The “Upgrade Like a Rock Star” series continues, offering insights for a smooth transition to Yardi Voyager® 7S, our latest property management platform. For the second installment, Kimberly Chambers, Senior Vice President, Accounting and Tax Services, at Buzz Oates real estate firm shares how she led her team through a two-month conversion from Voyager 6 to 7S. Getting Started The conversion of Buzz Oates models how a small team can make big strides towards efficiency in a short timeframe. At Buzz Oates, there are just 45 staff members using Yardi Voyager to manage 22 million square feet of real estate. “We run lean and mean,” laughs Chambers. “Since we expected our users to handle their regular workload and test, it was, ‘Okay, well, we’re going to test what we can and then we’re going to go for it.’ And we did. And the conversion wasn’t a very long timeframe.” The resourceful team prepared for the transition by watching training videos and tutorials on Yardi Client Central. Through the online portal, Yardi customizes virtual training tools to expedite user education for each client. Buzz Oates then invited Yardi specialists to offer onsite training for the group. The specialists covered new features in Voyager 7S and addressed questions that arose during the virtual training. Chambers says, “When a user had issues, the Yardi representatives were able to go around and help us get them up to speed right away. The users didn’t have to wait for our one IT person or myself to run around. We had a few more hands on deck that could answer their questions.” Testing and Challenges While a small staff size made training more manageable, it posed unique challenges during the testing phase. Without a designated IT team for the task,...

Editor’s note: the following article originally appeared in the British real estate publication Property Week on Nov. 25. Martin Betts is Yardi’s Sales Director for UK and Ireland. Are some shopping centre landlords guilty of thinking their asset is simply a property? They get the tenants in, the leases agreed and the rents start rolling in. But thinking in this way can limit the potential of the asset. For unlike an office block or an industrial unit, the shopping centre presents many different avenues for turning revenue. The unique nature of the mall means there is huge potential for additional revenue generation- something landlords and shopping centre managers need to ensure are managed and promoted effectively. Spaces like the walls are potential advertising spots, mobile phone masts can be erected on top of the buildings, pop-up stands can be used to utilise what would otherwise be dead space within the mall and even car washing facilities in the car park – all of this generates rent for the landlord and maximises space.  Some of the best shopping centre operators have been doing this for years, but there are still way too many that aren’t or are not capturing the data that highlights where these opportunities exist. The UK market is moving more and more to a turnover rental structure, so an even greater prevalence is put on the landlord to drive footfall and entice people to the centre. But this is not easy in such a competitive retail and shopping centre sector, where you may have three shopping centres in close proximity to one another, all vying for the same customers. People will generally choose on the calibre of the shops and the experience they receive. So how do successful landlords and managers attract...

The “Upgrade Like a Rock Star” series highlights insider tips and tricks for a smooth transition to Voyager 7S, Yardi’s newest and most robust property management platform. For this installment, Yardi caught up with Will Newton, Director of Support Systems at Avesta Homes. His team converted from Voyager 6 to 7S more than two years ago. The transition took about four months. Getting Started Newton and his team began by promoting employee buy-in. Newton and a Yardi consultant visited each of Avesta’s four regions to drum up curiosity and excitement about the new software. “We basically did a little tour around each of the regions and got everybody pumped up about it,” begins Newton. “So, just kind of a quick, ‘here’s all the new functionality that you’re going to see. It’s much prettier and easier. You’re going to like it!’ That kind of got everyone excited about using it.” Testing and Implementation To make testing fun, Avesta turned the process into a competition. “We’re a pretty competitive company,” laughs Newton. “I had a little scoreboard thing going. I’d run queries on how many lines of code you did, how many update statements occurred, and other stuff that was more tangible for people.” These competitions helped the staff systematically sift through each of Avesta’s custom menus. Staff confirmed that pages and links functioned properly, and that pages appeared identical on various browsers. To avoid burn out and maintain regular workloads, staff limited tests to one hour per day. Avesta then hosted six on-site trainings, one for each region and two at the central office. During each occurrence, the offices shut down for a few hours so that all of the staff could be present. Regional subject matter experts, or SMEs, demonstrated specific, commonly used functionalities...

