You may have seen our previous posts on the Best Senior Living list, an initiative by U.S. News & World Report that identifies nearly 1,300 communities for exceling in assisted living, independent living and/or memory care. We’ve had the pleasure of announcing several Yardi clients who made the list this year, but for today’s post, we’re spotlighting Clearwater Living — a dynamic organization with four individual communities recognized by U.S. News. From us here on the Yardi senior living team, congratulations to Clearwater! Clearwater communities make Best Senior Living list This year’s Best Senior Living list is the first of its kind. Crafted to help seniors and their families navigate the challenging process of choosing a place to live, the list recognized 1,247 different communities for their exceptional efforts in caring for residents. With each community selected, U.S. News offers comprehensive ratings and transparent data, including profiles with testimonials from current residents and family members. For Clearwater Senior Living, all four of their eligible senior living communities earned a well-deserved spot on the list. “Clearwater Living is humbled and honored to be recognized as a “best” in the independent living, memory and assisted care categories,” said Danielle Morgan, president and chief operating officer of Clearwater Living. “Our team’s sole focus is to provide the best care and lasting connections that foster pride and independence within our senior residents, and we are pleased that families now have a valuable resource to review as they navigate the important decision-making process of selecting senior living for themselves or a loved one.” The four Clearwater communities recognized include: Clearwater at Riverpark — deemed best in independent livingClearwater at Rancharrah — deemed best in both assisted living and memory careClearwater at South Bay — deemed best in memory careClearwater at Sonoma Hills— deemed best in assisted living About Clearwater Clearwater Living, a California-headquartered organization, is committed to providing the most superior service and care for seniors. From developing and operating communities throughout the western United States, Clearwater uniquely positions each location to provide residents with the best living experience. Read more about Clearwater Living. Read more We love the chance to spotlight our senior living clients, Clearwater Living included. Check out Clearwater’s blog post on making the Best Senior Living list. To learn how Yardi supports Clearwater with our integrated senior living software — from Yardi EHR to Senior IQ — explore our product...
Changemaker Series
Announces Danette Opaczewski
It’s time to showcase the final round of senior living Changemakers — four industry pioneers who have shaped the industry as we know it. And if you’re new to the series, Changemakers is an annual compilation of interviews that Yardi is proud to sponsor for the fourth consecutive year. Presented by Senior Housing News (SHN), the interviews hone in on leaders’ evolving strategies, experience with change and plans for the future. First up in the final group of four is Changemaker Danette Opaczewski, the EVP of resident experience and COO of Revel Communities. About Danette Opaczewski From spending her career in hospitality, Changemaker Danette Opaczewski knows how to think outside the box when it comes to resident care. Since joining Revel Communities in January 2020, she has brought innovative ideas to the table and lead Revel toward a brighter future. Through her Changemaker interview, Opaczewski talks about her drive to redefine the resident experience in senior living. She shares the importance of pricing transparency, the initiatives her team is taking to improve diversity and more. See below for a quick highlight. SHN: Do you see yourself as a Changemaker? And are you always excited to drive change, even when it sometimes involves risk? Opaczewski: We recently rolled out a program within our communities called Predictive Index, with the goal of analyzing our team members’ behavior to help them fit into their role and the industry in general. After participating in the program myself, I learned that I’m considered a venturer. A venturer is defined as somebody who is open to change and is motivated by the ability to make an impact on what’s in front of them. I didn’t come into senior housing planning to be a changemaker, I came in and said, “This...
House Rules
Managing Resource Shortages
“So many new developments are under construction, they are likely to compete with each other – and not just for residents. Developers are also competing to find construction workers to build their projects.” National Real Estate Investor reported that in March 2017. The housing industry finds itself in much the same straits today. Even though more homes are under construction than at any time in the past five decades, supply chain slowdowns and labor shortages have added 25% or more to the time required to build a new home before COVID-19, according to the National Assn. of Home Builders (NAHB). Pandemic-related supply chain problems and rising interest rates add tens of thousands of dollars to the cost of a typical house. Rising interest rates and inflation will also add to the affordability challenge. “We need to be building around 1.5 million to 2 million homes just to keep up with the demographic demand coming from the millennials,” says NAHB economist Danushka Nanayakkara-Skillington. Key factors keeping the number of homes in the U.S. at low levels include: Materials More than 90% of builders report shortages of key materials, the NAHB reported in June. Windows, doors, heating and air conditioning equipment, appliances, cabinets and even garage doors are in short supply, with overall costs rising 19% year over year as of June. Building material “price and availability, along with persistent supply chain bottlenecks, remains the most urgent challenge for builders as they seek to boost production to meet rising demand,” NAHB chief economist Robert Dietz said in February. Labor The current worker shortage that traces its roots to the housing bubble collapse in 2008, when many homebuilders went out of businesses and their workers left for other industries. The current influx of new workers barely covers...
