Electric vehicles – and their charging apparatuses – are a hot topic. With electric vehicles accounting for only about 6% of U.S. new car sales in 2022, the country is one of the world’s largest markets for EVs. The federal government has set a goal of 500,000 EV charging stations at apartment buildings, public parking lots, roadways and other locations by 2030, up from 133,000 in 2020. At that point half of all road vehicles could be electric, if the government’s target is met. Owners of EVs, which use rechargeable lithium-ion batteries, spend 60% less each year on fuel costs compared to drivers of gas-powered cars, according to a Consumer Reports study in 2020. The federal government, most states and the District of Columbia offer tax credits and other incentives to install charging stations. California, for example, has provided $1.2 billion to build the infrastructure for EVs across the state. The state will also adopt regulations requiring EV charging station installation in the parking facilities of buildings, including hotels, multifamily buildings and nonresidential development, by 2025. Other states, including Arkansas and Florida, offer rebates for EV charging station installation and EV purchases. Approaching essential status One outgrowth of these and other trends is that EV charging stations are evolving into an essential asset for property managers. By installing EV charging stations, retail business, offices and workplace property managers gain opportunities to attract customers and tenants by demonstrating “their commitment to new technology and innovation,” says industry resource Property Manager Insider. “For multifamily and commercial properties, … the availability of reliable EV chargers is not just a nice-to-have, but a vital factor for retaining and attracting residents and tenants,” adds CleanTechnica, a clean energy news source. Key steps that property managers can take to stay...

Love was in the air across senior living communities this Valentine’s Day, including the communities of our amazing clients! So if you’re a fan of heartwarming stories, you’re in the right place. We hope you’ll take a moment to see how these communities made this love-filled day special. Valentine’s Day in senior living We’re loving how our senior living clients celebrated Valentine’s Day this year, whether they organized festive activities or celebrated resident lovebirds. From blogs to social media posts highlighting charming moments, we’re happy to be resharing it all:  Pacifica Senior Living put together a blog post sharing how their communities celebrated Valentine’s Day — and they spotlighted the relationships their residents cherish. Take Joyce and Joanne from their Laguna Hills community, two sisters who have maintained a loving relationship since their early days. From attending nursing school together to now residing in the same Pacifica apartment, these two lovely ladies enjoy spending quality time together each day. Read the Pacifica post to learn about Joyce and Joanne, plus see more Valentine’s stories featuring Pacifica residents. At Maplewood Senior Living, one resident couple brought the Valentine’s Day spirit by reflecting on their lifetime of love. Residing in Maplewood at Princeton, residents Vicki and Marty have been together “forever” (as quoted by Vicki in Maplewood’s blog post). The post delves into their journey individually and as a couple — sharing everything that led them through decades of love. Read Maplewood’s post for all the feels, and to see then-and-now photos of Vicki and Marty.   Continuing with the theme of long-lasting love, check out this video featuring Benchmark Senior Living residents. As shared on Benchmark’s LinkedIn, the video shows how residents Dave and Pauline celebrated 25 years together by renewing their vows. The two...

Yolanda Poulson is an account manager on the RentCafe implementation team in the Yardi Raleigh, North Carolina office. Poulson has been working at Yardi since 2016. Prior to joining Yardi, she worked as a project manager for a Yardi client for 11 years. Training clients on how to use and support their newly implemented RentCafe platform is critical during the implementation. “As an account manager, I can build relationships with our clients and assist them with setting up their projects. In addition, I enjoy getting to know each of my clients and forming a bond that reassures them of being in great hands,” Poulson said. All hands on deck Going above and beyond, Poulson services Yardi clients and assists colleagues in other departments, such as onboarding new employees, which has opened new challenges for her. “These transitions have allowed me to learn new products and enhance my knowledge base, my knowledge of Yardi products, and my network across the company,” Poulson shared. Poulson is also a part of the Yardi Cares committee in the Raleigh office. The team finds outreach opportunities for the Yardi staff to participate in throughout the Triangle region. The saying “there is no I in TEAM” is a motto Poulson holds dearly and admires most about the team she works with. Collaboration and flexibility are two key components she enjoys the most about her work. “My advice to all new hires is to be a sponge and soak up all the knowledge around you and ask questions. Do not be afraid to submerge yourself into your work and research issues using the tools provided. Remember always to trust the process and your leadership team to have your best interest at heart,” Poulson said. Yardi is hiring globally! Interested prospective employees...

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...

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...

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...

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...

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...

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...

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,...

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,...

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...

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...