– The self storage market is achieving stability after an 18-month slowdown, the latest Self Storage National Report from Yardi Matrix shows. Annual street rate growth was still negative as of December. The average annualized same-store asking rent per square foot for the combined mix of unit sizes and types reached an average of $16.57 nationally last month, a 2.7 percent decrease on a year-over-year basis. Nearly all top metros had a negative street rate on an annual basis in December. Combined same-store rates for non-climate-controlled and climate-controlled units decreased in all but one of the top metros tracked by Yardi Matrix on a year-over-year basis. “New supply is a concern in certain markets but overall new supply in the top markets is expected to drop in 2024 as construction lending has dried up in the face of declining street rates, slower lease up pace and higher interest rates,” say Matrix analysts. Self storage is dependent on the housing market for demand and slowing home sales activity and fewer moves have had a significant impact. If the national housing market improves, the outlook for storage will quickly look up. Across the U.S., Yardi Matrix tracks a total of 5,073 self storage properties in various stages of development, including 871 under construction, 1,980 planned, 621 prospective, 1,510 abandoned and 91 deferred properties. Yardi Matrix also maintains operational profiles for 29,745 completed self storage facilities, bringing the total data set to 34,818. Gain more insight on the performance of the self storage sector. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, vacant land, industrial, office, retail and self storage property...
Embracing Peach Fuzz
Marketing + the Color of the Year
Color is a highly influential yet often overlooked element critical in marketing. Pantone’s color of the year for 2024 is Peach Fuzz, which brings a feeling of kindness, caring and collaboration. Peach Fuzz is poetic and romantic and reflects the past, yet it has been refashioned with a contemporary ambiance that brings beauty into the digital world. Color psychology explores how different colors affect human perception and decision-making in powerful ways that marketers can utilize. Let’s explore the various colors and the psychology behind them to help better target audience and influence marketing campaigns and branding. Blue and branding. The color blue promotes a sense of trust, calmness, security and reliability. Blue is always a safe choice for interviews and conveys professionalism. Blue is associated with the throat charka functioning with communication, creativity, expression and truth. Many companies rely heavily on different shades of blue in branding and websites to align with their images of dependability and professional authority. Yellow sparks happiness and energy. The bright and sunny color yellow commands attention by stimulating memory and encouraging communication. Associated with joy and optimism, yellow boosts positivity, sparks imagination and builds confidence. Yellow is associated with the solar plexus charka. It is located just above the navel on the body and functions for expression, accountability and personal power, aligning with the color yellow’s energy. Companies across industries enliven their brands with splashes of yellow to convey happiness, hope and positivity. Many fast-food brands like McDonald’s and Subway integrate yellow prominently in their advertising and restaurants to stimulate appetite and help create an upbeat, family-friendly dining experience. Add splashes of yellow for resident event campaigns to create that same positive and cheerful effect. Green and organic vibes. The natural color of green induces a strong association...
Stay Healthy ...
Navigating Flu Season
This cold and flu season has been tremendously terrible for many. Between the flu, COVID-19 and RSV, many have felt the wrath of these illnesses. Here are some ways to navigate this flu season by staying mentally and physically healthy. Create an outline for a daily wellness routine that includes healthy habits for flu prevention. Start the mornings with gratitude and make time for deep breathing and meditation. Mindfulness practices reduce stress and support mental health. Drink water throughout the day, even if you don’t have a fancy Stanley cup! For a refreshing drink, make a special immunity water with fresh lemon, cucumber, mint or ginger. Water absorbs nutrients, is a critical component of lymphatic fluid and supports the health of mucous membranes. Incorporate more walking, whether in the morning or evening. Outside, fresh air helps the body, mind and soul. Never complain! Not even with coworkers—complaining is toxic. Always include healthy habits for flu prevention by washing hands regularly for 20 seconds, avoiding close contact with people who are sick and avoiding touching eyes, nose or mouth. For more healthy habits, see the CDC guidelines. Make time to schedule and incorporate immune-boosting foods, adequate sleep and exercise. Essential vitamins and minerals are crucial for immune support during flu season. Incorporate some of the following that play a vital role in immune health: Beta Carotene: found in plant foods such as sweet potatoes, spinach, carrots, mangoes and broccoli. Vitamin C: citrus fruits, melons, berries, bell peppers, tomatoes and broccoli. Vitamin D: fatty fish and eggs. Milk and 100% juices fortified with Vitamin D are also good choices. Zinc: Best absorbed in beef or seafood but also found in tofu, beans, nuts and wheat germ. Probiotics: probiotics are good bacteria that promote health and are...
