Some industries, such as technology and online media, are doing well amid COVID-19, even as the pandemic cuts a swath through virtually every public health, political, social and economic structure. Other segments of the economy, such as travel and hospitality, face a perilous future. And what about the vital energy sector? Before the pandemic hit, energy demand was projected to grow 12% between 2019 and 2030, as developing nations broadened their power generation capacities. But COVID-19 “has brought the generation of energy from fossil fuels to breaking point,” says the World Economic Forum, with global energy demand declining by 5% in 2020. Despite a larger population and world economy, demand in 2050 will be about the same as it is today, according to risk management and quality assurance experts DNV GL, due partly to the effects of COVID-19. “The scale of the fall in demand, the speed of change, and how widespread it has been have generated a radical shift that seems to be more than a temporary short-term drop in demand for fossil fuels, at least in the power sector,” Nelson Mojarro, a World Economic Forum advisor, said in June. That development has opened the door for renewable energy generation to play an even more prominent role on the world energy scene. Renewables, including solar, whose cost has fallen by 82% over a decade, are the lowest-cost source of new power generation, according to the International Renewable Energy Agency. That trend is expected to hold over the foreseeable future. And COVID-19, Mojarro says, “has had a game-changing effect in accelerating the clean energy transition in the power sector.” Within 10 weeks of the start of widespread lockdowns, according to data compiled by the International Energy Agency, the U.S. increased its renewable energy consumption...

As public health restrictions lift, many homes are welcoming loved ones, guests and clients again. The influx of visitors may have you second guessing your renters insurance policy. If you’ve wondered if you’re liable for COVID-19 transmitted while in your rental, read on. What is the “liability” part of your renters policy? Liability insurance is a specific field of coverage on your renters insurance policy. It protects you, the purchaser, from the risk of liability resulting from legal action. Such legal action may pertain to bodily injury or property damage that guests experience while at your home. When we think about liability insurance for rentals, slips and falls come to mind. If someone delivers a mattress to your house, trips and falls over an extension cord in the hallway, that’s a matter for your liability insurance. But what happens when the threat is unseen? Hundreds of flu seasons have come and gone since the advent of renters insurance. Few people, however, considered their liability if someone contracts an infectious disease while in their rental. Infectious diseases such as the common cold, flu and COVID-19 may cause bodily harm, but they are treated differently under liability insurance provisions. The liability of disease is a contentious topic: to what degree can a property owner or tenant protect occupants and guests? What measures are they required to take, legally or ethically? How precisely could guests pinpoint the exposure to the rental? Answers will vary, but for nearly all renters, your liability is limited. The majority of liability clauses in renters insurance policies contain virus and pathogen exclusions. This includes liability, loss of use and personal harm due to exposure to a virus. Consider these CDC guidelines for guests visiting your community. Does remote work influence my liability...

A registered nurse quoted on the American Assn. of Nurse Assessment Coordination’s website says that obtaining baseline patient health data “is an invaluable tool to us in long-term care. It involves so much of the nurse and her relationship with the resident and getting them to get to that highest level of function. It is so important, it’s so exciting, and it’s a tool that just drives great care.” Completing that assessment, known as the resident assessment instrument minimum data set (RAI MDS), is a mandatory element of guiding resident care planning and monitoring in long-term care settings. But compiling the required information manually often involves uncoordinated efforts by multiple parties who don’t always know if the information they’re dealing with is current. Nurses, administrators and other senior care providers now have the means to complete the RAI MDS process more easily and accurately. Yardi Long Term Care, a new mobile electronic health record solution available in Canada, saves time and eliminates errors by automatically prefilling the RAI MDS with data from previous assessments through electronic workflows. Staff members updating an RAI MDS don’t have to spend time entering data or backtracking through a lengthy paper trail. Mobile charting that sends resident data from the point of care to the MDS saves even more time. Yardi Long Term care also tracks frequently changing regulations and automatically checks submissions for fatal errors, missed fields and inconsistencies. It provides a clear audit trail, with user logs, change reasons and up-to-date chart data housed in a centralized platform. Yardi Long Term Care is the Canadian version of Yardi® Skilled Nursing, a new solution that sends resident data from the point of care directly into the MDS. “Accurate data from Yardi Long Term Care will equip senior living...

