See Brightwater’s Success

“The centralized location of all the information in the Yardi Senior Living Suite is a game changer.” That quote comes from our brand-new success story featuring Quintin King, president at Brightwater Senior Living. King joined us for an insightful interview to share Brightwater’s positive, transformative experience with Yardi Voyager Senior Housing, Senior IQ, EHR and RentCafe Senior CRM. We got a front row seat to the challenges Brightwater faced before working with Yardi, then a detailed look at their successes since making the switch. Read on to see how the above solutions (all housed on a single platform as part of the Yardi Senior Living Suite) are helping Brightwater drive efficiency, save time, mitigate errors and more. Meet Brightwater Headquartered in Oregon, Brightwater Senior Living designs spaces, services and amenities which adapt to the life, needs and choices of residents. Brightwater has worked to create beautifully designed, meticulously managed communities (13 in total) staffed by the highest caliber senior living professionals. Read more about Brightwater’s journey and commitment to care. The challenge Brightwater used to rely on disparate technology solutions and manual processes. Not only did this approach require teams to navigate multiple systems and platforms, but it was also time consuming, costly and prone to errors. The solution Brightwater chose the Yardi Senior Living Suite since it seamlessly connects every tool they need on a single platform. Teams now work smarter, faster and more efficiently with an intuitive, integrated solution hosted on the cloud. The story Since moving forward with the Yardi Senior Living Suite — which automates processes and integrates workflows — Brightwater is building success like never before. This includes:   Gaining hours back across teams — now that Brightwater is no longer navigating disparate systems and manually transferring data, teams are experiencing significant time savings. Voyager Senior Housing, Senior IQ, EHR and RentCafe Senior CRM offer secure integrations and real-time information sharing — helping leaders and staff complete tasks faster than ever. Unlocking a 75% reduction in manual reporting — with Yardi automating processes Brightwater previously did manually, operations are smoother, teams are empowered and errors are mitigated. With Senior IQ in particular, teams have access to readily updated data and reports via attractive, sharable dashboards — meaning a majority of Brightwater’s manual reporting efforts are no longer necessary. See more of Brightwater’s success If you’d like an even closer look at Brightwater’s wins with each solution, we’ve created a more in-depth resource to share with you. Read Brightwater’s complete success story here. If you’re interested in booking a demo to see our senior living solutions in action, reach out to our...

Mary LaForge Jan04

Mary LaForge

Yardi’s global offices make essential contributions to property management and investors worldwide. Today, meet Mary LaForge, director of programming for Public Housing Authorities (PHA), out of the Santa Barbara office. Meet Mary LaForge Mary LaForge has been with Yardi for 21 years. She oversees a team that includes programmers, quality assurance (QA) specialists and technical writers. She also works with the PHA team in Pune, which again consists of programmers, client-services (CSD) support staff, software conversion experts and QA specialists. “I collaborate with our team as we implement compliance changes in our current products and develop new products, such as Compliance Manager and Asset IQ, on the new Elevate platform. I work closely with HUD to understand policy changes that impact our software,” said LaForge. Subsidized housing is a challenging and complex market. Working on HUD compliance changes is not easy. Gathering the complex information needed to implement the required changes successfully can be difficult, and there is pressure to deliver on time. “I view these challenges as an opportunity to excel and grow for Yardi to be a standout vendor in the PHA market. I am fortunate to be working with the talented individuals on our team. I treasure and enjoy our team’s extensive collaboration, ” LaForge expressed. Working as a member of the PHA team gives LaForge pride and satisfaction because the software helps housing authorities provide housing for the underprivileged. “In an indirect but substantial way, I believe I am contributing to communities nationwide,” LaForge shared. In addition, LaForge works and helps the sales team with prospective client demonstrations and participates in client meetings. Longevity with Teamwork Yardi is a unique and welcoming company. Collaboration is intentionally and strongly encouraged. Everyone’s ideas and opinions are heard and respected. “In meetings with peers, vice presidents, or the CEO, everyone feels comfortable providing their thoughts and suggestions. We may intensely and passionately debate how to solve an issue at a meeting, but we can feel comfortable going to lunch with disagreeing people. When a solution does not go as we hoped or planned, we correct the issue, learn from it, and move forward,” explained LaForge. New hires are always astonished when they discover how long LaForge has been working with Yardi. “In one of the interviews, there were three of us on the panel, and the collective time spent with Yardi was fifty years! This number is incredible and sometimes unfathomable to these prospective employees,” said LaForge. Yardi’s corporate culture gives opportunities to work with incredibly talented individuals and hard-working teams to create, contribute to, grow, and develop exceptional products that help communities worldwide. Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. An Advocate for Education LaForge grew up in India and came to the U.S. for a master’s degree. While in India, LaForge was involved with a few organizations for children’s education. Lack of access to education is a significant challenge there. “I believe education is the only way to narrow this divide. Being a parent of a young child has taken away any extra time for doing this wonderful and satisfying work. But someday soon, I hope to become involved in childhood education again. I am especially interested in education at the elementary school level. My heart very much wants me to do this work in India, possibly starting a school in underprivileged communities there,” explained LaForge. LaForge’s daughter is nine years old and keeps her super busy. However, time is limited with her when LaForge is traveling for HUD and conferences nationwide and to Pune. Therefore, she tries to spend as much time with her daughter as possible when she is home in Santa Barbara. “We love to travel as a family. I believe traveling to other countries and learning about other cultures at a young age can nurture tolerance and develop deeper empathy for all human beings,” LaForge shared....

