Continuing steady demand signals stability for the U.S. self storage sector even as street rates declined in January, according to the February 2023 National Self Storage Report from Yardi Matrix. Year-over-year street rates for 10X10 non-climate-controlled units slid by $7 to $126 in January, a 2.3% drop from their peak of $133 in the summer of 2022. Only five of the top 31 metros tracked by Matrix recorded rate growth in January. Despite this typical seasonal slowdown, “average street rates [for climate-controlled and non-climate-controlled units] remain healthy compared to historical levels,” the report says. The new-supply pipeline increased by 10 basis points month-over-month in January, accounting for 3.7% of completed inventory. In 2022, the number of households using self storage reached 14.5 million, an increase of about 970,000 since 2020. “As a result of the record demand, the self storage sector appears to be well-positioned to withstand potential economic headwinds in 2023,” according to the report. Get the latest on self storage supply, rent trends and more in the new Yardi Matrix report. Get even more details in a webinar on March 1. Yardi Matrix tracks 4,626 self storage properties nationwide in various stages of development. Matrix also maintains operational profiles for 29,072 completed self storage facilities, bringing the total data set to 33,698. 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...
Yardi Gras 2.0
Laissez les bon temps rouler
As they say in New Orleans, “laissez les bon temps rouler,” which means let the good times roll! Mardi Gras is back in full swing this year, but two years ago it was canceled due to the pandemic and the creative, socially distanced tradition of Yardi Gras started. Historical Tradition, Reimagined Originally, Yardi Gras, as city officials of New Orleans called it, began as a fundraiser. The Krewe of Red Beans sought a way to help the artists who create the city’s typically over-the-top parade floats. But, with no parades, no income was coming in. After publicizing the fundraiser; the idea gained grassroots traction – often on grass. As a result, there were more than 3,000 “house floats” at individual homes around New Orleans and beyond in 2021. Today, however, parades with massive floats are back to running the traditional routes, but many individuals are sticking with Yardi Gras and making their homes into house floats. A house on State Street near the Audubon Zoo in New Orleans is decorated with animals to reimagine the zoo. Yardi Gras beyond LA Who says Mardi Gras can only be celebrated in New Orleans? Many have caught onto the tradition of decorating their homes with purple, green, and gold outside Louisiana and calling it Yardi Gras. From Georgia to Oregon and beyond, house floats are popping up. Pictured here is a house in Northern Georgia with the traditional Mardi Gras Indian reflection. In Vicksburg, Mississippi, they celebrated in the Historic Fostoria neighborhood for their third annual Yardi Gras. “Instead of the floats going by and throwing things, people are going by giving donations to a non-profit, and we (homeowners), in turn, hand out beads and doubloons,” said Launo Moore, event organizer. In the past two years, Moore...
India Sponsorship Committee
Supporting Children
Yardi is committed to supporting the community in every city where our offices are housed, worldwide. Each year, Yardi offices distribute philanthropic aid to organizations selected by regional employees. The India Sponsorship Committee (ISC) of Mumbai, Maharashtra is a Yardi-supported NGO founded in 1967 that supports the protection of children and gender-based rights. ISC also aids in learning enhancements for children from vulnerable communities. For the last 15 years, ISC has focused on the children of migrant labor groups living around the city of Pune, where Yardi’s India office is located. ISC will prioritize the following in the year to come: Program quality benchmarking Technologically enabled operations Collaborations and partnerships Organizational performance Real estate optimization and environmental sustainability Sustainability in fundraising “We have aligned and shared values with Yardi in terms of ensuring impact in the vulnerable communities through direct, consistent, and effective intervention, which need a continuous response to the changing environments, especially in learning and technology,” said Medha Oka, executive director of ISC. Yardi has been an ongoing supporter and advocate of the work of the India Sponsorship Committee. “Yardi’s commitment towards the children from migrant and vulnerable communities is inspiring and admirable. The team has always been collaborative towards ensuring greater impact with consistent discussion, inputs and innovative solutions,” Oka said. Advocating for education Most families working in the brick kilns of India are vulnerable migrant laborers. Almost 70 percent of the children frequently migrate with their families and don’t get access to formal education. ISC focuses on bridge classes, protection from child labor and other child rights violations, and providing daily nutrition for all children. “Of the 30 percent of children who can stay back in one brick kiln for longer, ISC successfully enrolled them in mainstream schools over the last eight years. Currently, over 140 children attend ISC learning centers; 46 among them attend primary and middle schools, while five attend high schools. These children are often first-generation schoolers breaking the cycle of generational illiteracy and exclusion,” shared Oka. ISC supports its ongoing education through consistent support classes, innovative learning aids, and dedicated delivery teams. The children’s academic journey would not have seen this change without the changing attitudes of the parents, who have, over time and through consistent engagement with ISC, understood the positive impact of formal education. As a result, they are now an active supporter and participants in their children’s lives. The nearby schools and local government bodies that once resisted school admission of these children due to biases and structural inequalities have now become advocates of the program. “We at ISC have a unique journey for our beneficiaries where the child is supported from the age of six until they are able, capable, contributing and responsible citizens of the society,” Oka said. Volunteering opportunities ISC has ongoing volunteer and employee engagement opportunities to work directly with children and provide skills to enhance program implementation. To explore more synergies and opportunities, please get in touch with them at [email protected]. Find future non-profit profiles...
