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...
Adelante Comunidad Conejo
Supporting Community
Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to hundreds of organizations selected by its employees. Adelante Comunidad Conejo (Adelante) of Thousand Oaks, Calif. is a regional nonprofit that seeks to empower Spanish-speaking families, regardless of immigration status, fluency or income. Adelante provides support, networking and advocacy and acts as an advocate for Spanish-speakers throughout the community. “Adelante believes that everyone deserves to be recognized as valued community members. Everyone should have a seat at the table. The voices of our Spanish-speaking peers should be heard when decisions are made regarding neighborhoods, school transportation, and recreation,” said Carole Shelton, vice president of the nonprofit. “We continue to be responsive to the community as needs change. We are working to address food insecurity, to connect our families to support organizations, and to connect support organizations to our families,” Shelton said. “When we embrace cultural and language diversity, we make our community a better place in which to live and work.” “Our focus is on removing barriers to participation so that the children of local Latino families can access the same programs that their friends do. The most significant barriers families face are transportation, language, and affordability.” Adelante focuses much of its efforts on high school students. They can receive assistance with applying for college scholarships, which can be daunting for families. “We are proud to support our local Latino Connection Clubs at our three comprehensive high school campuses, where their activities build leadership skills and provide opportunities to celebrate their language and heritage,” Shelton shared. Adelante provides volunteers with a welcoming place to be involved and includes community members of all abilities. “A youth with a developmental disability was given the opportunity to serve his community. He has gone from being a spectator, to a 2-hour shift, to a full Saturday shift, and a just recently added a 3-hour shift Friday shift. He has gained important skills during his time with Adelante!” said Shelton. Core mission objectives The core mission objectives for Adelante include the following: Support – Adelante steps in to make a difference in the lives of local Latino families with a special emphasis on the Spanish speaking members of our community. Efforts range from supporting families in crisis, advising community members who are struggling to interface effectively with local agencies, and hosting gatherings designed to better inform families, encourage pride, and build community connections while also addressing food security. Networking – Adelante believes that local community connections are key drivers of change. By attending events, participating in discussions, and meeting other community influencers, the organization positions Latino voices to be heard and seen as respected community voices. Advocacy – Adelante listens to and responds to community concerns, brings those concerns forward to local agencies and speaks on behalf of those who are not ready to speak for themselves. Its advocates have become quite the experts at offering insight during local government public comment opportunities. Yardi support makes a difference Shelton shared how the support provided by Yardi has had an impact on the organization. “Yardi funds allow us to continue to provide fresh milk, cheese, tortillas, beef, and chicken to our families during our monthly marketplace and pantry. Addressing food insecurity has given us the opportunity to develop a deeper connection with our families which has provided the opportunity to work together to reach our collective goals,” she said. “The support received by Yardi brought our volunteers to tears. We know we are doing great work but receiving support within our community means everything.” Volunteer opportunities Volunteer opportunities with Adelante include prepping food distribution pantry and marketplace resources for recipients on Fridays and working at the Saturday Open Air Community Marketplace. In-depth details about work hours, expectations, time commitment and skills required are available at the Adelante Comunidad Conejo website. For more information...
Community Support
In Affordable Housing
In the face of inflation and rising costs of living, some affordable housing residents may struggling this year. Here are some creative ways to provide for families at your properties. Residents could be struggling with rising grocery prices. Local food banks and kitchens are the best options. Create easily available resources, such as a website page or flyer posted in community common areas, letting residents know where they can find assistance with groceries. Many food banks provide healthy foods as well. Find a guide to local food bank locations here. If your location allows, onsite community meals are another idea, which could be prepared with resident help or assistance from a non-profit willing to visit your location. For families with small children, childcare assistance is available in many regions. Become familiar with local resources and regulations in order to best assist residents. Consider a weekly or monthly activity for children living at the community so that parents can have a short break. Refreshments, games, or a movie afternoon are easy ideas for potential entertainment. Affordable healthcare is challenging to access for many, especially seniors who may have limited transportation options. Talk to local public health clinics and consider holding a quarterly mini-health assessment clinic. This can benefit all age groups. Many nonprofits help with health and wellness and are able to provide access assistance. If not onsite, a pickup/dropoff transportation service may be available, and you can share that information with residents. Car services like Uber and Lyft can get very expensive. For residents who do not have a personal car, consider having a “taxi” service available for them for a moderate fee. This can benefit many who need to pick up prescriptions or do quick errands. For residents who need access to technology,...
