Chicago has reopened, and Apartmentalize powered by NAA will be there at McCormick Place from Aug. 31-Sept. 2 to bring forward-thinking multifamily operators from across the country and leading solution providers together. Yardi will return as a proud top tier partner, presenter and exhibitor. Read on for everything you need to know about this year’s event. See our innovative proptech Don’t miss the chance to connect with Yardi in person at Apartmentalize 2021. Come to booth #1001 to see our latest protech innovations. We’re excited to show you how our single connected solution will help you visualize performance, reduce expenses, automate interactions and enhance operations to increase your NOI. We will be featuring: REACH by RentCafe: Improve marketing ROI with advanced digital marketing services including SEO, PPC, social media, reputation management and performance analytics. RentCafe: Drive leases and improve retention for higher rental revenue with self-guided tours, a chatbot and smart home services. Yardi Elevate Suite: Combine deep operational data, market intelligence, revenue forecasting and prescriptive analytics to optimize asset performance and increase NOI. Introducing Yardi Breeze Premier: Our intuitive and powerful property management software is making its industry debut at the show. Boost performance with an easy-to-use, all-in-one marketing, management and accounting system. Reserve a private demo to see any or all of our proptech innovations that will take your business forward. Learn with us Yardi leaders will be participating in four educational sessions to share insights on hot industry topics and trends. Take advantage of these opportunities to deepen your industry knowledge and improve your operational strategies. Meet Gen Z: Understanding the Next Generation of Renters | Aug. 31, noon-12:45 p.m. Join Esther Bonardi, vice president at Yardi, as she leads a panel on Gen Z renter preferences with Garin Hamburger, senior director of national property marketing at Cushman & Wakefield, and Brooke Atsalis, marketing and training manager at The Management Group, LLC. Over 40,000 survey responses will help you get to know Gen Z through the data. Review shifting search trends, examine touring preferences and discover five tech must-haves. Learn how to adapt your property marketing strategy and shape your future success as we prepare to welcome a new generation home. Emerging Issues: Inflation and Its Effect on the Industry | Aug. 31, 1:15-2 p.m. NAA’s AVP of research, Paula Munger, joins industry experts, Jeff Adler of Yardi Matrix and Jay Parsons of RealPage, to discuss price trends, their impact on the economy and the industry, and what we can expect for the remainder of another very strange year. How will it affect the industry and how much sleep should you be losing over it? How Universities’ COVID-19 Decisions Impact the Student Housing Industry | Sept. 1, 3:45-4:30 p.m. Join Jeff Adler and Chris Nebenzahl of Yardi Matrix for a discussion on fall 2021 pre-leasing and how it compares to prior years. They’ll discuss rent growth in a post-COVID world, new development of purpose-built student housing, how universities have handled the pandemic from operational and housing perspectives and future plans for the industry. Myth Busting: Case Studies Debunking Affordable Housing Online Application Process | Sept. 1, 3:45-4:30 p.m. Geared towards affordable housing operators, Yardi vice president Christopher Voss joins Dawn Ford of Smart Apartment Solutions and Smart Moves, Phyllis Garcia of Ovation and Shay Dugan of TM Associates as they talk about the need for conducting business online and the perceived barriers considered unique to the affordable housing market. Pick up tools and possible solutions, such as low cost/no cost and easily accessible platforms that smash the myths that technology cannot exist in the application processes. See the complete Apartmentalize schedule for more information. Can’t make it this year? Not attending Apartmentalize 2021 but want to learn more about our solutions? Check out the Yardi Multifamily Suite, join a webinar or contact us with any...
