We love sharing positive stories from senior living communities, especially those that involve residents working together to make a difference. That’s certainly the case with Yardi client Harmony Senior Services, whose residents at their Greensboro, North Carolina community have been aiding the local homeless population. Residents come together With a dedication to help those in need, residents at Harmony at Greensboro have been working to aid the local homeless population for the last six months. It was resident Peggy Yow who came up with the idea — creating sleeping mats from plastic grocery bags — and her fellow neighbors joined in to help. “I thought of all the cold nights, the wet ground, that maybe this will help them at least sleep and rest a little better,” said Yow to WFMY-TV. The inspiring story was also recognized by Argentum Senior Living, who shared it in their e-newsletter.   If that alone doesn’t show how caring these senior living residents are, just wait! Each sleeping mat required over 2,000 grocery bags to be completed. It was no easy undertaking, but the Greensboro residents saw the value in the project — helping those in need. Their goal was to make 12 mats in total. Yow shared that the project “has brought us much closer, we know each other better. It’s been very enlightening for each of us.” About Harmony Senior Services Harmony Senior Services was founded on the belief that people deserve higher quality senior living options. They proudly provide the same excellent care and love to residents and their families as they would their own. Their goal is to meet each resident’s individual needs while exceeding expectations. Harmony offers living options such as independent living, assisted living and memory care. And for Harmony at Greensboro,...

The residential real estate sector is going to see a few changes in the near future as businesses continue to open up their office environments, travel and immigration resume to pre-pandemic levels and Canadians gain a sense of confidence in venturing out of their homes on a more regular basis. Though human interactions will see a subtle shift from the pre-pandemic era, how residents use their living spaces will continue to evolve. This is an opportunity for real estate companies to re-evaluate the ways in which they manage their properties. Regardless of their approach to marketing, resident relations and other operations – the value of a viable energy strategy is gaining importance in the Canadian real estate sector. Residential property owners can increase asset values, boost stakeholder satisfaction and ensure compliance by adopting smart energy consumption practices. That’s best done strategically, especially as costs remain under heavy scrutiny and ESG accountability assumes ever-greater importance. First step: Utilize utility data to minimize costs Understanding and documenting energy consumption across a portfolio should be the first step in building a value-add energy strategy. Why? Because this operational area is one of a property’s largest controllable operating expenses. Understanding and harnessing utility data can make a property more valuable, more likely to retain residents, more easily marketed for sale, more compliant and more attractive to prospective tenants and investors and less likely to require concessions to rent. Advanced automated utility expense management systems also reduce duplicate payments, late fees, system interface errors and inaccurate spend measurements. They replace the cumbersome process of tracking consumption in excel, and wading through stacks of paper utility bills with digital invoice transmission and automated usage validation. Along with creating a single solution for invoice tracking, payments, budgeting and reporting, these systems...

Yardi has been named for the sixth time to the Forbes Cloud 100, the definitive list of the top 100 private cloud companies in the world. Yardi was a member of the inaugural Cloud 100 in 2016, landed at No. 34 for 2020, and is No. 50 this year. “We’re honored that Forbes has recognized Yardi once more for our industry-leading cloud solutions,” said Jay Shobe, senior vice president of cloud services at Yardi. “To consistently rank among these prestigious companies reflects the efforts of our employees and the tremendous support of our clients worldwide.” The evaluation process involved four factors: market leadership (35%), estimated valuation (30%), operating metrics (20%), people and culture (15%). The Forbes Cloud 100 judge panel, which includes 34 major public cloud company CEOs, was responsible for selecting and ranking the top 100 companies globally. “The companies of the Cloud 100 list represent the best and brightest emerging companies in the cloud sector,” said Alex Konrad, senior editor at Forbes. “Every year, it gets more difficult to make this list — meaning even more elite company for those who do. Congratulations to each of the 2021 Cloud 100 honorees and to our 20 Rising Stars up-and-comers poised to join their ranks.” “The private cloud ecosystem continues to see historic rates of digital transformation,” said Byron Deeter, partner at Bessemer Venture Partners. “Private cloud valuations are getting bigger as the market’s appetite for cloud continues to grow. These founders represent the absolute best in cloud computing today, and they appear likely to follow in the footsteps of our esteemed Cloud 100 alumni. Congratulations to these cloud leaders!” The Forbes 2021 Cloud 100 is published online at forbes.com/cloud100 and will appear in the September 2021 issue of Forbes magazine. About Bessemer Venture...

