To help professionals across senior living prep for industry changes ahead, we joined Senior Housing News (SHN) last month to host an insightful roundtable webinar — Senior Living in Flux: C-Suite Changemakers Discuss a Transforming Industry! Featuring experts Sarabeth Hanson of Harbor Retirement Associates (HRA), Earl Parker of Commonwealth Senior Living, Sevy Petras of Priority Life Care and Yardi Director of Healthcare Solutions Fil Southerland, the conversation offered tangible ways to navigate change expected for 2024. Read on to discover the webinar’s key takeaways on topics crucial to senior living today: Major ways the senior living industry is changing The importance of the middle market How to meet the needs of a new consumer Key ways technology is shaping the industry’s future 2023 Changemakers + Yardi expert share advice and insights When asked where they see the industry changing, the panelists shared a range of answers. Sevy focused on the power of technology and data, stating the two will push the industry forward come 2024. For Sarabeth, change is centered around serving a new consumer — baby boomers — as well as senior living staff, who now have different expectations than years prior. Earl brought the conversation back to technology, emphasizing the small margin for error in today’s industry and how that’s driving a focus on data. He spoke to Commonwealth’s success with Yardi Senior IQ — our business intelligence powerhouse — in harnessing real-time data to make sharper, informed decisions. Fil relayed Yardi’s focus on digital transformations and accelerating complex workflows to meet the needs of today’s communities. Sarabeth chimed in to share more positive experiences with Yardi’s evolving solutions, focusing on the benefit of using fully integrated tools that unite on a single platform. Shifting gears to speaking on the middle market,...

In 2022, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will bring you the stories of those organizations and insight into how they aid their communities. Today, we introduce Page Youth Center (PYC), founded in 1984 in Santa Barbara, Calif., a youth center for children with a broad range of sports, fitness, wellness and recreational activities, all for a reasonable cost. The youth center is a safe and friendly environment for children and their families. They also offer recreational programs for adults in the morning and evening, including badminton, pickleball, jazzercise, open gym, and adult basketball leagues. PYC focuses on providing an excellent Blenders Basketball experience to 1000 youth participants and continues to grow and expand its Spring volleyball program for both boys and girls. The center also plans to offer Summer Sports Camps throughout the Summer break and provide scholarships to those in need, specifically for those in Old Town Goleta. In March 2024, PYC will have its annual gala to raise awareness and funds for these programs. Funding from Yardi helps to keep its program costs as low as possible and provides excellent programming to the youth in the community. Donations are used in various ways through operations, facility upgrades and scholarship funds. “Thank you for the continued support of the Page Youth Center and our Mission to Build Character Through Youth Sports,” said Aaron Martinez, executive director of Page Youth Center. “Your generosity is greatly appreciated and assists us in offering the best programs we can for our community’s youth!” Blenders Basketball League With 1,000 youth participating this season and over 250 volunteers, the Page Youth Center prides itself on the Blenders Basketball League program. Volunteers help with coaching, scorekeeping and team parents. Over...

Yardi Dubai supports the Al Noor Training Centre for Persons with Disabilities as part of the company’s global program of philanthropic support for nonprofits and NGOs. Established in 1981, Al Noor provides special education, care and services to those with neurodivergent challenges such as Down Syndrome, Autism, Cerebral Palsy or a combination of conditions. Among its successes, Al Noor has prepared up to 100 students for work placement in the community. Al Noor staff have developed a curriculum for students that significantly impacts lives and helps them be independent members of the community. Al Noor plans to establish additional training and services that will enhance and develop the lives of its students. “We wish to work closely with corporations like Yardi .. to partner with us on our various projects,” said Apple Castaneda, senior sustainability and community relations executive for Al Noor.   Al Noor charges subsidized fees to parents or, in some cases, the total tuition fees for parents who cannot afford to pay the fees. They have a no-rejection policy. “We do a holistic approach to giving our students the maximum quality of training and education to maximize their potential,” said Castaneda. Funding from Yardi helps Al Noor obtain resources through financial support, ensuring the organization can maximize potential care to students. Yardi has consistently provided sustainable financial contributions to the center, enabling the organization to expand its educational programs for children with determination. This has enhanced individuals’ learning experience and skill development under Al Noor’s care. “The Centre is very thankful for the continued support of Yardi, as it is helping us fulfill our mission of giving an equal opportunity to our students of determination and being out there in the community,” shared Castaneda. #TeamYardi and Celebrating World Cerebral Palsy Day Yardi employees...

