ESG Ready

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 Jun28

National Stars

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

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

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 Jun21

Apartmentalize 2022

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

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

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

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 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...

CFAA Conference Jun02

CFAA Conference

The first in-person Canadian Federation Apartment Association (CFAA) Rental Housing Conference in three years made up for lost time with a wide-ranging assessment of recent market and technology updates. Key themes resounding throughout the three day event include an optimistic multifamily outlook, rising cybersecurity concerns and increasing commitments to environmental, social and corporate governance (ESG). As CFAA’s 2022 Supplier of the Year, as well as a long-term industry partner, Yardi Canada Ltd. occupied a central role in the event. Yardi presenters underscored the importance of marketing technology, talent development, R&D in IoT and energy innovation. Here are some takeaways from those sessions. Confidently moving forward on marketing On the second day of the conference, panel conversions illustrated the value of making property marketing websites SEO-driven, engaging and easy to use for prospects. Parisa Vafaei, regional manager of sales for Yardi, introduced new technology gaining traction in North America: the omnichannel chatbot, this unique marketing tool applies artificial intelligence and integrates with leasing data to help staff prequalify leads. The bot is built to answer questions around scheduling a tour, amenities, property guidelines, signing leases and more – saving staff time and easing labour constraints. This advanced marketing technology has the ability to target and interact with multi-generations, “elevating a business’ competitive edge and priming them for success,” Vafaei said.  Enhancing talent retention incentives Another CFAA session addressed learning management platforms, which became more widely used during the pandemic as a substitute for in-person training. This includes orientation for new employees to professional development and compliance management. Attendees learned how platforms such as Yardi Aspire help property managers work smarter with automated attendance tracking and reporting. With millions of employees considering new job options, on-demand learning management systems are key to retention and stability, according to Patty Evans, Yardi industry principal for Aspire. “If companies offer opportunities to develop skills, employees are more likely to stay in their jobs. When it comes to skill training, more abilities mean more opportunities,” she said, noting that Aspire enables a personalized approach to building skills that avoids an unproductive “one size fits all” training strategy. Solutions for building operations and ESG On day three, sessions centred on another hot topic: smart building operations and technology that satisfies operators’ need for energy efficiency. During one panel, Yardi’s Jacquelyn Bauer, advised CFAA attendees to consult with experts at the outset of planning a new building or upgrading an existing property. With rising smart tech options for smart locks, lights, thermostats and leak detection, “the goal is to create a seamless renter experience and maintain data security with a single connected platform. The frictionless connection will satisfy investors and residents and create a higher ‘wow’ value for your properties,” Bauer said. Smart tech also contributes towards better managing energy and water consumption, a behavioural shift mainly driven by municipal mandates as well as ENERGY STAR® and GRESB reporting requirements. The best approach to a carbon reduction strategy, according to Ryan Bekar, an account executive for Yardi Energy, involves “leveraging technology to track, centralize and benchmark your utility consumption data. These insights will identify low-hanging fruit among your buildings, enabling your team to apply changes at the property level before implementing them across your portfolio.” Final takeaways Information is power and data will revolutionize the real estate landscape. As more organizations publicly release their data, the market needs to prepare for a growing demand for transparency. Industry leaders encouraged CFAA attendees to select a technology partner that simplifies data management while offering solutions that future proofs their business. To get up to date insights on Canada’s multifamily industry, view the recent Yardi apartment report. To learn more about your technology options visit...

Yardi Clients Make

Last year, we shared U.S. News & World Report’s plans to release a Best Senior Living list. And the waiting is over! That list is officially live — and it features nearly 1,300 senior living communities branching from over 80 operators.   The list was crafted to help seniors and their families navigate the challenging process of choosing a community. For the communities listed, U.S. news includes detailed profiles with ratings and testimonials from current residents and family members. While each community listed deserves recognition for their exceptional efforts, we can’t help but share our excitement for the several Yardi clients who were recognized. To each client who earned a well-deserved spot on the list, congratulations! If you’re eager to learn more about the Best Senior Living list, keep reading for a snapshot. Yardi clients make Best Senior Living List In selecting which locations would make the list, U.S. News surveyed residents and families from more than 3,000 participating communities. From that pool, 1,274 were selected and deemed to excel in independent living, assisted living and/or memory care. That includes a batch of amazing Yardi clients who we’re proud to celebrate. Among the Yardi clients selected, several were even recognized as exceling in all three categories. Wondering how our senior living management software helps operators unify operations and enhance care? Read more about tools in the Yardi Senior Living Suite. About the Best Senior Living list Choosing a senior living community for yourself or a loved one can be difficult. But with resources like the Best Senior Living list, that decision-making process gets easier. Courtesy of U.S. News, in partnership with Activated Insights, residents and families from participating communities were asked to rate their experience on things that matter most, including: The kindness of...

