Learn From Changemakers

We hope you’ve enjoyed the 2022 Changemakers series, an annual collaboration between Yardi and Senior Housing News (SHN). As sponsor for the fourth year in a row, we’re honored to join SHN in spotlighting senior living leaders for the exceptional efforts and achievements — with this year’s Changemakers class totaling at 11 honorees. If you haven’t had the chance to explore the interviews with each honoree, you can find those here on The Balance Sheet. Each leader sat down with SHN to chat about their experiences in the industry and share their strategies for driving change. And to celebrate the series coming to an end, we have a new resource to share! SHN has published a 2022 Changemakers ebook, which showcases unseen excerpts from the interviews. Read on to download the ebook and access bonus advice from this year’s Changemakers. Changemakers series wraps up for 2022 In light of the series ending, we’re extending a final congratulations to our Yardi senior living clients recognized! These honorees embody what it means to be a Changemaker. Each and every one has forged a unique path within their organization, and they’ve shaped the industry into what it is today. A very warm congratulations to: Joel Nelson of LCSTana Gall of Merrill GardensTom Grape of Benchmark Senior LivingJim Coughlin and Wendy Nowkunski of Northbridge CompaniesJesse Marinko of Phoenix Senior LivingDale Watchowski of American HouseBryan McCaleb of Sagora Senior Living We applaud you all for earning a well-deserved place in the 2022 Changemakers class. Read this year’s ebook To hear extra insights from our clients above and the rest of the 2022 Changemakers, explore the SHN ebook. If you’d like to learn more about how our senior living management software supports providers, get in touch anytime....

CASA of Travis County Sep09

CASA of Travis County...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. In today’s nonprofit spotlight, CASA of Travis County takes center stage. Travis County’s largest city is Austin, Texas. CASA (Court Appointed Special Advocates) of Travis County believes every child who has experienced abuse or neglect deserves a dedicated advocate speaking up for their best interest in court, at school, and in the community. To accomplish this, CASA educates and empowers diverse community volunteers who ensure each child’s needs remain a priority in an overburdened child welfare system. When the state steps in to protect a child’s safety because the people responsible for protecting them have not, a judge appoints a trained volunteer advocate to make independent and informed recommendations and help the judge decide what’s best for the child.  Amari and Sharon’s story Amari had already been through 12 different schools when CASA was assigned to his case. Each time he moved to a new school; he fell even further behind. He dreamt about going to college to study sound engineering so he could one day open his own recording studio, but that seemed out of reach until his CASA Volunteer Sharon came into his life.    Sharon knew that Amari needed a lot of help to stay on track. She worked with the school to develop a specialized plan that would accommodate his learning challenges and would FaceTime him each morning to make sure he got up for class. Over time,...

RV/Boat Storage Sep08

RV/Boat Storage

Consumer purchases of recreational vehicles and boats are spurring strong demand for storage facilities, creating investment opportunities within this niche asset class, according to a new research bulletin from Yardi Matrix. The bulletin outlines factors driving demand for RV and boat storage. Most notable among them are a record number of acquisitions. In 2021, 571,000 RV registrations and 313,000 boat sales were recorded, driven largely by consumers’ desire for outdoor vacation activities during the pandemic and a shortage of space in residential areas to store the vehicles. RV/boat storage facility deliveries are expected to rise to the highest levels in nearly two decades in 2022, the bulletin reports. However, this growth, constrained by the limited number of developers and suitable facilities, zoning issues and other factors, is not fully meeting demand. Sixty-six property sales valued at $284.5 million took place in 2021. With the average price per acre already 40% higher in 2022 over last year, this year “will likely be another record year for RV/boat storage transaction volume,” the bulletin says. Although vehicle sales could be slowed by rising interest rates, supply chain snags and a slowing economy, “growth in the total number of RVs and boats to be delivered over the next five to 10 years is likely to be solid and increase demand for storage,” the bulletin says. Read the research bulletin to learn more about the RV/boat market’s current state and prospects and why this subsector of the self storage vertical presents an opportunity for investors. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, industrial, office and self storage property types. Email [email protected], call...

