The student housing market is showing promising signs as it heads into the very early days of a new leasing season. Despite some challenges, the outlook remains positive, according to the latest webinar on the sector from Yardi Matrix. (View recording and other materials here.) Student housing continues to see solid demand and a few market adjustments should benefit the sector in the medium term. Yardi Matrix tracks the performance of 1.15 million student housing beds at over 2500 U.S. universities to analyze the performance of the student housing market. Let’s dive into some of the key points shared by Tyson Huebner, Director of Research for Yardi Matrix, which explore current state of the student housing market and actionable investment insights. Rent Growth Trends Huebner kicked off the discussion with an optimistic view of the student housing sector, driven by early enrollment data from around half of the Yardi 200 markets. While student housing occupancy has dipped slightly from last year’s 95.4 percent to 93.9 percent, it still reflects strong demand, especially when compared to the pre-pandemic occupancy levels of 96.1 percent. The decrease in occupancy is attributed to a few underperforming markets, but overall, the demand remains robust. Rent growth in the student housing sector has moderated slightly but still averaged a healthy 6% during the leasing season, down from the previous year. This deceleration is partly due to the slower growth in the broader multifamily sector, which has influenced student housing. However, there are still several markets showing exceptional rent growth, highlighting the importance of understanding local market dynamics. As with any cyclical industry, volatility remains a key characteristic of the student housing market. Huebner emphasized the importance of diversifying portfolios, as some markets that were previously underperforming have seen a dramatic turnaround, showcasing the unpredictable nature of supply and demand. The key takeaway here is that market data and deep local knowledge are essential for successful investments in this sector. Insights and Investment Opportunities Looking ahead, Huebner shared several promising investment themes that continue to hold strong: Declining New Deliveries: One factor contributing to the favorable outlook is the reduction in new student housing deliveries, which should help balance supply and demand in the coming years. Diversified Markets: Of the 200 markets tracked, 41 reached 99% occupancy or higher, and 35 saw double-digit rent growth. At the same time, 22 markets had occupancy rates below 85%, and 23 markets experienced rent declines. This highlights the sector’s inherent volatility and the importance of market selection. Overlooked Opportunities: There are still many opportunities in overlooked markets, especially at secondary and tertiary schools that may be under-supplied. Huebner pointed out several key areas for investment, including: 15 primary state schools with no new supply 34 schools with less than 35% of total enrollment housed in student housing 45 schools that have seen significant recent enrollment growth (over 2,000 students) “This sector, even though it’s 20 years old, has been growing. There’s still a lot of growth left in it, not only on the acquisition of getting the on the acquisition side, but in the development business,” said Jeff Adler, vice president of Yardi Matrix. Despite some challenges, there are numerous high-performing markets and overlooked opportunities for investors who understand the volatility and dynamics at play. By leveraging market data and diversifying portfolios, student housing investors can continue to capitalize on the sector’s strengths and navigate its challenges. Yardi Matrix data can help. Learn more...

In October 2024, Yardi proudly co-hosted the year’s first GRESB Regional Insights event in Toronto, bringing together industry leaders and experts to discuss trends in real estate energy and sustainability. The event focused on the critical role of ESG (environmental, social, governance) in shaping the future of real estate, offering attendees valuable opportunities to learn from thought leaders, network with peers and explore rising trends in real estate practices. For over 15 years, GRESB has been at the forefront of sustainability within the real estate sector, setting benchmarks that drive transparency, accountability and long-term value creation. GRESB’s comprehensive assessments and data-driven insights have become crucial for investors and asset managers seeking to integrate ESG principles into their strategies and operations, particularly as they navigate sustainability challenges and develop innovative solutions. Key insights With over 65 attendees and a full morning schedule, industry leaders like Dan Winters from GRESB shared critical updates on sustainability trends, stressing the importance of data-driven strategies to achieve ESG goals. He emphasized the need for real estate firms to align with evolving global standards and adopt innovative approaches to sustainability reporting. Darryl Neate from REALPAC and Rob Simpson from Caisse de dépôt et placement du Québec (CDPQ) highlighted the growing role of ESG in real estate investment decisions. Their discussion centered on how real estate organizations can adapt to increasing regulatory pressures by embedding sustainability into every level of their operations. As ESG reporting requirements continue to grow, the demand for accurate data and streamlined processes is more critical than ever. Rebecca Everts, senior energy benchmarking analyst at Yardi, discussed the importance of precise data management in tracking and analyzing building energy consumption. Yardi Energy has established itself as a leader in this field, equipping clients with tools to efficiently collect and analyze energy data. Much of the event’s discussion centered on the benefits of centralized data and clear reporting guidelines. Rebecca noted, “Reporting