Student Housing Stands Out
Yardi Matrix Update
The student housing market jumped into the 2024-2025 leasing season on a high note, with December preleasing well ahead of last year’s figure, according to the latest Yardi Matrix National Student Housing Report. Asking rates also continued to climb, hitting $858 per bed in December and marking a 4.9 percent increase on a year-over-year basis. The sector was off to a record start, as preleasing for the 2024-2025 school year reached 47.3 percent in December, a nine percent increase over December 2022. The exceptional preleasing indicates a high renewal rate, with 51 markets boasting a 50 percent rate in December and ten schools already at least 75 percent preleased. Rent growth slowed a bit, falling from 6.4 percent recorded earlier in the leasing cycle to 4.9 percent in December 2023. “Many of the markets with the fastest preleasing are seeing the strongest rent growth as operators take advantage of the surge in demand. Twenty-seven schools with over 10 percent rent growth in December are, on average, five percent ahead of preleasing last year,” the report states. Based on data gathered from more than 150 schools, Yard Matrix shows a rebound in enrollment in the current academic year. Enrollment at these schools is up 1.4 percent from last year—almost triple the growth recorded in fall 2022. Student housing investment is in line with current trends across the real estate industry, as high interest rates continue to impact sales. Preliminary data shows that only 73 student housing properties changed hands in 2023 across Yardi 200, compared to an average of 205 properties sold in 2021 and 2022. Gain more insight in the new Yardi Matrix National Student Housing Report. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, student housing, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...
Partners in Housing
Achieving Self-Sufficiency
Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. Today, we introduce Partners in Housing (PIH), founded in 1991 in Colorado Springs, CO. Partners in Housing’s mission is to guide families in the housing crisis from insecurity to stability, self-reliance and prosperity. Throughout its 33 years in the community, the number and complexity of this issue have continued to change and grow. PIH’s Family Self-Sufficiency program provides homeless families with children a safe, stable place to live where they gain the knowledge and practical skills to overcome personal barriers and achieve self-sufficiency. Due to economic difficulties and inflation, PIH had an influx of applicants in the past year. The added pressure and increases make it harder for some to afford doctor visits and daycare. PIH offers housing and childcare to relieve external stressors while families work towards their goals. The program offers courses to improve credit and budgeting, technological literacy, employment qualifications, and the confidence to utilize these skill sets. PIH staff also provide various employment training resources, allowing clients to work toward their desired career path. “The resources provided within PIH’s Family Self-Sufficiency program allow clients to explore their financial health and knowledge in a safe, supportive space, leading to lasting change,” said Kayley Weber, grants and web presence manager for PIH. PIH’s board of directors has recently approved an updated strategic plan with support from its advisory board, which includes past clients. The plan consists of newly approved goals and initiatives with a specific continued focus on outreach to those in the area who are disproportionately affected by the housing crisis, including those members of the BIPOC community and others who are underrepresented...
Sarah Kermon
Yardi Employee Profile
Yardi’s global offices make essential contributions to property management and investors worldwide. Today, we introduce Sarah Kermon, associate technical manager with the Raleigh office’s Commercial NC Practice 3 Team. Meet Sarah Kermon Sarah Kermon has been working at Yardi for a little of a year. She assists with incoming support requests from Yardi clients. She also helps her team members with cases for their clients as needed and provides peer support to other colleagues. When she is not working on cases, Kermon betters her knowledge of Voyager and various software components. One emphasis is deepening her technical understanding of reports in Voyager. “I enjoy the opportunities to pursue areas of interest, which include building up my technical skills with things like SSMS, Profiler and learning more about the backend structure that makes our products work,” said Kermon. Kermon has grown exponentially at Yardi due to her colleague’s willingness to help her. She always feels comfortable asking questions and reaching out in areas of uncertainty. Yardi prioritizes its employees in a way that provides comfort as new hires adjust to their positions and creates an environment that welcomes challenges and curiosity. “Everyone around you is invested in your success and wants to give you opportunities to learn and excel,” shares Kermon. She continued, “I am super excited to be working in my new role with the Commercial NC Practice 3 group and love getting to know all the amazing people who have guided me along the way!” Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. Rubix Cube Extraordinaire While Kermon is not working at Yardi, she enjoys cooking and trying new restaurants. She recently learned to make chicken piccata, which is her new favorite. She also enjoys collecting puzzles and...
8 Advantages Of Our Online Portal
New Senior Living Infographic!
