Employee Appreciation Day is “officially” Friday, March 1, according to the bonus holiday arbiters, but celebrations can be anytime. Let’s explore some initiatives that promote employee well-being and contribute to a healthier, happier workplace at any office. Mindfulness Practices. Employees can incorporate mindfulness techniques and practices into daily routines to reduce stress and enhance well-being. Mindfulness is about being aware and awake rather than operating unconsciously. Slowing down and paying attention to routine tasks helps be mindful in the workplace. Relaxation breaks are essential throughout the day to unplug from work. Be sure employees are taking breaks, which is beneficial for improved productivity. Healthy Office Snacks. Encourage healthier diets in the workplace with nutritional and delicious snack options. Donuts are not a healthy breakfast option for employees, though it might be fun for National Donut Day. Instead, provide fresh fruit like apples and bananas and seasonal fruits like peaches or watermelon. Provide drinks that do not have chemicals in them, like high fructose corn syrup or aspartame. Avoid snacks with hydrogenated oils or artificial dyes. Offer a variety of protein bars, trail mixes, and beverages like Body Armor that replenish the body with electrolytes and essential minerals. Trader Joe’s has a wide selection of natural, healthy snacks at affordable prices. These healthy options give everyone more energy, resulting in better productivity than butter, sugar and neurotransmitter disruptors.   Healthy Recipe Sharing. Foster a sense of community in the office by having everyone share their favorite healthy recipes. Not everyone will be on a keto diet or vegan, but that doesn’t mean employees can’t share healthy recipes. By sharing recipes, instead of just looking at recipes online, everyone can have first-hand knowledge of what works and what does not. After accumulating enough recipes, turn it...

Student housing’s consistently rising preleasing rate exceeded 50 percent of tracked inventory by the end of January 2024, well ahead of last year’s figure, according to the latest Yardi Matrix National Student Housing Report. Preleasing for the 2024-2025 school year reached 54.5 percent in January, marking a 710-basis-point increase since January 2023. A total of 22 markets were at least 75 percent preleased, while four exceeded the 90 percent rate. A combination of enrollment growth and decreasing new supply is driving the sector’s performance. Asking rates at Yardi 200 schools continued to climb to record highs, hitting $863 per bed in January. However, rent growth decelerated year-over-year, falling to 4.4 percent in January. “Rent growth patterns in student housing vary by market. Some operators push rates hard at the beginning of the leasing season to test the market and ease rent growth later on to fill the remaining beds. Slowing rent growth also reflects the fact that increases were high a year ago,” say Matrix analysts. Yardi Matrix forecasts that 46,285 new beds will deliver in 2024, marking a significant increase from the 35,610 beds delivered in 2023. Investment activity decelerated in 2023, with only 76 student housing properties changing hands. 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...

Each year, Yardi distributes philanthropic aid to organizations selected by its employees. Meet the Gwendolyn Strong Foundation—Never Give Up, founded in 2009 in Santa Barabara, Calif. This organization works to fill the gap needed to create real change and build a more inclusive future for those with disabilities. After raising $6 million over the last seven years, Gwendolyn’s Playground will break ground in 2024—Santa Barbara’s first fully inclusive playground. Using Universal Design and considering how society learns and grows, this sensory-rich environment removes today’s typical playground’s physical and social barriers. Here, everyone belongs and has opportunities to challenge themselves, play side-by-side and have fun together. These experiences foster life-long lessons of cooperation, empathy and kindness. The foundation will focus on raising the remaining dollars needed to build sports fields and park amenities to create such a park complex in Santa Barabara. “We are thrilled by the broad community support and belief in our mission to create a more inclusive future,” said Victoria Strong, founder and executive director at Gwendolyn Strong Foundation. “The vision to build Gwendolyn’s Playground alongside sports fields and accessible pathways and gardens is essential for meeting the needs of all community members and will create a true synergy for community activity.” Yardi’s generous donation helped fund the Little Inclusive Library, which fosters literacy and inclusion for all ages. It will also help to build a reading corner in the library into the top story of the Magical Tree play structure. While lounging on soft caterpillars and ladybugs, children can peruse a collection of children’s books celebrating diversity, friendship, kindness and disability. Children’s books are an excellent way to introduce normalizing differences and start conversations and education.  The foundation also works with several award-winning disabled authors on an author visitor series in...