Events This Fall
In Senior Living
Looking for a lineup of senior living events coming this fall? There’s an array of opportunities to choose from — but fear not. We have a list to share with you, which includes three industry events packed with networking opportunities. Yardi’s senior living team will be attending each event, so if you’re eager to learn more about our senior living management software, we’ll explain how to schedule time to connect with us. Read on to see what each event has to offer. CALA Fall Conference & Trade Show Meet top decision makers including CEOs, CFOs, COOs, executive directors, clinical staff, marketing professionals and more at the CALA Fall Conference & Trade Show in Palm Springs, California! You can find Yardi at booth 60. Schedule time to meet with us and learn about our single connected solution, an integrated system designed for the unique needs of senior living providers. Event details: Renaissance Palm Springs Hotel & Palm Springs Convention Center Palm Springs, California November 7-9, 2022 NIC Fall Conference Join Yardi at the 2022 NIC Fall Conference in Washington, D.C. This networking event presents an opportunity to meet and engage with operators, investors and care partners in senior living. Team Yardi will be available to show you around our senior living management software, demonstrating how it works to elevate your communities. Fill out this form to schedule time to meet us there. Event details: Marriott Marquis Washington, D.C. September 14-16, 2022 Oregon Healthcare Association Annual Convention Network with us at the Oregon Healthcare Association Annual Convention in Portland, Oregon. Here you’ll gain insight into the staffing crisis and other top challenges in senior living. You can find team Yardi at the conference, ready to show you how the Yardi Senior Living Suite helps you empower...
10 Years with Yardi
MBK Senior Living
From occupancy to staffing, various challenges circulate the senior living industry each year. Fortunately for providers facing these challenges, implementing technology solutions can ease the burden — and lead their communities toward a brighter future. Here at Yardi, we strive to help providers navigate obstacles with our senior living management software. This includes MBK Senior Living, who recently reached their 10-year anniversary as a Yardi client. From our team to MBK’s, it’s an honor to celebrate this special milestone! About MBK MBK Senior Living follows a people-first approach in senior living. Putting residents’ health and happiness first — emphasizing exceptional care, nutritious dining and the highest level of respect — is what makes their communities shine. Founded in 1990, MBK offers options in assisted living, independent living and memory care. And 30 years of service has led the organization to continuously evolve and innovate, ensuring residents receive the best possible care. Today, MBK owns and operates communities in California, Oregon, Washington, Utah, Colorado and Arizona. Navigating industry challenges Like other providers, MBK has worked to strategically navigate the staffing crisis. With help from Yardi software solutions and decades of experience steering their communities forward, they’ve found creative ways to attract and retain staff. Highlighted in a Senior Housing News article this year, MBK’s staffing approach includes an executive director training program, which has led to the promotion of several internal candidates across their communities. In turn, vital team members have stayed on board throughout the staffing crisis. In addition to promoting internal candidates, MBK has also recruited new, qualified staff by treating candidates the same way they approach prospective residents: with respect and kindness. As a result, the staffing crisis hasn’t impacted MBK’s inquiries, tours and move-ins. Instead, the Irvine, California-based organization continues to...
WeWork Workplace Launched
Built in partnership with Yardi
WeWork (NYSE: WE), a leading global flexible space provider, today announced the official debut of WeWork Workplace, a new space management solution built in partnership with Yardi, the leading provider of real estate software. WeWork Workplace provides companies with a universal platform that enables inventory management across office spaces, enhanced employee experiences and space optimization through insights and analytics. The proliferation of remote and hybrid work models – vastly accelerated as a result of the pandemic – has created new opportunities for both employers and employees to fundamentally rethink the office and how we engage with it. WeWork Workplace marries space, asset and people management capabilities, removing guesswork from designing a strategic work model by providing actionable data to inform decision making in real time. As a result, the software aims to help employers reduce real estate costs, while empowering employees to more purposefully engage with the spaces they choose and create more meaningful physical connections. WeWork Workplace is the only product in the market that can combine all space types (privately leased/owned, WeWork and WeWork shared/affiliate) within a single experience. Additionally, companies that may need overflow space will have the option to enable access to WeWork and WeWork affiliated locations for their employees globally. “Businesses today must solve for bringing flexible work models to life – optimizing their spaces without sacrificing the culture, collaboration and productivity that happens in-person. This is what we aim to deliver with WeWork Workplace,” said Scott Morey, WeWork’s President of Technology & Innovation. “Combining our advantages in scale, speed and access to flexible spaces, with Yardi’s industry-leading software and tech capabilities, WeWork Workplace doesn’t stop at desk booking or at backend insights – it aims to solve for a dynamic, constantly evolving future of work.” A One-Stop-Shop Solution WeWork Workplace combines the capabilities needed, in one place, to help build, manage and evolve any office space strategy. The software aims to help businesses: Enhance employee experience across an entire portfolio. Dynamic, collaboration focused features built in – interactive floor maps, team booking capabilities, overflow booking automation, visitor management, company announcements and calendar integration, make engagement with the office more intentional and impactful.Manage and optimize all spaces regardless of asset type or geographic location. Universal portfolio management – across all asset types – enables office space strategies centered on utilization. Create user groups, spatial zones and navigate capacity and overflow management. Future proof real estate strategies through actionable insights. Make decisions with confidence through access to stronger, more accurate data. Instantly look into daily and building level data, or view trends over time, such as booking to occupancy ratio, including the ability to sort by property type. Designed to offer a frictionless office experience for companies of all sizes, helping to maximize their spaces for collaboration and innovation, WeWork Workplace is uniquely positioned to enable companies and their people to continuously adapt to a flexible world of work. To learn more about WeWork Workplace, and to sign up for a live demo, visit:...
