Spotlighting Brandon Ribar

“I love change, but I don’t like change for change’s sake. I like thinking about the why around what it is that we’re trying to achieve.” That quote comes from Brandon Ribar — CEO of Sonida Senior Living, one of our amazing clients — in an interview with Senior Housing News (SHN). Ribar is an honoree in this year’s Changemakers series, which spotlights innovative, dynamic leadership in the industry. We’re proud to join SHN in presenting the 2024 class of visionaries, sharing the insights gathered during their in-depth interviews. In leading one of the nation’s largest senior living organizations, Ribar has extensive knowledge to share — including his growth strategies, focus on employee feedback and more. Get a snapshot of his interview below.   Meet Changemaker Brandon Ribar SHN: In what ways do you think that you’re a changemaker? Ribar: I put culture first and believe that Sonida is going to be successful only based on whether or not we have the best people working with us at Sonida. I continuously push not only the industry, but our company to bring people into the industry and to elevate people from within who really want to push hard to deliver that change. Where I’ve really pushed hard for change is in the types of people that we surround ourselves with, but also how hard we push to be something that’s special and differentiated in senior living. That’s what I love to bring to the discussions that we have and to not accept that what we do today is anywhere near good enough. We have to be better and better every day. SHN: Can you talk about a time when you try to execute a change and things didn’t go according to plan? How did you pivot and what did you learn as a leader? Ribar: I’ll go back to making decisions that I fundamentally believe were good ones but skipping the step of ensuring that the people that were really responsible for the day-to-day execution were involved in that development. I pivoted by immediately ensuring that it had nothing to do with me being the generator of the idea. It was really their idea. I was simply a conduit that brought to them options to think about. When people really feel like it’s their idea and their model that’s changing, then they will go full speed ahead. They’ll be excited about it. SHN: Choose one artist, scientist, thinker, entrepreneur, or other person living or dead to help change the senior living industry for the better. In only a few words, who are you choosing and why? Ribar: Steve Jobs is somebody who saw beyond what people thought that they needed, and he created products and services that people gravitated to because they were something they hadn’t thought about. That level of innovator who just has an ability to understand the customer and to develop things beyond what the customer thinks they need, that is senior living. Another person is Taylor Swift. If Taylor Swift did her concerts and her songs from senior living communities and told people about how cool of an experience it was with residents and sang all day about senior living, we’d get pretty good exposure and build our reputation that way. Jobs innovates, and then Swift’s going to sell it for us. Learn more from Changemaker Brandon Ribar Don’t forget there are more insights from Brandon Ribar — read his interview with SHN. If you’d like to explore the Changemaker interviews we’ve highlighted recently, visit our blog home page and social...

Making Work Fun

Engaging employees and boosting their performance can be challenging, especially with a busy and dispersed workforce. Traditional training methods often fail to keep employees motivated and interested but gamification can increase employee engagement by over 48 percent, according to some reports. That’s why property management companies are turning to the gamification tools in Yardi Aspire to enhance engagement, focus and motivation. Gamification, which uses game-like elements such as points, badges and leaderboards, makes work and learning more interesting and rewarding, offering immediate feedback and reinforcement. This modern approach not only increases participation but also fosters a culture of continuous improvement and enthusiasm in the workplace. The Benefits of Gamification A recent roundtable hosted by Yardi Aspire, led by Per Hoel, a senior instructional content designer, and RJ Bisquera, a technical account manager, highlighted the benefits and best practices of gamification. “Gamification provides diverse benefits, from achieving company-wide objectives and enhancing individual performance on specific tasks to increasing engagement in training courses,” shares RG Bisquera. Company-Wide Benefits Gamification can significantly boost job performance across an organization. It makes work purposeful and fun, motivating employees to strive for success. By introducing game-like elements and personalized feedback, companies can foster healthy competition to encourage teams and individuals to set higher goals and achieve more. Gamification aligns employees with meaningful goals, KPI targets and desired professional behaviors, providing timely recognition for their achievements. Learning Management System (LMS) Environment In LMS, gamification applies game design principles, like achievement badges and point rewards, to promote development of desired skills and make learning more engaging. These elements spark interest, making assignments like compliance training and policy updates more exciting and memorable. Gamified learning environments foster a sense of achievement and autonomy, motivating employees to exceed their learning goals. Aspire LMS offers...

