2024 is a big year for Yardi, and it’s not just because we’re celebrating 40 years in business. This year marks an exciting shift in our innovation process, exemplified by the new AI solutions presented during YASC 2024’s opening spotlight session for multifamily. Here’s a recap of innovations and features unveiled during the event. Marketing with AI Ready to streamline content creation and optimize marketing spend? As Esther Bonardi, Yardi vice president of corporate marketing and REACH by RentCafe, put it, “AI is everywhere, and it’s impacting all of our development from the time renters start looking for their apartment, and all the way until they’re renewing their lease.” Here’s a peek at new AI-driven solutions to help you drive more quality prospects. Simplifying content creation with Creator by Virtuoso The new Creator by Virtuoso — included in Marketing IQ Genius — uses AI to generate and schedule content for property websites. Whether it’s page narratives, blog posts or Google Business Profile updates, content creation has never been easier. Marketers can now update websites and social feeds with minimal effort, ensuring they stay competitive in the digital landscape. Data-driven budgeting and strategy Marketing IQ Genius also includes more advanced SEO and PPC reporting, as well as PPC budget recommendations powered by machine learning. Get strategic suggestions that help you make informed decisions about your advertising spend.  Allocate budgets more effectively and drive better results based on real-time data and insights. Speed to lease: Accelerating the customer journey with AI “Days equal dollars when it comes to vacancy loss,” Paul Yount, industry principal, said to a crowd of multifamily professionals — but not before he somehow weaved a baby picture of himself onto a slide. (It all connected to his YASC session, “Back to the Future of Leasing and AI.”) Speed is everything when it comes to turning your prospect into a resident — and our AI initiatives are making that process even faster. Here are some updates that will help you reduce vacancy loss. More efficient leasing Chat IQ, powered by Yardi Virtuoso, provides instant, personalized responses to your customers that keep them engaged and informed throughout their leasing journey. Plus, our income and identity verification solutions streamline approvals, ensuring maximum speed when it comes to converting an inquiry into a lease. Self-serve maintenance Our new self-serve maintenance feature guides residents through minor fixes, reducing the hassle associated with maintenance and the workload on property managers. This not only enhances resident satisfaction but also frees up time for teams to focus on more strategic tasks. Yardi Energy Yardi Energy has exciting new updates in store to help you manage energy usage more efficiently, so you can reduce cost while aligning with environmental best practices. Enhancing the resident experience We’re also rolling out new innovations that will make your resident experience even better. Get ready for increased resident satisfaction and renewals. Rewards by RentCafe Resident retention is key to long-term success, and our new rewards program for residents is designed to do just that. Rewards by RentCafe incentivizes your residents to pay rent on time by rewarding them for on-time rent payments and subscriptions to Resident Services by ResidentShield. Points can be redeemed for fun things like travel and shopping, helping you enhance satisfaction. Resident Services by ResidentShield As just mentioned, we’ve rolled out a comprehensive suite of resident services that cater to every stage of the resident lifecycle. But the highlight is our move-in tracker, which simplifies the move-in process for residents by giving them one place to sign up and activate all the essentials, like Wi-Fi and electricity. This helps them feel at home from day one, and gives you bonus points for a seamless experience — without extra effort on your part. The roadmap A preview of enhancements you can take advantage of now, or soon! Chat IQ It just keeps getting better with Chat IQ. This...

