrong: Email is dying, our residents rarely use it – in fact we rarely use it on the operational side now either – we are moving to an app-based business. With Yardi’s new white label resident app MyCafé by RENTCafé, we are able to completely brand the renter experience in the Get Living style. We encourage our residents to use the resident app, and we provide a user guide and training for each new resident to further communicate its value and benefits. The app is a far more effective way of communicating with our resident demographic. It also delivers far greater efficiency and mobility for our team, allowing them to be fully focussed on residents’ needs. The app delivers full resident on-boarding which includes inspections. Payments can also be executed via PayPal – all on the app. Residents love that.   Q: What other benefits does the app give your residents? Armstrong: We can further enhance the resident experience by utilising the maintenance functionality within the app to report and raise maintenance requests. This has not only meant faster response times and a focus on visibility of progress; we have seen the maintenance technicians become advocates for using the app; we’ve removed the use of paper from the entire process; and residents get complete visibility of the progress of a request. We can build a far greater sense of community with the promotion and RSVP for exclusive resident events and that drives the lifestyle experience our communities. At that point the technology and the resident experience really comes together. Technology is key to making these successful. Q: How does the use...

Make Energy Efficiency Fun Oct25

Make Energy Efficiency Fun...

Commercial building owners and managers, especially those equipped with the Yardi Pulse Suite, can lead the way in optimizing energy consumption. But with tenants accounting for as much as 80% of the energy used in office buildings, energy efficiency requires nothing less than a full team effort. ENERGY STAR® suggests making the quest for energy efficiency collaborative, stimulating, rewarding and—last but certainly not least—fun for tenants. Advice in the program’s “8 Great Strategies to Engage Tenants on Energy Efficiency” guidebook from 2016 includes: Be transparent and open with timely information. That includes sharing energy efficiency goals, building energy use data and ENERGY STAR scores. Vornado Realty Trust, for example, launched an energy information portal that enables submetered tenants to access their energy usage profile and data. JLL publishes an annual building environmental report while Wells Real Estate displays ENERGY STAR scorecards that report progress toward sustainability goals. Leverage the ENERGY STAR brand, which the U.S. Environmental Protection Agency says is recognized by 80% of Americans. The program’s resources include tip sheets, interactive tools and other guidance for inspiring tenants to provide energy consumption information. Beacon Capital Partners Inc. and Cushman & Wakefield are among the property managers that apply ENERGY STAR branding to its posters and other materials. ENERGY STAR also offers opportunities for positive visibility through certifications, competitions and other recognition. Educate tenants on their energy use and impacts and help them identify opportunities for improvement. Examples among industry leaders include CBRE, which sends letters rich with energy-saving tips; Beacon Capital, which hosts a plug load educational program; and Liberty Property Trust, which created a green guide web portal. Meanwhile, Cushman & Wakefield offers tenants a green office tool kit, Bentall Kennedy distributes a sustainable tenant improvement manual and JLL sponsors a “go...

Resident Retention Oct25

Resident Retention

Want to know how to score more lease renewals? Part of your branding, resident culture, is key in transforming residents into long-term community members. The tips below will help you highlight resident culture as an asset. What is resident culture? Resident culture is part of your multifamily branding efforts. Branding is a broad umbrella that applies to your marketing, company identity, and employee profiles. Culture is the aerial view of each communities’ values, customs, and interests. Each community within a large portfolio may have a unique culture. Concepts within community culture align with the renter profile for each location. Resident culture in action Perhaps many renters at a property are young professionals employed by local tech companies. You may choose to highlight tech integration into that culture: use submetering and home automation to improve utility efficiency, organize community outings to local tech events, or host movie nights featuring “geek” protagonists. Perhaps pet-owners drive revenue in your community.  *Post scheduled.* You can integrate pet care into your culture by hosting several pet-friendly events throughout the year. Consider field days with pet competitions or select days where dogs are welcomed at the pool. You can also invite pet specialists onto your property, like photographers and trainers, and negotiate discounted rates for residents. The concepts that represent your residents’ values, customs, and interests form the foundations of your culture. Articulate your culture when residents first arrive and throughout their stay to promote a higher lease renewal rate. Warm welcome, long stay Host Events for New Residents At least every quarter, host an event for new residents. This provides them with an opportunity to shake off the new kid jitters and forge friendships. Strong friendships promote resident retention. Make Yourself Available Let residents know that your team is...

