The largest Multifamily Social Media Summit ever brought more brilliant suggestions to multifamily marketers on Thursday at the Meritage Resort and Spa in Napa, Calif. REACH by RentCafe is the social media, photo booth and platinum exhibit sponsor of the 10th anniversary event, which concludes today. Andrew Davis, acclaimed marketer, best-selling author and filmmaker, opened Day Two of the event with a humorous and engaging talk about how constraints – as small as technology challenges and as large as a worldwide pandemic – can breed creativity for any business. “I started to realize that this was really an unexpected experiment that we had been gifted,” Davis said of the unforgettable global events of the last two years. “It allowed us to ask: What happens when every business in the world is faced with the exact same disruptive forces?” The solution to extreme disruption, as presented by Davis, is to forget the adage “think outside the box” and instead go INSIDE a box that he calls “The Cube of Creativity.” Read on to learn how the Cube works and glean more takeaways from this trend-defining marketing event. The four sides of the Cube of Creativity Davis presented two dynamic case studies from non-housing businesses that faced extreme challenges during the pandemic. One was a flower delivery service that had to relocate its distribution channel to Ecuador because of California’s non-essential worker shutdown. Another was a sustainable farm that previously relied on in-person events for its livelihood. 1. Eliminate the unnecessary: Taking on dynamic new initiatives means that some existing work will have to drop off. “Ask yourself, what are we going to drop doing in order to pursue this brand new initiative,” Davis said. “Every time we take on something new, we have to kill...
Social Media in Focus
Day One of the Multifamily Social Media Summit
REACH by RentCafe is excited to be at the Multifamily Social Media Summit in Napa this week as the social media, photo booth and platinum exhibit sponsor of the event, which kicked off Wednesday afternoon. Celebrating its tenth anniversary, this edition of the #MultifamilySMS is the best attended ever, shared Adam Japko, founder of Esteem Media, which produces the conference. Multifamily providers from around the U.S. are on hand to gain knowledge, improve their social media marketing best practices, network and meet with industry vendors. A significant focus of the first day’s learning workshops was on the importance of User-Generated Content (UGC) to a successful and current social media strategy. Speakers Erica Byrum and Delany Duke both dedicated portions of their energetic presentations on how UGC, both from residents and employees in the multifamily housing realm, can generate trust and engagement from users. “In 2022, what makes good marketing is authenticity. The majority of consumers are looking for an authentic experience,” said Duke, digital services manager for Landmark Properties, a student housing provider. “UGC is important because it allows us to market our properties through the eyes and ears of our residents.” Three key statistics to consider: 92 percent of marketers think they’re creating authentic contentBut just 51 percent of consumers think their favorite brands offer authenticityMeanwhile nearly 80 percent of consumers say that UGC impacts their decision to make a purchase. Duke suggested a variety of ways to encourage staff and residents to create social posts, particularly videos for TikTok and reels for Instagram, which have become overwhelmingly popular especially for the Millennial and Gen Z demographics. Contests and giveaways, always a mainstay to encourage content, are one. Other ideas from both presenters include working with micro-influencers and harnessing the creativity of your site teams. Many marketers have struggled with how to create TikTok videos and reels that capture compelling housing content, and Byrum, co-author of Youtility for Real Estate, offered myriad suggestions to meet the challenge. “There’s definitely a niche audience on TikTok that loves a good apartment tour, and opportunities to tap into lifestyle drivers,” she said. Content like recipes, home décor, budget and finance tips, health and fitness and city highlights are all great fodder for housing-focused TikTok accounts that would reach renters. And when it comes to working with staff on on-site content for TikTok and Instagram, Duke offered advice that got big laughs: “The most common thing I hear from site teams is: ‘I’m not going to dance!’ But you don’t have to dance.” (Although you can, if you want to! And it will probably do well.) Here is a quick list of trend takeaways from Wednesday’s sessions: Spend time on the social channels where your residents are most engagedStrategically adapt your content strategy for social in accordance with today’s trendsBrand consistency takes you to the next level in marketingVideo content will continue to dominateMicro influencers may be among your residents – take advantage!Engage your on-site employees for UGCFair housing laws must still be followed on digital channels. Make sure your team is trained and educated If you’re in attendance at the event, meet REACH representatives at booth 36. Pick up a special gift, learn about the many ways REACH can improve your social media marketing, and snap fun photos at the photo booth! You can also check out our free social media toolkit at https://bit.ly/3irV2Lc for resources and tips to keep you connected all week. Follow #MultifamilySMS to keep up with the event...