Overcoming Isolation
Preschoolers Visit Seniors
If you’re looking for a story to brighten your day, look no further. We have a heartwarming post in store featuring preschoolers, seniors and some pretty special friendships. The story comes from this summer feature of Chatham Magazine, a lifestyle publication that’s only released five times per year. Each feature discusses all-things food, arts and the community. And for the story we’re sharing today, you’ll see how local preschoolers paid a sweet visit to senior living residents in their area. We hope the highlight below brings a smile to your face. Feel free to flip to page 96 of the magazine to read the full story. Local preschoolers help senior living residents overcome isolation The past few years have been challenging for seniors and their families. From strict lockdowns to other regulations preventing in-person visits, seniors residing in communities have faced feelings of loneliness and isolation. But there’s always light at the end of the tunnel. And for residents at Galloway Ridge at Featherington, part of that light was a visit from the Primrose School of Chapel Hill preschoolers. The visit was brought to be as part of the school’s “Adopt-a-grandparent” program, which creates opportunities for young children and seniors to develop respectful, positive relationships. “The program provides children the chance to be of service, feel needed, develop sensitivity and respect the needs of others,” shares the co-owner of Primrose School of Chapel Hill, Melissa Mart. “For the [adopted] grandparent, the program offers an opportunity to share talents, knowledge and friendship with the children.” The program brings children into community rooms to play games, make crafts and enjoy story time with senior living residents. The kids also craft greetings, posters and drawings for their “adopted” grandparents. “Adopt-a-grandparent” was in full swing before the...
Meet CoworkingCafe.com
End-to-end coworking solution
The Yardi suite of coworking and flex space tools expands today with the launch of CoworkingCafe.com and the acquisition of CoworkingMag.com. Operators of coworking and flex space can take advantage of Yardi’s market leading lead generation, as well as a new feature to allow real-time bookings for conference rooms and private offices. When combined with Yardi Kube for coworking operations and accounting, Yardi has the very first end-to-end coworking solution for flex operators and owners. CoworkingCafe: For Operators & Occupiers CoworkingCafe.com publishes coworking and flex locations across the country, including real-time availability, amenities and packages, photographs, floor plans and even 360-degree videos. The sleek design offers a seamless experience for researching and booking workspaces, all in one app. From an extensive selection of top coworking brands, users can book and pay for a desk, office, meeting room or a complete office package in just a few clicks. CoworkingCafe.com joins the five existing Yardi commercial listing platforms, CommercialCafe, CommercialSearch, PropertyShark, 42Floors, and Point2, all of which now show coworking availability alongside traditional commercial listings. Together, these sites attract 2 million monthly visits and generate 300,000 high quality leads per year. Coworking operators can now manage inventory, marketing collateral, availability and pricing from a centralized dashboard, while workspaces are marketed across the entire listings network. Yardi Kube clients have the added advantage of managing marketing collateral and availability natively, along with operations, accounting, customer contracts, communications, data and Wi-Fi – a single, connected, end-to-end solution. “With the launch of CoworkingCafe, we are excited to help consumers find and book office space, while helping operators increase revenue,” said Rob Teel, senior vice president at Yardi. CoworkingMag Joins the Team Yardi also announces its recent acquisition of CoworkingMag.com, the go-to source for coworking news and trends. CoworkingMag consistently ranks among the top results for coworking-related searches for locations in the U.S. This addition enhances the power of the Yardi listings network and boosts both visibility and leads for all coworking clients. “The acquisition of CoworkingMag accelerates our efforts with its strong online presence and our Kube clients benefit from an expanded audience for their availabilities,” Teel added. “Together, these products provide unmatched value both to consumers and operators.” The Complete Coworking Platform: Yardi Kube Yardi Kube is the most powerful coworking management software on the market, bringing automation, flexibility, and ease to workspace management. The all-in-one platform handles everything from listing and booking coworking spaces — complete with mobile app — to day-to-day operations management and even automates the sales process from lead generation to proposal and execution. For more information about how CoworkingCafe and Yardi Kube streamline operations and increase revenue, contact us/book a demo...
