Creating environmentally conscious, sustainable buildings is more important than ever. Yardi client Aegis Living knows just how important, considering they’ve created the world’s “greenest” senior living community — Aegis Living Lake Union. Opened in 2022 and located in Seattle, Washington, Aegis Living Lake Union is completely emission-free, using no fossil fuels. Considering the dedication of Aegis Living in creating this spectacular community, we simply had to spread the word here on The Balance Sheet. A round of applause for Aegis Living in creating a sustainable place for residents to call home! Read more about the initiative at Aegis Living Lake Union below. Aegis Living creates world’s greenest senior living community Aegis Living Lake Union is no stranger to sustainability. Relayed by McKnight’s Senior Living, the community’s environmentally conscious design is a commendable achievement — and an inspiration to others in the industry. Impressively, standard electricity supports the entire 70,000-square-foot building at Aegis Living Lake Union, which offsets 105% of the structure’s total energy demand. The community implemented a variety of energy reduction measures to achieve this, including an onsite solar array and offsite solar energy farms. When compared with similar buildings, the community has reduced its total energy draw by 25%. “When we embarked on the journey to create the world’s greenest senior living building, our goal was to set a new standard for what is possible, bringing an equal commitment to sustainable buildings and exceptional senior living,” Aegis President Adam Clark shares with McKnight’s Senior Living. “We made this dream a reality and hope to be a model for others serving our rapidly growing aging population.” In terms of recognition (and well-deserved recognition at that), Aegis Living Lake Union is one of ten developments that’s been selected for the 2023 Urban Land Institute Americas Awards Of Excellence — and it’s the only senior living community to be recognized. It’s also the first assisted living community to meet the global green building standards set by the International Living Future Institute. About Aegis Living Aegis Living is a leader in senior assisted living and memory care. With more than 25 years of experience, Aegis is known for its deep expertise in supporting residents along the continuum of care, innovative programming, a focus on purpose-built design and an employee-centric culture. With every community, Aegis creates a living environment where residents can feel at home and inspired to live life to the fullest. The organization is headquartered in Bellevue, Washington, and operates 36 communities in Washington, California, and Nevada. Connect with us Once again, congratulations to Aegis Living for this outstanding achievement. Be sure to read more about the environment-first approach at Aegis Living Lake Union via McKnight’s. If you’re wanting to know how we support clients like Aegis with our senior living management software, reach out to our team! We’d love to show you around the Yardi Senior Living...

Spend time with professionals from the affordable housing space and public housing agencies and you’ll likely hear a timely HUD topic brought up in conversation: HOTMA. It’s a buzz that has many public housing agencies and affordable housing providers asking questions and perhaps feeling concerned about how they will manage to implement new compliance mandates. We met up with Gabrielle Van Horn, Yardi PHA director and Dave Kessler, Yardi vice president of affordable housing, to learn more about HOTMA and what it means for PHAs and affordable housing organizations. They also provide insight on Yardi’s plans to accommodate new compliance mandates that will affect households as they qualify for housing units. Q: First, tell us what HOTMA stands for? Gabrielle: HOTMA is an acronym for the Housing Opportunity through Modernization Act. It was signed into law in July 2016 and goes into full effect on January 1, 2024. Q: What is Congress asking HUD to achieve by implementing HOTMA? Dave: HOTMA is an opportunity for HUD to standardize the way affordable housing programs calculate income. For example, in the past, a household’s calculated income would vary depending on the applicable affordable housing program. Now, with HOTMA, it’s less confusing for housing providers because it standardizes the deductions and exemptions that factor into making a final determination of a household’s income. Gabrielle: Factors such as deductions from income for households with seniors are not only being recalculated, but also standardized across certain programs. That’s good news for programs affected by HOTMA. Q: What should affordable housing providers be working on now to prepare for upcoming changes? Gabrielle: Like anything with HUD, there are aspects of HOTMA that may be a challenge to comprehend and implement. There is a lot to learn and prepare for as the January deadline approaches. Dave: Yardi, as well as other affordable housing and PHA software vendors, is updating our technology to accommodate changes required by HOTMA. We’ll have online coursework for our clients to make sure they remain compliant throughout the process. We are also expecting to soon see HUD’s updates to forms 50058 and 50059, as well as other forms that are directly affected by HOTMA. Once we see those in final format, Yardi will make sure our clients have access to them in our software and that the data fields and calculation formulas are adjusted for HOTMA compliance. Gabrielle: I also want to express that training organizations and nonprofit affordable housing advocacy groups are the best resources for learning about HOMTA. I follow NAHRO’s blog and social media posts for up-to-date information on HOMTA, including training resources they’ve been sponsoring. I recommend this type of training for affordable housing providers and PHAs, and that they get started as soon as possible. Q: What would be an example of an upcoming change? Gabrielle: One that’s sure to help many is the increased income deductions for seniors. Increasing those deductions will make it easier for households to qualify for a unit. It makes sense to make that adjustment now, especially as inflation has increased expenses. Dave: Yes, I’m not sure if HUD expected the pandemic and its residual effects in terms of wage increases when they passed HOTMA in 2016. However, the timing is perfect as it will help households qualify for needed housing resources even as their income may have risen due to high inflation rates over the past few years. Q: How will Yardi software adapt to HOTMA? Dave: We are actively working on updates to Yardi Voyager and Breeze Premier as well as RentCafe, our portal solution for applicants, renters, and private landlords. We’re focused on having that technology ready when our clients are required to adopt HOTMA standards. Gabrielle: We’ve also made additional support staff available so that our clients can get help with Yardi software. But, again, learning HOTMA regulations and compliance mandates is best done with training resources such...

