This year’s Changemakers series is nearly coming to an end — we’ve celebrated several phenomenal honorees so far! We’re pleased to be the series’ sponsor for the sixth consecutive year, partnering with Senior Housing News (SHN) to bring you exclusive, detailed interviews that cover each leader’s story. Each honoree has brought a unique perspective to the table, sharing how they’ve grown throughout their career, navigated industry obstacles and most importantly, driven positive change. The Changemaker celebrated today is Gottfried Ernst, COO at Cogir Senior Living, one of our dedicated senior living clients. Through his interview with SHN, Ernst speaks to the value of technology, the unique ways Cogir navigates change and more. Learn from Changemaker Gottfried Ernst SHN: How have you changed as a leader since starting in the senior living industry? Ernst: When I started in this industry, I was more focused on learning and adapting to the tasks at hand. My focus was more on understanding the industry better and developing my skills to best fit. Over time, I’ve developed a deeper understanding of team dynamics, effective communication and the importance of empathy in leadership. As my leadership style matured and I became more confident, empathy and vulnerability has helped me over the years to really connect with people. I’ve learned to delegate tasks more efficiently as well. I trust my team’s expertise and provide support where needed. That has worked for me. Additionally, I’ve become more adept at navigating challenges and conflicts and finding constructive solutions that benefit both the team and the organization as a whole. I’ve evolved into a more confident and compassionate leader who strives to inspire and empower those around me. That’s what I believe and that’s what I stand for. I continuously try to improve how I can be the best leader for my team and for others. SHN: Can you provide an example of a change you’ve made in operations and why you made that change specifically? Ernst: In a former company, I changed the way we gather feedback from residents using technology. I’m a firm believer that successful businesses don’t just give a survey once a year to the customers and allow them to weigh in. I believe in continuous serving of our residents, team members and customers to be able to really get a holistic and full picture of what we can do better. That was an area that I dove into and made a change to and it worked really well. Another example is I worked on a program that allowed our Illinois customers to choose what package they would like to be part of when they move into the community, what service package they want with housekeeping and more. It was a dynamic senior housing concept where the customer is in the driver’s seat in what we offer, not us. It was not easy to execute economically, but certainly something that I’m very proud of. Then in the post-Covid era, it’s important to give team members more flexibility and truly allow them to be in control, similar to the residents. I implemented different ways of providing shifts, applying for schedules, and allowing our people to actually tell us when they can work versus the other way around. That made an impact on the retention side and certainly helped us with staffing on the clinical side as well. SHN: In your opinion, what is the single greatest driver of change in the senior living industry today? Ernst: Change in resident demand, desire, and what they’re looking for as we continue to gain occupancy, margin compression, and staff retention. Those are the three main drivers that drive change in our industry today and will continue to do so. Read Changemaker Gottfried Ernst’s entire interview Check out the full Changemaker interview with Gottfried Ernst. If you’ve followed the series since the start, we hope you learned something valuable from...

Aquariums, often a topic of debate among some, are more than just attractions. Did you know that most aquariums are nonprofit organizations firmly committed to conservation and sustainability? This summer, let’s dive into the world of America’s top aquariums and discover the incredible work they do. Georgia Aquarium, Atlanta. This aquarium, the largest in the Western Hemisphere, is not just a home to the majestic whale sharks but also a hub of groundbreaking research. Since 2004, the aquarium has been studying whale sharks in the wild, an unparalleled research opportunity. The DNA studies conducted by scientists at the Georgia Institute of Technology, based on tissue samples collected from the animals at the aquarium, have led to the first-ever complete shark genome map. In addition to whale sharks, the Georgia Aquarium is a leader in conservation efforts for endangered species, sharing the experience and knowledge from innovative strategies to effective on-the-ground action. Former president and CEO of Georgia Aquarium, Dr. Brian Davis, said, “Georgia Aquarium has been at the forefront of aquatic science for years, making important breakthroughs for marquee marine species. Our commitment to protecting our ocean is unwavering.” Monterey Bay Aquarium, California. This gorgeous aquarium is known for its 28-foot-tall Kelp Forest, one of the tallest aquarium exhibits in the world! In addition to the Kelp Forest, Monterey Bay offers tufted puffins, sea otters, and deep-sea animals, including transparent glowing jellyfish. As far as sustainability is concerned, Monterey Bay Aquarium is committed to reducing sources of ocean plastic pollution. It practices what it preaches by ensuring all its retail operations and the products it sells align with its mission. By the end of 2024, the aquarium is working toward its apparel made from synthetic blends. Plush toys are all made with 100% recycled materials. And at the end of 2023, they eliminated 100% of hard plastic toys and gift products. National Aquarium, Baltimore. The National Aquarium attracts over 1 million visitors annually to view its more than 20,000 aquatic animals, including an interactive and fully immersive dolphin show. However, such a large, resource-heavy production takes a lot of energy. The institution has