Brightview’s Botanist...
Passion for Plants
Looking for tips to help your indoor plants thrive? It’s a good thing that Dr. Joan Gottlieb, a resident at Brightview Commons, has years of expertise and knowledge to share. We’re loving Joan’s feature on Brightview’s blog, which dives into her botanist journey, top tips for keeping indoor plants alive and more. We hope Joan’s story and ideas make your day a little brighter — and help you channel your inner botanist. A passion for plants: Brightview’s resident botanist From earning her undergraduate degree in biology to completing her Ph.D. thesis on plant hormones, Brightview resident Dr. Joan Gottlieb has always loved botany. After finishing school herself, Joan went on to teach science and biology courses, plus she led botany seminars for advanced students. But Joan didn’t stop there. She also traveled the world as part of botany field study programs visiting New Zealand, China, Costa Rica, Ecuador, the Galapagos Islands, Hawaii, Trinidad and Tobago to study the local flora. Outside of the classroom and her travels, Joan kept her passion alive by housing over 180 ferns in her home garden. “I’ve had a wonderful life with this passion of mine,” said Joan. “It’s taken me around the world, makes me happy to be indoors and I can write about them. I’m happy to have that. You only live once, and you want to do something that pleases you, has some youthfulness and makes the world a better place.” Now residing at Brightview Commons, Joan continues her passion by caring for her own plants, working on the community’s garden and teaching classes to fellow residents. Start your own garden with Joan’s tips Inspired to start your own indoor garden — or revitalize the plants you have now? Look no further! Joan shares four...
Reimagine Staff Resources
5 Affordable Housing Trends
Attracting top talent and retaining valuable employees is a top priority for many organizations, including those in the affordable housing industry. As economic systems evolve during the recovery from the COVID-19 pandemic, affordable housing providers have an opportunity to rethink what to expect from their onsite workers. Many are finding that this is a great time to change their strategy and improve the services they offer to prospects and residents. Ready for a look at what the makeup of your onsite staff and compliance team could be? Here are 5 ideas to consider: 1. Prioritize Customer Service Safe and healthy communities start with your onsite team placing the highest priority on resident services. Hire onsite workers for their property management skills and leave the complexity of compliance to a dedicated team of experts. And don’t neglect your investment in technology, today’s workforce expects the right set of tools to do the job. “Property management is a hard job, and affordable housing compliance makes things even more complicated. The next generation of property managers can only be comfortable with a certain level of technology in place to help them be successful. The old ways of paperwork, phone calls and in-person meetings just aren’t an option moving forward,” says Anna DiSabato, vice president of Dunlap and Magee in Phoenix, Arizona. 2. Outsource Compliance Work Speaking of compliance experts, Yardi RightSource offers scalable services that fit your specific needs. Affordable housing providers that use Yardi Voyager can securely send data to RightSource and get: Fast file reviews and audits with guaranteed response timesFull-service certifications and recertificationsAutomated forms management for programs across the country Dunlap and Magee is in its final stages of implementing Yardi RightSource and is already seeing measurable results. With RightSource, they see file audits complete within 24 hours and can have fully approved, move-in ready tenants usually within five days of initial contact. 3. Solve Compliance Challenges Is there a particular affordable housing compliance challenge that your organization can’t seem to fully resolve? Or, is there a new initiative or affordable housing program your team is taking on? Yardi RightSource can help with consulting and training services built on decades of combined affordable housing experience. 4. Boost Institutional Knowledge People want to work for an employer that can make them more valuable, and offering top-notch training is a great way to make it happen. By elevating employee knowledge, affordable housing professionals not only become more knowledgeable, and promotable but also are able to demand higher wages. While that may sound like a cost to employers, you can also look at it as a great way to attract top talent and inspire less experienced team members to grow. Create an employee university with Yardi Aspire, Yardi’s comprehensive learning management platform. Aspire includes customizable online coursework that covers every major real estate management industry, including affordable housing. With Aspire you can assign tracks of courses, view learning metrics, make company announcements and more. 5. Get More from Remote Workers Enduring the challenges of COVID-19 taught us that it’s possible, and not too much of a challenge, to keep business processes moving even as workers transitioned to remote workspaces. Developing technologies for affordable housing are helping to make remote workers and contactless service delivery more effective. Yardi mobile solutions streamline payment processing, procurement, compliance workflows, resident communication and more. RentCafe Affordable Housing has changed traditionally paper-based affordable housing applications into online forms that can be completed and worked on 24/7 from most handheld devices and personal computers. Affordable housing applicants use RentCafe to search for a unit, submit documentation of eligibility, work with case workers to qualify and complete the leasing process without coming in for multiple in-person meetings in an office space. Yardi Procure to Pay and Payment Processing are perfect solutions for accounting departments that need remote access. Procure to Pay enables online shopping for property supplies with fast and...
