Take It from the Top Aug25

Take It from the Top

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

Changemakers Series

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

Shopping Malls Adapt Aug22

Shopping Malls Adapt

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

Inventive Incentives Aug18

Inventive Incentives

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

How To Streamline Procurement

Procurement is an essential part of running a successful senior living community. Yet, many providers still use paper systems to procure supplies leading to inefficiencies, oversights and costly mistakes. Fortunately, tech solutions like the Yardi Procure to Pay Suite dramatically reduce friction across all elements of the accounts payable lifecycle: vendor management, procurement, invoice processing and payments. In our new ebook, published by McKnight’s Senior Living, you’ll see exactly how. Keep reading for a sneak peek of what the ebook has in store. New ebook: Save Time and Money in Your Procurement Process When it comes to procurement, technology lends a helping hand by automating processes from start to finish. This leads to enhanced accuracy, time savings and improved staff workflows, which ultimately allows communities to focus on their number one priority: resident care. That’s the focus of our new ebook — Save Time and Money in Your Procurement Process. Courtesy of McKnight’s, we cover the ins and outs of using tech to transform your procurement process. You can expect to discover:   Issues with manual processesBenefits of automated procurement toolsHow leading solutions make the differenceOne provider’s success with Yardi More on the Yardi Procure to Pay Suite For our senior living clients, we offer five products designed to support every step of the procure to pay workflow. Connected on a single platform, this includes: Yardi PayScanYardi MarketplaceYardi VendorCafeYardi Bill PayYardi VendorShield Each tool offers specific benefits for senior living providers, such as more time for resident services and care. The ebook shares more — offering a detailed look at how each product works in harmony to make procurement a seamless process. Keep reading Ready to learn more about automating your procurement process? Explore the ebook in its entirety. For more details on the Yardi Procure to Pay Suite, visit our product...

Chips Are Down Aug16

Chips Are Down

Some materials, like air and water, are easily seen and felt and keenly noticed in their absence. Other substances are just as ubiquitous but more hidden and easily taken for granted – until they’re scarce. Take computer chips, for example, the processing and memory units that are the engines for everything from personal computers, smartphones and washing machines to electric toothbrushes, refrigerators and cars. “I imagine there are more than 100 billion chips in daily use around the world,” notes Matteo Rinaldi, a professor of electrical and computer engineering at Northeastern University. One trillion chips were fabricated globally in 2020 alone, according to the European Union.  But lately the process of producing more chips to meet ever-growing demand and new technologies has hit multiple snags. Demand for chips exceeded supply even before the pandemic, and when much of the world economy shut down during the pandemic, so did factories, holding up delivery of the supplies needed for chip manufacturing. With the pandemic came an explosive surge in demand for devices and their components, with home-bound people using more tablets, phones and other electronics than ever before, far exceeding what manufacturers could provide. Port closures and labor shortages produced shipping bottlenecks. Companies like Nissan, General Motors and Apple subsequently noted the negative impact of chip shortages on their manufacturing and sales performance, while Ford Motor Company reported a loss of $3.1 billion over the three months preceding April 2022. Car maker Audi and its parent company Volkswagen stripped Invidia tire pressure display, wireless charging pads and other chip-reliant features from certain models. Hoarding amplified the disruption. Similar to nervous grocery store shoppers, manufacturers stockpiled computer chips during the pandemic, preempting the “just in time” manufacturing model favored by companies that order parts as close to...

Changemakers Series

We’re nearly at the end of the 2022 Changemakers series, an annual tradition presented by Senior Housing News (SHN). Although each year brings a wave of unique leaders, the 2022 series in particular has recognized a great range of individuals across the industry. As we approach the conclusion, it’s time to showcase the interview from our second-to-last honoree! Keep reading to meet Jesse Marinko, president and CEO of Phoenix Senior Living and a Yardi senior living client. All about Jesse Marinko With 20 years of experience in senior living, Changemaker Jesse Marinko has taken strategic risks throughout his career. That includes founding Phoenix Senior Living back in 2014, an organization offering innovative, personalized experiences for residents in assisted living, independent and memory care settings. In his SHN interview, Jesse Marinko talks about his lessons learned in recent years, how he’s approached change and the importance of serving the middle market. Keep reading for insights from this one-of-a-kind leader. SHN: Looking back on your career in senior living, what changes have you led that you’re especially proud of? Marinko: During my time at Benchmark and my time here in Phoenix under my own flag, I’ve prided myself on recognizing the industry’s youth, in terms of how long our industry has been in place. There’s not only a talent shortage, but also a recruitment shortage, and that has been a focused effort at Phoenix. We’ve made a strong effort to create training and educational platforms built for high-touchpoint customer service people by understanding how effective tactics in other industries could translate into senior housing. That’s not the norm, and I am proud of our effort. For senior housing to succeed in its infancy, we’re going to have to bring in new talent and train people who...