Your Business Intelligence Guide
Featuring Senior IQ
You’ve likely heard the term business intelligence (BI) before, but have you explored the capabilities of BI tools for senior living? Our newest ebook guides you through it, offering concrete ways senior living operators can use BI tools to their advantage. We cover the top benefits of BI software and features to look for when selecting a solution, then share how Yardi Senior IQ stands out from the crowd. Be sure to download a free copy of the ebook for all the insights! Why should you use business intelligence? Given the tech-driven world we’re in today, it’s no surprise that 80% of organizations are using BI software, according to a 2022 Gartner survey. But beyond simply being in a technology era, leaders are choosing to implement BI solutions based on the ability to unlock critical data — all at the click of a button. That real-time data enables smarter, faster decision-making. As outlined in the ebook, business intelligence helps senior living operators (and other leaders alike) enable data visualization, streamline decisions and educate staff at all levels. That includes managers across marketing, operations and care, not just C-suite executives. You can read the ebook for more details on what BI tools have to offer. The big takeaway is that business intelligence opens doors that manual data processes can’t — helping operators drive growth in their communities. Selecting the solution for you How does one sort through different business intelligence solutions? It’s important to find a transparent vendor who shares exactly what their solution does to help operators succeed. You should be looking for ease of use, customization options and a wide range of capabilities when vetting BI solutions. Check out the ebook for a list of what to look for beyond those must-haves. Say hello to Yardi Senior IQ We can’t go through the benefits of business intelligence without a solution to demonstrate. With that, say hello to Senior IQ! Senior IQ is a cloud-based, integrated business intelligence solution hosted in the Yardi Senior Living Suite. As a BI solution built for the unique needs of senior living, Senior IQ offers real-time data that’s relevant to you. There’s a range of things that make Senior IQ a differentiator, but to name a few, Senior IQ offers: Attractive, customizable dashboards 640+ pre-configured KPIs Internal benchmarks and NIC industry comparison data Portfolio-wide insights plus drill down capabilities HIPAA and SOX compliant workflows Head over to the ebook for the full list, as well as an inside look at dashboards and KPIs being created in Senior IQ today. See what Yardi clients are saying “Yardi Senior IQ is fantastic because it establishes orderly workflows and creates new reports from existing ones, complete with custom dashboards,” shares Michael Bowles, project coordinator at Dial Senior Living. “Investors can get very specific information on demand without having to wait for us to send it.” You’ll find a few more testimonials like this one in the ebook. Getting started with Senior IQ Curious about the implementation process with Senior IQ? Let’s just say you’re not building charts from the ground up. Data is automatically pulled from tools in the Yardi Senior Living Suite — from financials to marketing to care — and populated in Senior IQ. Implementing Senior IQ can be achieved in just two weeks, much less than the median implementation timeline for BI software (approximately four months, according to BI-Survey). Read the ebook While snapshots like this are great, we encourage you to read the ebook for a closer look at business intelligence tools! If you have any questions about Senior IQ, visit page 14 of the ebook to book a personalized demo with team...
Self Storage
Sees Seasonal Slowdown
National self storage street rates for all unit types continued to decline in December as the demand for housing dropped and seasonal trends took effect, according to the latest Yardi Matrix National Self Storage Report. National street rates for 10×10 non-climate-controlled (NON CC) units decreased 2.3 percent year-over-year in December to $126, a $7 drop from their summer peak. Rates for similar-size climate-controlled (CC) units fared slightly worse, dropping 3.4 percent year-over-year to $142, a $10 drop from the summer high. The decline in street rates in the last half of 2022 was expected due to normal seasonal slowdowns in demand, and overall rates remain healthy compared to historical levels. “Self storage had a strong year and is well-positioned heading into 2023. Street rates have declined, but operators have focused on increasing existing customer rents to achieve strong revenue growth, outweighing the rise in operating costs,” say Matrix experts. According to market research, operators remain confident in the resilient demand created over the past two years and the ability to backfill occupancy in the spring with higher-paying new customers. “A rapid rise in development costs, including the cost of debt, will also likely cause a deceleration in new supply in coming years, another positive for owners,” states the report. Learn more about the state of the self storage market nationwide. Yardi Matrix tracks a total of 4,627 self storage properties nationwide in various stages of development — including 1,789 planned, 812 under construction and 669 prospective properties. Matrix also maintains operational profiles for 29,032 completed self storage facilities across the United States, bringing the total data set to 33,659. 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...