The housing crisis isn’t going away overnight, but with the power of innovation and technology, people can get housed faster and smarter. That’s why public housing authorities (PHAs) are stepping up to the challenge. We had the privilege of sitting down with some visionary authorities to discuss their plans, and to say we were inspired is an understatement. These agencies understand they need to adapt to meet the changing needs of their community. Leaders in the industry are taking the leap towards implementing technology and transforming their operations — even if it means dipping their feet into an area they aren’t familiar with. By choosing innovation, they’re setting the bar high for public housing authorities — proving that with the right tools and mindset, we can overcome the most daunting challenges. Their commitment to change is paving the way for a brighter future where all families can find safe and affordable housing. “We’re striving to be innovative in our use of technology and development of affordable housing units. We must think outside the box. It’s critical for housing authorities to reinvent themselves and become community leaders. And Yardi has been critical in helping us take that leap,” says Carol Jones-Gilbert, CEO of Palm Beach Housing Authority. In this article, you’ll learn how agencies are using innovation to: Prioritize residents in their operations Navigate the challenges of the PHA world Plan and prepare for the future Putting residents first It’s no secret that there are many moving parts in getting applicants approved for public housing. From managing waitlists to ensuring compliance, the process can be daunting and time-consuming. But agencies are moving forward as technology evolves. Paper processes are a thing of the past, and innovation is the new gold standard. With trusted software, agencies are prioritizing the needs and happiness of their residents. After all, assuring residents receive the support they need is paramount to the goals of public housing agencies. We caught up with Weneshia Brand, deputy director of the Ann Arbor Housing Commission, and discussed her success with Yardi. She explained how they continually strive for excellence in all aspects of their operations and want to set the bar high for other agencies to follow. She championed the simplicity of handling all their business in one platform, including their maintenance, reporting and financial activity. “With Yardi, we can manage our maintenance requests, financial records and compliance reports all in one place,” she offered. These integrations have saved her team hours while also reducing the risk of errors and increasing overall efficiency. But what’s most important is that, with innovation on the rise, agencies can focus on what really matters: the residents. Staff members can now dedicate time to more hands-on tasks, such as maintenance requests, property inspections and personalized support programs. The innovation doesn’t stop here for the Ann Arbor Housing Commission. Brand disclosed her plans to implement Yardi Case Manager. Their interest stems from the desire to be part of the continuum of care. “The case management system will allow us to process our homeless individuals more quickly, ensuring they receive the support they need,” Brand explained. This progressive approach confirms their commitment to leveraging technology to better serve their community and get more people housed. Keeping up with the ever-changing PHA world Public housing agencies are doing incredible work to keep up with the evolving PHA space. They’re navigating a complex web of regulations, adapting to shifting policies and managing staff turnover — all while ensuring their residents are receiving the care they deserve. Let’s be honest, compliance with HUD regulations can cause headaches for many agencies. Navigating the complexities of changing policies at the federal level, staff turnover and compliance work requires dedication and hours of planning. Among these dedicated agencies is the Palm Beach Housing Authority, which has leaned on Yardi to stay compliant and expand the areas they serve. In fact, their...

Public housing authorities (PHAs) across the U.S. are facing a major challenge: many of their employees are getting close to retirement. It’s estimated that over 50 percent of PHA and other public sector employees could retire within the next five years. This means PHAs need to have a plan in place to fill these upcoming vacancies with qualified people. However, it’s not easy — 79 percent of agencies cannot find qualified candidates for open positions, according to a survey by NeoGov, an HR solution provider for the public sector. Succession planning is crucial for PHAs. It’s not just about finding someone to fill a job — it’s about keeping a skilled workforce that can serve their communities effectively. A good succession plan can also lead to better employee retention and engagement. In fact, organizations with strong plans have retention rates 50 percent higher than those without them. To tackle these challenges, PHAs must ensure their staff possess the right skills and knowledge to step into leadership roles when needed. The Yardi Aspire Learning Management System (LMS) is a powerful tool that can help. Aspire delivers effective industry education, skill development and promotion preparation — helping PHAs build a strong pipeline of talent and ensuring smooth leadership transitions. Why succession planning matters Succession planning involves looking ahead and being prepared. According to the HUD Instructional Guide, succession planning helps PHAs in several key ways: Ensures long-term success: Confirms that PHAs maintain smooth service delivery, even during leadership changes. Reduces risks: Identifies important roles and prepares internal candidates when key positions become vacant. Promotes staff growth: Promotes staff development and prepares them for leadership roles, ensuring the right skills are in place. How Aspire supports succession planning Aspire offers several tools that are vital for effective succession planning, such as: Extensive catalog: Offers hundreds of short, interactive courses designed to fit within a busy workday from the LMS or on a mobile device with the Aspire App. The Aspire catalog covers a variety of training topics, including industry knowledge, fair housing and sexual harassment, safety, Yardi