RightSource Metrics

Affordable housing may very well be the most complex component of the multifamily rental housing industry. Its regulations under federal, state and local programs are challenges that require expensive training and years of professional experience to master. Web developers using a computer together in a creative office. Two business people working on a new software developing project in an office. Given the complexity of doing business in affordable housing, it’s no wonder many organizations choose to contract with third-party compliance vendors such as Yardi RightSource. Chris Voss, Yardi vice president of affordable housing, founded RightSource in 2006. His company found its way to the Yardi family in 2020, creating a unique opportunity for Yardi clients to easily add compliance expertise to their team without having to recruit, hire or train new employees. “I’m proud of the team we’ve built and the services we provide. The numbers show RightSource is not only a successful product for Yardi, but is creating tremendous value for our clients. It’s truly a win-win as our client list grows and we deliver on our promise of reducing the cost and complexity of compliance for affordable housing providers,” says Voss. Let’s take a look at some key metrics to learn more about how RightSource creates value for its clients. Note: You’ll see the term “file” come up a lot in these stats. A file, in this case, means all of the documentation that a household must provide to an affordable housing provider to qualify for a unit. Files are the backbone of compliance as they are audited and reported on throughout the residential lifecycle in affordable housing. 24 hours In general, RightSource advises clients that a file submitted for review will be returned within 24 hours. That’s a stark difference from relying on in-office team members who may or may not be up to date with current regulations, or who may lack industry knowledge to make a truly informed decision of completeness within such a short period of time. AAMCI, a Yardi RightSource client since 2020, attests to the timeliness of file reviews. “RightSource delivers fast file reviews within 24-hours or less. That commitment and reliability helps us fill units faster with the confidence of knowing the data used to approve the file matches our records in Yardi Voyager,” said Deedra Burroughs, AAMCI chief financial officer. 220,000 files, annually Affordable housing providers submit approximately 220,000 files for review every year. That’s as of July 2024, and the number continues to grow. 10 minutes On average, RightSource auditors can actually complete a file review in just 10 minutes! Leveraging proprietary technology that sorts files, automates financial calculations and digitizes file data, the RightSource team and its decades of combined experience completes reviews with impressive speed. 1,900 files, monthly RightSource’s most active client submitted nearly 2,000 files in a single month last year. Imagine how many staff resources that would have required if completed by an in-house team of housing specialists instead of contracting with RightSource. Complete files in less than 1 week On average, it takes three RightSource reviews, each returned to the client usually within 24 hours, before an affordable housing file is determined to be complete and compliant with all applicable federal and state program mandates. If an applicant household can resolve file deficiencies quickly, they’re likely to be certified to live in a unit in less than a week. That’s a fraction of the time many affordable housing providers spend qualifying households without RightSource. Nearly 500,000 units RightSource clients own and operate nearly half a million affordable housing units. More than half of those fall under the Low Income Housing Tax Credit program which is overseen and run by housing finance agencies in all 50 states. RightSource keeps forms current for its clients for LIHTC programs and continuously updates them as each state makes programmatic changes. HUD 50059 units total more than 130,000, and...

Significant but Understated Jul29

Significant but Understated

Most people realize that carbon emissions come from heating, cooling and lighting buildings, houses, roads, bridges and other elements of the built environment. But there’s another significant source of carbon whose environmental implications might be less visible but no less urgent: embodied carbon, which comes from the extraction, manufacturing, transportation, installation and disposal of materials such as steel, concrete, insulation and drywall. Buildings account for about 39% of global energy-related carbon emissions, with about 28% coming from operational emissions and 11% from materials and construction. For new buildings, embodied carbon emissions typically equal about 20 years of operating emissions. With the world’s building stock expected to double by 2060 – the equivalent of adding an entire New York City to the planet every month – the World Green Building Council calls managing embodied carbon a “significant yet often understated role on the path to net zero,” with “the built environment sector [having] a vital role to play in responding to the climate emergency, and addressing upfront carbon is a critical and urgent focus.” “Reducing embodied carbon from construction materials is essential to effectively addressing climate change,” adds the U.S. Environmental Protection Agency. Evaluating the level of embodied carbon involves completing a whole building life cycle assessment. This process examines the quantities of materials and products used and where they came from, from sourcing through construction and use to end of life disposal. With this assessment in hand, developers can make carbon-smart choices during design, procurement and construction. The movement to control embodied carbon is growing. For example, the EPA and other federal agencies have formed a Buy Clean Task Force that encompasses 90% of federally financed and purchased construction materials. State and local governments along with private sector institutions have adopted similar initiatives. The Inflation Reduction Act of 2022 also provides grants, tax incentives and loans to procure low-carbon materials for construction and renovation projects. “Finding creative ways to reuse existing buildings is an increasingly important strategy for reducing embodied emissions. The urgent need to reduce greenhouse gas emissions in the short term means that the calculus for saving rather than demolishing an existing building has changed and is now weighed much more heavily against demolition,” according to AIA California, an 11,000-member advocacy group for architects. Benefits of attention to embodied carbon include presenting more marketable buildings for buyers, lessees and investors to whom a building’s climate impact is important.  Steps that can reduce embodied carbon include: Focusing on high volume materials, since between 50% and 75% of embodied emissions typically come from the concrete and steel in the foundation and structure. Renovating and upgrading buildings where possible, especially the foundations and structure where most of the embodied carbon lies. Seeking out recycled content materials; the embodied carbon footprint of new steel and aluminum can be five to six times that of high recycled content. Salvaged materials such as brick and wood typically have a much lower embodied carbon footprint than newly manufactured materials. Global business consultant firm McKinsey & Company says, “Open data and collaboration across silos are going to be key, and the technology the industry uses to measure and reduce the environmental footprints of buildings is starting to reflect that. With new models of collaborative solution development powered by connected data, it may become possible to cut GHG emissions dramatically in less than a generation.” Yardi is a real estate technology leader and ENERGY STAR® Partner of the Year Sustained Excellence winner awarded by the EPA and the U.S. Department of Energy. See our comprehensive solutions for managing costs, consumption and reporting across a...