Yardi has been named to the 2023 Forbes Cloud 100, 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 the continual efforts of our employees and the unfailing support of our clients worldwide.” The Cloud 100 again reviewed submissions from hundreds of cloud startups and private companies. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), and people and culture (15%). “The companies of the Cloud 100 list represent the best and brightest companies in this crucial tech sector,” said Kenrick Cai, Forbes editor of the Cloud 100. “This year’s companies had to react rapidly to AI’s sweeping impact while contending with a market pullback. Their resilience puts them in elite company.” “This year’s Cloud 100 list is one of the most dynamic in history. While the industry faced macro headwinds, the 2023 Cloud 100 winners displayed the innovation and resilience of the cloud economy and the combination of growth and efficiency that prove the power of the cloud business model. 95 percent of the honorees are forecasted to reach Centaur status — $100 million of annual recurring revenue — by the end of the year,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “It is further exciting to see so many honorees at the forefront of the AI revolution, which we believe will continue to transform the cloud and propel the next wave of growth for many of this year’s winners.” “The past year our industry has seen a generational step forward in innovation and with AI leading the charge, we are witnessing one of the most important platform shifts in decades,” said Paul Drews, managing partner, Salesforce Ventures. “The Cloud 100 list represents the best of the best and we’ve never been more excited about what the future holds, not only for the cloud but for the entire technology industry. We are proud of what these founders and their communities have already accomplished and look forward to seeing how they continue to transform the industry in the future.” The Forbes 2023 Cloud 100 is published online at forbes.com/cloud100 and will appear in the August/September 2023 issue of Forbes magazine. About Yardi Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com. About Bessemer Venture PartnersBessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has $20 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio). About ForbesForbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than...

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. Today we introduce you to, Don’t Forget To Feed Me (DF2FM) Pet Food Bank, founded 2008 in Fort Worth, Texas. DF2FM aims to supply pet food to local agencies to support pet owners. By providing pet food for those in need during challenging financial times, DF2FM offers an alternative to surrendering or abandoning their family pet. They provide free pet food to 35 distribution partners in greater Fort Worth. “Don’t Forget To Feed Me helps to ensure that no pet owner ever has to choose between stay or go…,” says Debbie Sharpe, community outreach coordinator for DF2FM. Don’t Forget To Feed Me strives to provide enough dog and cat food for its partner’s needs for distribution to deserving pet owners. Each partner has a pre-determined monthly amount, and DF2FM keeps a running waitlist of organizations wishing to partner with them. “We review all potential partner requests during the last quarter of each year to determine if we can add new partners the next year,” Sharpe said. Funding from Yardi enables DF2FM to purchase thousands of pounds of pet food that is then distributed. They currently distribute over 30,000 pounds of pet food to its partners monthly. In addition to the donated food DF2FM receives, they must purchase additional food from local feed stores at a discounted price regularly to meet the community’s needs. “We are beyond grateful for the continued support of Yardi and the enthusiasm of Yardi employees towards DF2FM,” shared Sharpe. Ruff times DF2FM recently received a call from a pet owner at the shelter getting ready to surrender their pet due to unforeseen financial hard times. The shelter staff informed the pet owner that Don’t Forget to Feed Me provides free pet food to several local food pantries. They decided against surrendering and contacted one of DF2FM’s partners to receive much-needed pet food, enabling them to keep their beloved pet. Volunteer Oppawuntities Volunteering options include small group dog and cat food bagging at DF2FM’s Fort Worth warehouse. In addition, DF2FM is always looking for volunteers to work its table at community events to help spread the word about DF2FM. Another need is for volunteers to pick up donated food from 70+ donation locations across the metroplex and deliver it to the warehouse. Many organizations will also hold internal pet food drives and either donate the collected food directly to DF2FM or hold an offsite bagging event at their workplace and return the pet food bagged and ready to go. Those interested should contact [email protected] for more information. DF2FM’s pet food distribution numbers in 2023 are already 31 percent more than last year. The need continues to grow as people are struggling to overcome financial challenges. “We truly appreciate the support of all who value the well-being of beloved pets,” shares Sharpe. Find future non-profit profiles...