Apple released its Apple Vision Pro with mixed-reality cutting-edge technology. It is seamlessly blending digital content with physical space. But will it be a hard sell to most? The price alone is quite hefty. Let’s delve into some pros and cons of this latest Apple invention. Let’s start with the pros of Apple Vision Pro. Apple Vision Pro is designed to customize the size of your head. Those who wear glasses can get prescription lenses to insert. Instead of having a device and always hurting the neck looking down, Apple Vision Pro navigates by using eyes, hands and voice. Simple hand gestures or voice commands are used to scroll and select. Move the screen around the room to put on the ceiling or immerse yourself completely. Photos on Apple Vision Pro are outstanding! The room dims around the picture, allowing the complete focus of the image. Panoramas become life-sized! Spatial videos peer as if you were back in the moment. Movies and TV scale the screen to take over the space around you. When working, create your workspace with various tabs and documents pulled up where you want around you. Music becomes a 360-degree experience with audio pads positioned close to the ears to deliver spatial audio while keeping awareness of the surroundings. Environments is a featured app that transforms the space so apps can extend beyond the room’s dimensions. Choose from a selection of beautiful landscapes or a personal movie theater. Mindfulness is now entirely immersive. A new app for Apple Vision Pro specifically is Dinosaurs, which allows you to experience life-size prehistoric dinosaurs and their friends. Now for the cons of Apple Vision Pro. The price is quite extreme, and even more than Apple’s latest Mac Book Pro, Apple Vision Pro is...

Decision fatigue is real. Each of us makes around 35,000 decisions every single day. From what we’ll wear and which way we drive to work to what to eat each meal. All these decisions lead to fatigue. Many billionaires know this secret and limit what they must decide each day. Amazon founder Jeff Bezos says that to do his job successfully, he must make only three or four critical daily decisions. Being your own boss isn’t about making decisions. It’s about making fewer but more important ones so that it does not lead to burnout and you can make the highest quality choices possible. Plan of Action. If it is not on the schedule, then it does not exist. Prioritize everything, even if there are repetitive priorities. Design a schedule that maximizes HABU (highest and best use of time). Meal planning has become popular because daily meal plans make life easier. Freedom is not deciding what to do now. Freedom is always knowing what to do and where it will lead. That’s power! Morning and Night Routines. Remember the phrase, “mind over money?” well, in this case, it is very accurate. With the right mindset, all the rest will come. Mindset begins first thing in the morning, which starts the night before. Start by sleeping at the same time every night and waking up at the same time every day. Lay clothes out the night before, make any lunches for the next day and wake up knowing exactly what to do first. Exercise, meditation and breakfast might be essential priorities, but schedule them to learn when they will be done. It is critical to consider these choices now and then turn them into a routine. Lockdown routines. Otherwise, they will lead to unnecessary energy...

Yardi’s global offices make essential contributions to property management and investors worldwide. Meet team member Reginald Singleton, an associate technical manager on the Breeze client success team in Atlanta, Georgia. Singleton will celebrate his second-year anniversary here at Yardi next month. He spends much of his time at work assisting clients in troubleshooting their issues with Breeze and Breeze Premier. He assists clients through a chat window, but some clients will call for help instead. He also helps his team when they are in need or have questions. Singleton is constantly introduced to new challenges and problems that he helps clients overcome. “When I can deliver a solution to my clients or even my teammates, it truly makes me happy,” expressed Singleton. Contagious Company Culture Singleton enjoys and appreciates how willing everyone in the office is there to help. Despite work being sometimes stressful, everyone in the office knows how to make the day fun, “The Yardi Culture is contagious, and I love it!” Singleton has always felt welcomed and appreciates how Yardi upholds its mission statement of taking care of clients, employees and the community. Before graduating college, Singleton was a manager at Taco Bell. Though he had experience in IT and accounting, he felt that he might not be a great fit at Yardi, but shortly after starting, he realized that Yardi provided employees with helpful tools and helped him grow, not to mention his colleagues who helped in that growth. “I felt so comfortable here when I first started. Yardi truly cares about your growth and success so that you will do fine regardless of your previous work background! Also, you can choose from many different career paths within the company as well,” explained Singleton. Yardi is hiring globally! Interested prospective...