Marcus Rutherford
Yardi Employee Profile
Marcus Rutherford, a senior corporate trainer in the Yardi Raleigh office, has worked at Yardi for eight years. He started as a technical account manager, then transitioned to his current role as a senior corporate trainer. “Most of my days are spent introducing new employees to our company, culture, and products. As a corporate trainer, I train new employees on Breeze, accounting, residential, commercial, and system administration training on Yardi’s flagship program Voyager,” said Rutherford. When Rutherford is not training new employees, he is training himself on topics, working on various candidate certification programs, and reviewing Aspire courses as a subject matter expert before they are released. Foundation development Rutherford enjoys being one of the first people new employees meet during new employee training. “I pride myself in being a model employee and strive to give every new employee a great foundation to grow from within their new job role at Yardi,” shared Rutherford. Teamwork collaboration is something that Rutherford appreciates that Yardi strongly promotes. The corporate training team achieves so much working as a team rather than individually. “As Gestalt would say, ‘The sum of the whole is greater than its individual parts,’” he quoted. Rutherford also enjoys being invited to present at industry conferences. “My last presentation was for the IRO Summit, where I presented basic accounting for property managers. The recording made it to Yardi’s YouTube channel and has 13,000 views and counting!” See his presentation here. For a new hire seeking employment at Yardi, Rutherford describes Yardi as a great organization to join. “Yardi is a place where you are rewarded for sharing your knowledge with others around you. When in need, a coworker is one call or message away to assist. If you’re a person who thrives on learning something...
Earthquake Relief
Supporting Turkey and Syria
Yardi has contributed a total of $1 million to four non-profit organizations working in Turkey and Syria to provide humanitarian relief after the catastrophic earthquake last week. The four organizations receiving support are: Direct Relief: Direct Relief is deploying medical supplies from its facilities in the U.S. and Europe for Turkey and Syria. More than 22 tons of medical aid has been staged or is being shipped for Turkey and Syria since the earthquake began. Items include medication to treat people with injuries and pre-existing medical conditions as well as hygiene items for those displaced. Doctors Without Borders/Médecins Sans Frontières (MSF): MSF teams responded immediately in northwestern Syria because the organization has an ongoing presence in the region. MSF-supported hospitals in the region have seen more than 3,500 injured patients. MSF has also donated emergency kits, trauma kits, medical supplies, and blankets to 30 hospitals and health facilities in Idlib and Aleppo governorates. World Central Kitchen: Alongside regional partners, World Central Kitchen has been distributing meals for survivors and first responders. Its teams were able to reach communities near the epicenter two days after the quake and have been providing sustenance continuously since. Red Crescent/Global Red Cross: Thousands of Red Cross and Red Crescent responders are on the ground providing blood products, millions of hot meals, emergency temporary shelter, medical care, emergency aid supplies and mental and emotional support to people in need. “Disasters of this magnitude require global support and we feel fortunate to be able to assist financially in the recovery efforts,” said Anant Yardi, founder and president of Yardi. “These four organizations are doing incredible work to support the victims of the earthquake in their time of...
Meet Yardi Energy
For Senior Living
Did you know that by 2050, the total number of adults ages 65 and older is projected to rise to 85.7 million, roughly 20% of the U.S. population? Delivered by America’s Health Rankings, this data reveals the growth of the aging population (taking into account that we’re at 54 million seniors in the U.S. today). So how does this relate to senior living operators? Simply put, as the aging population continues to grow, the number of seniors residing in communities will likely increase. This affects more things than one, including energy consumption in these communities. More residents, expanding properties and increased services equals more energy use. And without technology built to monitor that consumption and identify areas for improvement, senior living operators face heightened costs. Fortunately, leading solutions like the Yardi Energy Suite equip you to reduce costs and enhance efficiency all while meeting state, county and local benchmarking regulations. We’re excited to show you around this single connected solution below, but you can view our Yardi Energy guide for even more insights. The rise in energy consumption As we’ve covered, with more seniors living in communities, energy consumption will naturally increase. But monitoring consumption — and strategizing ways to save energy and reduce costs — isn’t easy. That is, without technology to lend a hand. In fact, the average building wastes roughly one-third of the energy it consumes, according to the United States Environmental Protection Agency. This could be a result of not having the right solution in place to track consumption and identify savings opportunities. How to save Energy matters in senior living. With the right technology solution, you can save big time and boost efficiency all while meeting state, county and local benchmarking regulations (there are over 40 jurisdictions with mandatory...