Patrick Hennessey, Vice President and General Manager at Yardi, joined the team in 2010 as an expert in screening software. He found Yardi’s small company feel and large company resources appealing.  “We have a great team of people, cutting edge technology, and the efficiencies that a company the size of Yardi are able to attain with support teams on both coasts and flexible hours for our clients,” says Hennessey. Hennessey leads the Yardi Resident Screening team in honing and refining online screening software for multifamily clients. The team introduced the product to Canadian markets earlier this year. Benefits of Yardi Resident Screening Hennessey’s focus, Yardi Resident Screening, helps leasing agents select and retain low-risk residents. The system facilitates: comprehensive reports reliable data automated recommendations insights into applicant traffic applicant and resident performance reporting improved efficiencies Hennessey explains, “We do a few key things to help our clients through Resident Screening. First, we help our clients make the best possible leasing decisions. We do that by helping them find more high quality applicants and fewer low quality applicants. Thus we help them maximize revenue by minimizing unwarranted financial risks.” He continues, “Additionally, we limit their legal exposure by using a neutral third party for their screening process. That ensure that the applicants’ rights are protected and that they are given a fair opportunity in the leasing process.” In addition to increased consistency in the selection process of their residents, property managers who adopt Yardi Resident Screening can expect cost savings as a result of improved efficiencies in the leasing office. Rather than requesting a credit report and scoring it by hand, users execute tasks online. Added Security The efficiency and convenience of online leasing has directly influenced the demand for resident screening tools. With Resident...

Since 1945, Hillside House has edified Santa Barbara’s residents living with disabilities. The organization continues its mission into a new era that will expand services and build a stronger sense of inclusion in the community. The organization began as a care center for 15 young adults with cerebral palsy. Over time, it acquired the resources to care for people living with a variety of developmental and intellectual disabilities. Today, Hillside House is a therapeutic learning community comprised of 59 residents. Residents receive meals, medical care, and 24-hour assistance in the care of 90 staff. Executive Director Craig Olson joined the team at Hillside House 12 years ago. The non-profit has become a second home. “I just have a love for our residents and I want to help,” says Olson. Olson’s passion for building community began with his interest in the art of wine making. “[Wine culture] has taught me a lot about hospitality and being upbeat about life. You have to have that vibrancy. Wine brings people together and creates a sense of community. I aim to replicate that sense of inclusion and community here.” The first lesson of inclusion, Olson learned, was to interact with people with disabilities in the same way that he would interact with anyone else. “One common misconception is that they’re different than anyone else,” chuckles Olson. “I remember the first time that I came to work and I was supposed to do an activity with the residents. It was a softball game. I said, ‘I don’t know how to do that.’ My coworker said, ‘Well…just go play softball. Just treat them like you would anybody else and it’s going to go fabulously.’” That brief exchange highlights the methodology of Hillside House in Santa Barbara:  the organization promotes inclusion...

Patricia Cooper found herself facing a two-fold void in the Santa Barbara community. A growing number of families were in desperate need of counseling, but they could not afford traditional services. Countless graduate students vied for scarce opportunities to fulfill their 3,000-hour residencies. Once the connection between the two dilemmas became evident, Cooper sprang into action. Filling both needs became easier than Cooper had expected. In 1984, Cooper and her partner, Jaclyn Henretig, opened the doors to Community Counseling and Education Center (CCEC). The nonprofit organization offers counseling and educational programs for low-income individuals in the community. CCEC doubles as a training ground for graduate students. The demand for low-cost counseling and hands-on training was so great that the organization thrived immediately. Cooper laughs, “We just kind of took off and didn’t look back. We trusted and everything just fell into place. If you look in retrospect, we had no idea what we were getting ourselves into in terms of how much time and effort it was going to take. But along the way, we had so much fun doing it.” CCEC assists a diverse range of clients by offering individual and couples counseling, group therapy, Spanish-language services, as well as programming for single parents and the LGBTQ community. Each program has flourished since the organization opened. Communication and coping mechanisms are two of the most popular topics in counseling sessions. “The most requested service among couples is to strengthen communication skills,” observes Cooper. “It’s also a lot of looking at past habits for handling stress that are not functional. We’re looking at alcohol and drug use, specifically.” During the Recession, the organization experienced an increase in clients. Those years highlighted the necessity of affordable counseling programs that can serve the community without clients’...