Changemaker Series

“Often I’ve found that change comes at the most unexpected times, but I believe that’s what makes our work so meaningful.” Those words come from LCS President and CEO Joel Nelson, a member of this year’s Changemakers class. The annual Changemakers series recognizes bold, strategic leadership in senior living. With leaders like Nelson interviewed by Senior Housing News (SHN) throughout the series, you get an inside look at how industry pioneers are sparking change. Yardi is proud to sponsor Changemakers for the fourth consecutive year. Introducing Joel Nelson Joel Nelson’s career at LCS — a Yardi client and one of the nation’s largest senior living organizations — has been full of change. From starting the company’s real estate business to now operating over 130 communities in the LCS Family of Companies, Nelson is skilled at navigating challenges and developing solutions. In his SHN interview, Nelson shares how being prepared for change is critical, and discusses which changes he believes are vital for the industry’s future. Keep reading for a highlight. SHN: Thinking back on your career in senior living, what are some of the changes you’re especially proud of leading? Nelson: I’ve had the good fortune to be in the industry for the last 36 years, and there have been many changes in LCS and the senior living industry during that time. The one I’m most proud of is when I was given the opportunity to start our real estate company back in 2010. It was transformational for the company and who we are, and it has driven even more changes as a result. There’s a lot to be proud of in this industry, which is why I stuck around for so long. I’ve been on multiple association boards, and for the last couple...

Protect Your Communities

Calling all senior living operators: are you requiring renters insurance in your communities? And not just any renters insurance — trustworthy, comprehensive packages that give residents great coverage at an affordable price. And of course, packages that protect your communities under a broad range of circumstances. You may already know the importance of requiring renters insurance, but perhaps you haven’t made the switch to an all-inclusive solution. Or maybe you’re still weighing the benefits of steering your communities in that direction.   Either way, we have some exciting news to share. Thanks to the dedication of team Yardi, ResidentShield — a proven risk management solution — is now available for senior living. Whether you’re an existing Yardi client or someone new to our single connected solution, we’re eager to show you how ResidentShield can protect your communities, boost resident satisfaction and more. So if you’re still unsure how something like ResidentShield can work for you, just keep reading. Introducing ResidentShield for senior living What exactly is ResidentShield? At baseline, ResidentShield offers reliable risk management plans that provide coverage to residents and protect owner assets from resident-caused loss. You can say farewell to out-of-pocket expenses and time-consuming insurance claims. With ResidentShield, the heavy lifting is done for you, and you, your community, its owners and all residents reap some pretty fantastic benefits. How it works ResidentShield offers flexible combinations to meet your needs. Whichever route you take with this integrated solution, residents access simplified renters insurance — and your communities receive maximum protection. ResidentShield enables: Comprehensive protection — safeguard your assets with ResidentShield Master Policy Program, backed by the most experienced underwriters in the industry.Reliable coverage — reach and maintain 100% compliance via ResidentShield Protection Plan, with automated tracking built into Voyager Senior Housing.Satisfied residents — provide a quick and easy claims service through ResidentShield renters insurance. No residents are denied coverage. Eligible operators can even earn revenue for assisting with program implementation and administration. That means you can cover your communities and keep residents happy, all while improving your bottom line. Benefits for senior enrollees When you choose ResidentShield, senior enrollees can:   Tap into an electronic protection programAccess discounts up to 20%Receive thorough coverageGet timely estimates for valuable assets Contact us ResidentShield is now part of the Yardi Senior Living Suite for senior living providers. Ready to learn more? We invite you to read our ResidentShield brochure. To get in touch with our team about ResidentShield, simply fill out this form. We look forward to...

