Realcomm’s August two-part webinar series, Celebrating Women and the Diverse Voices in CRE, highlighted the talent, thought leadership and unique mindsets that have enhanced commercial and corporate real estate as more women, minorities and diverse thinkers fill executive leadership positions and advanced technology roles as well as facilitate key vendor partnerships. Insights on career paths and navigating challenges In session one, Leadership, Diversity & Evolving Company Cultures, the executive-level women panelists talked about how workplace culture reflects the values of company leadership and can shape employee interactions as well as promote motivation and loyalty. With new voices in the leadership space, the panel discussed changes in leadership modeling, evolving workplace challenges, the critical role that mentorship plays and how companies are attracting new talent. A big theme among the panelists’ stories of their personal journeys was about receiving mentorship and support and becoming a mentor themselves to help other people advance and open up opportunities. Further, working with good leaders taught them how to become good leaders. Another common theme was about advocating for yourself. Hope Dunleavy, enterprise managing consultant at RealFoundations, stressed the importance of reaching out, being authentic and sharing your story while also listening to others’ stories. The panel agreed on the importance of creating community for support — such as joining (or creating) a women’s group in your organization, which Kelly Soljacich, senior vice president of LaSalle Investment Management, recommended. Veronica Unnikrishnan, partner and senior vice president of innovation, sales and marketing at 5Q Partners, commented that choosing the right organization and positions that will lift you up “is where the magic happens” and will help you grow and develop your career. Further advice included choosing the best opportunity over the most money is a wise decision in the long...

One of the most popular classes at this week’s Yardi Advanced Solutions Conference – and past events – focuses on mastering the art of creating and delivering transformative training programs. Taught by Yardi Aspire team members Patty Evans, industry principal, and Michael Joiner, senior manager for client service and content, the class demonstrates how to use software to create experiential learning exercises that stick with employees long after the training is completed. The attraction of ‘experiential learning’ This concept can be summarized as “learning by doing.” It encompasses such interactive experiences as games, point-based rewards, focus group discussions and group projects. “By engaging students in hands-on experiences, application, and reflection, they are better able to connect theories and knowledge to real-world situations, including those that impact property management success,” Evans says. Effective experiential learning assignments include simulated software skills practice sessions, video demonstration assignments, chat-based role play, scenario-based group problem-solving, and stretch exercises that challenge employees to identify and solve a real-world issue facing the organization. A study by PwC showed that employees who participate in scenario-based simulations retain 75% more information than those in traditional training methods. Additional research by LinkedIn found that 68% of employees prefer to learn through collaborative and social methods, highlighting the value of peer interaction. “By aligning with the way adults learn, experiential learning maximizes knowledge retention and skill development,” Joiner says. Linking motivation and engagement Before thinking about engagement, consider some of the principal causes of learner disengagement from a curriculum: How does that relate to engagement? Motivation, which manifests as the sense of satisfaction or reward gained from accomplishment, is the driving force that prompts a learner to take action, while engagement is the observable behavior produced by the motivation. In employee training, one of the...

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 are pleased to bring you the stories of those organizations and insight into how they aid their communities. Today, we travel north to Saskatoon, Canada and introduce Haven Family Connections (Haven Kids’ House), founded in 1976. This non-profit focuses on helping at-risk families be successful through proactive breaks and interventions to prevent issues. “We know that kids do best when their families are healthy, and we work towards that goal,” says Dionne Miazdyck-Shield, executive director for Haven Family Connections. Haven Family Connections fundraises for Haven Kids’ House, an emergency home for kids aged 0-12, opened 24-7, 365 days a year, with a 24-hour crisis line for families to call when they need respite or support. Sometimes, parents are in a very dark place involved with violence, no food or homelessness, and they need time to make decisions and find resources. “When families call us, we know they are out of options. Haven Kids’ House is a place of caring and safety for kids in Saskatoon so that kids can be kids, and parents can be successful,” said Miazdyck-Shield. In their work with Haven Kids’ House, they help families access internal resources and other supports they need to do the best for their kids. Many families are overcoming a history of disadvantages, poverty, trauma and violence. “We honour their experience and voice as we work and walk beside them. We see how hard they work for their kids, and we feel lucky to be compassionate allies with them,” Miazdyck-Shield shares. Other programs include the Indigenous Family...