“I don’t get excited about change, per se, but I’m very comfortable with change. I fundamentally believe that change is an important part of the formula for business success.” That quote comes from Doug Dollenberg, Jr. — the final honoree in the 2023 Changemakers series by Senior Housing News (SHN)! It’s been a pleasure to sponsor the series for the fifth consecutive year, we’ve loved celebrating each senior living visionary recognized.   Keep reading for a snapshot of Doug Dollenberg, Jr.’s interview, which is packed with insightful stories and advice. Yardi client Doug Dollenberg, Jr. named 2023 Changemaker For Doug Dollenberg, Jr., president and CEO at Brightview Senior Living — a dedicated Yardi client — change isn’t just inevitable, it’s necessary. Since joining Brightview in 2017, he’s led changes that have positively shaped the organization to be what it is today — and he’s learned valuable lessons through it all.   In his interview with SHN, Dollenberg shares why he thinks change is essential in the senior living industry, and explains the importance of driving collaborative change. He also shares how his experience at Brightview has reinforced his passion for people and culture — and speaks to the organization’s plans for the future.   SHN: What are some ways that you think the senior living industry needs to change in the next five years? Dollenberg: Staffing is one. Two, resident experience. Three, embracing technology and innovation. And four, rebounding margin. On the staffing front, turnover is a huge challenge in the senior living industry. It is in plenty of others, but especially in senior living. And we need to attract more people to the industry and help people realize that senior living is a great industry and a great place to build a career. There are tremendous career opportunities in our industry, and we’re only going to need more and more people over the next decade. There’s already something like a million people who know it’s a great industry, but we have to attract more people to it. I think it’s going to require creativity and innovation and change to get more people to enter our great industry. We also have to figure out ways for Brightview and for the industry as a whole to figure out how to increase retention. Another is resident experience. Our resident needs and desires are evolving, and we need to be focused on addressing that for the residents of today — and also the residents of the future. The baby boomers, they’re not really entering our communities in the next handful of years, but as you go out 5, 10, 15 years, we really have to be thinking about them. As we’re looking at today’s residents and future, we have to be looking at what are the changes that impact our operations and the communities we develop for the future. The third area that I mentioned is embracing technology, innovation and process improvement with the goal of driving efficiencies. I think that’s increasingly important in our industry, as we’re focused on margin. We have to search for and create efficiencies in our business, and so much of that is going to come back to those things that I mentioned: Technology, innovative and creative ideas, and process improvement. The fourth big change in my eyes is margin rebound. Ultimately, our industry needs to get back to the operating margins that we had pre-pandemic, whether that’s getting back to or near those pre-pandemic margins. That’s something that needs to happen, and that is the function of building occupancy, driving revenue, and managing costs. I feel the industry is working on that, which is a good thing. And personally, I feel really good about the progress that our Brightview team is making on that front. SHN: How do you think about timing so that Brightview can innovate without getting so far ahead of the market that...