Dominium Expansion
Minnesota Affordable Housing
Minnesota will soon have more affordable housing options. Plymouth-based developer an Yardi client Dominium selected a 5.2-acre parcel in Roseville for its newest affordable project. The market is ripe for new development, with recent average vacancy rates hovering around 2.2%. A local average rate of 5% is typical in a balanced market. The Harbor at Twin Lakes will be a senior affordable housing community. It will offer 277 units including 131 one-bedroom units, 116 two-bedroom and 30 three-bedroom units. The units are divided between five floors within a single building. Photo courtesy Dominium The rent-restricted neighborhood will accommodate residents aged 55 and over who earn 50% of the area median income or below. Exploring the neighborhood near The Harbor at Twin Lakes The Harbor at Twin Lakes will be a walkable community with access to shopping and dining. The community includes seven commercial properties, surface and underground parking. Just eight miles from Minneapolis and 10 miles from downtown Saint Paul, the community is conveniently located near several local attractions. The Harbor parcel, located at 2730 Herschel St., is part of the larger Twin Lakes Station redevelopment. It rests adjacent to Oasis at Twin Lakes, an affordable housing community with 228 units. The units are divided between two low-rise buildings. Construction on the $74 million Oasis project began in July 2020. It is scheduled for completion in 2022. “Dominium is very excited to announce this new development as it will provide much-needed high-quality affordable housing in the Twin Cities metro,” said Dominium Vice President and Project Partner Ryan Lunderby. Financing The City of Roseville has provided a $35 million bond for the development of The Harbor. Tax-exempt financing, once offered by Greystone, is now managed by Freddie Mac. The property is also funded in part...
Visit Yardi
At Argentum 2021
For many of us, in person events bring a sense of enlightenment and inspiration. Plus, they provide a chance to connect with others. And with shutdowns across the span of COVID-19, events have gone virtual. Now, as more people get vaccinated and the world emerges from the pandemic’s challenges, many associations are welcoming attendees back in person. This holds true in the senior living industry. Professionals are once again tasked with choosing which events to attend, aiming for those that are educational and prioritizing attendees’ health and safety. We’re pleased to offer an event that meets said criteria: The Argentum Senior Living Executive Conference & Expo, set to take place September 13-15 in Phoenix, Arizona. Argentum 2021: Better Senior Living Together This year, Argentum invites you to partake in the ultimate networking opportunity. With over 2,500 attendees from 750 different companies, you’ll have the chance to connect with transformative executives, gain fresh perspectives and discuss solutions for today’s senior living challenges. By joining like-minded leaders across the industry, you’ll take home ideas to enhance your own operations — and enrich the lives of your residents. And the health and safety of all attendees is a priority for Argentum. According to the association’s website, “Argentum has committed to instituting a variety of measures aimed at protecting your health and safety. Specific event details around the measures below will be updated on a regular basis and communicated to all attendees, exhibitors, vendors, and speakers.” You can read more about their health and safety commitments here. Ready to network, learn and explore? Yardi is sponsoring the registration and we invite you to come meet our team, learn about our pioneering software solutions and attend our speaking session on business intelligence. Attend our session: Driving Performance with...
Suburban Demand
Prompts Lending Boom
Investors have set their sights on suburban and tertiary markets. Lenders are responding favorably to the trend. While banks will continue to keep one foot planted in major metros, many are following their trusted relationships to less familiar terrain outside of city limits. Sleepy secondary markets are waking up The shift began as a trend prompted by the pandemic but has continued at a steady clip through the highs and lows of COVID-19. This is particularly true in cities where major employers have transitioned to remote and hybrid models. Many white collar industries such as technology, consulting and legal have adapted more flexible work conditions. With zero or fewer days required for office attendance, employees have been exploring their housing options. Blake Hering, principal with Gantry Inc explains, “As these remote operating models adopted by many office users have taken root and grown following last year’s social distancing mandates, a generational shift valuing the lower cost of living, higher quality of life, and larger footprint domiciles available in secondary markets has clearly fueled the beginning of a new, robust cycle for regional markets outside the MSA domain.” Employees are venturing further from their workplace hubs to secondary and tertiary markets where their money likely goes farther: lesser-known markets may offer more square footage for their money and more outdoor space, housing trends that were revitalized during the pandemic. Lending follows the leader The migration is particularly evident in MSA markets such as Seattle, Wash., and Portland, Ore. in the Pacific Northwest. Investors are following demand to smaller markets such as Bend, Salem and Tacoma. “This shift is now rewarding experienced sponsors in what have become prioritized markets by offering access to a host of new lending sources that once only reserved their allocations for operators...