Yardi staff make essential contributions to property management clients worldwide. Today, meet Tamm Sharper, a Voyager Client Success residential TX 2 team consultant for special projects in the Dallas office. Meet Tamm Sharper Tamm Sharper has been working for Yardi since December 2014. Sharper works on projects from the Voyager Client Success and RentCafe Client Success Texas teams for existing clients. From complex and sometimes expedited implementations to At-risk client specialty projects, she has a variety of opportunities to build relationships with clients during their Yardi journey. She works with clients to analyze pain points and devise a course of action, whether goal-based or time-specific, to alleviate the issues they experience daily. Sharper conducts on-site training sessions and business process reviews to optimize Voyager/CRM to give the client the most value. She also mentors colleagues and newer Yardi employees going through the N.E.S.T program by showcasing the culture of Yardi, conducting trainings and assisting with cases. Strategizing Stellar Results Sharper says, “I like to call myself ‘the fixer!’” Sharper enjoys having a client come to her at their breaking point and her being able to strategize and develop a plan to get them back on track. At the project’s close, she feels there’s nothing more satisfying than having a client smile and express gratitude for all the hard work they’ve accomplished. “There’s just something special about reviewing all the objectives we set out to accomplish and getting that confirmation of satisfaction from the client! Also, it’s heartwarming to know that I’ve made a difference in client retention when we see the numbers during corporate updates,” shares Sharper. Sharper appreciates Yardi’s transparency since the early days of the pandemic and that Yardi is always there to contribute when help is needed. “It’s amazing to hear...

Let’s journey to the Midwest and introduce you to the Boys and Girls Club of Northeast Ohio (BGCNEO), founded in 2019, creating the nation’s largest Boys and Girls Club. The club provides a safe and fun place for kids ages six-18 to go after school, focusing on academic success, healthy lifestyles and leadership. There is no charge to join. Kids can come after school when parents are typically still at work, giving them peace of mind knowing their children are in good hands.  A typical day at BGCNEO starts with “power hour,” which includes getting help with homework followed up with recreation, arts, music and a free meal. BGCNEO plans to double the number of kids by 2025 and hopes to deepen the impact of programs and strengthen connections to club neighborhoods. Funding from Yardi helps provide world-class programs for kids and expands its reach across Northeast Ohio. The support allows kids to experience various opportunities, from music performances to career-readiness programming. “We are extremely grateful for this support. Yardi has been supporting our Clubs for a decade now. We couldn’t do our work if it weren’t for our amazing partners and corporate supporters like Yardi,” says Ken Wood, director of communications for BGCNEO. On behalf of the Yardi Cleveland charity committee, Suzy Scherer, senior technology manager for revenue IQ, speaks about BGCNEO, “Knowing these kids get a place to be kids and have an activity/learning-based center that promotes positive change is so amazing!” Boys & Girls Clubs are suitable investments. A University of Michigan study found that for every dollar invested in a Club, $9.60 in benefits are returned to the community. “In a Harris alumni survey, 54% of the respondents said the club ‘saved my life,’” Wood said. Richard Starr’s Story Richard...