NYC Climate Law Oct24

NYC Climate Law

New York City’s Local Law 97, part of a package of legislation comprising the Climate Mobilization Act, was enacted in May. It’s designed to drastically reduce carbon emissions by imposing stringent carbon emission limits for most commercial properties over 25,000 square feet. Impacting more than 57,000 buildings and aiming to reduce carbon emissions 80% by 2050, the statute stands as “the most ambitious climate legislation for buildings enacted by any city in the world,” according to The Urban Green Council, a New York-based sustainability advocacy group. The law’s emissions calculations consider the total building load, not just base building energy usage. With tenants accounting for well over 50% of usage in many buildings, that means property owners should “carefully vet their business plans and be sure they are planning for this environment, since it represents a significant change for both owners and their tenants,” said James Nelson and Terri Gumula of commercial real estate company Avison Young, writing in Real Estate Weekly. Estimates of what city landlords will spend to comply with Local Law 97 run to $20 billion and up. With the first compliance period starting in 2024, that group is on the clock. Webinar offers resources Yardi energy experts Brian Fridkin and Maria Solobay recently presented a webinar hosted by Commercial Property Executive to give property managers tips on easing the transition to Local Law 97. A representative from the New York State Energy Research and Development Authority (NYSERDA), a public benefit corporation that promotes energy efficiency and renewable energy sources, also spoke about programs already in place in the state. The presenters listed prescriptive conservation measures required by the new law including adjusting temperature set points, repairing heating system leaks, insulating pipes and installing timers on exhaust fans. Additional steps supporting compliance include embedding efficiency requirements in future leases, upgrading lighting and lighting sensors in tenant spaces, and friendly energy-saving competitions. However, Fridkin pointed out, “For many buildings, just completing the required measures won’t be enough to meet the emissions limits in the law.” Owners will also need to invest in optimizing heating, ventilation and air conditioning systems, fault detection and diagnostics, and metering equipment. Solar or wind generation installations are other options. “You can have discussions with tenants about upgrading their lighting or installing occupancy sensors in their spaces, which would reduce their monthly energy bill as well as move toward complying with the law. And you can have tenant energy competitions to see who can reduce their emissions the most. You might also work on switching out tenant HVAC units for more efficient ones or tying in a tenant’s HVAC to the building’s system,” Fridkin said. A key first step toward compliance is implementing real-time energy management (RTEM) to collect live and historical building performance data. This data helps building owners optimize the building’s energy consumption (ultimately reducing greenhouse gas emissions) and prove how the property is performing. RTEM systems can help improve ENERGY STAR® scores, a key consideration because the building types covered under Local Law 97 are already required to complete ENERGY STAR benchmarking every year under another law. Learn how Yardi technology and NYSERDA incentives support building managers who seek to leverage RTEM. Yardi is an approved vendor for NYSERDA’s RTEM program and an ENERGY STAR Partner of the...