Gold Medal Cities Jul26

Gold Medal Cities

The 2024 Summer Olympics are here! The Olympics can profoundly influence host cities, bringing both benefits and challenges. Let’s explore this impact. The economic impact of hosting the Olympics is a double-edged sword. While it boosts tourism, job creation, and increased business for local vendors and hospitality sectors, it can also lead to economic displacement for local businesses and residents. Host cities can have the potential for an increased global profile, leading to sustained tourism and investment. The 1992 Olympics was a historic event that transformed Barcelona. Passeig Marítim, Barcelona’s seafront promenade, is one of the city’s most noteworthy adaptations from the Olympics, creating two miles of beachfront using sand imported from Egypt. Today, it still attracts locals and tourists and connects them with shores lined with bars, restaurants and shops. Another example is Atlanta, GA, from the 1996 Summer Olympics that added major hotels, condos and one of the most prominent legacies, the Centennial Olympic Park, in the city’s heart. But the park is only part of the Olympics’s $5 billion economic impact on Atlanta. The games also planted the seeds for an epic tourist attraction—The Georgia Aquarium, the largest aquarium in the western part of the world! The Olympics does pose the risk of debt and financial strain due to the high costs of hosting the games. Operational costs for security, logistics, event management and staffing can be quite a strain, as well as marketing and promotions for advertising, branding and tourism campaigns. Debt and budget overruns can occur for host cities. Yet, they can balance overruns with adequate planning and management to minimize costs and leverage public-private partnerships to share financial risks and benefits. For example, the Olympic Games in London 2012 saw significant economic growth, especially for East London, due...

Realtor Reality Jul25

Realtor Reality

When reading about real estate in publications or online platforms, have you ever wondered why the word “realtor” is often in capitalized letters or marked with a registered trademark symbol? Or what the difference is between “REALTOR” and “real estate agent?” Second question first. While the terms are often used interchangeably, there are significant differences. The rule of thumb holds that all REALTORS are real estate agents but not every real estate agent is a REALTOR. Through coursework and exams, real estate agents have earned a license to help people buy, sell or rent property. Their job includes evaluating property values, advertising properties, negotiating deals, and guiding clients through mortgages, legal agreements and other elements of a real estate sale or purchase. A REALTOR, on the other hand, is a real estate agent who has undertaken additional training and commitments. The first step toward becoming a REALTOR is joining the National Association of REALTORS® (NAR), which, with more than 1.5 million members, is the U.S.’s largest trade association. Prospective REALTORS must join an NAR-affiliated local real estate board or association as well. They also agree to abide by NAR’s Code of Ethics, whose strict standards of business conduct are reinforced through regular ethics training throughout a REALTOR’S career. (Brokers are another example of real estate professionals who have completed additional education and licensing requirements. Working independently or with other brokers, they can hire real estate agents; manage marketing, hiring, training and other business operations; and help execute complex transactions, among other things. Here again, a REALTOR can be a broker, but a broker isn’t necessarily a REALTOR.) Benefits of NAR membership and REALTOR status include additional opportunities for networking, training, mentorship, potential clients and political advocacy. Now back to the use of the word...

Preleasing Progress Jul24

Preleasing Progress

Surveyed preleasing at colleges and universities tracked by Yardi® reached 85.2 percent in June, on par with last year’s pace and outpacing historic trends. The average advertised asking rent per bed stood at $898 last month, while year-over-year rent growth slowed to five percent, according to the latest Yardi Matrix National Student Housing Report. Averaging 6.1 percent asking rent growth for the season since October 2023, the Fall 2024 school year is shaping up to be one of the best for the student housing sector. During the summer months, the pace of preleasing has slowed. Additionally, issues with FAFSA filing and processing pose a concern for near-term enrollment growth. Nevertheless, 39 universities were at least 94 percent preleased already, including 13 schools that reached at least 99.7 percent preleased. A total of 41 universities posted double-digit rent growth in June. Large primary state schools like Tennessee and Purdue had the strongest rent growth. Smaller institutions such as Vermont (16.7 percent rent growth), San Jose State (15.8 percent), Oregon State (15.8 percent) and New Hampshire (15.6 percent), also stand out. “Rent growth is most significantly impacted by preleasing and enrollment trends. The top four schools for rent growth were on average 93.4 percent preleased and experienced 4.7 percent enrollment growth in 2023, versus the bottom four which average 67.4 percent preleased. Gain more insight in the new Yardi Matrix National Student Housing 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, affordable housing student housing, vacant land, industrial, office, retail and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn...