At 2023 Apartmentalize powered by NAA, Yardi Vice President Richard Malpica led a panel with multifamily executives about how staffing challenges are driving the need for automation and centralization. Meet Berkshire Residential Investments Vice President of Marketing Justin Wald, Fogelman Properties Vice President of Shared Services Kim Young, ROSS Companies Vice President of Marketing Taylor Blades and Westdale Asset Management Technology Director Jaymz Yates. What do these leading voices in multifamily have in common? They’re all leveraging technology to maximize staff satisfaction, enhance customer experiences and improve efficiencies.  Session panelists at the 2023 Apartmentalize education conference. From left: Yardi’s Richard Malpica, Berkshire Residential’s Justin Wald, ROSS Companies’ Taylor Blades, Fogelman Properties’ Kim Young and Westdale’s Jaymz Yates. Read on to learn about their challenges, strategies and how they’re taking on automation and centralization to automate routines and humanize exceptions.  Richard Malpica: What kind of staffing constraints is your company experiencing, and are there any new expectations the industry needs to adapt to? Justin Wald: Expectations have changed for our onsite employees. They now expect being able to work from home in addition to a higher salary. On the other hand, our prospects and residents have the expectation of immediate gratification. So, we’re really taking a step back and thinking about ways to provide the right tools for everyone’s satisfaction. Kim Young: One of the biggest things for us is onboarding. We now know to ensure that our tech is in place before a turnover occurs so the transition is as smooth as possible. Taylor Blades: Today’s employees don’t want to spend hours working leads, handling maintenance tickets or paying invoices. I think we could improve retention if we move them away from these tasks and give them more time to make an impact with prospects and residents. Today’s employees want to be involved in higher levels of thinking, not necessarily just leasing apartments or responding to emails and answering the phone. Jaymz Yates: I think we also need to be mindful and recognize that what we’re expecting out of our staff is different from what it was 10 years ago. We could look at it in a way where we’ve given them tools for success, but we’ve also put an additional burden on them to learn those new tools. It’s hard enough to hire staff, but now we expect them to manage multiple lines of channels and communications. Richard Malpica: Today’s workers place a bigger emphasis on their wellbeing. How is your company providing a work experience where employees are invested, participate in more than just rudimentary tasks and feel supported by automation? Kim Young: Our industry has a reputation of creating a pipeline where someone can start out as a leasing agent then become an assistant manager, property manager and possibly a regional vice president. But the problem is that those roles each require a different skill set. It’s not a natural progression, and that’s always been a problem. With automation, you can take a skilled leasing agent and help them deepen their practice, or help an entry-level employee excel in their field. It can be a tool to guide career paths. Richard Malpica: Everyone is interested in what automation can do. How are you utilizing automation to attract and retain the best employees? Taylor Blades: We might be in a position now where employee turnover is almost more costly than resident turnover. Some of the things we’re doing to add value to our employees’ work lives is removing the high-volume, low-value tasks out of their daily routine. We successfully implemented a bot that could handle leads from any channel. This helped our staff focus on building a connection with our residents, hosting events and making meaningful interactions. Our residents’ needs are aligning with our employees’ needs. Kim Young: We’re trying to highlight the fact that automation improves our workflow. Our leasing teams are not going to suddenly...