YASC GLOBAL
2022 Event Recap
Yardi held three days of educational online programming for clients March 8-10. This year’s digital Global Yardi Advanced Solutions Conference (YASC) focused on how technology can help meet the needs of today’s real estate industry across multiple verticals. More than 15,000 Yardi clients worldwide attended the three day event, and viewed more than 300 classes covering all aspects of Yardi’s technology offerings. More than 100,000 classes were attended over the the three days. In today’s challenging economy, efforts to automate and improve processes wherever possible can help overcome staffing challenges. Yardi executives showcased the company’s multiple product suites during overview spotlight sessions, which can be of tremendous help for business efficiency. Read on for some of the highlights. Meeting the changing needs of commercial clients Perhaps no real estate sector has experienced more changes during the pandemic than commercial real estate. Many offices have sat dormant for months or more while employees worked from home. The retail and restaurant landscape has been altered greatly. And the industrial and self storage sectors have seen a huge boom in demand. More than two years since the first U.S. lockdowns, impacts are being observed across CRE, said Yardi senior vice president Rob Teel. “I spend a lot of time with our office clients, executives and users of Voyager and our commercial product suite. It is true that vacancy is starting to creep up. Occupancy numbers are hipping a little bit – though not as much as people thought would happen during the pandemic.” As a result, creative owners and managers are exploring alternative uses for office space. They include coworking, either self-managed or working with a partner, which the Yardi Kube suite is perfectly positioned to help manage. Others are turning to mixed use, which opens the...
LCS Recognized In
Architecture & Design Awards
If you’ve kept up with the Senior Housing News Architecture & Design Awards, you may have seen this spotlight on Life Care Services (LCS), a Yardi senior living client. In any case, we’re sharing a snapshot below and extending a big congratulations to LCS. Keep reading to learn how LCS channeled forward-thinking design to create a one-of-a-kind community. The SHN Architecture & Design Awards The SHN Architecture & Design Awards, an annual series, provides a chance to recognize cutting-edge design, excellence and innovation in senior living. Among this year’s winners is Life Care Services, a senior living operator offering assisted living, independent living, skilled nursing and memory care options. LCS earns best independent living design of 2021 While LCS operates fantastic communities nationwide, their Sagewood life plan community in Phoenix, Arizona earned them the SHN accolade. Since the community’s opening in 2010, LCS has focused on providing resort-style living — and they’ve recently taken that approach to the next level. Their latest expansion includes a 101-unit independent living building equipped with an underground parking garage, game rooms, an art studio, a cafe, three unique dining venues and an 18-hole golf putting course with real grass. To no surprise, the expansion is almost fully occupied today, which shows just how much residents love the design and amenities. And it explains why LCS earned a spot in the SHN Architecture & Design Awards, honored for best independent living design of 2021. There’s much more to cover, so we invite you to read the full SHN coverage featuring LCS’ Sagewood community. More on LCS For Life Care Services, an exceptional lifestyle is not created by one moment, meal or gesture. It’s defined by an unwavering promise to quality and unmatched commitment to enriching experiences for...
Yardi Buildings Earn
ENERGY STAR Certification
Yardi has successfully incorporated energy efficiency at multiple locations across the property management industry – including the home front, where the company recently earned separate ENERGY STAR® certifications for two office buildings at its corporate headquarters campus in Santa Barbara, Calif. ENERGY STAR, a voluntary U.S. government program that certifies buildings and consumer products as meeting certain standards of energy efficiency, rated one building a score of 86, signifying that it’s more energy efficient than 86% of similar properties nationwide. The second building received a score of 80. The certification threshold is 75%. Yardi benchmarked the two buildings, which encompass 170,000 square feet, in Portfolio Manager®, an ENERGY STAR interactive online resource management tool that measures and compares building energy use. On average, certified buildings use 35% less energy and generate 35% fewer greenhouse gas emissions than their peers, according to ENERGY STAR, which is jointly managed by the Environmental Protection Agency and the Department of Energy. The buildings’ certifications continue a years-long series of Yardi energy efficiency achievements. For example, the company helps hundreds of clients benchmark energy and water consumption in thousands of buildings, participates annually in Energy Efficiency Day, and promotes energy optimization software in client conferences, industry publications and other educational venues. In 2021 Yardi received a Partner of the Year Sustained Excellence Award, the ENERGY STAR program’s highest honor, after earning Partner of the Year designation for three consecutive years. Also that year, the company earned a regional Energy Project of the Year award from the Assn. of Energy Engineers for helping to optimize HVAC performance in a 58-story building in New York City. Referring to the building certifications, Joe Consolo, industry principal for Yardi, said, “Yardi is pleased to meet ENERGY STAR standards in its own operations using...