Energy’s Future Oct23

Energy’s Future

What’s the future of worldwide energy consumption? A recently published study of international energy markets through 2050 offers some clues. The U.S. Energy Information Administration (EIA), the U.S. Department of Energy’s statistical and analytical agency, conducts annual long-term assessments of world energy markets. The EIA characterizes its compilation of current trends and relationships among supply, demand and prices in the future as “a reasonable baseline case to compare with cases that include alternative assumptions about economic drivers, policy changes or other determinants of the energy system.” Here are some projections from International Energy Outlook 2019: Global consumption World energy consumption will grow nearly 50% between 2018 and 2050, with most of this expansion coming from regions where strong economic performance is driving energy consumption. Asia represents the largest and fastest-growing region for energy consumption. The shift of manufacturing centers to Africa and South Asia, especially India, will spur energy consumption. The industrial sector, including mining, manufacturing, agriculture and construction, will account for more than 50% of global end-use energy consumption between 2018 and 2050. Buildings’ share of the world’s delivered energy consumption will increase from about 20% in 2018 to 22% in 2050. Renewable energy Renewables (including hydropower) will be the fastest-growing source of electricity generation until 2050, rising by an average of 3.6% per year. Wind and solar will account for over 70% of total renewables generation by 2050. Electricity generation from wind and solar sources will represent renewable energy sources’ biggest increases until 2050, reaching 6.7 trillion and 8.3 trillion kilowatt-hours (kWh), respectively, as these technologies become more cost competitive and receive support from government policies in many countries. Worldwide renewable energy consumption will increase 3% per year to 2050. Nuclear consumption will increase 1% per year. Hydropower’s share of renewables generation will fall from 62% in 2018 to 28% in 2050 because resource availability in Organization of Economic Cooperation and Development (OECD) countries and widespread environmental concerns limit the number of new mid- and large-scale projects. (OECD is a 36-member group of countries with market economies.) Electricity Electricity generation will increase 79% until 2050, with consumption increasing in all end-use sectors. On average, consumption of electricity in more-developed OECD economies and developing non-OECD economies will grow 1% annually until 2050, while non-OECD consumption will grow 2.3% annually. Electricity will remain the main source of marketed energy consumption in the residential sector. Its use will grow by 2.5% per year globally as rising populations and standards of living in non-OECD countries increase demand for appliances and personal equipment. The transportation sector will consume more electricity as more plug-in electric vehicles enter the fleet and as electricity use for rail expands. Petroleum and other liquid fuels will remain the principal transportation fuel, however. Petroleum and liquids As a share of primary energy consumption, petroleum and other liquids will decline from 32% in 2018 to 27% in 2050. On an absolute basis, liquids consumption will increase in the industrial, commercial and transportation sectors and decline in the residential and electric power sectors. Residential natural gas consumption will grow by 0.7% per year, influenced by increasing use of the fuel for heating. Read the full International Energy Outlook 2019 report. Learn how Yardi technology contributes to energy conservation and sustainability...

Senior Wellness Oct22

Senior Wellness

Socialization is a significant part of senior wellness. By getting the members of the neighborhood involved in activities at your community, you’re offering healthful, value-add services for your seniors that truly make a difference! Below are a few suggestions on how you can improve social opportunities with community support. Animal shelter collaborations are a fun way to expose seniors to the joys of pets without the daily responsibilities of pet ownership. Seniors are able to play with and cuddle their new furry friends, reaping the health benefits of pet interactions. Girl and Boy Scouts projects offer seniors the opportunity to teach and learn from local youth. Contact your local chapters regarding projects such as building raised garden beds, installing rainwater recycling systems, or beautification projects. When seniors have experience in these areas, they are able to feel helpful and knowledgeable. When the experiences are new, senior learners stimulate their brains and feel the invigoration of developing new skills. Student-led tech classes equip seniors with the basic skills needed to stay in touch with the world beyond their senior community. Navigating Zoom and Facetime, for example, allow seniors to stay in touch with loved ones. Computer skills classes make it easier for seniors to take charge of their care curriculum. For today’s students, these skills are second hand and a fun way to get the community service hours they may need for school. Trips to a local ranch for equine therapy come with several advantages: a scenic trip to rural area, the benefits of equine therapy, and the pleasure of artwork and animal interaction. Don’t worry—equine therapy does not mean your seniors must mount the horses! Ask camp leaders if it’s appropriate for seniors to interact with current class members. Serving as a dance recital...

Paint the Town Pink

The AVE motto is live better, and the team there is truly committed to delivering the best living experience possible for their residents. Apartment floor plans are designed for comfort, amenities and services are programmed for convenience and wellness, and events and initiatives are offered for community engagement. Their latest campaign “AVE Goes Pink” partners up with Susan G. Komen Philadelphia® to support its mission to reduce the number of late-stage breast cancer diagnoses in the Philadelphia Area while continuing to provide education, resources, and access to services to those who are battling the disease. AVE Goes Pink “AVE Goes Pink” (link to www.aveliving.com/pink) launched October 1st to support Susan G. Komen Philadelphia®, a respected voice in breast cancer education. “We turned all our logos on our social media channels pink to raise awareness for the cause and to let those who are currently fighting breast cancer know our thoughts are with them,” says Lea Anne Welsh, COO of Korman Communities and president of its AVE brand. “Our teams at the properties will also be wearing pink throughout the month.” “Typically, we wear black or dark grey. When a resident sees me in pink, they ask and it starts up a conversation about breast cancer awareness,” says Lauren Brauer, Leasing Manager, AVE King of Prussia. She continues, “Breast cancer awareness really hits home for me. Having had family members and friends go through the struggles of breast cancer, I want to do all I can to support them, as well as all others who have gone through it and are currently battling it.” Lights for the Fight Much of the Philadelphia skyline is getting involved. Susan G. Komen Philadelphia® and CBS 3 manage “Lights for the Fight.” The duo coordinates with city landmarks to...

