The last two-plus years have changed the senior living industry, presenting unforeseen challenges for providers. Mainly, they’re tasked with finding effective systems and strategies to meet the needs of residents, families and staff as the industry navigates a new normal. So which solutions are important, now more than ever? For providers and other healthcare leaders, implementing a software solution may have the greatest impact. According to research like this piece from Ziegler, the pandemic has accelerated the adoption of tech-enabled solutions across the healthcare industry like never before. Implementing the right software solution is key in streamlining operations, increasing resident satisfaction, delivering quality care and the list goes on. But not just any software solution is beneficial. To meet the needs of their communities, providers need a full suite of integrated tools that are mobile, intuitive and efficient. Benefits of integrated software When selecting senior living software, it’s important to know the difference between disparate and integrated systems. With disparate tools, you’re operating communities from several platforms that don’t necessarily speak to each other. That leads to time wasted navigating multiple systems, challenges in bringing staff up to speed, the risk of pulling inaccurate data and more. Ziegler’s white paper notes the importance of choosing a single connected solution to stay ahead of the curve. With an integrated system, every facet of your business is united in one place. That offers ease of use for staff, reduced costs and time savings — all leading to streamlined operations and enhanced care. That’s where the Yardi Senior Living Suite comes in. As an integrated system that eliminates the gap between senior living property management and clinical services, the Senior Living Suite gives providers everything they need to manage their communities. The key differentiator? The union of property management, finance, marketing, business intelligence and resident care on a single platform. At a glance, here are five ways the Yardi Senior Living Suite sets your communities apart: Combine property management, finance and business oversight for improved efficiency, reduced costs and responsive resident services with a comprehensive management tool, Yardi Voyager Senior HousingKeep residents and families connected through a secure online portal, RentCafe Senior LivingMake smarter, faster decisions with actionable information for your entire portfolio through Yardi Senior IQ, a business intelligence solution for senior livingKeep health records error free, limit liability and empower staff to deliver the best resident care with Yardi EHR, a full-service electronic health record solution  Attract new residents, nurture your leads and increase resident retention with RentCafe Senior CRM, a mobile-friendly sales and marketing solution Learn more about Yardi software for senior living There’s no denying the importance of software solutions for businesses — especially those that provide interconnected tools. This holds true for the senior living industry, both through the pandemic and beyond. Still curious about how a single connected solution can transform your business and care services? Explore the Yardi Senior Living Suite and reach out to book a demo with our...

Editor’s note: The following interview was originally published on The Breezeway, the official blog of Yardi Breeze. Chris Voss is currently a vice president at Yardi, but he’s been working in affordable housing for over 20 years. In that time, he’s worked on the investor side of the business, putting together tax credit deals to help developers get their properties built. He later shifted gears and spent a number of years working directly with operators. He’s experienced in helping property management companies optimize and modernize with the help of affordable housing and compliance software. Chris is the perfect person to discuss the future of affordable housing. Keep reading to see how he’s helping Yardi revolutionize affordable housing and simplify compliance. What’s the goal of Breeze Premier?We’re looking to bring everyone on our legacy systems over to Yardi Breeze Premier. This will help us better support our clients with newer software and get upgrades out faster. It also provides a portal for applicants and residents to apply online, make payments and enter work orders. Are there any features that tend to convince people to switch or migrate?One of the bigger points of interest for our residential clients is the ability to launch branded corporate and property websites with RentCafe. This is our marketing and leasing solution built into Breeze and Breeze Premier to support online leasing. It also includes options for integrated screening and renters insurance. Historically, rent collection and work order management have been done manually, so to have an integrated system is really compelling. The most-used feature of RentCafe is probably the resident portal, which automates rent collection and centralizes online maintenance requests. And residents love the RentCafe Resident app. Looking back, what made the previous generations of Yardi software relevant in their time?Years ago, Yardi Genesis and Yardi Genesis2 were some of the most powerful property management