Carpinteria Children’s Project Jul24

Carpinteria Children’s Project

Children thrive when supported by a strong family and community throughout their lives. Carpinteria Children’s Project (CCP), a Yardi-supported nonprofit, has been a beacon of hope in our community since its establishment in 2009. With a focus on diverse programs and services, CCP has actively supported successful children throughout Carpinteria, Calif. The organization’s local knowledge and expertise have been crucial in addressing the Carpinteria families’ unique challenges, ensuring its support remains relevant and effective. The Family Resource Center (FRC) serves as the heart of its network, providing families with essential support and managing referrals to and from partners. The FRC offers diverse programs and services by harnessing the power of family as a child’s first teacher and advocate, including parent education classes, child development activities, and support groups with a warm and caring approach. CCP is a dedicated team, along with its partner agencies, that collaborates to address families’ holistic needs. From coordinating with other social services agencies to its Promotoras de Salud program, it provides comprehensive support for family well-being. Its Early Childhood Education program offers care for children ages 18 months to five years old, ensuring a well-rounded support system for families. “From outdoor classrooms to dual language immersion programs, we provide a nurturing environment and strong foundation for children to succeed in the rest of their educational journey,” said Ari Rodriguez, director of development for Carpinteria Children’s Project. CCP strategies for future success include clearly defined organizational purpose, programs, impact, and delivery for programs that suit the community’s needs. Additionally, CCP will maintain financial stability and sustainability and support CCP’s board, leadership and staff teams. Funding from Yardi has allowed CCP to invest in programs and immediate support that mitigates toxic stress from Adverse Childhood Experiences (ACEs), reduce domestic abuse, and increase the likelihood that children thrive academically, physically and socially. “We are grateful for Yardi’s support these last four years. $10,000 gifts have allowed us to continue our services during the pandemic and continually enhance/improve the services we provide in response to the community’s growing needs,” expressed Rodriguez. Ashley’s Story Ashley is a young mother with a toddler and a baby. The Carpinteria Health Clinic referred the family to the Carpinteria Children’s Project. During a routine postpartum screening, Ashley reported she had experienced abuse, both as a child and later from a previous partner. A Family Resource Center coach met with Ashley immediately after her doctor visits, establishing a warm connection and offering the opportunity to participate in a few structured visits together to address strategies for mitigating toxic stress. The following week, Ashley visited the Family Resource Center to meet with a family advocate coach to assess her short- and long-term needs and make an action plan. The coach also connected her with referrals for a few items that needed support. Ashley has joined the Parents as Teachers program, which means she will also receive a series of home visits focused on helping her understand and practice her role in child development and literacy until her youngest is four years old. This same coach will continue to follow up with Ashley to ensure she’s meeting the goals she set for herself as part of her long-term plan, which includes pursuing additional education. She’s already completed an application to qualify for a childcare scholarship for her older daughter. Volunteer Opportunities Carpinteria Children’s Project offers several volunteer opportunities in its monthly food bank, at various fundraising events and in the classroom. They also plan special projects for groups or teams. If interested, reach out to Ari Rodriguez at [email protected]. “Even though Carpinteria can seem close, accessing Santa Barbara-based services can be very difficult for our families without cars. Having CCP as an immediate source of support and a connector to additional resources makes a huge difference to families,” explained Rodriquez. Find future non-profit profiles at https://www.yardi.com/blog/category/giving. Yardi is Energized for Good! Visit www.yardi.org for more about our...

Celebrating Franklin Farrow

It’s time to introduce the next batch of 2024 Changemakers — senior living visionaries who are shaping the industry as we know it. Senior Housing News (SHN) has conducted thorough interviews with each of this year’s honorees, including the honoree we’re spotlighting today: Franklin Farrow. As the CEO and co-founder of Morning Pointe Senior Living, a Yardi senior living client that’s been in the industry since 1996, Farrow knows all about driving impactful change. In his conversation with SHN, Farrow shares how the company’s start still impacts how it operates today — as well as how he envisions Morning Pointe evolving in the future. Hear from Changemaker Franklin Farrow SHN: How have you changed as a leader since starting in this industry? Farrow: Our company was co-founded by myself and Greg Vital, who’s the president, 27 years ago in 1996. We each brought attributes and experiences, time, and talent to the table. He’s 15 years older, and so he had a different network of people than I did at the time. We blended our talents and experiences to launch the company. At that time, I was more capable of tasks and completion of thoughts and ideas. He was the more entrepreneurial leader having been in the business world in advance of me. To answer the question, I’ve transitioned from being more of executing the completion of the ideas that were generated to more of generating ideas and having others follow through on them. It’s been a metamorphosis of me, and I think this is true for any young professional who grows through any industry, that they are advanced because of their capacity to complete projects and they start leading others to help them complete projects, and then, ultimately, they start thinking and leading concepts and philosophies for others to complete and finalize and implement. I’m playing more of a top senior manager, owner role, setting larger vision, setting larger goals, and then, because I was involved in tasks and details, I’m able to articulate to them what I think the scope and capacity of the project is and make sure they have the resources, but don’t have to physically roll up my sleeves as much, although I enjoy that part. Also I have to caution myself that my time is more valuable being visionary and thought leading than task completion. SHN: If you could turn the lens back at yourself, what sort of changemaker do you think you are? What area do you think you’re a changemaker in? Farrow: I would say if you were to interview my senior management team who hears me pontificate and try to set direction, I think they would tell you that I do try to think through the mind, eyes, and feelings of those who are sitting in various seats, the seat of a regional operator, the seat of a senior manager, or the seat of a business office manager, or even a resident care aide. I’m constantly trying to shape and form the way we conduct our business, and I often use the word psychology. I’m not a psychologist. However, I’m constantly thinking, “What motivates a regional vice president or what motivates a nurse on the floor? What environment are they looking to operate in? How do they want to be treated?” I’m also trying to weave in principles of standards of conduct, ethics, and standards of the golden rule of doing to others. Not only are we trying to operate from the viewpoint of those in the seat or hot seat of those various capacities and roles, I’m also trying to say, “Let’s just do things because we want to be decent, honest, and upright standing people too, not just the pure business robotics of things.” I host a standing Tuesday morning session, where anyone in the company who can get away for 15 minutes can come and listen to an...