committed to reducing its greenhouse gas emission to net zero by 2035, including some activities such as tree-planting projects to help address climate change. Laura Bankey, the aquarium vice president of conservation programs, says, “We feel it’s important as a leader in the industry and as a leader in Baltimore to show people that it can be done and must be done. Going all in on climate means every decision that we make in the future has to use climate change as a filter.” Shedd Aquarium, Chicago. This aquarium aims to promote compassion for animals and conservation efforts with an up-close view of an array of aquatic animals, including giant Pacific octopuses. They also offer a conservation eco-tour in the summertime with guided kayaking outings on the Chicago River. Shedd Aquarium is also committed to supporting sustainable fisheries to benefit the ecosystem and all that rely on them. Shedd also grows organisms like zooplankton at the bottom of the food chain through a live foods program. Live foods reduce the need to source food from the ocean and decrease the packing waste and carbon footprint generated from shipping food. Shedd Aquarium just welcomed its newest baby, a Beluga whale, last month, the firstborn since 2020. Births at aquariums like Shedd provide invaluable insights for scientists and conservationists alike. Tennessee Aquarium, Chattanooga. Visitors to this top Chattanooga attraction embark on an underwater adventure from the mountains to the sea. This unique aquarium is divided into two buildings for freshwater and saltwater exhibits. The aquarium conducts several scientific studies by restoring the region’s natural ecosystems and educating the public to take conservation action. With its riverfront facility, the aquarium is growing its capacity to actively protect the health of the river water and the fantastic, diverse animals. A...

AI is top of mind across the real estate industry, and the business case for AI in CRE has become clear. CRE stakeholders embracing AI’s impact on the industry are already employing data-driven approaches to decision making while leveraging AI to improve day to day operations including optimized AP processing and customer service. Following are three ways AI is revolutionizing CRE with tech you can implement now. Chatbots A chatbot is any software solution that simulates conversation using natural language through text or voice interaction. OpenAI’s ChatGPT, Google’s Gemini, Meta’s Llama and Anthropic’s Claude are examples of large language models (LLMs), which draw on vast amounts of data to predict the next word and answer a question or suggest a solution to a problem. Common uses for ChatGPT include writing emails, proofreading and other everyday tasks. Businesses are employing chatbots most often for customer service. In the multifamily sector, owners are using this type of AI to respond to resident questions and maintenance requests, as well as to provide prospects with information about properties. Research shows that a smart chatbot can significantly reduce the number of days it takes to convert a lead to a lease. With regard to saving staff time and optimizing efficiency for maintenance processes, during a call to report a clogged sink, for example, a chatbot can take the resident through steps to resolve the problem before issuing a maintenance request or connecting them with a property team member. Managers at office, retail and industrial properties can use ChatGPT in similar ways. Yardi employs ChatGPT in its natural language processing solution to improve the accuracy of its responses to client questions. Yardi’s chatbot now resolves 80 percent of inquiries that previously required the attention of a customer service representative. As a result, team members are freed up to tackle requests and issues where solutions aren’t readily available and more expertise is required. Web content solutions A widespread lack of website compliance with the Americans with Disabilities Act (ADA) touched off a wave of federal legal challenges beginning in 2018. By creating environments where website users can participate equally, operators can avoid this legal risk and foster seamless interaction with digital content. In recent years, emerging AI platforms in web development have begun to provide solutions to address ADA compliance issues, according to Equally AI, a developer of website accessibility software. Screen readers and natural language processing can analyze and interpret web content, providing auditory cues to assist users with visual impairments, for example, while conversational AI speech recognition capabilities allow users with mobility impairments to interact with websites through voice commands. AI-powered captions and transcriptions provide similar benefits to those with hearing problems. Other solutions include AI-driven interface enhancements such as adaptive design and intelligent navigation, which can adapt websites based on user preferences and behaviors. Machine learning In recent years, Yardi employed a full-service invoice processing center for 60 million annual client invoices, where teams would manually scan, key and code invoices into client environments. This would then initiate the workflow for invoice approval. But over the last three years, the company has migrated that activity to machine learning. Vendor names, invoice numbers and line item details are now encoded into the accounting systems for fully automated processing. Employing machine learning to this tedious, time-consuming task has not only improved accuracy but has also produced cost savings, which Yardi is passing onto clients. “These are very simple tasks, but the machines need a lot of data and experience to achieve a high level of accuracy,” said Brian Sutherland, a Yardi vice president. “We certainly have that data at scale.” Similar endeavors Yardi is working on include a lease extraction solution. That will pair machine learning with a chatbot to identify, collect and organize lease expiration dates, rent step-ups, options and other pertinent information that is typically buried in dense contract verbiage, making it difficult...

