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

Daily Bread Food Bank, a nonprofit suported by Yardi Canada, was founded in 1983 in Etobicoke, Ontario. Unlike other food banks, Daily Bread is a member organization and delivers food to 207 meal programs at 132 agencies across Toronto, Etobicoke and Scarborough. One in ten people in Toronto rely on food banks, twice as much as in 2022. Daily Bread distributed nearly 28 million pounds of food in 2022-2023, a 50% increase from the previous year. Clients have doubled over the years since the pandemic, and in December 2023, Daily Bread had over 284,000 clients, surpassing previous records. “Before COVID, we spent $1.5 million yearly on purchased food.  Now, we are spending that each month. This past year, we spent $22 million on food, 14 times more than pre-COVID,” said Carol Eby, senior manager for corporate partnerships. Daily Bread hopes the Canada Disability Benefit Law will be approved in the federal government’s March budget. Since many of Daily Bread’s clients rely on the Ontario Disability Support Program (ODSP), this will help them out of deep poverty and be less reliant on food banks over time. Daily Bread ensures they have enough food to provide for those in need. “Our food budget is presently $22 million, and we anticipate this will increase this year to $29 million based on economic factors remaining status quo and the impact these have on an increase in food bank clients,” Eby shares. Funding from Yardi helps Daily Bread purchase food needed to manage the consistent increase in food bank clients it is experiencing. It also helps with research and advocacy efforts to provide foundational research from clients as to why they need to use a food bank. For food bank clients to decrease, Daily Bread strives for systemic change. “This important research is used to inform and educate the various levels of government on policies that need to be created to manage the various economic issues that are impacting the citizens of Toronto,” explained Eby. As poverty rates soar and the hunger crisis worsens in Toronto, Daily Bread recognizes donors like Yardi Canada, “We are so appreciative of the very generous support from Yardi Canada. We do not receive any government funding; we rely solely on corporate donations and individual giving,” expressed Eby. Elena’s Story Many clients of Daily Bread have had compounding medical issues, leaving them unable to work. Elena, a Daily Bread Food Bank client, was in this challenging situation. Health complications forced her to shut down her sales agency, and today, Elena survives on the limited income she receives from the ODSP and support from her local food bank. She is thankful for the food bank’s having fruits, vegetables, and proteins like meats and lentils so she can keep a balanced diet to help aid her health issues. “I see more and more people using the food bank every time I go,” says Elena. “The volunteers and staff are working hard to keep up. I know it is tiring, but I want to remind everyone what a difference they are making in people’s lives, people who are struggling to have food in their cupboards.” At Daily Bread, they are committed to supporting Elena and thousands just like her today who are facing extreme challenges to meet their essential needs. Volunteer Opportunities The Daily Bread Food Bank offers shifts on Thursday and Friday mornings from 8:30 am to 11:30 am and afternoons from 12:30 pm to 3:30 pm. A maximum of 20 Yardi team members can join them for the morning or afternoon food sorting. Please get in touch with Carol Eby at [email protected] to organize volunteer shifts. Find future non-profit profiles...

Yardi has again been named a winner of Glassdoor’s 16th Employees’ Choice Awards, honoring the Best Places to Work 2024. 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, work environments and companies. “We are humbled to be included with so many great organizations and by the consistent, positive support of our global employees, which resulted in this honor,” said Kevin Yardi, vice president at Yardi. “For over 40 years, we have achieved steady growth by taking care of our customers, employees and communities. If you are looking for a great place to grow your career, Yardi is hiring in many offices worldwide.” Find career opportunities at careers.yardi.com. Yardi is the only software company focused on real estate on the 2024 list. The company was previously honored in 2023, 2020 and 2018. “Work life is rapidly changing, and professionals are turning to Glassdoor to share their experiences about working for some of the most competitive employers in the world,” said Christian Sutherland-Wong, Glassdoor Chief Executive Officer. “The Best Places to Work award is a stark reminder of the power of Glassdoor, from arming professionals with career insights and real-time conversations about all things work and life, to providing employers with feedback to improve.” Employees’ Choice Award winners for the Best Places to Work 2024 were determined based on Glassdoor-approved company reviews submitted by U.S.-based employees between October 18, 2022, and October 16, 2023. During the year-long eligibility period, employers considered for the large list must have received at least 75 ratings for each of nine workplace attributes (overall company rating, career opportunities, compensation and benefits, culture and values, diversity and inclusion, senior management, work-life balance, recommend to a friend, and six-month business outlook). The final list is compiled using Glassdoor’s proprietary algorithm, led by its Economic Research Team, and considers quantity, quality and consistency of reviews. For the complete list of the Glassdoor Best Places to Work winners in 2024, please...

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...

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...

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...

“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...

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....

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...

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...