Holographic technology – once the stuff of science fiction, enabled with Nobel Prize-winning innovation, increasingly used in fields ranging from education and military planning to medicine and entertainment – is receiving attention as a potentially transformative workplace technology. Holograms are produced by an imaging process in which lasers capture and replicate objects into detailed three-dimensional projections of diffracted light that preserve the depth of the original physical source it displays. It is, one observer says, “the intersection of light and matter, designed to be observed from all perspectives.” The current state of the art comprises two laser beams collaborating to create solid light holographs in 10 billion pixels per square meter in ultra high definition. Hungarian-British physicist Dennis Gabor pioneered holographic technology, winning a Nobel Prize in Physics in 1971. Providing a ‘magic window’ Holographic technology “works like a magic window, where users can talk, gesture and make eye contact with another person, life-size and in three dimensions,” says Andrew Nartker, director of product management at Google, whose Project Starline aims to create 3D projections that give workers to appearance of speaking to each other across a window. Star Wars aficionados may have been introduced to holograms with Princess Leia’s distress call in the movie franchise’s first installment in 1977. An ABBA “reunion” in 2022 featured the band’s members projected as holograms. (Certain other concert projections of music legends reflected 2D images off a semi-transparent surface in an effect known as Pepper’s Ghost. Lacking depth and volume, they weren’t true holograms, contrary to popular belief.) Expanding business applications And now, this technology is providing new resources for the business world. For example, holograms can give retail shoppers 360-degree views of items. Models created with holograms help military decision-making by offering detailed visual assessments of...

Already big in the retail sector, mixed-use projects have become increasingly popular for office developers. Mixed-use developments can deliver accelerated lease-up periods as well as command higher rents compared with standalone properties in the same market. And that’s not all. As some commercial property sectors, most notably office buildings and retail properties, continue to face challenges post-pandemic, investors are more and more attracted to mixed-use projects. Market experts say that the experience economy’s influence on the workplace is a key to retaining talent. It’s a trend that forward-thinking office owners and developers are cashing in on by integrating office space into mixed-use environments. Read on to learn more about key attractions of mixed-use, including what investors are looking for. New development drivers In a May 2022 article on wealthmanagement.com, Nihar Shah, vice president of development at Perseus TDC, an affiliate of Transwestern Development Company, spoke about what’s driving new mixed-use projects. According to Shah, “There are several drivers underpinning a boom in mixed-use projects. One of the main ones is the interconnectivity of uses within a larger master plan. Infill locations work in areas that have amenities already in place, but mixed-use developments create a new built environment in areas that were previously not developed or were underutilized…The new uses usually become a win-win for both investors and cities as they create more housing, retail and tax revenue. But in densely populated areas, a location near public transit is often critical to a mixed-use projects’ success.” Higher average office rents Research shows that office rents at mixed-use developments lease up faster and tend to be an average 24.7 percent higher than those in the surrounding submarket. Not surprisingly, large mixed-use projects are under development across the country and many have already broken ground. From...

Yardi’s offices have many internship opportunities for those interested in learning about the technology side of real estate. Today, meet Brody Masterson, who joined the company for an internship five years ago and has been thriving at Yardi since. Brody and his wife, Ashton. Meet Brody Masterson Brody Masterson completed an internship in the summer of 2018 with Yardi. He completed his degree from the University of Oklahoma and graduated with a bachelor’s in management information systems. He then started working at Yardi full-time out of the Dallas office, making last month his fourth anniversary. Masterson is a senior technical manager for the residential Texas Practice 6 Team. Masterson spends most of his work resolving data issues for clients he is solely responsible for. When he is not working and meeting with clients, he works with his colleagues and team members needing assistance. Since stepping into the senior role with more responsibility, he has taken over critical topics for his team. “I’m readily available to answer any questions that my teammates have, or if they prefer, I’ll hop on a quick call with them to give them guidance on a case or insight over a Voyager functionality,” said Masterson. Yardi is a comprehensive software that takes time to learn the ins and outs. However, Masterson enjoys using not only his technical skills but also his consulting skills for the job. “There are numerous software areas that require either cloud knowledge, accounting knowledge, marketing knowledge, etc. So, it has been very beneficial learning from all these different areas,” said Masterson. Knowledge is Power Masterson likes the comradery and collaboration at Yardi. Even working virtually, he still feels the same vibes from working daily in the office. “Yardi’s culture is also very collaborative. There has always...