Sports Arenas
Score Sustainability Points
Sports arenas attract vast attention with their aesthetic qualities, luxurious amenities, association with high-profile teams and iconic imprint on city skylines. But did you know that beyond their opulence, many modern arenas represent leadership in sustainability? “Many sports venues have jumped on the sustainability bandwagon to construct or renovate their structure in a race to minimise their carbon footprint, preserve their green legacy and take the lead in innovation,” says London-based Climate Action, which partners with business, government and public entities on sustainability projects. Sports arena sustainability is a global trend. Examples include: The Johan Cruijff ArenA (formerly Amsterdam ArenA), home of the Ajax football club. The Netherlands’ largest stadium employs more than 4,200 solar panels and a wind turbine. Its main building includes an energy-generating escalator and an energy system powered by second-life batteries from used electric vehicles.Mercedes-Benz Stadium, where the NFL’s Atlanta Falcons play their home games. In November 2017, soon after it opened, Mercedes-Benz became the first professional sports stadium to receive a platinum Leadership in Energy & Environmental Design (LEED) certificate for meeting rigid standards for carbon, energy, water, waste, materials and other factors. The arena’s energy consumption is reportedly 29% less than what the average stadium consumes thanks to LED lighting and 4,000 rooftop solar PV panels. A stormwater management system can store over 2 million gallons onsite, preventing flooding in surrounding areas.Levi’s Stadium in Santa Clara, Calif. The home of the NFL’s San Francisco 49ers since 2014 has earned two LEED certifications, including the first Gold LEED certification awarded for a stadium that hosts a professional team, plus a second Gold certification for operations and maintenance. Levi’s also incorporates 1,000 solar elements and sources 78% of its food from within 150 miles of the stadium. Seattle’s Climate Pledge...
Conservation Ideas
World Water Day: March 22
World Water Day has continued to draw attention to the importance of conserving fresh water since our report on the annual observance four years ago. With the United Nations reporting that 2.2 billion people lack access to safe water, preserving the 0.5% of the world’s water that’s available fresh is a more urgent priority than ever. Created by the UN and observed on March 22 every year since 1993, World Water Day focuses on sustainable management of freshwater resources, with a different theme every year: groundwater this year, valuing water last year, water and climate change in 2020, leaving no one behind in 2019. “These observances aim to highlight that water and sanitation measures are key to poverty reduction, economic growth, and environmental sustainability,” notes the Indian Express news service. Like many conversation efforts, small efforts close to home can yield big results. Consider these tips from the U.S. Environmental Protection Agency and other experts: Repair leaky faucets, indoors and out. The EPA says installing water-efficient fixtures and applicants can cut water use by at least 20%. Check your meter, don’t running water in the house then check two hours later. If the reading moved, there’s a leak. Monitor your water bill for unusually high use. Consider replacing old washing machines, dishwashers and other equipment with more efficient models. Look for appliances and systems with ENERGY STAR® or WaterSense® labels.Eliminating just one load of dishes per week can save nearly 320 gallons of water annually. Replacing a clock-based irrigation controller with a WaterSense-labeled one can reduce an average home’s use of irrigation water by up 30% and save up to 15,000 gallons of water annually. Just turning off the tap while brushing your teeth can save eight gallons per day.WaterSense showerheads can save $70...