It’s crucial for senior living operators to keep residents, families and staff connected online. This requires technology built for the task — a solution that’s mobile-friendly, intuitive to use and completely secure. This built-for-you software should make around-the-clock communication effortless while offering a convenient place for all parties to complete important tasks. That describes RentCafe Senior Living Portal, our all-in-one solution designed for the unique needs of senior living. We put together a fresh infographic to show you 8 specific ways the platform offers unmatched value. 8 ways our secure online portal helps operators like you With RentCafe Senior Living Portal, you’re set to: Empower residents, families and staff to communicate anytime, from anywhere Give families peace of mind with instant access to resident health updates Offer convenience and increase cash flow with online payment options Boost satisfaction with easy-to-use, mobile-friendly features Enable electronic signatures for leases, pet contracts and more Organize and expedite maintenance requests Drive resident engagement for community wellness activities Collect confidential feedback to protect your reputation The proof is in the portal “The resident portal allows us to communicate and provide information to our residents and their families quickly and conveniently,” shares Yardi client Dan Poteet, chief information officer at Westminster Village. “Residents and their families have given us positive feedback about online payments, the activities calendar and the ability to get community information on their own.” Today’s population prefers technology Transitioning residents (and their adult family members) to an online portal is easier than you may think. In fact, many want the conveniences and connections technology brings, even if it’s unfamiliar. In fact, according to AARP, 44% of adults age 50+ view technology as a helpful way to stay connected and 54% of adults age 50+ want to learn more about using technology. Get in touch with us RentCafe Senior Living Portal is part of the Yardi Senior Living Suite — our single connected solution designed for senior living. Ready for a closer look? Reach out to book a personalized...
SafeHaven of Tarrant County
Ending Domestic Violence
Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. SafeHaven of Tarrant County, founded in 1976 in Arlington, Texas, is the only state-designated center for family violence in the county. Throughout SafeHaven’s history, they have never strayed from a mission to end domestic violence. SafeHaven creates a custom service plan for every family who walks through its doors. SafeHaven is the only 24/7 domestic violence hotline in Tarrant County and connects families to robust resources, including emergency shelters, transitional housing, counseling, legal aid and more. SafeHaven’s Prevention Department focuses on preventing and decreasing dating violence and bullying by implementing evidence-based school programs. Its Partner Abuse Intervention and Prevention Department works with domestic violence offenders to end violence in their relationships. “We will not stop until EVERY woman in Tarrant County feels safe in her relationship,” expressed Kendra Balod, director of development for SafeHaven. SafeHaven is collaborating with RAND Corporation to develop a nationally recognized tool to help the criminal justice system and others in the work of domestic violence to determine the dominant aggressor in an abusive intimate partner relationship. “We are proud to announce the tool will begin testing at law enforcement agencies nationwide in 2024. In addition to survivor resources, our goal is to emphasize research and continue bettering the systems survivors count on daily to survive,” said Balod. Funding from Yardi is vital in keeping survivors and their children safe and holding offenders accountable. When a woman gets the courage to call the hotline, she must count on a secure room in the shelter. Yardi’s contribution makes that safety possible and funds vital work in bettering the system for those who depend on it to survive. “We were thrilled to receive such a generous gift from Yardi! Domestic violence affects everyone, and it’s vital to have such supportive community partners on our team. Partnering with new organizations like Yardi in this important work is always exciting. This gift is truly life-changing for women and children in our county,” Balod shared.Carrie’s Venture Carrie arrived at the shelter after finding herself in a familiar but painful situation: returning to her abuser after once again being charmed by him. But this time would be different – Carrie was determined to provide her children with a better and safer environment. Their home life was no longer acceptable.SafeHaven’s team helped Carrie find employment just two weeks into her stay, and the shelter’s children’s team provided free daycare so Carrie wouldn’t have to worry about her kids’ safety while she was at work. Despite her former partner intentionally damaging her car, Carrie’s support network helped her acquire new transportation for her family.Finding affordable housing after shelter can be tricky. Still, Carrie was determined, and SafeHaven helped her find a new apartment close to work and provided the essentials for her new home. Carrie left the shelter and moved into her home in a much-improved state of mind. She felt safe and independent and was proud of the life she created for her children.Carrie has continued participating in SafeHaven’s domestic violence group sessions to learn more about warning signs and establishing boundaries and communication in new relationships. “Carrie showed that with determination and life-saving community resources, freedom from domestic violence IS possible,” expressed Balod. Volunteer Opportunities There are multiple volunteer opportunities at SafeHaven. To learn more, please email SafeHaven’s volunteer manager, Katy Pirot, at [email protected]. In Tarrant County, one in three women will experience domestic violence in her lifetime. “The number one rule of being an ally to a victim of domestic violence is to believe her. Often, abusers can be charming, and it can be hard to believe that someone you know can do such bad things to their partner. It’s not your role to investigate for abuse – your role is to...
