Ready to meet the next senior living Changemaker — or in this case — Changemakers? Up today is Jim Coughlin and Wendy Nowokunski, a duo of senior living leaders from Northbridge Companies. We recently announced the plan to share four final interviews, but as an added bonus, this particular interview features two industry pioneers. And with Northbridge being a Yardi senior living client, we’re ecstatic to share a snapshot from their conversation with Senior Housing News (SHN). Meet Jim Coughlin and Wendy Nowokunski CEO Jim Coughlin and President Wendy Nowokunski founded Northbridge Companies with one purpose in mind: ensuring their residents, families and associates live well and love life. And that purpose has held true for over 15 years, as they’ve built Northbridge into what it is today. Read more about Northbridge Companies.   In their interview with SHN, Coughlin and Nowokunski speak to the lessons learned over the course of their careers, each explaining how they navigate change. Read on for a highlight from their interview. SHN: Talk about a time when you tried to execute a change and things didn’t go according to plan. How did you pivot and what did you learn as a leader? Coughlin: I tend to be the one who focuses on acquisitions and growth. As we’ve alluded to in the past, we have a very engaged and vocal leadership team. One of the most comical experiences I had was when I went to our senior leadership and I said, “I’ve made progress. I think we’re going to move forward with this acquisition.” The leadership team said, “Absolutely not. We’re not doing that deal.” That was a really good sign … despite that we didn’t get to move forward with the acquisition. It really showed the empowerment of...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we are getting to know Dallas Court Appointed Special Advocates (CASA), which advocates in the community and the courtroom for children in the protective care of the state so they can grow up in safe, permanent homes where they can thrive. “Dallas CASA wants all Dallas children in the protective care of the state to have a caring, consistent advocate by their sides as they navigate a complicated and challenging child welfare system,” said Becca Leonard, chief development officer for the organization. “Funds from Yardi and other donors are used to help Dallas CASA recruit, train and supervise more community volunteers to serve children in need. We also use funds to better support caregivers and children as they navigate an overburdened child welfare system,” said Leonard. Tobias’ story From his birth, Tobias lived with his grandmother, or abuela. His drug-addicted parents lived in the home as well, but his grandmother was the caregiver who fed him, changed his diapers, sang him lullabies and rocked him to sleep. When his grandmother had to travel to Mexico to visit relatives, leaving his parents to care for him for one weekend. In that one weekend, they were referred to Child Protective Services after neglecting Tobias while using drugs. Tobias was removed from the home. By the time his grandmother returned from Mexico, Tobias had been transferred to a foster home. His grandmother did everything...

Planning for the future isn’t always easy, especially for seniors considering how they’ll navigate life as they age. Interestingly, most older adults recognize that they’ll need some form of assistance in the future — but less have concrete plans for how to get there.  That’s the focus of a recent study conducted by AARP, which surveyed 1,011 U.S. adults aged 50 and older. The goal was to gauge older adults’ attitudes related to long-term care planning. Curious about the findings? See below for a snapshot: Senior living study: Preparing for aging   According to the study — Long-Term Care Readiness — 68% of older adults believe they’ll need assistance with their daily activities in the future, but only 28% have thoroughly considered what life will look like when that assistance is needed.   In short, older adults may not be preparing for their aging journey as much as they could be. Relayed by McKnight’s Senior Living, the AARP study also revealed the following:    74% of those aged 65 and older believe they’ll need future assistance, compared to 64% of respondents aged 50 to 65Those aged 65 and older gave more thought to how they’ll live independently as they age, compared to respondents aged 50 to 65Not being able to live independently (63%) and becoming a burden to family members (62%) were the top two concerns noted by all respondentsFewer respondents were concerned about savings (59%), living in assisted living or nursing homes (58%) or not being able to age at home AARP sought to understand the effect of COVID-19 too, assessing whether older adults plan for the future more than they did two years ago. Read the study to learn what respondents said, and uncover additional findings. More research This isn’t the first...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, learn about SafeHouse Denver, which provides a full continuum of trauma-informed care for adults, children, and youth who have experienced domestic violence. “From our 24-Hour Crisis & Information Line and our Emergency Shelter to non-residential advocacy-based counseling and an Extended Stay Program, we support survivors with services that meet their needs at every step of their journeys,” says Rob Purper, Communications Manager. 2022 marks SafeHouse Denver’s 45th anniversary. “In addition to welcoming a new CEO this July, we’re excited to debut a new conference space that will improve our capacity for group counseling and other internal programs. We’re also expanding our Community Education and Youth Services to reach even more people with our mission of hope, healing, and empowerment,” Purper shared. All programs and services are provided to survivors free of charge, so Yardi’s donations have a lasting impact by directly funding life-saving work. “SafeHouse Denver is honored to continue receiving this vital support from Yardi. Not only does it make a real difference for survivors of domestic violence and their children, but it also reflects Yardi’s commitment to advancing the well-being of all people. We are truly grateful for this ongoing partnership that shares our mission with the community,” Purper said. Nova’s SafeHouse story At the height of the pandemic, Nova left her abuser and came to the SafeHouse Emergency Shelter with nothing but the clothes on her back. Nova’s...