New! Yardi Verification Services
Helping affordable housing providers
Reimagining core affordable housing processes is a high priority of Yardi’s development, support and services team. Our goal is to make compliance faster, easier, more cost-effective and sustainable. If we achieve that, then we’ll have made it easier for households to find, apply for, and move into affordable housing units. Faster verifications and move-ins mean fewer days vacant, more operating revenue and greater opportunity to serve more households in affordable housing communities. Yet, challenges exist that make it more difficult now for affordable housing providers to carry out their missions. Finding, training and retaining talent capable of navigating the complexities of compliance is a commonly cited barrier that affordable housing providers are trying to overcome. That’s where automated, professional services can help affordable housing providers make compliance faster, easier and more cost-effective. Reimagining Affordable Housing Verifications Qualifying for an affordable housing apartment is almost always based on the income and assets of an applicant household. The process is traditionally completed by housing specialists employed by affordable housing providers. They generate verification forms for employers and banks to complete, then work to ensure the information their applicants have shared about their household finances is verified and accurate. Studies show that process can take more than an hour of combined staff time, and up to a month or more to complete. It’s expensive, time-consuming, and relies on many steps to verify actual income. Now, there’s a new way. Yardi Verification Services is the latest innovative additions to the Yardi Affordable Housing and Yardi PHA suites. The automated solution makes verifying income and assets more affordable, more accurate and much less of a workload for on-site staff. Yardi’s strategic partnerships with several sources of financial data makes it possible for affordable housing operators to receive income and asset verifications much faster than doing the process manually. In most cases, verifications will arrive within minutes. Yardi Verification Services, only available to Yardi clients with a license for RentCafe Affordable Housing or RentCafe PHA, is a digital, paperless and hands-free process. There are no manual forms to fill out, and no waiting around for employers and financial services companies to complete and send back. Once a household begins a certification in RentCafe, they can consent via email or text message to having their income and assets verified by Yardi Verification Services. The housing provider’s on-site team receives the household’s verifications directly into RentCafe and records the verified totals to complete the certification. “I’ve worked for decades creating technology solutions with the ultimate goal of reducing the cost and complexity of affordable housing compliance. Yardi Verification Services is high on my list of products that accomplish that vision,” said Chris Voss, Yardi vice president of affordable housing sales. Affordable housing providers can learn more about Yardi Verification Services by joining an upcoming webinar. Yardi clients can also call (800) 866-1144 to reach their sales representative to schedule a free demonstration. Visit yardi.com for more information or download a...
Towne Properties
On REACH SEO & PPC
Michael Wilke is the marketing strategist at Towne Properties. When he joined the company in 2014, Towne was dependent on ILS advertising for leads and leases. Towne’s property sites didn’t have online leasing yet. In his current role, Michael has worked with the rest of the marketing team to modernize Towne’s online user experience to meet shifting renter expectations. When Towne shifted its strategy to include online leasing via RentCafe websites, it realized its property websites convert leads at a better rate than ILSs. Take a look at Towne Properties’ award-winning websites. As a result, Michael started looking for the most effective and cost-efficient ways to drive traffic to Towne’s websites. The challenge Towne’s RentCafe property websites were converting at a better rate than ILSs, but they needed more leads. Michael knew how to set up Google Ad groups, but he felt like he was just scratching the surface of what was possible. And he didn’t have the time to maintain and optimize campaigns for every property. Ultimately, he and the Towne team decided to get expert help. The solution When looking for a marketing partner, the REACH by RentCafe digital marketing agency stood out. Since Towne uses Yardi and the agency is a part of the Yardi family, Michael knew that integration would be simple and data would be clean. Towne enlisted REACH search marketing experts to optimize their websites and set up ad campaigns quickly. More importantly, Michael said, “[REACH experts] have the expertise that we don’t have. That became clear during the setup process. They were going over all the things they were going to do for us, the dedicated teams for search marketing, creative and more.” REACH SEO results Thanks to ongoing search engine optimization, Towne’s websites are getting more traffic that converts into...
Improving Lives
For Fort Worth Families
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. Center for Transforming Lives in Fort Worth, Texas. Center for Transforming Lives (CTL) works side-by-side with women and their children to disrupt the cycle of poverty by providing comprehensive housing services, early childhood education, economic mobility services, and clinical counseling, addressing their most critical needs. Each year, CTL works with over 3,000 people in Tarrant County to provide comprehensive services that support their journey from poverty to prosperity. CTL’s services are trauma-informed, two-generational, and incorporate best practices rooted in nationally backed research to ensure women and children achieve long-term success. In 2021, in partnership with The Center for Children’s Health led by Cook Childrens’ and other generous donors, CTL conducted surveys with families living in motels or extended stay properties throughout Tarrant County. Seventy families were surveyed on-site at motel locations. The findings of the survey included: One-third of families surveyed had been living in a motel for more than 6 months Single-parent women represented the majority of families surveyed 67% of families were paying rent on a weekly basis and 17 percent were paying one night at a time “In order to fully address the issue of homelessness in Tarrant County, our systems must look at the needs of these families living in motels when allocating funds and developing programs. At CTL, our comprehensive programs are trauma-informed, two generational, and incorporate best practices rooted in nationally backed research to ensure women and their children achieve long-term success,” said Carol Klocek, CEO of CTL. Shicoviya, a single mother with three children, struggled until she came to the Center for Transforming Lives. Onia’s Story Four years ago,...