Yardi Matrix’s Q1 2024 Self Storage Supply Forecast suggests an expansion in near-term supply, while the coming years will show a decrease. The last quarter of 2023 registered an increase in construction starts and the under-construction pipeline, influenced by an uptick in new development. Consequently, the near-term forecast for 2024 and 2025 has been upped by 10.9 percent and 12.5 percent, respectively. Meanwhile, the forecast completions for the years 2026 through 2029 have been reduced in the latest update. Supply growth for 2026 and 2027 is expected to be around two percent of stock representing some 38 million NRSF. “In the second half of 2023 the number of abandoned and deferred projects in our database has noticeably increased, growth in both the planned and prospective pipelines has stalled and the year-over-year change in street rates was negative in 2023,” say Matrix analysts. In the fourth quarter of 2023, the planned pipeline rose by 1.43 percent, while the prospective stage remained flat throughout the year. The number of deferred projects grew 44.5 percent on an annual basis and the number of abandoned storage properties increased 104.2 percent compared to 2022. Review the new Self Storage Supply Forecast 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 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...

An age-old conservation practice is attracting renewed interest in this era of drought and unpredictable precipitation: rainwater harvesting, the process of capturing, diverting and storing rainwater for later use for residential use, landscaping, fire protection and other purposes. Valued at $890 million in 2021, the global rainwater harvesting system market is projected to top $1.6 billion by 2030, with North America accounting for more than a third. Rainwater harvesting today ranges from simple rain barrels to elaborate capture and storage systems complete with pumps, piping and filtration elements. In whatever way it’s practiced, rainwater harvesting is “one of the best examples of green building practices,” says business research firm Technavio. “Complex installations are best left to professionals knowledgeable about restrictions and permit requirements, but if your goal is a free water source for lawn, garden and other activities, harvesting rainwater is fairly straightforward,” adds The Spruce, an online source for home decorating and repair. A 2,000-square-foot roof can collect about 1,100 gallons of water from just one inch of rain. With the average American household using around 300 gallons per day, that inch could supply a household with water for almost four days. The two principal types of rainwater collection are surface runoff, which funnels water from a flat surface into a storage container, and rooftop runoff, which involves positioning a barrel or other storage container beneath a building downspout. Harvesting components include gutters and other channeling conduits, filters that remove debris, water level monitors and pumps. Additional filtration and disinfection, along with any required local or state government permits, can product potable water. While rain harvesting is most commonly used for residences, “the global non-residential rainwater harvesting systems market is expected to grow at a moderate rate due . . . the non-residential...

Valentine’s Day sparked a season of caring for our senior living clients, who have been sharing sweet stories on their blogs and social media platforms. That inspired us to highlight the stories here on The Balance Sheet — we hope you enjoy! Yardi senior living clients celebrate Valentine’s Day From prepping homemade cards to sharing their favorite memories, residents across Pacifica Senior Living communities have participated in a variety of Valentine’s Day activities. One community even crowned a Valentine’s king and queen — a couple who has been married for 65 years! You can read all about it in Pacifica’s recent blog post (and see the lovely photos they’ve shared). Next up is Watercrest Senior Living, who took to social media for sharing Valentine’s Day stories. Their endearing caption (featuring a wonderful message, “love knows no age at Watercrest”) was paired with photos of resident couples enjoying each other’s company, smiling at wedding photos and more. See the post to check out the photos — they’re bound to bring a smile to your face. There was no shortage of caring events at Brightview Senior Living this month, including a sweethearts dance, a parade and a gathering featuring a Valentine’s-themed slideshow. Shared by Argentum, the events shed light on Brightview’s commitment to showing the power of love at any age. Dori Ray, corporate director of vibrant living at Brightview, said the following: “It is more than valuable, it is vital to show that love is alive. Emotional connections and companionship don’t change just because someone is considered ‘old.’ For those living in a senior community it is not their last chapter — just the next one.” Also featured in Argentum’s article is Sagora Senior Living, who sparked happiness in their communities with a creative competition:...