YASC Asia 2019 Oct20

YASC Asia 2019

The Yardi Advanced Solutions Conference (YASC) returns to Singapore on Nov. 5 and will be bigger and better than ever. Yardi brings together real estate management professionals from across Asia for this one-day event. Come and discover the latest proptech innovations, interactive discussions, meet local and international experts, and network with industry peers. This a great chance to dive deep into Yardi Voyager and the ancillary software real estate professionals use every day. YASC is also a great opportunity to strengthen collaborative skills and network with industry peers. With interactive discussions, local and international experts, more networking time, and previews of new products and enhancements, this is an event not to miss. YASC Singapore is a fantastic opportunity for Yardi clients with portfolio presence in Asia to discuss technology platforms with the leadership, development and support teams. Reserve your spot today! Here’s what to expect at YASC Asia 2019: • Meet the Experts Attendees will hear from industry experts on market trends and technology innovations. Make valuable connections with Yardi’s product experts and discover new insights, tips and tricks for getting the most out of Voyager and other modules. With enhancements and innovations in the Yardi pipeline, hear about new products soon to be released in Asia. You’ll also get a firsthand preview of the new Yardi Elevate Suite for asset management. • Visit Knowledge Central New to YASC Asia, gain hands-on experience with Yardi’s Knowledge Central, which will offer on-site assistance with Yardi products, SQL scripting and reporting. The Knowledge Central team will be available to answer your product-specific questions, provide previews of new products, discuss current software and anything else you’re keen to learn more about. For Knowledge Central hours, refer to the in-app schedule. • Yardi Events App A new addition...

Tech Leadership Oct18

Tech Leadership

A survey of property owners, operators, real estate investment trust and developers conducted by KPMG LLP confirms Yardi’s leadership as a real estate technology provider. KPMG, a global professional services firm, reported that: Forty-four percent of survey respondents claim Yardi as their property accounting general ledger system provider. The next most popular provider is cited by 11%. “Respondents said they based their choice … on user friendliness, reporting capability, and cost effectiveness. Similar results were found for fund accounting general ledger systems,” KPMG notes. Thirty-two percent employ Yardi for asset and transaction management. Thirty-three percent use Yardi for leasing software. Asked about their approach to investing in property management technology, 79% of respondents said they prefer partnering with a technology vendor. Many organizations noted that “improved decision-making is most valued, followed by the ability to lower operating costs, and improve customer engagement.” The cloud is the preferred system for hosting property accounting general ledger systems for 52% of respondents, with 21% favoring internally hosted onsite systems, 16% outsourcing the function and 11% selecting “other.” Real estate companies’ technology investment priorities over the next 18 months are, in descending order, investor reporting, cybersecurity, asset management, leasing, tax reporting and fund accounting GL systems. KPMG’s analysis of the survey results also offers clues to opportunities for real estate solution providers. “Unlike other industry-leading organizations, many real estate companies are behind the curve when it comes to taking full advantage of new technologies, like data and analytics and artificial intelligence,” KPMG says, adding that continuing to rely on spreadsheet applications for critical financial tasks “can open them up to significant risks.” Learn about industry-leading Yardi solutions for property management, asset management and investment management. View the complete KPMG survey...