Swag, a word coined in the 1940s by an advertising executive, is a way for a business to reinforce its brand among clients, prospects and employees. Swag encompasses a vast array of complimentary items ranging from pens, mugs and mouse pads to hats, water bottles, backpacks, specialized bags for carrying tech gear, exercise mats, calendars, magnets, coasters and much more.  “Companies give out swag because it helps them create positive associations with their brands, increase employee morale, provide incentives to generate more business and encourage repeat purchases,” says Nectar, a provider of software used for employee recognition, retention and engagement. “Branded merchandise makes clients and employees feel like part of a team,” adds Goody, a platform for personal and business gifts. Data collected by the promotional products industry reveals the power of swag. For example, 72% of consumers believe the quality of promotional items reflects a company’s reputation. Fifty-three percent of swag recipients use a promotional product at least once a week, 60%  will look up the brand online and 72% say the quality of a promotional item impacts their perception of the brand. Furthermore, 59% of employees who receive their company’s swag report a more favorable subsequent impression of their workplace. Tips for success Marketing platform P2P and online comparison platform top10.com offer tips for using promotional giveaways to your greatest advantage: * Make sure your items are durable, attractive, relevant to your business, employees and customers, and clearly branded. Carefully evaluate how the products and their branding will reflect your mission and identity. * Emphasize practical items like pens, mugs, USB drives, mobile phone covers. Not only are they regularly used, they may be shared beyond the original recipient and further expand your brand awareness. * Buy in bulk to gain economies...

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. Introducing OneGoal Metro Atlanta, a nonprofit organization founded in 2016 with its headquarters in Chicago, founded in 2007. OneGoal transforms post-secondary advising and support so that every student can define their future. Alongside OneGoal’s partners, they are building a movement to close the opportunity gap. OneGoal Metro Atlanta works with regional partner schools to develop their knowledge and capacity resulting in more equitable and practical support for all students. Over the years, OneGoal has delivered real student impact. An independent study by the University of Chicago found that OneGoal students are about 40 percent more likely to earn their postsecondary degrees than students of similar backgrounds. In 2021, new data from the National Student Clearinghouse found that the national six-year college completion rate reached 62 percent. “Compared to their white peers, students identifying as Black or LatinX experienced an 18-25 percentage point college completion gap. This is not for lack of ambition or talent but for lack of opportunity and support,” said Tiffany Scott, senior director of development at OneGoal Metro Atlanta. These declines come just as postsecondary degrees or credentials are increasingly necessary for improving economic mobility. Unfortunately, Metro Atlanta youth are not immune to this national crisis and require an intervention that makes postsecondary degree attainment accessible for all. “Over the few years of our strategic plan, OneGoal-Metro Atlanta will focus on closing the gaps in degree attainment by delivering a solution that meets the diverse needs of Metro Atlanta students,” says Scott. She continues, “Our goal is to improve degree attainment for 2,000 OneGoal students by 2025. Our work over the next year...

Why are many leading real estate investment managers increasingly turning to the Yardi Investment Suite? Because this end-to-end solution delivers: Efficiency through automation. Automation reduces double entry from timesheets and disparate data systems. It also enables investors to access reports and forms wherever and whenever they want. Automation factors into increasing portfolio size without adding staff. Yardi Investment Manager, an element of the suite, automates subscription agreements through e-signature, capital calls and distributions. “The Investment Suite makes life easier for our real estate investment team, and thus our clients, by eliminating the need to integrate and validate data from multiple sources,” says Joe Biddle, director of IT for Baltimore-based real estate investment manager ABR Capital Partners. Another example of efficiency comes from Holladay Properties. The full-service commercial real estate firm in South Bend, Ind., saw a five-fold increase in its investor base in five years. Keeping pace with that growth required greater efficiency in every area of the company’s business – which the Yardi Investment Suite enabled. “We not only succeeded in satisfying all client expectations. And we did it without needing additional staff,” notes Wills Gardner, Holladay’s director of capital planning. Success through centralization. Centralizing all communication, transactions and opportunities on the Yardi Investment Suite platform also serves to simplify the investment lifecycle. “We use Yardi Investment Manager to call capital, make distributions through waterfall promote structures and eliminate manual tracking of capital activity,” says Scott McGinness, CFO, of Cohen Asset Management Inc., a Los Angeles-based private real estate investment company. McGinness continued: “Our staff doesn’t have to spend time assembling information from disparate sources, then preparing and distributing it. They can direct their energies to more productive activities such as researching investment opportunities and strengthening client relationships.” All information, when investors want...