Digital Habits
Insights For Senior Living Providers
A majority of online seniors — seniors segmented by their tech adoption and utilization — spend at least six hours a day online and own an average of five digital devices. That’s according to data collected by Google and research firm Known, who partnered to analyze seniors’ digital habits in 2020. Digging deep into their online behaviors, the research shows that a majority of online seniors are digital enthusiasts. What does that mean for senior living providers? For one, it sheds light on the need for digital marketing strategies to attract new residents. With a large group of seniors active online — for six hours a day, in fact — providers have an opportunity to showcase their communities in the digital world. But not any digital marketing tools will attract prospects. Providers need leading-edge services with a wide reach, equipped with tools like SEO and pay-per-click advertising (PPC), to stand out from the crowd. Looking at the findings from the Google and Known research below, senior living leaders may see why investing in effective digital marketing services is crucial. Digital habits of today’s seniors Most of us recognize that younger generations are active online. And while it may be less obvious to some, seniors are too. Pulling a statistic from the Pew Research Center, Google and Known explain that “80% of Americans 55 and over are online, and today’s 65-year-olds have spent much of their adult lives experiencing advances in technology firsthand: They were only 36 when the first internet browser was introduced in 1992 and 42 when Google was founded in 1998.” Analyzing the digital habits of both boomers and seniors, their research sought to understand how — and why — these age groups navigate the online world. Here’s what they found...
Senior Living Ebook
McKnight’s Power Panel
As pandemic restrictions loosen, senior living providers face new challenges. They need the right tools to streamline workflows, empower staff and provide quality care — while still prioritizing safety. Luckily, a recent online roundtable gathered experts to guide providers through it all. Sponsored by Yardi, the McKnight’s Senior Living Executive Power Panel assembled Yardi Director of Healthcare Solutions Fil Southerland, along with two other industry executives, to discuss tactics for navigating the current landscape. But in case you missed it, their discussions are highlighted in a brand new ebook — available for you to explore. Today’s industry experts offer fresh insights Given the ongoing pressures of the pandemic, McKnight’s recognized the need for expert insight in senior living. Their online roundtable covered a range of topics — with discussions centered on the latest industry obstacles. How can providers approach today’s challenges? How can they prepare for the future of senior living? Each executive aimed to answer these questions and bring something insightful to the table. The ebook captures their expert opinions, pieces of advice and more. At a glance, you’ll learn: How to improve staffing levels & retentionThe importance of digital workflowsToday’s best infection control practicesAnd more! About panelist Fil Southerland 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 healthcare 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 and LTPAC policy and interoperability initiatives, Fil is passionate about using technology to improve outcomes for residents and care providers. Explore the ebook to start...
Materials Volatility
Churns Construction Industry
Why have housing prices risen so dramatically lately? The answer begins with a huge uptick in demand driven by rising housing starts – seasonally adjusted single family housing starts in December 2020 hit their highest level since 2006 – along with low mortgage interest rates. An equally crucial factor is the rising cost of materials used to build and renovate homes. Structural steel, copper wire and other metal items – prices for all these products have risen substantially because of new housing, locked-down homeowners with time and money to spare for renovations, shut-down factories and lumber mills and tariffs. A sharp upturn in copper prices is “adding tens of thousands of dollars to a half-a-million-dollar” commercial project, according to Ben Goldberg of Petaluma, Calif.-based Simply Solar California. Perhaps the most volatile element is the market for lumber, used for framing, roofs, decks and fencing. In June, lumber costs were up 340% from 2020 levels before dropping dramatically a few weeks later, as sawmills ramped up production and imports increased. By early July, although still well above pre-pandemic levels, prices per board feet of lumber had dropped to 49% of its all-time high on May 28. Prices for other wood products were up 500% from pre-pandemic levels by mid-July, while the cost of steel mill products, up by about 70% in the first few months of 2021, remains high. The National Assn. of Home Builders, an industry advocacy group, estimated in May that the lumber price spike added nearly $12,000 to the market value of an average newly built multifamily home. Some wood products executives see the recent demand surge as a return to normal rather than abnormally high. Housing starts averaged 1.5 million units per year from 1960 through 2010 but lagged far below...