ENERGY STAR Day

Tuesday, Oct. 22, 2019, is ENERGY STAR Day, described by the U.S. Environmental Protection Agency as “a celebration of energy efficiency” and a means to raise awareness of the benefits of favoring products and properties with ENERGY STAR® certification. And there’s a lot to celebrate. On average, ENERGY STAR-certified buildings use 35% less energy than typical buildings nationwide and command a premium of up to 16% for sales prices and rental rates. More than 34,000 buildings have earned certification, which requires an ENERGY STAR score of 75 or higher, meaning that such a building performs better than at least 75% of similar buildings nationwide. All told, ENERGY STAR and its partners have helped save American families and businesses more than $450 billion and over 3.5 trillion kilowatt-hours of electricity since 1992 while also achieving broad emissions reductions. Another facet of the ENERGY STAR program has been similarly fruitful for industrial plants, while ENERGY STAR-certified homes, apartments and products are built to an equally high standard of efficiency. Yardi is intimately familiar with ENERGY STAR and its benefits. Property managers use the Yardi Pulse Suite to capture energy data for ENERGY STAR® benchmarking and reporting. The company employs experts who can help clients identify conservation opportunities and comply with ENERGY STAR and other standards. Yardi is also sponsoring a series of webinars this month on new ENERGY STAR compliance requirements taking effect in the U.S. and Canada next year. The EPA, co-manager of ENERGY STAR, has recognized Yardi as an energy efficiency leader. In April 2019, the company earned designation as an ENERGY STAR Partner of the Year, the highest level of recognition the agency offers, in the service and product provider category. Check out the EPA’s toolkit for spreading awareness of ENERGY STAR Day through...

Data IDs Ideal Renters...

Identifying quality residents will keep your long-term costs low. Low occupancy rates in the current Canadian rental market allow property managers to focus on selecting the most desirable residents for their vacancies. It is important, however, to make quality selections quickly before those ideal prospects sign a lease elsewhere! Explore how technology can help you efficiently sign leases with the right residents. Know your applicants Basic credit checks aren’t enough to get to know prospective renters. Add a range of inquiries to screening process to give you deeper insights that help mitigate risk—without slowing down the process. “A more robust screening process doesn’t have to be time consuming. Online, automated applicant screening improves speed, data access, and accuracy. Your screening software should integrate with your property management platform for full transparency,” suggests Peter Altobelli, vice president and general manager of Yardi Canada. Screen confidently Regardless of income, prospective renters need to be held to the same screening standards. Equifax credit data, criminal and court records, fraud checks, employment and rental histories are all important sources of information to properly evaluate an applicant. “Consider adding Certn as well to your screening process as well. Certn is the world’s largest risk relevant database, uses data from thousands of publicly available records and incorporates artificial intelligence and machine learning to evaluate prospects,” Altobelli says. Certn data includes high-risk behaviors, criminal and court records from 240 countries, 350 Canadian court boards and tribunals, adverse media, eviction records, watch lists and social media profiles. Understand the benefits  Advanced screening technology that analyzes a range of reliable data can help you consistently choose quality residents. When that technology integrates with your leasing and accounting platform, it brings additional benefits. “An integrated screening solution compares your screening process with the overall...

6 Halloween Ideas Oct17

6 Halloween Ideas

By now, you’ve (hopefully) set the date and time for your Halloween event. Are you still struggling with the details on how to make it special? We’ve got your back. Check out these Halloween party ideas for multifamily communities. Let your residents do most of the work Community Boo Game The Boo Game is like tag, reimagined for busy grownups with varying schedules. Someone from the leasing office starts the game by leaving a card and a box of goodies at a resident’s door. Then the chain continues in the hands of residents! Check out the card idea below. Cookie Exchange Have residents bake Halloween-themed goodies. Participants can gather in the clubhouse to share their creations. This could also be a fun fundraiser if you opt to sell cookies for attendees who did not bring a contribution. (You can also collect donations from all participants, of course.) Chili Cook Off Cool weather calls for warm comfort foods. A chili cook off is a quick and inexpensive way to get residents involved in spooky season festivities. Like the cookie exchange, it can be an exchange or donation-based event. Community Outing Find a local theatre playing Rocky Horror Picture Show or Halloween-themed films. Pick a film (or have residents vote if there is time). Have interested residents RSVP and then call the theater to block off a section for a show. If you’re lucky enough to be in pedestrian friendly district, top it off with bar hopping afterwards. Easy win! Discover how easy it can be to promote your event on social media. Smooth ways to promote your corporate values Pet Costume Party Pet costume parties are a great way to remind residents that their furry companions are a valued part of the family. Providence Place...