Commonwealth Senior Living

73 percent of employees at Commonwealth Senior Living say it’s a great place to work compared to 57 percent of employees at a typical U.S.-based company. That’s according to a survey made possible by Great Place To Work, and it’s exactly why this senior living provider earned a place on the 2022 Great Place To Work list. Great Place To Work makes it easy to survey employees, uncover actionable insights and get recognized for exceptional company culture. Across industries, earning a place on the list means employees report a positive work experience — and a true appreciation for their employer and company as a whole. From our team here at Yardi, congratulations to Commonwealth Senior Living for earning a place on the 2022 list! Commonwealth named 2022 Great Place To Work Creating an environment in which employees feel respected and empowered is no easy task. And when it comes to senior living, employers need to treat employees in a way that positions them — and empowers them — to provide excellent resident care. Earning a spot on the 2022 Great Place To Work list, Commonwealth embodies what it means to maintain a great workplace. Drawing from the administered survey, Commonwealth employees reported the following: 89 percent feel their work has special meaning: this is not “just a job”84 percent feel they make a difference at the company82 percent feel a sense of pride when looking at what the company accomplishes82 percent say when you join the company, you’re made to feel welcome80 percent feel people at the company are given a sense of responsibility Great Place To Work also draws top words from employee comments within the survey, which included things like love, care, team and family for Commonwealth. Read more about what makes Commonwealth employees love what they do. Learn about Commonwealth Senior Living Flipping the organizational chart upside down, Commonwealth firmly believes that all home office and regional management positions exist to support the services that are being provided at their communities. Ultimately, the people who are providing the care to residents are the most important asset to the company. Commonwealth has roughly 1,722 employees based throughout the U.S and offers services in independent living, assisted living and memory care. Explore what makes Commonwealth different. This provider’s success with Yardi In order to serve residents with excellence and provide the best care possible, Commonwealth draws help from the Yardi Senior Living Suite. From RentCafe Senior CRM, to Yardi EHR to Yardi eMAR, Yardi’s integrated tools give Commonwealth employees everything needed to devote their efforts to improving residents’ lives. Learn about Yardi’s single connected solution for senior living. We couldn’t be happier to share Commonwealth’s Great Place To Work certification — and congratulate them for their amazing company culture. Be sure to read more about Commonwealth and their efforts in senior...

Changemakers Series

Now in its fourth consecutive year, the Changemakers series showcases forward-thinking leadership in senior living. But not just any leaders earn the honor. The Changemakers title is reserved for those who drive positive change across the industry — and who pursue innovative strategies along the way.  It’s empowering to see how each honoree is transforming the industry as we know it. That’s made possible through in-depth interviews conducted by Senior Housing News (SHN) and sponsored by Yardi. And lucky for you, the first batch of interviews is live. That includes one from Tana Gall, president of Merrill Gardens, a family-owned company and Yardi client. Her story is one you don’t want to miss. Meet Tana Gall From decades of experience in senior living, Changemaker Tana Gall is skilled at problem solving. That comes from her initiative to take risks and forge new paths, which Gall has done throughout her career. Now as president of Merrill Gardens, she has an important perspective on what it takes to spearhead change. In her interview, Gall tells SHN about her bold but calculated risk-taking approach, plus she shares lessons learned from her 27 years in the industry. Keep reading for a highlight.   SHN: Thinking back on your career in senior living, what are some of the changes you’re especially proud of leading? Gall: In the early 2000s, I was able to work with a group on changing our industry messaging. For my first few years in the industry, a lot of the same words were used to describe what we did — respect, integrity, independence. They were generic and didn’t capture what the industry represented, so we took a leap. During my time at Leisure Care, I worked with a very creative group of people to roll...

New Ways to Work May12

New Ways to Work

As workers migrate back to their offices, they’ll enter an environment that’s dramatically more accepting of nontraditional working arrangements than before the pandemic. Most industry observers agree that openness to flexible work arrangements among employers will be the norm. A survey by video messaging platform Loom that found that 90% of workers and managers are happier with the increased freedom they now have to work from home. LinkedIn reports that 1 in 67 U.S. jobs offered a remote work option in March 2020; today, that number is about 1 in 7. Here are a few of the trends workers might encounter when – or if – they return to the office: Hybrid here to stay. Harvard Business Review reported in January that more than 90% of employers plan to adopt a hybrid working model in 2022. “In the U.S., employees expect flexibility within their job as much as they expect a 401(k). Employers that don’t offer flexibility will see increased turnover as employees move to roles that offer a value proposition that better aligns with their desires,” according to HBR contributors Brian Kropp and Emily Rose McRae of the Gartner HR Practice. “There’s no one-size-fits-all approach: Experiment with ‘Team Tuesdays’ or in-person office hours between 12 p.m. and 2 p.m., two days a week. Consider quarterly off-sites that bring far-flung teammates together regularly,” suggests Microsoft in its Work Trend Index 2022 survey report.Growth in AI and automation. The World Economic Forum predicts that artificial intelligence and automation will spark the creation of 97 million new jobs by 2025. AI will affect many existing jobs as well, by automating managerial tasks such as approving expense reports and monitoring direct reports’ completion of tasks and letting workers focus on areas requiring creativity, imagination and high-level strategy....