software, leadership, professional skills and more. PHAs can also create custom courses to ensure organization-specific learning needs are covered. Assess and develop internal talent: Evaluate your current workforce to identify high-potential employees who could fill key roles in the future with Aspire assessments. Then, map out the key skills needed for each role included in the strategic plan. Configure Aspire to automatically deliver or recommend development opportunities to equip these individuals with the necessary skills and knowledge. These include offering training, mentorship and leadership development assignments — all of which can be set up and tracked in Aspire. IMAGE: Skills assigned report shows a Seattle Housing Authority employee’s progress toward assigned skill proficiency. Custom Learning Plans: Aspire’s embedded authoring tools allow succession plan teams to create custom learning plans that align with their succession goals. These plans clarify the promotion path, which often includes a variety of tasks, learning assignments, forms and surveys and assessments to make sure employees are fully prepared for future roles. External Certifications: Aspire helps PHAs stay compliant with HUD requirements, which is especially important during leadership transitions. In addition to assigning hundreds of short, program-specific courses for Low Income Housing Tax Credit (LIHTC), Section 8, and Enterprise Income Verification (EIV), Aspire clients can upload 3rd party training (i.e., industry certifications) and schedule annual recertification. Comprehensive Reporting: Use the interactive dashboards and scheduled reports to ensure that the required skills and competencies are in place and necessary certifications are up to date. Implementing a succession plan with Aspire Identify Key Roles: Start by identifying the roles that are crucial for your PHA’s operations. Aspire can help document the responsibilities and skills needed for each role. Develop Potential Successors: Use Aspire to create and track personalized development plans for potential successors. These plans can include opportunities to earn badges and rewards, keeping...

AI is top of mind across the real estate industry, and the business case for AI in CRE has become clear. CRE stakeholders embracing AI’s impact on the industry are already employing data-driven approaches to decision making while leveraging AI to improve day to day operations including optimized AP processing and customer service. Following are three ways AI is revolutionizing CRE with tech you can implement now. Chatbots A chatbot is any software solution that simulates conversation using natural language through text or voice interaction. OpenAI’s ChatGPT, Google’s Gemini, Meta’s Llama and Anthropic’s Claude are examples of large language models (LLMs), which draw on vast amounts of data to predict the next word and answer a question or suggest a solution to a problem. Common uses for ChatGPT include writing emails, proofreading and other everyday tasks. Businesses are employing chatbots most often for customer service. In the multifamily sector, owners are using this type of AI to respond to resident questions and maintenance requests, as well as to provide prospects with information about properties. Research shows that a smart chatbot can significantly reduce the number of days it takes to convert a lead to a lease. With regard to saving staff time and optimizing efficiency for maintenance processes, during a call to report a clogged sink, for example, a chatbot can take the resident through steps to resolve the problem before issuing a maintenance request or connecting them with a property team member. Managers at office, retail and industrial properties can use ChatGPT in similar ways. Yardi employs ChatGPT in its natural language processing solution to improve the accuracy of its responses to client questions. Yardi’s chatbot now resolves 80 percent of inquiries that previously required the attention of a customer service representative. As a result, team members are freed up to tackle requests and issues where solutions aren’t readily available and more expertise is required. Web content solutions A widespread lack of website compliance with the Americans with Disabilities Act (ADA) touched off a wave of federal legal challenges beginning in 2018. By creating environments where website users can participate equally, operators can avoid this legal risk and foster seamless interaction with digital content. In recent years, emerging AI platforms in web development have begun to provide solutions to address ADA compliance issues, according to Equally AI, a developer of website accessibility software. Screen readers and natural language processing can analyze and interpret web content, providing auditory cues to assist users with visual impairments, for example, while conversational AI speech recognition capabilities allow users with mobility impairments to interact with websites through voice commands. AI-powered captions and transcriptions provide similar benefits to those with hearing problems. Other solutions include AI-driven interface enhancements such as adaptive design and intelligent navigation, which can adapt websites based on user preferences and behaviors. Machine learning In recent years, Yardi employed a full-service invoice processing center for 60 million annual client invoices, where teams would manually scan, key and code invoices into client environments. This would then initiate the workflow for invoice approval. But over the last three years, the company has migrated that activity to machine learning. Vendor names, invoice numbers and line item details are now encoded into the accounting systems for fully automated processing. Employing machine learning to this tedious, time-consuming task has not only improved accuracy but has also produced cost savings, which Yardi is passing onto clients. “These are very simple tasks, but the machines need a lot of data and experience to achieve a high level of accuracy,” said Brian Sutherland, a Yardi vice president. “We certainly have that data at scale.” Similar endeavors Yardi is working on include a lease extraction solution. That will pair machine learning with a chatbot to identify, collect and organize lease expiration dates, rent step-ups, options and other pertinent information that is typically buried in dense contract verbiage, making it difficult...