It’s time to showcase the final round of senior living Changemakers — four industry pioneers who have shaped the industry as we know it. And if you’re new to the series, Changemakers is an annual compilation of interviews that Yardi is proud to sponsor for the fourth consecutive year. Presented by Senior Housing News (SHN), the interviews hone in on leaders’ evolving strategies, experience with change and plans for the future. First up in the final group of four is Changemaker Danette Opaczewski, the EVP of resident experience and COO of Revel Communities. About Danette Opaczewski From spending her career in hospitality, Changemaker Danette Opaczewski knows how to think outside the box when it comes to resident care. Since joining Revel Communities in January 2020, she has brought innovative ideas to the table and lead Revel toward a brighter future. Through her Changemaker interview, Opaczewski talks about her drive to redefine the resident experience in senior living. She shares the importance of pricing transparency, the initiatives her team is taking to improve diversity and more. See below for a quick highlight. SHN: Do you see yourself as a Changemaker? And are you always excited to drive change, even when it sometimes involves risk? Opaczewski: We recently rolled out a program within our communities called Predictive Index, with the goal of analyzing our team members’ behavior to help them fit into their role and the industry in general. After participating in the program myself, I learned that I’m considered a venturer. A venturer is defined as somebody who is open to change and is motivated by the ability to make an impact on what’s in front of them. I didn’t come into senior housing planning to be a changemaker, I came in and said, “This...

“So many new developments are under construction, they are likely to compete with each other – and not just for residents. Developers are also competing to find construction workers to build their projects.” National Real Estate Investor reported that in March 2017. The housing industry finds itself in much the same straits today. Even though more homes are under construction than at any time in the past five decades, supply chain slowdowns and labor shortages have added 25% or more to the time required to build a new home before COVID-19, according to the National Assn. of Home Builders (NAHB). Pandemic-related supply chain problems and rising interest rates add tens of thousands of dollars to the cost of a typical house. Rising interest rates and inflation will also add to the affordability challenge. “We need to be building around 1.5 million to 2 million homes just to keep up with the demographic demand coming from the millennials,” says NAHB economist Danushka Nanayakkara-Skillington. Key factors keeping the number of homes in the U.S. at low levels include: Materials More than 90% of builders report shortages of key materials, the NAHB reported in June. Windows, doors, heating and air conditioning equipment, appliances, cabinets and even garage doors are in short supply, with overall costs rising 19% year over year as of June. Building material “price and availability, along with persistent supply chain bottlenecks, remains the most urgent challenge for builders as they seek to boost production to meet rising demand,” NAHB chief economist Robert Dietz said in February. Labor The current worker shortage that traces its roots to the housing bubble collapse in 2008, when many homebuilders went out of businesses and their workers left for other industries. The current influx of new workers barely covers...

Looking for a lineup of senior living events coming this fall? There’s an array of opportunities to choose from — but fear not. We have a list to share with you, which includes three industry events packed with networking opportunities. Yardi’s senior living team will be attending each event, so if you’re eager to learn more about our senior living management software, we’ll explain how to schedule time to connect with us. Read on to see what each event has to offer. CALA Fall Conference & Trade Show Meet top decision makers including CEOs, CFOs, COOs, executive directors, clinical staff, marketing professionals and more at the CALA Fall Conference & Trade Show in Palm Springs, California! You can find Yardi at booth 60. Schedule time to meet with us and learn about our single connected solution, an integrated system designed for the unique needs of senior living providers. Event details: Renaissance Palm Springs Hotel & Palm Springs Convention Center Palm Springs, California November 7-9, 2022 NIC Fall Conference Join Yardi at the 2022 NIC Fall Conference in Washington, D.C. This networking event presents an opportunity to meet and engage with operators, investors and care partners in senior living. Team Yardi will be available to show you around our senior living management software, demonstrating how it works to elevate your communities. Fill out this form to schedule time to meet us there. Event details: Marriott Marquis Washington, D.C. September 14-16, 2022 Oregon Healthcare Association Annual Convention Network with us at the Oregon Healthcare Association Annual Convention in Portland, Oregon. Here you’ll gain insight into the staffing crisis and other top challenges in senior living. You can find team Yardi at the conference, ready to show you how the Yardi Senior Living Suite helps you empower...