Changemakers Series
Ben Burke, Anthology
As an expert who’s redefining the future of senior living, it’s no surprise that Ben Burke has earned a place in this year’s Changemaker class. Recognized by Senior Housing News (SHN) in a special interview series — proudly sponsored by Yardi — Ben embodies what it means to be a senior living leader. About Ben Burke Yardi client Ben Burke is the president of Anthology Senior Living, a platform that develops, acquires and operates communities as an affiliate of CA Ventures. With extensive experience in the industry, Ben has brought unique, strong ideas to Anthology — including the initiative to create high quality communities at an attainable price point. Under Ben’s leadership, Anthology is leveraging smart and economical design, technology and operational flexibility to stay ahead of the curve. Through the Changemakers series, Ben shares the fresh ideas he’s put into action at Anthology. He delves into the advantages of being vertically integrated, the importance of putting residents first and more. Here’s a highlight from the SHN interview: Can you speak to the ability to develop better products by being vertically integrated? The advantages from the new development side are endless. The heads of our development team, investment team and acquisition team sit at a table every single Monday with the heads of our operations and asset management teams. We talk about every single deal in detail. Then, once a month, we have what we call a “Super Thursday Meeting,” and we go through everything that links operations and development. Whether that’s design, construction timelines, or some of the areas like sales trailers and pre-opening and signage, we talk in detail about all these topics. FF&E [furniture, fixtures and equipment] is a huge area. The business is so nuanced from both an operational...
New Semester, New Trends...
Student Housing Fall 2021
Multi-Housing News interviewed Yardi client DTN Management Co. chief operating officer Colin Cronin. Together, they explored trends in student housing and how operators are preparing for the new semester. Snapshot of the Lansing market Cronin reports that the student housing sector in East Lansing remains strong. Enrollment at Michigan State University has increased year-over-year thanks to its appeal with U.S. and international students seeking education at a research-based Big 10 university. “There is uncertainty as to how the supply and demand for student housing will be affected in the near term,” says Cronin. He continues, “We experienced a surge of new renters at the end of the leasing season, when the university closed the dorms for fall 2020. Overall, 2020 turned out to be a great year for off-campus housing at Michigan State University.” DTN meets the changing needs of its clients Pandemic protocols encouraged DTN site staff to implement multiple ways of interacting amongst themselves, with residents and prospects. Cronin explains, “All our leasing, maintenance and resident services were configured to work with each individual customer in a manner in which they were comfortable working with our staff throughout the ever-changing pandemic.” To meet the needs of prospects, DTN adapted virtual tours. This option offered many advantages. During quarantine, prospects could still access video tours even when the offices were closed. When staff returned to the offices with limited capacity for guests, virtual tours provided a live experience for prospects from the comfort and convenience of their homes. Cronin says, “We also leveraged our web presence by enhancing our online experience to better serve remote users. On top of these changes, we focused on both paid search and social media to gain additional market share online.” Paid search options include pay-per-click ads with flexible budgets and...
Client Spotlight
Harmony at Greensboro
We love sharing positive stories from senior living communities, especially those that involve residents working together to make a difference. That’s certainly the case with Yardi client Harmony Senior Services, whose residents at their Greensboro, North Carolina community have been aiding the local homeless population. Residents come together With a dedication to help those in need, residents at Harmony at Greensboro have been working to aid the local homeless population for the last six months. It was resident Peggy Yow who came up with the idea — creating sleeping mats from plastic grocery bags — and her fellow neighbors joined in to help. “I thought of all the cold nights, the wet ground, that maybe this will help them at least sleep and rest a little better,” said Yow to WFMY-TV. The inspiring story was also recognized by Argentum Senior Living, who shared it in their e-newsletter. If that alone doesn’t show how caring these senior living residents are, just wait! Each sleeping mat required over 2,000 grocery bags to be completed. It was no easy undertaking, but the Greensboro residents saw the value in the project — helping those in need. Their goal was to make 12 mats in total. Yow shared that the project “has brought us much closer, we know each other better. It’s been very enlightening for each of us.” About Harmony Senior Services Harmony Senior Services was founded on the belief that people deserve higher quality senior living options. They proudly provide the same excellent care and love to residents and their families as they would their own. Their goal is to meet each resident’s individual needs while exceeding expectations. Harmony offers living options such as independent living, assisted living and memory care. And for Harmony at Greensboro,...