Start Your Digital Transformation
Senior Living White Paper
Ever heard the term digital transformation? According to a recent white paper by LeadingAge, the concept is critical for senior living operators to understand — as it offers a way to reimagine how they run their communities. There’s a lot covered in the resource, so we put together a quick summary below! Read on to learn what digital transformation means, why it matters in senior living and how you can maximize your potential with this information in mind. Digital transformation defined First things first, what is digital transformation? LeadingAge defines the term as follows: Digital transformation is the process and journey of using digital technologies to create new — or modify existing — organizational processes, culture and resident/staff experiences to meet changing business and market requirements. While technology platforms are a key element, digital transformation is more than installing a single solution. It begins and ends with how you think about, and engage with, residents and staff. In relation to senior living, LeadingAge says that digital transformation is critical to the future sustainability of operators. Why is digital transformation critical? LeadingAge explains that various factors make digital transformation critical for today’s senior living organizations. One key factor is the industry-wide staffing shortage, which is driving the need to abandon manual processes and opt for digital workflows to ease staff burden. Looking at the big picture, shifting to a digital system helps operators boost productivity, reduce costs, improve resident and staff experiences and so much more. Especially when digital workflows unite on a single platform, like the Yardi Senior Living Suite. How can senior living operators navigate a digital transformation? The white paper — Digital Transformation in Aging Services — outlines how senior living organizations can transition to digital workflows with three key elements in mind. These elements (the three Ps) include people, process and platforms. Starting with people, LeadingAge states that a successful digital transformation is largely dependent on your existing personnel and stakeholders. You need to assess their digital skills and understanding, provide clarity on what role they’ll play in adopting new technology and decide what training is needed. Outside of internal people like staff, the white paper reveals that external people — such as family members and volunteers — also play an important role in digital transformation. Next up is process, more specifically identifying, analyzing and improving existing processes. The white paper shares how taking a closer look at processes helps operators eliminate weak points in their current operations, as well as: Improve productivity, efficiency, utilization and quality Reduce operational budget by effectively using assets and resources Eliminate waste and duplication of tasks Reduce friction in business processes Improve the staff and resident experience Reduce process completion time LeadingAge also shares a few questions operators can ask themselves when looking at processes, such as: How can we employ digital technology to standardize and automate processes that are repetitive and redundant? How can digital technology help us organize data to provide faster, more accurate and more predictive views on our business? How do we leverage digital technology to generate and act on meaningful customer insights that can help improve our services? The last element introduced is platforms, otherwise referred to as technology. Simply put, the platform/technology element provides the actual tools that operators need to go digital. Yardi senior living solutions When it comes to the third element outlined by LeadingAge, the technology itself, it’s important to find a solution that’s built for the unique needs of senior living. Also, one that offers tools that integrate with one another to ensure you maximize efficiency at the highest level. The Yardi Senior Living Suite does it all, combining everything you need on a cloud-based, centralized platform. It’s built for operators of all types and sizes and includes tools for financials, marketing, care and more. Explore the Yardi Senior Living Suite. Read the white paper If you’re ready...
Rents Hold
Yardi Matrix Market Report
Multifamily rents were flat in January as a strong jobs report indicated that fears of a significant economic recession may be overblown. U.S. asking rents averaged $1,701, unchanged from the prior month, according to the latest Yardi Matrix National Multifamily Report. Continuing late 2022 patterns, year-over-year growth continues to decline, and is now 5.5 percent, down 70 basis points from December. The single-family rental (SFR) market remained strong amid ongoing volatility in home sales. The average U.S. asking rent increased $1 in January to $2,070, while the year-over-year increase fell by 85 basis points to 4.2 percent. “Participants at the late January National Multifamily Housing Council conference in Las Vegas were generally optimistic about demand fundamentals, but concerns centered around issues such as the wave of proposed rent control measures, increasing expenses and high mortgage rates,” say Matrix analysts. However, the creation of 517,000 new jobs in January is a significant bright spot and help ease fears of an imminent economic downturn. The unemployment rate dropped to 3.4 percent last month and wage growth shows no signs of spiraling. “Concerns about a hard-landing recession that would reduce household formation are being alleviated by the continuing stellar performance of the job market,” states the report. Gain more insights by downloading January’s Multifamily Report. Last year, U.S. multifamily rents increased by 6.4 percent after peaking near 16 percent in 2021, according to Yardi Matrix. Those were record figures, the highest seen in a century. The 2023 Yardi Matrix Multifamily Outlook expects that rent growth will be closer to its historical average in 2023. 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,...