Canadian Conservation Sep07

Canadian Conservation

Yardi is making a significant donation to help the Nature Conservancy of Canada (NCC) protect and care for the largest private conservation project in the country’s history – the Boreal Wildlands project in northern Ontario. default The Yardi donation will help NCC permanently protect an area twice the size of the city of Toronto. NCC, which is dedicated to accelerating conservation, restoring ecosystems and caring for biodiversity, will execute the project in collaboration with communities, government, Indigenous Peoples and others. Boreal forests comprise coniferous and deciduous trees, as well as deep peatlands that counter global warming by removing and storing carbon dioxide from the atmosphere. Species at risk find safe haven among habitats in the project area that includes wetlands, more than 100 lakes and more than 1,300 kilometers of rivers and shoreline. “Thank you, Yardi, for funding the project and enabling us to purchase and protect more than 1,450 square kilometers of Boreal Wildlands for future generations,” said Catherine Grenier, NCC’s president and CEO. “Yardi commends NCC’s dedication to slowing climate change and is pleased to support the transformational Boreal Wildlands project, whose impact will extend far beyond Canada,” said Peter Altobelli, vice president and general manager of Yardi Canada Ltd. The Nature Conservancy of Canada is the country’s unifying force for nature. NCC seeks solutions to the twin crises of rapid biodiversity loss and climate change through large-scale, permanent land conservation. As a trusted partner, NCC works with people, communities, businesses and government to protect and care for our country’s most important natural areas. Since 1962, NCC has brought Canadians together to conserve and restore more than 15 million hectares. To learn more,...

Self Storage Moderates Sep06

Self Storage Moderates

Economic stressors and cranky consumers were a focus of the latest Yardi Matrix webinar, where Jeff Adler, vice president of Yardi Matrix, focused on the self storage market as well as presented a macro-economic outlook and honed in on the storage market for RVs and boats. The economic recovery from the pandemic essentially complete, return to normal doesn’t necessarily mean a rosy forecast for businesses hoping to keep growing. Adler predicted that a recession is definitely on the horizon by 2024. “The Fed is in a tightening cycle; they will continue to increase (interest) rates until they see clear evidence of decreasing inflation back to trend. Their goal is two percent. It’s very hard to get to that level given all of the stressors in the economy,” Adler stated. Those stressors include rising housing rents, which have created affordability issues in some markets; the labor market, which continues to be tight as 3-4 million workers have left the workforce; and inflation, a major source of stress for consumers. In August, multifamily asking rents dropped for the first time in 2022. The decrease was only by $1, but markets that saw the most heated growth during the pandemic, like Florida cities Orlando, Miami and Tampa, took harder hits. “You have a cranky consumer base facing all these stressors,” said Adler. Ongoing interest rate hikes are unlikely to buoy their spirits. Some gas price relief has helped a bit, though prices are still much higher than normal in many states. For the self storage sector, an outlier among real estate sectors with continually impressive performance throughout the pandemic, rents have finally stopped growing just in the last couple of months. Average U.S. street rates for 10X10 non-climate-controlled (NON CC) units remained at $132 in July, matching the all-time high set in June. “Self storage growth is moderating, and you can see it in street rate growth which has come down now sequentially,” Adler said. “There are some markets that are beginning to decline. Their occupancy is retreating which would tell us that the demand wave is also receding.” Major markets with the strongest recent self storage rate growth include Atlanta, Orlando, Miami and Tampa. Those that are seeing the largest asking rate declines are Portland, Philadelphia and Washington, D.C. Investment in the sector, which was historic in 2021, has now tempered. “From an equity standpoint, storage just crushed it in 2021, from a public REITs perspective. It has pulled back some in 2022, as one would expect. But it’s still performing quite well,” Adler said. Typical occupancy rates for storage in the 80-percentile range indicated robust performance. In the last two years, many markets have seen occupancy rates in the 90-percentile range. The webinar also covered trends in the niche storage area of RV and boat storage, which Adler will speak on this week at the annual Self Storage Association Fall conference in Las Vegas. Storing RV and boats accounts for three to five percent of the total storage market. “Demand has been surging, both because of the growing use of RVs and boats, and it’s hard to build (these facilities) in residential areas. The aging of the population means more people are buying these things,” Adler said. “I do think this is an interesting niche that’s earlier in development than existing consumer self-storage and that makes it an interesting opportunity for early-stage investors.” Learn more about the economic outlook, state of the self storage industry across the nation, and RV/boat storage investment opportunities in the Yardi Matrix webinar...