The student housing industry continued to break records in the second quarter of 2022, according to the new quarterly National Student Housing Report from Yardi Matrix. An 87.2 percent preleasing rate and rent growth of five percent in June were the highest Matrix researchers have seen thus far for Yardi 200 universities, and transaction activity remains elevated despite rising interest rates. The preleasing rate is 10.1 percent higher than last year and 7.7 percent higher than pre-pandemic 2019. “With a few months to go in the leasing season, we expect Yardi 200 universities to start the fall term with record-breaking occupancy,” state Matrix analysts. The Yardi Matrix 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. “Confidence in the sector abounds as the fall semester approaches, and previous concerns of headwinds have largely been put to rest,” state Matrix analysts in the new report. While some sectors of academia are experiencing postsecondary enrollment declines, the losses have primarily been at community colleges and smaller schools rather than competitive private and public flagship universities.  Fears about online learning diverting students from campus have also proven to be unwarranted, as students have a strong preference toward attending college in person. Learn more about the expectations for student housing by downloading the new report. 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...

Figuring out how to best design your website can be a daunting task. This summer, REACH by RentCafe surveyed more than 12,000 people on RentCafe.com to learn more about their website design preferences.Read on to see the survey results and learn more about the most popular website design trends of 2022. Survey says… Which color schemes do you prefer? Calm and soothing: 73.5%Dark and moody: 15.2%Vibrant and bold: 11.3% Which two design concepts do you prefer? Soft, curved edges and shapes: 33.6%Plant or earth-inspired prints: 21.4%Subtle textures: 20.1%Sharp geometric shapes: 15.8%Colorful floral patterns: 9.2% How would you decorate your apartment? Clean and minimal. I like things calm, simple and purposeful: 59%Dark backgrounds and a roaring fireplace. I love a cozy library vibe: 16%Romantic countryside. I want to feel like I’m in a whimsical cottage: 15.7%Lots of patterns and colors. I like to bring laughter to life, the more the merrier: 9.3% I’d be most excited to live in an apartment that: Embraces a soft, relaxing atmosphere with calm colors: 47%Is sleek and modern: 29.5%Emphasizes sustainability in the design: 12%Has chic outdoor spaces: 11.5% When viewing a design, how do you want to feel? Calm: 68.6%Excited: 14.2%Intrigued: 13.5%Amused: 3.6% Japandi and minimalism Kicking off the top design trends of 2022 is Japandi. Neha Marathe, design manager at REACH, defines Japandi as a hybrid that’s “a brilliant fusion of Japanese and Scandinavian styles which are anchored in minimalism, clean lines and neutral colors.” Japandi design celebrates a blend of simplicity, functionality and intentionality, and it’s on the rise. In fact, between 2020 and 2021, Google searches for Japandi increased by 1,217%. An important element of Japandi is minimalism, which celebrates clean lines and uncluttered surfaces while avoiding excessive ornamentation. More and more, people are gravitating towards...

When making decisions to benefit senior living residents, providers need clinical data that is easy to find, interpret and share. With Yardi Senior IQ, an integrated business intelligence solution, intuitive clinical data is available at the click of a button. Ready to see how it works? Simply put, clinical data is drawn directly from Yardi EHR and presented via attractive dashboards. Our latest infographic showcases the details — including five ways Senior IQ simplifies your clinical workflow. Five ways Senior IQ simplifies your clinical workflow Senior IQ is built to streamline your clinical workflow from start to finish. With this single connected solution, you’re equipped to: Analyze resident falls: Capture metrics such as falls categorized by time of day and falls resulting in injury — uncovering what is jeopardizing resident safety — then develop action plans to prevent future incidents.Streamline reporting: Tap into insightful data that is automatically updated from the previous day. Each dashboard’s data points were carefully selected by Yardi’s clinical and compliance team to help you track quality measures and performance metrics.Track vaccinations: Track exactly how many residents have accepted, received or declined important vaccinations. Use vaccination rates to make critical decisions regarding health and safety protocols.Monitor antipsychotic usage: Check which residents are receiving antipsychotic medications, then verify that each resident has a proper diagnosis to ensure no antipsychotics are being administered without cause.Unite clinical and financial data: Access census information, financials and clinical data in one place. Use these comprehensive insights to make informed decisions for your entire business. We can’t forget to mention the clinical snapshot feature, an all-in-one dashboard that organizes your most needed measures like new orders, recent falls, past due assessments and more. Improve care, boost productivity and reduce costs With clinical data readily available, Senior...