Traffick911 Jan03

Traffick911

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. Today, we introduce Traffick911 of Addison, Texas, founded in 2009. Traffick911 exists with the sole purpose of freeing youth from sex trafficking by building trust-based relationships. Traffick911 has a 24/7 crisis response Voice & Choice Program team that walks alongside child sex trafficking victims along with multi-disciplinary team partners. Traffick911 hopes to expand its advocacy team so more child survivors of sex trafficking have an advocate. “Advocacy at Traffick911 is built upon trust-based relationships, meaning that we go deep with the youth we serve and those in our community,” said Dominique Arce, mission engagement coordinator for Traffick911. In addition, the organization hopes to provide further support to families and caregivers with their children during recovery periods. Funding from Yardi helps Traffick911’s mission and allows them to expand their impact to serve more kids than ever. Advocates spend nearly every day in the community meeting with youth and walking alongside them in their freedom journey. Through play and fun activities, advocates build trust and can work towards Traffick911’s goal of seeing communities free from relationship deviation. “We are completely humbled and grateful to Yardi! During our weekly team meeting, we had the chance to share the news with our entire staff. You should have heard the cheers! Every dollar given to Traffick911 is a YES to a child sex trafficking survivor. Truly, we would not be able to impact the lives of the survivors we serve without you. We are grateful,” expressed Arce. Alaina’s Freedom Journey “Oftentimes, when we begin our journey with a survivor, their exploitation has been extensive—rarely are we able to intervene in the...

Meal Kits: Worth the hype? Jan02

Meal Kits: Worth the hype?...

With so many meal delivery services out there, who is the best? If you want to join one but are overwhelmed with marketing emails and social media ads, we researched the offerings to see who ranks the best on price, tech-savvy, customer satisfaction and dietary options. Hello Fresh Hello Fresh started in 2011 in Germany and has been the most popular meal kit service worldwide. The company boasts of being budget-friendly, fresh, tasty and sustainable. With over 7 million active customers and over a billion in net revenue, this sounds like a no-brainer when selecting them for service. The app is rated 4.7 on Apple and ranks #23 in its charts for food and drink. However, with the pros come the cons. According to Consumer Affairs, Hello Fresh ranks 1.4 stars with unbiased reviews. Many lower rankings for Hello Fresh stated that the food was too small of portions and surprised billing issues. Overall, Hello Fresh appeals best to the working adult for easy, healthy recipes that do not require shopping at grocery stores or searching for recipes, and it’s cheaper than eating out. Blue Apron Blue Apron is an American ingredient and meal kit company headquartered in New York City. It rated 4.7 on Apple and ranks #166 in its chart for food and drink. Consumer Affairs ranks at 2.9 stars. Again, appealing to the working adult, Blue Apron offers conveniently prepared meals and wellness plans for healthier options and even wine delivery for wine suggestions for meals. Blue Apron uses non-GMO ingredients, hormone-free meats and sustainably sourced seafood. However, it does not cater to niche diets such as Keto or Vegan and does not have options to exclude allergens. Plus, many find it to be overloaded with plastic packaging. Home Chef Home...