Social distancing and partying don’t seem to go hand-in-hand. With a little creativity, though, you can host fun holiday events for your community while honoring safety protocols. Check out these five fun holiday party ideas that add value, encourage a sense of community pride and resident loyalty. Themed partner yoga party The first step in hosting a successful partner yoga party is to select the location. Warmer locations (ahem, southern states) may still make use of their tennis courts and other outdoor spaces. Cooler climates may consider their roomy community club or renting space in a local brewery or event center. You’ll want an area that is spacious and level. Once you decide where to host your partner yoga party, the rest is super simple! Contact a local yoga studio and request a private teacher for your event. The teacher should be familiar with the basics of partner yoga or acro yoga. Once the details are set, have residents register via the community concierge. Encourage residents to find a same-household partner and dress in holiday-themed activewear. (Cozy holiday pajamas would work, too!) On the day of the event, divide your space: every ten feet, leave a sticker, party favor or other marker. That will let duos know where to place the center of their mats. Then the experienced yoga teacher can guide pairs through safe yet fun postures that encourage teamwork, communication and laughter. If you charge for the event, consider donating a portion of the proceeds to a local nonprofit. #ShopLocal wine + beer tasting Collaborate with a local wine shop or brewery for this unique spin on bar hopping and wine tasting! Many local shops offer tastings that encourage clients to experience new brands or unique beverages. You can replicate the experience...

It’s a tale of two outlooks for the industrial and office real estate sectors, reported the experts from Yardi Matrix and CommercialEdge in a commercial real estate webinar presented on Nov. 11. As the end of 2020 nears, each market has a different trajectory. For owners and investors in the office sector, the full impact of the pandemic and its impact on the way employees work, especially in the knowledge and technology sectors, has yet to be unveiled. Major office properties tend to operate on long leases, so while rent remittance has been generally solid this year, as leases come to term in 2021 things could change. The big question, said Yardi Matrix vice president Jeff Adler, is what use of office space looks like in the future. One thing 2020 has taught us is that it likely doesn’t look like the old model of spending five days a week in a cubicle. “There is a re-evaluation of ‘what is the purpose of space?’ Was the purpose of that space that people got things done there? Or was it a culture purpose? If it was simply to do a task, it’s become clear that task can likely be done at home. How space is used, why space exists and why you need it in the first place is going to be reimagined,” Adler said.  “What kind of office footprint do you actually need to achieve the business goals that you have?” The answers to those questions will determine the floorplans and lease terms of offices post-pandemic. Also at play: where they’re located (public transit use is still dramatically decreased) and how many workers will come to the office on any given day. Right now, going back to a 5-day office work week seems highly...

The topic of safely re-entering the workplace has now been top of mind for over half a year. While some businesses are still closed and employees are working remotely, there are a growing number of offices who have decided to open their doors following local safety guidelines. On a recent BOMA webinar, a group of service providers ranging from software vendors to elevator engineers to wholesale suppliers discussed best practices for ensuring employee health and safety while successfully reopening their physical spaces. Brian Sutherland, Yardi industry principal, detailed some trends that Yardi has seen based off research from CommercialEdge: Office vacancy is currently at 10-15%. Since April, subleasing is up 35% as tenants try to either downsize or upsize for distancing purposes. New construction is down 40% from the previous year among office assets. Office demand is changing: f leasing terms, private office demand and suburban models are all growing. Rent is being paid, but physical occupancy is at risk: landlords are considering whether long-term leases are sustainable or whether tenants will not need the space they’re paying for. Only about 12% of New York City workers are back in office, as of latest estimates. There are specific questions to analyze when considering a move back into the office. Employees who want to confidently re-enter the workspace are asking how to accurately report health status updates and how to stay connected with colleagues. Office managers, on the other hand, are tasked with ensuring a safe and orderly re-entry while assessing how to limit available workspace to promote health and safety and follow guidelines. Landlords want to encourage tenants to return to the office, but they first need to understand their tenants’ use and occupancy of the space. In order to help answer some of...