Student Housing
Expected to Outperform Again
The student housing industry is set up for another solid performance in 2023 after record returns last year, according to the latest National Student Housing Report from Yardi Matrix. “Momentum is strong heading into the new year, even as the effect of higher interest rates takes hold in the economy and has led multifamily rents to decelerate,” say Matrix experts. “Student housing remains largely unaffected, as the industry typically does better during times of economic volatility.” As of December 2022, 48 percent of beds at Yardi 200 universities were already leased for the fall 2023 school year, representing a new record high for this time of year. Rent growth also remained strong, at 4.7 percent annual growth. “With over eight months to go until the start of the next school year, we anticipate 2023 being another record-breaking year for student housing performance,” states the report. One caveat: highly selective universities with name recognition are maintaining their interest among incoming students, while smaller schools are having more difficulty with enrollment. The slowing economy is having an impact on new student housing supply. With interest rates increasing, the development pipeline is contracting. The development pipeline for Yardi 200 universities (including planned, prospective and under-construction properties) decreased by over 3,000 bedrooms from December to January, representing a 2.6 percent contraction. Gain more insight in the new National Student Housing Report. The student housing data set includes over 2,000 universities and colleges nationwide, including the top 200 investment grade universities across all major collegiate conferences. Known as the “Yardi 200,” it includes all Power 5 conferences as well as Carnegie R1 and R2 universities. 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...
Care Stream App
New Enhancements!
We’re pleased to share a new round of updates in the Yardi EHR Care Stream App, our on-the-go platform for senior care staff. We’re continuously striving to improve our solutions in the Yardi Senior Living Suite, including the accompanying apps, and hope our clients enjoy the latest functionality Care Stream has to offer. See below for a snapshot of what the update entails: About Care Stream As a brief overview, the Yardi EHR Care Stream app allows nurses and other senior care staff to access resident health records, perform order resolutions, execute point-of-care charting and more from a single, mobile platform. Care Stream is accessible on both smartphones and tablets, allowing more staff members to utilize the app depending what devices their community has available. Taking a step back, Yardi EHR is our full-service electronic health record solution for senior living. Learn more about Yardi EHR. New features and enhancements Focusing on what’s new and improved in Care Stream, the app now includes the following functionality: You can now view, add and edit daily log entries and progress notes in the app. In resident view, tap the new daily log or progress notes button below the resident header to add a new entry or to view previous entries The add observation button (for initiating one-step assessments) has been replaced by an observation button located between the new daily log and progress notes buttons You can now view and record vital signs in the app. In resident view, tap the new vitals button below the resident header to record a new vital or view a filterable list of previously recorded vitals Download the app As always, these updates were developed with client feedback in mind, and to help senior care staff succeed. We hope you...
Reach for Excellence
Empowering Students for Success
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.. Get to know Reach for Excellence, an Atlanta-based nonprofit that serves middle-school children through educational enrichment. Founded in 2001, the mission of Reach for Excellence is to empower determined leaders and expand their possibilities in the classroom, in the community, and in life. Reach for Excellence is a tuition-free academic and leadership enrichment program that offers students of limited income a mix of academic, cultural, and community-based experiences that prepare them for the challenges of college-preparatory programs and high schools. Director of Development Matt McGee shares: “While there are many worthwhile educational enrichment programs in the Atlanta area, Reach for Excellence is one of the few that focuses on middle school-aged children. Research from ACT found that the academic achievement students attain by eighth grade significantly impacts college and career readiness. Therefore, it is critical for this age group to gain exposure to the academic and leadership skills necessary to succeed in high school, college, and beyond.” Program offerings Reach for Excellence keeps students focused on learning by engaging young scholars in academic and leadership enrichment classes over six weeks during the summer. The program continues throughout the school year with 16 Saturday sessions. Two hot meals are provided each day in the summer, and a hot lunch is provided on Saturdays, ensuring that students are well-fed and ready to learn. Reach for Excellence also provides transportation assistance. “The program requires hard work, commitment, and discipline, but the rewards can last a lifetime,” says McGee. He shared the story of Jocelyn Calvillo, a Reach for Excellence student who later became an attorney. “Jocelyn was eager to join Reach, but her parents were concerned about maintaining a commitment to attend classes on Saturdays and during the summer. She had three siblings, and both parents worked demanding schedules. Transportation to the program would be an issue. Her parents recognized