2023 Highlights Dec31

2023 Highlights

As December comes to a close, it’s time to look back and reflect. 2023 was another remarkable year for Yardi offices and employees around the world. Here were a few of the highlights. Glassdoor Employees’ Choice Award In January, Yardi started off the year strong as we were honored with a Glassdoor Employees’ Choice Award for the third time as one of the Best Places to Work in 2023. The Glassdoor Employees’ Choice Award is based solely on the input of employees, who voluntarily provide anonymous feedback by completing a review about their job, work environment and employer on Glassdoor, the worldwide leader on insights about jobs and companies. “Taking care of our employees and offering opportunities to contribute to our clients’ success are guiding principles at Yardi,” said Anant Yardi, the company’s CEO and founder. “We are honored to receive this prestigious award again from Glassdoor, and we are grateful for the supportive culture that has been fostered at all levels within our organization.” Voyager 8 Unveiled The latest edition of Yardi’s flagship property management and accounting software has much anticipated user-friendly upgrades and features. Voyager 8 will be widely available to clients beginning in January 2024. “The biggest thing with Voyager 8 to get excited about is the user experience. The user interface is completely different. It’s a big leap from Voyager 7S. It’s not a leap in terms of the upgrade process, though,” said Rob Teel, president of global solutions, in September at YASC in San Diego. In addition to the new user experience and simple upgrade process, Voyager 8 is built for compatibility with artificial intelligence (AI), promising a continual opportunity for real estate companies to use the new technology for efficiency and smoother operations. Want to learn more? Reach out to our sales team. Yardi Virtuoso brings AI to real estate This fall, Yardi released Yardi Virtuoso, a multifaceted platform built to shape the future of AI in real estate. Virtuoso delivers automation technology across various applications to expedite workflows, increase efficiency and augment teams for improved performance and better net operating income. “The AI platform automates repetitive workflows and routine tasks to help our clients reach new levels of efficiency. We look forward to seeing its positive impact through 2024 and beyond,” said Akshai Rao, president of residential at Yardi. Learn more about this human-centered approach to AI. Forbes Cloud 100 In August, Yardi was named again to the prestigious Forbes Cloud 100 list, 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 is the only company focused on the real estate vertical this year. “We’re honored that Forbes continues to recognize Yardi for our cloud technology and services,” said Jay Shobe, senior vice president of cloud services at Yardi. “Since the inaugural list, this inclusion has reflected our employees’ continual efforts and our clients’ unfailing support worldwide.” Another major EPA honor In March, Yardi received the 2023 ENERGY STAR Partner of the Year Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy after being named Partner of the Year for five consecutive years. The award celebrates companies that offer energy services and products in the commercial, institutional or industrial markets for successfully assisting clients with strategic energy management and building design. Partner of the Year award winners have committed long-term to fighting climate change and promoting public health through energy efficiency messaging.  Cloud VO acquired In June, Yardi announced the acquisition of CloudVO, the San Francisco-based online reseller of virtual offices, meeting rooms and other workplace services. Laurent Dhollande, CEO of CloudVO, commented: “We are thrilled that CloudVO is now part of Yardi. Our partners will benefit from the Yardi listing service with infinitely more reach and strength than CloudVO could provide...

Office Celebrations

End of year gatherings were abundant this year, with many Yardi offices ending the year with festive get-togethers. Here are some highlights from #TeamYardi celebrations worldwide. In North America, Canada celebrated its 25th anniversary and gathered to celebrate with raffle prizes, dancing and more. The Atlanta office had a fancy holiday reception at the Delta Sky360 club in Truist Park and had a sweet and spicy gingerbread house competition in the office for the end of the year. Michael Sturniolo’s team made an impressive win with a double-decker gingerbread house, “Gingerbread Jack & the Jellybeanstalk.” (See photo in gallery at end of post.) The Raleigh office gathered for a festive evening out with collegues, featuring food, drinks, a photo booth and lots of laughs. On the East Coast, the New York office had a holiday lunch with a surprise VIP guest (Mr. Anant Yardi) at Benjamin Steakhouse, and the Long Island office had a holiday party at Crest Hollow Country Club. Scottsdale, Minneapolis, Salt Lake City, and Boise had fun competitions with games, golf and basketball. In Texas, the Dallas and Irving offices gathered for a fun family night at the Mavericks NBA game. The UK had a holiday celebration at Fairgame in London and embraced some friendly competition, with Harry McBrearty having the most points and winning a 5ft bear! The Middle East celebrated the festival of lights—Diwali- in Pune and Dubai. Dubai also marked the end of the year presentation with a fantastic lunch, a gift exchange and New Year spirit. Additional images from the celebrations can be seen below. Thanks to all the offices who shared photos of their gatherings. Wishing you a safe and joyous holiday...