Having a Blast Sep06

Having a Blast

Before a majestic skyscraper, sleek office building or sturdy apartment complex takes its place on a city’s skyline, a structure currently occupying the space might have to be cleared out. In many cases that requires an explosive sequence that looks like an exercise in disarray but actually is a carefully calculated, prepared and controlled event. An old building is a candidate for demolition when it requires too much maintenance, contains dangerous materials or is otherwise unsafe. It’s fairly easy to level a five-story building using excavators and wrecking balls, but bringing down something on the scale of a 20-story skyscraper safely and efficiently requires an exquisite, fully planned explosive demolition involving “highly trained experts working with debris, weather conditions, materials, mass and physics,” says Irvine, Calif.-based BigRentz, the U.S.’s largest online construction equipment rental network. “Today’s technology can see skyscrapers fall from their stance in a matter of seconds, transforming the aesthetic of a landscape and allowing for new features to be constructed,” adds information source Live Science. Explosives comprise a compound or mixture of compounds that releases tremendous amounts of energy in the form of heat and gas when ignited. They include molecular explosives such as trinitrotoluene (TNT) and nitroglycerin, chemical explosives like dynamite (which includes nitroglycerin) and composite explosives that contain fuel, oxidizers and other self-explosive ingredients. When a building is surrounded by other structures, implosion – a collapse into the structure’s own footprint using explosive materials in a pre-determined, detailed sequence and detonating them at a pre-arranged time – is the method of choice. A series of small explosions, strategically placed within a structure, encourages a collapse by weakening or removing critical supports. Explosives on the lower floors then initiate a controlled collapse and the building fails under its own weight, creating a pile of rubble without damaging nearby buildings. The event is preceded by pre-blast structure surveys, blueprint examinations, 3D modeling, clearing of debris and hazardous materials, planning for vibration and blast control measures, weakening of the supporting columns with sledgehammers or steel-cutters, removal of non-load bearing walls, blast area security and warning methods for the safety of nearby people and structures, and the loading of the columns with explosives. Some demolitions take out the entire structure whereas selective demolition removes specific sections of a building while retaining the structure. This approach is favored for remodels, upgrades and extensions where recycling, reusing and a reduced environmental impact from demolition are a priority. “The violent blasts and billowing dust clouds may look chaotic, but a building implosion is actually one of the most precisely planned, delicately balanced engineering feats you’ll ever see,” says HowStuffWorks, another science information resource. In November 2020, the 540-foot Mina Plaza building in Abu Dhabi, United Arab Emirates, became the tallest building to be demolished using explosives, taking all of 10 seconds.  Construction is the fastest-growing segment for the explosives market in the U.S., which also encompasses transportation projects and other infrastructure activities. Mining interests favor explosives as a more versatile, time-saving and less expensive alternative to mechanical drills. The global industrial explosives market was valued at $7.1 billion in 2019 and is projected to reach $10.9 billion by 2027, according to Allied Market Research. “Demolitions are important to the growth a revitalization of our communities and are continually evolving to become more cost-effective, safe and environmentally friendly,” says BigRentz. Property owners can use Yardi Construction Manager to stay on time and on budget through every phase of a commercial real estate construction project – including...

The Senior Source Sep05

The Senior Source

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, let’s get to know The Senior Source of Texas, which champions older adults in Dallas. “We empower active older adults to live with purpose, we protect vulnerable older adults, and we advocate for and ensure the financial and emotional well-being of Dallas-area older adults,” said Laura Wells, Corporate and Foundation Relations Director. According to Wells, The Senior Source has three main strategic priorities: Digitize Knowledge, making it easier for caregivers and financially insecure older adults to make informed decisions and decrease stress. This also allows The Senior Source to serve more clients while lowering cost to serve.   Expand Impact Through Leveraging Partnerships to disseminate expertise and thought leadership to increase the number of clients served.   Optimize Program Delivery to the growing senior population. “As the number of seniors grows and their needs become more complex, we need to grow to meet demand while maintaining the quality of outcomes for which we are known,” Wells said. A Senior Source success story A Senior Source staff member received a call from Rose, who was concerned about her aging mother’s finances. Rose was struggling to care for her mother at home while working full-time. She was afraid she would be forced to put her mother in a nursing home, concerned about the cost, and overwhelmed by the Medicaid assistance process. The staff member, Debbie, recognized Rose’s stress level as dangerously elevated.   To best assist...