Connect with Yardi
NIC Spring Conference
It’s nearly time for this year’s NIC conference, an important gathering of operator, investor and health care decision makers. If you’re ready to explore the latest trends and data in senior living — while discovering new models of care — the NIC Spring Conference is the place for you. The conference will take place in person on March 23-25 in Dallas, Texas. We look forward to seeing you there! Connect with Yardi Team Yardi can’t wait to speak with you at NIC 2022. We’ll be available to chat about the Yardi Senior Living Suite, our integrated software solution built for the unique needs of operators like you. And since the conference is data-focused, we’ll show you how our business intelligence solution offers metrics that matter for your business. Senior IQ presents actionable information in attractive, sharable dashboards to help your teams work smarter. Plus, we’ll explore how this uniquely-designed tool allows operators to gauge performance using industry comparison data from NIC. That’s right — Senior IQ uses anonymized NIC MAP data from nearby providers to present benchmarks like occupancy, average rent and more. Ready to schedule time to connect? You can fill out this form to meet us at NIC 2022. We’re also pleased to sponsor NIC Café at the conference, where attendees access complimentary, all-day service of breakfast, lunch and snacks. More info on NIC 2022 The National Investment Center for Seniors Housing & Care (NIC) supports access for America’s seniors by providing data, analytics and connections that bring together investors and providers. This mission is the foundation of the 2022 NIC Spring Conference. NIC 2022 offers an opportunity for all attendees to build strategic partnerships and discover new models of community. Don’t miss your chance to connect with forward-thinking leaders...
Fil Southerland
Named HITAC Member
Yardi Director of Health Care Solutions Fil Southerland has been appointed to the Health Information Technology Advisory Committee (HITAC). The Comptroller General of the United States and head of the U.S. Government Accountability Office announced the appointment of Southerland, along with 6 other members, to serve a 3-year term. Southerland brings extensive experience and perspective to the HITAC, where he’ll be a strong advocate for implementing health information technology in senior living. Members in other health care industries that were recently appointed include Hans Buitendijk, Steven Eichner, Rajesh Godavarthi, Hung Luu, Aaron Neinstein and Eliel Oliveira. The HITAC was established in 2016 under the 21st Century Cures Act. The committee provides recommendations to the National Coordinator for Health Information Technology on policies, standards, implementation specifications and certification criteria. Specifically, relating to the implementation of health information technology that advances the electronic use of health information. “I’m honored to serve on the Health Information Technology Advisory Committee,” said Fil Southerland, director of health care solutions at Yardi. “The opportunity gives myself, and my fellow appointees, a platform to discuss pressing issues and advise the National Coordinator for Health Information Technology accordingly. I’m pleased to bring my experience to advocate for the electronic access, exchange and use of health information in the LTPAC industry.” Fil Southerland has been involved with the LTPAC industry for over 15 years and currently serves as director of healthcare solutions at Yardi, where he leads initiatives in electronic health care records and interoperability. Prior to his time at Yardi, Fil served as Founder and CTO of ALMSA, Inc., a nationally recognized cloud-based electronic health provider in the assisted living industry. With expertise in health information technology, digital privacy, LTPAC policy and interoperability initiatives, Fil is passionate about using technology to...
YASC Global
Virtual Event March 8-10
The Yardi Advanced Solutions Conference, which gives real estate industry practitioners valuable insight into software innovations and industry issues, adapted to pandemic conditions with successful interactive virtual presentations in 2020 and 2021. That new tradition will continue March 8-10 with YASC Global, presented free to all Yardi clients. YASC Global delivers education and business growth with hundreds of on-demand classes and executive spotlight sessions. All class content from the May 2021 event is being recreated for YASC Global. Attendees can interact with colleagues and direct questions to Yardi experts via a proprietary live chat feature. All clients are automatically preregistered in YASC Global, making it easy for them to connect, innovate and grow in their business. As with previous virtual YASCs, the event will feature customized education content from the Yardi® Aspire platform. The virtual YASC presentations in 2020 and 2021 drew tens of thousands of participants from more than 60 countries. Along with YASC Global, Yardi is planning to offer in-person YASCs in San Diego, Sydney, London and Singapore in 2022. Learn more about YASC activities. Read client feedback on the value of...