Reflecting on 2023 Dec29

Reflecting on 2023

As 2023 closes, take some time for reflection and introspection to gain some valuable insights from the past year. Consider exploring the following aspects so 2024 is the most successful year yet! Achievements and milestones. When popping the champagne for the new year, celebrate the big and small accomplishments made throughout the past year. Each achievement is a triumph, a testament to dedication, hard work and perseverance. Whether it was a project that exceeded expectations, a personal breakthrough or a significant professional accomplishment, these moments are the building blocks to success. Remember that milestones are the markers of progress toward a larger goal, and achievements are specific accomplishments. For example, achievements are receiving an award or recognition, whereas a milestone is buying a new home or getting a promotion. Both deserve that extra clink and cheers at midnight! Challenges faced. Challenges and obstacles can be opportunities for personal and professional growth. Some milestones and achievements are challenges that have been conquered. Acknowledge these challenges with pride, for they are the foundation of future endeavors. These insights are invaluable and offer a blueprint for navigating future challenges. Remember, a smooth sea doesn’t make a skilled sailor! Learnings and takeaways. Identify lessons learned from the past year that emphasized personal development and self-awareness. Each lesson learned is a wealth of knowledge. What worked? What didn’t? Reflect on the strategies, decisions, and actions contributing to milestones and achievements. Incorporate SMART goals for the new year and make them a priority. Gratitude. Practice gratitude by reflecting on the positive aspects of the past year. Journalling is an excellent way to practice gratitude and reflect on the year’s achievements and milestones. List everything you’re grateful for and read it daily. Foster a positive mindset for the future. More positivity...

Science of Snowflakes...

Winter is here, which means lots of snow for the Northern Hemisphere. Let’s explore the captivating world of snowflakes by delving into their intricate structure and formation. To quote Aristotle, “To appreciate the beauty of a snowflake, it is necessary to stand out in the cold.” Snowflakes are captivating, with each delicate ice crystal’s unique hexagonal shape. The dendrite form of snowflakes is a study in water chemistry. Professor Krystopher Chutko of the University of Saskatchewan explains, “When ice forms at the molecular level, the angle between the hydrogen and oxygen atoms will always be 120 degrees—put the three of these together to get a complete ring of molecules with a six-sided structure. Since a growing snowflake doesn’t change too much, those attachments tend to occur evenly across the six points of the hexagonal flake. “Molecule by molecule, the snowflake grows and eventually begins to fall. This takes the snowflake to a new part of the atmosphere where temperature and humidity are different, resulting in new ice structures forming but still with the same angles,” defined Chutko. A typical dendrite is made up of about a quintillion individual water molecules. Between that and the slight changes in temperature and humidity, no two snowflakes likely form similarly, resulting in no two snowflakes being alike. Snowflake size and shape are determined by cloud temperature and humidity. The colder the air surrounding a growing snow crystal is, the more intricate the snowflake will be. More elaborate snowflakes are grown when the humidity is high. If the temperatures within the cloud are warmer or the humidity is low, expect the snowflake to be shaped like a simple, smooth, hexagonal prism. The mesmerizing beauty of individual snowflake patterns is incredible. Not only are these minuscule structures very intricate, but...

Spreading Holiday Cheer

‘Tis the season to share sweet and uplifting holiday stories, and there’s no shortage available from our senior living clients! We absolutely love spotlighting their activities and celebrations each year — from Christmas caroling to decorating parties — to bring some holiday cheer to The Balance Sheet. Enjoy the roundup of stories below. Making seasons bright at Pacifica Senior Living Pictured in a recent LinkedIn post, residents across Pacifica Senior Living communities have been decking the halls with Christmas decorations! They’ve also been enjoying events like Pacifica’s Jingle Bell Brunch — a gathering packed with festive food, Christmas caroling and mingling among residents, families and staff. And speaking of staff, Pacifica’s culinary teams are bringing seasonal cheer to their communities through a holiday dessert competition. Each chef is recreating a special dish, sharing the traditions and stories that inspired it! You can read about their merry creations on Pacifica’s blog. Creating holiday magic at Brightview Senior Living At Brightview Senior Living, residents brought the magic of Christmas to life with a festive poem reading. You simply have to watch the video posted on their LinkedIn, which happens to include some residents dressed for the season (spoiler alert, it includes Santa and Mrs. Claus). Brightview Severna Park also had a special visit from Saint Nick during the community’s 10 year anniversary party! The photos shared on social media remind us that it’s truly the most wonderful time of the year. Walking in a winter wonderland at Watercrest Senior Living Watercrest Senior Living is no stranger to holiday magic, which we got to see in this collection of photos on LinkedIn. They’ve created glorious winter wonderlands across their communities with the help of residents and staff! Keeping up with the spirit of the season, they’ve also shared photos from their festival of trees event and a snapshot of residents making holiday-themed crafts. Decorating for the season at Maplewood Senior Living We loved seeing how Maplewood Senior Living created festive fun for residents this holiday season! That includes ornament and wreath-making at Maplewood Orange, pictured on social media. Residents got the chance to hang their creations on trees throughout the community, as well as on their apartment doors.   Happy holidays from team Yardi We hope you enjoyed the holiday highlight featuring our senior living clients. From all of us at Yardi, we wish you happy holidays and a wonderful new year! If you’re looking to connect with us in the new year and learn more about how we support our clients, reach out here....