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. Let’s travel to Dallas, Texas and introduce you to the Texas Conservation Alliance (TCA), founded in 1972. Since they were founded, TCA has had a remarkable record of protecting Texas state forests, prairies and rivers. “Through grassroots advocacy and community coalitions, TCA protects and preserves wildlife habitats for the future benefit for all Texans,” said John DeFillipo, executive director of TCA. TCA incorporates community engagement and advocacy, conservation education and outdoor recreation elements to help inform people and protect Texas wildlife habitats. The community engagements include: habitat restoration with native plants river and stream clean-ups encouraging decreased light pollution in major Texas cities invasive species removal wildlife habitat surveys Forest and prairie hikes Funding from Yardi has supported various programs for the Texas Conservation Alliance. Such programs include supplying resources for native plants and sustaining its Texas Conservation Action Team (TXCAT). TCA plans to increase staff members and diversify its community volunteer base, interns and anybody interested in the restoration, conservation and preservation of Texas wildlife habitat. TCA plans to conduct several environmental education activities in outdoor settings for over 900 participants in North Texas this year. And hopes to plant 250 trees, 2,500 native plants and restore 100 acres of wildlife habitat. “Thank you, Yardi, for being a solid and committed supporter of TCA for the past several years. Your company’s commitment to the environment and conservation is a great example to other colleagues in the DFW area,” shared DeFillipo. An Ally for Wildlife Skyler, a student at Texas A&M University, reflects on an incredible internship experience at Texas Conservation Alliance. This was Skyler’s second semester interning with TCA, and he was offered an opportunity to frame and pilot the campus Lights Out, College Station (LOCS) collision survey program. “Looking back, I’m amazed by how much experience and knowledge I’ve gained in such a short time and the opportunity I’ve had to contribute to wildlife-saving efforts in my city,” shared Skyler. TCA’s internship program offers many potential projects— aspiring conservationists in Texas are encouraged to apply for the upcoming fall semester internships. The remote-style program allows for a better balance between academics and other responsibilities. “All in all, I have found myself an ally for all wildlife- to be an unexpected bird enthusiast and, more than all, a leader in my community,” Skyler shares. Volunteer Opportunities “Conservation of wildlife habitat can be done within your home or business. Plant native species to create habitat, conserve water this summer, turn off lights when leaving your office or home and engage with a community conservation group,” shares DeFillipo. TCA currently does not have any summer events, but in August, they will have events posted for the Fall. Private conservation events for Yardi employees or community groups can be directed to Mei Ling, community conservation director, at [email protected]. Find future non-profit profiles...

We hope you’ve enjoyed this year’s Changemakers series to date, a series full of inspiring interviews with leaders across the senior living industry. As sponsor for the fifth consecutive year, we’ve enjoyed sharing the interviews and highlighting how each honoree is building a better tomorrow. Today’s featured Changemaker is Jodi Guffee, owner and chief operating officer at Radiant Senior Living, one of our amazing senior living clients! Read on for a preview of Guffee’s interview, then head to the Changemakers site to read her full conversation with SHN. Yardi client Jodi Guffee named 2023 Changemaker With over 20 years of experience leading Radiant Senior Living, Jodi Guffee has spearheaded initiatives that have changed the organization’s operations for the better. While she’s faced challenges throughout her career, it hasn’t stopped her from pushing boundaries in order to make Radiant — and the industry as a whole — a better place. In her interview with SHN, Guffee shares what her journey has been like over the years — and reveals more about her initiatives at Radiant and what’s inspired them. She also shares her perspective on the senior living industry today (and her outlook on where it’s headed). SHN: As you look across the rest of the senior living industry, do you think that it’s changing fast enough to keep up with the times? Guffee: No. That’s a short answer, I know. There are several layers to that. Probably one of the biggest ones is funding: funding for staffing and funding for a generation that’s going to have a hard time paying for what we have to charge. We have a huge middle market segment that needs to be served, and we have models that are unaffordable for the most part. There are some genius people out there really doing some cutting-edge stuff that I’m really looking into. I think it’s fantastic, but I don’t think that there are enough companies that can pivot quickly enough for us to be able to serve this baby boomer “silver tsunami.” We just don’t have the people to take care of them, and the people who are going to need our services may or may not be able to afford them. Where are we going to see some government subsidies for lower-income, reimbursement rates? Our home offices are in Oregon. We have a very lucrative reimbursement rate for memory care, but not for assisted living. They aren’t very different [residents], but we have an extremely good reimbursement rate for memory care. We’re also pioneers here in Oregon. There are very few states that have good reimbursement for the private sector to be able to take some state or federal funding for residents that are low income because it’s not affordable. SHN: Can you talk about a time when you tried to execute a change and things didn’t go according to plan? How did you pivot, and what did you learn as a leader? Guffee: Gosh, there are so many. I’ll say that the ability to turn and pivot and see through different lenses is probably the key. [For example], when we were at the beginning of COVID and then in the middle of COVID and then coming out of it, we see the statistics are scary. We lost 40% of our women in the workforce. In our setting, that’s a lot of the people. They had to either stay home to take care of children who were online schooling, or they couldn’t afford childcare, so it was more affordable for them to stay home. That was and still is a very scary time in that everybody has a staffing shortage. What are we going to do about that? It kept me up at night for a long time. We were trying so many different things and being flexible, and things just weren’t working. We weren’t getting people back into the workforce. Our entire industry,...