YASC Turns 20 Oct16

YASC Turns 20

A special anniversary Yardi Advanced Solutions Conference (YASC) kicked off this morning in beautiful San Diego, with 2,500 Yardi clients and staff members in attendance for the 20th edition of the event. Yardi president and founder Anant Yardi reflected on the early years of the conference in his opening remarks. “About 200 people attended the first YASC, and we were thinking, how will we cope with 200 guests?” Mr. Yardi reminisced. “Those 200 people would only fill the first two rows of seats here today.” Mr. Yardi then invited two clients who have been to almost every YASC event, Alex Ruiz of Picerne and Carol Kelly Ball of Sierra Properties, to join him on the stage. Yardi employees Nancy Bogg and Anna Markmann, who have worked on the production of every YASC conference, were also honored. YASC is now a global event, with six conferences annually around the world. In addition to the two U.S. based events, there are conferences in the United Arab Emirates, Australia, Singapore and England. Meanwhile, Yardi has grown to a company size of almost 7,000 employees at 45 offices around the world. Two decades on, Yardi’s corporate focus and mission statement remains the same: focused on client and employee success, stellar customer service, innovating new products and platforms and assisting local communities with philanthropy and volunteerism. At the heart of each of those items is the importance of relationships. One of the most valuable aspects of the YASC events is the chance for Yardi to receive feedback and suggestions from clients, and for clients to learn about new products and solve business challenges. In his remarks, Mr. Yardi offered a compelling history of technological innovation over the last 20 years, summarizing the transition from the early days of dot com, to the mobile and social media revolution, to today’s era of big data, artificial intelligence, and the Internet of Things. “This is the era of continuous connection. But in the world of business, continuous connection hasn’t fully come to fruition. Our goal is to make that happen and provide the tools and technologies that you need,” Mr. Yardi said. Yardi clients look forward to hearing about forthcoming advances in products and innovation at YASC, and Wednesday’s general session offered a breadth of such insight. Following Mr. Yardi’s presentation, Rob Teel, senior vice president, and Kevin Yardi, vice president, consulting practices, offered a detailed look at the Yardi Elevate suite for operational performance, Yardi Energy Suite for energy management, and Yardi Kube for coworking management. “We’re not just chasing dreams,” Mr. Teel said. “Most of the things that Anant mentioned, there are solutions at the end of it that will help your business.” Attendees at YASC will explore those solutions over the next two and a half days and also have a little fun. A special #YASCTurns20 party is planned for Thursday night on the U.S.S. Midway, near the conference venue on the San Diego waterfront. Find a full lineup of YASC highlights and information. To follow along with the event, use the hashtag #YASCTurns20 and follow Yardi on your favorite social media channel:...

YASC Preview Oct16

YASC Preview

The 20th Yardi Advanced Solutions Conference (YASC) returns to San Diego, Calif., this Wednesday to Friday, October 16-18. The annual user conference will offer in-depth training, networking and fun for Yardi clients, including a special milestone anniversary celebration. We can’t reveal all the surprises in store, but this is one event you won’t want to miss. “We’re excited to welcome our valued clients to the 20th edition YASC in San Diego. From its early days as a small gathering in Santa Barbara, this special event has grown to be one of the largest and most enjoyable user conferences around. We hope you enjoy the special surprises in store for this year – they’re our way of saying thank you for your support and participation.” Get a preview of YASC San Diego: Yardi Events app Get connected at YASC with the Yardi Events app on your smartphone. Attendees can access all conference information, venue maps, class materials, social networking, in-app messaging and more. Customize your daily schedule with classes, demos, panels and roundtables, and set up one-on-one meetings with Yardi staff. The Yardi Events app is available for download in the Google Play Store and Apple App Store. A browser-based version, synced to the mobile app, will also be available, so attendees can access the app features from their desktop. User log-in details have been emailed to all registered YASC attendees. Questions? Email our team at yasc@yardi.com. Get personal attention Did you know our Knowledge Central experts have an average Yardi tenure of nearly 5 years? We’ve brought together a friendly group of experts that includes team leads, consultants, and senior account managers to answer your toughest questions, solve your trickiest challenges, and guide you through our newest software solutions. Find Knowledge Central operating hours in the Yardi Events app and be sure to visit our team on the Hilton San Diego Bayfront Indigo Level. Connect with others How many industry connections can you make in three days? There will be over 1,500 attendees representing nearly every segment of the real estate sector at YASC. The conference will offer expanded opportunities to connect with peers in your industry, including morning wellness activities, scheduled breaks and networking receptions. For all conference activities and receptions, bring your conference name badge and get ready to network! Visit the Networking Lounge, located on the Aqua Level, to network with others in your market, check in at the office and recharge your devices. Celebrate with us Learning is first and foremost at YASC, but that doesn’t mean you can’t have a good time too! Join us at the Networking Reception on Wednesday evening for cocktails and appetizers. It’s a fun way to wind down and get to know Yardi staff and other YASC attendees. On Thursday night, it’s time to party! The Yardi Party is always packed with music and fun with your new friends from the conference, and we’ve got big plans for our 20th anniversary, so you won’t want to miss this. Don’t forget that your conference name badge is your all-access pass for conference activities and receptions. Please be sure to wear it at all times. New this year: fitness activities on Thursday morning If you enjoy getting a workout in before the day begins, you’ll love our new yoga and running opportunities, set for Thursday morning from 6:45-7:45am at the Bayfront Park (outside the Hilton). Follow the signs to the yoga class or join us for a variety of run distance options! It’s a wonderful time of year to exercise outside in beautiful San Diego. Get social Share your conference experience on social media using the event hashtag #YASCTurns20. Follow Yardi on your favorite social networks for conference news, prizes and more. Connect with Yardi on our corporate blog, LinkedIn, Twitter, Facebook and Instagram. Interested in joining us at the 20th annual YASC event in San Diego? Add your name to the...