Slowed demand for self storage continues to drive street rates lower, reports the new Self Storage National Report from Yardi Matrix. Annual street rate growth stayed negative in October. The average annualized same-store asking rate per square foot for the main unit types and sizes averaged $16.77 nationally last month, marking a 4.2 percent drop from the average recorded in October 2022. Street rates also remained negative on an annual basis in October in nearly all of the top metros. Combined same-store rates for non-climate-controlled units fell in all but one of the markets tracked by Matrix year over year, while asking rates for same-store climate-controlled units decreased in all of the top metros. “Elevated residential mortgage rates have slowed home sales, reducing population mobility, a major driver of storage demand. As a result, storage operators continue to lower asking rates to drive new rental demand,” states the report. In-place storage rents continue to trend upwards, supported by existing customer demand, helping bolster rental income for operators. In addition, the labor market remains relatively strong and inflation is slowing, which will benefit the sector as it helps boost the financial confidence of new and existing customers. Nationally, Yardi Matrix tracks a total of 5,006 self storage properties in various stages of development, including 864 under construction, 1,940 planned, 673 prospective, 1,457 abandoned and 72 deferred properties. Yardi Matrix also maintains operational profiles for 29,234 completed self storage facilities in the U.S., bringing the total data set to 34,240. Gain more insight on self storage performance. 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...

Today’s featured nonprofit is Operation Kindness, from Carrollton, Texas, founded in 1976. Operation Kindness is an animal welfare organization making the world a kinder place for animals and people who love them. This September, Operation Kindness expanded and opened the Lifesaving Partnerships Hub. Funding from Yardi fund Operation Kindness’s mission to serve animals in Texas and where the help is needed most. “Operation Kindness is so happy to have support from partners like Yardi. Your support makes our work possible,” said Lilly Watson, marketing manager of brand and communications for Operation Kindness. Thriving Pups Last summer, Operation Kindness took ten dogs surrendered to the Human Society of the United States in an animal cruelty case. All dogs were highly malnourished, gravely underweight and suffering from life-threatening heartworm disease. A year later, after the help and care of Operation Kindness, their staff and volunteers, these dogs are thriving, happy and healthy with their new owners. Read about Jazz, Jay and Bruce and their stories and testimonies from their owners.  Yardi Dallas and Irving Office Gathering #TeamYardi of the Dallas and Irving offices gathered recently for a puppy and kitten-loving fun-filled day. Unfortunately, the weather didn’t cooperate, but that didn’t stop them. The office made a slight adjustment and hosted the fur babies inside. Each kitten and puppy were given much love and attention that day. A few employees are now in the adoption application process, hoping to have a new friend for the holiday season. To spread some joy this holiday season, consider donations to Operation Kindness. You can make a tax-deductible gift online here. Find future non-profit profiles...

From Nov. 1-3, NMHC OPTECH brought together the brightest minds and the latest innovations in the multifamily industry. Las Vegas was the hub of important conversations surrounding the present and future of real estate technology. Here’s a quick recap of the event, including more information about the new AI-driven, human-centered solutions we recently announced.  Meet your maestro, Yardi Virtuoso Whether you went in person or were staying updated from the sidelines, one innovation stood out amidst the bustle of the conference: Yardi Virtuoso. By weaving artificial intelligence across the Yardi platform, you’re not just streamlining your processes — you’re transforming workflows. Virtuoso is your gateway to a more efficient future. It offers an AI-powered agent that seamlessly integrates with Yardi solutions, revolutionizing your workflow through the power of generative AI. This new tech also leverages machine learning, natural language processing and more powerful capabilities to help solve problems in your day-to-day and drive your business forward: Tap into the power of an AI-powered assistant to do more with less – effortlessly track tasks, generate reports and more with a simple voice command Significantly reduce invoice processing time and cost Improve prospect and resident communications with a bot that can chat, text, email and call It’s the future of AI in real estate. Virtuoso doesn’t just analyze, it harmonizes — bringing together disparate, manual parts of your workflow and creating an AI-powered, human-centered symphony. Stay updated. A medley of insights Yardi leaders contributed to pivotal discussions at the event, delivering insights on technology’s evolving role within the industry through the following sessions: Yardi Vice President Michael Tuer participated in the “Multifamily Technology Spending and Staffing” panel, offering insights on necessary adjustments the industry must make to navigate an increasingly tech-centric future. In “Operationalizing Resident Fee...