the importance of education and worked with Reach and other families to negotiate Jocelyn’s transportation,” McGee shared. But once she was able to attend, “It was comfortable to be in an environment with kids from similar backgrounds, and she never felt like she was less than her peers. She recalls that there were always books available and visited Reach’s library often. She loved reading and was good at math, a big part of the Reach curriculum,” said McGee. Calvillo ultimately attended high school at Atlanta’s Marist School in Atlanta, Agnes Scott College, where she majored in political science and Spanish, and Mercer University’s Walter F. George School of Law. She now helps her community as an immigration attorney with Catholic Charities Atlanta, an organization that helps families to overcome barriers and achieve self-sufficiency. “Jocelyn believes that Reach for Excellence opens doors and helps students succeed despite all the barriers they face. Seeing all that her fellow Reach classmates have accomplished, she believes Reach students will change the world,” said McGee. Future goals In 2022 and 2023, Reach for Excellence is working to offset the impact of the pandemic on students’ academic growth. The pandemic has taken a particular toll on the education of children in low-income families. Research from Georgia State University recently found that many students in the Metro-Atlanta area experienced reductions in academic growth over the last two years. The math and reading achievement reductions were more significant among students who qualify for free or reduced lunch, students of color, and English language learners. All of Reach for Excellence students match these demographics and experienced more significant reductions in academic growth than their peers. “Additionally, Reach for Excellence will expand our enrollment by recruiting new students to our Hispanic Initiative,” shared McGee. “Our new Hispanic Initiative seeks to strengthen college enrollment and completion among Latinx students by providing academic enrichment and college...
Benefits of e-Signatures...
Many of us have changed the way we go about our daily lives since social distancing efforts began in late 2019. Not only have we rolled with the changes, we’ve embraced them, morphed them into something better, and created new ways to work with each other. A major change affecting affordable housing providers and public housing agencies came in a notice from the United States Department of Housing and Urban Development (HUD) in 2020 by which HUD authorized use of electronic signatures in place of “wet” (i.e. ink) signatures to execute documents for many of its housing subsidy programs. Examples of affected programs include: Project-based Section 8 Rental Assistance Demonstration Project-based Rental Assistance (RAD/PBRA) Section 202 Senior Preservation Rental Assistance Contracts (SPRAC) Section 202/162 Project Assistance Contract (PAC) Section 202 Project Rental Assistance Contract (PRAC) Section 811 PRAC and Project Rental Assistance (PRA) Rent Supplement Section 236 (including RAP) Section 221(d)(3)/(d)(5) Below-Market Interest Rate (BMIR). Why are e-signatures a game changer for subsidized housing? Eliminating ink signature requirements save time and money for affordable housing providers and public housing agencies. Rather that dealing with paperwork, these organizations can now set up digital workflows that reduce paper usage and storage costs. Those online workflows can save significant staff hours and create more time to serve residents. E-signatures are more convenient for affordable housing and PHA applicants and residents. They can execute documents when they have a free moment, instead of taking time off work or from childcare to visit an office to sign forms. Audits are also faster, easier and safer with the use of e-signatures. Because workflows are paperless, auditors can monitor files without having to come into an office. Instead, they can access affordable housing and PHA files from a remote workstation to...
Ana-Raluca Iliescu
Yardi Employee Profile
Yardi’s growth as a top employer is thanks in part to staff members who assist with recruiting around the globe. Meet Ana-Raluca Iliescu, team leader for recruitment in Cluj-Napoca, Romania. Meet Ana-Raluca Iliescu Iliescu has been working for Yardi for nine years. She started with the company as a call center agent and transferred to the Human Resources department after two years. Currently, she coordinates the recruitment team and participates in recruitment processes. “My experience at the call center was one of the most valuable that I have ever had and played an important role in preparing me for the recruiter position. I had already acquired most of the skills needed for the job, so transitioning into the new role went smoothly,” shared Iliescu. Her day-to-day work includes close collaboration with the recruitment team and other departments in the Yardi Romania office. She oversees all processes, stays on top of changes, and proposes and applies solutions to improve practices and candidate experiences. “Having been in a recruiter role at Yardi for over six years, I got the chance to work with almost all our teams, thus getting an excellent grasp of the business needs and processes and gaining much diverse experience as a recruiter,” said Iliescu. Growing business The people at Yardi’s worldwide offices are a big part of the effort to create and foster a distinctly welcoming corporate culture. “One of the things I like most about my job is that what our team does helps the people and the business grow. I also enjoy passing on my experience to help others succeed in this field. At the same time, I like the fact that it’s a challenging role, and you never get the chance to get bored – you can learn new...