systems around. This was especially true for small to mid-sized companies. They didn’t need everything a system like Yardi Voyager had to offer. However, a lot of that functionality was built in to help clients with activities in the back office such as bookkeeping, financial reporting and resident tracking. The reality is that a lot of employees at smaller affordable companies wear multiple hats. They do more than back-office activities. That’s where Breeze Premier come in. What’s making Breeze Premier relevant in our time?In addition to accounting, operations and reporting, our latest property management software includes built-in marketing and leasing tools plus a host of optional add-on solutions to do even more. We’ve implemented text messaging to better communicate with residents and introduced a CRM queue to track customer communications and initiate follow-ups. We leverage artificial intelligence to communicate with potential residents using our RentCafe Chat IQ chatbot. We provide the option for clients to outsource their utility billing and utility invoice processing, among other features. Not to mention, we just rolled out maintenance call center services to Breeze Premier clients with RentCafe Connect. If you were to reimagine affordable housing, what might it look like?Reimagining the future of affordable housing is really about finding ways to reduce the costs and complexities of operations. It starts by reducing the friction that is involved with finding and applying for an affordable home today. RentCafe.com is an internet listing service available for our residential clients. Even a person who wants to move to a different state can now easily apply online. They can also complete the entire certification process without ever having to walk into that out-of-state property. We’re also trying to eliminate fair housing complaints from even arising. With RentCafe Affordable Housing, the certification and application process are done online, so the manager never has influence over the application process. So even if that household ends up being denied, they can’t point back and say the property manager was discriminating against them. Put it this way: In every respect, the future...

Senior living operators build community, and community is increasingly defined by its technology — the tech used by residents, staff and family. These integrated systems are a community’s lifeblood, enhancing key aspects of the day-to-day experience for both residents and staff. They help staff communicate, empower residents and ease concerns for family members. Ultimately, these systems keep senior living communities in sync. That’s the focus of a brand new Yardi-sponsored white paper, Technology is community: How to bring residents, family and staff together. Published by Senior Housing News (SHN), the resource offers an inside look at how providers are using tech to connect their communities in creative ways.   See below for a snapshot of what the white paper entails. Using tech to connect residents, families and staff While the COVID-19 pandemic and subsequent restrictions changed communication in every industry, the pandemic’s risks to seniors made communication in senior living even more important, and more challenging. Today, operators need ways to connect families with their loved ones in communities, and ways to help staff deliver quality care no matter the circumstance. That’s why it is crucial for operators to implement technology tools that streamline communication. Drawing insight from operators Validus Senior Living and Maplewood Senior Living, the white paper shares how solutions like RentCafe Senior Living — a secure online portal — help staff members communicate with each other, with residents and with resident family members. Additionally, how this integrated solution helps users make online payments, review health and wellness information, sign forms electronically and submit maintenance requests. From Validus, you’ll learn how RentCafe Senior Living works to improve communication, streamline billing and even enhance medical care. Through the Maplewood spotlight, you’ll see exactly how this Connecticut-based company is using RentCafe Senior Living to enrich residents’ quality of life in four key areas. That includes socialization, entertainment, safety, exercise and health tracking. Top benefits of improved communication systems New technologies have improved senior living for residents, giving them enhanced experiences in their finances, health, socialization and more. Leading communication tools have also improved the experiences of staff and family. With RentCafe Senior Living, three of the industry’s major stakeholders — residents, staff, families — share a communication tool that is easy-to-use and wide-ranging in impact. Areas of impact include: Resident surveysEasy community communicationPaperless paymentsActivities and wellness calendarsHealth updates for familiesElectronic signatures and document management Explore the white paper for a detailed look at each of these areas. Read more As the pandemic has largely affected senior living communities, it’s imperative for operators to implement technology that enables communication anytime, from anywhere. Read the white paper in full to learn how tech solutions like RentCafe Senior Living make the...