Multifamily Outlook Dec26

Multifamily Outlook

After two years of stellar growth, rents decelerated in 2023, despite demand still at strong levels thanks to a resilient economy. The 2024 Multifamily Outlook from Yardi Matrix anticipates a year of challenges, including slowing national rent growth. National rent growth moderated to 0.4 percent year-over-year through November 2023, from a combined 23.5 percent in 2021 and 2022. Absorption stabilized at 300,000 apartment units in 2023, compared to 600,000 in 2021 and 200,000 in 2022. Yardi Matrix expects that rent growth and occupancy will be heavily tested next year. Of the 1.2 million apartment units under construction at the start of 2024, 510,000 are expected to be delivered by the end of the year, the highest number in decades. “We expect demand for multifamily to remain healthy in 2024, but headwinds that include slower job growth, increasing supply and waning affordability in some markets will keep rent growth restrained again,” state analysts, forecasting a tepid 1.5 percent rent growth nationally. The 2024 forecast calls for Midwest metros to lead rent growth, and the Sunbelt and West markets to continue to experience in-migration from the coasts both by residents and businesses. Sunbelt markets such as Austin, Nashville, Charlotte and Orlando are already seeing stalling rent growth, and despite robust population and job growth, they boast high levels of new supply, which will further suppress rents. On the investment front, already down by 70 percent year-over-year, multifamily sales will likely remain sluggish in 2024, due to the impact of interest rates and pricing uncertainty. Gain more insights in the latest U.S. Multifamily Outlook from Yardi Matrix. 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...

Protecting Packages

Happy holidays! Tis the season for festive celebrations and heartfelt gift giving. Unfortunately, along with the year-end holidays comes peak season for porch piracy. A porch pirate preys on parcels and steals them from homes. These thieves can strike in any neighborhood at any time and target all sizes of packages. Porch pirates are opportunistic and work quickly. Package theft has been a persistent affliction since online shopping has taken over, and porch pirates show no sign of yielding despite porch theft being a felony in many states. According to a recent statistic from Security.org, 44 million Americans have had a package stolen in the last three months. Porch pirates strike regardless of climate conditions, but some states are plagued by porch pirates more than others. Forbes compiled a list of the worst states with porch piracy packages stolen—New Hampshire ranked first, and Florida ranked last. Luckily, by incorporating some simple measures, you do not have to fall victim to these thieves this holiday season and beyond. Let’s explore some cutting-edge technologies and practical tips to ensure safe package deliveries this season. Outsmart porch pirates with clever strategies such as choosing secure delivery options, using delivery lockers and coordinating deliveries with neighbors to minimize the risk of porch theft. In mixed-use buildings, delivery lockers are the best option for residents and tenants. If working in an office building all day, have the necessary packages delivered to the office. There are various smart mailboxes and high-tech security devices for protection from porch pirates and environmental threats. Perhaps you are pretty fond of your mailbox but would like some smart features. Ring WiFi smart mailbox sensor fits inside the mailbox and will automatically send an alert to your phone in real-time whenever the mailbox is open....

NAMI Greater Cleveland Dec19

NAMI Greater Cleveland...

NAMI Greater Cleveland was founded in 1979 in Cleveland, Ohio. For more than 40 years, this organization has been smoothing out the challenging path that emerges when someone is diagnosed with a mental health condition. This arduous journey is often through feelings of shame, fear and uncertainty and is compounded by a lack of understanding and the persistence of societal stigma. NAMI GC offers free mental health education and support programs as essential bridges and supports medical protocols. Support Groups: Led by trained volunteers, individuals or families provide emotional support and understanding, coping and problem-solving strategies and form a supportive network. Family and Peer Education Courses: families and individuals are offered education courses to understand better mental health diagnoses, treatment, coping, and navigating public assistance and medical care. Community Education and Outreach: NAMI GC staff and speakers, including clinicians and subject matter experts, make informative presentations to professionals, the community, and the public on topics related to resources, diagnosis, treatment, recovery, and how to reduce the stigma surrounding mental health challenges. Information and Referral services: Individuals can call the NAMI GC helpline and email to support accessing community resources and navigating the mental health system. These programs offer valuable insights, resources, and perspectives to people living with a mental health diagnosis, their family members, and community members, helping them navigate the complexities of mental health with greater understanding and support. NAMI GC is working on building its reach to serve populations that have historically had poor mental health outcomes, including those in stigmatized racial groups, LGBTQ+ and communities of faith. Funding from Yardi goes a long way in helping NAMI GC meet the increasing demand for its programs and services. “NAMI Greater Cleveland’s Board of Directors, staff, and volunteers are grateful to Yardi’s employees...