Self storage rates keep edging up month after month due to persistent demand, according to the latest National Self Storage Report from Yardi® Matrix. Average U.S. street rates for 10X10 climate-controlled (CC) units rose $1 to $132 in June, while average rates for 10X10 non-climate-controlled (NON CC) units also rose $1 to $150, both all-time highs. “Demand continues to come from all directions, including the growth in home offices as most companies employ some type of hybrid strategy for knowledge workers, consumer spending on items such as clothing and furniture, and to a lesser degree businesses using storage for distribution purposes,” say Matrix analysts. Solid occupancy rates also enable property managers to push in-place rents, calculating that vacant units can be filled by new customers at higher rates. Nationally, the overall average street rate for all unit types increased 3.5 percent year-over-year in June. Although rates are at record highs, the growth rate has declined steadily since peaking at 14.4 percent in June 2021. However, market performance remains comfortably above historical trends. Concerns for the sector center around the slowing economy and rising interest rates that have produced a reduction in home sales, which drives storage demand. Storage facilities under construction or planned rose to 10 percent of existing stock this month. Strong fundamentals serve to incentivize development of new supply, but there is some concern that fear of oversupply may arise in highly penetrated markets. Yardi Matrix tracks a total of 4,115 self storage properties nationwide in various stages of development — including 1,524 planned, 755 under construction and 516 prospective properties. Matrix also maintains operational profiles for 28,455 completed self storage facilities across the United States, bringing the total data set to 32,570. Learn more about the state of the self storage...

Yardi is committed to supporting the community in every city where our offices are housed. Each year, the company distributes philanthropic aid to organizations selected by its employees. In 2021, Yardi offices supported more than 350 nonprofits worldwide. For the remainder of the year, we will be bringing you the stories of those organizations and insight into how they aid their communities. Today, we introduce you to People Serving People (PSP) of Minneapolis. People Serving People provides shelter, comprehensive services, and homelessness prevention for families in Hennepin County, MN experiencing housing instability. “On a given night, we have between 90 and 100 families staying in private rooms in our downtown Minneapolis shelter. While with us, they can access basic needs, high quality childcare, advocacy, and employment and housing assistance,” said Megan Kocer, Individual Giving Officer for PSP. “We also offer case management and financial assistance to families at risk of losing their housing, so they don’t need to come to our shelter. Using a trauma-informed approach, we empower parents and children and thrive to end the familial cycles of homelessness.” More families than ever seek shelter PSP has recently seen an uptick in the number of families needing assistance, Kocer said. “After the end of the eviction moratorium and expanded Child Tax Credit, the number of families staying with us has tripled, with the shelter quickly reaching capacity. Our first priority is to ensure that these families have the comfort, safety, and stability they deserve.” Another priority is to continue to build PSP’s homelessness prevention program so the number of families needing shelter decreases. “This will be done by through financial assistance, case management, and financial empowerment programming that matches families’ savings while in the shelter, so they have a larger safety net for...

From occupancy to staffing, various challenges circulate the senior living industry each year. Fortunately for providers facing these challenges, implementing technology solutions can ease the burden — and lead their communities toward a brighter future. Here at Yardi, we strive to help providers navigate obstacles with our senior living management software. This includes MBK Senior Living, who recently reached their 10-year anniversary as a Yardi client. From our team to MBK’s, it’s an honor to celebrate this special milestone! About MBK MBK Senior Living follows a people-first approach in senior living. Putting residents’ health and happiness first — emphasizing exceptional care, nutritious dining and the highest level of respect — is what makes their communities shine. Founded in 1990, MBK offers options in assisted living, independent living and memory care. And 30 years of service has led the organization to continuously evolve and innovate, ensuring residents receive the best possible care. Today, MBK owns and operates communities in California, Oregon, Washington, Utah, Colorado and Arizona. Navigating industry challenges Like other providers, MBK has worked to strategically navigate the staffing crisis. With help from Yardi software solutions and decades of experience steering their communities forward, they’ve found creative ways to attract and retain staff. Highlighted in a Senior Housing News article this year, MBK’s staffing approach includes an executive director training program, which has led to the promotion of several internal candidates across their communities. In turn, vital team members have stayed on board throughout the staffing crisis. In addition to promoting internal candidates, MBK has also recruited new, qualified staff by treating candidates the same way they approach prospective residents: with respect and kindness. As a result, the staffing crisis hasn’t impacted MBK’s inquiries, tours and move-ins. Instead, the Irvine, California-based organization continues to...