Technology Is Community
Senior Living White Paper
Senior living operators build community, and community is increasingly defined by its technology — the tech used by residents, staff and family. These integrated systems are a community’s lifeblood, enhancing key aspects of the day-to-day experience for both residents and staff. They help staff communicate, empower residents and ease concerns for family members. Ultimately, these systems keep senior living communities in sync. That’s the focus of a brand new Yardi-sponsored white paper, Technology is community: How to bring residents, family and staff together. Published by Senior Housing News (SHN), the resource offers an inside look at how providers are using tech to connect their communities in creative ways. See below for a snapshot of what the white paper entails. Using tech to connect residents, families and staff While the COVID-19 pandemic and subsequent restrictions changed communication in every industry, the pandemic’s risks to seniors made communication in senior living even more important, and more challenging. Today, operators need ways to connect families with their loved ones in communities, and ways to help staff deliver quality care no matter the circumstance. That’s why it is crucial for operators to implement technology tools that streamline communication. Drawing insight from operators Validus Senior Living and Maplewood Senior Living, the white paper shares how solutions like RentCafe Senior Living — a secure online portal — help staff members communicate with each other, with residents and with resident family members. Additionally, how this integrated solution helps users make online payments, review health and wellness information, sign forms electronically and submit maintenance requests. From Validus, you’ll learn how RentCafe Senior Living works to improve communication, streamline billing and even enhance medical care. Through the Maplewood spotlight, you’ll see exactly how this Connecticut-based company is using RentCafe Senior Living to enrich residents’ quality of life in four key areas. That includes socialization, entertainment, safety, exercise and health tracking. Top benefits of improved communication systems New technologies have improved senior living for residents, giving them enhanced experiences in their finances, health, socialization and more. Leading communication tools have also improved the experiences of staff and family. With RentCafe Senior Living, three of the industry’s major stakeholders — residents, staff, families — share a communication tool that is easy-to-use and wide-ranging in impact. Areas of impact include: Resident surveysEasy community communicationPaperless paymentsActivities and wellness calendarsHealth updates for familiesElectronic signatures and document management Explore the white paper for a detailed look at each of these areas. Read more As the pandemic has largely affected senior living communities, it’s imperative for operators to implement technology that enables communication anytime, from anywhere. Read the white paper in full to learn how tech solutions like RentCafe Senior Living make the...
EIA Updates
Offer Long-Term Focus
Here’s the latest of our periodic updates of news and trends reported by the Energy Information Administration, a statistical and analytical agency of the U.S. Department of Energy. Conflict spurs fuel price uncertainty Fuel price projections are uncertain, due in part to the Russia-Ukraine war’s potential impact on nations, energy producers and markets. With global inventories of crude oil, natural gas, and coal below average before the war, U.S. gasoline and diesel prices hit multiyear highs in March. EIA forecasts that the average inflation-adjusted prices of gasoline and diesel this summer will be the highest since summer 2014. Production could temper prices in ‘23 EIA projects that U.S. oil production will average 12.4 million barrels per day in 2023, surpassing the record high for domestic crude oil production set in 2019, with domestic crude oil production increasing steadily between 2021 and 2023. Crude oil inventories will reach 465 million barrels at the end of 2023, which is about 11% more than inventories at the end of 2021. “We expect global demand for petroleum products to return to and surpass pre-pandemic levels this year, but crude oil production grows at a faster rate in our forecasts,” said EIA Acting Administrator Steve Nalley. “We expect that as crude oil production increases, inventories will begin to replenish and help push prices lower for gasoline, jet fuel, and other products in the short term.” By September 2023, U.S. natural gas production will hit an all-time high daily average. Coal consumption, meanwhile, will fall by 2% in 2022 and remain relatively unchanged in 2023. Home appliances getting smarter EIA’s recently released 2020 Residential Energy Consumption Survey offers a look at electricity-consuming devices used in American homes. The survey reveals that nearly half of U.S. households used LED lighting in...
Changemaker Series
Announces Bryan McCaleb
If you’ve visited The Balance Sheet recently, you’ve likely seen our posts about Changemakers, an interview series that spotlights innovative leadership in senior living. As a sponsor for the fourth consecutive year, we’re honored to shine a light on each leader’s story. The in-depth interviews are released in batches by Senior Housing News (SHN). And the latest group of honorees includes Changemaker Bryan McCaleb, president of Sagora Senior Living and someone who embodies what it means to put residents first. About Bryan McCaleb As president of Sagora, a Yardi senior living client and resident-focused organization, Bryan McCaleb knows how to push boundaries and build success. Most importantly, he stands behind Sagora’s mission to help seniors enjoy retirement with style and dignity. Since joining the Sagora team in 2006, McCaleb has helped the organization serve seniors — exceeding their wants and needs — through exceptional residential alternatives. In his detailed interview with SHN, McCaleb shares how Sagora has grown in such a competitive landscape, sharing how promoting internal team members has made the difference. Read a portion of Bryan McCaleb’s interview below: SHN: As you think back on your career in senior living, what changes have you driven that you’re especially proud of? McCaleb: Our company has always made a difference through creating. The term “Resident first” may be a cliché in our industry, but it is not a cliché at Sagora, where we have a motto “Resident First, Team focused and Quality centered.” We’ve worked hard over the last six years to create a team member-first environment. If the team member is our focus, they can take the care focus from us. From my seat, it really makes a difference. When they’re happy to be there and they feel appreciated, every aspect of...