See Brightwater’s Success
With Yardi Senior Living Solutions
“The centralized location of all the information in the Yardi Senior Living Suite is a game changer.” That quote comes from our brand-new success story featuring Quintin King, president at Brightwater Senior Living. King joined us for an insightful interview to share Brightwater’s positive, transformative experience with Yardi Voyager Senior Housing, Senior IQ, EHR and RentCafe Senior CRM. We got a front row seat to the challenges Brightwater faced before working with Yardi, then a detailed look at their successes since making the switch. Read on to see how the above solutions (all housed on a single platform as part of the Yardi Senior Living Suite) are helping Brightwater drive efficiency, save time, mitigate errors and more. Meet Brightwater Headquartered in Oregon, Brightwater Senior Living designs spaces, services and amenities which adapt to the life, needs and choices of residents. Brightwater has worked to create beautifully designed, meticulously managed communities (13 in total) staffed by the highest caliber senior living professionals. Read more about Brightwater’s journey and commitment to care. The challenge Brightwater used to rely on disparate technology solutions and manual processes. Not only did this approach require teams to navigate multiple systems and platforms, but it was also time consuming, costly and prone to errors. The solution Brightwater chose the Yardi Senior Living Suite since it seamlessly connects every tool they need on a single platform. Teams now work smarter, faster and more efficiently with an intuitive, integrated solution hosted on the cloud. The story Since moving forward with the Yardi Senior Living Suite — which automates processes and integrates workflows — Brightwater is building success like never before. This includes: Gaining hours back across teams — now that Brightwater is no longer navigating disparate systems and manually transferring data, teams are experiencing significant time savings. Voyager Senior Housing, Senior IQ, EHR and RentCafe Senior CRM offer secure integrations and real-time information sharing — helping leaders and staff complete tasks faster than ever. Unlocking a 75% reduction in manual reporting — with Yardi automating processes Brightwater previously did manually, operations are smoother, teams are empowered and errors are mitigated. With Senior IQ in particular, teams have access to readily updated data and reports via attractive, sharable dashboards — meaning a majority of Brightwater’s manual reporting efforts are no longer necessary. See more of Brightwater’s success If you’d like an even closer look at Brightwater’s wins with each solution, we’ve created a more in-depth resource to share with you. Read Brightwater’s complete success story here. If you’re interested in booking a demo to see our senior living solutions in action, reach out to our...
Mary LaForge
Yardi Employee Profile
Yardi’s global offices make essential contributions to property management and investors worldwide. Today, meet Mary LaForge, director of programming for Public Housing Authorities (PHA), out of the Santa Barbara office. Meet Mary LaForge Mary LaForge has been with Yardi for 21 years. She oversees a team that includes programmers, quality assurance (QA) specialists and technical writers. She also works with the PHA team in Pune, which again consists of programmers, client-services (CSD) support staff, software conversion experts and QA specialists. “I collaborate with our team as we implement compliance changes in our current products and develop new products, such as Compliance Manager and Asset IQ, on the new Elevate platform. I work closely with HUD to understand policy changes that impact our software,” said LaForge. Subsidized housing is a challenging and complex market. Working on HUD compliance changes is not easy. Gathering the complex information needed to implement the required changes successfully can be difficult, and there is pressure to deliver on time. “I view these challenges as an opportunity to excel and grow for Yardi to be a standout vendor in the PHA market. I am fortunate to be working with the talented individuals on our team. I treasure and enjoy our team’s extensive collaboration, ” LaForge expressed. Working as a member of the PHA team gives LaForge pride and satisfaction because the software helps housing authorities provide housing for the underprivileged. “In an indirect but substantial way, I believe I am contributing to communities nationwide,” LaForge shared. In addition, LaForge works and helps the sales team with prospective client demonstrations and participates in client meetings. Longevity with Teamwork Yardi is a unique and welcoming company. Collaboration is intentionally and strongly encouraged. Everyone’s ideas and opinions are heard and respected. “In meetings with peers, vice presidents, or the CEO, everyone feels comfortable providing their thoughts and suggestions. We may intensely and passionately debate how to solve an issue at a meeting, but we can feel comfortable going to lunch with disagreeing people. When a solution does not go as we hoped or planned, we correct the issue, learn from it, and move forward,” explained LaForge. New hires are always astonished when they discover how long LaForge has been working with Yardi. “In one of the interviews, there were three of us on the panel, and the collective time spent with Yardi was fifty years! This number is incredible and sometimes unfathomable to these prospective employees,” said LaForge. Yardi’s corporate culture gives opportunities to work with incredibly talented individuals and hard-working teams to create, contribute to, grow, and develop exceptional products that help communities worldwide. Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. An Advocate for Education LaForge grew up in India and came to the U.S. for a master’s degree. While in India, LaForge was involved with a few organizations for children’s education. Lack of access to education is a significant challenge there. “I believe education is the only way to narrow this divide. Being a parent of a young child has taken away any extra time for doing this wonderful and satisfying work. But someday soon, I hope to become involved in childhood education again. I am especially interested in education at the elementary school level. My heart very much wants me to do this work in India, possibly starting a school in underprivileged communities there,” explained LaForge. LaForge’s daughter is nine years old and keeps her super busy. However, time is limited with her when LaForge is traveling for HUD and conferences nationwide and to Pune. Therefore, she tries to spend as much time with her daughter as possible when she is home in Santa Barbara. “We love to travel as a family. I believe traveling to other countries and learning about other cultures at a young age can nurture tolerance and develop deeper empathy for all human beings,” LaForge shared....