Multifamily Marketing Meets AI
Quality systems are key
The multifamily industry has many options when it comes to solutions that claim to deliver optimal results for both clients and renters. But which ones actually do? According to Multi-Housing News, the answer lies in automation and artificial intelligence. Chatbots powered by natural language and AI that extend beyond predetermined conversations, for example, offer communities the chance to create meaningful online engagements, all while increasing conversions and advancing innovation. But not all prospects want to engage with a chatbot — at least not at first. You need to be aware of how leads find your website, and understand that real engagement — the kind that converts — might be infrequent. So when it comes to using AI-based systems for multifamily marketing, aim for quality over quantity. Check out an excerpt: “The visitor has to hit the website first, and they have to elect to engage,” Paul Yount, industry principal at Yardi, explained to Multi-Housing News. “There’s a fairly large segment of the population that doesn’t want to engage with a chatbot; they know it’s a machine, and they think that it won’t be helpful.” Overall, the quality and reliability of leads matters infinitely more than the number of engagements, something facilitated by an acute use of automation. RentCafe Chat IQ is an AI-powered bot that features active, engaging responses, such as automated email responses and phone calls. “You really have to go beyond the chat for both business and operation efficiency and make sure that you’re getting consumers from all those different channels,” Paul Yount detailed. “The volume of chat is notably lower than email and web leads…much lower than phone calls, emails and potentially [text-based] leads. Consequently, such engagements significantly enhance lead quality and potential.” Two things change the game for good when it comes to converting prospects and keeping residents happy with a chatbot: natural language processing and omnichannel features. Let’s dive in on what makes each so important. Natural Language Processing A chatbot that can overcome casual language, spelling errors and grammar mistakes can simulate a more humanlike conversation. Natural language chatbots open opportunities of flexible conversation, enabling customers to ask questions pertaining to policies, schedule tours and ask much more in their own way, compared to chatbots that limit customers with predetermined questions. This enables your chatbot to deliver personalized customer service, meeting your customers where they’re at, every time, no matter when they reach you. Omnichannel Features More often than not, leads slip through the cracks because their initial inquiries were ignored. According to Yount, “Nobody says, ‘If only we had more leads!’ You don’t have a lead quantity problem; you have a lead quality and qualifying problem, one where the leasing team simply can’t handle all the inbound communication.” But keeping a tight grip on inbound communication is possible. How? With a smart bot that can field questions across multiple channels. A bot that can automate responses to emails, texts, chats and calls frees up your staff and increases the possibilities of gaining quality leads. Next Steps Interested in the future of multifamily chatbots? Read the rest of the article to find out more about how automation and AI-driven chatbots can help you convert prospects, take care of residents and save staff...
Oksana Goliak
Yardi Employee Profile
Yardi’s global offices help property managers, owners and investors succeed worldwide. Journey with us to the Middle East and meet Oksana Goliak, office manager of the Yardi Dubai office. Meet Oksana Goliak Goliak has been working at Yardi for eight years. As the office manager, she ensures that the office operates smoothly with over 65 employees. In addition, she is involved with human resources responsibilities, works closely with senior directors, and retains employee happiness and engagement. “My workday routine varies daily. I am involved in many roles such as office management, supplier relations, Human Resources, the IT department, purchasing, employee engagement and team building, to name a few,” said Goliak. Goliak enjoys Yardi’s corporate culture, work environment, colleagues, and Yardi inspirational leaders in how they encourage employees. “We follow our corporate mission and vision. It helps us achieve the goals we set, and spreads the word that Yardi is a reputable organization where people enjoy working,” shared Goliak. Teambuilding confidence Goliak likes that Yardi appreciates employees’ hard work, acknowledges performance, values contribution, and understands challenges while keeping a happy culture. Even during the pandemic and lockdown, Goliak could engage with her team via online platforms and still have regular team-building activities. Employee activities are encouraged with corporate and management support. “I am proud to say, our Dubai team has virtually climbed the highest mountain peak, Everest, we run through the Amazon Forest, and have explored The Great Wall of China. And now we’ve launched monthly sports challenges called Yardi Sports League, where employees can participate and play in the teams. So far, we have had a football tournament, badminton, volleyball, and cricket, and in February, we are preparing for a basketball game,” enthused Goliak. Since working for HR, Goliak has received much feedback during...
Pest Defense
Keeping Bed Bugs at Bay
A feature on bed bugs was one of the most popular postings in the early years of The Balance Sheet. With higher post-pandemic travel volume, resistance to pesticides and other factors increasing the pest’s numbers in the U.S., this seems like a good time to revisit the issue. What are bed bugs? The common bed bug is a crawling, 5-millimeter-long oblong insect that feeds on human blood and causes itchy welts. Documented in the U.S. since Colonial times, bed bugs were largely eradicated by the 1950s but came back in the late 1990s due to rising international travel and a lack of public awareness about pest prevention. Where are they found? Just about everywhere. A National Pest Management Assn. survey in 2018 reported that single family homes, apartments/condominiums and hotels/motels are bed bugs’ most common targets. They can hide in couches, bed frames, luggage, stuffed animals, purses and even lamps. They’re also present in nursing homes, schools, daycare centers, libraries, offices, college dorms, hospital and public transportation. In office buildings, they can lurk in cubicle dividers, underneath raised floors, beneath alcove moldings, in folders and in computers and other equipment. Is there any good news? Yes, sort of. Bed bugs don’t transmit or spread disease, latch onto skin, form colonies or nests (although they do aggregate), fly from host to host, damage building structures or live in human hair. And the presence of bed bugs is no reflection on a property’s cleanliness. They feed on blood, not filth. “They’re not cockroaches. They don’t feed on debris. You could have a pristine environment and they could still get introduced,” says Mike Potter, an entomologist at the University of Kentucky. Best of all, bed bugs’ presence can be curbed with the right measures. Such as? Here...