Remote work environments have their fair share of advantages and disadvantages. Seven months into telecommuting, Yardi employees across the U.S. weigh in. March madness, IT edition In mid-March, Yardi’s IT department miraculously (read: after much hard work and dedication) managed to transition more than 30 global offices into a remote work environment in about two weeks. It was no easy feat. The diligence of the IT department and the patience of fellow employees made for a relatively smooth transition. Virtual town hall meetings kept employees up-to-date on the latest developments from the corporate headquarters. Productivity remained steady as team members learned to navigate workflows from home. Gradually, a new normal set in: video conferencing replaced conference rooms and chats replaced quick conversations over cubicle walls. Social committees reconvened team-building activities to maintain camaraderie and engagement. Pets became coworkers who made (sometimes) unsolicited appearances on calls. Yardi team members around the world began to witness firsthand the joys and challenges of their remote work environments. Different, but still efficient Some characteristics of office culture simply cannot be replicated when working from home. Chatting with coworkers in the lounge, grabbing lunch together and team functions are just a few of the office features that employees missed. “Working at home can be a bit stagnant,” admits Luis Estrada, a marketing writer in Miami. He conducted his interview for this post via Microsoft Teams chat. “My dining room is my new office. It’s routine, same old stuff.” “I miss my coworkers and the close collaboration in the office,” says Evan Hearn, energy management analyst in Atlanta. Taylor Leandro, HR generalist in Santa Barbara echoes the sentiment. “I mostly miss the daily interactions with my teammates and fellow colleagues. I also miss the ability to walk over to someone...

Marketing, motorcycles and robotics all find a home within Melissa Zavas. The California native has creatively blended her interests in a way that empowers teens and builds community. The road to Yardi Zavas is a marketing specialist with RentCafe REACH. She and her team provide search engine optimization (SEO), pay-per-click (PPC) advertising, social media marketing and reputation management services to Yardi clients. Learn how SEO and PPC can increase leads by 160%. The most challenging aspect of her job is staying on top of digital marketing trends and Yardi’s quickly developing software. “Yardi is incredibly growth-oriented. We are consistently growing our current software and expanding into new areas,” says Zavas. “But it’s worth it,” she smiles. “I find developing relationships with my clients and across teams very rewarding. I’m also accustomed to the changing demands of digital marketing.” Zavas began her marketing career shortly after college. Her family is heavily involved in the automotive industry, and her father helped found the Baja 500, a Mexican off-road motorcycle race on the Baja California Peninsula. She soon began a mail-order motorcycle parts division as an extension of her family’s wholesale company. “Quickly, I developed a loyal customer base by giving technical advice to match people’s riding styles with the performance parts we sold,” says Zavas. “Mail order was quickly turned into an eCommerce business as internet shopping took off. I created our first website and developed the eCommerce portion. It grew over 12 years. Through those years, I gained experienced in both business and in digital marketing.” Her technological insights and marketing savvy paid off. Zavas was named a Who’s Who Female Owner in the Automotive Industry by Cambridge Who’s Who in 2007-2008. Though Zavas sold her motorcycle parts business, she is still an avid motorcyclist....

Arcadia Management Group has expanded its use of the Yardi product line with Yardi Investment Manager. Arcadia will continue to grow its service offerings to be a one-stop shop for investment and property management operations. Investment Manager will take the investment side of Arcadia’s business model to the next level for third-party clients as well as investors and strategic partners. The accessible online portal provides a secure way for investors to retrieve investment and portfolio metrics and related documents anywhere, from any device. Arcadia will be able to automate the subscription agreement process and easily view and track all key fundraising milestones. “Investment Manager provides internal stakeholders with an intuitive, easy to understand view into our most complex deals and joint ventures. The user-friendly online portal gives our investors and external partners timely access to data they need, which allows us to further expand our fund management offerings,” said Gary Shaw, president of Arcadia. With Investment Manager, Arcadia continues to increase efficiency by leveraging industry-leading technology. It will provide a platform for internal collaboration and investor transparency. This will allow Shaw and his team to expand and improve client relationships and service. “We are very excited that Arcadia has chosen Yardi to expand their investment management services, and we look forward to further empowering Arcadia’s growth and success,” said Robert Teel, senior vice president of global solutions for Yardi. Download a brochure to learn more about Yardi Investment Manager. About Arcadia Established in 1986, Arcadia Management Group is based in Phoenix, Arizona and manages over 40 million square feet of commercial real estate across the United States.  Arcadia’s business model is unique in that the company’s core business is third-party property management services. This management-centric approach, without internal brokerage or leasing, makes Arcadia attractive...