Since the pandemic, companies have had to adjust to keep their customers returning. For example, movie theaters are finally starting to see box office numbers like in 2019, but how are they getting people out of their comfortable living spaces and coming to the movies? Because viewing options at home are limited, and most need more space for a 60 by 80-foot screen, IMAX theaters are growing, but smaller, older theaters cannot keep up with amenities. Sounds familiar for the return-to-office issues companies are having. Lifestyle offices have become attractive for top talent seeking a modern and progressive work environment. Let’s discuss how traditional rigid office structures and work-life integration play a significant role for talented individuals who value flexibility and freedom in their work. Lifestyle offices are the IMAX version of an office building, packed with amenities and features that support work-life integration, such as flexible work hours, remote work options, on-site childcare/dog care facilities, and relaxation areas with greenery and wellness programs. These initiatives contribute to reduced stress, increased productivity and improved employee satisfaction. Aesthetically pleasing workspaces contribute to a positive work environment. Open-plan layouts with natural lighting and biophilic design elements promote employee satisfaction. Many more extensive tech or finance companies are moving to this type of office style since they have the budget to afford the construction and high rent prices. One Brickell City Centre in Miami has done just this. Featuring sustainability and is the first LEED gold-certified commercial building with sustainable architectural features. They offer gorgeous city and ocean views from each building floor, along with flexible workspaces. Other places in New York, California and Boston have ample lifestyle offices for regional transit access, dramatic outdoor terraces, top-of-the-line security and plenty of amenities. Some offer perks for exclusive...

Self storage street rates slipped month-over-month in July as demand and supply trends soften, according to the latest National Self Storage Report from Yardi Matrix. Street rate performance was weaker than normal in July. Nationally, overall street rates (all unit sizes and types combined) dropped $1 to $141, down 0.7 percent month-over-month. Historically, rate growth is positive in July, averaging a sequential increase of 0.8 percent in the past seven years. “Lower street rates are a result of weak move-in activity, with average REIT occupancy in Q2 2023 down 400 basis points from its all-time peak in Q2 2021. Demand is impacted by the weak home sales market and domestic migration coming down from pandemic highs,” state Matrix analysts. Street rates continued to be negative year-over-year in July in nearly all of Yardi Matrix’s top 31 metros. Rates for 10×10 non-climate-controlled units dropped in 30 of the top 31 metros compared to July 2022, while rates for similar-size climate-controlled units also decreased in all but one of the top markets (Pittsburgh). Despite the challenges, there are bright spots. The job market remains sound, and strong consumer balance sheets will support long-term demand. Self storage demand has historically been resilient, coming from a variety of sources, and growth rebounds quickly following a downturn due to month-to-month lease terms and flexible customer rate increase programs. Learn more about the state of the self storage sector nationwide. Yardi Matrix tracks a total of 4,916 self storage properties in various stages of development, including 830 under construction, 1,977 planned, 672 prospective, 1,375 abandoned and 62 deferred. Matrix also maintains operational profiles for 30,152 completed self storage facilities across the United States, bringing the total data set to 35,068. Yardi Matrix offers the industry’s most comprehensive market intelligence tool for...