Minnie’s Food Pantry
Red Carpet treatment for families
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. Let’s learn about Minnie’s Food Pantry of Plano, Texas, founded in 2008. Minnie’s Food Pantry provides healthy meals, educational resources, and red-carpet treatment to children and families in need across North Texas. In addition, families can receive support and life necessities at Minnie’s Boutique, allowing shoppers to pick up home-based items that they may need that are outside the usual food pantry offerings, such as toiletries, home cleaning products, and more. In April, Minnie’s Food Pantry will celebrate 15 years of service. “Over the last decade and a half, Minnie’s Food Pantry has provided over 21.5 million meals to children and families in need across North Texas, having been recognized as the leading food pantry in Collin County and the #1 Food Pantry in DFW,” shared Zoya Jackson, COO. This year, Minnie’s Food Pantry plans to continue providing for families in need with supplemental food assistance, including non-perishable goods, fresh meats, fresh produce, bakery items, and dairy products, along with toiletries, home goods, baby products, clothing, and other necessities through Minnie’s Boutique. Funding from Yardi allows Minnie’s Food Pantry to continue the programs and services they have in place to meet the needs of those they serve. “This includes serving families via our Feed Just One program every Wednesday-Saturday, delivering to schools and senior living facilities across North Texas to provide for the most vulnerable in society, seniors and children, and making an impact on our VIP (homeless) communities,” said Jackson. In addition, the generosity of Yardi provides new ways to further impact and change lives, such as the expansion of Minnie’s Boutique. Minnie’s Food Pantry expresses gratitude towards Yardi’s Michael Shaeffer, senior director of client services for Yardi Dallas. “Michael makes it a point to check in frequently throughout the year, and he and the team are always willing to answer the call when volunteers are needed! The intentional relationship serves as proof that giving to others and changing lives/our communities for the better are core values of Yardi and their employees,” shares Jackson (pictured with Schaeffer at left at a recent Lunch and Learn event). Community feedback Minnie’s Food Pantry shared a few success stories and feedback from clients: “I went to Minnie’s to get food for my family. I had plans to take my own life that day and didn’t want to leave them with another burden to worry about. When I got to Minnie’s, a lady greeted me with a hug and a smile. She was a stranger to me, but I don’t think she knew the impact that she made with such a small gesture. I’m still here to write this letter because of her kindness and the love that Minnie’s showed me that morning. Thank you for seeing me and giving me hope,” said one recipient of food and care. “COVID changed our lives. One day I had a great job paying good money, and a few hours later, I was unemployed. I was in a position I never imagined I would be in, and I was embarrassed to ask for help. When I got to Minnie’s Food Pantry, it was nothing like what I expected. The people were friendly and welcoming; the food they gave my family was just like what I would have picked out at the grocery store and didn’t make me feel bad for needing help,” stated another Minnie’s client. Celebrity support for a worthy cause Along with the community coming together at Minnie’s Food Pantry, celebrities have been involved, including Rihanna, Steve Harvey, Jim Parsons, and Floyd Mayweather. In 2018, Oprah Winfrey attended Minnie’s Food Pantry Annual Gala. “The law says whatever you put out into the world, with the energy and intention, will come back to you,” Oprah said...
Angela Blair
Yardi Employee Profile
Yardi’s global offices help property managers, owners, and investors succeed worldwide. Let’s travel to the land down under for this profile and get to know Angela Blair, Manager of the Professional Services Group (PSG) for Australia and New Zealand (ANZ). Meet Angela Blair Blair approaches a decade of working with Yardi in July, but has been part of the Yardi network since 2001. “From client user to consultant to project manager, to now, Yardi has been a big part of my professional life,” she said. Blair spends her days at Yardi managing five consultants, ensuring they have the tools to achieve productivity goals and contribute to client success. In addition, she oversees the rollout of Yardi’s residential suite for build-to-rent asset classes in ANZ, which entails attending conferences and seminars to learn about industry requirements for the region. She also is the project manager for both commercial and residential implementations, working closely with the presales team, assisting with requests for proposals (RFPs) and demonstrations, and creating PSG proposals. “Managing ad-hoc client requests and resource allocations across projects can be a bit of a juggling act sometimes,” says Blair. After leaving the accounting life, which was sometimes mundane and repetitive, Blair loves that work feels almost like a new job each time she implements a new client. “Although the work itself might be basically the same from project to project, each client varies in team size and expertise; each has their own business practices and processes that we need to understand fully to provide them the best system solutions possible – and sometimes that requires us to think outside the box which keeps it feeling very new and challenging, but in a good way,” she said. Embracing fresh perspectives Yardi’s corporate culture lends itself to...