data for multiple organizations and clients can be complex, especially with different reporting timelines. Having well-organized data stored in one place makes it easier to review, ensure accuracy and streamline the reporting process.” Rebecca also stressed that integration and data transparency are key to meeting the rising demand for ESG compliance. Yardi’s solutions help clients tackle these challenges head-on by offering advanced technology that simplifies the data collection and reporting process. Overcoming challenges in ESG reporting While the benefits of ESG integration are clear, the journey toward full implementation is not without its challenges. As other panelists, Bozena Jankowska of Slate Asset Management and Jessica Pilz of Fiera Capital, pointed out, successful ESG reporting requires more than just data—it demands passion, patience, and perseverance, the “three P’s” of ESG. They emphasized that ESG integration involves multiple stakeholders across an organization, and support from senior leadership is crucial in driving sustainable initiatives forward. Additionally, collecting reliable data, particularly from external vendors, can be a challenge. However, with best practices like centralizing data collection and encouraging regulatory compliance, organizations can ensure smoother ESG reporting. A look to the future This event emphasized that sustainability is no longer just a trend—it’s a necessity in today’s real estate market. As the demands for ESG transparency grow, real estate organizations must stay ahead by embracing innovative solutions, fostering a culture of sustainability and centralizing their data. Centralized data not only streamlines the reporting process but also enhances data accuracy and transparency, helping organizations meet compliance standards more effectively. Yardi is proud to be part of this important conversation and looks forward to driving positive change in the industry. To learn more about how Yardi’s energy solutions can support your ESG goals, watch a...

This Yardi-supported nonprofit is enriching lives and strengthening the communities in Colorado. Developmental Pathways (DP) was founded in 1964 in Aurora, Colorado and serves over 15,000 individuals with disabilities and their families. It is a designated Case Management Agency (CMA) for long-term care services in Arapahoe, Douglas and Elbert counties and one of Colorado’s Community Centered Boards (CCB) connecting people to federal, state, county, and private funding. “We passionately believe inclusion is for everyone and offer services through Medicaid waiver programs, locally funded programs, and partnerships with other community organizations,” said Darcy Tibbles, vice president of community affairs for DP. Additionally, DP is Colorado’s largest early intervention (EI) provider, which connects young children to essential resources. For the upcoming year, DP will follow seismic changes in Colorado’s disability system and are committed to stabilizing and aligning disability supports across its catchment area. “Our top priority is to ensure continuity of care for our members through compliance, quality, simplicity, stability, and accountability. Community outreach and engagement is vital to our mission, and we aim to foster connection and dialogue through events and connections with DP members, families, and caregivers,” explained Tibbles. Yardi funding directly benefits DP’s Unmet Needs Program. This program significantly aids members in accessing community support, which is focused primarily on supporting individuals with intellectual and developmental disabilities (I/DDs). The Unmet Needs Program focuses on the specific needs of individuals. It aims to provide services and items not covered by other resources, such as specialized equipment, therapy, and other essential services. Last year, local funding allowed DP to review over 3,000 requests from its members. “We are truly overwhelmed and filled with gratitude for the incredible support we continue to receive from Yardi,” said Tibbles. She continued, “For over five years, Yardi has generously supported DP, and the positive impact of their commitment has been deeply felt within our community. Yardi’s ongoing partnership makes a lasting difference in the lives of individuals with disabilities and their families. Thank you, Yardi, for being a dedicated, supported and essential part of our journey!” Jesse’s Pathway Jesse and his family depend on a specialized ceiling lift to support many of Jesse’s daily activities. Over the past year, his family faced increasing challenges in assisting him with movement and transfers as he grew. To ensure his safety, they required an extension for Jesse’s lift, which other funding sources could not cover. Thanks to support from DP and partners like Yardi, Jessie’s therapy room received a lift upgrade in just one month! Now, his family can help him move around safely and effortlessly. “Funding from partners like Yardi makes a difference in the lives of individuals across our community in many ways. We are grateful to Yardi for the support you and your teams have generously shared over the years,” expressed Tibbles. Volunteer Opportunities Developmental Pathways has several yearly opportunities to get involved, including its upcoming Pathways Holiday Outreach (PHO) giving event and its Thanksgiving meal drive, where community members and partners can sponsor DP families most in need during the holidays. To learn more, visit its Resources page or reach out to [email protected]. “You can donate directly to DP or set up an account and select Developmental Pathways as your charity of choice through the King Soopers community rewards program! Learn more on our Ways to Donate page. You can also connect with us on Facebook, LinkedIn, Instagram, and Twitter (X),” said Tibbles. Find future nonprofit profiles at https://www.yardi.com/blog/category/giving. Yardi is Energized for Good! Visit www.yardi.org for more about our philanthropic...