YASC 2022 Aug31

YASC 2022

The Yardi Advanced Solutions Conference (YASC) returned in person for the first time in three years. The sold-out event welcomes 3,000 Yardi clients in San Diego, Calif. for three days of learning, networking, exposure to exciting new technologies, and fun. Yardi president and founder Anant Yardi addressed attendees at the San Diego Convention Center, the first time YASC has utilized such a large venue for its general session gatherings. The host hotel for the event is the Manchester Grand Hyatt, where classes and Knowledge Center, a technology resource lab, are taking place. “It is just so exciting to have this conference in person once again after almost a three-year hiatus. Thank you for making the time to be here and to enjoy the atmosphere, the educational sessions and to network with each other,” Mr. Yardi said. Marking the company’s 40th anniversary, Mr. Yardi shared his perspective on the changes that the pandemic will bring to real estate holistically. The last two and a half years have been transformative for the industry. “For me, change is not a setback. It’s an opportunity to figure out how to respond to a theme such as the pandemic and the things that we see occurring around us,” Mr. Yardi said. Anticipating a coworking boom Those pandemic-prompted changes include the vast numbers of knowledge workers no longer working in offices full time, and residential shifts that have taken place as the result of increased workplace flexibility. Mr. Yardi cited a recent CoreNet study that found that 29 percent of knowledge workers are not required to be in the office unless requested by a manager, and close to 60 percent are required to be there less than four days a week. This shift has been buoyed by employers finding that employees are just as productive at home as they are at the office – 83 percent of CoreNet corporate respondents stated this was the case. This change in where people are working portends a significant shift for the commercial office space market. “Corporate real estate agencies or employers are beginning to shed office space. They’re reducing their footprints,” he said, citing national average office vacancy rates that are averaging 16 percent, but are 20 percent in some major markets. Mr. Yardi expects that the shift in space utilization will create a boom for coworking spaces and services. He forecast that coworking space – places where traveling or fully remote employees can use temporarily to have meetings, use the Internet, answer emails or accomplish tasks – will become prolific in the next few years. “Today there are 6,000 coworking locations (nationally). And the expectation is that in three to five years, it will be close to 30 times that number, and every large building will end up with a coworking location,” Mr. Yardi said. “My suspicion is that in course of time, coworking will get to a point where sites such as Expedia will allow you to book your hotel, your airline and your coworking conference space.” Marking 40 years of real estate technology After sharing some of the highlights for other real estate sectors – including rising rents in the multifamily space, an increased focus on built-to-rent single family developments, and a need for more affordable housing nationwide – Mr. Yardi reflected on the journey Yardi has taken as a company over the last four decades. Sharing a photo of the Apple II, an 8-bit home computer on which he wrote the first basic program that became the start line for Yardi’s software, Mr. Yardi contrasted the laborious process of manually programming the original code with today’s AI algorithms, which enable the production of code via machine learning. “The reason I wanted to show this to you is that innovation is one thing, but when the markets change, technology changes,” Mr. Yardi said. “We all have to learn new things.” Yardi continues to innovate technology solutions...

Tiny Offices Aug30

Tiny Offices

You’ve probably heard about tiny homes, which usually range from 100 to 400 square feet and provide affordable alternatives to traditional houses, opportunities for a simplified lifestyle and a potentially smaller carbon footprint. It’s a small but steadily growing part of the residential real estate market. And now, with some companies letting their employees work from home most of the time or permanently, could the small space concept translate to the office environment as well, with similar benefits? As a matter of fact, yes. Tiny offices, which are often installed in back yards, are gaining in popularity too, with demand having “skyrocketed amid a surge of interest from private homeworkers looking to redesign their work and home life,” according to the BBC. Tiny offices suit people seeking fuller separation of their professional and personal lives. But many workers “don’t have the space [for a home office] and they don’t want to spend all of the money to remodel their house with a room addition. That’s why I think we’re seeing so much of this,” says Bob Clarizio, a builder of tiny houses in Elgin, Ill. Early in the pandemic, some tiny house and garden shed manufacturers pivoted to create home office structures. “A soon as the quarantine and having to work from home started, the requests for our sheds doubled,” said Brennan Deitsch, a manager for Heartland Sheds in Glendale Heights, Ill. Tiny office styles can range from classic cottages to modernist miniature house designs, equipped with solar panels, energy-efficient windows and other amenities. And they’re mobile, so if the owner moves, “for relatively little cost you can just take it with you, plonk it in your garden and get up and running before your house is even finished,” says Mike Hyde, operator of...