In the dynamic world of property management, training and development play a pivotal role in ensuring the success of your team and the smooth operation of your business. As a leading learning management system (LMS) provider, we understand the importance of seamless integration and customization when it comes to training your valuable workforce. Our cutting-edge platform offers embedded authoring tools and customizable content, empowering your organization to shape your training programs according to your unique needs. Read on to see why incorporating your own policies into training content is key for maximizing learning outcomes, enhancing compliance and fostering a cohesive team culture. Tailored training No one knows your business better than you do. Each property management company has its own set of values, policies and processes that drive its operations. By integrating your company’s specific policies and procedures into standardized training content, you can provide your team members with relevant and practical information that directly applies to their roles. Customizable content allows you to adapt training material to reflect your unique company culture, ensuring that your employees understand the specific rules, regulations and best practices that govern your organization. Cohesive team culture Incorporating your company policies into standardized training content goes beyond compliance and procedural adherence — it fosters a sense of belonging and unity within your team. When employees receive training that aligns with the company’s values, policies and processes, you create a sense of relevance and ownership among your employees. Customized training content reflects your company’s unique identity, helps build a cohesive team culture that promotes collaboration and leads to enhanced performance and productivity in day-to-day responsibilities. Easy updates and maintenance Company policies and processes evolve over time to adapt to industry trends and regulatory changes. With Aspire’s embedded authoring tools, you can easily update and modify the content to reflect these updates. Instead of relying on external providers to make changes, you have full control over the content, ensuring that it remains current and aligned with your organization’s ever-evolving needs. Aspire provides full audit trail and revision history, plus page-level customization locks that prevent your content from being overwritten during content upgrades. This agility empowers your company to respond swiftly, update a single source and ensure your employees always have access to the most up-to-date information. Consistency and compliance Maintaining consistency and compliance with industry regulations and legal requirements is of paramount importance in property management. When you include your company policies and custom processes in standardized content, you establish a unified approach that reinforces compliance messages, making them more visible and accessible to your employees. By embedding policies into the training program, you create a seamless learning experience that ensures everyone understands the guidelines, minimizing the risk of non-compliance and potential legal ramifications. Cost and time efficiency Embedding your company policies and custom processes into standardized training content can significantly reduce training costs and time. By utilizing Yardi Aspire interactive courses and customizing them to fit your needs, you can save valuable resources that would have been spent on developing training content from scratch. This creates a harmonious blend of product, industry expertise and internal practices in a single learning experience, increasing efficiency and maximizing training outcomes. A connected and customizable solution for all your training needs Training can play a critical role in the success of property management companies. By incorporating your company policies and custom processes into Aspire’s training content, you empower your team with relevant knowledge, reinforce compliance and strengthen your organization’s unique identity. Our customizable solution, equipped with customizable content and embedded authoring tools, enables you to seamlessly integrate your policies into your training, fostering a cohesive team culture and maximizing learning outcomes. Learn more about Yardi Aspire and reach out to see how you can optimize your property management training to drive success, efficiency and compliance within your...

Responding to moderating demand, self storage street rates remained healthy through the second quarter of 2023, according to the latest National Self Storage Report from Yardi Matrix. Nationally, the average rate for self storage units overall remained unchanged month-over-month. Historically, rates tend to increase in the summer months. With the exception of 2019, every year from 2017 to 2022 experienced a May-to-June rent increase of at least 0.7 percent. “Muted monthly rate growth this year may signal that move-ins are slowing this leasing season as demand cools,” say Matrix analysts. “Move-in activity has slowed this year as home sales have cooled, especially compared to the robust home sales in early 2022.” In June, national street rates for 10×10 NON CC units decreased 3.8 percent year-over-year. Rates for 10×10 CC units fared worse, falling 5.3 percent year-over-year, the largest recorded decline since May 2020. Annual street rate growth continued to be negative for almost all of Yardi Matrix’s top 31 metros in June. Street rates for 10×10 NON CC units were down year-over-year in 97 percent of the top 31 metros. Learn more about the state of the self storage sector nationwide. Yardi Matrix tracks a total of 4,751 self storage properties in various stages of development, including 810 under construction, 1,913 planned, 622 prospective, 1,353 abandoned and 53 deferred. Matrix also maintains operational profiles for 29,824 completed self storage facilities across the United States, bringing the total data set to 34,575. 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, industrial, office and self storage property types. Email [email protected], call (480) 663-1149 or visit yardimatrix.com to learn...