The PHA industry is special. There’s a level of caring and personal commitment to helping others that rises a notch in comparison with other real estate verticals. Exhibit A: Grant Burnham. Grant joined Yardi a few years ago. He not only brought with him decades’ of PHA and affordable housing finance experience but also a positive attitude and a genuine appreciation for the work PHAs do for their communities Let’s find out more about Grant, Yardi’s PHA clients and the company’s solutions. Grant, where do you call home? GB: Hello! I am a Colorado native, and my home base is Yardi’s Denver office. What hobbies do you enjoy in your free time? GB: I am an avid pool player. I have been playing in leagues for almost 15 years and even got to participate in team world championship tournaments three separate times in Las Vegas. I’m always up for a game or two (or more) whenever I get a chance! How long have you been with Yardi? What is your current position? GB: I’ve been with Yardi since February 2020. My role is a team leader and solutions consultant. That means I work with a great group of sales professionals dedicated to helping housing agencies solve challenges and serve their residents, landlords and participants with innovative Yardi technology. How did you get started in the PHA/affordable housing industry? GB: My journey in the housing industry began in 2008 when I joined a local PHA in the Denver area. I was there for about three years before I accepted a position with the Colorado Housing and Finance Agency in 2011. I remained with CHFA until 2020 when I began working at Yardi. Throughout my career, my roles in the housing industry have included Occupancy Specialist,...

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. In 2022, Yardi offices supported more than 350 nonprofits worldwide. We hope you enjoy the stories of those organizations and insight into how they aid their communities. Food banks differ from food pantries, soup kitchens or emergency shelters because they supply the food to these organizations and then distribute it directly to those in need. Care and Share Food Bank for Southern Colorado was founded in 1978 in Colorado Springs. Care and Share provides food to 291 partner pantries, shelters and schools throughout Southern Colorado, allowing these partners to stretch their dollars for their best work, such as job training, housing assistance, medical care and other critical services. Over 23 million pounds of food was provided to the community seeking support in the past year. Care and Share is an affiliate of Feeding America, the largest domestic hunger relief organization. Despite five other Feeding America food banks in Colorado, Care and Share is the only food bank dedicated to serving the state’s southern half. During the height of the pandemic, the generosity of the southern Colorado community bolstered Care and Share to serve those needing food assistance for the first time. “Care and Share is now dealing with the after-effects of the pandemic and is seeing even more need than we saw during the pandemic,” said Joan Selman, director of major gifts at Care and Share. The following areas are the most significant causes of increased need: Economic Conditions: Though inflation numbers have decreased, food prices are still at an all-time high. This affects low-income households whose food costs typically compromise a third of their income....

Multifamily construction starts increased slightly in Q3 2023, and should have a positive impact on future deliveries, states the latest Multifamily Supply Forecast from Yardi Matrix.  Construction starts remained relatively robust in the first half of 2023, and the under-construction pipeline increased 7.6 percent in the third quarter. As a result, the Q4 2023 supply forecast update has increased forecast completions 5.8 percent for 2024 and 6.2 percent for 2025. For multifamily markets tracked by Yardi Matrix, there are currently 1,223,601 units in the under-construction pipeline. Of these units, 479,634 are currently in lease-up, roughly in line with the trailing six-month average of 483,000 units but some 15.9 percent above year-ago levels. Most of these units will be completed this year or in the first half of 2024. Multifamily construction starts held at a relatively high level through the first half of 2023. As a result, the number of under-construction units not in lease-up continues to increase. Currently there are 743,967 units, a 16.2 percent quarterly increase and a 35.3 percent increase over year-ago levels. These units will most likely be completed in 2024 or 2025. Find more insights on forthcoming multifamily supply 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...

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. In 2022, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will bring you the stories of those organizations and insight into how they aid their communities. New Beginnings is a nonprofit founded in Santa Barbara in 2000, continuing the work of the Santa Barbara Counseling Center. This organization provides psychological counseling and housing assistance services to people experiencing homelessness, as well as low-income individuals and families throughout Santa Barbara County. New Beginnings serves over 2000 people each year with various programs and centers: Counseling Center The Safe Parking Shelter and Rapid Rehousing Program The Supportive Services for Veterans Families Program The Life Skills Parenting and Education Program. “In the spring of this year, we underwent a major transition and moved into a fabulous new space. The new space has allowed for all four programs to be housed under one roof, improving the client experience by streamlining inter-agency collaboration and strengthening our wraparound services,” said Shana Hill, community engagement and programs specialist for New Beginnings.   New Beginnings plans to expand telehealth services with improved marketing and outreach efforts. They are working to expand the Safe Parking Program throughout the county and increase the number of lots in Santa Barbara, Goleta, Carpinteria and Lompoc. In addition, they are working on publishing a second edition of the Safe Parking Program manual to take steps toward establishing the Safe Parking Program model as an evidence-based practice. It will also work to expand the number of community partners for the Life Skills Parenting and Education program and increase community involvement for houses for...