The SAFE Alliance Aug29

The SAFE Alliance

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we are hearing from the SAFE Alliance of Austin, Texas, an alliance of abuse prevention organizations that works to help survivors of child abuse, domestic violence, sexual assault, and sex trafficking to be safe, heal, thrive — and break the cycle. “Our mission is to stop abuse for everyone,” said Heather Henry, Senior Director of Development for SAFE Alliance. “The Center for Battered Women, the Austin Rape Crisis Center, SafePlace, and the Austin Children’s Shelter, all respected, women-led human service agencies created by volunteers and informed by survivors, paved the way to who we are today.” In 2021, SAFE served over 6,000 people through direct care services like shelter, counseling, sexual assault forensic exams, and more. “We cannot provide these necessary services without philanthropic donations from our community,” Henry says. “Gifts from community organizations directly benefit the children, adults, and families we serve.” Services include foster children and youth housed in SAFE’s emergency shelter, who have been removed from their homes due to violence or neglect. SAFE also has a Charter School for children and youth living in its shelters, so that they can have specialized attention from expert teachers and emotional support specialists. Funding also benefits Eloise House, the facility on SAFE’s campus where survivors of sexual assault can come to receive a forensic exam in the immediate aftermath of a rape. “Yardi has been such an incredible partner to...

Commitment to Education Aug29

Commitment to Education

Continuing a longstanding focus on education, Yardi is pleased to announce the establishment of new scholarships at four Historically Black Colleges and Universities (HBCUs) in Atlanta and Raleigh, cities that are also home to Yardi offices. There are 107 colleges in the United States that are identified by the U.S. Department of Education as HBCUs. Most were established in the Southern U.S. prior to the Civil Rights Act of 1964 and were created to provide opportunities to Black Americans who were excluded from attending other higher education institutions during segregation. HBCUs are known for providing diverse and inclusive communities of scholarship, strong academic preparedness for post-college life and rewarding student and alumni experiences. HBCUs Morehouse College, Spelman College, North Carolina Central University and Shaw University will be home to four-year full tuition scholarships funded by Yardi that will begin in Fall 2022. Yardi already supports secondary education in its hometown of Santa Barbara, California through its support of the UC Santa Barbara School of Engineering, Santa Barbara City College, CSU Channel Islands, and the Santa Barbara Scholarship Foundation. Reflecting Yardi’s commitment to diversity and inclusion, Yardi’s executive team decided to support secondary education at HBCUs. A working group of Yardi employees, James Armour, Jackie Jones and Adrian Paul, led the effort to identify the best institutions to fund and the scope of the scholarships, supported by philanthropic leads Liana Rao and Arnie Brier. “Expanding our commitment to continuing education by funding full scholarships at HBCUs is incredibly important to the company,” said Rao. “These scholarships exemplify our corporate commitment to diversity and inclusion at Yardi. We hire talented folks from all four of these schools and are excited to expand our partnership with each university.” James Armour, Finance Director in Yardi’s Atlanta office, commented on the critical impact that support of HBCU students can provide. “In life, we have different starting lines and some people start ahead of others. I think this is just one step in moving that starting line for those who are at the back. I see this is as life changing for the recipients that will be receiving these scholarships. They will be that much closer to their goals,” Armour said. Jackie Jones, a Senior HR Manager in Yardi’s Raleigh office and a graduate of NCCU, described the significant impact attending an HBCU had on her college experience and life. “The HBCU experience, for me, was nurturing but also provided lessons at every turn,” Jones recalled. “I still attend homecoming events each year when I can. I made friends during college who are still among my best friends today.” Marcus Rutherford, a member of Yardi’s corporate training team, attended Johnson C. Smith University, an HBCU in North Carolina, said that his experience at the school has empowered his future. “It’s a legacy that I hold near and dear to my heart. As an alumnus I can encourage dreamers wanting to attend college to believe in their dreams. Don’t just reach for the stars. Be the star,” Rutherford said.Learn more about HBCUs and more about Yardi’s corporate philanthropy...

Together We Rise Aug28

Together We Rise

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today we’re featuring Together We Rise of Brea, Calif., a nonprofit that works with thousands of volunteers, social workers, CASA advocates, and other partners to transform the way children experience foster care. “Our programs provide a way for people who cannot become foster parents to still have a meaningful and effective way to help children in foster care,” shared Melissa Perez, social media strategist for the organization. Each year, Together We Rise reunites hundreds of siblings who have been separated in the foster care system for a fun day at Disneyland. This event is known as Disney Days. “On a very special occasion, a volunteer couple was matched with a sibling set of three sisters. At the end of the day, the couple said they could not imagine life without the siblings. The next week, the process of adoption was put into motion. The family is strong and thriving today,” Perez told us. When children enter foster care, they are usually given a trash bag to pack their belongings. “This makes children feel disposable at one of the most vulnerable moments of their lives. Our Sweet Cases are new duffle bags provided to children in care that are crafted with love and contain essential items such as: teddy bear, blanket, hygiene kit, and more. Our goal is to replace trash bags with Sweet Cases in the foster care system,” Perez explained. Thanks...