One of television’s most popular shows, Yellowstone, has sparked real estate interest in Montana and beyond. Let’s delve into how the show has popularized rural living and brought attention to the mountain regions of the West, real estate and environmental economic trends that have emerged and what to know before you buy land like a Dutton. Western Real Estate Trends The surge in real estate demand in Wyoming, Montana, and Idaho since the show’s debut is nothing short of thrilling. Home prices and land values are rising, with some clients even referencing the show when purchasing. The allure of the wide-open spaces and natural beauty depicted in the series has inspired many to seek a similar lifestyle change or invest in a second home. It’s no wonder that real estate for the average home price has risen, an increase in buyers seeking large acreage or ranch-style properties and shifts in demand for both luxury and rustic homes. There have been challenges in meeting the demand in smaller towns and rural areas. However, some positive economic benefits have been seen, such as job creation in construction and booming tourism. Still, with the promise of progress and prosperity, it has brought challenges for locals with higher living costs. In a broader sense, the Yellowstone effect has affected the environment around Yellowstone. Several ecological concerns are happening, such as wildlife displacement, increased resource demands, and pressure on natural landscapes. The “balance” between private land development and conservation is landing hard on some of America’s most famous wildlife populations in the Greater Yellowstone Ecosystem. Some scientists say leaders on many fronts fail to prevent it. For seasonal employees at Yellowstone, trailers that were once home for these employees have now transitioned to modular one-to-two-bedroom homes, part of a multimillion-dollar housing improvement strategy initiated in 2020. Officials have made progress on three goals in the plan — replacing trailers with modular, upgrading non-trailer employee housing park-wide, and rehabilitating historic homes with Great American Outdoors Act funding. However, about 100 year-round employees working in Mammoth own homes in Gardiner, purchased in the late 1990s or early 2000s, when housing was affordable. More than half of those employees are expected to retire soon, leaving vacant positions open and no place to live for newcomers since housing is too expensive and no rentals near the park. “The previous strategy has been to chase the cheapest community, and that’s not working here,” said Cam Sholly, superintendent of Yellowstone National Park. Real estate prices are booming in Bozeman, Livingston, West Yellowstone, Cooke City and Gardiner, and “there is nowhere else to go.” Buying Land like a Dutton Before deciding to relocate to the West, urban dwellers need to understand the local community. Those interested in commercial real estate or apartment/condo buildings should be prepared to learn about property management, septic systems, wildlife management and land conservation. Finding service providers in remote areas can be challenging, and understanding the local medical and emergency services is crucial. It’s essential to be prepared for a life with fewer nearby amenities. Not everyone can have the luxury lifestyle with a Dutton helicopter there to transport quickly to the nearest hospital. For those considering a large land purchase, remember the unique considerations that come with ranch or multi-acre properties. Legal aspects include water rights, zoning and conservation easements, property taxes, land management and infrastructure needs. Suppose buyers are unfamiliar with rural land and the brutal winters in this area. In that case, they need to understand that there is a different type of upkeep and cost associated with owning and maintaining these properties. Westerncore Several demographics and cultural changes have occurred in local communities that have seen an influx of new residents inspired by Yellowstone. Long-time residents have had to adjust to the increase in population and real estate activity, as well as newcomers who moved to the area precisely because of the show. Changes are impacting local businesses,...