Changemakers Series

Remember Changemakers — the annual series recognizing pioneers in senior living? It’s a fantastic opportunity to celebrate the innovation, drive and commitment circling the industry, and honor the leaders behind it all. We’re pleased to announce the 2022 series has officially begun. Proudly sponsored by Yardi for the fourth year in a row, the Senior Housing News (SHN) Changemakers series will showcase some of the most dynamic leadership senior living has to offer. Released in batches over the next several months, this year’s interviews will feature never-before-seen insights from visionaries across the industry. In that spirit, meet our first Changemaker: Tom Grape. About Tom Grape As founder, chairman and CEO of Benchmark Senior Living, a dedicated Yardi client, Grape is well versed in spearheading change. Having founded the company in 1997, he embodies what it means to shape senior living as we know it. In his interview with SHN, Grape details how he’s led Benchmark through change to attract a more complex consumer, his mission to increase diversity at the leadership level and more. Here’s a snapshot: SHN: What changes have you driven at Benchmark or in the industry that you’re especially proud of? Grape: I’ve been in the industry for a long time, and I’m proud of having been, at least in the assisted living side, there from the ground up. I was one of the founding members of, then ALFA, now Argentum, and was a chair many years ago. I founded the Massachusetts chapter, helping write legislation in Massachusetts and as a founder of the Connecticut chapter, I take pride in being one of the early folks. Benchmark was an early champion of promoting positive culture, and we are still defined by that characteristic today. The Boston Globe has named us in their “Top Places to Work” list each of the 14 years they’ve had it. We’re the only company to accomplish that in their large company category, and I’m so proud of that. We’re continuing to be a strong proponent of culture. Care, in general, is something on which we’ve worked hard to differentiate ourselves from others. And we’ve become a pioneer in capital over time. We were the first one to bring opportunity fund capital and international capital to the sector, and we were one of the first RIDEA deals. SHN: How do you think about timing so that a company like Benchmark can innovate without getting so far ahead that a new idea is just too new? Grape: The best way to drive change is to do it in increments. We’ll start with a pilot, depending on what kind of change it is, to test it, tinker with it and work out some of the kinks. If it’s not being well-received but you think the execution is OK, then maybe you’re doing it too soon. I would try to avoid too many broad-scale changes at once without having done some form of test or early introduction. SHN: If you could change one thing about the senior living industry, what would it be? Grape: I’d love the senior living industry to find a way to have our product/service received in a more universally positive fashion. Our product is a real gift to the people we serve and yet, it is not always received as such. It’s not always delivered as such. If we can have it delivered, received and portrayed more consistently it would be a great advance for the industry. Read Tom Grape’s entire interview To read the rest of Tom Grape’s conversation with SHN, check out the full interview. To learn how Yardi solutions help providers like Benchmark drive positive change, explore our Senior Living Suite infographic or product...

Ready to network?

Argentum is well known for their advocacy efforts in senior living. From influencing policy decisions to informing the public about pressing issues, they’re always working to better the lives of older adults.   This makes their annual conference a can’t-be-missed opportunity. The event gathers thousands of senior living professionals, operators, owners, executives and community leaders to discuss the future of senior living. And this year, you can connect with team Yardi at booth 805. Ready to network at the Argentum Senior Living Executive Conference? We’ll see you May 16-18 at the Minneapolis Convention Center. Come to booth 805 There’s no denying the importance of technology in today’s senior living landscape. Integrated, comprehensive solutions like the Yardi Senior Living Suite have the tools needed to unify operations, increase move-ins and enhance resident care. But that’s just the tip of the iceberg. Our single connected solution has undergone some powerful enhancements lately, and each improvement was built to power your communities like never before. With that in mind, we invite you to meet team Yardi at booth 805 come Argentum 2022! We’ll answer any questions you have, whether it be on the Senior Living Suite as a whole, or individual tools like RentCafe Senior CRM and Yardi EHR. We can’t wait to show you what’s new with each product — and demonstrate how everything connects on a single platform. Want to get something on the books in advance? Schedule time to meet with us at Argentum. Start exploring our single connected solution Eager to learn more about Yardi before Argentum? Check out our newest infographic to see how our software evolves — with functionality like electronic signatures — to help operators succeed. We walk you through every step of our electronic leasing process, and offer testimonies...