Toronto Community Housing Aug26

Toronto Community Housing

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today we introduce you to the Toronto Community Housing Corporation (TCHC), Canada’s largest social housing provider. They aim to provide clean, safe, well-maintained, affordable homes for residents. Through collaboration and with residents’ needs at the forefront, TCHC connects residents to services and opportunities and help foster great neighborhoods where people can thrive. The Toronto Community Housing leads with respect, accountability, community collaboration, integrity, and accessibility for persons with disabilities. TCHC also has several programs for children and young people such as after-school programs to scholarships. “Yardi is a generous supporter of the Investing in Our Diversity Scholarships program with eight young people receiving Yardi Canada Diversity Scholarships in 2022,” says Toshania Williams, Supervisor of Program Supports and Implementation at TCHC. Funds from Yardi will help the organization meet its goals this year and allow tenants to pursue their educational and career dreams. “Our priorities for the year to come are to provide better engagement opportunities to young people to build education, employment, and social and leadership skill development,” said Williams. “Investing in strategies that engage youth in positive activities that lead to personal growth and community development in areas of safety, leadership engagement, recreation, and economic development.” Fiza’s Toronto Community Housing story Fiza Qazi is a tenant of TCHC who recently received the Yardi Canada Diversity Scholarship and hasambitions to work towards a career in technology management. “Fiza is passionate about technology and coding and is currently attending Toronto Metropolitan University to obtain a business degree,” shares Williams. “Over the years Yardi has gifted our tenants with technology, scholarships, and more,” says Williams. “We publicized our relationship with Yardi in media releases, social media posts, and our 2021 Annual Report.” Volunteer opportunities in Toronto Toronto Community Housing welcomes volunteers for general support for programming and events. Yardi employees that wish to volunteer can send Debra Shaw an email at  [email protected] A screening may be needed so be sure to visit the Toronto Police Services for more information and requirements. Learn more about Toronto Community Housing at torontohousing.ca, and find future non-profit profiles at...

Introducing CRM IQ

RentCafe CRM IQ is the latest innovation from Yardi in customer relationship management solutions for multifamily. It puts your customer at the center of the relationship to seamlessly manage prospects, applicants and residents for the entire leasing and resident journey. CRM IQ also provides a platform for centralized leasing offices and enhances the capabilities of other centralized property operations. Built into Yardi Voyager and the RentCafe product suite, CRM IQ has enhanced features that benefit site teams, owners, managers and their customers. Keep reading to explore what customer-centric innovation from Yardi can do for your business. What makes CRM IQ unique? Your customer is more than a renter, and your CRM system should reflect that. CRM IQ doesn’t stop prioritizing your prospects once they convert. Instead, CRM IQ manages your customer interactions through every stage of the leasing and resident journey. With robust features designed to support the full customer lifecycle, CRM IQ is built to guide your prospects into applicants, and your applicants into satisfied residents, ready to renew. The result is a better customer experience made possible by customer-centric software. What’s new with CRM IQ? With features that automate communication and improve visibility across prospects and residents, CRM IQ is a one-of-a-kind solution in the multifamily industry. Here are more details that make it even more unique: Enable centralized leasing office (CLO) processes with customer-centric views and site clustering. CRM IQ has intuitive features that aggregates properties within a central view and shares activities across regional attributes. Save staff hours by helping prioritize the most valuable tasks and utilize remote and clustered staffing offices.Prioritize higher-quality leads and automate lead nurturing with event-based AI. More leads don’t always mean more conversions — this is why CRM IQ prioritizes prospects at every stage of...

YASC Returns Live! Aug25

YASC Returns Live!