Chat IQ is helping one million units with seamless communication! To celebrate this milestone, we spoke with Chat IQ’s biggest fans: Top property managers in the industry. Discover why the industry loves this powerful bot and how it all creates a domino effect when it comes to driving efficiency in their organization. Backing it up with the numbers “We’re thrilled about the unit milestone,” said Paul Yount, industry principal at Yardi. “It means that our valued clients trust us with their AI bot needs.” This year to date, Chat IQ has handled over four million inbound messages for our clients and their agents. This resulted in over 225,000 hours saved, according to Yardi data. One of the standout benefits is the improvement in what Yount refers to as “speed to lease,” or the time it takes for a prospect to become a resident. Chat IQ accelerated the time it took for a prospect to sign a lease by up to seven days. “Days equal dollars when it comes to vacancy, so this is really improving not just the efficiency of the onsite teams, but the community and client’s bottom line,” Yount concluded. About Chat IQ Chat IQ answers prospect and resident questions around the clock through chat, email, text and calls. It frees up your staff to focus on higher-level activities they enjoy more than answering repetitive questions. Chat IQ instantly answers almost all customer base intents, connects customers to real agents if needed and now includes support from Yardi when your agents are unavailable. Our clients say it best Chat IQ has garnered praise from top property managers for its outstanding performance and benefits it brings to their operations. Here are some of the key advantages that make this AI-powered bot an industry favorite. Enhanced efficiency Chat IQ can answer 97 percent of questions without needing to learn anything new, eliminating the need for constant data reentry. Carrie Bakke, senior systems analyst at the Lund Company, shares her experience, stating, “In the first six months after we rolled out Chat IQ, we had an average of three leases per month that were generated entirely from the bot. It freed up approximately six hours a day spent answering questions. And all of that information has been provided without our site teams having to lift a finger.” Freed up time for leasing agents Chat IQ allows community team members to do more valuable and meaningful work, while providing the immediacy today’s consumers expect. “Chat IQ is there day or night, business day or holiday,” said Yount. The ability to operate around the clock has made a significant impact on leasing teams. Leslie Henry, SVP at Towne Properties, notes, “After we implemented Chat IQ, our site teams quickly realized how useful it was in gaining back time. They love how it filtered out less promising leads in the beginning. We let them customize some aspects of the responses so there was more of a personal human touch.” Proven ROI For others, Chat IQ is simply about the return on investment. Jason Gherardini, SVP of IT at Sares Regis Group, highlights the value Chat IQ brings, saying, “We get true ROI with Chat IQ from the first conversation, discussion, all the way to lease. It’s a good product.” And it’s getting even better with a new AI update We’re excited to announce that Chat IQ is now more efficient, more impactful and more streamlined with several AI enhancements: Customizable brand tone: Chat IQ matches your company’s unique voice and style, creating consistency in each conversation. OpenAI ChatGPT integration: Prospects and residents will enjoy more natural, human-like interactions. Better interactions: Chat IQ now responds dynamically to questions, moving beyond templated responses to provide a more interactive experience. Multi-question handling: Seamlessly address multiple questions in a single chat, such as “What’s the pet policy, the nearest dog park and the pet deposit?” New voice...