Lake Erie Nature & Science Center (LENSC) was established in 1945 in Bay Village, Ohio and has inspired the community to appreciate and be responsible for our natural world. A unique combination of resources can be found only at LENSC: Live animal exhibits Wildlife rehabilitation services A public-access planetarium Nature-based preschool and animal program for all ages LENSC is one of the region’s most affordable and accessible destinations to learn about the environment. It offers free general admission and free wildlife rehabilitation services to more than 10,000 visitors annually. LENSC is committed to providing accessible nature education for people of all ages and help for native wildlife. “We look forward to completing our Wildlife Gardens Education and Renovation Project in 2025, which will transform the outdoor Wildlife Gardens to give visitors better visibility of the Center’s resident animals and wildlife rehabilitation efforts. At $1,900,000, it will be the largest capital investment in our free offerings for the public,” said Morgan Haines, marketing and development coordinator for LENSC. Yardi’s generous support is instrumental in helping LENSC provide free general admission to indoor and outdoor exhibits, nature-based programs for all ages, and wildlife rehabilitation services at no charge to the public seven days a week. Thousands of visitors Both humans and animals love and benefit from Lake Erie Nature & Science Center. In 2023, LENSC served more than 100,000 visitors through free general admission and admitted more than 1,800 animals into its rehabilitation facility. “Our enduring mission goals are to educate and inspire people of all ages about our Earth, our relationship to it, and how that relationship is shaping our quality of life and future,” explained Haines. Volunteer Opportunities Lake Erie Nature & Science Center coordinates corporate volunteer opportunities. For more information on corporate opportunities, please visit here and for individual opportunities, see here. Find future non-profit profiles at https://www.yardi.com/blog/category/giving. Yardi is Energized for Good! Visit www.yardi.org for more about our philanthropic...

Paper leasing poses significant challenges for senior living operators. In addition to being error-prone, paper processes are also time-consuming and costly to maintain. Fortunately, innovative solutions exist to alleviate these challenges — including our mobile-friendly, integrated CRM solution: RentCafe Senior CRM. Take it from Morning Pointe Senior Living, an organization with 38-plus communities using the electronic leasing in RentCafe Senior CRM to build success today. We spoke with the Morning Pointe team to learn more about their journey (including the challenges they faced before Yardi and the success they’ve since experienced). Enjoy the recap below, then read the full case study. The challenge: Tedious paper processes Morning Pointe previously used paper to generate leases, collect signatures and store records. With lease agreements averaging at 80 pages each, daily processes were time-consuming, susceptible to errors and costly to maintain. The solution: Seamless electronic leasing Morning Pointe now operates with RentCafe Senior CRM, our fully integrated sales and marketing solution that offers a seamless electronic leasing workflow. Communities are mitigating errors, empowering staff and experiencing significant time and cost savings. The results: Time savings, cost savings and more With RentCafe Senior CRM, Morning Pointe is streamlining every stage of the leasing workflow. Time savings: Rather than devoting time to printing and assembling paper leases, Morning Pointe can now generate documents with ease — all digitally. With RentCafe Senior CRM offering intuitive features to quickly create, sign and store every file needed, communities are saving approximately 1.5 hours per move-in. Going paperless: With help from RentCafe Senior CRM, Morning Pointe is reducing costs, mitigating errors and eliminating wasteful practices. With all documents centralized on an electronic platform, leaders rest assured that they’re operating efficiently — and being environmentally friendly. “Switching from our old paper system to the digital leasing program by Yardi has helped bring Morning Pointe forward in technology — and in customer service,” shared Doru Mihaescu, vice president of information technology at Morning Pointe. Explore the case study with Morning Pointe Ready to see more of Morning Ponte’s success? Read this short client spotlight, then explore the full case study. Have questions for us on RentCafe Senior CRM? Reach out to team Yardi...