ESG Ready
OSCRE Innovation Forum
According to Naseem Wenzel, Executive Director and Head of Real Estate Assets at Lionpoint Group, “ESG is coming fast and furious, which leaves investment managers, real estate owners and operators and service providers in a position of either being reactive or proactive.” What position is your company in? In OSCRE’s May 25 Innovation Forum, ESG: Insights to Assess Your Readiness, the panel, moderated by Wenzel, discussed what’s needed to move the industry forward. The speakers represented “a mix of perspectives from change leaders in the industry” including Chris Devine, head of client analytics, Cushman & Wakefield, Rick Ferrino, senior VP technology, Blackstone and Soheil Pourhashemi, senior VP business technology, Brookfield Properties. When asked individually about their company’s approach to ESG, the panelists touched on creating long term strategies, dealing with resource issues including staffing and training to focus on ESG and the overall need to automate data collection, analytics and reporting. The speakers agreed that evolving practices and focusing on how data flows — including real-time reporting from assets, are important initiatives. With regard to governance, the panel discussed measuring and normalizing data, creating data standards and developing organizational maturity. One speaker commented that ESG practices are integral to building a resilient business and creating value for investors. ESG is also a critical aspect of capital fundraising. For service providers, the focus is on the occupier side and how to get data standards in place, with information flowing from investors to occupiers. All the panelists agreed that automating data collection and reporting is key. Survey responses on ESG readiness In OSCRE’s recap of the session, the audience’s answers to the polling questions included these key takeaways: 53% of respondents described their organization’s level of preparedness as just getting started and 0% reported that...
National Stars
In Energy Leadership
Yardi recently earned the 2022 ENERGY STAR® Partner of the Year Sustained Excellence Award, the highest honor bestowed by the ENERGY STAR program, in recognition of its longstanding commitment to protecting the environment through superior energy efficiency achievements. The company’s accomplishments over the past year include helping more than 200 clients benchmark energy in 5,000+ buildings, sharing ENERGY STAR data to help clients access green financing for buildings, earning ENERGY STAR certification for two corporate headquarters buildings in Santa Barbara, Calif., and providing energy classes for more than 6,000 client representatives during its virtual Yardi Advanced Solutions Conference. Yardi shared the ENERGY STAR Partner of the Year spotlight with organizations that also distinguished themselves in energy stewardship in 2021. They include: Industry associations including BOMA International, a trade association for commercial real estate professionals. BOMA International promoted ENERGY STAR resources to help its members meet sustainability objectives. BOMA’s Georgia chapter also received an award for promoting ENERGY STAR values in articles, videos and website content. IREM, an international commercial real estate organization, earned recognition for launching certified sustainable property programs and courses. Yardi has presented its smart energy solutions at BOMA and IREM conferences and provided a grant for BOMA’s Water and Waste Challenge program.Commercial building interests such as global real estate services and investment firm CBRE, which achieved ENERGY STAR certification for 174 properties and benchmarked 5,941 buildings in ENERGY STAR Portfolio Manager®; real estate investment manager Nuveen Real Estate, which delivered sustainability and ENERGY STAR Portfolio Manager training to 100% of its internal staff; professional services provider and investment manager JLL, which delivered ENERGY STAR messages to 1.3 million people through its social media channels; and Vornado Realty Trust, a fully integrated REIT that benchmarked 100% of its assets for energy, 99%...
Changemakers Series
Jane Arthur Roslovic
This year’s Changemakers series has spotlighted some fantastic senior living leaders so far. That includes the latest batch of honorees, whose interviews are officially live. The annual series, a collaboration between Yardi and Senior Housing News (SHN), features interviews with pioneers across the industry. And to be deemed a Changemaker, you need a strong appetite for risk and of course, change. That describes Jane Arthur Roslovic, CEO of Treplus Communities and a newly-announced Changemaker. Meet Jane Arthur Roslovic Jane Arthur Roslovic has been in the real estate development business since the 1980s, and she’s held a managing member position at Treplus Communities since 2012. From decades of experience, she’s well versed in driving unique, strategic initiatives in senior living. In her SHN interview, Roslovic speaks to her team’s brand strategy when it comes to targeting active adults and their children. She also shares how the real estate landscape is evolving, and her experience with driving change throughout her career. Here’s a snapshot: SHN: As you think back on your career, what changes have you driven at Treplus or in the industry that you’re especially proud to share? Roslovic:I am proud of the brand we created, which was ultimately our intent at the beginning. We wanted to build something that the 55-plus active adult really identified with, and we’ve accomplished that goal. It’s meeting a need for the baby boomer, but what’s even cooler is that Gen Z or Gen X is right behind them seeking lifestyle choices. The children of active adults support this lifestyle choice and the fact that we’ve created a brand they already identify with is exciting — not just for Treplus, but the whole active adult asset class. SHN: What are some ways in which you think the senior living industry needs to change in the next five years? Roslovic:Active adult living is our specialization. Awareness is key in the active adult industry, and we have to promote it every day. It is clear amongst my peers, who are out developing active adult, that it is taking all of our efforts to make active adult living a strong, viable option for the younger side of middle age. We are offering an active lifestyle solution that offers greater financial flexibility and the ability to be a part of community of people who are in the same place in life. In the next 5 years active adult housing will be a solid choice for those who are looking to downsize and live maintenance free. With respect to senior living, I believe labor is the biggest challenge and needs the greatest change. The labor force has been hit so hard, and it is critical that we get workers re-engaged with delivery of service while making them proud of their profession. The pandemic was a setback and now we have to play catch up. In senior living, there is still opportunity for delivery of a better resident experience. I’m not sure how quickly that’s going to happen, but I think active adult is keeping a good pace as the industry evolves. Read on From us here at Yardi, thanks for reading! We’re honored to sponsor the Changemakers series for the fourth consecutive year. To learn more about our solutions in senior living, visit our product suite. Head here to read the rest of Jane Arthur Roslovic’s SHN...