Traffick911
Journey to Freedom
Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. Today, we introduce Traffick911 of Addison, Texas, founded in 2009. Traffick911 exists with the sole purpose of freeing youth from sex trafficking by building trust-based relationships. Traffick911 has a 24/7 crisis response Voice & Choice Program team that walks alongside child sex trafficking victims along with multi-disciplinary team partners. Traffick911 hopes to expand its advocacy team so more child survivors of sex trafficking have an advocate. “Advocacy at Traffick911 is built upon trust-based relationships, meaning that we go deep with the youth we serve and those in our community,” said Dominique Arce, mission engagement coordinator for Traffick911. In addition, the organization hopes to provide further support to families and caregivers with their children during recovery periods. Funding from Yardi helps Traffick911’s mission and allows them to expand their impact to serve more kids than ever. Advocates spend nearly every day in the community meeting with youth and walking alongside them in their freedom journey. Through play and fun activities, advocates build trust and can work towards Traffick911’s goal of seeing communities free from relationship deviation. “We are completely humbled and grateful to Yardi! During our weekly team meeting, we had the chance to share the news with our entire staff. You should have heard the cheers! Every dollar given to Traffick911 is a YES to a child sex trafficking survivor. Truly, we would not be able to impact the lives of the survivors we serve without you. We are grateful,” expressed Arce. Alaina’s Freedom Journey “Oftentimes, when we begin our journey with a survivor, their exploitation has been extensive—rarely are we able to intervene in the...
Meal Kits: Worth the hype?...
Comparing food prep options
With so many meal delivery services out there, who is the best? If you want to join one but are overwhelmed with marketing emails and social media ads, we researched the offerings to see who ranks the best on price, tech-savvy, customer satisfaction and dietary options. Hello Fresh Hello Fresh started in 2011 in Germany and has been the most popular meal kit service worldwide. The company boasts of being budget-friendly, fresh, tasty and sustainable. With over 7 million active customers and over a billion in net revenue, this sounds like a no-brainer when selecting them for service. The app is rated 4.7 on Apple and ranks #23 in its charts for food and drink. However, with the pros come the cons. According to Consumer Affairs, Hello Fresh ranks 1.4 stars with unbiased reviews. Many lower rankings for Hello Fresh stated that the food was too small of portions and surprised billing issues. Overall, Hello Fresh appeals best to the working adult for easy, healthy recipes that do not require shopping at grocery stores or searching for recipes, and it’s cheaper than eating out. Blue Apron Blue Apron is an American ingredient and meal kit company headquartered in New York City. It rated 4.7 on Apple and ranks #166 in its chart for food and drink. Consumer Affairs ranks at 2.9 stars. Again, appealing to the working adult, Blue Apron offers conveniently prepared meals and wellness plans for healthier options and even wine delivery for wine suggestions for meals. Blue Apron uses non-GMO ingredients, hormone-free meats and sustainably sourced seafood. However, it does not cater to niche diets such as Keto or Vegan and does not have options to exclude allergens. Plus, many find it to be overloaded with plastic packaging. Home Chef Home...