Control Costs
With Strategic Energy Management
The residential real estate sector is going to see a few changes in the near future as businesses continue to open up their office environments, travel and immigration resume to pre-pandemic levels and Canadians gain a sense of confidence in venturing out of their homes on a more regular basis. Though human interactions will see a subtle shift from the pre-pandemic era, how residents use their living spaces will continue to evolve. This is an opportunity for real estate companies to re-evaluate the ways in which they manage their properties. Regardless of their approach to marketing, resident relations and other operations – the value of a viable energy strategy is gaining importance in the Canadian real estate sector. Residential property owners can increase asset values, boost stakeholder satisfaction and ensure compliance by adopting smart energy consumption practices. That’s best done strategically, especially as costs remain under heavy scrutiny and ESG accountability assumes ever-greater importance. First step: Utilize utility data to minimize costs Understanding and documenting energy consumption across a portfolio should be the first step in building a value-add energy strategy. Why? Because this operational area is one of a property’s largest controllable operating expenses. Understanding and harnessing utility data can make a property more valuable, more likely to retain residents, more easily marketed for sale, more compliant and more attractive to prospective tenants and investors and less likely to require concessions to rent. Advanced automated utility expense management systems also reduce duplicate payments, late fees, system interface errors and inaccurate spend measurements. They replace the cumbersome process of tracking consumption in excel, and wading through stacks of paper utility bills with digital invoice transmission and automated usage validation. Along with creating a single solution for invoice tracking, payments, budgeting and reporting, these systems...
Forbes Cloud 100
Yardi makes list again
Yardi has been named for the sixth time to the Forbes Cloud 100, the definitive list of the top 100 private cloud companies in the world. Yardi was a member of the inaugural Cloud 100 in 2016, landed at No. 34 for 2020, and is No. 50 this year. “We’re honored that Forbes has recognized Yardi once more for our industry-leading cloud solutions,” said Jay Shobe, senior vice president of cloud services at Yardi. “To consistently rank among these prestigious companies reflects the efforts of our employees and the tremendous support of our clients worldwide.” The evaluation process involved four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), people and culture (15%). The Forbes Cloud 100 judge panel, which includes 34 major public cloud company CEOs, was responsible for selecting and ranking the top 100 companies globally. “The companies of the Cloud 100 list represent the best and brightest emerging companies in the cloud sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list — meaning even more elite company for those who do. Congratulations to each of the 2021 Cloud 100 honorees and to our 20 Rising Stars up-and-comers poised to join their ranks.” “The private cloud ecosystem continues to see historic rates of digital transformation,” said Byron Deeter, partner at Bessemer Venture Partners. “Private cloud valuations are getting bigger as the market’s appetite for cloud continues to grow. These founders represent the absolute best in cloud computing today, and they appear likely to follow in the footsteps of our esteemed Cloud 100 alumni. Congratulations to these cloud leaders!” The Forbes 2021 Cloud 100 is published online at forbes.com/cloud100 and will appear in the September 2021 issue of Forbes magazine. About Bessemer Venture...
Edward Rose & Sons...