Did you know that Movember’s impact is felt globally, with more than 1.3 million men diagnosed with prostate cancer every year and over 415,000 men succumbing to the disease? This movement’s influence goes beyond men’s health awareness. Let’s delve into the history, success, and tangible effects of Movember, from the research breakthroughs it funds to the grassroots initiatives it supports. No Shave November Movember is not just an event. It’s a global movement. It’s an annual event that takes place in November. Men worldwide grow mustaches to raise awareness and funds for men’s health issues. It began in Melbourne, Australia, in 2003 as a lighthearted challenge among friends to bring back the mustache, but it quickly transformed into a movement with a mission. The founders saw the potential to raise awareness for men’s health, including prostate cancer, testicular cancer and men’s mental health issues. Since then, Movember has grown into a global campaign, engaging millions worldwide and generating funds for research, health programs and advocacy. In 2007, Movember officially launched in the U.S. in partnership with the Prostate Cancer Foundation (PCF) and two years later, it added the LIVESTRONG foundation. Both foundations have been significant partners with the movement and have had successful patients and stories. Over a thousand men’s health projects have been funded since 2003. Research breakthroughs with the Movember movement have been astronomical, and soon, men with an aggressive form of prostate cancer could quickly benefit from a revolutionary drug. Scientists are confident that breast cancer drug Olaparib extends the lives of men who have cancer cells with faulty DNA repair genes. Movember has raised over $911 million since 2003 to support men’s health projects. Last year, in 2023, it raised over $128 million with various projects, including workshops that teach mental fitness to young men and funding for the early development of Pylarify. This imaging agent can help determine if prostate cancer has spread. Men with advanced prostate cancer are not only at greater risk of cancer death but also suffer poorer quality of life and adverse events due to their cancer and therapies. Movember and Mental Health Unfortunately, around 15 million American adults will be diagnosed with depression each year. In a world that often values stoicism and suppresses vulnerability, men can usually face unique challenges when working on their mental and emotional well-being. Stereotypes and societal expectations can create an environment where opening up about feelings and struggles becomes a daunting task for men, sometimes with devastating consequences: untreated mental disorders and physical health conditions, strained relationships, and an overall diminished quality of life. According to the Centers for Disease Control and Prevention, the suicide rate among American men is about four times higher than among women. Women are more likely to attempt suicide, but men are more likely to succeed. Men are also far less likely to seek treatment and support for mental health issues. Some individuals may turn to drugs and alcohol as a way to cope with different symptoms of their mental disorder, leading to substance abuse issues and the potential consequences that can arise as a result. The Movember Foundation is not just about raising funds. It’s about challenging norms. By using the mustache as a catalyst, Movember aims to change how we think about men’s health. It encourages open dialogue and gives men the confidence to learn, talk about their health, and take action when needed. Movember has successfully challenged traditional notions of masculinity that often discourage men from discussing their health issues. Women can support men during Movember by becoming a Mo Sister. Mo Sisters can raise awareness by moving 60 miles during the month to represent the 60 men who die by suicide each hour. Lives Touched While many success stories have existed since Movember started, individuals have supported the movement beyond November. This past summer, Anil Toraty, senior director at Visa, carried the Olympic torch in Sens, France, symbolizing hope and resilience. His...

Yardi’s Advanced Solutions Conference (YASC) returned to Canada today, bringing together clients, partners and Yardi team members for an immersive experience in Toronto. The event’s general session highlighted Yardi’s ongoing commitment to the Canadian real estate market, covering Yardi’s journey in the industry, the latest AI-powered solutions and the upcoming Voyager 8. A strong foundation for growth Yardi Canada’s vice president and general manager, Peter Altobelli (pictured, right), opened the general session by acknowledging the year-long planning and immense efforts involved in making YASC Canada a success. “We are focused on education, networking and partnering with you today and for the long term,” Peter remarked, emphasizing Yardi’s commitment to its clients’ growth and success. Reflecting on Yardi’s journey in Canada, Peter highlights the company’s gradual expansion, which began with just five staff and grew to over 500 employees across three Canadian offices. “As our clients grow, we grow and our relationship remains strong,” he shared, illustrating the mutual commitment between Yardi and its Canadian clients. He also highlighted the impact of Yardi’s Saskatoon office, home to a team of 75 who develop products for global clients, reinforcing Yardi’s dedication to innovation and service. Embracing the future with a focus on service Kevin Yardi, vice president of Yardi, provided insights into Yardi’s product roadmap, reflecting on the company’s readiness to embrace the next technology transition with AI. “We’re aligning our products to meet your end-to-end business goals,” Kevin shared, noting that while the business logic remains consistent, Yardi’s enhanced functionality and user experience continue to evolve with client needs. AI-powered innovations: transforming property management Akshai Rao, president of residential at Yardi, took the stage to introduce Yardi’s newest AI-driven solutions, aimed at enhancing operational efficiency and creating a seamless user experience. With Virtuoso AI, Yardi is pushing the boundaries of property management by automating complex tasks, providing actionable insights and embedding collaborative tools to streamline workflows. “Our goal is to make your day-to-day easier by embedding AI directly into the solutions you use daily,” Akshai explained. Through Virtuoso, teams can stay aligned by tracking essential interactions and focusing on the 10% of tasks that demand more time and attention. This enables organizations to operate with precision and efficiency, empowering teams to make impactful decisions. The next chapter with Voyager 8 In line with Yardi’s focus on innovation, the session introduced Voyager 8, a reimagined platform focused on enhancing user experience for all roles, from executives to team members. Akshai highlighted how Voyager 8’s updated interface streamlines engagement with platform data, making it simpler for everyone to access and utilize critical information. “It’s about making things easier for your users and organization,” he explained, underscoring Yardi’s dedication to accessible, role-based apps that empower everyone from leasing agents to executives. First day of YASC: a future worth looking at With this year’s YASC Canada, Yardi showcased not only its dedication to innovation and client success but also its unwavering support for the communities it serves. Stay tuned for more insights from this inspiring event as Yardi continues to drive positive change in the Canadian real estate...