It’s time to overcome the limitations and inefficiencies of disparate systems. Life plan communities (LPCs) or continuing care retirement communities (CCRCs) can do so with the Yardi Senior Living Suite, our fully integrated solution that unites community management, finance, marketing, business intelligence, resident care and more on a single platform. As a leading tech solution in the industry (with 40+ years of experience and Forbes Cloud 100 recognition), the Senior Living Suite offers everything your communities need to unify operations, increase occupancy and most importantly, deliver the highest quality care. We put together a quick, informative infographic to show you how it works: Create a foundation for success with integrated senior living software Explore the Yardi Senior Living Suite Not every software solution is efficient. To meet the unique demands of your communities, you need a full suite of tools that are mobile, intuitive and efficient. Our single connected solution checks every box and helps you lower your total operating cost, eliminate duplicate data entry and enable a seamless transfer of information between operational divisions. Unlock functionality built for LPCs and CCRCs Help residents age in place as they progress through multiple lines of service including independent living, assisted living, memory care and skilled nursing. Ensure consistency and accuracy with centralized resident profiles, starting at the prospect stage. Eliminate siloed data and the need to re-enter information during move-ins and care-level transfers. Provide a continuum of care — at varying levels — on a permanent or temporary basis as resident needs change. Streamline pre-move-in and ongoing assessments, the clinical intake process, medication management, incident tracking and behavior management across all care levels. Help residents live their best lives with care-level-specific wellness and engagement tools. Maximize financial reconciliations with a built-in general ledger accounting system that offers real-time reporting and transaction-level drilldowns. Track entrance fees and streamline the monthly amortization process for A, B and C contracts. Customize and scale your software build to fit the unique requirements of your communities. Start with Voyager Senior Housing, the cornerstone product required, then add additional solutions across the Yardi Senior Living Suite to meet your needs. Learn more from team Yardi Want the full scoop on how our technology supports senior living communities? Continue exploring the infographic then reach out to book time with our...