Fighting Hydrocephalus Jul22

Fighting Hydrocephalus

Hydrocephalus is a neurological brain condition that, currently, over one million people in the United States live with, and one out of 770 babies develops each year. Hydrocephalus Association (HA), a Yardi-supported nonprofit, brings the community together virtually and in person through WALK and community networks. Established in 1983 in Bethesda, MD, it supports those in need, including patients, caregivers, and physicians. With an extensive list of neurosurgeons in its directory, it offers a vast library of resources that span from basic information about hydrocephalus to guides for teachers. In addition, HA provides a mobile app, HydroAssistTM, to patients and a patient-powered registry to collect essential data for researchers studying hydrocephalus. Currently, the Hydrocephalus Association is in the middle of a three-year strategic plan: Find and Engage the Hydrocephalus Community Fund and promote high-impact research to advance care, treatments, prevention, and ultimately finding a cure for Hydrocephalus Support and advocate for those impacted by hydrocephalus at every age and stage in life Improve the care and management of hydrocephalus patients by the medical community Funding from Yardi helps HA meet all of these goals. From funding the talented staff needed to execute its strategy and run programs to the impactful research that is changing the future of Hydrocephalus. Hydrocephalus Association’s key component to its success is its strong and committed Board of Directors and the devoted and skilled volunteer force that partners with staff to run its programs. Most notably, all its 40+ WALKS nationwide are led by volunteer leaders with minimal staff support. “Intense gratitude” is how Carissa Bentley and Melissa Arato, co-chairs for the Long Island WALK to End Hydrocephalus, reacted to Yardi’s support. They continued, “While every supporter matters to our progress, committed, long-term contributors such as Yardi help us get even farther and inspire other individuals and organizations to give however they can.” Return on Investment Over the last 14 years, HA has invested more than $14 million in hydrocephalus research. Its funded scientists and clinical networks have secured an additional $74 million from the National Institutes of Health (NIH), Department of Defense (DOD), and other foundations for a 500% ROI! Volunteer Opportunities The Hydrocephalus Association always seeks volunteers to help throughout the year or during WALK events. Please get in touch with Carissa at (646) 235-1419. “These volunteer partnerships are core to HA’s success, helping us to stretch every dollar and contributing to furthering our shared mission,” they said. The next WALK for Long Island is: Sunday, Oct 6, 2024 Starts 9:00 am Belmont Lake State Park North Babylon, Exit 38 Southern State Pkwy NY 11704 Advocacy is critical for HA to continue and increase government funding of hydrocephalus research. Learn more and sign up here. Find future non-profit profiles at https://www.yardi.com/blog/category/giving. Yardi is Energized for Good! Visit www.yardi.org for more about our philanthropic...

Moon Mining Jul19

Moon Mining

The moon has been orbited, sampled by uncrewed spacecraft, walked and driven on by humans, and proposed as a waystation for interplanetary travel. With the Earth facing steady population growth and diminishing resources, its only natural satellite has also been targeted as a potential source of valuable materials. Proposals to secure those resources have been gaining steam among governments and private operators alike. “The pace is quickening for using Earth’s moon as a near-term, go-to location to land on, live and explore,” veteran space journalist Leonard David reported last year. Proposals to mine, process and use the moon’s resources certainly are dramatic, but are the feasible? What’s there? Years of examination, including sample return missions by U.S., Russian and Chinese spacecraft, have revealed a trove of potentially valuable elements within lunar soil and rock. One of them is helium-3, an isotope created from the moon’s continuous bombardment by ionized hydrogen and ionized helium from the solar wind. Helium-3 is rare on Earth, but NASA believes there are tons of it on the moon and could represent a source of clean, renewable energy. Proponents of harvesting lunar helium-3, including Apollo 17 moonwalker Harrison Schmitt, envision fusing it with deuterium to produce energy without making surrounding materials radioactive. Seattle-based Interlune, whose founders include Schmitt and officials from space technologies provider Blue Origin, is raising funds to develop technology that could prospect and harvest helium-3 and other materials by 2030. NASA and private companies are also eyeing the possibility of extracting and processing oxygen, titanium, iron, aluminum and other elements for use in sustaining a functioning moon base and building a launch pad for missions to Mars. Other materials, such as rare earth elements used in smartphones, computers and other advanced technologies, are also present in moon...

Canadian rental market analysis   Jul18

Canadian rental market analysis  

The Canadian multifamily rental market is undergoing a revolution. To make informed decisions, staying updated on the latest trends and preferences is crucial. Unfortunately, most of our current industry data is outdated and limited, which can hinder effective planning and management for housing providers. This is why new, comprehensive data like the 2023/2024 Canadian Multi-Residential Marketing & Leasing Snap Shot Report, conducted by simplydbs, is an invaluable resource. This report encompasses data from two surveys, featuring responses from 20,000 tenants and housing providers representing 400,000 units across Canada. This report reveals significant disconnects between what renters want and what housing providers are offering. Bridging the online gap between renters and providers One of the most notable findings from the report is the gap between how renters and housing providers view online property listings. While the industry ranks internet listing services (ILS) as the top choice for marketing, prospective tenants overwhelmingly prefer property-specific websites (PSW). According to the report, 92 percent of tenants said that a PSW is essential or nice to have, making it their number one preferred online touchpoint. Up to 76 percent of tenants of tenants stated that ILS sites are still important for them during their rental process. Another critical area is response times. The report found that 87 percent of renters are comfortable with a response time of up to 24 hours for prospect inquiries. This timely communication influences their decision to select a unit or property and their desire to stay there. To effectively address this disparity, employing a 24/7 omni-channel chatbot on a website can significantly free up onsite staff, allowing them to focus on higher value tasks such as assisting with in-person tours and applications. Growing fraud concerns Fraudulent rental applications are a growing concern across Canada. Applicants providing false information, like fake references or altered income documents, contribute to this issue. The report reveals the most alarming consequence: bad debt from unpaid rent due to fraudulent applications. The rate itself is rising, with 41 percent of housing providers reporting a one to ten percent increase and 14 percent indicating an 11-30 percent lift. This emphasizes the need for robust identity verification processes to mitigate fraud risks before applications are even considered. Embracing digital solutions The digital transformation of the rental industry is well underway, with residents increasingly expecting digital applications and services. The report shows that 88 percent of tenants use their building app to create and track maintenance requests, and 72 percent want an app to receive package delivery notifications. Once these apps are available, residents actively use them, underscoring the value of integrating digital solutions into rental communities. Adopting mobile technology also benefits your staff, expedites rental turns, and elevates rental revenue. Understanding the disparity between renters and providers In an industry that relies heavily on accurate and timely information, having access to up-to-date data is critical for mitigating risk and ensuring long-term success. This is where simplydbs comes in. simplydbs specializes in collecting and analyzing real estate data to provide actionable insights that drive better decision-making for housing providers. Their expertise ensures that real estate professionals have access to the latest trends and preferences, enabling them to adapt to current market demands and enhance resident and employee satisfaction. Narrowing the gap The 2023/2024 Canadian Multi-Residential Marketing & Leasing Report exposes the disconnects between renter expectations and experiences. By addressing these gaps, housing providers can stand out from the competition and attract, convert and retain quality tenants, ultimately enhancing resident satisfaction and improving overall operational efficiency. For a deeper dive into these findings, download the snapshot report. When searching for solutions, consider a tech partner with a long-standing presence in the market. Solutions that streamline creating property-specific websites, enhance online communication, prevent fraud, offer tenant apps and manage reputations can be incredibly beneficial. These tools help landlords provide better services, improve tenant retention and ensure smooth operations. Let’s bridge...