The multifamily market was stable at the start of 2024, despite the pressure of a supply boom in some markets, according to the latest Yardi Matrix National Multifamily Report. The average U.S. asking rent remained flat at $1,710 in January for a 0.5 percent year-over-year increase, while occupancy decreased 50 basis points year-over-year in December, to 94.6 percent. Rent growth remained highest in the Northeast and Midwest, while four of Yardi Matrix’s top 30 metros posted rent declines of three percent or more year-over-year. Occupancy was positive in one market and remained flat in two. Rent growth will be impacted by supply in 2024, as Yardi Matrix forecasts a record 540,000 units to be delivered this year, and another 460,000 units in 2025. “Another year of weak growth is expected in 2024 largely due to the rapid increase in deliveries that stems from the sector’s strong performance, high liquidity, and favorable treatment in the 2017 tax bill,” say Matrix analysts. New supply is inconsistent across the map, with the highest amounts in fast-growing tertiary and secondary markets, predominantly in the Sunbelt and Western regions. There, rent growth will likely remain tepid. Meanwhile, the weak supply in markets in the Northeast and Midwest is expected to keep rents rising. Single-family rentals outperformed multifamily last month, with the average rent up $2 to $2,130 in January, a 1.5 percent year-over-year increase. The occupancy rate in December stood at 95.7 percent, up 10 basis points year-over-year, a sign that demand remained robust. Gain more insight in the new Yardi Matrix National Multifamily 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...

Each year, Yardi distributes philanthropic aid to organizations selected by its employees near the company’s global offices. Today, we introduce Explore Ecology, founded in 1990 in Santa Barbara, California. Explore Ecology (EE) promotes leading environmental education and artistic expression. Through their programs, Explore Ecology reaches over 40,000 community members. From teaching students how to garden to organizing beach cleanups and creative reuse art workshops, Explore Ecology educators provide hands-on learning experiences that empower the community to protect and preserve the environment. Learn more about these programs: Explore Ecology School Gardens: beautiful outdoor classrooms on school campuses where children can explore nature, learn to garden organically and see in real life what they read about in science class. Art from Scrap: A creative reuse store that diverts discarded and reusable materials from landfills at affordable prices. Through its school materials program, this program also offers low-cost arts and crafts supplies to teachers and schools. Explore Ecology Makerspace: located above Art from Scrap, filled with technology, sewing machines, and arts and crafts supplies used for the community to join in and invent, create, imagine and collaborate. Watershed Resource Center: located at Arroyo Burro Beach, students and visitors learn how to keep creeks and oceans clean and join monthly for beach cleanups that remove thousands of pounds of litter annually. Environmental Education: In-class lessons and field trips are available for public and private schools, community groups and camp programs and are accessible to most Santa Barbara County schools, depending on location. Funding from Yardi helps with core support to continue to bolster entry-level salaries for garden and environmental educators and reuse store staff. EE recently hired a new full-time development director, hoping to reach more funding support and foundation grant awards to serve environmental education better to...

Yardi Employee Profile Yardi’s global offices make essential contributions to property management and investors worldwide. Meet Octavio Lizarraga Pescador, associate account manager for the Yardi Breeze CSD team, who hails from the Santa Ana office. Meet Octavio Lizarraga Pescador Octavio Lizarraga Pescador has been working at Yardi for almost two years. His work hours consist primarily of directly assisting clients with Breeze and Breeze Premier implementations. Pescador hosts about four one-hour Zoom meetings with clients daily, in which he assists them with setting up the software or provides training on how to use some of its functionalities. When he is not in meetings, he writes up recaps for clients to summarize what was covered on the previous call or is testing some client inquiries. Along with assisting clients, he also attends internal training, strengthening his understanding of Breeze and Breeze Premier providing better insights for his clients. “I believe the functionality Breeze brings to our clients in terms of being able to manage their properties more efficiently plays a very important aspect for everyone involved,” says Pescador. Pescador believes that the work everyone does at Yardi impacts many individuals. From the delivery of financial reports to critical real estate decision-makers to the urgency of response whenever a tenant submits a new maintenance request through the tenant portals, Yardi’s products provide a solution to many essential property management needs. “This is what I enjoy most about my work at Yardi. I enjoy assisting and playing a very important role in implementing Yardi’s solutions for our clients,” explained Pescador. Positive Vibes Only Ever since Pescador joined Yardi, he has felt a positive and assistive corporate culture from both leadership and colleagues. Everyone is so willing to help with any question needed. If there is a functionality...