Miscommunication is common in many workplaces and can negatively impact productivity and relationships. Let’s navigate office politics and miscommunications with these best practices and learn how to boost office morale by turning setbacks into success. Common causes of miscommunication are lack of clarity in messages, assumptions, generational or cultural differences and ineffective listening. All of which will inevitably lead to negative office politics, potentially impacting workplace harmony and career progression. Ineffective workplace communication costs U.S. businesses $1.2 trillion—or $12,506 per employee annually, according to a report by Grammarly. Improve communication skills by actively listening without interruptions, summarizing what the other person said, and asking clarifying questions. For instance, if unsure about a task, ask, “Could you clarify the deadline for this project?” Don’t be scared to ask questions because the more knowledge on the subject at hand, the better the outcome. Always have clear and concise messages using straightforward language, avoiding jargon and always being specific. For example, many use Microsoft TEAMS or Google Slack to communicate with employees. Both are great programs that keep everyone on the same page. Remember, when messaging someone on one of those programs, do not lead with a simple hey and nothing attached. Most people are very busy and don’t have time for ineffective TEAMS/Slack messages. In the office, pay attention to nonverbal communication, such as body language, facial expressions and tone of voice. Sometimes it is not “what” the person said, but “how,” they said it.  Regular feedback and check-ins with the team are not just essential. They are the lifeline to keeping a straightforward schedule and avoiding miscommunication. Schedule regular, one-on-one meetings to ensure alignment and address communication issues early. This proactive approach will prevent misunderstandings and foster a culture of open communication and mutual support. Build positive and authentic relationships. Unfortunately, office politics is all too real. To navigate this, build positive and genuine connections with colleagues across different departments and levels. Stay professionally neutral, and avoid taking sides at all costs. Advocate for transparent decision-making processes and fair treatment of all employees. Dorie Clark, professor of business administration and published author on LinkedIn, says, “Create goodwill with colleagues by adding value through small gestures, sending a congratulations note, inviting them to an event and assisting with social media. It’s not about lavishing someone with expensive gifts. It’s about knowing what they’d value and trying your best to make a gracious gesture.” Be diplomatic in communication, especially in sensitive situations, to avoid unnecessary conflicts of interest. Clark noted, “When it comes to office politics, some may think you have to be a cutthroat operator, but really, it’s about forging real connections and creating space to be yourself and help others do the same.” Zoom and video conferencing can sometimes make it hard to read the other person. However, according to the Forbes Human Resource Council, “Follow up after a meeting, ask more questions and give the benefit of the doubt. Everyone is going through their own set of challenges, so exert your kindness muscle. If you’ve seen some unusual office politics, take the high road. You want to be remembered as someone who leads with integrity.” By handling office politics with integrity, individuals will have respect and will focus on their professional growth and contributions. Boost office morale. Foster an environment where all employees feel valued and included. Encourage work-life balance with flexible work hours, remote options, and respect for personal time. Provide a healthy, comfortable work environment with amenities like ergonomic furniture, healthy snacks, and wellness programs. Organize some team-building activities to encourage teamwork and build strong relationships. For instance, since the Summer Olympics has kicked off, enjoy a week of office Olympics with physical and mental activities and host a small opening/closing ceremony—craft awards and medals unique to the office with the company’s logo. The Games will be sure to improve collaboration and promote unity. Mistakes happen. After all,...

Team Yardi had a fantastic time attending the NAHRO Summer Symposium in Chicago earlier this month. We’re proud to continue our role as a NAHRO supporter and diamond sponsor.   The event celebrated the 50th anniversary of the Housing Choice Voucher program and the opening of the National Public Housing Museum. Attendees participated in informational sessions focused on the past, present and future of the affordable housing industry. “It was a wonderful opportunity to connect with our clients and learn about what’s on the horizon for the industry,” said Stevan Henning, senior account executive. The conference We were warmly welcomed by NAHRO President George Guy, who opened with a lighthearted discussion on the history of music and culture in Chicago. It was a jam-packed schedule, keeping us on our toes the entire time. We learned about various topics in the housing industry including: Updates on the Move to Work Demonstration Improving Community Choice in the Voucher Program HUD’s New Inspection protocol, NSPIRE Level 5 Upfront Income Verification Public Housing Preservation, Climate and Energy Resources National Public Housing Museum tour One of the standout moments was the tour of Chicago’s National Public Housing Museum — the first institution of its kind dedicated to telling the story of public housing in the United States. “Housing insecurity is a leading issue of our time. Having an institution dedicated to educating people and sharing stories is incredible. Touring the facility was heartwarming, the stories were touching, and the lessons were rewarding,” said Jeanette Porter, PHA sales manager. Streamlining the Verification of Income: panel session Yardi teamed up with Heather Gaines from Cuyahoga Metropolitan Housing Authority and Alice Kimbowa from Seattle Housing Authority in a panel session discussing income verification challenges and strategies. Mary Beth Snyder, Yardi industry principal, delved into some key issues facing income verification such as: Applicant fraud Lower staffing levels Varied income sources HUD’s highest level of income verification for new applicants is upfront income verification (UIV) using non-HUD systems. While many agencies use The Work Number for UIV, more cost-effective data providers and electronic data sets are available. Using electronic data verification enhances program integrity, improves administrative efficiency and reduces steps for applicants. Attendees learned how UIV costs are justified by addressing current challenges and opportunities. Thank you NAHRO for the opportunity to speak on this pressing matter housing authorities are facing. We hope attendees found value in our panel session.   Client spotlight Connecting with clients at events like these is always a highlight. Jeanette had the pleasure of meeting with April Thompson of Rock Springs Housing Authority.  April was thrilled to share that her team is now live on Yardi Voyager. She noted that the transition to Yardi was smooth, thanks to our dedicated team that ensured everything was up and running. We look forward to our future partnership with Rock Springs Housing Authority and supporting their continued success with Voyager. Final thoughts The NAHRO Summer Symposium offered our team a chance to connect with the community, celebrate milestones and reflect on the importance of public housing. We look forward to continuing to support NAHRO and contributing to the future of the industry. Curious about our commitment to public housing? Learn more about our solutions for PHAs...