Yardi is excited to welcome clients back in-person to the Yardi Advanced Solutions Conference (YASC) beginning Aug. 31, marking a return to real time after successful interactive virtual events over the last two years. The event is sold out with more than 3,000 clients expected to attend. Social media hashtag for the event will be #YASC2022. Be sure to download the conference app for fun games, interactive features and the full course schedule. Registered attendees have received a direct link to app via email. Attendees can also use the class list, course descriptions and agenda to prepare for their time in San Diego. YASC combines classroom learning with social activities in a beautiful seaside setting. The event will feature more than 280 unique classes presented in 300-plus sessions, with some classes offered multiple times. The classes and dozens of product experts will give thousands of real estate professionals in attendance insight into Yardi software solutions that improve efficiency in marketing, leasing, acquisition, energy management, investing and other operations. Yardi experts will provide personalized consultations and panel sessions will examine key industry trends. Exclusive live outdoor entertainment and fun social activities comprise other elements of a memorable experience at the Manchester Grand Hyatt San Diego, the new host resort on San Diego’s waterfront. You don’t want to miss it! During the pandemic, YASC was held as successful interactive virtual events in May and October 2020, May 2021 and March 2022. The events drew tens of thousands of attendees from more than 60 countries. Virtual YASC events will continue on an annual basis, with dates for 2023 to be announced soon. “We’re proud that our clients continued to gain value from virtual gatherings but there’s nothing like meeting face-to-face with colleagues. Our software is designed to connect people and communities, and we look forward to continuing that effort in San Diego,” said Kevin Yardi, the company’s vice president of global solutions. International clients can see what’s planned for regional in-person YASCs around the world in 2022. YASC Sydney is set for Sept. 20-21. YASC London is planned for Nov. 8-9. YASC Asia will return in Spring 2023, with a location to be announced...

Take It from the Top Aug25

Take It from the Top

Common onsite amenities available to occupiers of commercial and residential properties are widely known: gyms, laundry service, parking spaces, pet services and clubrooms, among others. But there’s a special location that can provide a key differentiator in the competition to attract and retain occupants: the roof. “Today, particularly at higher-end properties, unique rooftop amenities have proven to be a deciding factor in community selection for future residents,” says Brandon Reed, chief visionary officer at Salt Lake City-area rooftop amenity designer Loft Six Four. Moreover, they offer revenue opportunities like higher retention rates, higher rental yield and sale prices per square foot. “Once a forgotten space used only for cooling towers, water tanks and elevator machine rooms, or private amenities to attract tenants, building rooftops and setbacks are getting long overdue appreciation. Rather than being a sign of exclusivity, these rooftop spaces are becoming an essential part of any well-positioned office building,” adds Ambrose Aliaga-Kelly, a technical director for global architecture, design and planning firm Gensler. Popular rooftop amenities include safe play areas for children; swimming pools; gardens; lounges; outdoor kitchens; putting greens, games, yoga studios and lockers; outdoor TVs, Wi-Fi, USB ports, charging stations and other technology; and pet amenities like dog parks and washing stations. Aside from being space-efficient, an especially important consideration in high-demand metros with low vacancy rates and limited space for extras, rooftop amenities offer something that isn’t available at lower levels: a view. “A roof terrace with breathtaking city skyline views can be a major draw for potential tenants and buyers,” according to Reed. And there’s an energy angle too. Repurposing roofs on older residential and commercial buildings can reduce their carbon footprint. Green or planted roofs can help lower a building’s energy consumption by insulating it and providing a...

Changemakers Series

We’ve loved bringing this year’s Changemakers series to The Balance Sheet. Presented by Senior Housing News (SHN) and sponsored by Yardi for the fourth consecutive year, the series interviews industry visionaries to capture their experiences, strategies and advice. And to earn the Changemaker title, leaders need to push boundaries and take innovative approaches in senior living. The 2022 honorees certainly do — including our final Changemaker: Dale Watchowski. As the president and CEO of American House, one of our senior living clients, Dale shares insights about his leadership journey to date — plus more. Keep reading for a quick highlight of his interview. Meet Dale Watchowski When you meet someone with 30 years of industry experience, you know they have a few strategies up their sleeve. For Dale Watchowski, three decades in real estate and senior living have taught him valuable lessons, sparking his ability to drive strategic change. At American House, he brings that strategy — and unique leadership skills — to help the organization stand out from the crowd. That’s the basis of his interview with SHN, but there’s more to uncover. View the snapshot below then ready Dale Watchowski’s full interview. SHN: How have you changed as a leader since you’ve joined American House? Watchowski: I’ve always seen myself as an investor in real estate, as REDICO is the parent company of American House. REDICO is an acronym for Real Estate Development Investment Company, and throughout my career I’ve been investing in real estate and operating real estate. But the business of senior housing requires much more than that. Of course, you need financial discipline and some institutional character, but the business of serving and caring for seniors has to be top of mind and for me, it’s always felt philanthropic....