The latest addition to the Yardi Senior Living Suite helps senior living staff and residents’ families stay connected as senior living communities maintain largely isolated from outside contact during the COVID-19 pandemic. Community managers can use RENTCafé Wellness to schedule healthy activities, track attendance and create custom-branded online wellness calendars. Activity organizers can create calendars on a community’s marketing website, manage RSVPs from residents and their families, and assign staff to the activities. “RentCafe Wellness combines with the rest of the Yardi Senior Living Suite to help communities elevate residents’ quality of life and maintain connection with family members in these challenging times,” said Ray Elliott, vice president of senior living for Yardi. “The solution also helps community staff work more efficiently by enabling management of calendar content, design, publication, registration and attendance from a single connected solution.” RentCafe Wellness is an element of RentCafe Senior Living, a secure portal that residents, staff and families use for payments, communication, service requests and other operations. Learn more about how RENTCafé Wellness and other RENTCafé Senior Living solutions can help residents of senior living communities stay connected and...

The number of Americans who have moved since February 2020 wasn’t unusual compared to typical U.S. mobility trends, but there has been a distinct shift in where they are relocating, according to the latest Yardi Matrix multifamily webinar. In brief, big urban cities like New York, Chicago, San Francisco and Miami are out, while second tier markets and tech hubs like Austin, Kansas City, Sacramento and Boise are in. “What we really have seen is a movement of people that is different from what we have seen in the past,” said Jeff Adler, vice president of Yardi Matrix, who delivered the analysis. A webinar on the commercial real estate market with valuable insight for that sector will take place on Wednesday, Nov. 11. You can register here. The Nov. 4 multifamily session, which is now available to view on demand, summarized the trendlines for the apartment market nationwide. It has been relatively resilient despite the economic fallout caused by the COVID-19 pandemic. For example, in the month of October, 94.6 percent of apartment households had paid rent as of Oct. 17, according to NMHC’s Rent Payment Tracker. However, small owners and managers of less than 50 units are suffering. These owners typically hold small balance loans, or SBLs. “Because SBLs are typically used to finance apartments with less than 100 units, each resident that has trouble paying rent has a more significant impact on the property’s cash flow,” stated the Matrix summary. The bulk of the 16 million Americans who have moved since February, though, are working from home and seeking a relocation situation that will be advantageous during the remaining months of the pandemic. They’re seeking out apartments or single-family homes where they have more space and eschewing the walkable urban lifestyle that...

At its core, the travel industry encourages new experiences and exploration. It invites guests to find comfort in unknown terrain and discover a sense of belonging amongst new people. Unfortunately, the travel industry has not historically operated in the same welcoming inclusivity that it promotes. “This world is a diverse one—so how could the very industry that promotes the exploration of that world not be?” inquires Tiana Attride, editor at Here Magazine. As the sole black editor, often the only black staff member and commonly the only person of color at press events, Attride is frustrated by the lack of inclusion practices within travel businesses and marketing. Sheila Johnson, co-founder of RLJ Companies, a Yardi client, founder and CEO of Salamander Hotels & Resorts, has experienced a similar discord between travel industry messaging and practices. In her 40 years as an entrepreneur and 15 years focusing on hospitality, she has seen small improvements in inclusion and equity practices. “But there’s also the rub,” Johnson reflects. “I recognize we still can and should do more.” Both women, like other minorities interviewed from the industry, see a clear path forward. A foundation for success The first step to create a more inclusive hospitality industry begins with acknowledgement. “An unfortunate number of people in this country – black and white – are far from coming to grips with institutional racism, the kind of racism that is also baked into the very fabric of so many American institutions,” says Johnson. “For this reason, many people still cannot even talk about racism, much less actually do something about it.” But hospitality providers are strongly positioned to tackle the issue head on. “Our industry is a living laboratory of cultures. Every day we make it possible for team members from...