Yardi’s global offices make essential contributions to property management and investors worldwide. Today, meet Sy Pham, associate technical manager on the Voyager Client success team out of the Santa Ana office. Meet Sy Pham Sy Pham just marked his first anniversary at Yardi in August. He has a passion for problem-solving and working with clients, so he’s greatly enjoyed this role. Pham wanted to work for a company where he could tackle complex problems but work with clients using Yardi’s products so he could see the impact he was making. “The last year with Yardi has been everything I’ve been looking for in a company,” says Pham. Pham spends his hours on client calls and training. When not on calls, he is researching questions that came up or preparing for the next call. He also regularly meets with his team to strategize on problems or do team-building exercises, making his experience at Yardi remarkable. Problem-solving Skills Working with commercial clients has been a challenge for Pham yet rewarding. He enjoys the people at Yardi, both internally and client-facing. He finds Yardi as a workplace that challenges him with tough problems, but the people he has met along the way make it all worth it. “I have never experienced a work culture so dedicated to helping clients and each other. It’s been fun collaborating with individuals from different teams and being able to solve problems together. I love how I can introduce myself to anyone and ask if they can lend a second opinion on a difficult case. The overwhelming support I always receive is inspiring. I hope one day I can lend a hand to the new folks that join like others has done for me,” said Pham. In his personal and work life,...

When you lack efficient leasing tools, turning senior living prospects into residents can be challenging. But how do you identify the best tools? Which solutions are built to last? Paper-based processes aren’t optimal due to the risk of manual errors and lost documents. Not to mention, they can be costly. Electronic leasing tools are much more efficient, especially when you opt for a fully integrated solution likes ours. With tools across the Yardi Senior Living Suite connecting on a single platform, you’re set to simplify move-in workflows, reduce expenses and make the prospect-to-resident journey seamless. To show you just how valuable electronic leasing tools are, we have a helpful cost analysis checklist in store. Learn more and get a glimpse at what the checklist offers below. What is electronic leasing? As part of an overall set of leasing tools, electronic leases are a digital version of the rental contract you already know. They replace paper leases and ancillary forms with secure, digitally stored files. But keep in mind that with the Yardi Senior Living Suite, you access more than just digital documents. We offer integrated electronic leasing tools that streamline every step of the move-in process. In short, you can easily generate custom leases in RentCafe Senior CRM, mark them for electronic signatures in RentCafe Senior Living Portal and automatically store completed documents in Voyager Senior Housing. Without electronic leases and an integrated workflow, on the other hand, you face: Perpetual operational costs Hours spent generating leases and ancillary documents Lost prospects who wish to sign forms remotely A halted sales cycle and decreased move-ins And more How to compare costs with our checklist Now that you know more about electronic leasing, we invite you to review our cost analysis checklist! It’s an intuitive...

#TeamYardi had a wicked good time celebrating Fall and spooky season this year. The Atlanta office festivities started with a costume contest. The winners of the contest were as follows: Best: Static Shock costume, Amber Brown Funniest: Burger costume, Jonathan Singleton Scariest: Dr. Facilier costume, Gerald Valentine Most Creative: Frida Kahlo costume, RheaAnn Koppelman Best Group: Mario Party costume, Ciro Vellino, Tyler Edwards and Spencer Hardiman Those who participated brought some fun to the office and turned a typical Wednesday into an enchanted Wednesday. For lunch, three food trucks were provided with various foods for the office—Yaardie Eats, The Mad Greek and The Loaded Taco. Games were provided, and even a special guest was in attendance after making his rounds at the Atlanta HBCU scholarship programs Yardi supports. Jay Shobe, senior vice president, was impressed with Georgia’s southern hospitality. At headquarters in Santa Barbara, the office had a Fall Fest for Yardi employees and their families. The afternoon consisted of a pumpkin carving contest with pizza and gelato. The kids got dressed up and enjoyed a corn maze with trick or treating. What fun office collaborations for the end of...