Yardi is excited to help Edward Rose & Sons celebrate its 100th anniversary. The real estate development and management company has leveraged tradition, innovation and technology to reach new heights while honoring long-held values. History in the making Edward Rose & Sons began as a single family home builder with four properties constructed in 1921. By the 1960s, the organization expanded to multifamily housing. As self-proclaimed “frontier developers,” the company selected sites in minimally developed suburban areas. The properties address the needs of the growing working class. With this innovative strategy, Edward Rose & Sons helped to nurture a new era of successful young adults and thriving new towns. Since then, Edward Rose & Sons has established its name in luxury apartments and senior living. With each new vertical, the organization relies on its founding principles to guide the way. “We want to make sure that the residents get a good value for their money. That’s why we’ve been successful over the years,” says Greg Stowers, division manager at Edward Rose & Sons. The Michigan-based organization celebrates its centennial with a presence in 18 states. Properties represent 65,000 multifamily units with nine under construction in Washington, Michigan, Wisconsin, South Carolina and Illinois. The new properties will add 1,000 units to the Edward Rose & Sons portfolio next year. Old meets new: technology ushers Edward Rose & Sons into the future Technology is an integral part of the smart growth strategy for Edward Rose & Sons. The developer implements Yardi Job Cost, Asset IQ, and Revenue IQ for efficient project management and optimal rent performance at its properties. The company that began through word-of-mouth referrals still values its reputation. To manage its online reputation, Edward Rose & Sons relies on Yardi RENTCafé CRM for its...

Did you know that companies in the top 25% for gender diversity are 15% more likely to have financial returns above their industry medians? Or that innovation is six times higher at companies with the most equal workplace cultures? Commercial real estate is among the many industries making gains towards equity, and it’s not coincidental. Heather Brady is one of thousands of women actively promoting change from within. Meet Heather Brady As the regional director of sales for Yardi Canada, Heather is accountable for the success of both the Voyager and the Breeze Premier sales teams. In total, there are 13 sales executives in Canada engaging with clients from coast to coast.   That’s a lot of terrain to cover. “There is never enough time in the day,” she laughs. “We have a large market share so that’s a lot of clients and still lots of opportunities. Teamwork and prioritization are key.” Heather handles each day in stride, guiding her team to foster relationships with existing and new clients while achieving corporate performance targets. “At Yardi, we bring a lot of new products to market every year and all products are developed with clients’ input or their benefit in mind,” says Heather. “It’s a key to our success.” She continues, “I love getting feedback from clients about how much our products have helped their organizations. During COVID, our products allowed clients to automate their AR, AP and leasing functions. That is so valuable, and we received such great feedback. It feels wonderful to know we’re valuable to their organizations, and of course it makes us feel energized to get more clients using these products!” Foundations for success Game-changing products are only part of the reason that Heather has forged a career with Yardi. She...

In a one-of-a-kind series sponsored by Yardi, Senior Housing News (SHN) is recognizing pioneers driving the future of senior living. Deemed 2021 Changemakers, these leaders have taken unique steps to transform their organizations — tackling unforeseen challenges along the way. Say hello to Adam Kaplan Adam Kaplan is an accomplished Yardi client and the founder and CEO of Solera Senior Living. Selected as a member of this year’s Changemakers class, Adam has shown that taking an innovative approach to senior living is key to evoking positive change. Since founding Solera in 2016, he’s pursed a focused strategy to take on complex projects — helping Solera grow into an organization with a hospitality-driven culture, empowered teams and a commitment to resident care. With insights captured in his Changemaker interview, Adam shares where Solera is headed next, how he’s driven change and what he’s learned during his years in senior living. Here’s a highlight: As you think back on your career in senior living, what changes have you driven that you’re especially proud of? Many of the changemakers [in this series] are the pioneers who paved the way for people like myself. I don’t see myself as a changemaker, I see myself as somebody who has been fortunate enough to build on a foundation that was put in place by the incredible senior living entrepreneurs who came before me. That said, the industry today is still led by many of those pioneers. While we’ve attracted a lot of talent to the industry, I think we’ve done a pretty poor job of attracting talent into operations as the industry matures. Many entrepreneurs have come into the industry through startups in technology, services and media, but the same cannot be said for operating companies. When I left Senior...