Affordable housing may very well be the most complex component of the multifamily rental housing industry. Its regulations under federal, state and local programs are challenges that require expensive training and years of professional experience to master. Web developers using a computer together in a creative office. Two business people working on a new software developing project in an office. Given the complexity of doing business in affordable housing, it’s no wonder many organizations choose to contract with third-party compliance vendors such as Yardi RightSource. Chris Voss, Yardi vice president of affordable housing, founded RightSource in 2006. His company found its way to the Yardi family in 2020, creating a unique opportunity for Yardi clients to easily add compliance expertise to their team without having to recruit, hire or train new employees. “I’m proud of the team we’ve built and the services we provide. The numbers show RightSource is not only a successful product for Yardi, but is creating tremendous value for our clients. It’s truly a win-win as our client list grows and we deliver on our promise of reducing the cost and complexity of compliance for affordable housing providers,” says Voss. Let’s take a look at some key metrics to learn more about how RightSource creates value for its clients. Note: You’ll see the term “file” come up a lot in these stats. A file, in this case, means all of the documentation that a household must provide to an affordable housing provider to qualify for a unit. Files are the backbone of compliance as they are audited and reported on throughout the residential lifecycle in affordable housing. 24 hours In general, RightSource advises clients that a file submitted for review will be returned within 24 hours. That’s a stark difference from relying on in-office team members who may or may not be up to date with current regulations, or who may lack industry knowledge to make a truly informed decision of completeness within such a short period of time. AAMCI, a Yardi RightSource client since 2020, attests to the timeliness of file reviews. “RightSource delivers fast file reviews within 24-hours or less. That commitment and reliability helps us fill units faster with the confidence of knowing the data used to approve the file matches our records in Yardi Voyager,” said Deedra Burroughs, AAMCI chief financial officer. 220,000 files, annually Affordable housing providers submit approximately 220,000 files for review every year. That’s as of July 2024, and the number continues to grow. 10 minutes On average, RightSource auditors can actually complete a file review in just 10 minutes! Leveraging proprietary technology that sorts files, automates financial calculations and digitizes file data, the RightSource team and its decades of combined experience completes reviews with impressive speed. 1,900 files, monthly RightSource’s most active client submitted nearly 2,000 files in a single month last year. Imagine how many staff resources that would have required if completed by an in-house team of housing specialists instead of contracting with RightSource. Complete files in less than 1 week On average, it takes three RightSource reviews, each returned to the client usually within 24 hours, before an affordable housing file is determined to be complete and compliant with all applicable federal and state program mandates. If an applicant household can resolve file deficiencies quickly, they’re likely to be certified to live in a unit in less than a week. That’s a fraction of the time many affordable housing providers spend qualifying households without RightSource. Nearly 500,000 units RightSource clients own and operate nearly half a million affordable housing units. More than half of those fall under the Low Income Housing Tax Credit program which is overseen and run by housing finance agencies in all 50 states. RightSource keeps forms current for its clients for LIHTC programs and continuously updates them as each state makes programmatic changes. HUD 50059 units total more than 130,000, and...

Take your leasing team’s performance to the next level with Yardi Aspire — our user-friendly learning management solution built to revolutionize employee development. In the dynamic realm of property leasing, where each interaction holds significance, it’s essential to ensure your team excels in all aspects of leasing. With Aspire’s course assignment tool automatically delivering tailored content from its 10 course micro-learning series on leasing essentials, you can streamline your leasing training process with ease — propelling your team toward success. Maximize your leasing professionals’ potential Aspire helps companies seamlessly integrate third-party secret shop scores, or internally collected shop data, into their long-term training strategy. Secret shops are popular in the industry because they provide invaluable insights on employee performance, detailed scores in critical areas such as warm greetings, information gathering and timely tour invitations. By automating the assignment of micro-training courses, Aspire helps companies centralize that data and take the next step forward. Imagine a system where areas for improvement are recorded and relevant training is assigned automatically. With Aspire, this isn’t just a concept — it’s a reality. Our short, customizable leasing essentials courses focus on specific improvement areas highlighted in the shop report, ensuring targeted and effective skill enhancement. By leveraging Aspire’s automated approach to skill development, companies can maximize the value of their investment in shop services and other employee evaluation techniques. The dynamic solution helps you proactively address skill gaps with a personalized approach. Explore leasing courses in Aspire In today’s competitive leasing market, staying ahead requires continuous refinement of your team’s abilities. Aspire empowers companies to achieve precisely that — offering an innovative, efficient and automated solution to leasing agent performance development that is unique to the individual. Aspire’s leasing essentials courses include: Leasing Essentials: Phone Skills — Examine the techniques needed for successful phone conversations with prospective residents. We’ll discuss using proper phone greetings with prospects, gathering contact information and asking probing questions. Leasing Essentials: Promoting a Property by Phone — Learn the four aspects of promoting your property to prospects over the phone. We’ll discuss how to showcase property features, overcome objections, schedule a tour and close with the prospect.  