Multifamily Outlook
From Yardi Matrix
Multifamily rent growth began to slow in late 2022 as economic pressures, including the impact of inflation, took root. The 2023 Multifamily Outlook from Yardi Matrix expects that rent growth will be closer to its historical average in 2023. Last year, U.S. 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 2022 increase is expected to drop by half this year. “All eyes are on interest rates and how quickly inflation recedes. Economic growth will likely wane in the second half as the impact of rapid rate hikes take effect,” states the outlook. “This year we foresee rent growth dropping in half to 3.1 percent as demand lessens and deliveries remain high.” Demand is decreasing due to less renter migration, a dip in new household formation and declining affordability. Meanwhile new units are coming online nationwide. The forecast calls for 440,000 new deliveries in 2023, a stock increase of 2.9 percent. Deliveries will be concentrated in fast-growing markets, including Dallas, Austin, Charlotte, Nashville and Orlando. However, starts are expected to decline due to rising construction costs, a shortage of construction workers and planning/permitting delays. Gain more insights on the industry in the full report. 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...
Asking Rents Fall
Multifamily Update
Multifamily asking rents recorded historic highs in 2022 but began to move south as the year concluded, recording another $4 drop to a national average $1,715 in December, according to the latest Yardi® Matrix National Multifamily Report. Year-over-year growth declined by 80 basis points to 6.2 percent last month, the lowest level since May 2021. Over the year, national asking rents recorded a 6.2 percent uptick, the second-highest annual growth in 100 years after 2021’s nearly 15 percent increase. But as the economy cooled in the fall and demand decreased, rents fell 0.2 percent in December and 0.6 percent in the fourth quarter. The single-family rental (SFR) market is also seeing slowing. National asking rates increased 4.8 percent year-over-year in December, which was a decrease of 100 basis points from November. SFR rents dropped by $8 to average $2,083 last month. “With a variety of concerns about the economy and affordability, we expect rent growth in 2023 will be closer to typical levels,” states the latest report. In 2023, Yardi Matrix expects asking rents should remain flat or fall slightly through the spring, when growth is normally strongest. Then rents will likely rise moderately, though nowhere near the dramatic levels of the last two years. Learn more in the latest Matrix National Multifamily Report. 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...
Glassdoor Honor
Yardi is Best Place to Work
Yardi has been honored with a Glassdoor Employees’ Choice Award for the third time as one of the Best Places to Work in 2023. The Glassdoor Employees’ Choice Award is based solely on the input of employees, who voluntarily provide anonymous feedback by completing a review about their job, work environment and employer on Glassdoor, the worldwide leader on insights about jobs and companies. “Taking care of our employees and offering opportunities to contribute to our clients’ success are guiding principles at Yardi,” said Anant Yardi, the company’s president and founder. “We are honored to receive this prestigious award again from Glassdoor, and we are grateful for the supportive culture that has been fostered at all levels within our organization.” For 2023, Yardi is No. 76 out of 100 companies on Glassdoor’s Best Places to Work US Large list with a 4.4 rating. The company was previously honored in 2020 and 2018. Here are some of the comments current employees have made recently about Yardi on Glassdoor: “(Yardi is a) wonderful place to work. Flexibility, good pay & benefits, and caring, supportive team and leader. Privileged to work for such a philanthropic company that values both its clients and employees.” “The company has been incredible to work for throughout the pandemic and treats its employees and their families as good as I’ve ever seen.” “Management and team leads meet with you often to check in on how you are doing, career goals, questions, concerns. They do so in an authentic way, not obligatory. Leadership has not only asked these questions but has great follow through. They have helped guide me on a path based on my own career goals and they also encourage “out of the box” ideas and love when you take initiative.” Yardi is currently hiring, and you can find worldwide career opportunities on the Careers page. Glassdoor’s Best Places to Work winners were determined using company reviews shared by U.S.-based employees between October 19, 2021 and October 17, 2022. During the year-long eligibility period, employers considered for the large list must have received at least 75 ratings for each of Glassdoor’s nine workplace attributes (overall company rating, career opportunities, compensation and benefits, culture and values, diversity and inclusion, senior management, work-life balance, recommend to a friend and six-month business outlook). “It’s encouraging to see companies doubling down on employee mental health and wellbeing, diversity and inclusion, competitive benefits and flexible work environments as we head into 2023. I sincerely congratulate all of the Best Places to Work winners,” said Christian Sutherland-Wong, Glassdoor Chief Executive Officer. For the complete list of the Glassdoor Best Places to Work winners in 2023, please visit:...