Crescent Properties recently revealed McKinney & Olive, a Class A office building in one of the most desirable zip codes in Dallas. Yardi sat down with Montie Rouze, Vice President of IT, at the Yardi Advanced Solutions Conference in May to learn more about the new project. “They call McKinney & Olive the ‘sexy building’ because it has a curved shape to it that makes people think of the shape of a woman,” smiles Rouze. The 530,000-square-foot building stands on a 3.1-acre site conveniently located Uptown. At 20 stories high, it will be the tallest building in the neighborhood. “There is high end retail on the bottom floors,” explains Rouze. “The site will have lots of common areas, piazza space, and a neighborhood area with a big park. They really want people in the neighborhood to enjoy it, not just the tenants in the building.” Tenants and their guests will have easy access to the neighborhood’s best amenities including fine dining, shopping, and luxury hotels. The attractions of Dallas Arts District and West Village are just a stone’s throw away. McKinney & Olive is situated with easy access to McKinney Avenue Trolley with service throughout Uptown and Downtown. During development, Crescent turned to Yardi Voyager  Construction Management with Job Cost. The software helped Crescent control costs via complete budget oversight, forecasting, and contract management. “The development process is what got us into Voyager,” begins Rouze. “We had been a [competitor] client, so it was a daunting change. But we had this development project, and we needed Job Cost to track the development. We knew that Yardi’s Job Cost was better than [the competitor’s].” “We bought Yardi just for this one building, and called it our proof of concept for the platform,” continues Rouze. “We...

Thanks to detailed accounting options and superior customer support, Sentio Healthcare Properties continues to expand its use of Yardi Voyager across its property portfolio. As a REIT specializing in senior living, Sentio Healthcare Properties oversees a diverse portfolio ranging from medical office buildings to senior housing, including independent living, assisted living and memory care facilities. At the company’s Orlando headquarters, about 20 employees work with third party operators at 34 properties located in 16 states. “REITS are not the easiest structure to understand,” admits Julia Avallone, Manager of Property Level Accounting and Asset Management (CPA) at Sentio Healthcare Properties. “I’ve been at Sentio nearly three years, and I’m still wrapping my brain around all the accounting complexities. That being said, I think it’s rare to find an accounting role where you feel that you are making a positive contribution to somebody’s  life. I feel that my role at Sentio is mission driven and contributes, albeit in a small way, to the quality of life the residents in our facilities enjoy.” Making the Switch to Senior Living Avallone began her career in public accounting mainly for real estate clients. Eventually, Avallone decided to transition into another industry, and one of her managers recommended Sentio. “My husband was also in public accounting, and it was too much to both work in the (same) industry,” explains Avallone. “I was looking for a change, and one of my managers knew the controller at Sentio. It was a good fit.” Avallone used to handle accounting for approximately half of Sentio’s portfolio, but is in the process of transitioning to an asset management role. Because Sentio’s properties are located in a variety of different markets, each community comes with its own advantages and challenges. For example, Texas recently moved to...