In Arizona, there are only 26 affordable and available rentals for every 100 extremely low-income renter households, reports the National Low Income Housing Coalition (NLIHC). State leaders have approved a state housing tax credit to offset the affordable housing shortage. New and expanded programs for affordable housing in Arizona The program provides $4 million per year in state credits until 2025. It is supported by the 4% federal low-income housing tax credit (LIHTC) program. Combined, builders can seek relief up to 50% of the project cost. Analysts suggest the credits will prompt about $160 million in investments during that period. “That will make a significant dent in our housing shortage in Arizona,” says Tom Simplot, director of the Arizona Department of Housing (ADOH) in an interview with Affordable Housing Finance. Additionally, the ADOH will offer more programs that work in tandem with the 4% LIHTC. These programs result in $21 million in state and national housing trust funds. “What we learned from our research of other state programs is that it’s very impactful and powerful to couple the state credit with the 4% credit,” says Ruby Dhillon-Williams, assistant deputy director of housing and community development. To further stimulate growth, ADOH is revamping its qualified allocation plan (QAP). The current plan includes one cycle of 9% credits and 4% credits less consistently. The new programs are slated for release in QAP 2022. The national affordable housing crisis Per the NLIHC, there are fewer than four affordable rental homes for every 10 extremely low-income renter households nationwide. Not a single state has an adequate supply of rental housing to meet the needs of the poorest renters. As a result, “70% of extremely low-income renter households are severely housing cost-burdened, spending more than half of their limited...

If you’re like many multifamily operators, the technology you thought would be “nice to have” became “must have” when COVID-19 hit. With those must-have contactless services and automated transactions in place, companies are now asking, “what’s next?” to move business forward. To answer that question, we talked to Chad Munitz, vice president of development at Towne Properties, Jennifer Price, director of systems at Walton Communities, and Greg Slang, executive vice president of asset management at KETTLER, about the metrics they’re focusing on in 2021, and how it’s shifted the way they do business. The bottom line: They can still improve net operating income beyond rent increases by reducing expenses, increasing efficiencies and leveraging new technology in their operational processes. Keep reading to hear their stories and get some ideas to incorporate in your business. Virtual tours and online leasing According to Munitz, Towne prides itself on being a high touch management company — and technology has increased its capabilities to offer more to its residents. With the onset of the pandemic, Towne quickly provided more contactless services. “When the pandemic started, one of our initial fears was how do we keep those relationships and touches going with all of our residents. It allowed us to figure out the services we wanted to roll out quicker — including allowing people to pay rent online and sign leases digitally. We really started focusing on a centralized leasing and management process and honed-in on some of our urban properties where we were seeing the most negative impacts of the pandemic in terms of revenue. So, we centralized all our leasing and management at one location and implemented technology to support it. We were as in touch with our residents as we were before, and we increased ways...

Yardi is pleased to applaud client Brightview Senior Living — a Baltimore-based company that’s delivered over 20 years of senior living services — for earning a spot on the Fortune Best Workplaces in New York™ 2021 list. The impressive accolade comes after Brightview ranked on the Fortune 100 Best Companies to Work For® list earlier this year.   Brightview’s company culture gains recognition In addition to operating vibrant senior living communities and delivering excellent care, Brightview has created an exceptional culture for their employees. They’ve developed a workplace where associates feel empowered and cared for — and their hard work hasn’t gone unnoticed. Earning the Fortune Best Workplaces in New York™ recognition is something to be proud of. The accolade is largely based on direct feedback from employees, whose survey results are benchmarked against other organizations. Placement on the Fortune list means Brightview’s New York associates have spoken volumes about the company’s enriching environment.   Brightview owns and operates three communities in the state including Brightview Lake Tappan, Brightview Sayville and Brightview Tarrytown. “We are THRILLED to announce that Brightview has ranked on the Fortune Best Workplaces in New York™ 2021 list for its exceptional company culture,” wrote Brightview on LinkedIn. They also announced the news on their company blog, where President Doug Dollenberg celebrated the recognition. “We know that if we’re a great place to work, in turn, our communities will be a great place to live,” shared Dollenberg. “For Brightview associates to have provided such extraordinary feedback during the challenge of a pandemic is truly humbling.” Some survey feedback from Brightview associates included: 94% believe “You are made to feel welcome when you join the company”93% believe “I feel good about the ways we contribute to the community”92% believe “My work has...