Walkable Urbanism Rankings
Yardi Matrix Contributes Data
The nation’s top 35 metros are ranked on walkable urbanism using a newly released index that considers commercial rent premiums, multifamily rents, and for-sale home prices. For the first time, Yardi Matrix was a significant source of data for the report, which was co-authored by Michael Rodriguez, AICP, and Christopher B. Leinberger; and ultimately concludes that the demand for walkable urban real estate far exceeds supply. “Foot Traffic Ahead: Ranking Walkable Urbanism in America’s Largest Metros” finds that the top cities for walkability are: New York City Boston Washington, DC Seattle Portland San Francisco Chicago Los Angeles The rankings are based on the share of office, retail, and rental multi-family occupied square footage in walkable urban places relative to the metro region as a whole. “(The report) finds higher demand driving premiums for commercial and multifamily rents and for-sale home prices in walkable urban places, compared to car-dependent alternatives,” its authors conclude. According to Smart Growth America, the 2023 report required a different approach in methodology and analytics than in past years. That’s attributed to the pandemic. “Since the 2019 report, much of urban life has changed: the popularity of remote work skyrocketed; ever-increasing housing demand continued to push up the price of homes; public parks became invaluable social gathering spaces; and streets that once served only cars were shut down to make way for people,” SGA stated. “Taking these changes into account, FTA takes stock of the nation’s 35 largest metropolitan areas to identify how walkability in these places has transformed.” Among the interesting data points from the report: – Small spaces, significant population: Researchers found that 19.1 percent of the total U.S. real GDP and 6.8 percent of the U.S. population are located in walkable urban places that represent just 1.2 percent of total landmass of the top 35 U.S. metros. – Societal benefits: Walkable urban areas have the potential to improve community health by promoting physical activity, can reduce emissions by decreasing car use, and can advance equity via access to economic opportunity. –A mix of real estate product: Walkable urban places contain the highest concentration of office space (42.1 percent), just over one-third of multifamily rental spaces (30.4 percent), just under a quarter of retail space, and the smallest amount of for-sale housing (11.6 percent). –Lack of walkable urbanism creates community challenges: The report’s authors find that a walk of walkable places is directly connected to the U.S. affordable housing and cost of living crisis. “Housing in the very locations where it is most needed—such as transit-served and infill locations— remains challenging to deliver on account of restrictive zoning, lending policy, and pandemic-era supply chain and labor issues,” states the report. Check out the downloadable Foot Traffic Ahead report for more insights, and read additional coverage of the report and its impact on multifamily real estate from Multihousing...
Optimize Your Profile
Google Business Tips for Apartments
You’ve probably heard the saying, “You never get a second chance to make a good first impression.” Think of your Google Business Profile (GBP) as your business’ digital first impression; it’s critical to put your best foot forward to attract the most traffic to your apartment community. In fact, did you know that 50% of GBP interactions lead to a website visit? Your GBP is a description of your business that appears above or to the side of the organic results in Google search, and it includes key information about your business such as your name, number, hours of operation and more. The goal of your GBP is to display an overview of the business Google thinks a user is searching for, and it actually plays a key role in your SEO strategy. Let’s dig into why your GBP is so important and how to make yours the best it can be. Why is your Google Business Profile important? Google is the leading search engine in the U.S., commanding a 92% market share. With this in mind, it’s important to be visible where the bulk of users are searching. Your GBP helps you stand out from the crowd and boosts property visibility. An accurate and up-to-date profile allows you to appear above organic search results, showcasing your business and all it offers in a clear and affective way. Your GBP is a great opportunity to take up critical real estate on the SERPs. A complete GBP also greatly increases your odds of appearing in the Google Local Map Pack. This set of featured results lists businesses in the searcher’s local area. If you’re included, it will definitely drive traffic to your website. Building an optimized Google Business Profile for apartments Since 64% of users find business contact information on GBP, it’s more important than ever to have a fully completed and error-free profile. It is one of the best ways to market your business online, and best of all, setting up your GBP is free! To get started, claim your business if Google has already set one up. To do this, search for your business on Google and click “Claim this business” if a GBP populates on the Search Engine Results Page. If it doesn’t exist yet you also have the opportunity to create a new one. Next, you should select the business category that applies to your business. For example, you can select “Apartment complex.” After this, you should add your business information. This includes name, address, phone number and URL. To top it off, don’t forget to add in your hours of operation and a brief description of your business. Finally, make sure to verify your business location by phone, text, email or via postcard sent to your physical address. GBP best practices Setting up your GBP is a good start, but you can’t just set it and forget it. Here are some best practices to follow to make sure you’re making the most of what a Google Business Profile for apartments can offer: Consistently check and update It’s important to check your GBP as often as possible. When talking about GBPs, Gretchen Walker, manager at REACH by RentCafe,comments, “It’s important to keep it up to date. Google allows users to come in and suggest changes to those profiles, and … just because it’s correct today doesn’t mean it’s going to be correct tomorrow.” If your name, address, phone number and URL are not consistent with other listings that feature your website, it can hurt your optimization. Respond to your reviews Managing your online reputation is an important part of your digital marketing strategy. Responding to reviews on your GBP is a great way to engage with clients while boosting your SEO. For more information on how to best respond to reviews, check out this article. Boost engagement by adding photos and videos Business profiles that add...