Celebrates 100 Years
Yardi is excited to help Edward Rose & Sons celebrate its 100th anniversary. The real estate development and management company has leveraged tradition, innovation and technology to reach new heights while honoring long-held values. History in the making Edward Rose & Sons began as a single family home builder with four properties constructed in 1921. By the 1960s, the organization expanded to multifamily housing. As self-proclaimed “frontier developers,” the company selected sites in minimally developed suburban areas. The properties address the needs of the growing working class. With this innovative strategy, Edward Rose & Sons helped to nurture a new era of successful young adults and thriving new towns. Since then, Edward Rose & Sons has established its name in luxury apartments and senior living. With each new vertical, the organization relies on its founding principles to guide the way. “We want to make sure that the residents get a good value for their money. That’s why we’ve been successful over the years,” says Greg Stowers, division manager at Edward Rose & Sons. The Michigan-based organization celebrates its centennial with a presence in 18 states. Properties represent 65,000 multifamily units with nine under construction in Washington, Michigan, Wisconsin, South Carolina and Illinois. The new properties will add 1,000 units to the Edward Rose & Sons portfolio next year. Old meets new: technology ushers Edward Rose & Sons into the future Technology is an integral part of the smart growth strategy for Edward Rose & Sons. The developer implements Yardi Job Cost, Asset IQ, and Revenue IQ for efficient project management and optimal rent performance at its properties. The company that began through word-of-mouth referrals still values its reputation. To manage its online reputation, Edward Rose & Sons relies on Yardi RENTCafé CRM for its...
Changemakers Series
Recognizes Adam Kaplan
In a one-of-a-kind series sponsored by Yardi, Senior Housing News (SHN) is recognizing pioneers driving the future of senior living. Deemed 2021 Changemakers, these leaders have taken unique steps to transform their organizations — tackling unforeseen challenges along the way. Say hello to Adam Kaplan Adam Kaplan is an accomplished Yardi client and the founder and CEO of Solera Senior Living. Selected as a member of this year’s Changemakers class, Adam has shown that taking an innovative approach to senior living is key to evoking positive change. Since founding Solera in 2016, he’s pursed a focused strategy to take on complex projects — helping Solera grow into an organization with a hospitality-driven culture, empowered teams and a commitment to resident care. With insights captured in his Changemaker interview, Adam shares where Solera is headed next, how he’s driven change and what he’s learned during his years in senior living. Here’s a highlight: As you think back on your career in senior living, what changes have you driven that you’re especially proud of? Many of the changemakers [in this series] are the pioneers who paved the way for people like myself. I don’t see myself as a changemaker, I see myself as somebody who has been fortunate enough to build on a foundation that was put in place by the incredible senior living entrepreneurs who came before me. That said, the industry today is still led by many of those pioneers. While we’ve attracted a lot of talent to the industry, I think we’ve done a pretty poor job of attracting talent into operations as the industry matures. Many entrepreneurs have come into the industry through startups in technology, services and media, but the same cannot be said for operating companies. When I left Senior...
Arizona Affordable Housing...
New LIHTC Supplement
In Arizona, there are only 26 affordable and available rentals for every 100 extremely low-income renter households, reports the National Low Income Housing Coalition (NLIHC). State leaders have approved a state housing tax credit to offset the affordable housing shortage. New and expanded programs for affordable housing in Arizona The program provides $4 million per year in state credits until 2025. It is supported by the 4% federal low-income housing tax credit (LIHTC) program. Combined, builders can seek relief up to 50% of the project cost. Analysts suggest the credits will prompt about $160 million in investments during that period. “That will make a significant dent in our housing shortage in Arizona,” says Tom Simplot, director of the Arizona Department of Housing (ADOH) in an interview with Affordable Housing Finance. Additionally, the ADOH will offer more programs that work in tandem with the 4% LIHTC. These programs result in $21 million in state and national housing trust funds. “What we learned from our research of other state programs is that it’s very impactful and powerful to couple the state credit with the 4% credit,” says Ruby Dhillon-Williams, assistant deputy director of housing and community development. To further stimulate growth, ADOH is revamping its qualified allocation plan (QAP). The current plan includes one cycle of 9% credits and 4% credits less consistently. The new programs are slated for release in QAP 2022. The national affordable housing crisis Per the NLIHC, there are fewer than four affordable rental homes for every 10 extremely low-income renter households nationwide. Not a single state has an adequate supply of rental housing to meet the needs of the poorest renters. As a result, “70% of extremely low-income renter households are severely housing cost-burdened, spending more than half of their limited...