After first getting to know Gen Z, the team at REACH by RentCafe investigated how this tech-savvy generation searches online so that you can learn the best way to attract these young renters. Gen Zers have developed specific search and viewing habits For a generation that has grown up glued to computers, phones and tablets, Gen Zers have had years to cultivate their online search habits. In a series of 36 video interviews with members of Gen Z, REACH by RentCafe found that participants tended to start their search on Google, and often used long-tail search phrases, averaging 4.9 words per search. This is higher than the overall average of 4.2 words. Additionally, Gen Z tends to favor key words such as “Best,” “Cheap” and “How to” when searching online. Members of Gen Z also spend a lot of their time online watching videos, and they have specific preferences when it comes to which type of clips they like to watch. In a survey of over 10,000 Gen Zers published on rentcafe.com, 69% said they preferred a combination of user-created and professionally produced videos. This generation has come of age online, and as these renters enter adulthood, it’s clear that they are not only fully equipped to navigate the internet, but they’ve also developed a specific way of doing so. Gen Z attention span < goldfish attention span Did you know that with an estimated attention span of just 8 seconds Gen Zers are even less alert than their millennial counterparts (12 seconds) and, yes, goldfish (9 seconds)? In one video interview from the series, Gen Z member Keona spoke about how, when searching online for restaurants, thousands of results could be “overwhelming.” She continued, “I have a very short attention span, and I...

COVID-19 has changed the way we look at senior living. It’s forced us to question the structures and policies currently in place — the systems designed to care for our aging population. How and where do seniors prefer to age? Are the current systems reflective of their preferences? How did COVID-19 shed light on the values underpinning these systems? These questions were covered in a recent webinar: The Future of Elder Care in Canada. Presented by The Empire Club of Canada, the webinar gathered experts including: Panelist Linda Knight, CEO at CarePartnersPanelist Dr. Samir K. Sinha, Director of Geriatrics at Sinai Health System and University Health NetworkModerator André Picard, Health Columnist at Globe and Mail With important questions posed by André, Linda and Samir’s insightful conversation revealed how Canada’s healthcare system needs redesigning. From exposing society’s view on elder care, to discussing the effects of COVID-19 to explaining the overwhelming need for home care support — they shared eye-opening information. Let’s take a look. COVID-19 reveals need for home care options Starting the panel with information on COVID-19’s effect on Canada’s seniors, the discussion turned to Linda, who explained the flaws in the country’s healthcare system. Mainly, how the shortage of public support workers (PSWs) and nurses working in home care has increased in recent years, with that trend being further amplified by COVID-19. “The PSW shortage hit us about four or five years ago, but what also has come shortly behind that is the nursing shortage in home care. We’ve lost pace with being able to pay them what they could make in a hospital — so there’s been unintended consequences,” explained Linda.   She continued by noting that when COVID-19 first hit, a large portion of home care nurses made the switch...

This year, Senior Housing News (SHN) has honored a variety of senior living leaders through their Changemakers series. And without fail, each member of the Changemakers class is inspirational, unwavering and transformative in their approach to industry obstacles. That certainly describes Yardi client Fee Stubblefield, founder and CEO of The Springs Living. Headquartered in McMinnville, Oregon, The Springs Living owns and operates multiple senior living communities across Oregon and Montana. Fee started the company in 1996 with a mission to create communities that felt like home and since then, he’s elected positive change in the company’s design and operations. That’s exactly why he was chosen as a 2021 Changemaker and interviewed in this special series, sponsored by Yardi. In this excerpt from his SHN interview, you’ll learn how Fee has led The Springs Living through a period of change — and how he’s preparing for the future. Plus, you’ll get an inside look at Fee’s approach to innovation, his dedication to senior living and his tolerance for risk. Do you agree that change-makers are risk-takers, and secondly, how do you describe your own personal tolerance for risk? I would say that we’re probably categorized as both innovators and risk-takers, but I don’t see it that way. I don’t see it as risky. This is what we’ve learned. This is what we believe the market wants and we have hedged it in ways that we think makes sense — that eliminates risk. It’s been really fascinating to see how different people look at the mountain from a different side. When you go on a hike, you look up the hill and you think, okay, I’ll remember that spot when I get there, and then when you get up there, it looks completely different. Our view...