Trails and Open Space Coalition Jul17

Trails and Open Space Coalition...

Nature improves physical and mental health. This Yardi-supported nonprofit organization is working to make outside time fun, safe and accessible. Trails and Open Space Coalition (TOSC), established in 1987 in Colorado Springs, is a community-driven initiative to enhance trails, parks, and open spaces. In a significant win for the community, last April, city votes approved a 20-year extension of its TOPS (trails, open spaces, and parks) program. This victory will enable TOSC to conserve more acres of open space, expand the trail network, and enhance parks for the next two decades. TOSC spearheaded the grassroots movement to secure this extension, using yard signs, social media campaigns, and story maps to share the story of TOPS and the coalition building. “We are grateful to our community and proud of what we accomplished,” said Susan Davies, executive director for TOSC. Trails and Open Space Coalition is working on its latest initiative, One Bag Challenge, that empowers individuals and groups to help clean up public spaces independently. It provides reusable bags, stickers and a brochure explaining the program and suggested places to check out, plus the fact sheet describes how long it takes for common pieces of litter to decompose. It also includes a colorful activity card for families to make it more fun for kids. “We want people to clean up the places they love. We want it to become part of our community’s culture and increase pride in our amazing public spaces,” said Davies. In addition to the One Bag Challenge, TOSC is working on other projects. The Get Out Get Healthy program connects with underserved neighbors in southeast Colorado Springs and acquaints them with trails and parks where they live. Friends Group project supports friend groups in the community who need help recruiting volunteers...

Turning Point Foundation Jul16

Turning Point Foundation

Mental illness can touch anyone, regardless of their race, culture, income, age, or level of education. It affects one in four adults and one in ten children each year. Turning Point Foundation (TPF), established in 1988 in Ventura, Calif., is on a mission to improve the quality of life for adults experiencing serious mental illness, addiction, lack of housing and inadequate physical health care. TPF provides health navigation services, rehabilitation, wellness and recovery programs, and temporary, transitional and permanent housing in Ventura County. Turning Point Foundation plans to expand its critical community-based and client-centered mental health and rehabilitation services, as well as an array of supported housing (temporary, transitional, and permanent), housing and health navigation, and other support services, to 3,500 individuals annually. TPF is partnering with the Ventura County Criminal Justice System to support mental health treatment, substance use disorder treatment, and diversion programs for people in the criminal justice system with mental health and substance use disorders. TPF aims to improve the life trajectory of adults in the criminal system with housing support and evidence-based practices. “This program strives to reduce recidivism by fostering the principles of restorative justice through leveraging community partnership and collaboration, targeting populations who are underserved and inappropriately served through mental health and substance use service providers, or overrepresented in the criminal justice systems or experiencing or at risk of homelessness,” said Josh Carsman marketing events and fund development for TPF & Rena Sepulveda, contract and grants director for TPF. Ventura County has a significant need for adult resident facilities and care for the elderly “board and cares.” Many of the existing Board and Care facilities have closed in recent years and continue to close as the need grows. Next year, TPF will take over operations of an existing Residential Care Facilities for the Elderly (The Elms), with a new name, Willow Terrace—a 56-bed-assisted living facility for adults 60 and older with severe mental illnesses. “Willow Terrace further exemplifies the dynamic benefits of leveraging public, private, and non-profit partnerships to improve the quality of life for some of the most vulnerable in our community,” they explained. TPF’s programs address the housing and health needs of mentally ill adults, moving from homelessness to housing, while linking them to healthcare, employment, and other resources. Turning Point Foundation will additionally grow the following programs and services: Street Outreach and Engagement: Provides access to immediate and basic needs and builds rapport and trusting relationships to help the homeless develop a housing plan linked to healthcare and other services. Homeless2Home Rapid Re-Housing: offers flexible financial assistance (rent, security deposit, moving costs) and case management services, including health navigation, housing location and stabilization services to house homeless mentally ill persons in Ventura County and continue to provide supportive services as needed after being housed. Last year, 55 homeless adults with mental health challenges received these services, obtaining permanent housing. Between 2023 and 2024, 72 homeless were provided flexible rental subsidies and voluntary supportive services, successfully obtaining permanent housing and ending homelessness. Veterans Transitional Housing Program: is in partnership with the Veterans Administration and, through six months, serves homeless veterans experiencing PTSD and other mental health conditions through assistance with obtaining permanent housing, income, medical attention, substance abuse treatment and mental health services. A first of its kind in Ventura County, since becoming operational in October 2015, over 500 veterans have been assisted through this program, with the majority successfully obtaining permanent housing in the community. Growing Works: is an innovative employment training, horticulture therapy, and wellness program that provides supportive employment through a wholesale native plants nursery serving mentally ill adults. Many program participants are homeless. Watch the video to learn more about Grow Works and TPF’s veteran’s stories after being housed. Yardi funds are a critical component of the private community support needed to fill the gap not covered by the government for the homeless continuum of services to assist mentally ill...