Self Storage Update Dec18

Self Storage Update

The self storage industry is feeling the impact of the housing market slowdown on demand for storage units, states the latest Self Storage National Report from Yardi Matrix. The average annualized same-store asking rate per square foot for combined unit sizes and types averaged $16.57 nationally in November, a 4.2 percent drop on a year-over-year basis. Street rates also remained negative on an annual basis in November in nearly all top metros. Combined same-store rates for non-climate-controlled units decreased in all but one of the top markets tracked by Yardi Matrix on a year-over-year basis. Meanwhile, the asking rates for same-store climate-controlled units fell in all major metros. “Rising housing costs and incomes that have not kept pace has resulted in one of the most unaffordable housing markets in the past thirty years, stifling home sales. As a key storage demand driver, a slowdown in the housing market is dampening occupancy and weighing down street rates,” say Matrix analysts. At a national level, Yardi Matrix tracks a total of 5,028 self storage properties in various stages of development, including 883 under construction, 1,940 planned, 631 prospective, 1,489 abandoned and 85 deferred properties. Yardi Matrix also maintains operational profiles for 29,376 completed self storage facilities, bringing the total data set to 34,404. Gain more insight on the performance of the self storage sector. 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, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...

Rents Trend Down Dec15

Rents Trend Down

National multifamily asking rent decreased for the third consecutive month in November, according to the latest Yardi Matrix National Multifamily Report. The average U.S. asking rent fell $6 to $1,713 in November, with year-over-year growth at 0.4 percent, on par with September. Occupancy remained steady at 94.9 percent since August. Metros in the Northeast and Midwest remained in the lead for rent growth, while Sunbelt and West metros lagged. More so, seven of Yardi Matrix’s top 30 markets were down 3.0 percent or more year-over-year, with the most significant rent declines registered in Sunbelt metros where developers delivered new supply in volume.  “One could say the multifamily market is metaphorically hunkering down for the winter as property owners face the prospect of weak near-term rent growth due to inflation, the loosening job market and a surge in deliveries in some markets, while values and capital markets liquidity deteriorate as interest rates remain higher-for-longer,” states the report. Although rent growth was restrained in the middle of the last quarter of 2023, it posted a 23.5 percent increase since the start of the pandemic in March 2020. The current slowdown resulted from stock expansion in some areas and stretched affordability in other areas. Planned deliveries over the next two years will likely create some balance. Rents contracted across asset classes, steeper in the Lifestyle segment (down 0.4 percent) than in the Renter-by-Necessity segment (down 0.2 percent). Overall, monthly rent growth was negative in 25 of Yardi Matrix’s top 30 metros. Single-family rents fell $8 in November to $2,115, for a 0.7 percent year-over-year increase, down 30 basis points from October. Rent growth was solely sustained by the RBN segment, up 3.2 percent year-over-year, while Lifestyle rents declined 0.1 percent during the interval. Gain more insight in the...

AVLF Dec14

AVLF

Let’s head to Georgia and introduce the Atlanta Volunteer Lawyers Foundation (AVLF), founded in 1979 and created through joint efforts of the Atlanta Legal Aid Society, the Atlanta Bar Association, the Atlanta Council of Younger Lawyers and the Gate City Bar Association. AVLF’s mission is to create safe and stable homes for families and fighting for equal justice. “We believe no one standing up for their rights should have to do it alone. That’s why we stand with, for, and in support of low-income Atlantans as they demand safe and stable housing and break free from domestic violence,” says Libby Rother, development director of AVLF. AVLF is the largest pro bono legal services provider in Atlanta and Fulton County, Georgia and serves those of domestic abuse, children in high-conflict disputes, and residents in disputes with property owners. “At AVLF, ‘here’ means many things. It means beside them in court, at our downtown legal clinics nearly every Saturday of the year, in our two offices inside the Fulton County Courthouse, our communities’ schools, and our clients’ homes,” explains Rother. Together, this foundation is working for a fairer and more equitable Atlanta, one family at a time. In 2022, 4,340 clients were served, and more than $725,000 in emergency assistance was distributed. At the heart of AVLF is its community, which aligns with Yardi’s motto of “taking care of the community.” AVLF is constantly looking for innovative ways to deepen its reach in the community. In 2016, AVLF established school offices with a Community Advocate and Attorney who would meet with parents to discuss housing issues. Now, AVLF has an office location on the Westside of Atlanta—a community with high rates of evictions and domestic violence. After establishing this office location, AVLF launched a Mobile Advocacy...