Bug of the Century
Could Y2K Happen Again?
Readers of a certain age might recall the buildup to Jan. 1, 2000, as an exercise in high drama. The object of concern was the so-called Y2K bug, the fear that hardware and software systems would stop functioning if they interpreted Jan. 1, 2000, as the first day of the year 1900. The issue was a legacy of computer programs from the 1960s, when engineers used a two-digit code for the year, omitting “19” to save data storage space. 2000 was comfortably far away then. But as that year approached, the concern grew among experts that the faulty interpretation of “00” would wreak havoc on everything from national defense systems and energy grid infrastructure to home mortgage calculations and factory operations. Corporations and governments formed task forces, planned and tested for years leading up to 2000. Large businesses in the U.S. spent an estimated $100 billion creating Y2K compliant programs. Boeing conducted a series of test flights with systems simulating a 2000 rollover to safeguard its 10,500 jets in service worldwide. AT&T spent $650 million to bolster its phone system. There was a fair amount of worry, too; IBM attributed its 9% fourth-quarter earnings drop in 1999 to large corporate customers delaying computer purchases. Smooth start to the millennium On Jan. 1, 2000, everything held together with only minor glitches attributed to Y2K. The U.S. Federal Housing Administration listed incorrect dates on a few reports. A Berlin opera company’s system made people born in 1995 appear to be 95 years old, rendering their parents ineligible for government-mandated subsidies. A video store in New York state foisted a $91,250 charge on a customer who, according to their computers, returned a rented movie 100 years late. There were some airline flight delays and a few other snafus...
Lynn Topp
Yardi Employee Profile
Meet Lynn Topp of Yardi Canada, who plays a critical role in implementing software and hiring top-tier talent from the Yardi Toronto office. She has watched Yardi grow and thrive in Canada during nearly 18 years at the company. Meet Lynn Topp Topp is the Director of Client Services for Residential in the Toronto office. Even approaching 20 years of service, she is in awe at what she has watched Yardi achieve. “I enjoy the variety and the challenges each day brings. Working at Yardi is never boring, and every day brings something new, even after all my years here,” shared Topp. “Over the years, as the company has grown, it has been amazing to see all the changes and maturity in how it has evolved and improved since I was an account manager. I enjoy seeing others progress in their roles and seeing the results of our implementations, when clients benefit and streamline their businesses, and turning unhappy clients around,” she said. Topp worked for a Yardi client before starting at Yardi. In that role, she used Yardi Voyager to manage 95 properties, and was one of the first clients in Canada to adopt Voyager. “I spent 14 years in the property management industry as a controller before joining Yardi and chose Voyager to support our growth. While it was trying at times, it was also a great experience, eventually leading me to Yardi. Understanding the industry has helped me understand our client’s challenges and allows me to be empathetic and advocate for our clients,” Topp shared. Topp’s day-to-day is involved in some large full-service implementations, which absorbs most of her time serving as project manager. “I am involved with multiple teams and clients, and much of my time is spent dealing with escalated issues and...
Happy New Year!
Senior Living Stories
To ring in the new year among our senior living team, we’re doing one of our favorite posts — one that features our senior living clients! That is, we’re highlighting clients’ positive stories and celebrations from the 2022 holiday season. We hope these bits of magical, holiday wonder help you start the new year off with a smile. Holiday momentum in senior living At various Maplewood Senior Living communities, the holiday season was filled with creative activities for residents. We’re talking classics like wreath-making and Christmas tree decorating, all the way to an educational class on official White House ornaments. Maplewood also shared one community’s participation in a local holiday toy drive in which residents, families and staff donated to gift to children in need. You can find cheerful photos from each holiday event on Maplewood’s LinkedIn page. Benchmark Senior Living partook in quite a few holiday activities, too. You can see for yourself in this carousel of photos on Benchmark’s social media, which features things like community decorating and residents singing around the piano. Our personal favorite might be this compilation of holiday cookie recipes Benchmark shared, featuring their residents’ top picks. We may have to save these for baking year-round! Residents at a Watercrest Senior Living community enjoyed a holiday feast with loved ones this Christmas season, before heading for horse-drawn carriage rides. Did we mention hot cocoa and freshly-baked cookies were involved? There may not be any horses spotted in their social media collage, but you’ll see another surprise visitor (think red suit, white beard) enjoying the evening with residents. The community even did a second round of this event, pictured on LinkedIn as well. Tapping into the magic of Christmas Eve, check out this video shared by Brightview Senior Living,...