Want to save 1.5 hours per move-in? It’s achievable with RentCafe Senior CRM, our mobile-friendly, integrated CRM solution. Take it from Morning Pointe Senior Living, an organization with 38-plus communities that’s using the electronic leasing workflow in RentCafe Senior CRM to drive success. In addition to saving time during move-ins, Morning Pointe has also drastically reduced paper costs, mitigated errors and empowered staff since adopting our CRM solution. We interviewed the Morning Pointe team to showcase their successes’ significance — and we’re excited to present it all in a brand-new case study. Read on for a highlight. The challenge: Tedious paper processes Morning Pointe previously used paper to generate leases, collect signatures and store records. With lease agreements averaging at 80 pages each, daily processes were time-consuming, susceptible to errors and costly to maintain. The solution: Seamless electronic leasing Morning Pointe now operates with RentCafe Senior CRM, our fully integrated sales and marketing solution that offers a seamless electronic leasing workflow. Communities are mitigating errors, empowering staff and experiencing significant time and cost savings. The results: Time savings, a reduction in costs and more With RentCafe Senior CRM, Morning Pointe is streamlining every stage of the leasing workflow. Time savings: Rather than devoting time to printing and assembling paper leases, Morning Pointe can now generate documents with ease — all digitally. With RentCafe Senior CRM offering intuitive features to quickly create, sign and store every file needed, communities are saving approximately 1.5 hours per move-in. Going paperless: With help from RentCafe Senior CRM, Morning Pointe is reducing costs, mitigating errors and eliminating wasteful practices. With all documents centralized on an electronic platform, leaders rest assured that they’re operating efficiently — and being environmentally friendly. “Switching from our old paper system to the digital leasing program by Yardi has helped bring Morning Pointe forward in technology — and in customer service,” shared Doru Mihaescu, vice president of information technology at Morning Pointe. Read the case study See more of Morning Pointe’s success in this short client spotlight, then read the full case study to delve deeper....

Yardi has been named to the 2024 Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. Yardi was a member of the inaugural Cloud 100 in 2016 and was No. 36 this year. “We’re honored that Yardi continues to rank among the top private cloud companies worldwide,” said Joel Loewen, vice president of cloud services at Yardi. “Since the inaugural list, this inclusion has reflected the continual efforts of our employees to create innovative and impactful solutions for our customers. We take pride in being one of the oldest companies on this prestigious list as well as one of the few that has no external capital.” For the ninth straight year, the Cloud 100 reviewed submissions from hundreds of cloud startups and private companies. The Cloud 100 evaluation process involved ranking companies across several factors, including: market leadership, operating metrics and people and culture. “For nine years, the Forbes Cloud 100 list has recognized the leading private cloud companies in the world, from AI to work software, infrastructure to security,” said Alex Konrad, the Forbes editor of the Cloud 100. “This year’s list is the strongest group of standouts yet, with revenue, valuations and growth that will eventually make for historic IPO’s.” “Across nine years of data, we have yet to see as competitive of a cohort as the 2024 Cloud 100.  The list value reached $820 billion this year, the highest list value in Cloud 100 history,” said Mary D’Onofrio, partner at Bessemer Venture Partners. The Forbes 2024 Cloud 100 is published online at forbes.com/cloud100 and will appear in the August/September 2024 issue of Forbes magazine. Celebrating its 40-year anniversary in 2024, Yardi develops industry-leading software for all types and sizes of real estate companies across the world. With 9,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com. About Bessemer Venture PartnersBessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio). About ForbesForbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 43 licensed local editions in 69 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. About Salesforce VenturesSalesforce Ventures helps enterprising founders build companies that reinvent the way the world works. For over 15 years, we’ve invested in and partnered with more than 400 of the world’s most tenacious enterprise software companies from seed to IPO, including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom. Salesforce Ventures leverages our decades of expertise in the cloud and our long-term relationships with key decision-makers at thousands of businesses around the world to give our portfolio companies an advantage, help them build credibility, and accelerate growth. Salesforce Ventures has a $5BN portfolio of 300+ companies in...