2023 Highlights
A Year in Review
As December comes to a close, it’s time to look back and reflect. 2023 was another remarkable year for Yardi offices and employees around the world. Here were a few of the highlights. Glassdoor Employees’ Choice Award In January, Yardi started off the year strong as we were honored with a Glassdoor Employees’ Choice Award for the third time as one of the Best Places to Work in 2023. The Glassdoor Employees’ Choice Award is based solely on the input of employees, who voluntarily provide anonymous feedback by completing a review about their job, work environment and employer on Glassdoor, the worldwide leader on insights about jobs and companies. “Taking care of our employees and offering opportunities to contribute to our clients’ success are guiding principles at Yardi,” said Anant Yardi, the company’s CEO and founder. “We are honored to receive this prestigious award again from Glassdoor, and we are grateful for the supportive culture that has been fostered at all levels within our organization.” Voyager 8 Unveiled The latest edition of Yardi’s flagship property management and accounting software has much anticipated user-friendly upgrades and features. Voyager 8 will be widely available to clients beginning in January 2024. “The biggest thing with Voyager 8 to get excited about is the user experience. The user interface is completely different. It’s a big leap from Voyager 7S. It’s not a leap in terms of the upgrade process, though,” said Rob Teel, president of global solutions, in September at YASC in San Diego. In addition to the new user experience and simple upgrade process, Voyager 8 is built for compatibility with artificial intelligence (AI), promising a continual opportunity for real estate companies to use the new technology for efficiency and smoother operations. Want to learn more? Reach out to our sales team. Yardi Virtuoso brings AI to real estate This fall, Yardi released Yardi Virtuoso, a multifaceted platform built to shape the future of AI in real estate. Virtuoso delivers automation technology across various applications to expedite workflows, increase efficiency and augment teams for improved performance and better net operating income. “The AI platform automates repetitive workflows and routine tasks to help our clients reach new levels of efficiency. We look forward to seeing its positive impact through 2024 and beyond,” said Akshai Rao, president of residential at Yardi. Learn more about this human-centered approach to AI. Forbes Cloud 100 In August, Yardi was named again to the prestigious Forbes Cloud 100 list, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. Yardi was a member of the inaugural Cloud 100 in 2016 and is the only company focused on the real estate vertical this year. “We’re honored that Forbes continues to recognize Yardi for our cloud technology and services,” said Jay Shobe, senior vice president of cloud services at Yardi. “Since the inaugural list, this inclusion has reflected our employees’ continual efforts and our clients’ unfailing support worldwide.” Another major EPA honor In March, Yardi received the 2023 ENERGY STAR Partner of the Year Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy after being named Partner of the Year for five consecutive years. The award celebrates companies that offer energy services and products in the commercial, institutional or industrial markets for successfully assisting clients with strategic energy management and building design. Partner of the Year award winners have committed long-term to fighting climate change and promoting public health through energy efficiency messaging. Cloud VO acquired In June, Yardi announced the acquisition of CloudVO, the San Francisco-based online reseller of virtual offices, meeting rooms and other workplace services. Laurent Dhollande, CEO of CloudVO, commented: “We are thrilled that CloudVO is now part of Yardi. Our partners will benefit from the Yardi listing service with infinitely more reach and strength than CloudVO could provide...
Office Celebrations
Around the world
End of year gatherings were abundant this year, with many Yardi offices ending the year with festive get-togethers. Here are some highlights from #TeamYardi celebrations worldwide. In North America, Canada celebrated its 25th anniversary and gathered to celebrate with raffle prizes, dancing and more. The Atlanta office had a fancy holiday reception at the Delta Sky360 club in Truist Park and had a sweet and spicy gingerbread house competition in the office for the end of the year. Michael Sturniolo’s team made an impressive win with a double-decker gingerbread house, “Gingerbread Jack & the Jellybeanstalk.” (See photo in gallery at end of post.) The Raleigh office gathered for a festive evening out with collegues, featuring food, drinks, a photo booth and lots of laughs. On the East Coast, the New York office had a holiday lunch with a surprise VIP guest (Mr. Anant Yardi) at Benjamin Steakhouse, and the Long Island office had a holiday party at Crest Hollow Country Club. Scottsdale, Minneapolis, Salt Lake City, and Boise had fun competitions with games, golf and basketball. In Texas, the Dallas and Irving offices gathered for a fun family night at the Mavericks NBA game. The UK had a holiday celebration at Fairgame in London and embraced some friendly competition, with Harry McBrearty having the most points and winning a 5ft bear! The Middle East celebrated the festival of lights—Diwali- in Pune and Dubai. Dubai also marked the end of the year presentation with a fantastic lunch, a gift exchange and New Year spirit. Additional images from the celebrations can be seen below. Thanks to all the offices who shared photos of their gatherings. Wishing you a safe and joyous holiday...