Leasing Essentials: Building Rapport With Prospects by Phone — Discover the three parts of building rapport with a prospect on the phone.  Leasing Essentials: Responding to Internet Inquiries — Explore six strategies for responding to internet leasing inquiries from prospects.   Leasing Essentials: Preparing for Tours — Find out how preparation of the leasing office, property and unit impacts the success of a property tour with prospective residents. Leasing Essentials: Greeting a Prospect for Tours — See the three best practices for greeting a prospect. Following these recommendations can help you have greater success when conducting a tour.  Leasing Essentials: Gathering Prospect Information for Tours — Unlock the three parts of gathering prospect information prior to a property tour including setup, asking questions and implementing fair housing laws. We also explain the techniques associated with each part of the discussion. Leasing Essentials: Conducting a Successful Tour — Review how to conduct a successful property tour with a prospect. We recommend strategies for each part of a tour including touring the property, touring the home and addressing prospect concerns. Leasing Essentials: Closing With a Prospect — Determine the five steps for closing with a prospect during and after a property tour.   Leasing Essentials: Following Up With a Prospect — Find out when and how often to follow up with a prospect. We also explain best practices for common follow-up methods including email, phone call or text.  Start your journey with Aspire Ready to say goodbye to outdated training methods and embrace a brighter future for your leasing team? Reach out to team Yardi for a closer look at Aspire. We’re passionate about helping you unleash the full potential of your workforce — and witness your leasing success reach new...

Changes to HOTMA guidelines are coming fast, particularly as implementation deadlines approach. If you don’t keep up with changing compliance rules, your team could be learning outdated information. HOTMA stands for the Housing Opportunity Through Modernization Act of 2016. Years in development, the Department of Housing and Urban Development (HUD) is now publishing final rules and developing technological standards for submitting compliance data. Don’t risk implementing HOTMA without knowing current standards. There’s a lot to learn and it all can become overwhelming without a well-informed training professional on your team or a contract with an outside affordable housing consultant. Plan Your HOTMA Training Just in time for 2024 implementation deadlines, affordable housing providers have a new opportunity to receive HOTMA training from the DeSilva Housing Group (DHG), a leading consultant serving the industry nationally. DHG calls this series the HOTMA Express. It’s an appropriate name because the trainings are fast and designed to catch up affordable housing providers with the latest changes to HOTMA implementation guidance. HOTMA Express sessions begin in March. The first in the series will happen in in Charlotte, NC and the next in Gatlinburg, TN. Registration fees for those two sessions are currently discounted by 50%. HOTMA Express trainings continue this summer and early fall in cities across the country. “We designed these courses with flexibility to adapt to HUD as they solidify HOTMA implementation guidelines. My team is diligently keeps up with notices in the Federal Register, and our learners can be assured that the content taught to be up to date with all current policies and procedures,” says Jenny DeSilva, DHG founder and president. DHG expects the training to be especially beneficial because they are live, in-person sessions. There will be ample opportunity for group discussion, questions and answers, and sharing successes and challenges. Attendees should feel comfortable to raise topics and respond to others as the live training environment will foster personal communication. How is Yardi Involved? Yardi® is the exclusive sponsor of DHG’s HOTMA Express trainings. Chris Voss, Yardi vice president of Affordable Housing, explains why. “Many of our clients have asked about the best ways to access HOTMA training. We do our best to make sure they know Yardi solutions will be ready once everything is set by HUD. But, training on best-practices for implementation new policies and procedures will often require a consultant with professional training experience. DHG is a perfect choice to serve in that role not only for our clients, but the industry as a whole,” says Voss. Get On Board While DHG’s HOTMA Express is sponsored by Yardi, it’s open to anyone who would like to register. You can find the training schedule and registration links on the DHG website. “This is a great opportunity for Yardi to help the affordable housing industry prepare for some of the most significant changes we’ve seen in years from HUD. Our team will be there during the live sessions to not only learn from DHG, but also to hear directly from affordable housing providers, clients and not, about their current challenges and effective strategies for HOTMA implementation,” says Voss. Yardi clients seeking even more affordable housing and PHA training, including HOTMA and dozens of other topics, can sign up for the Yardi Forum, coming to National Harbor, Maryland May 23 and...