Wayne Tuck
Yardi Employee Profile
Let’s rendezvous with Wayne Tuck, Senior Director for Yardi’s residential portfolio in Canada. Tuck supports Canadian clients as well as those from the U.S. and Latin America. Meet Wayne Tuck Tuck has worked with Yardi for four years but has been in the industry as a client of Yardi’s since 2004. He is involved primarily in the support of clients and teams that service them. “I always say to employees I work with, ‘You are not working for me; I am working for you; we’re working together.’ It’s my role to guide, support, and direct them to be better for our clients. When I first joined, my message was, ‘I’ll share as much as I know about the multifamily industry in Canada, and you share as much as you know about software, and this will be a great relationship,’” said Tuck. Tuck says Yardi’s corporate motto resonates with him, as do Yardi’s company values: Take care of our clients, take care of our employees, take care of our communities, stay focused and grow. “I have been extremely fortunate to participate on Yardi Toronto’s Charity Committee, helping with the organization’s philanthropic efforts,” shared Tuck. One beneficiary is Canadian client Toronto Community Housing, where Yardi contributes post-secondary scholarships for individuals living in social housing. The funds help provide an opportunity for recipients to pursue their dreams. “In addition, the Investing in our Diversity scholarships are awarded annually, and I’m extremely proud to represent Yardi in helping deliver them,” shared Tuck. Learning and leadership Tuck’s journey with Yardi has been a chance to gain a perspective on how real estate and tech companies operate around the world. “We always rely on teams outside Canada in support of our clients, and the diverse nature of our organization and its geographical reach offers a unique opportunity to gain a truly global perspective,” he said. What does he enjoy most about working for Yardi? The chance to continually expand his knowledge. “I am inquisitive by nature; I have learned so much here at Yardi, and I continue to learn each and every day. I’m also focused on sharing my learning and experience to benefit our employees and their ongoing development,” Tuck said. Tuck is also a part of the hiring process for Yardi. In interviews with candidates, Tuck said: “I always reinforce integrity as the core value (at Yardi) that resonates most. Going back to the motto, it is not only the attention, dedication, and commitment to our purpose that resonates but also our consistent delivery of products and services that demonstrate how we fulfill it. “Integrity for me is not just about doing the right thing; it’s about having the will to do it right no matter what barrier or perceived barrier is in front of you.” Yardi is hiring globally! Interested prospective employees can explore opportunities on the Careers site. Hockey with heart Tuck is a huge hockey fan and plays regularly. His son and daughter both compete at a high level in two of the premier minor hockey leagues in the world—The Greater Toronto Hockey League and the Ontario Women’s Hockey Association. He also volunteers and helps his son’s team as a trainer, which finds himself in the ice-skating rink several times a week during the Fall and Winter seasons. Tuck also enjoys riding his motorcycle, creative writing, and painting abstracts with acrylic when he is not in skates. Check out his LinkedIn bio here. Learn more about the dynamic members of #TeamYardi on the People...
Watch On-Demand Webinars
Yardi Senior Living
We all learn best in different ways, whether it’s by reading a post like this one, exploring visual resources like an infographic or watching a short video. It’s why our senior living team seeks to bring a variety of resources to the table (including all of the above) when demonstrating functionality in the Yardi Senior Living Suite. As such, we’re excited to share our senior living webinars today, which offer the opportunity to explore our solutions via on-demand videos. They’re quick, informative and packed with what operators need to know. And since they’re on-demand, you can watch at your convenience! Simply fill out the short registration form and voila, you’re set to view the webinar when your schedule allows. Ready to start watching? See below to find the Senior Living Suite webinars we’ve worked to bring you: Yardi Voyager Senior Housing Create a foundation for success with an online, mobile-friendly platform for property management and finance. Designed for providers of all types and sizes, Yardi Voyager Senior Housing is a complete accounting system that integrates with solutions for every aspect of senior living. Join our senior living webinar to learn how Voyager helps you: Simplify accounting with a full general ledger system Improve transparency through centralized record keeping Enhance staff productivity with automated tasks and workflows Scale your operations by adding solutions for marketing, care and more Register for the Voyager Senior Housing webinar. Yardi Senior IQ Operational and financial data alone doesn’t cut costs, increase revenue, balance risk or optimize resident care. Actionable insight does, and that’s where Yardi Senior IQ comes in. Join this senior living webinar to learn how our dynamic business intelligence solution drives smarter, faster decisions for single communities or an entire portfolio. We’ll show you how Yardi Senior IQ: Uncovers new insights from internal benchmarks and industry comparisons Satisfies investors, board members and senior leadership with real-time data Helps staff focus on resident care by eliminating spreadsheets, siloed databases and other inefficient operations Empowers teams with role-based, customizable dashboards that display metrics that matter to them Register for the Yardi Senior IQ webinar. Yardi EHR Drive superior resident care with efficient record keeping and medication management. Yardi EHR offers the convenience of mobile, electronic assessments, care planning, incident tracking and more. Watch our senior living webinar to learn how Yardi EHR helps: Simplify charting to increase time for resident care Capture all care costs from assessments Cut medication administration costs and processing times Comply with government reporting regulations Register for the Yardi EHR webinar. Yardi eMAR How can senior living providers and pharmacies work together efficiently? With an effective electronic medication management solution! Yardi eMAR streamlines caregiver tasks by consolidating medication management, health records and finance in one single database. Register for this senior living webinar to see how Yardi eMAR enables you to: Pass medications securely across your communities Build stronger bonds and increase resident satisfaction Reduce paper documentation and cut associated processing time Eliminate risks by digitizing the medication management process Register for the Yardi eMAR webinar. RentCafe Senior Living Set your communities apart by offering residents and their families the ability to stay connected. RentCafe Senior Living is an online portal for managing payments, reviewing health and wellness records, communicating with caregivers and submitting service requests whenever, wherever. Join our senior living webinar to learn how RentCafe Senior Living works to: Increase cash flow with online payment options Enable fast and easy maintenance requests Drive resident engagement through community calendars Collect confidential feedback from residents and families Register for the RentCafe Senior Living webinar. RentCafe Senior CRM Nurture leads and maximize occupancy with a powerful customer relationship management solution for senior living. RentCafe Senior CRM offers instant visibility into sales and marketing activities, with prospect information flowing from sales counselors to caregivers to finance and billing staff. Watch this senior living webinar to discover how RentCafe Senior CRM allows you...