Brightview Accolade
Fortune Best NY Workplaces
Yardi is pleased to applaud client Brightview Senior Living — a Baltimore-based company that’s delivered over 20 years of senior living services — for earning a spot on the Fortune Best Workplaces in New York™ 2021 list. The impressive accolade comes after Brightview ranked on the Fortune 100 Best Companies to Work For® list earlier this year. Brightview’s company culture gains recognition In addition to operating vibrant senior living communities and delivering excellent care, Brightview has created an exceptional culture for their employees. They’ve developed a workplace where associates feel empowered and cared for — and their hard work hasn’t gone unnoticed. Earning the Fortune Best Workplaces in New York™ recognition is something to be proud of. The accolade is largely based on direct feedback from employees, whose survey results are benchmarked against other organizations. Placement on the Fortune list means Brightview’s New York associates have spoken volumes about the company’s enriching environment. Brightview owns and operates three communities in the state including Brightview Lake Tappan, Brightview Sayville and Brightview Tarrytown. “We are THRILLED to announce that Brightview has ranked on the Fortune Best Workplaces in New York™ 2021 list for its exceptional company culture,” wrote Brightview on LinkedIn. They also announced the news on their company blog, where President Doug Dollenberg celebrated the recognition. “We know that if we’re a great place to work, in turn, our communities will be a great place to live,” shared Dollenberg. “For Brightview associates to have provided such extraordinary feedback during the challenge of a pandemic is truly humbling.” Some survey feedback from Brightview associates included: 94% believe “You are made to feel welcome when you join the company”93% believe “I feel good about the ways we contribute to the community”92% believe “My work has...
Future of Elder Care
Senior Living in Canada
COVID-19 has changed the way we look at senior living. It’s forced us to question the structures and policies currently in place — the systems designed to care for our aging population. How and where do seniors prefer to age? Are the current systems reflective of their preferences? How did COVID-19 shed light on the values underpinning these systems? These questions were covered in a recent webinar: The Future of Elder Care in Canada. Presented by The Empire Club of Canada, the webinar gathered experts including: Panelist Linda Knight, CEO at CarePartnersPanelist Dr. Samir K. Sinha, Director of Geriatrics at Sinai Health System and University Health NetworkModerator André Picard, Health Columnist at Globe and Mail With important questions posed by André, Linda and Samir’s insightful conversation revealed how Canada’s healthcare system needs redesigning. From exposing society’s view on elder care, to discussing the effects of COVID-19 to explaining the overwhelming need for home care support — they shared eye-opening information. Let’s take a look. COVID-19 reveals need for home care options Starting the panel with information on COVID-19’s effect on Canada’s seniors, the discussion turned to Linda, who explained the flaws in the country’s healthcare system. Mainly, how the shortage of public support workers (PSWs) and nurses working in home care has increased in recent years, with that trend being further amplified by COVID-19. “The PSW shortage hit us about four or five years ago, but what also has come shortly behind that is the nursing shortage in home care. We’ve lost pace with being able to pay them what they could make in a hospital — so there’s been unintended consequences,” explained Linda. She continued by noting that when COVID-19 first hit, a large portion of home care nurses made the switch...
Changemakers Series
Honors Fee Stubblefield
This year, Senior Housing News (SHN) has honored a variety of senior living leaders through their Changemakers series. And without fail, each member of the Changemakers class is inspirational, unwavering and transformative in their approach to industry obstacles. That certainly describes Yardi client Fee Stubblefield, founder and CEO of The Springs Living. Headquartered in McMinnville, Oregon, The Springs Living owns and operates multiple senior living communities across Oregon and Montana. Fee started the company in 1996 with a mission to create communities that felt like home and since then, he’s elected positive change in the company’s design and operations. That’s exactly why he was chosen as a 2021 Changemaker and interviewed in this special series, sponsored by Yardi. In this excerpt from his SHN interview, you’ll learn how Fee has led The Springs Living through a period of change — and how he’s preparing for the future. Plus, you’ll get an inside look at Fee’s approach to innovation, his dedication to senior living and his tolerance for risk. Do you agree that change-makers are risk-takers, and secondly, how do you describe your own personal tolerance for risk? I would say that we’re probably categorized as both innovators and risk-takers, but I don’t see it that way. I don’t see it as risky. This is what we’ve learned. This is what we believe the market wants and we have hedged it in ways that we think makes sense — that eliminates risk. It’s been really fascinating to see how different people look at the mountain from a different side. When you go on a hike, you look up the hill and you think, okay, I’ll remember that spot when I get there, and then when you get up there, it looks completely different. Our view...