Chat IQ is helping one million units with seamless communication! To celebrate this milestone, we spoke with Chat IQ’s biggest fans: Top property managers in the industry. Discover why the industry loves this powerful bot and how it all creates a domino effect when it comes to driving efficiency in their organization. Backing it up with the numbers “We’re thrilled about the unit milestone,” said Paul Yount, industry principal at Yardi. “It means that our valued clients trust us with their AI bot needs.” This year to date, Chat IQ has handled over four million inbound messages for our clients and their agents. This resulted in over 225,000 hours saved, according to Yardi data. One of the standout benefits is the improvement in what Yount refers to as “speed to lease,” or the time it takes for a prospect to become a resident. Chat IQ accelerated the time it took for a prospect to sign a lease by up to seven days. “Days equal dollars when it comes to vacancy, so this is really improving not just the efficiency of the onsite teams, but the community and client’s bottom line,” Yount concluded. About Chat IQ Chat IQ answers prospect and resident questions around the clock through chat, email, text and calls. It frees up your staff to focus on higher-level activities they enjoy more than answering repetitive questions. Chat IQ instantly answers almost all customer base intents, connects customers to real agents if needed and now includes support from Yardi when your agents are unavailable. Our clients say it best Chat IQ has garnered praise from top property managers for its outstanding performance and benefits it brings to their operations. Here are some of the key advantages that make this AI-powered bot an industry favorite. Enhanced efficiency Chat IQ can answer 97 percent of questions without needing to learn anything new, eliminating the need for constant data reentry. Carrie Bakke, senior systems analyst at the Lund Company, shares her experience, stating, “In the first six months after we rolled out Chat IQ, we had an average of three leases per month that were generated entirely from the bot. It freed up approximately six hours a day spent answering questions. And all of that information has been provided without our site teams having to lift a finger.” Freed up time for leasing agents Chat IQ allows community team members to do more valuable and meaningful work, while providing the immediacy today’s consumers expect. “Chat IQ is there day or night, business day or holiday,” said Yount. The ability to operate around the clock has made a significant impact on leasing teams. Leslie Henry, SVP at Towne Properties, notes, “After we implemented Chat IQ, our site teams quickly realized how useful it was in gaining back time. They love how it filtered out less promising leads in the beginning. We let them customize some aspects of the responses so there was more of a personal human touch.” Proven ROI For others, Chat IQ is simply about the return on investment. Jason Gherardini, SVP of IT at Sares Regis Group, highlights the value Chat IQ brings, saying, “We get true ROI with Chat IQ from the first conversation, discussion, all the way to lease. It’s a good product.” And it’s getting even better with a new AI update We’re excited to announce that Chat IQ is now more efficient, more impactful and more streamlined with several AI enhancements: Customizable brand tone: Chat IQ matches your company’s unique voice and style, creating consistency in each conversation. OpenAI ChatGPT integration: Prospects and residents will enjoy more natural, human-like interactions. Better interactions: Chat IQ now responds dynamically to questions, moving beyond templated responses to provide a more interactive experience. Multi-question handling: Seamlessly address multiple questions in a single chat, such as “What’s the pet policy, the nearest dog park and the pet deposit?” New voice...