Apple’s newest iPad Air features a 10.9-inch liquid retina display and five finishes including silver, space gray, rose gold, green and sky blue. The device includes 3.8 million pixels, full lamination, P3 wide color support with a resolution of 2360×1640 at 246 pixels per inch, True Tone and an anti-reflective coating. Given the fact that many users now have a mask on their face much of the time, making Face ID complicated, the new iPad Air includes the throwback Touch ID sensor. The sensor is integrated into the top button and allows you to unlock iPad Air, log in to apps or use Apple Pay. iPad Air shares the same magic keyboard as the iPad Pro, as the difference between them is very small—11 inches for the iPad Pro. Apple’s most advanced chip iPad Air includes Apple’s most advanced chip, A14 Bionic packed with 11.8 billion transistors for a better performance and power efficiency. The A15 Bionic handles even the most demanding apps such as editing 4K videos, play immersive games, create works of art and so on. Using five-nanometer process technology, the latest A-series chip includes a six-core design for 40 percent boost in CPU performance and a new four-core graphics architecture for a 30 percent improvement in graphics. Environmentally Friendly Part of Apple’s plan to become carbon neutral by 2030, the new iPad Air uses a 100 percent recycled aluminum enclosure and 100 percent recycled tin for the solder on its main logic board. Additionally, the new speakers in the device use magnets with 100 percent recycled rare earth elements so the device remains free of harmful substances, is highly energy efficient and uses wood fiber packaging that is recycled. New bits and pieces The Air moves to USB-C like the iPad...

With office listing rates falling, vacancies increasing and new development slowing, the impact of the COVID-19 pandemic on the U.S. office market is showing clearly after several months’ delay. The latest data, collected in the National Office Report from CommercialEdge powered by Yardi, shows that the national average full-service equivalent listing rate fell 25 cents in September from the previous month, to $38.07. This was a 0.5% decrease from the same period last year. The national vacancy rate increased 30 basis points month-over-month to 13.6%. “Listing rates have remained relatively sticky during the pandemic, with rates not decreasing concurrent with falling demand,” states the report. “The long-term nature of office leases coupled with a lack of potential tenants gives owners no incentive to dramatically lower rates at the current time.” Meanwhile, the amount of new office stock under construction has fallen steadily throughout the year. Only 24 of the top 75 markets analyzed have more square feet under construction than at the start of 2020. “As it becomes increasingly clear that things will not return to normal until a vaccine is made widely available, developers have not been replacing completed properties with new construction,” states the report. Gain all the insight in the October National Office Report from the research experts at CommercialEdge. CommercialEdge provides extensive property data that includes transaction, ownership and debt information, offering nationwide coverage across all commercial real estate asset types. Use the platform to uncover vital market data and get insights with the latest lease and sale listings. Want more key takeaways? Join the Office National Outlook webinar set for Wednesday, Nov. 11. Yardi Matrix vice president Jeff Adler and team will lead an informative presentation of the current trends and what to expect...

The Yardi Atlanta office recently completed a successful Halloween Week! Going virtual was no easy feat, but the events committee tapped into the office’s love of competition to make a fun and memorable event. Hype years in the making Over the years, the social committees at Yardi Atlanta have helped to develop its office culture. The office is known as a place that fuels its hard work with camaraderie and fun. Annual Halloween celebrations brought team members together in pursuit of glory —until this year. With most of Yardi Atlanta working remotely, the office would not come together to celebrate Halloween. What would normally be a week of in-office costume parties and cubical decorations faced a great challenge in 2020. How could Yardi Atlanta take the festivities into a remote work environment? Would it still be fun and engaging? Undaunted by the task, the social committee launched a series of virtual events that encouraged creativity and competition. Each weekday featured a new challenge or activity to engage team members in the holiday spirit. Monday kicked off with a Pumpkin Selfie contest. Employees showed off their carving skills along with their smiles. The Best Pumpkin Selfie award went to Camilo Perez! After clocking out for the evening, a virtual call taught team members how to be Absinthe mixologists. Tuesday’s Throwback Halloween Costume Pictures conjured fringe haircuts, teased bangs and other horrors better left in their graves. There were real gems and great conversation starters among the submissions. Wendy Caffery received the Best Throwback Costume award. Working from home offers even more creative freedom to decorate! Wednesday’s competition received submissions of Halloween Home Décor, from fun and festive to ghoulish and frightening. Amber Brown earned the Best Decorations award. The workday then ended with Ghost Stories...