5 Questions
For Better Marketing Returns
Are you ready to drive results that matter? Property marketing spend can significantly impact NOI — in a positive way — but only if you know what questions to ask your marketing team. It used to be hard to see and understand property marketing results. Marketers had a hard enough time tracking which leads came from where, let alone which sources brought in leases. ILS and lead journey data was incomplete, and it could be hard to tell which budget items resulted in returns. If you were outside of marketing, perhaps working in operations or another adjacent department, understanding marketing spend could be even trickier. Fortunately, with better technology comes better data. Today, it’s easy to see exactly where a lead first became aware of your brand and at what point they converted. It’s also easy to see how much you’re spending per lead and lease. In fact, you can calculate how much you’re getting back for every $1 of advertising budget spent (keep reading to find out how). When you’re looking to guide your marketing team and help drive results that matter, here are five questions you should ask. 1. What is our current marketing mix, and is there data to support it? Marketers should know how the marketing budget is organized and why. Your corporate and regional marketing strategy should be based on historical conversion data and — if including a new technique or source — industry research and case study data. Marketing sources should include a balance of traditional ILS advertising and director-to-renter marketing. ILS marketing is critical for the awareness phase of the renter journey, but it doesn’t also get you the most qualified leads. Director-to-renter marketing, such as SEO and PPC advertising, sends renters directly to your websites where...
Apartmentalize 2022
NEW TECH + EVENT DETAILS
Apartmentalize, powered by NAA, is back! Starting June 22, multifamily leaders from around the nation will gather at the San Diego Convention Center. See the latest innovations and take part in conversations that will shape the future of multifamily. Find out where success happens at booth 815. We’re excited to share how our solutions are solving for industry trends at every stage of the resident lifecycle. Trusted solutions that fit your workflow We’re here to help you attract quality prospects, convert leads into leases, manage the resident experience and optimize your business. Here’s a preview of just some of what we can help you with: Attract quality prospects with expert help Ready to attract more prospects that convert? Learn how to grow awareness, traffic and marketing ROI with help from REACH by RentCafe, a dedicated digital marketing agency for multifamily.Schedule a free consultation with our REACH by RentCafe experts during the show. In just 15 minutes, you’ll learn how to create a winning web presence, stand out in search and lower your cost per lease. Convert prospects with automated communication, nurturing & fraud prevention Your customer is more than just a renter. Create a seamless prospect-to-resident experience and assist your staff with these customer-centric solutions: Chat IQ is an automated attendant that responds to chat, text, email and voice. This solution saves our clients time and money, all while delivering superior customer experience 24/7. Yardi’s CRM is your site staff’s ultimate partner. It has online and in-person functionalities that engage with your prospects and residents, supporting your staff through the entire leasing lifecycle. ID Verifyand Income Verificationare mobile-friendly solutions that use AI and automation to quickly authenticate applicant identities and income. No more back-and-forth emails to manually verify applicants – just fast, simple, online leasing. Book a meeting at booth 815 to see these solutions in action! Manage residents with an industry-leading system In multifamily real estate, delivering the right customer experience means retaining residents and keeping them in the family. Make it easier for residents to stay by enabling them to pay rent online, renew their lease, submit a work order and more from a branded resident mobile app. Then, level up with Maintenance IQ, which reduces days from your unit-turn process – making every property hum with efficiency. Stop by booth 815 to see how Yardi software continues to put your customers first. Optimize asset performance with an elevated solution One of the smartest systems in the industry just got smarter. Yardi’s Elevate Suite, including Asset IQ, Revenue IQ and Forecast IQ, helps you optimize NOI and asset value with predictive analytics backed by data and benchmarking. Make more informed decisions with a 360-degree view into your business. Expense and revenue benchmarking allow you to understand the full performance picture, placing you at an advantage to optimize occupancy and increase asset value. That’s just the start. Reserve a private demo at booth 815 to see our solutions work. See more, do more, learn more Make the most of your time at Apartmentalize with sessions that will inspire you to take action. Yardi leaders will be there to share industry insights and more. Here’s a peek: Youth & Wisdom: Pairing Experienced Marketers with Fresh Perspectives – June 22, 12:30-1:30 p.m. What can seasoned marketers learn from new employees? A lot! Hear from KETTLER and The Management Group, two industry-leading brands that create marketing magic by combining proven strategy with innovative insights. Learn how to encourage mentorship and collaboration to drive measurable results. Hosted by Esther Bonardi, vice president of marketing at Yardi and REACH by RentCafe. Imploding Myths on Technology Advancement with Affordable Housing – June 23, 3-3:45 p.m. Explore potential affordable housing solutions and learn about the latest tech to advance your industry knowledge. Join Chris Voss, vice president at Yardi, in a conversation designed to address misunderstandings about barriers unique to affordable housing, including the recertification...