The value of learning management systems as a catalyst for organizational improvement was the topic of a recent webinar hosted by Patty Evans, industry principal for Yardi Aspire, and featuring employees of the Boulder (Colo.) Housing Authority. Learning management systems can promote stability among an increasingly restive employee population. Evans noted that more than 47 million Americans voluntarily left their jobs last year. A recent study of U.S. workers by Cengage Group showed that 64% of survey respondents identified training as integral to their role, while 78% of employees who quit in the preceding six months took an online course to prepare for their next job. An Amazon-Gallup study found that 47% of employees are “extremely interested” in training that upgrades their skills and advances their careers. “It’s clear that if employers do not provide adequate training, employees will find ways to develop the needed skills and that may mean getting a job elsewhere.,” Evans said. “Employers need to have a new mantra: If we want to retain our staff, we have to focus on skills development.” These factors have prompted BHA and other agencies to adopt Aspire, an online learning management system that automates the delivery of personalized learning experiences to half a million users worldwide. Along with live event management, Aspire includes about 1,300 courses on Yardi software, HR topics, compliance and safety, professional skills development and more. Its content is routinely upgraded to reflect changes to Yardi software, industry standards, and federal and state legislation. Learners seeking to refine specific skills can use the site-wide search tool or interactive catalog to locate and sign up for training on more than 200 industry skills and review recommended training options for their current or desired role. Boon to virtual onboarding Along with offering workers immediate skills practice and real-world applications, Aspire also benefits BHA and other organizations as a virtual onboarding tool that automatically assigns relevant training and resources for success to new employees as they begin new roles. The system also automatically recalibrates training assignments as employees transfer to new roles or locations throughout their career. “We can customize the Aspire content with unique company messages such as BHA’s values and mission. This helps make a great first impression of the organization with new employees,” said Carrie Murphy, BHA’s learning management system manager. “You’ll be surprised how much you can do with Aspire’s proprietary authoring and communication tools to make your staff feel not just welcome but connected to your organization. With a little imagination, your employees can dive in and immediately interact with your organization through Aspire,” Evans added. Benefits of automation and personalized learning The webinar revealed that employee engagement and efficiency offered by Aspire holds increasing relevance in today’s work environment. “Since the start of the pandemic online learning has seen a massive increase in participation and continues to grow. Companies benefit when employees feel confident and employees thrive when they’re given opportunities to learn new skills, receive feedback on their training performance and participate in a learning community,” Evans said. Aspire helps BHA’s training administrators by automating time-consuming, repetitive processes, from training announcements, registration management and training and skills assessments to feedback collection and recommended next steps. It also delivers new organizational efficiency and direct cost savings with self-paced content that is automatically developed and maintained by Yardi and industry experts. Trainers can spend less time developing and delivering introductory information and beginning skills and focus more time training advanced topics and imparting institutional knowledge. “Automated training management saves us a lot of time,” Murphy said. Rosemary Mendenhall, a community manager for BHA, offered the user’s perspective. “I love that I can personalize my learning with Aspire. I can pick the classes that I want, with my managers assigning me additional classes that tie in with my job and experience,” she said, noting that the variety of training methods – including highly interactive content,...