Compare Your Communities

It’s crucial to keep the pulse on your competitors in the senior living space. You need to understand why one community may be attracting new prospects more successfully — or even enticing your current residents to make a switch. Unfortunately, assessing the competition is challenging when your data isn’t organized, easy to retrieve and error-free. That’s where our competitive analysis feature comes in. You simply input the data you’ve collected on your competitors — things like community amenities, care-level incentives and reputation — then RentCafe Senior CRM takes care of the rest. The dynamic solution presents competitor data in an attractive, easy-to-analyze format and thanks to seamless integration with Yardi Voyager Senior Housing, your own community’s data is populated automatically — making it easy to draw comparisons. Our new competitive analysis infographic shows more of how it works:    What is competitive analysis? As defined in Business News Daily, competitive analysis — also known as competitor analysis — is the evaluation of your organization’s products or services (and how well they’re performing) compared to other organizations in your market. How does it work? Our competitive analysis functionality helps you centralize competitor data, streamline reporting and compare communities quickly and efficiently. You enter competitor information directly into RentCafe Senior CRM then unlock organized, intuitively presented insights that live in one secure place. Why do you need it? With organized competitor details and data-driven insights at your fingertips, you’re equipped to make faster, informed decisions for your community’s benefit — decisions to help your community stand out from the crowd. In fact, according to LinkedIn research, data-driven companies outperform their competitors by up to 20%. Explore self-competitor functionality Curious to see how your own communities stack up against each other? RentCafe Senior CRM offers self-competitor functionality! With real-time data flowing in from Voyager Senior Housing, you can conveniently compare your communities with precision. No more pulling information from multiple sources — wasting time and risking errors. Learn more and see competitive analysis in action RentCafe Senior CRM is a mobile-friendly sales and marketing solution designed for senior living operators. Ready to learn more and see competitive analysis in action? Reach out for a personalized...

Food Bank of CENC Dec08

Food Bank of CENC

Today, we introduce the Food Bank of Central and Eastern North Carolina, founded in 1980 in Raleigh, NC, with offices in Wilmington, Greenville, New Bern, Durham and Southern Pines. It works daily to provide food to people in need while building solutions to end hunger in the community. The Food Bank collects donated, government-allocated purchased food, sorts it into family-sized portions and distributes it to a network of approximately 700 partner agencies such as soup kitchens, food pantries, shelters and meal programs for children and adults. All foods are healthy and nourish families, children, seniors, and individuals. Through partnerships, education and evidence-based programs, the Food Bank empowers communities to overcome hunger, creating an environment where all North Carolinians can thrive. “Our mission is to nourish people, build solutions to hunger, and empower communities to work with us to solve hunger,” said Andrea Maron, manager of the foundation partnerships for the Food Bank. The Food Bank’s core mission is to distribute nutritious and culturally meaningful food to underserved individuals. Intending to distribute and target children and seniors, the Food Bank serves over 100 million pounds of food—83 million meals, including 50 million pounds of fresh produce. Realizing that they cannot solve hunger without addressing its root causes, they will continue to expand the cause of hunger work, including investing in policy and advocacy work to strengthen policies that can end hunger. The Food Bank additionally wants to focus on culturally meaningful foods to provide more variety to extend to other communities.   Inflation is hitting the Food Bank and partner agencies hard. Food and freight costs strain the budgets. Funding from Yardi helps the Food Bank buy nourishing food and transport it to those who need it in central and eastern North Carolina. “We are...