Reflecting on 2023
Focus on Personal Growth
As 2023 closes, take some time for reflection and introspection to gain some valuable insights from the past year. Consider exploring the following aspects so 2024 is the most successful year yet! Achievements and milestones. When popping the champagne for the new year, celebrate the big and small accomplishments made throughout the past year. Each achievement is a triumph, a testament to dedication, hard work and perseverance. Whether it was a project that exceeded expectations, a personal breakthrough or a significant professional accomplishment, these moments are the building blocks to success. Remember that milestones are the markers of progress toward a larger goal, and achievements are specific accomplishments. For example, achievements are receiving an award or recognition, whereas a milestone is buying a new home or getting a promotion. Both deserve that extra clink and cheers at midnight! Challenges faced. Challenges and obstacles can be opportunities for personal and professional growth. Some milestones and achievements are challenges that have been conquered. Acknowledge these challenges with pride, for they are the foundation of future endeavors. These insights are invaluable and offer a blueprint for navigating future challenges. Remember, a smooth sea doesn’t make a skilled sailor! Learnings and takeaways. Identify lessons learned from the past year that emphasized personal development and self-awareness. Each lesson learned is a wealth of knowledge. What worked? What didn’t? Reflect on the strategies, decisions, and actions contributing to milestones and achievements. Incorporate SMART goals for the new year and make them a priority. Gratitude. Practice gratitude by reflecting on the positive aspects of the past year. Journalling is an excellent way to practice gratitude and reflect on the year’s achievements and milestones. List everything you’re grateful for and read it daily. Foster a positive mindset for the future. More positivity...
Science of Snowflakes...
Appreciating Winter's Beauty
Winter is here, which means lots of snow for the Northern Hemisphere. Let’s explore the captivating world of snowflakes by delving into their intricate structure and formation. To quote Aristotle, “To appreciate the beauty of a snowflake, it is necessary to stand out in the cold.” Snowflakes are captivating, with each delicate ice crystal’s unique hexagonal shape. The dendrite form of snowflakes is a study in water chemistry. Professor Krystopher Chutko of the University of Saskatchewan explains, “When ice forms at the molecular level, the angle between the hydrogen and oxygen atoms will always be 120 degrees—put the three of these together to get a complete ring of molecules with a six-sided structure. Since a growing snowflake doesn’t change too much, those attachments tend to occur evenly across the six points of the hexagonal flake. “Molecule by molecule, the snowflake grows and eventually begins to fall. This takes the snowflake to a new part of the atmosphere where temperature and humidity are different, resulting in new ice structures forming but still with the same angles,” defined Chutko. A typical dendrite is made up of about a quintillion individual water molecules. Between that and the slight changes in temperature and humidity, no two snowflakes likely form similarly, resulting in no two snowflakes being alike. Snowflake size and shape are determined by cloud temperature and humidity. The colder the air surrounding a growing snow crystal is, the more intricate the snowflake will be. More elaborate snowflakes are grown when the humidity is high. If the temperatures within the cloud are warmer or the humidity is low, expect the snowflake to be shaped like a simple, smooth, hexagonal prism. The mesmerizing beauty of individual snowflake patterns is incredible. Not only are these minuscule structures very intricate, but...
Spreading Holiday Cheer
Yardi Senior Living Clients
‘Tis the season to share sweet and uplifting holiday stories, and there’s no shortage available from our senior living clients! We absolutely love spotlighting their activities and celebrations each year — from Christmas caroling to decorating parties — to bring some holiday cheer to The Balance Sheet. Enjoy the roundup of stories below. Making seasons bright at Pacifica Senior Living Pictured in a recent LinkedIn post, residents across Pacifica Senior Living communities have been decking the halls with Christmas decorations! They’ve also been enjoying events like Pacifica’s Jingle Bell Brunch — a gathering packed with festive food, Christmas caroling and mingling among residents, families and staff. And speaking of staff, Pacifica’s culinary teams are bringing seasonal cheer to their communities through a holiday dessert competition. Each chef is recreating a special dish, sharing the traditions and stories that inspired it! You can read about their merry creations on Pacifica’s blog. Creating holiday magic at Brightview Senior Living At Brightview Senior Living, residents brought the magic of Christmas to life with a festive poem reading. You simply have to watch the video posted on their LinkedIn, which happens to include some residents dressed for the season (spoiler alert, it includes Santa and Mrs. Claus). Brightview Severna Park also had a special visit from Saint Nick during the community’s 10 year anniversary party! The photos shared on social media remind us that it’s truly the most wonderful time of the year. Walking in a winter wonderland at Watercrest Senior Living Watercrest Senior Living is no stranger to holiday magic, which we got to see in this collection of photos on LinkedIn. They’ve created glorious winter wonderlands across their communities with the help of residents and staff! Keeping up with the spirit of the season, they’ve also shared photos from their festival of trees event and a snapshot of residents making holiday-themed crafts. Decorating for the season at Maplewood Senior Living We loved seeing how Maplewood Senior Living created festive fun for residents this holiday season! That includes ornament and wreath-making at Maplewood Orange, pictured on social media. Residents got the chance to hang their creations on trees throughout the community, as well as on their apartment doors. Happy holidays from team Yardi We hope you enjoyed the holiday highlight featuring our senior living clients. From all of us at Yardi, we wish you happy holidays and a wonderful new year! If you’re looking to connect with us in the new year and learn more about how we support our clients, reach out here....