Federal tax reform enacted in December 2017 reduced or eliminated capital gains taxes for investments directed toward multifamily, commercial and self storage real estate located in more than 8,700 low-income “opportunity zones.” This source of capital was expected to seed startups, accelerate business expansions, create jobs, improve housing options and revitalize built environments in areas where about 35 million Americans live. A Yardi Matrix white paper published in 2019 noted that the zones initially appealed to “a new base of largely untapped investors” and offered value-add opportunities in “new markets that were thought to be too small or risky as investment strategies.” Many policymakers touted opportunity zones as a way to create jobs and lift up underserved communities and minority-owned businesses. Critics assert that the program lacks transparency and mostly helps well-heeled investors and developers. A year-and-half since investors joined the program in earnest (many waited until final Treasury Dept. regulations were released in December 2019), has the opportunity zone initiative fulfilled its promise? Expert opinion is split. The White House Council of Economic Advisors, for example, reported in October 2020 that the program had attracted $75 billion in new investments to distressed American communities, $52 billion of which wouldn’t otherwise have entered the zones, and increased private property values within the designated areas by 1.1%. This infusion of capital represented “a powerful vehicle for bringing economic growth and job creation to the American communities that need them most,” holding the potential to “lift at least one million Americans out of poverty [and decrease] the poverty rate in opportunity zones by 11%,” U.S. Department of Housing and Urban Development official Denise Cleveland-Leggett said at the time. Michael Novogradac, managing partner of Novogradac, a San Francisco-based professional services organization, says the program “has seen notable...

At every step of your journey, there are opportunities to elevate your asset performance. Today’s technology can equip you with the tools and insights needed to make the most of every square foot. Read on to learn how you can maximize rents at every stage of your project. Design for density To maximize net rentability, begin with your design. Dense multifamily housing offers more units and the potential to garner more rents. Data from Hanley Wood explores ways to increase density in multifamily, along with the benefits and disadvantages of each methodology. Explore site plans that truly show the relationships between design options and core development metrics. Of the most favorable options, you might: apply for a variance to decrease the setbacks on the site. This relatively simple adjustment can boost your buildable square footage. increase the net rentable square feet (NRSF) by increasing the depth of your units at the desired square footage. In longer runs, you can increase density and the potential for rents. get creative with amenities. When possible, decrease their size and explore options such as an outsourced gym with Amenify or outsourced communal space. With improved density, you help to increase your NRSF and position yourself for greater net rentability. Maximize rents with the latest data If you’re working with a built structure, there are ample opportunities to maximize rents. Implement a program that optimizes the value of your asset using big data, predictive analytics and prescriptive actions. Overall, this approach helps to keep costs low, increase your revenue and mitigate costly operational risks. Consider a solution that allows you to benchmark your operating income and expenses against your competition. Transparency within your portfolio is crucial as well. A robust system synthesizes data throughout your integrated property management, leasing...

To effectively serve their communities while navigating a growing portfolio, senior living organizations need support. For many, implementing integrated senior living management software is key. Meet Anthology Senior Living, CA Venture’s senior living platform that develops, acquires and operates 34 senior housing communities across the United States. Their portfolio includes independent living, assisted living and memory care with uniquely designed communities that provide residents with meaningful hospitality and care. Kim Smart As they grew and expanded their community footprint, Anthology needed the right software solution — a single connected system built for the unique needs of senior living providers. They welcomed the Yardi Senior Living Suite. To dive deeper into the importance of utilizing a single connected solution, we sat down with Kim Smart, director of systems and support at Anthology. Smart discussed the organization’s journey to now operating 34 communities, explaining the role the Yardi Senior Living Suite has played in driving Anthology’s success. Here’s a highlight: The Challenge: Navigating a Growing Portfolio With a range of communities to serve and rapid expansions underway, Anthology Senior Living needed a solution that did it all. They searched for senior living software that combined resident care, marketing, sales, finance and more on a single platform. To fulfill the needs of their many communities, Anthology chose a single connected solution they knew they could trust — The Yardi Senior Living Suite. The Solution: Yardi Senior Living Suite The Yardi Senior Living Suite is powered by a secure cloud-hosted database and unites property management, finance, marketing, resident care and more on a single connected solution. The Story: Single Connected Success, Efficiencies Gained & Unparalleled Support With extensive experience in systems analysis, Director of Systems and Support Kim Smart knew the value of interconnected tools. Whether it be...