“I love change, but I don’t like change for change’s sake. I like thinking about the why around what it is that we’re trying to achieve.” That quote comes from Brandon Ribar — CEO of Sonida Senior Living, one of our amazing clients — in an interview with Senior Housing News (SHN). Ribar is an honoree in this year’s Changemakers series, which spotlights innovative, dynamic leadership in the industry. We’re proud to join SHN in presenting the 2024 class of visionaries, sharing the insights gathered during their in-depth interviews. In leading one of the nation’s largest senior living organizations, Ribar has extensive knowledge to share — including his growth strategies, focus on employee feedback and more. Get a snapshot of his interview below.   Meet Changemaker Brandon Ribar SHN: In what ways do you think that you’re a changemaker? Ribar: I put culture first and believe that Sonida is going to be successful only based on whether or not we have the best people working with us at Sonida. I continuously push not only the industry, but our company to bring people into the industry and to elevate people from within who really want to push hard to deliver that change. Where I’ve really pushed hard for change is in the types of people that we surround ourselves with, but also how hard we push to be something that’s special and differentiated in senior living. That’s what I love to bring to the discussions that we have and to not accept that what we do today is anywhere near good enough. We have to be better and better every day. SHN: Can you talk about a time when you try to execute a change and things didn’t go according to plan? How did you pivot and what did you learn as a leader? Ribar: I’ll go back to making decisions that I fundamentally believe were good ones but skipping the step of ensuring that the people that were really responsible for the day-to-day execution were involved in that development. I pivoted by immediately ensuring that it had nothing to do with me being the generator of the idea. It was really their idea. I was simply a conduit that brought to them options to think about. When people really feel like it’s their idea and their model that’s changing, then they will go full speed ahead. They’ll be excited about it. SHN: Choose one artist, scientist, thinker, entrepreneur, or other person living or dead to help change the senior living industry for the better. In only a few words, who are you choosing and why? Ribar: Steve Jobs is somebody who saw beyond what people thought that they needed, and he created products and services that people gravitated to because they were something they hadn’t thought about. That level of innovator who just has an ability to understand the customer and to develop things beyond what the customer thinks they need, that is senior living. Another person is Taylor Swift. If Taylor Swift did her concerts and her songs from senior living communities and told people about how cool of an experience it was with residents and sang all day about senior living, we’d get pretty good exposure and build our reputation that way. Jobs innovates, and then Swift’s going to sell it for us. Learn more from Changemaker Brandon Ribar Don’t forget there are more insights from Brandon Ribar — read his interview with SHN. If you’d like to explore the Changemaker interviews we’ve highlighted recently, visit our blog home page and social...

Affordable housing may very well be the most complex component of the multifamily rental housing industry. Its regulations under federal, state and local programs are challenges that require expensive training and years of professional experience to master. Web developers using a computer together in a creative office. Two business people working on a new software developing project in an office. Given the complexity of doing business in affordable housing, it’s no wonder many organizations choose to contract with third-party compliance vendors such as Yardi RightSource. Chris Voss, Yardi vice president of affordable housing, founded RightSource in 2006. His company found its way to the Yardi family in 2020, creating a unique opportunity for Yardi clients to easily add compliance expertise to their team without having to recruit, hire or train new employees. “I’m proud of the team we’ve built and the services we provide. The numbers show RightSource is not only a successful product for Yardi, but is creating tremendous value for our clients. It’s truly a win-win as our client list grows and we deliver on our promise of reducing the cost and complexity of compliance for affordable housing providers,” says Voss. Let’s take a look at some key metrics to learn more about how RightSource creates value for its clients. Note: You’ll see the term “file” come up a lot in these stats. A file, in this case, means all of the documentation that a household must provide to an affordable housing provider to qualify for a unit. Files are the backbone of compliance as they are audited and reported on throughout the residential lifecycle in affordable housing. 24 hours In general, RightSource advises clients that a file submitted for review will be returned within 24 hours. That’s a stark difference from relying on in-office team members who may or may not be up to date with current regulations, or who may lack industry knowledge to make a truly informed decision of completeness within such a short period of time. AAMCI, a Yardi RightSource client since 2020, attests to the timeliness of file reviews. “RightSource delivers fast file reviews within 24-hours or less. That commitment and reliability helps us fill units faster with the confidence of knowing the data used to approve the file matches our records in Yardi Voyager,” said Deedra Burroughs, AAMCI chief financial officer. 220,000 files, annually Affordable housing providers submit approximately 220,000 files for review every year. That’s as of July 2024, and the number continues to grow. 10 minutes On average, RightSource auditors can actually complete a file review in just 10 minutes! Leveraging proprietary technology that sorts files, automates financial calculations and digitizes file data, the RightSource team and its decades of combined experience completes reviews with impressive speed. 1,900 files, monthly RightSource’s most active client submitted nearly 2,000 files in a single month last year. Imagine how many staff resources that would have required if completed by an in-house team of housing specialists instead of contracting with RightSource. Complete files in less than 1 week On average, it takes three RightSource reviews, each returned to the client usually within 24 hours, before an affordable housing file is determined to be complete and compliant with all applicable federal and state program mandates. If an applicant household can resolve file deficiencies quickly, they’re likely to be certified to live in a unit in less than a week. That’s a fraction of the time many affordable housing providers spend qualifying households without RightSource. Nearly 500,000 units RightSource clients own and operate nearly half a million affordable housing units. More than half of those fall under the Low Income Housing Tax Credit program which is overseen and run by housing finance agencies in all 50 states. RightSource keeps forms current for its clients for LIHTC programs and continuously updates them as each state makes programmatic changes. HUD 50059 units total more than 130,000, and...