The multifamily industry has long since been a lucrative target for fraudsters, and recent years have only made it worse. While online leasing has streamlined the leasing journey for many applicants, it has also opened the door for bad actors to manipulate the system, resulting in unpaid rent and bad debt for multifamily owners. The good news is that you can deter fraud from the very start. Read on to explore how technology can enhance security and efficiency across your online leasing process. The rise of real estate fraud Real estate crimes have increased each year since the pandemic. The FBI’s internet crime reports the total reported internet-based real estate crimes soared from $213 million in 2020 to a staggering $397 million in 2022. The multifamily industry was no exception, with many fraudsters taking advantage of the rising popularity of online leasing. According to the Pulse Survey conducted by NMHC, 93.3% of survey respondents reported experiencing fraud within the last 12 months with 70.7% seeing an increase in the same time period. Fraudulent documents have evolved to become increasingly complex. It is now more challenging to detect false applications without the help of technology. And in this digital age, relying on onsite teams to play detective is not practical or efficient. Combatting fraud with technology With the help of AI and automation, tech can detect fake IDs and altered paystubs instantly, stopping criminals who are trying to exploit the system. Of the options out there, consider a system that is easy to use, can easily be trained and can seamlessly connect to your property-level data. Overall, you want to choose tech that makes it not only easy for quality applicants to apply, but also creates an uninterrupted experience from prospect to resident. How fraud prevention tech can benefit everyone involved Implementing an automated screening solution is not just about preventing fraudulent applicants during the leasing process. It’s a proactive approach that can be integrated into various stages of your customer’s lifecycle. Easy touring. Enabling ID verification before in-person and self-guided tours enhances security before your prospect enters your community. It can also be used to manage resident visitor and vendor access, enhancing security within your communities. Faster leasing. If you implement a connected identity verification solution that seamlessly guides prospects into the applicant stage, prospects who have already verified their identity for a tour won’t have to repeat the process if they proceed with an application. This makes it frictionless for prospects to complete their application and streamlines the approval process for your staff. Staff efficiency. Using technology to automatically cross-check information and detect any inconsistencies that may indicate potential fraud is a huge game-changer for leasing teams. But the tech doesn’t stop at identity verification. You can also leverage automation to authenticate applicant incomes, further ensuring that your applicants are able to afford the rent. Not only does this decrease your staff’s manual workload, but it’ll also remove the burden of being detectives. Ongoing verification. Be sure to provide residents with access to a secure portal where they can update their information as necessary. This contributes to a seamless and secure ongoing resident experience. As the multifamily industry navigates the challenges posed by rising internet-related real estate crimes, technology emerges as both a solution and a deterrent. Online leasing, when coupled with robust ID and income verification solutions, accelerates the leasing process and strengthens the industry against fraud. Discover how Yardi’s screening and fraud solutions, ID Verify and Income Verification, simplifies screening for your staff and future residents. Dweck Properties saved up to 30 minutes per applicant during the application process. Want to see it for yourself? Watch this short on-demand webinar on how you can automate ID and income verification to make screening easier for your prospects, staff and...

Interoperable electronic health records (EHRs) provide immense value in senior living, especially when you’re utilizing an all-in-one solution like Yardi EHR. By offering every feature you need on a single platform — and channeling interoperability via verified interface partners — Yardi EHR provides more value than your average platform. Read on to discover more about how interoperable EHRs work (and see what makes Yardi EHR stand out from the crowd). What is interoperability? Interoperability allows information systems to seamlessly exchange data with one another. In senior living, interoperable EHRs help you access real-time health information, save time, mitigate errors, support resident safety and more. Are EHRs different from EMRs? It’s important to recognize the distinction between EHRs and EMRs when discussing interoperability, so here’s a breakdown of the difference: An electronic health record such as Yardi EHR is a digital record of a resident’s chart — plus much more — stored in a dynamic online platform. EHRs connect all aspects of care by allowing multiple providers to access real-time resident data, submit updates and communicate from anywhere. An electronic medical record, on the other hand, is a digital record of a resident’s chart stored in a computer and accessible by a single provider. What makes Yardi EHR an interoperable platform? Yardi EHR is our single-stack solution that helps senior living operators deliver the best care, all from one secure platform. It unlocks the power of interoperability through a range of verified interface partners, meaning comprehensive data automatically flows to and from Yardi EHR in real time. Our support teams also actively monitor the platform, ensuring the highest level of accuracy. The system’s health interface partners include: Kno2 — you can connect Yardi EHR to all outside providers, HIEs and health systems via Kno2, a health information platform that offers access to unlimited cloud faxing, direct secure messaging and referral networks. Depending on your license, additional features available may include Kno2-to-Kno2 messaging, online identify verification, Kno2 and national provider directories, message handling, unstructured document QC tools and more. DS smart — you can instantly transfer EMR data (captured from supported equipment) to Yardi EHR through DS smart, a simplified connectivity solution built to capture, protect and connect resident information. Additional health interfaces supported by Yardi EHR include a nurse call system, dietary management platform, infection control solution and more. Explore all Yardi EHR interface partners here. Contact team Yardi Want to learn more about Yardi EHR and the power of interoperability? Book time with our senior living...