Multifamily Outlook
From Yardi Matrix
After two years of stellar growth, rents decelerated in 2023, despite demand still at strong levels thanks to a resilient economy. The 2024 Multifamily Outlook from Yardi Matrix anticipates a year of challenges, including slowing national rent growth. National rent growth moderated to 0.4 percent year-over-year through November 2023, from a combined 23.5 percent in 2021 and 2022. Absorption stabilized at 300,000 apartment units in 2023, compared to 600,000 in 2021 and 200,000 in 2022. Yardi Matrix expects that rent growth and occupancy will be heavily tested next year. Of the 1.2 million apartment units under construction at the start of 2024, 510,000 are expected to be delivered by the end of the year, the highest number in decades. “We expect demand for multifamily to remain healthy in 2024, but headwinds that include slower job growth, increasing supply and waning affordability in some markets will keep rent growth restrained again,” state analysts, forecasting a tepid 1.5 percent rent growth nationally. The 2024 forecast calls for Midwest metros to lead rent growth, and the Sunbelt and West markets to continue to experience in-migration from the coasts both by residents and businesses. Sunbelt markets such as Austin, Nashville, Charlotte and Orlando are already seeing stalling rent growth, and despite robust population and job growth, they boast high levels of new supply, which will further suppress rents. On the investment front, already down by 70 percent year-over-year, multifamily sales will likely remain sluggish in 2024, due to the impact of interest rates and pricing uncertainty. Gain more insights in the latest U.S. Multifamily Outlook from Yardi Matrix. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix...
Protecting Packages
Tech Solutions for Porch Piracy
Happy holidays! Tis the season for festive celebrations and heartfelt gift giving. Unfortunately, along with the year-end holidays comes peak season for porch piracy. A porch pirate preys on parcels and steals them from homes. These thieves can strike in any neighborhood at any time and target all sizes of packages. Porch pirates are opportunistic and work quickly. Package theft has been a persistent affliction since online shopping has taken over, and porch pirates show no sign of yielding despite porch theft being a felony in many states. According to a recent statistic from Security.org, 44 million Americans have had a package stolen in the last three months. Porch pirates strike regardless of climate conditions, but some states are plagued by porch pirates more than others. Forbes compiled a list of the worst states with porch piracy packages stolen—New Hampshire ranked first, and Florida ranked last. Luckily, by incorporating some simple measures, you do not have to fall victim to these thieves this holiday season and beyond. Let’s explore some cutting-edge technologies and practical tips to ensure safe package deliveries this season. Outsmart porch pirates with clever strategies such as choosing secure delivery options, using delivery lockers and coordinating deliveries with neighbors to minimize the risk of porch theft. In mixed-use buildings, delivery lockers are the best option for residents and tenants. If working in an office building all day, have the necessary packages delivered to the office. There are various smart mailboxes and high-tech security devices for protection from porch pirates and environmental threats. Perhaps you are pretty fond of your mailbox but would like some smart features. Ring WiFi smart mailbox sensor fits inside the mailbox and will automatically send an alert to your phone in real-time whenever the mailbox is open....
NAMI Greater Cleveland...
Mental Health Togetherness
NAMI Greater Cleveland was founded in 1979 in Cleveland, Ohio. For more than 40 years, this organization has been smoothing out the challenging path that emerges when someone is diagnosed with a mental health condition. This arduous journey is often through feelings of shame, fear and uncertainty and is compounded by a lack of understanding and the persistence of societal stigma. NAMI GC offers free mental health education and support programs as essential bridges and supports medical protocols. Support Groups: Led by trained volunteers, individuals or families provide emotional support and understanding, coping and problem-solving strategies and form a supportive network. Family and Peer Education Courses: families and individuals are offered education courses to understand better mental health diagnoses, treatment, coping, and navigating public assistance and medical care. Community Education and Outreach: NAMI GC staff and speakers, including clinicians and subject matter experts, make informative presentations to professionals, the community, and the public on topics related to resources, diagnosis, treatment, recovery, and how to reduce the stigma surrounding mental health challenges. Information and Referral services: Individuals can call the NAMI GC helpline and email to support accessing community resources and navigating the mental health system. These programs offer valuable insights, resources, and perspectives to people living with a mental health diagnosis, their family members, and community members, helping them navigate the complexities of mental health with greater understanding and support. NAMI GC is working on building its reach to serve populations that have historically had poor mental health outcomes, including those in stigmatized racial groups, LGBTQ+ and communities of faith. Funding from Yardi goes a long way in helping NAMI GC meet the increasing demand for its programs and services. “NAMI Greater Cleveland’s Board of Directors, staff, and volunteers are grateful to Yardi’s employees...