See The Value Of EHRs...

Forty percent of seniors take five-plus prescription medications on a regular basis — triple the rate from twenty years ago. In senior living communities, this level of medication use comes with a heightened risk for medication-related errors.  Fortunately, with effective technology solutions in place, providers can ensure they’re passing medications securely. This helps mitigate the risk of medication errors and in turn, enhances care, limits liability and boosts resident satisfaction. Our informative white paper explores the value of technology further, sharing the benefits of our single-stack, ever-evolving solutions: Yardi EHR and eMAR. Understanding medication errors in senior living The white paper — The Importance of EHRs in Senior Living — details the different types of medication errors with a focus on adverse drug events (ADEs). You’ll see how seniors are the highest-risk age group for ADEs, with supporting statistics like the following: Older adults are twice as likely than younger people to visit the emergency room due to an ADE, and seven times more likely to be hospitalized after an ER visit as a result. What can senior living providers do to help reduce ADEs? Implementing electronic health records and medication management technology is key — and the white paper shares why. You’ll see how EHR technology can help prevent anywhere from 28% to 95% of ADEs. See the power of technology Yardi EHR is our full-service electronic health record solution that combines your clinical intake process, wound care charting, behavior management, interoperability initiatives and more on a browser-based, mobile-friendly platform. By simplifying record keeping and centralizing workflows on a single online platform, you ensure residents receive accurate, effective care. When paired with Yardi eMAR, our dynamic medication management solution, our EHR solution offers even more benefits. Yardi eMAR eliminates inefficiencies and helps minimize...

Pollinator Awareness Jul12

Pollinator Awareness

Understanding how urban areas and technology can significantly support and protect pollinator populations is important. Let’s explore the world of pollinators and their significant economic impacts worldwide. History perspectives. Our history is intertwined with that of pollinators. Ancient cultures, such as those in Egypt, Mesoamerica, Greece, and Rome, revered and utilized pollinators in various ways, reflecting their profound importance throughout history. Bees, for instance, were domesticated for honey and beeswax and held symbolic significance in Egyptian mythology and art. The role of stingless bees in Mayan and Aztec cultures was studied for honey production and religious rituals. Bees were used in ancient Greece and Rome for agriculture, medicine, and mythology, with references in literature and the development of early beekeeping techniques. Economic impacts. The role of pollinators in the economy is often underestimated. Crops such as almonds, apples, avocados and coffee rely on pollination. In fact, according to the National Library of Medicine, 75 percent of crop species benefit from animal pollination for fruit or seed set and yield. Pollinators have a tangible monetary value. For example, in the United States, pollinators contribute billions of dollars to the economy annually. They also indirectly support jobs in agriculture, food production and retail. A declining population could lead to significant economic losses, increased manual pollination costs, and reduced crop yields. This underscores the urgent need for their conservation. Urban areas can be significant allies in the fight to protect pollinators. With thoughtful planning and community engagement, urban habitats like green spaces, community gardens, and rooftop gardens can become vital refuges for pollinators. Many cities are already implementing policies and initiatives to increase pollinator-friendly spaces, such as the Million Pollinator Garden Challenge. This initiative encourages the creation of pollinator-friendly gardens and landscapes to help revive the health...

Down Home Ranch Jul11

Down Home Ranch

Down Home Ranch, located in Elgin, Texas, is a Yardi-supported nonprofit empowering the lives of people with intellectual and developmental disabilities through social, educational, residential and vocational opportunities. Since its establishment in 1989, it has worked to expand programming to allow more people with disabilities and their families to enjoy the Ranch. By increasing its programs, Down Home Ranch will create more jobs for adults who live on the Ranch. Down Home Ranch plans to host more local Special Education Vocational programs and focus on providing outdoor education to schools, community groups, and families. “In 2023, we had over 420 local students with and without disabilities access to the Ranch. Then 274 campers from Central Texas and around the state attend a weeklong overnight sleep-away camp,” said Derek Knapp, development director for Down Home Ranch. Funding from Yardi helps improve access to farm animals. Currently, Down Home Ranch is in the process of a multiple-phased project to make its barn and animal area more accessible for people who have mobility issues, such as those who use a wheelchair. “We are truly grateful for the support that Yardi provides. We can impact the lives of thousands by providing access to a rural community and lifestyle. We sure appreciate y’all,” expressed Barry Hamilton, executive director for Down Home Ranch.  Successful Rancher One of Down Home Ranch’s residents, who was in their 30s at the time, stated that the first time they felt like a “real person” was when they received their first paycheck from working on the Ranch. This was the first time they had seen their name written on something, and it was an empowering moment for them. Andy and Chris Holliday Andy Holliday, senior category manager from the Yardi Austin office, has a brother...