The first thing you notice on MC Companies website is that the Arizona-based multifamily housing provider is a very compassionate company. It’s one of the traits that make them one of Arizona’s “most admired companies.” The “Good Life Promises” that are part of the firm’s foundational values include a rent rescue program that excuses late fees and “life interruption relief,” a standardized accommodation for residents who might need a little help recovering after a job loss. ‘”Giving is very important to our company,” said Lesley Brice, principal and president of MC Companies, a Yardi client. Fellow principals Ken McElroy and Ross McCallister founded the Scottsdale, Ariz.-based company in 1985. McElroy, a real estate entrepreneur and author who is passionate about giving back to the community, first became involved in Autism activism 11 years ago, when the child of a friend was diagnosed with the disease. McElroy is now chair of Scottsdale’s annual Autism Speaks fundraising walk. The event is held nationally each fall. In Arizona alone, 20,000 people walked in 2015, and 25,000 are expected at this weekend’s event. “Ken quickly realized that based on the statistic of 1 in 68 children (1 in 44 boys) with Autism that there are tens of thousands of affected individuals living in our apartment communities in Arizona,” Brice said. And with that realization, the entire MC Companies team was galvanized to action. As Brice explains it, the need to mobilize quickly to fundraise for the 2015 walk produced two exceptional ideas that MC Companies used again for the 2016 campaign. Hours4Autism – “We developed a program that allows companies to raise donations through Paid Time Off donations.  In our first year with our 300 employees, we raised over $20,000 or 1100 hours last year and expect to...

One of Jim Merski’s favorite quotes, rooted in a 17th Century Italian proverb, is “Good is the enemy of great.” “Our goal is to be great,” says Merski, chief financial officer of Boston-based Barkan Management Company Inc., a Yardi client that manages 147 residential communities with more than 23,000 units, primarily condominiums, along with other residential and commercial properties. Merski has lived that philosophy in his 2 ½ years with Barkan by focusing on process improvement, reporting and consistent financial processes—aiming, he says, to “bring our company to a much higher level of customer service, with a focus on reaching excellence.” Merski understands that excellence in condo management requires accommodating the human element.  “Accounting is not numbers. Accounting is communication. We need to break down the results of operations to the lowest common denominator for our board members, many of whom are non-financial people. They are volunteers, so we want them to get their arms around what’s going on very quickly,” he says. Colorful Numbers Barkan has enlisted a number of Yardi solutions in that effort.  For example, Yardi-built modules translate financial information in the company’s Yardi Voyager® property management and accounting platform into color-coded graphics.  This includes current and historical accounts receivables, payables, budgets and operating funds, along with replacement reserve funds, total cash, and changes in cash over a 12-month period. “The objective is to help a non-financial user of the financials (board member, trustee, director) to understand what’s going on within minutes of looking at the charts and graphs, without having to dive into the numbers.  Anyone can see at a glance how the month went,” Merski says.  “Voyager gives our clients and site property managers a very nice sense of how their associations are doing on a cash basis.  Feedback...

October is Breast Cancer Awareness month. As a company, one of our core values is community service. Participating in nonprofit work and giving back is a shared part of the culture at Yardi. Many of our employees give back regularly through local and global charities, volunteerism, and raising awareness. Yardi is honored to support organizations doing work to further research, prevention and education efforts in the fight against cancer. American Cancer Society The American Cancer Society (ACS) has been working to raise public awareness about cancer for over 100 years. Founded in 1913, the ACS started as a small group of committed doctors and civilians with one mission: to fight back against the disease.  In the late 1930’s, the organization created a legion of volunteers to educate the public and fundraise. Later in 1946, the ACS expanded their programming to include cancer research, raising more than $4 million to fund the Society’s groundbreaking research and educational initiatives. The ACS has been involved in almost every major cancer research breakthrough in the last 70 years. This also includes the strategic fundraising of cancer-fighting medications, the passage of the National Cancer Act in 1971, as well as advocacy in legislation and preventative medicine. Their annual events, including Relay for Life and Making Strides, encourage community members to get involved, promotes awareness and early detection, and raises millions of dollars for cancer research and prevention education. Thanks in part to the American Cancer Society (ACS), there are nearly 14.5 million people in the United States who have survived cancer. Cancer Care for Hope CancerCare was founded in 1944 with the goal of providing free, professional support services and information to people managing the different challenges of cancer. In the past year, CancerCare has provided nearly $13 million...