In the dynamic world of multifamily real estate, implementing the latest technology is not just an option, it’s a necessity. Modernizing your leasing strategy is more important than ever as renters increasingly demand instant, automated and personalized experiences. But above all, they value experiences that put them in control of their journey. We’ve identified five key tools and strategies that you can implement or enhance in 2024, putting your customers in the driver’s seat while elevating your NOI. These solutions not only enhance the customer experience, but also streamline your onsite teams’ efficiency. Let’s dive in! 1. Chatbots as virtual leasing assistants Chatbots are revolutionizing customer interaction across industries, and the multifamily industry is no exception. Chatbots can free up leasing teams by fielding the bulk of common inquiries, but what’s the point if it only creates more hassle for your teams with multiple logins and disjointed data? As customers expect more instant gratification and answers, it’s more important than ever to leverage a chatbot that can do more than just chat — the right bot will act as a true extension of your team, answering chats, texts, emails and calls in the voice and tone your organization prefers. Additionally, a chatbot that has access to your property and customer data can help you provide consistent customer experiences from the start. Chat IQ has direct access to Voyager data, providing accurate unit availability, pricing and tour appointment schedules. Here’s a quick overview of what else the right chatbot can bring to the table: Generate conversions with prompt customer service and automated tour scheduling Improve resident retention by facilitating rent payments, maintenance requests, lease renewal notifications and more Reduce operating costs by automating repetitive tasks and streamlining workflows 2. Self-guided tours to empower prospects Want more interested prospects, a speedy leasing process and fewer vacant units? Implementing self-guided tours can help. Self-guided tours offer a more convenient and flexible way for prospects to explore units. Unlike traditional tours that require a leasing agent to be present, self-guided tours can be booked outside of leasing office hours. Plus, you don’t have to hire additional staff. Onsite teams also benefit greatly from self-guided tours, shifting the focus from just showing prospects around to more strategic efforts for enhancing the customer experience. This focused approach not only generates more high-quality leads, but also paves the way for job satisfaction and subsequently, better staff retention. 3. Automated screening for better efficiency and security Your leasing agents are leasing agents, not detectives. Automated screening tools eliminate the need for tracking down lost papers, tedious back-and-forth emails and the responsibility of ensuring whether documents are legit. Automated screening is also a win for prospects. Facial recognition and automation technology reduce obstacles prospects face in trying to apply for an apartment, accelerating their journey to becoming your resident. The same goes for technology that allows prospects to verify their income on the spot. With technology that seamlessly allows prospects to take a selfie and upload a paystub, they’ll be able to get approved for that unit faster. 4. Centralized data for operational excellence Centralization is more than just a buzzword. It’s a strategy that has the potential to yield lower costs, increase efficiency and increase satisfaction for both renters and staff. But a long-term strategy to centralization requires a more nuanced approach. When considering how to centralize, focus on your onsite staff’s expectations, how roles will be specialized and the structure of your centers of excellence. Kim Young, vice president of shared services at Fogelman Properties, suggests refining your automation strategy before jumping head-first into the centralization hype. “Until you know what humans don’t have to do, you can’t know how and where to centralize,” she said.  No matter how you go about it, a thoughtful approach to centralization paves the way for long-term operational efficiency. Need a place to start? CRM IQ gives you visibility into...