Wondering how to simplify and increase accuracy for debt management? You’ve probably been hearing about the benefits of a single connected platform. Whether you’re a borrower or lender, there are multiple aspects of debt to manage. Key processes include calculating amortization schedules for simple and complex loans, tracking collateral and managing critical dates and covenants. Borrowers need to track debt against real estate collateral and account for loans by paying lenders through invoices or journalizing transactions. When done manually, these processes are time-consuming and prone to error. It’s also inefficient and risky to access information from multiple systems and databases. Read on for best practices to streamline debt management using a single connected solution. Eliminate spreadsheets and disparate systems Whether your interests are in managing loan information or debt investments, it’s critical to gain transparency from the investor to the borrower. You need to closely track debt from the borrower along with key deliverables and covenants with lenders. Going paperless and using a system that centralizes all loan data and provides accurate information is the first step for creating greater efficiency. By moving away from manual processes, you gain transparency, mitigate risk and increase efficiency through automation. By centralizing tracking of all loan terms in a single connected system, you can reduce manual errors and ensure data accuracy. Gain visibility into critical dates A key component for clients with debt investments is visibility into critical dates regarding when things are due to be received by the borrower and meeting compliance for key financial covenants. This capability mitigates risk by ensuring deliverables are sent to lenders on time, and tracks collateral and critical dates with notifications. With a single platform that centralizes all debt information, you can provide access to internal stakeholders for the entire loan investment portfolio. You also get deep insight into key metrics and can monitor the status of compliance with all covenants. Automate accounting and reporting For debt investments, you need complete insight and the ability to automate transactions from the borrower through the investment structures to investors. A connected software platform can deliver that for you, as well as enable you to track, account for and accurately calculate all types of investment loans and structures: interest-only, principal and interest, draw loans, revolvers, letters of credit, inter-company, syndicated loans and more. You can also streamline financial consolidations, partner transfers, fund rebalancing, allocations and other processes. For lenders with debt funds, syndications or other debt investments, whether servicing themselves or using a third party servicer, an integrated solution will provide full insight into the performance of this asset class and can automate accounting through the investments to investors. For those lender clients servicing their own loans, you can facilitate collections and secure automation of receipts. A single connected platform enables you to deliver timely and accurate reporting for all ownership structures. You can easily manage the complexities associated with numerous entities and levels between investors, investments and assets. Automate payments With a connected debt management platform, borrowers can automate payments to lenders and gain full visibility and audit trails into payment history. You can easily review historical and outstanding charges and the principal balance of every loan with drilldown into transaction details. Integration with accounting at every level of the ownership hierarchy provides utmost efficiency. Debt investors can automate transactions from the borrower through the investment structures to the investors. In addition to calculating principal and interested, a connected platform will also track funded and unfunded reserves and amortization of fees as well as payment of necessary taxes and insurance at the collateral level in certain regions. Automate billing For client lenders servicing their own loans, a connected platform can automate borrower billing and increase visibility for internal stakeholders by tracking collateral and critical dates. If you have debt as an investment, you can more easily manage and service your debt including billing borrowers and managing capital...

Demand for rental apartments through the first three quarters of 2021 was 28% higher than the U.S. single-year high in the same time frame in 2018. Asking rents were up 11.4% nationally year-over-year through September, with the occupancy rate of stabilized properties reaching 95.9% in August. Stats like these inspire observers to use words like “robust,” “red-hot” and “overheated” in discussing the state of the multifamily industry. Is this strong market built to last? Or is it too good to be true? What key trends will chart the industry’s direction in 2022 and beyond? A group of experts offered insight in a recent conversation with Richard Malpica, vice president and Eastern region general manager for Yardi. Online tech’s scope expands Social distancing mandates fueled expectations for increased online service and flexibilityamong renters and property teams. The desire for a frictionless digital experience extended to all aspects of property management, including marketing and leasing, electronic money orders, vendor payments, invoice processing, self-guided tours and more. Cincinnati-based Towne Properties and BH Management Services of Des Moines, Iowa, whose representatives joined the discussion with Malpica, are among the property management companies that have accelerated their technology adoption for these and other operations. Joanna Zabriskie, BH’s president and CEO, reported that nearly all residents at the company’s properties who were previously paying rent by check converted to electronic payments after the onset of COVID-19. Among other forward-thinking initiatives, BH is also rolling out leak detection technology that prevents costly water damage and enables instant maintenance services, she added. Fraud, staff shortages spur adoption With fraudulent digital transaction attempts against businesses on the rise, risk mitigation is another principal concern for property managers. The discussion