The Wikimedia Foundation is a nonprofit that’s dedicated to empowering and engaging people around the world to share in free knowledge. The organization supports and hosts Wikipedia and its sister Wikimedia sites, with the vision of allowing everyone, everywhere to freely share in the sum of all knowledge. Three projects have helped expand the scale of available Wikimedia content worldwide. Raising support for these projects is Caitlin Virtue, who seamlessly stepped into her role as Director of Development at the Wikimedia Foundation nearly three years ago. In addition to her last name, the career path is basically in her veins. “I grew up in the not-for-profit world,” begins Virtue. “My dad worked at the YMCA and my mom at the Red Cross. Working with a nonprofit was a really natural step for me.” The singular vision of the Foundation resonated with Virtue: “Our mission, the vision, is that every human being should be able to share in the sum of all human knowledge. We want everyone everywhere, regardless of what language you speak, to have access to the sum of all human knowledge. That’s the direction that we’re going and every day we get closer to achieving it.” After a brief pause, she laughs, “We will never get there, of course. Knowledge is being created all of the time. But that’s the value. We want information to be accessible to everyone all around the planet.” To compile the sum of all human knowledge, the Wikimedia Foundation supports 11 projects including: Wikipedia: the free online encyclopedia Wiktionary: a free dictionary Wikiquote: a free collection of quotes Wikibooks: a free collection of books Wikisource: a free collection of primary source materials Wikimedia Commons: a free media repository Wikispecies: a science-based wiki on documenting all the species...

Princeton, N.J.-based property management firm The Gershen Group LLC opened in 1959 as a small family based firm.  It concentrated on planning and consulting before branching out to housing management in 1972.  Its principal focus today is affordable and senior housing, although the company’s commercial holdings have consistently increased over the years. Long after The Gershen Group moved past the mom-and pop-phase, a family-based orientation remains the core of its operating philosophy. Extended Family “We tend to keep employees a very long time, which is not the norm in today’s business world,” according to Jonathan Gershen, vice president and general counsel of the company his parents founded. “Only a few employees are actually family members, although they almost could be—one person has been with us 35 years, another for 25 years.  We think of our staff as family, and this mentality has served us very well.” This attitude extends to the company’s business partners.  “With our clients—whether they’re our fee-managed properties or our residents—the relationship goes beyond ‘Just pay your rent and that’s it.’  We know who they are, and they know the building manager who’s been there for 10 or 20 years.  We want to keep that connection,” adds Deborah Gershen, vice president and director of property management. She adds, “It would be very easy to manage everything that comes in the door.   We’ve given up projects, or not taken them on, when people say ‘the building’s broke, we don’t have to spend any more money.’  My answer is, ‘We’re not the right manager for you.’  We’ve been very selective that way, and that won’t change.” Technology as an Ally When it comes to adopting property management software, The Gershen Group makes another subtle yet firm distinction between personal and business considerations. “Our...

The semi-annual Yardi Advanced Solutions Conferences (YASC) take place on the West and East Coasts, providing clients with the opportunity to attend an event close to home. Each conference offers specialized courses on product features, networking opportunities, and one-on-one consultations with Yardi representatives. At YASC in Washington, D.C., Yardi sat down with Mariana Estrada, VP of Operations at Roscoe Properties. The company has had the opportunity to explore several products since joining the Yardi network in 2008. Estrada updated Yardi on her experiences with the software. Estrada began with Yardi Procure to Pay (P2P), a centralized platform that offers complete spend visibility, streamlined invoice processing, centralized MRO purchasing and vendor onboarding.  “The concept of P2P is exactly what we believe in – a paperless, time-saving option. We have a decentralized payables process so our onsite teams are responsible for processing payables and expense management at the site level. The time they used to spend filing and processing paper invoices is now time they can spend serving current residents and attracting new residents,” says Estrada. “And now with the Marketplace, we’re gaining even more time savings and streamlining our purchasing process even further. We just implemented one of our major vendors and Yardi was able to create an online catalog for us.” Yardi Marketplace furnishes access to more than 1 million MRO products and building materials. The program also delivers the best available discounts from nationally recognized suppliers. “The Marketplace has an Amazon-like interface everyone knows how to use,” Estrada explains, “so there are virtually no issues with training our maintenance and site teams. A few mouse clicks and the PO is created and the order placed. Since the users don’t need to re-populate line item details, they are able to move invoices through the processing...