Seniors’ Housing Survey
Vacancies & Rent in Canada
The results are in! Conducted in April and May of 2021, the Seniors’ Housing Survey collected information on rent prices, vacancy rates and more in seven regions across Canada. Ready to be explored, the survey revealed eye-opening findings on the Canadian seniors’ housing market. Let’s take a look: The findings: Higher vacancies and rent prices Starting with vacancies, the survey showed that vacancy rates in seniors’ residences are on the rise in provinces throughout Canada, with the exception of two. Interestingly, the vacancy rate for standard spaces grew 7%, meaning it now stands at 15.6%. And although an increase in supply was found, the number of residents has actually decreased, or only moderately increased. In turn, higher vacancy rates have become the new normal. The survey suggests that the weak demand could be a result of reluctancy to move into senior living communities during COVID-19. The seven Canadian regions assessed included: British ColumbiaAlbertaSaskatchewanManitobaOntarioQuebecAtlantic Canada Quebec showed the highest capture rate in the country, despite the decrease in resident retention. Here 17% of seniors aged 75 and older lived in seniors’ housing, whereas in other Canadian provinces, this proportion ranged from 5-10%. And in terms of regional average rents, five out of seven provinces saw in increase in price. The two exceptions, in which rent prices lowered, were Prince Edward Island and Newfoundland & Labrador. A guide for senior living providers As vacancy rates and rent prices rise in Canada, senior living providers need effective tools to attract new residents, streamline operations, enhance resident care and more. The Yardi Senior Living Suite contains everything providers need to create a foundation for success — with tools united on a single platform. Here are three ways the Yardi Senior Living Suite can benefit you: Reach more seniors who are searching for a place to live with advanced search marketing services. RentCafe Reach helps with SEO, pay-per-click advertising, reputation management and moreReduce manual data entry, meet compliance obligations and optimize resident care with Long Term Care, a comprehensive platform designed for Canadian providersNurture your leads and boost occupancy with RENTCafé Senior CRM, a mobile-friendly customer relationship management tool Read the entire 2021 Seniors’ Housing Survey to explore more findings. To learn how Yardi supports senior living in Canada, start...
Single Connected Success...
Anthology Senior Living
To effectively serve their communities while navigating a growing portfolio, senior living organizations need support. For many, implementing integrated senior living management software is key. Meet Anthology Senior Living, CA Venture’s senior living platform that develops, acquires and operates 34 senior housing communities across the United States. Their portfolio includes independent living, assisted living and memory care with uniquely designed communities that provide residents with meaningful hospitality and care. Kim Smart As they grew and expanded their community footprint, Anthology needed the right software solution — a single connected system built for the unique needs of senior living providers. They welcomed the Yardi Senior Living Suite. To dive deeper into the importance of utilizing a single connected solution, we sat down with Kim Smart, director of systems and support at Anthology. Smart discussed the organization’s journey to now operating 34 communities, explaining the role the Yardi Senior Living Suite has played in driving Anthology’s success. Here’s a highlight: The Challenge: Navigating a Growing Portfolio With a range of communities to serve and rapid expansions underway, Anthology Senior Living needed a solution that did it all. They searched for senior living software that combined resident care, marketing, sales, finance and more on a single platform. To fulfill the needs of their many communities, Anthology chose a single connected solution they knew they could trust — The Yardi Senior Living Suite. The Solution: Yardi Senior Living Suite The Yardi Senior Living Suite is powered by a secure cloud-hosted database and unites property management, finance, marketing, resident care and more on a single connected solution. The Story: Single Connected Success, Efficiencies Gained & Unparalleled Support With extensive experience in systems analysis, Director of Systems and Support Kim Smart knew the value of interconnected tools. Whether it be...