participants predicted that artificial intelligence facial recognition technology will be increasingly incorporated into self-guided tours, online leasing, vendor access, income verification and other operations. The group noted a trend toward adopting virtual assistants that respond to all prospect and resident communications, including chatbots that can generate high-quality leads. Smart home tech for locks, thermostats, leak detection and other elements of multifamily housing is also moving up as a priority for residents and managers alike. On another front, the so-called “great resignation” across the economy has impacted the multifamily industry, making it harder for property managers to find and retain qualified staff. Some have responded by centralizing leasing, renewals, collections, maintenance and other operations, automating processes or instituting a combination of centralization and automation. “Centralizing some of our leasing and maintenance has helped us meet our prospects’ and residents’ demands while mitigating staffing shortages,” said Chad Munitz, vice president at Towne Properties. “We were able to move to a hybrid work environment. I think flexibility to work from home has become an essential perk in today’s tough labor market,” added Zabriskie, who noted that 13% of BH’s onsite positions have been open for several months. “It’s harder than ever to hire and retain valued employees,” prompting the BH recruitment team to place more emphasis on positive corporate culture  elements such as days off for mental health, bonuses and added benefits. Boston-based Berkshire Residential Investments also sharpened its focus on company culture issues, instituting monthly town hall meetings to address remote work challenges and other issues, according to Josh Glastein, its chief information and technology officer. ESG’s importance grows With 15% of emissions coming from real estate, sustainability continues to grow as a priority. Institutional clients are increasingly asking for sustainability to be included in property budgets, and ESG is growing in importance for residents as well, according to the discussion participants. Local and federal requirements to comply with ENERGY STAR® standards and other energy initiatives have spurred an interest in energy software capable of gathering and reporting consumption data to property owners and managers. The way forward The participants agreed that, as multifamily property managers and owners adapt to new expectations in the post-pandemic era, carefully chosen and properly utilized...

Why does your maintenance team need to be mobile ready? Mobile maintenance software gives techs the tools that they need to work more efficiently, act promptly and easily document their progress. But the benefits don’t stop there. Read on to learn how your staff can take maintenance to the next level with a mobile-accessible solution. The paper trail is holding back your maintenance team Paper maintenance requests, paper work orders, paper task logs, paper order forms and paper approvals: paper is a problem. Paper can only be in one place at one time, meaning that you need copies (read: redundancy and waste) to keep multiple team members on track. If information is updated on one sheet, you’ve got to update all other sheets, redistribute and store as needed. If you have not already, it’s beyond time to transition into a paperless maintenance system. Online property maintenance software such as Yardi Maintenance IQ makes it easy for leasing staff and maintenance team members to stay on track and up-to-date with tasks. First, renters submit their requests online. It is then easily dispatched to maintenance leadership and their technicians. Technicians can progress through work orders from the field without multiple trips to the office. They can issue status updates, include photos and notes, and request supplies from a single mobile device. All information is automatically updated in Yardi Voyager. In addition to improving efficiency, mobile tools help improve retention by providing great service to residents. Today’s residents are accustomed to doing so much online, from ordering food to paying bills. Residents seek an easy way to submit requests, get quick responses and frequent updates—all of which you can deliver with an advanced maintenance system. The benefits of Maintenance IQ do not end there. Here are the top ten benefits for everyone from on-site staff to stakeholders: Save time. Staff spend more time doing their jobs and less time filling out paperwork, making calls, placing orders and traipsing between units and the office.Reduce paper. No more paper forms or printing, thanks to online work orders and digital signatures. This cuts costs and also meets green initiatives.Prioritize better. Know instantly what the high priorities are every minute of every day, with access to photos from the site and work order entry notes.Get real-time updates. Supervisors, staff and techs can view current updates on a centralized online calendar.Drive less. No need to drive to the office to pick up or drop off maintenance paperwork, and no unnecessary site trips when requests are rescheduled or cancelled. Online directions with mapping, along with resident contact info, help ensure no time is wasted.Track everything... Receive up-to-the-minute status reports and audit trails on assigned and unassigned work orders and employee whereabouts, including emergency responses, and follow them to completion.…that includes tracking costs. Track turn costs and days on the unit turn dashboard and see upcoming units.Get accurate reports. Time-sensitive reporting provides business intelligence and better oversight.Improve productivity. When you’re mobile, you’re not tethered to a desk. Get out it in the field and get more done with your mobile device while interacting with your staff, residents and tenants.Save money. Failing to respond to maintenance requests in a timely manner can result in much more expensive repairs later as well as an increase in costly move-outs. Now you know ten of the most compelling reasons to take your maintenance mobile — and why using a solution that works seamlessly with your property management and accounting system will yield the multiple benefits. Read more about how Maintenance IQ can help expedite rental turns and elevate rental...