ESG Insights
OSCRE Webinar Recap
Are you ready for new ESG regulatory requirements and increasing investor demands? OSCRE Innovation Forum’s recent webinar, Constructing an ESG Framework for the Future, provided expert insight into this critical initiative. Moderated by Lisa Stanley, CEO at OSCRE, the panelists were Dan Winters, Head of Americas at GRESB, The Global ESG Benchmark, Naseem Wenzel, Strategy + Innovation Lead Partner at Cohn Reznick and Daniel Egan, Senior Vice President, Energy and Sustainability at Vornado Realty Trust. Read on for some important takeaways. Top ESG challenges A polling question during the webinar asked participants to identify the top challenge they face for ESG initiatives. 42% cited inconsistent data across platforms, tied with 42% that stated building skills to implement ESG initiatives are the top challenges. In its January e-newsletter, OSCRE responded to the polling results, “Inconsistent data across platforms is not a new phenomenon for organizations…While investment funds report their activities including zero-carbon targets and other environmental impact initiatives through their Annual Reports and GRESB benchmark reports among others, the information that’s reported is gathered at the property level. This need for information confirms common ground — the need for standardized information for property owners, occupiers and investors that inform decisions and provide insight for risk assessment.” Clearly, there’s a need for not only impeccable data from a centralized location (a single source of truth), but also the ability to automatically extract and properly analyze it for meaningful application. This applies to ESG efforts as for all other operational processes. Good corporate governance Organizations must assess where they are today — including the level of responsible corporate leadership, to create a roadmap for where they want to go. Having an “ESG culture” across your business is key, meaning ESG is part of everyone’s job, as is...
Meet the Athletes
Of Sagora Senior Living
We’re always searching for inspiring stories in senior living. And today’s story, brought to us by Yardi client Sagora Senior Living, is one you don’t want to miss. We’re here to spotlight Sagora’s blog series — Breaking Boundaries: Meet the Athletes of Sagora Senior Living — which recognizes resident athletes in Sagora communities. And while the series was inspired by the 2021 Summer Olympics, with the 2022 Winter Olympics in full swing, there’s no better time to feature these distinguished seniors. Breaking Boundaries: Meet the Athletes of Sagora Senior Living In an effort to help their residents shine, Sagora kickstarted a spirited blog series last summer. Each post follows a different resident and their exercise-related accomplishments. And while some residents are retired coaches or athletes, some simply found a passion for exercise within Sagora communities. Walking with Kay Meet Kay, a resident from Bristol Park at Cypress, a Sagora community in Texas. Kay’s blog post focuses on her inspirational journey: walking on her own. Since having a stroke over two years ago, Kay hasn’t been able to walk without assistance. After a conversation with the community’s lifestyle director, voicing her dream of walking again, Kay began a specialized exercise program. With the right equipment, Kay started reaching new personal records each day. And she’s no stranger to dedication. Her mantra is, “I believed I could, so I did!” Photos and videos were shared with Kay’s family, as well as on the community’s Facebook page. Ready to feel inspired? Watch Kay’s progress. Coached by Arlene Say hello to Arlene, who resides at Sagora’s Ansel Park community in California. This exercise guru was a competitive badminton player and winner of the Arizona singles, doubles and mixed doubles tournaments. From there, Arlene went on to...
The Brighter Side
Seniors Age Well Study
The pandemic has been a challenging time for seniors. But we’re here to show the brighter side, focusing on how resilient they’ve been through it all. We’re excited to share this Age Well Study by the Mather Institute. It’s full of interesting findings, but best of all, it highlights seniors’ strength during the COVID-19 era. See below for a summary: Study highlights seniors’ resilience during COVID-19 Shared by McKnight’s Senior Living, the latest release from the Mather Institute’s Age Well Study examines seniors’ stress levels and resiliency during the pandemic. The findings — gathered from year four of the five-year study — are based on responses from 3,441 residents at 122 different Life Plan Communities across the U.S. Taking a step back, the initial goal of the study was to assess the impact of residing in a Life Plan Community. Respectively, the impact on residents’ health and wellness over time. And since year four took place during the pandemic, the Age Well Study took a slight pivot. How has COVID-19 affected seniors’ health and wellness? Have seniors become more resilient during this worldwide health crisis? What strategies help them mitigate stress? To find out, the Mather Institute analyzed: Individual characteristics (personality, personal resources, demographics)Organizational characteristicsChanges in the quality of social relationshipsCoping strategies during the pandemic The findings At a glance, the Mather Institute’s research shows: Residents, on average, exhibited low levels of stress and high levels of resilience during the pandemicThose who were open to new experiences, who exhibited higher levels of extroversion and agreeableness, were less likely to exhibit stress and more likely to exhibit resilienceResidents who maintained quality relationships with children exhibited greater resilienceResidents who meditated during the pandemic were less likely to exhibit stressResidents who lived in smaller communities were...
Senior Living Webinar ...
Register today!