Ready to unlock staff potential, reduce turnover and drive onboarding success? You need an interactive technology solution that offers personalized learning experiences — but not all solutions are built the same. In order to revolutionize the way you train and onboard staff, you need a multifunctional learning management system (LMS) equipped with unique, cutting-edge functionality. Yardi Aspire is just that — an easy-to-use LMS that offers more than your average solution. It takes your training and onboarding processes to the next level with unmatched functionality and usability, all within the Yardi platform your teams are already using. Sound interesting? Read on for a closer look at what makes Yardi Aspire a differentiator in the LMS space. What sets Yardi Aspire apart? Customizable programs and resources: Supplement your existing training program with an exclusive Yardi product that’s completely configurable. Access complementary webinars taught by product experts, dozens of personalized learning plan templates, searchable product information libraries and over 1,300 self-paced courses that are highly engaging and customizable. Enjoy a comprehensive catalog with hundreds of compliance, safety, professional and personal skills training. Aspire’s instructional design team uses innovative techniques and tools to maximize learner engagement, all while providing hands-free skill evaluations to optimize training effectiveness. Heighten engagement with our related training feature, which enables you to embed smart training links within the Yardi solutions your employees use every day. YardiOne provisioning and smart tiles: Ensure employees possess the necessary skills to succeed before gaining access to the production environment. Utilize YardiOne smart tiles to automatically provision Yardi software access based on learning completion data. Integrated mentorship module: Avoid purchasing third-party party software for mentorship. Upgrade your program administration from Excel to your centralized LMS where supervisors, HR staff and trainers can partner with mentors to bolster...

Yardi is showcasing new solutions at the 2023 NMHC OPTECH Conference & Expo, including the latest generation of Yardi Voyager, an artificial intelligence (AI) platform and a Microsoft® Power BI connector. The event is set to take place Nov. 1-3 in Las Vegas, Nevada, and is a yearly gathering for leading figures in multifamily operations. Yardi is proud to be a longtime supporter of NMHC OPTECH and is once again a Platinum Sponsor for the event.  Booth 105 will showcase new AI-powered and human-centered technology from Yardi. This includes solutions designed to help operators “compose their future,” leveraging the combination of one connected system and AI to drive performance and maximize efficiency.  Eventgoers can schedule demos with the Yardi team at the booth to see the new solutions for multifamily, including: Yardi Voyager 8, the latest generation of the industry-leading platform, now with a fresh update to further enhance the user experience. Yardi Virtuoso is an AI platform built to complement Yardi solutions. It leverages AI, large language models and machine learning to drive operational efficiency between people and technology. RentCafe CRM IQ, a customer relationship management system that provides full visibility into prospect, applicant and resident workflows, in addition to enabling centralized leasing and operations. RentCafe Chat IQ, an automated attendant that answers prospect and resident questions via chat, text, email and calls. Yardi Data Connect, a secure data feed from Voyager to Microsoft Power BI that allows more customization capabilities and inclusion of third-party sources, along with preconfigured dashboards. Book a meeting to see all new solutions up close during the conference or join an on-demand...

Halloween is around the corner and got us thinking some spooky thoughts—the market for “probably haunted” real estate. In New Orleans, “haunted” properties are so common that some properties include “not haunted” tags on their For Sale signs. Let’s delve into some practical advice for individuals interested in purchasing a potentially haunted property. In a recent article, a funeral home in Massachusetts was listed. Instead of the traditional “for sale” sign, the real estate agent decided to pique the interest of paranormal enthusiasts and staked a sign outside that read “probably haunted.” Is the property haunted? Nobody can know for sure, but given the history, it’s a possibility. Every state differs on what is to be disclosed to buyers. Material defects such as a leaky roof or older HVAC systems are disclosed, but life gets a bit more interesting when the house’s flaws may be tragic, gruesome or paranormal. A murder-suicide inside the house is considered a psychological stigma and does not constitute a material defect. One caveat is that a seller cannot misrepresent a property’s history. If asked about crime scenes or family tragedies, a seller must be truthful. Buyer Beware: We are Haunted. Caveat emptor is a common law doctrine that places the burden on the buyers to reasonably examine property before purchasing. A buyer who fails to meet this burden cannot recover for defects in the product that would have been discovered had this burden been met. Buyers need substantial “due diligence,” especially if the price of the home is “too good to be true.” Knock on the neighbor’s door or hire a medium, because you’ll likely never know if you don’t ask. Research local town legends and the historical records of the building, especially if it is a particularly older...