Land might become more scarce amid rising seas and climate change. Some experts project that portions of cities such as Miami, Bangkok and Venice, Italy, could be largely submerged within a few decades. Can artificial islands built in lagoons, lakes or on the open sea alleviate the effects of climate change – or accelerate them? Artificial islands aren’t new – they were used in ancient Egypt, the Aztec Empire, England and elsewhere for agricultural and ceremonial purposes. In modern times, artificial islands are often created through land reclamation. Existing islands, rocks or coral reefs can serve as the base, with cement poured on top of sand from the seafloor to enable construction. Artificial islands’ applications range from mineral extraction and harbors to resorts, ecological preserves, military bases and various commercial activities. Diverse applications Prominent examples include Ellis Island off New York City; the six Venetian Islands off Miami; New York’s Little Island, built on 132 concrete columns on the Hudson River and which includes park space and an amphitheater; the “Palm Tree Islands” off the coast of Dubai; and Kansai International Airport in Japan, the first such facility to be built completely on an artificial island. Marker Wadden, a 3,200-acre archipelago in the Netherlands built from lake floor sand and mud, provides a protected environment for plants, fish, birds and insects. A man-made island in Qatar that hosts residences and hotels spans nearly 4 million square meters. China is creating islands in an expanse of thousands of acres in the South China Sea. Seeking a nuanced approach Some observers regard increased use of artificial islands as inevitable. “New water housing solutions will become increasingly common, if not absolutely necessary, and artificial islands will play a key role in the climate challenge,” according to Domus,...

Yardi’s global offices make essential contributions to property management and investors worldwide. Today, meet Philip Suh, associate technical account manager with the Residential CSD team. Meet Philip Suh Philip Suh has been working at Yardi for over a year and a half. Suh spends his workdays answering and catching up on emails in the mornings, participates in daily scrum meetings with his team to discuss cases they are working on that day, and finishes up with client meetings in the afternoon hours. Suh currently works on Positive Pay and Interface cases with the client and a third party vendor or bank. “I love helping people set up and implement new things into their Voyager environment,” said Suh. “I also really enjoy being able to help my teammates out and want to try my best to be approachable by my teammates or other people!” Suh feels the reciprocity at Yardi among his teammates, which he is very grateful for. “I love that everyone is so open to lending a hand, especially with unfamiliar topics. I have never felt that I was not welcome to ask a question on my team,” Suh shares. Work-Life Balance Suh appreciates the work environment at Yardi and likes the work-life balance. The direction from his Team Lead and manager has given him more opportunities, which he acknowledges. “I’m really happy with my work-life balance here at Yardi, which allows me to have fun and be my own person when I’m not working. I think ensuring that not letting your job title define you is really important,” Suh expressed. Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. Sweet Love Suh spends his time outside the office with his lovely wife, Camill, eating good food and sweet...

A large amount of multifamily housing supply coming online is expected to suppress national average asking rent growth this year, according to a new special report from Yardi Matrix. While national average asking rents grew by 1.6 percent in 2023, the new supply will serve to depress rent appreciation this year “in many of the markets that saw explosive growth during the pandemic.” Some markets could end the year with slight negative growth. Stronger growth is anticipated in the working-class Renter-by-Necessity segment, as most of the new supply comprises upscale Lifestyle units, the report adds. Pandemic rent growth boomtowns including Las Vegas; Boise, Idaho; Phoenix; and Austin, Texas, saw the largest rent declines in 2023. Medium-size cities with large universities such as Madison, Wis., Knoxville, Tenn., and Syracuse, N.Y., were among the top performers. Another key story in 2024 is the continued compression in the spread between in-place rents and asking rents. Most markets still have a large gap between the two, but it will “continue to shrink as asking rent increases remain muted in the near term,” according to the report, which also predicts that the national economy will “slow significantly for two or three quarters.” The large volume of supply slated to come online in 2024 will take time to be completely absorbed. Afterwards, rent growth will return to the typical 3 to 4 percent annual increase in asking rents. Read Matrix’s analysis in the new Multifamily Rent Forecast Update. 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...