Changemakers Series
Names Amy Schectman
It’s time to introduce the next round of 2022 Changemakers — senior living leaders who are spearheading innovation across the industry. This Yardi-sponsored series, in collaboration with Senior Housing News (SHN), features in-depth interviews with leaders to capture their stories, strategies and advice. If you’re interested to read about the Changemakers series in its entirety, visit the SHN website. There you’ll gain access to individual interviews, including that of the Changemaker we’re highlighting today: Amy Schectman, president and CEO of 2Life Communities. About Amy Schectman In leading 2Life Communities for over a decade, Amy Schectman has developed a knack for strategy development. From creating a quasi-endowment to support agency innovation to launching an expansion campaign to fill the gaps in senior housing, Schectman has driven positive change throughout her journey as 2Life Communities president and CEO. In her SHN interview, Schectman covers her focus on powerful diversity, equity and inclusion at 2Life — and that’s only the tip of the iceberg. Read the snapshot below then explore Schectman’s full interview for more. SHN: Thinking back on your career in senior living, what are some of the changes you’re especially proud of leading? Schectman: I am very proud of elevating the profile of affordable, subsidized senior housing to make it more than just a place people have to live. I think we’ve created some incredibly dynamic and supportive environments shaped by what we call “resident-centric property management.” We articulated that, made it our benchmark and figured out how to turn it into a sustainable model. It’s about cherishing and nurturing our folks in the long run. We work hard to prevent unnecessary ER visits and nursing home placements, and we’ve pushed the envelope of integrating housing and health care to maximize the chances of living a great life with us. The whole articulation of aging in community as a model and mapping out the eligibility for affordable housing put us on a path to fill the market gaps that other communities can’t meet. One of those market gaps is the middle market, and the other is people in tax credit housing who don’t have vouchers. Many older adults who earn between 40% and 60% of Area Median Income qualify for affordable housing but not affordable services. We’re working with our case management program to figure out how to serve that group as well. SHN: Do you see yourself as a Changemaker? And are you always excited to drive change, even with the risk involved? Schectman: Yes, I do. I’ve been at 2Life for eleven and a half years. During that time, I absolutely focused on driving change. Before that, I ran public housing and rental assistance for the state [of Massachusetts]. Public housing is two-thirds older adults, but it’s not quite the senior living industry. As I look at my career, the one pattern I can point to is making change and moving agendas along. Today, we’re making changes to expand our reach. We’ve built a stable organization that we’re trying to take to the next level. Understanding change and opportunities, then executing a strategy to realize them has been a consistent part of what I do. SHN: What changes do you believe need to be made in senior living in the next 3-5 years? Schectman: As the baby boomers continue to account for more of the aging population, they bring their value set with them. They don’t want a cruise or a hotel experience, but to continue the pursuit of social justice, positive change and community. I think we’re a different generation. What appeals to my parents’ generation does not necessarily appeal to my generation. We used to hear, “I don’t want to cook. I don’t want to clean. I don’t want to do those things. I want to relax and play cards.” I don’t think our generation wants to be catered to in that way. Our...
Studying Seniors
Defying Stereotypes on TikTok
We’re seeing more tech-savvy seniors today than ever before. From using technology to pay bills to connecting with others on social media, seniors are becoming increasingly invested in the digital world. That’s verified by a recent study exploring seniors’ use of TikTok, the well-known social media platform often associated with younger users. But this study didn’t simply look at how much seniors use TikTok. Researchers sought to analyze how seniors are using social media — TikTok in particular — to engage in discourses on aging. In other words, how seniors are using the platform to defy ageist stereotypes. Covered by McKnight’s Senior Living, the study is packed with interesting findings. If you’re as curious as we were about the tech-focused path seniors are paving, read on. New study: Seniors reframe stereotypes via TikTok In researching seniors behavior on TikTok, several most-viewed videos from users aged 60 or older — and who have at least 100,000 followers — were compiled. The study in reference, “Not Too Old for TikTok: How Older Adults are Reframing Aging” was published by researchers from Yale University and the National University of Singapore. From the videos analyzed, which totaled at 1,382, a few prominent themes emerged. Here’s a snapshot of what researchers found: 71% of the videos featured older adults defying age-related stereotypes18% featured older adults making light of age-related vulnerabilities11% involved older adults calling out ageism Building off the tech-savvy seniors theme, the study references a Pew Research Center analysis that highlights just how digitally focused older adults have become. The analysis shows: 73% of adults aged 65 or more years used the internet in 2019Smartphone adoption today is 81% among adults aged 60 to 69 and 62% among those aged 70 or more yearsSmartphone ownership went from...