Energy Honors May08

Energy Honors

Each year, the U.S. Environmental Protection Agency (EPA) honors a group of businesses and organizations that have made outstanding contributions to protecting the environment through superior energy efficiency achievements. As a Service and Product Provider, Yardi is honored to receive the 2022 ENERGY STAR® Partner of the Year Sustained Excellence Award from the EPA and the U.S. Department of Energy after being named Partner of the Year for four consecutive years. The award celebrates companies that offer energy services and products in the commercial, institutional or industrial markets for successfully assisting their clients in strategic energy management and building design. Highest EPA Accolade The Sustained Excellence award is the highest honor bestowed by the ENERGY STAR program. Its winners have made a long-term commitment to fighting climate change and protecting public health through energy efficiency. They are among the nation’s leaders in driving value for the environment, the economy and the American people. Partner of the Year winners are not only promoters of ENERGY STAR, but also are especially adept at operating within the programs and work with ENERGY STAR to make ongoing improvements. The award acknowledges Yardi’s efforts to educate and support clients with benchmarking services and technology solutions across a variety of real estate sectors. Energy wins According to the EPA, in 2020 alone, more than 270,000 commercial properties used EPA’s ENERGY STAR® Portfolio Manager® tool to measure and track their energy use, water use, and/or waste and materials. These buildings comprise more than 25 billion square feet of floorspace more than a quarter of all the commercial floorspace in the nation. In 2021, Yardi helped more than 200 clients benchmark energy in ENERGY STAR Portfolio Manager for over 5,000 buildings, a 42 percent increase from the previous year. Yardi helped clients benchmark water in over 4,000 buildings, a 33 percent increase from 2020. In addition, Yardi actively promotes ENERGY STAR benefits, publishing 70 articles and providing resources for benchmarking energy performance and energy management such as webinars, client conferences courses, executive briefings sessions and other activities. “We’re so proud to receive this top honor from the EPA for the fourth consecutive year, and we again applaud our clients’ success. We look forward to continuing to help our clients and the real estate industry reap the benefits of using ENERGY STAR to meet their business and sustainability goals,” said Akshai Rao, vice president at Yardi. Learn more Find out how Yardi empowers real estate companies to meet energy and sustainability goals. See the complete list of 2022 ENERGY STAR Partner of the Year award...

11 Big Ideas

More than 800 people joined the Apartment Innovation and Marketing Conference in Huntington Beach last week for four days of learning, networking and fun. The REACH by RentCafe digital marketing agency was in attendance as marketing leaders and multifamily experts from across the country took the stage to share both strategies and results. Here are some quotable moments from this incredible event to help you get inspired for your next campaign. Connect with the speakers by clicking on their names. Making marketing matter “What does it mean to be in marketing? Your job is to make a brand cool and don’t get it sued.” Nick Tran, former global head of marketing at TikTok “Be authentic. Trends aren’t one-size-fits-all. Do what works for your brand and each community.” Sarah Wieman, PRG Real Estate “In marketing, we don’t want to be order-takers. We want to be decision-makers. Stop treating yourself as support. Bring data to the table so you can come in with value.” Kelley Shannon, Bozzuto “For marketing to work in a silo, you might as well just go stand against the wall and bang your head. Getting more traffic isn’t the highest and best use of your marketing dollars. Educate your team about the value marketing brings to the table and how it impacts ROI.” Gigi Giannoni, Gables Residential “SEO should be a foundational element for you. Why would you put money in places with diminishing returns when you could make a winning long-term play?” Melissa Cartagena, Greystar Give renters what they want “We’re focused on our brand and the lifestyle, but we know from looking at our analytics, lifestyle images aren’t necessarily what sells. Lifestyle helps bring your story to life, but we need core property content and images to sell units.” Tim Hermeling, Cortland “Only 2% of residents say property management overcommunicates. And 45% of residents think their rent will stay the same or go down. Are you setting realistic expectations?” J. Turner Batdorf, J. Turner Research “A full 90% of renters are either interested in or won’t rent without soundproof walls. This feature ranks only slightly below air conditioning and in-unit laundry, and yet is advertised by very few properties.” Sarah Yaussi Pienik, NMHC Social media content is queen “We have not traditionally trusted our leasing teams with social media. But in reality, they’re the closest to your customers. Give them the power to create content. They can become the ultimate creators for you.” Kristi Fickert, Realync “You can reach so many more potential renters on Pinterest. Did you know 72% of users use Pinterest to decide what to buy offline?” Brooke Atsalis, The Management Group “I didn’t have any expectations when we tried TikTok, I just didn’t want to offend anyone. We’re in lease-up; we need velocity. We’ve gotten 74 leads. A very interested lead slid into our DMs. I’ve been pleasantly surprised.” Kira Brown, Wood Partners #REACHpeace The REACH team was also able to donate an additional $1,250 to Direct Relief International to provide aid in Ukraine because of engagement at the event. Thank you to all who participated. We look forward to seeing everyone next year at AIM...