Value-based care (VBC) is an important topic for today’s senior living providers — but why? What is it, how does it impact you and why implement it now? We’re pleased to sponsor a brand-new white paper, published by Argentum, that delves into all of the above. Keep reading for a highlight of the informative resource (featuring insights from our director of health care solutions and VBC expert, Fil Southerland). What is value-based care? Value-based care (VBC) is a health care model grounded in providing proactive, personalized and person-centered care. More specifically, providing this level of care to improve resident health outcomes and increase operational returns. Unlike traditional fee-for-service models that reimburse providers based on the number of services provided — rather than the effectiveness of those services — VBC reimburses based on the quality of care provided and optimal resident health outcomes. Hear from an industry expert Argentum interviewed Fil Southerland to gauge where the industry is headed — and help providers understand how to maximize their success in adopting VBC.  “Providers need to feel confident, number one, in their technology stack,” shares Southerland in the white paper. “VBC requires coordination and insight on a level that isn’t possible or scalable in a paper-based or disparate electronic solution.” Read the white paper to get all of Southerland’s insights. Assessing VBC in today’s landscape While VBC has gained traction in recent years, the growth in the last 12 months has been the most significant — with more senior living providers implementing VBC than ever before.  This acceleration is based on a variety of factors, including the prevalence of truncated margins and increased care costs in today’s communities, as well as goals to target the middle market and improve staff retention through proactive care. VBC is also strongly supported by policy initiatives, particularly those led by the Centers for Medicare & Medicaid Services (CMS). CMS has set the goal of having 100% of Medicare and the majority of Medicaid beneficiaries tied to VBC by 2030. How does VBC affect today’s providers? Senior living services enable a fundamental, positive impact on health outcomes and therefore, the bottom line for providers receiving Medicare reimbursement in VBC arrangements. Senior living providers can choose to actively participate, or allow the value they deliver to accrue exclusively for health care providers.  How does technology support VBC? With effective technology solutions in place, senior living providers are uniquely positioned to provide VBC. Since multiple technology elements are needed to support VBC, opting for a single-stack, interoperable solution like the Yardi Senior Living Suite can be optimal since tools are integrated and accessible from one platform. With Yardi, you can: Facilitate vertically and horizontally integrated clinical and operational data flow with an electronic health record solution. Assess clinical trends and population health with business intelligence software. Enhance resident engagement and reduce social isolation with wellness management tools. Read the white paper in full Read the entire white paper for a better understanding of value-based care, why it’s relevant and how providers can get started. If you have questions about the Yardi Senior Living Suite, reach out to our...