Forbes Cloud 100 Aug09

Forbes Cloud 100

Yardi has been named to the Forbes 2022 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. Yardi was a member of the inaugural Cloud 100 in 2016 and is No. 51 this year. “We’re honored that Forbes has again recognized Yardi for our cloud technology and services,” said Jay Shobe, senior vice president of cloud services at Yardi. “Congratulations to all the cloud technology leaders that made this year’s list. It reflects the efforts of our employees and the incredible support of our clients worldwide.” For the seventh straight year, the Cloud 100 reviewed submissions from hundreds of cloud startups and private companies. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people and culture (15%). For market leadership, the Cloud 100 enlists the help ofa judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers. “The companies of the Cloud 100 list represent the best and brightest private companies in this fast-growing sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list — meaning even more elite company for those who do. Congratulations to each of the 2022 Cloud 100 honorees.” “The public markets may be in turmoil, but the private valuations of the Cloud 100 continue to rise. All the 2022 Cloud 100 honorees, again, have reached the $1 billion valuation milestone, and the average Cloud 100 valuation has skyrocketed to $7.4 billion,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “Despite the market correction in 2022, our confidence in the cloud economy continues to grow—today over 70% of the 2022 Cloud 100 Honorees have reached or exceeded $100 million in annual recurring revenue making them cloud Centaurs. An additional 10% of the list is expected to hit this milestone by the end of the year, furthering our conviction that this years’ honorees truly represent the best cloud companies globally.” “Great companies are born out of all environments, and it’s exciting to see the continued momentum in the cloud sector,” said Alex Kayyal, Managing Partner, Salesforce Ventures. “The companies on this list have gone through a rigorous selection process and join an esteemed alumni list of Cloud 100 companies. As the need for digital transformation continues to drive innovation and efficiencies across industries, we can look to these companies as the absolute best in cloud computing.” The Forbes 2022 Cloud 100 is published online at forbes.com/cloud100 and will appear in the August/September 2022 issue of Forbes magazine. About Yardi Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with our clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com. Bessemer Venture Partners Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $19 billion of regulatory assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio). About Forbes Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and...

Preparing For Aging  ...

Planning for the future isn’t always easy, especially for seniors considering how they’ll navigate life as they age. Interestingly, most older adults recognize that they’ll need some form of assistance in the future — but less have concrete plans for how to get there.  That’s the focus of a recent study conducted by AARP, which surveyed 1,011 U.S. adults aged 50 and older. The goal was to gauge older adults’ attitudes related to long-term care planning. Curious about the findings? See below for a snapshot: Senior living study: Preparing for aging   According to the study — Long-Term Care Readiness — 68% of older adults believe they’ll need assistance with their daily activities in the future, but only 28% have thoroughly considered what life will look like when that assistance is needed.   In short, older adults may not be preparing for their aging journey as much as they could be. Relayed by McKnight’s Senior Living, the AARP study also revealed the following:    74% of those aged 65 and older believe they’ll need future assistance, compared to 64% of respondents aged 50 to 65Those aged 65 and older gave more thought to how they’ll live independently as they age, compared to respondents aged 50 to 65Not being able to live independently (63%) and becoming a burden to family members (62%) were the top two concerns noted by all respondentsFewer respondents were concerned about savings (59%), living in assisted living or nursing homes (58%) or not being able to age at home AARP sought to understand the effect of COVID-19 too, assessing whether older adults plan for the future more than they did two years ago. Read the study to learn what respondents said, and uncover additional findings. More research This isn’t the first...

4 Clearwater Communities Aug03

4 Clearwater Communities

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

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 Aug01

House Rules

“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

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 Jul21

10 Years with Yardi

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 Jul19

WeWork Workplace Launched

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

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 

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 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 Jul07

EIA Updates

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

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...