This is the final week to submit applications for The National Apartment Association (NAA) Innovation in Diversity Grant (IDI). The program aims to advance diversity and inclusion in the rental housing industry through impactful education and hiring practices. NAA seeks to “inspire the next generation and strengthen those whom we work and exist to serve.” To do so, NAA has designated $25,000 per fiscal year towards the IDI grant. NAA member associations, property management firms, supplier partners and related organizations are eligible to apply. Creating a more equitable multifamily industry To qualify, participants are encouraged to align their program objectives with the ideals of the NAA Diversity and Inclusion Vision Statement. Additionally, the proposals must reflect the NAA’s dedication to an inclusive and supportive workforce environment that is rich in diversity. Applicants must propose innovative ideas that will result in meaningful contributions to the multifamily industry. NAA supports projects that fall into three main categories: Education Programs should demonstrate methods to improve diversity, inclusion and awareness within the applicant’s organization. Leadership Programs should enhance the presence of diversity among leadership and boards within their organizations. Such programs may create specialized training tracks for marginalized groups. D&I Projects Programs should bolster the presence of underrepresented groups at all levels in the industry. Opportunities may include but are not limited to scholarships and innovative steps towards more equitable hiring practices. Selecting finalists Applications will be received by the NAA Diversity and Inclusion Committee. Evaluators analyze each applicant’s potential for measurable outcomes, detailed budget, program timeline and support of NAA’s Diversity & Inclusion vision. Home Depot Pro: supporting diversity and inclusion in multifamily housing Home Depot Pro is a proud sponsor of the IDI Grant. The world’s largest home improvement retailer released a statement, stating, “We are...

Have you ever heard the phrase, “practice what you preach?” It’s a call for practiced values to align with value statements. At Yardi, we’re in the business of creating software solutions that are so robust and user friendly that even we would use them—and we do. Our latest release, Yardi Corom, makes lease management efficient, simple and transparent. We’ve implemented Corom at home to navigate back-to-office protocols. You Meet Corom Corom is a workplace management solution for commercial occupiers. The Corom suite simplifies end-to-end corporate real estate organization such as lease management, occupancy tracking and desk hoteling for flexible workplaces. Discover additional powerful features in Corom. The platform is scalable to any size business and the needs of any corporate occupier. We are using Corom for back-to-office protocols in our 20 U.S. offices. Yardi implements Corom for desk hoteling In July, Yardi offices began to reopen on a rolling schedule. To enhance safety and convenience, employees are able to make workspace reservations through Corom. The platform serves as an internal occupancy tracking and desk hoteling system for offices that are reopening at partial capacity. Currently, settings in Corom ensure that offices operate at no more than 25% seating capacity. This permits ample space between active desks during occupancy. The scheduling system also permits time for cleaning desks and equipment between uses. Corom lets workers customize their work experience Customization options within Corom permit commercial providers to promote greater occupant satisfaction. At Yardi, each workspace includes two monitors, a mouse, keyboard, phone, and one of two docking station styles. Employees can select the docking station that they need when they’re making the reservation. Employees bring their laptop and headset or request a loaner set. Employees can even reserve the desks that they used before office...

Multifamily asking rents jumped an average of 6.3% year-over-year in June, the largest leap ever recorded by Yardi Matrix, a leading industry data tracker. The national average apartment rent increased $23 last month to $1,482, another record, and single-family home rents were up 11% year-over-year. “These are the largest year-over-year and monthly increases in the history of our data set,” said Jeff Adler, vice president of Yardi Matrix. Analysts point to increased household savings and government stimulus funding as factors that have kept the multifamily industry stable during the pandemic period, and now able to rebound as the economy improves. The newly released data is an economic indicator of post-pandemic recovery across the U.S. The largest increases were documented in the lifestyle apartment sector. Renters are also now returning to many gateway markets that saw outbound migration for most of the last year. A supercharged housing market is also pricing out some potential buyers, leading residents to remain in apartments. “Rent growth will not be able to continue at these levels indefinitely, but conditions for above-average growth are likely to persist for months,” Adler said. The increases reflect growth in what landlords are asking for unleased apartments. Renters renewing leases may also be seeing increased rents, but likely at lower levels. Migration is pushing up rents in Southwest and Southeast metros like Phoenix (17.0%), Tampa and California’s Inland Empire (both 15.1%), Las Vegas (14.6%) and Atlanta (13.3%). These metros were lower cost compared to larger gateway metros. Get more insight on the historic 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...