Leading Long Term Care Oct16

Leading Long Term Care...

Oregon has long been a leader in long-term care. In fact, the first assisted living community in the US opened there in 1983. And in the decades since, the Oregon Health Care Association has pushed for higher-quality care and new, innovative services. It’s no surprise then that their Annual Convention is one of the industry’s biggest events. OHCA is the largest long-term care trade association in Oregon, numbering more than 1,000 organizations and 90 percent of providers in the state. OHCA advocates for their members at the local and federal level, and they offer a unique variety of educational opportunities throughout the year for professional development and industry-wide collaboration. This year’s Annual Convention is set to take place in Portland on November 19-20. Given its proximity to a certain food-filled fall holiday, the conference theme this time around is “Harvesting Your Gratitude,” which celebrates the bountiful season and honors those who provide for others. Over 1,200 attendees from across the state and across the continuum of care will be in attendance, including us! Swing by Booth 401 to say hello to the Yardi team and see what’s new with our single, connected solution for senior living. From marketing and sales to resident care and medication management, the Yardi Senior Living Suite improves efficiency while reducing costs. Here’s just a few of the solutions we’ll be showcasing on the tradeshow floor: Yardi Senior CRM – Grow your occupancy with mobile-friendly marketing tools designed for senior living providers. Automated workflows keep your sales counselors on task, and electronic leasing lets you quickly generate a custom lease for each prospect. RENTCafé Senior Living – Keep residents and family members connected to your community through this online portal. Offer electronic payment methods, maintenance requests, activity calendars and more...

Improving Comfort

Your tenant in the eastern wing is chronically cold. You’re fighting an uphill battle for safety as your tenant’s employees bring personal heaters into the space.  In the western wing, however, your tenant’s employees can’t get cool enough. They complain of high energy bills while swearing the humidity will lead to mold problems. Uncomfortable tenants are more than a headache. They are a threat to your bottom line. Thermal comfort can impact your tenants’ desire to renew their leases. Additionally, a commercial property with low thermal comfort may indicate inefficiencies in its climate controls or building envelope. High turnover and an inefficient building will adversely affect your bottom line. Thermal Comfort + Your Bottom Line The American Society of Heating, Refrigerating and Air-Conditioning Engineers defines thermal comfort as the condition of mind that expresses satisfaction with the thermal environment. It is subjectively assessed by using the Comfort Scale or Thermal Index, both of which evaluate temperature, humidity, air velocity, and radiant temperature. As comfort is subjective, a commercial building’s thermal comfort ranking will vary from person to person. Health and Safety Executive recognizes an international standard which suggests that a building has “reasonable comfort” when at least 80 percent of its occupants are thermally comfortable. Improving Thermal Comfort in Commercial Properties There are three ways to notably improve tenant comfort and protect your investment: 1. Identify and Fix Leaks Address leaks in the building envelope. Contact a contractor to identify areas where your heating and cooling efforts are defeated by oversights in construction or maintenance. Resealing windows and adding weather stripping to doors, for example, are two quick fixes for drafts. Leakage significantly decreases the energetic efficiency of an HVAC system. As a result, the HVAC system may be working overtime to regulate indoor conditions. Have your units...