How should providers maneuver the latest roadblocks in senior Living? From staffing to compliance, there’s a lot to unpack. And it’s a crucial time for industry leaders to discuss these issues — and offer solutions for the year ahead. Fortunately, that’s exactly what’s happening on February 23. Get ready for an informative McKnight’s Power Panel — Pandemic Year III: Keys to Success — sponsored by Yardi. The virtual roundtable starts at 1 p.m. EDT and you don’t want to miss it. Pandemic Year III: Keys to Success The McKnight’s Power Panel will feature top experts from different verticals across long-term care. They’ll explore the latest issues in senior living, including staffing, compliance, reimbursement, technology and other vital subjects, then they’ll focus on tactics for the future. Join the webinar to see firsthand. You’ll learn from panelists like Yardi expert David Bellew, with takeaways on: Controlling labor costs through staffing analysisAutomating investor reportingProperty acquisitions: data planning and conversionOptimizing care service billingGoing mobile: enterprise mobile device strategies The webinar will also feature panelists TJ Griffin, chief pharmacy officer at PharMerica, Brendan McNamara, chief executive officer at Sound Physicians and Jesse Coiro, general manager and director of health and healthcare at Erlab, Inc. More on panelist David Bellew David Bellew is an accomplished leader in the healthcare industry. Currently serving as the Director of Client Services here at Yardi, David has over 20 years of experience implementing enterprise software systems. Through years of dedication, he has become highly skilled in requirements analysis, as well as managing implementations for ERP and clinical systems. Register today We hope you’ll join the conversation on February 23! Mark your calendar now and register for the McKnight’s Power Panel. To explore Yardi solutions in senior living, check out our Senior Living...
Commercial Retrofits
A Beginner’s Guide
It’s never too late to give an existing structure a greener lease on life. Retrofits offer commercial building managers an opportunity to improve efficiency and drive cost savings. If you’re just getting started, the four retrofit methods below are a great starting point for sustainable practices. Observe, benchmark and improve your energy consumption. Monthly bills are not enough to accurately determine the efficiency of a commercial site. Retrofits connected to the internet of things (IoT) provide real-time insights into energy consumption. Explore usage based on subleased portions or the entire building. What’s best, you can implement IoT retrofits at a speed that matches your budget. Commercial managers often begin with submeters. Submetering offers insights into building performance while facilitating average savings of 2-5%. Implement supportive technology such as energy benchmarking to help you meet compliance regulations for ESG platforms like ENERGY STAR®. Promote water efficiency regardless of your location. Dry, arid regions have long prioritized end-user water conservation. Interest has grown nationwide: efficiency offers economic benefits to all managers regardless of the site’s location. Retrofits for cooling towers and chillers are a great place to implement efficiency measures. Such retrofits will have the most notable impact since they can consume tens of thousands of gallons each day. Smaller projects, such as fixtures, may follow. Streamline HVAC operations to reduce waste and increase comfort. The efficiencies of HVAC systems decline naturally over time. Promoting optimal operation and occupant comfort requires consistent maintenance and smart controls. Networked controllers and cloud-based management software enable you to monitor and manage usage. Smart thermostats and monitoring technology can offer up to 30% energy savings while slashing future maintenance costs. Improve indoor air quality (IAQ). Americans spend about 90% of their time inside. Indoor air contains a higher concentration of...
Looking Ahead
RE Trends for 2022
We compiled predictions from expert observers to get a sense of what’s in store for the real estate industry in 2022. Excerpts follow. Foreseeing a ‘whirlwind housing market’ Pandemic-ignited home-buying, driven by supply shortage and low mortgage rates, shows no signs of slowing down. “We expect a whirlwind 2022 for the housing market,” says Danielle Hale, chief economist for Realtor.com, with home sales increasing 6.6% and home prices 2.9% above 2021 highs despite a small uptick in inventory. While affordability, rising interest rates, and supply and labor shortages will continue to pose challenges, “home buyers should find the coming months to be more advantageous than any time in 2021. While sellers remain in a very strong position, price stabilization and the continuation of competitive interest rates may bring some welcome relief to buyers in the new year,” notes Nick Bailey, president of RE/MAX LLC. Home living tops investment U.S. real estate remains among the most attractive and largest asset classes for investors and families alike. “For the second year, homeowners have told us that their main reason for taking on projects around the home is to better meet their needs. Before the pandemic, return on investment was the primary motivation. This is a huge shift and something we know will continue throughout 2022, especially as people continue to spend more time at home,” says Robert Morgenstern, principal of New York City-based Canvas Property Group. Tech amps up Property management technology’s capabilities and use will continue to grow for reasons of convenience and social distancing. “With the right data collection tools and overall acceptance by industry professionals, real estate will greatly benefit from the increased use of technology in 2022,” according to Paul Ryll, owner of Oscar Mike Mobile Appraisers of Greenville, S.C. And with...