Yardi-supported nonprofit Lowell Transitional Living Center (LTLC) is the largest shelter north of Boston that provides services to over 100 individuals daily. Located in Framingham, MA, established in 1987, it is a shelter that offers clients transitional living, three meals a day, laundry facilities, and showers.  It also operates many programs, including a Diversion Program and the region’s only Winter Emergency Bed Program. “Our mission is to help individuals go from homeless to housing by providing case management support and offering individualized plans that suit our client’s needs,” said Debra Leary, senior development manager at LTLC. LTLC continues to find permanent supportive housing (PSH) for its clients, which is no small feat, given that the price of housing in Lowell is rising. As an organization, LTLC will continue to work and grow its PSH program to help those most in need. Funding from Yardi helps LTLC lift the negative stigma associated with homelessness and helps them work hard with kindness, encouragement, and support that go a long way to change someone’s life. “We are so very grateful for the continued support and generosity of Yardi Systems. Without companies and donors like Yardi, LTLC would be unable to operate,” said Leary. She continued, “It is not easy to put into words just how impactful it has been to have the support of Yardi Systems over the last few years.  LTLC is extremely grateful for all you have done and continue to do. We are so very grateful; your generous gift makes a huge impact on us.” Rebuilding Bob Bob understands why some people are reluctant to stay in a shelter if they lose their home because that’s how he felt when he and his roommates were evicted from a shared apartment early in the pandemic. Pride and concerns about the shelter environment kept him from seeking assistance, and he got by sleeping in his taxi or at the dispatch office. But after a month on the street, he decided to set aside his pride and ask for help at LTLC. What happened next surprised him. Bob was placed in the LTLC dorm and assigned a case worker, who began helping Bob rebuild his life. LTLC’s Low Threshold Permanent Supportive Housing Program quickly found a studio apartment and helped him furnish it. His case worker got him into a rehab program to help kick an addiction to painkillers that he had developed following an earlier surgery and signed him up for Social Security disability insurance. That extra income added to his earnings as a cab driver and made it possible for Bob to afford an apartment without Section 8 assistance. Bob knows his life would not be what it is today without LTLC. “The shelter is a great stepping stone,” Bob says. “The case managers are people’s people; they really care and help. Rebuilding is hard. I wouldn’t have made it without the program.” Bob’s story is just one of many demonstrating the life-changing impact of LTLC’s programs. “It has been a joy to see so many clients of ours get themselves back on their feet with the help of our case managers,” explained Leary. Volunteer Opportunities Lowell Transitional Living Center offers several volunteer opportunities. LTLC seeks volunteers to help at its Steps to Home Walk on September 14. Volunteers will follow the course to direct people, help with registration and guide people to the ice cream social. In addition, LTLC offers volunteer work by organizing at its donation center, serving meals to clients or hosting a toiletry drive. Those interested can reach out to Debra Leary at [email protected]. Find future non-profit profiles at https://www.yardi.com/blog/category/giving. Yardi is Energized for Good! Visit www.yardi.org for more about our philanthropic...

Like almost every other aspect of CRE operations, construction management is undergoing digital transformation. Getting real-time insight into the actual performance of projects against budget and being able to compare jobs based on various metrics is only possible with a connected software solution. Integrated construction management software can help with efficient data access, communication, collaboration, resource management, regulatory compliance and asset health checks. What else can construction management software do to deepen insight and streamline processes? For Healthpeak Properties, manual document review and reconciliation of tenant improvement allowances previously took 80 to 120 hours per month. Using Yardi Construction Manager, they are now executed with the click of a button. And that’s just one of the benefits the company reports. Integration issues solved Centralizing projects and all portfolio data on a single platform is a best practice. Relying on multiple databases and manual data entry before adopting Construction Manager prevented Healthpeak from easily tracking its commitments and generating reports on tenant improvement allowances. Bryan Schuh, construction accountant, shared, “We had integration issues with other systems. There were always errors, missing items and time wasted on manual reconciliations.” Enhanced tracking and planning Automated workflows make it easy to track change orders and the status of payables against commitments with one click. According to Schuh, that provides a big advantage over the previous manual process. Further, it’s much easier for the company to set up projects in the system.Construction Manager also enhances visibility into Healthpeak’s capital planning. Project managers can easily see which projects have been approved, and centralizing all portfolio information in one readily accessible database has helped the company extend its capital planning from five years to ten years. More efficiency with deal and forecast integration The integration of Construction Manager with deal and forecast management tools (Yardi Deal Manager and Yardi Forecast Manager) further streamlines the revenue lifecycle by enabling clients like Healthpeak to accurately assess and track project costs and timelines. Construction Manager houses monthly/quarterly/yearly job forecasts based on real-time projected final costs and capital expense projections for future years. Project managers quickly and easily create or update job forecasts spreading cost to complete over linear, front-loaded, back-loaded or normal curves. For Healthpeak, automatic population of deal abstracts into Construction Manager from Deal Manager saves many hours of time previously spent on error-prone manual data input. “This integration produces better budgeting and gives us a more accurate portrayal of our project commitments,” Schuh said. “It has saved a lot of people a lot of headaches and prevents us from overpaying on commitments.” Learn more about Yardi Construction...