Most people realize that carbon emissions come from heating, cooling and lighting buildings, houses, roads, bridges and other elements of the built environment. But there’s another significant source of carbon whose environmental implications might be less visible but no less urgent: embodied carbon, which comes from the extraction, manufacturing, transportation, installation and disposal of materials such as steel, concrete, insulation and drywall. Buildings account for about 39% of global energy-related carbon emissions, with about 28% coming from operational emissions and 11% from materials and construction. For new buildings, embodied carbon emissions typically equal about 20 years of operating emissions. With the world’s building stock expected to double by 2060 – the equivalent of adding an entire New York City to the planet every month – the World Green Building Council calls managing embodied carbon a “significant yet often understated role on the path to net zero,” with “the built environment sector [having] a vital role to play in responding to the climate emergency, and addressing upfront carbon is a critical and urgent focus.” “Reducing embodied carbon from construction materials is essential to effectively addressing climate change,” adds the U.S. Environmental Protection Agency. Evaluating the level of embodied carbon involves completing a whole building life cycle assessment. This process examines the quantities of materials and products used and where they came from, from sourcing through construction and use to end of life disposal. With this assessment in hand, developers can make carbon-smart choices during design, procurement and construction. The movement to control embodied carbon is growing. For example, the EPA and other federal agencies have formed a Buy Clean Task Force that encompasses 90% of federally financed and purchased construction materials. State and local governments along with private sector institutions have adopted similar initiatives. The Inflation Reduction Act of 2022 also provides grants, tax incentives and loans to procure low-carbon materials for construction and renovation projects. “Finding creative ways to reuse existing buildings is an increasingly important strategy for reducing embodied emissions. The urgent need to reduce greenhouse gas emissions in the short term means that the calculus for saving rather than demolishing an existing building has changed and is now weighed much more heavily against demolition,” according to AIA California, an 11,000-member advocacy group for architects. Benefits of attention to embodied carbon include presenting more marketable buildings for buyers, lessees and investors to whom a building’s climate impact is important.  Steps that can reduce embodied carbon include: Focusing on high volume materials, since between 50% and 75% of embodied emissions typically come from the concrete and steel in the foundation and structure. Renovating and upgrading buildings where possible, especially the foundations and structure where most of the embodied carbon lies. Seeking out recycled content materials; the embodied carbon footprint of new steel and aluminum can be five to six times that of high recycled content. Salvaged materials such as brick and wood typically have a much lower embodied carbon footprint than newly manufactured materials. Global business consultant firm McKinsey & Company says, “Open data and collaboration across silos are going to be key, and the technology the industry uses to measure and reduce the environmental footprints of buildings is starting to reflect that. With new models of collaborative solution development powered by connected data, it may become possible to cut GHG emissions dramatically in less than a generation.” Yardi is a real estate technology leader and ENERGY STAR® Partner of the Year Sustained Excellence winner awarded by the EPA and the U.S. Department of Energy. See our comprehensive solutions for managing costs, consumption and reporting across a...