Nobel-Level Science

Nobel Prizes, especially those awarded in the science categories, are often unfathomably exotic to the average consumer. But Nobel-level tech lies no farther away than the computer on your desk or the smartphone in your hands. As an MIT blog post noted in October, “Regardless of what display you’re using to read this, it is almost certainly powered by … technologies with roots in the Nobel Prize in Chemistry or Physics. (Even if you’re using a CRT display for whatever reason, the 1905 Nobel Prize in Physics was awarded for the invention of the cathode ray tube.)” The list of Nobel-winning tech that’s used in smartphones and other present-day devices dates at least to 1909, when Italian Guglielmo Marconi and German Karl Ferdinand Braun received the Physics prize for wireless telegraphy. The list of Physics and Chemistry winners since then encompasses the invention of integrated circuits, transistors, charged coupled device sensors in cameras and more. Blue light and lithium batteries In 2014, for example, three researchers from universities in Japan and the U.S. earned their Nobels for creating blue light-emitting diodes, or LEDs, which consist of electrons moving through several layers of semiconducting materials and directly converting electricity into light without the heat-waste of a traditional bulb. Building diodes that emit red and green light from their semiconductors had been achieved years earlier, but producing blue light, a necessary component of white light, was elusive. The three light colors combine to make the bright white produced by LED lightbulbs, which are more efficient and longer-lived than traditional bulbs with filaments. It’s also present in your smartphone’s flashlight and displays. “The first bright blue LED in the early 1990s marked one of … the most important breakthroughs in lighting technology,” says the MIT blog. The...

Biswakam Mishra Dec05

Biswakam Mishra

Yardi’s global offices make essential contributions to property management and investors worldwide. Meet Biswakam Mishra, a programming manager based in Dubai. Meet Biswakam Mishra Biswakam Mishra has been working at Yardi for 17 years. He worked in the Pune office for ten years, and for the last seven years, he’s been working in the Dubai office. Before starting his role with Yardi’s latest product, Voyager 8, Mishra was previously part of the technical service team for CSD and PSG. In addition to development tasks, Mishra assists the CSD and PSG teams in troubleshooting Elevate issues in the Middle East region. He also supports the CSD team in addressing performance or TA-related issues and organizing training programs for new hires. “I have a keen enthusiasm for learning and am always curious about my assigned tasks. I find great satisfaction in helping team members and fostering collaboration,” shared Mishra. After many years at Yardi, Mishra says Yardi has become like a family, “The culture is characterized by collaboration, innovation, friendliness, and fun, providing a healthy work-life balance.” Mishra advises new hires to bring fresh ideas, highlighting Yardi’s comprehensive training and easy onboarding processes, ensuring that team members feel comfortable and can contribute effectively. “Yardi’s strong motto sets a foundation for success, emphasizing employee well-being and teamwork,” said Mishra. Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. Taking Care of Our Community Mishra aligns with Yardi’s motto, inspiring him to join a nonprofit organization, Bandhu, in his native state in India. Bandhu works to support children in completing school education successfully. “We organize various activities for village kids, including outreach programs, career counseling, and yoga. I contribute to the group both technically and financially,” Mishra explained. Early Bird Gets the Worm Mishra...

Supporting Mental Health

When you offer employees continuous support, recognition and opportunities for growth, you’re creating a positive work environment. And when people are surrounded by positivity, it can massively impact their mental health for the better. So, how can you offer that support and recognition? We have a solution built for the task: Yardi Aspire, our user-friendly learning management solution. Regardless of which real estate market you serve — from multifamily to commercial to senior living — Aspire helps you deliver personalized training, connect teams and reward staff for their accomplishments. Best of all, it’s accessible from a single online platform, meaning your teams can reap the benefits anytime, from anywhere. Ready to see how it works? Meet Yardi Aspire Aspire is a comprehensive learning management solution that delivers interactive, experiential training (and much more) directly in the Yardi platform. Employees access a wide array of personalized courses, live events, company resources and reward programs, all in one intuitive place. Watch a webinar to learn more about Aspire. Support employees’ mental health using one solution Wondering exactly how Aspire helps you create a positive work environment — enhancing employees’ wellbeing as a result? With this dynamic solution, you offer your teams:  A sense of community, inclusion and belonging — Aspire enables classroom discussions, interactive group projects, live communication and instant messaging (thanks to a Microsoft Teams and Aspire chat integration). Tools for accomplishment, mastery and recognition — to help you validate and recognize staff for their achievements, Aspire includes a leaderboard, digital badges, points-based rewards, certificates of completion and customizable, level-up learning plans. Encouragement and constructive feedback — delivering personalized, thoughtful feedback is easy with Aspire’s video coaching option. Aspire’s mentorship program also helps employees receive one-on-one feedback and support. Ease and convenience — Aspire is a user-friendly, accessible platform with intuitive navigation, visibility controls and easy-to-use dashboards. With everything conveniently located on a single platform, employees can revisit and reabsorb content whenever they’d like. Flexibility — Aspire’s elective assignments and optional trainings give employees the flexibility, freedom and confidence to drive their own learning destiny. Continue learning about Aspire Have questions about Aspire’s unique features? Don’t hesitate to get in touch. In the meantime, don’t forget to register for an on-demand webinar.            If you’re searching for additional resources on mental health awareness and support, check out these digital sharables by the National Institute of Mental...