Problem Solvers
Senior Living Client Support
Where would the world be without problem solvers? Certainly not far. Problem solvers propel innovation and help us make the most of the resources available to us. At Yardi, four departments of work behind the scenes to help Senior Living clients anticipate, mitigate and troubleshoot dilemmas. They are among the problem solvers that help clients explore innovative solutions and deliver quality services to customers. Yardi solutions rise to face new challenges Evolving client needs require evolving technology. As developers issue new features, client-facing team members are ready to help with change management. Craig Christensen, team leader, Consulting Practices at Yardi says, “We work in a rapidly changing environment that has been heavily impacted by COVID-19. Our developers worked quickly to implement new solutions like vaccine administration tracking for our clients.” To navigate such new functionalities, clients can access tools like on-demand resources in Client Central or live training calls. Such tools are also helpful during the onboarding and continue education processes. Senior Living has a comparatively higher staffing turnover rate compared to multifamily. The ongoing pandemic has made it even more challenging. Yardi helps clients deal with the workforce shortage by streamlining routine processes. Stephanie Joralemon, product specialist, CSD, explains, “Clients found themselves consumed with ongoing trainings. We’ve resolved this issue with a Train the Trainer approach.” Through Aspire software, client trainers gain access to role-specific trainings 24/7. Live calls and trainings help fill any remaining gaps. Clients get the education that they need to quickly and accurately move forward with their work. Improved communication where it matters most Improving communication is another challenge overcome by Yardi specialists. In the past, medical profiles received updates via facsimiles and phone calls between the pharmacy and care provider. Yardi EHR and eMAR resolve the communication issue...
Selling the Metaverse
JLL Invests in Digital Real Estate
Yardi client Jones Lang LaSalle (JLL) is investing in the metaverse. The reality is as strange and beautiful as it sounds. You’ve heard of the metaverse, but what is it? In short, the metaverse is a virtual reality. It’s an entire virtual world where people engage in the same activities as we do in the “real” world. It’s like Second Life or The Sims in that it is a life simulation. But there are distinct differences between the metaverse and the games of the early 2000s: The metaverse is a more immersive experience. Rather than using a laptop, most participants engage via virtual reality (VR) devices that literally encase your skull.The metaverse is interoperable. Information is exchanged between different systems (like the integration between Yardi Voyager and the Elevate suite). Rather than having Second Life and The Sims as two distinct worlds, the characters could interact with each other in the metaverse.NFTs allow individuals and companies to “own” items in the metaverse. You can own everything from a unique masterpiece to real estate.You can make (and spend) real money in the metaverse. This is where things get very interesting for companies like JLL. The corporate world cashes in on the metaverse While the metaverse is still fringe territory, CIOs across various industries are exploring its potential. For organizations like JLL, the proof on concept stage is an exciting frontier. In an interview with The Wall Street Journal, commercial real estate services company JLL expressed interest in development within the metaverse. Edward Wagoner, CIO at JLL, said the company may use several different paths to invest in the metaverse. The long-term value of commercial real estate in the digital realm is undetermined. But as a first step, JLL plans on “buying specific virtual locations within high traffic areas to test various scenarios,” said Wagoner. Such test plots give the organization ideas of how marketing and services will work in the metaverse. While that approach is on par with a commercial real estate company, its second approach demonstrates how the metaverse can give mundane routines a fresh start. JLL may explore using the metaverse as part of its hybrid work model. Remote work via the metaverse will supplement in-office arrangements. JLL is not going into the metaverse alone. While technology plays a significant role in scalability at JLL, the company does not plan to develop metaverse tech on its own. JLL may invest in startups that help to “prototype and create these metaverse-related opportunities,” reports Wagoner. To boldly go where no one has gone before Virtual reality is not a world that we will ever (easily or feasibly) visit. But in any space where humans interact, there are opportunities for businesses to engage with consumers. The metaverse is a growing media channel with a growing participant base. That means uncharted territory where all content can take a fresh twist. Stay abreast of industry trends and insights on our News...