New Friends New Life Aug23

New Friends New Life

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, let’s hear about New Friends New Life of Dallas, an organization that restores and empowers trafficked and sexually exploited teen girls, women, and their children, and drives awareness of the issue and its prevalence. By providing access to education, job training, interim financial assistance, mental health, and spiritual support, New Friends New Life (NFNL) helps women and their children overcome backgrounds of abuse, addiction, poverty, and limited opportunities. The vision statement of NFNL is “creating a community where women and girls can soar above the limits of their past and achieve their dreams.” “The four most common limitations our women face are conventional employment opportunities, education, access to legal support, and stable housing options,” said Priya Murphy, Senior Director of Development for NFNL. “Our organizational priorities are aligned to remove these barriers by continuing our economic empowerment program, creating an on-site legal and educational department, and exploring potential housing partnerships.” Yardi contributions support NFNL services that help to move survivors of sex trafficking from exploitation to self-sufficiency. These services include a Women’s Program, Youth Resource Center, Childcare, and the Economic Empowerment Program. Funds will support daily need expenses including food and transportation assistance, along with trauma-informed counseling services we provide to help members rebuild their lives and the ongoing mission of NFNL. “New Friends New Life is grateful for the support we have received from Yardi, and we cherish your partnership....

Shopping Malls Adapt Aug22

Shopping Malls Adapt

Shopping malls, which McKinsey has defined as “the heart and soul of communities, the foundation of retail economies and a social sanctuary for teenagers everywhere,” have been under severe pressure from the proliferation of e-commerce and other forces. Although shutdowns and consumer reluctance to shop in person reduced average mall foot traffic by 90% at the pandemic’s outset, COVID-19 isn’t wholly to blame for the decline; it merely accelerated trends already in place. In 2014, McKinsey asserted the traditional mall as being “at a critical inflection point,” with “a storm of global trends coming together at the same time to cause malls to change the role they play in people’s lives.” In the subsequent years, “the single biggest factor in the decline of foot traffic at shopping malls has been the rise of online shopping,” says business content platform MarketScale. A record 12,200 U.S. stores closed in 2020 and about 125 consumer goods and retail companies filed for bankruptcy that year, on top of almost 6,000 stores that closed in 2019. Though suburban foot traffic has nearly returned to 2019 levels, foot traffic at urban shopping centers and malls remains 16% below pre-pandemic levels. Traditional mall anchor tenants like Neiman Marcus and J.C. Penney declared bankruptcy recently and reduced their store presence, while gas prices, COVID-19 variant surges and supply chain issues further complicated the issue. But while the challenges are undeniable, don’t count the mall out as a preferred shopping venue just yet. Retail foot traffic rose 61% during Black Friday 2021 compared to the previous year, according to JLL, while average foot traffic was up 27% in January 2022 over January 2021. DigitalSignageToday reports that “industry experts believe the mall is ready for a comeback. It will look different, though, and leverage technology...

Inventive Incentives Aug18

Inventive Incentives

Even with multifamily rents continuing to rise nationwide, property owners still need to work to get people into their units. At the height of the pandemic, some renters in metros like Los Angeles, Boston and San Francisco relocated to lower-cost communities, prompting landlords to adopt creative measures to attract and keep renters. “Incentives are not what they used to be, primarily because market conditions and expectations have shifted, and offering the right incentives for lease renewals is more important than ever to capture the attention of today’s busy renters,” according to Zillow. Here are some ideas that can help property managers attract prospects and maintain high-quality residents, courtesy of Zillow, Multi-Housing News and other industry sources: Upgrade inside and out. Paint or landscaping improvements and new appliances, flooring and furniture can make a property more attractive to residents and prospects. There’s also the option of offering renewing residents a menu for choosing the services or upgrades they value or need most, whether it be a ceiling fan, new shelving on the walls or a better stove. Let free stuff ring. A period of free parking, cable service, laundry or dry cleaning, storage space or Wi-Fi is always appreciated, as is a temporary or permanent suspension of amenity or pet fees. Gift cards for ride-sharing services, food delivery services and more provide other options. “Free parking is the most common perk this year, but there are many ways to engage with renters in ways that are important to them,” ZillowRentals reported in its Consumer Housing Trends report. Amped-up tech. Cutting-edge technology like high-tech door locks, thermostats, tablet devices or smart home automation devices save property owners time and money and make a favorable impression on today’s tech-savvy renters. See how RentCafe Home IQ attracts prospects...