Easier Medicaid Billing Oct14

Easier Medicaid Billing

For many residents in senior living communities, Medicaid is a stable source of funding for care. But for just as many owners and operators, Medicaid is a source of billing frustration. Since each state manages their own Medicaid programs, senior living providers can have wildly different processes for getting reimbursed for care among their communities. Some states require electronic claims submission – some make it optional. And not all states reimburse for the same services in the same way. Figuring out the who, what, where and how is enough to make some providers reluctant to accept Medicaid recipients. But that’s all changing. We’re excited to announce Yardi Claims Manager, the newest update to our Yardi Voyager Senior Housing platform. Claims Manager streamlines the claims submission process by automating the entire workflow. Staff no longer need to do manual paperwork for each resident and claim. Instead, the solution integrates directly with the resident’s record through Yardi Voyager, so all billing information is in one central place. Staff can then leverage state-specific billing templates to submit electronically and breeze through the complexities of Medicaid reimbursement. Check out how Claims Manager can simplify electronic claims management for assisted living and memory care providers. Save time: Less scanning and filing of Medicaid paperwork means more time back for your team to focus on other priorities. All your claim documentation is centrally located in Yardi, so there’s no shuffling between accounting systems or digging through the state’s Medicaid billing software for submissions and reconciliation. Eliminate errors: If your staff must transfer claims information from one system to the next, reentering data and submitting directly, mistakes like typos, missing details or incorrect billing codes are bound to happen. With an average error rate of 28%, paper claims are no better. Claims Manager handles the transaction data for you, using real-time data to populate Medicaid forms so you can submit clean claims every time. Reduce rejections: Claims Manager conducts pre-checks before you submit, verifying that resident claims are accurate and error free. This helps prevent claim rejections, claim rework and all the back and forth with the state. It also means you’ll have fewer gaps in your revenue due to delayed reimbursements. Track statuses: Customizable dashboard and widgets allow you to keep an eye on the status of your Medicaid claims. With full visibility into all residents that are on Medicaid, from a high-level view down to transaction details, you can quickly see if anything needs a follow-up so you can keep claims moving through the Medicaid pipeline. Maintain compliance: Create a clear audit trail without having to lift a finger. Claims Manager stores and safeguards all resident factors and qualifying conditions, ensuring that you’re HIPAA compliant throughout the electronic claims submission process. You can easily track leaves of absence as well to adjust your Medicaid billing by the right amount. If you’re already a Yardi client, you can learn more about Claims Manager by contacting your sales rep or visiting Client Central. Not using Yardi yet? Get in touch to discover our single connected solution for senior...

Efficient Social Housing Oct12

Efficient Social Housing

Technology is transforming the way social housing providers manage properties. The technological advancements that have already transformed financials and operations are now automating resident-based transactions. The results are increased efficiencies for clients and greater empowerment for staff. Peter Altobelli, vice president of sales and general manager for Yardi Canada, explored four benefits of technology for applications and waitlists in the Ontario Non-Profit Housing Association Procurement Newsletter. Check out a sneak peek of the article below. Revolutionized Application Process Traditional social housing applicant intake processes rely heavily on in-person interviews. Those interviews run the risk of miscommunications and require a lot of time for your staff and prospective residents. “Online, self-service application workflows present each applicant with a consistent experience, conveniently available 24/7. Applicants can submit their information when it’s most convenient for them from any web browser with digital accuracy. This provides more efficient use of staff’s time when reviewing applications,” said Altobelli. Manage Waitlists in Real-Time Using conventional mail notifications, updating waitlists is a lengthy process. Convenient online user portals connect waitlisted households to leasing office staff in real-time. “Connected technology makes it possible for social housing providers to efficiently upload documents, respond to housing offers and notify staff of changes and pending approvals, in real time, and maintain updated waitlist,” explained Altobelli. Innovative technologies enable staff to meet the needs of applicants and residents while reducing administrative workloads for staff. Get the full story, including the benefits of electronic CRM, at...