Electronic Leasing Tools
In Senior Living
How can Yardi’s single connected solution simplify your move-in workflow? We have the answers, which we’ve compiled in our newest infographic covering all-things electronic leasing. In essence, electronic leasing tools in the Yardi Senior Living Suite make the move-in process seamless. With interconnected tools enabling customized online leases, electronic signatures and accessible digital documents, Yardi ensures you never miss a beat in turning prospects to residents. So if your communities aren’t utilizing electronic leasing tools yet, keep reading to see how making the switch can benefit you, your staff, residents and their families. Learn about electronic leasing functionality What is electronic leasing? In short, electronic leases — or eleases — are a digital version of the rental contract you already know. But with Yardi, electronic leasing is much more than a digital document. Our full-service, integrated electronic leasing management tools helps senior living providers streamline every step of the move-in process. Still curious how the process works, and which Yardi tools are key players? With our interconnected tools, you say goodbye to disparate systems and misplaced documents. Once your sales counselors generate a lease in RentCafe Senior CRM, it’s uploaded to RentCafe Senior Living online portal in real time. From there, prospective residents and family members get notified to complete their electronic signatures. They can log directly into the portal, or sign while in the community using a secure PIN, allowing for convenient access anytime, anywhere. All documents — including signed leases — are automatically tied to the resident record in Voyager Senior Housing. Deposits, recurring charges, one-time charges, lease terms, move-in incentives, care level, concessions, concession approvals and quote sheets systematically flow into the digital lease, eliminating the risk for errors and lost details. The challenge There’s a lot to unpack when it comes to electronic leasing functionality, and the challenges that arise when providers rely on paper-based process or siloed systems. Simply put, without an online leasing workflow, providers face: Hours spent generating leases and ancillary documentsLost prospects who wish to sign forms remotelyDisplaced documents scattered across siloed systemsA halted sales cycle and decreased move-ins Thankfully, full-service solutions like the Yardi Senior Living Suite eliminate these challenges by integrating and digitizing everything you need. The solution If you’re a visual learner, be sure to read the infographic to see how Yardi’s electronic leasing workflow operates from start to finish. This single connected solution allows providers to: Generate custom leases in RentCafe Senior CRM, our mobile-friendly sales and marketing toolEnable residents and families to sign forms in RentCafe Senior Living, our secure online portalSearch, find and update signed documents in Voyager Senior Housing, our community management powerhouse The benefits Going digital for your leasing needs has countless benefits. And with a system like the Yardi Senior Living Suite, housing everything on a single platform, those benefits include: Saving time — eliminate time spent sorting through paper documentsOffering convenience — give staff and prospects intuitive online platformsEnhancing resident satisfaction — help residents and families complete tasks with easeMaximizing occupancy — accelerate the leasing process at every level See firsthand success from Yardi clients Wondering how providers are benefiting from Yardi’s electronic leasing functionality? Read the infographic to see what our clients are saying. If you’re ready to chat with our team about electronic leasing tools in the Yardi Senior Living Suite, we encourage you to get in touch. We can’t wait to show you...
Joel Nelson Named
Argentum Board Chairman
Argentum is a leading association in senior living. From advocating for seniors and their families to driving policy initiatives, this national association works to better the senior living industry at every level. That can’t be done without a team of industry experts and passionate leaders. This includes LCS President and CEO Joel Nelson, who was recently elected to serve as chairman of the Argentum Board of Directors. With LCS being a dedicated Yardi senior living client, we are thrilled to share Nelson’s new position and extend our congratulations! Joel Nelson named Board Chairman at Argentum As the newly-appointed board chairman, Nelson brings years of industry experience to Argentum. And prior to taking this role, Nelson served as the Argentum Public Policy Committee Co-Chair — making him well versed in the association’s mission and programs. “I am extremely proud of the work we have achieved at LCS and feel the experiences of the last decades in serving our residents and staff will serve the general membership of Argentum as we as a profession move forward to meet the challenges ahead,” said Nelson. Read more about Nelson’s appointment as board chairman at Argentum. About Joel Nelson As the LCS President and CEO, Nelson executes strategy across all business lines in the LCS Family of Companies. That’s no surprise based on his years of service and growth as a senior living leader, all at LCS. Nelson joined the company in 1986 and since then, he’s held various executive roles on his path to President and CEO. Given his industry knowledge — and the fact that he currently serves 40,000+ seniors in 140 communities at LCS — Nelson is well equipped to serve a distinguished association like Argentum. And joining the Argentum Board of Directors isn’t his...