Technology has permanently changed how consumers search for, tour, rent, buy and sell real estate. Check out which established proptech tools get a fresh twist this year, and which innovations bring greater conveniences to the industry. Multiple tour options are no longer optional Today’s prospects expect multiple ways to view a property. Technology plays a huge role in the ability to offer multiple convenient tour options. For most renters, the search begins online. A survey reveals that “renters are becoming so comfortable with renting digitally, that 72% say they would rent an apartment without ever seeing the property in person if a 3D virtual tour was offered.” In stead of stagnant photos, 3D self-guided tours use special software to give online viewers a 360 tour of every space in the property. While the majority of renters may sign a lease at this point, for many, this option acts as a filter. It helps prospects identify which units they want to further investigate. Live virtual tours allow prospects to remotely attend a walk-through lead by an agent. This gives prospects an opportunity to ask clarifying questions about the unit, property and neighborhood. The engagement gives the agent a chance to build a relationship with the prospect. Not all prospects want the guidance of an agent. For self-guided tours, prospects use online scheduling software like RentCafe Self-Guided Tours to book a tour. After a quick yet secure verification process on their mobile phones, prospects access the unit. They complete the tour at their own pace, unassisted by an agent. Multiple tour options give forward-thinking property managers an advantage over less tech-savvy competition. Digital twins have joined the chat Want to get ahead of the tech curve and offer your prospects something truly unique? Digital twins have a growing presence in real estate. A digital twin is software that uses real world data to create simulations that predict how a unit or building could perform.   The technology empowers prospects with a better understanding of a property: its environmental efficiency, typical cost of utility bills, and the scope of resilience against natural disasters to name a few. Properties that offer special structural features now have a way to demonstrate those advantages. Bitcoin establishes itself among flexible payment options Online payment options have included ACH and debit / credit cards. More recently, text and voice command payments entered the real estate scene. Now, real estate professionals are also integrating cryptocurrency and blockchain-supported contracts. Bitcoin, the most popular cryptocurrency, began disrupting real estate transactions en masse in 2013. Since then, its popularity and legitimacy has steadily grown. Blockchain, the supporting database, offers secure, anonymous and accurate transactions from start to finish. Real estate firms interested in optimal efficiency and seamless international transactions may consider cryptocurrency with blockchain-supported transactions. Chatbots with machine learning improve responsiveness Responsiveness will make or break a relationship with consumers. Chatbots can answer inquiries 24/7/365 without inconveniencing human agents. Chatbots with machine learning, like RentCafe Chat IQ, will offer a noticeable difference in customer service. These AI-supported bots “learn” with experience, adapting to the nuances of human vernacular to improve future interactions. With chatbots, property managers can offer stellar customer service at any time of day. Staff leans into automated ads Software can automatically transform ILS listing into detail-specific ads. If needed, staff can adjust parameters to hone in on key audiences. For each automated ad campaign, staff receives data on views, clicks and demographics, allowing tweaks throughout the process. Automated ads reduce manual labor while improving ad spend control and ROI. Tech for the win Tech is a powerful ally for any growing real estate business. Technology improves staff efficiency and reduces menial task loads. The same products serve as differentiators that offer sought-after conveniences to consumers.  Seeking a tech partner to help your business grow? Join a webinar to discover a suite of multifamily tech tools to support your...