You see the little Heart-Check mark anywhere there is food these days: a box of Cheerios in your pantry, a can of Campbell’s soup in the store, a Subway sandwich wrapper at the park. Today, 92 percent of consumers recognize the efforts of the American Heart Association brand. But that wasn’t always the case. Heart disease used to be a silent killer. The American Heart Association (AHA) has brought the importance of heart health to the foreground of wellness. The U.S. faces a sincere need for heart health education. One in every four deaths is the result of heart disease, according to a report by the Center for Disease Control. That makes heart disease the leading cause of death among men and women. Lisa Thomas, Senior Heart and Stroke Walk Director, hopes to change that. Through public education and fundraising, Thomas and her team work to reclaim lives from the clenches of heart disease. “Public education is a part of everything that we do,” says Thomas. “It’s so important to know your risk, know your numbers and see your doctor every year to stay up to date. Prevention is key. Prevention saves lives.” Eating a heart-healthy diet is a good place to start, hence the Heart-Check mark on certain foods at the grocery store. These foods meet the nutritional requirements set by AHA to promote heart health. Common characteristics are foods that are low in cholesterol and salt, and contain ingredients that favor the cardiovascular system. Consistent exercise is another key preventative measure. “Powerwalking is a good one. It’s so easy to just grab your shoes and walk, in the neighborhood, at the mall, the park—anywhere there is space,” says Thomas. That basic concept is the backbone of the association’s annual Heart Walk series...

For more than a decade, Dirk Völkel has channeled his passion for retail asset investment into his company, VÖLKEL COMPANY Group, which provides real estate management services in Germany.  Founded in 2004, the company today operates 170 properties valued at 1.3 billion euros and handles a high volume of transactions from offices across Germany. “Our business is family-driven and focused on maintaining long-term relationships with clients,” said Völkel, the company’s founder, main shareholder and managing director.  “We are a one-stop-contact in Germany, capable of providing the full spectrum of investment advice and services.  Some of our team members have been working in the field for up to 25 years, so we know the difference between real experience and merely good marketing.” Individual client service A special point of pride for Völkel is the degree of personal service his company delivers.  “For some large, long-established companies, any given client is one among many.  For us as a mid-size company, every client is important as an individual, and we take every client seriously. In an era that has seen the outsourcing of many services, our services are 100% “Made in Germany,” he said.  “We handle investments as if they were our own money. We are proud of the good references we have earned.  In fact, much of our new business comes from word of mouth among investors who are satisfied with our services.” While justly proud of his company’s achievements in offering engaged, flexible, quick and successful investment services, Völkel knows well enough that continued success depends on maintaining a keen focus on the future, rather than dwelling on a distinguished past.  “We constantly work to improve our high-quality services.  Not only that, we continuously measure our clients’ expectations of us.  As one extremely important example,...

Roman Baratiak got his start as a work study student at UCSB. He instantly fell in love and has been changing lives ever since. “I soon discovered what happened when the lights went down and the curtain opened and incredibly talented artists and performers took the stage,” says Baratiak. “They brought us to other worlds, introduced us to other cultures, and provided us with a beautifully aesthetic and fulfilling experiences. I fell in love with that.” Three years later, that love transformed from a work study position into a full-time career. Baratiak has now been with the organization for nearly 40 years and currently serves as Associate Director. He enjoys organizing the lecture and film program because it allows him to present the Santa Barbara community with people who are extremely interesting, informative, and unique. “I have very eclectic tastes so it’s the perfect job for me,” says Baratiak. “I can go to work and learn something every day and feel like I’m growing as a person. I know I’m in the right spot.” Though Baratiak loves to learn during the lectures, it’s the benefit for the community that elevates his enthusiasm about his work. He strongly supports education for people of all ages as a way to keep us connected with the global community and with our own humanity. “The arts will always be important. They teach us about the world that we live in. They also allow us to get in touch with our own humanity and creative side. As a spectator, we can see human potential on stage by seeing amazing musicians, dancers, and speakers. We grow to understand the amazing amount of talent that goes into these things. It’s also a bit like going to the spa or getting a...