Explore New Functionality

New features in the Yardi Senior Living Suite are here! This release includes improvements to Voyager Senior Housing, RentCafe Senior CRM, EHR and eMAR and as always, everything was powered by client feedback. Keep reading for a snapshot of what’s new! Our senior living clients can also explore new features documentation and webinars, shared below. See evolved functionality in Voyager Senior Housings Voyager Senior Housing is our community management solution that unites financial accounting and complete business oversight in one place. Courtesy of the new release, this single connected solution now offers: 1) Community Manager dashboard updates including features to move-in and manage services for residents plus the option to remove a pending manage service. 2) The ability to move non-residents into excluded units and bill them. 3) A new option to require lease execution at move-in. 4) Expanded abilities for managing leave of absence details after moving out Medicaid residents. 5) Refreshed entrance fee functionality such as amortization when a daily rate changes mid-month and ledger consolidation with drill down to individual transactions. Learn more about the Voyager Senior Housing new features. Explore new features in RentCafe Senior CRM RentCafe Senior CRM — our mobile-friendly sales and marketing solution — is built to help operators strengthen lead management, maximize occupancy and more. With the latest release, our clients benefit from: 1) The ability to capture gender identity and pronouns on the prospect profile which transfers to Voyager Senior Housing and EHR upon resident creation. 2) The option to set specific charge codes for concession in the proposal workflow. 3) Functionality to force a lease to be executed before you can move-in a resident. For a complete list of new features, clients can click Help in CRM and select Updates and New Features. Discover the latest in EHR & eMAR EHR (our full-service electronic health record solution) and eMAR (our dynamic medication management solution) are both designed to help staff deliver the highest quality care. Thanks to the new release, clients will now access: 1) The option to update all active and inactive care plans simultaneously with a new community care plan feature. 2) A new document signature section in the resident profile that gives better visibility into workflows and equips you to generate new documents for digital signature. 3) Usability enhancements to the order resolution queue that allow you to bulk archive, reprocess or delete. 4) The ability to view the complete field modification history of a progress note directly from the resident progress notes screen. 5) The option to link progress notes that different users entered, then view all linked notes at one time. Watch the EHR new features webinar and the EHR new features setup and configuration webinar. For a complete list of new features, clients can click Help in EHR and select Updates and New Features. Connect with team Yardi We’re pleased to provide our clients with exciting new functionality across the Senior Living Suite. New to Yardi senior living solutions and wanting more information? Book a meeting with our...

Children’s Flight of Hope Jul09

Children’s Flight of Hope

For over 30 years, this organization has worked country-wide and partnered with American Airlines so sick children can get the services and help they need. The Children’s Flight of Hope was established in 1991 in Raleigh, North Carolina. Since its inception, it has been unwavering in its dedication to reducing the health disparities for children grappling with rare and intricate medical conditions. This commitment continues to inspire all who encounter it. “We believe distance and cost of travel should never be barriers to life-changing and life-saving care. We, therefore, provide commercial air travel for very ill children and a parent or guardian to centers of healthcare excellence in the United States,” explained Pat Nelli, CEO and president of Children’s Flight of Hope. From its headquarters and only office in Raleigh, Children’s Flight of Hope serves children from across the country and 30 other countries. Families in medical crises face many emotional and financial burdens, and their paths can be long and challenging on many levels. Once medical and financial needs are verified, Children’s Flight of Hope eases these burdens by providing flights to specialists as often as a family may need. Children’s Flight of Hope has provided more than 100 flights for children. In 2023, flight volume dramatically increased, and in May 2023, Children’s Flight of Hope had over 200 flights. In February 2024, Children’s Flight of Hope had an organizational high of 259 flights! Therefore, its top priority is to ensure they welcome new families and serve them throughout their healthcare journey. Children’s Flight of Hope is working to focus on expansion to its staff and board members and committees, so they are keenly focused on growth and ensuring resources keep pace. Other areas they are focused on are technology improvements and target marketing. Yardi funding from last year provided 15 round trips for children to receive critically needed care and for the accompanying guardian. “Yardi’s donation was an unexpected and welcome surprise and meant so much during this time of unprecedented growth. It is one of the examples we use in our development committee and marketing conversations regarding the endless opportunities when we expand awareness, share our impactful story, and invite others to join in bringing this care within reach,” said Nelli. She continued, “It has also been an example we learned from: Are we doing enough to thank our corporate partners? During this busy time, we must be sure Yardi and others know the depth of our gratitude.” Nova’s Journey At just six months old, Nova was diagnosed with neuroblastoma, a rare pediatric cancer that affects less than 1,000 children a year in the US. Through travel to Memorial Sloan Kettering Cancer Center in New York City, Nova had surgeries and a variety of treatments, and one year later, doctors shared the powerful words that she was NED—no evidence of disease. After initially taking 44 flights provided by Children’s Flight of Hope, Nova now travels several times a year for a clinical vaccine trial to ensure she stays cancer-free. “And thanks to the kindness of many, Children’s Flight of Hope will be there for Nova and her family every time they turn to us,” expressed Nelli. Volunteer Opportunities Children’s Flight of Hope has limited volunteer opportunities due to the nature of their work. However, they are open to volunteer opportunities at its three local events and volunteers for its committee and board leadership. One event is Hops for Hope, which pairs 30 breweries with 30 companies in a team competition to raise funds for its mission and to create a signature beer. This culminates with a public festival in September. Company teams usually have at least ten members and are led by a team captain. For event involvement, please get in touch with Heather Miller, Director of Community Engagement at [email protected]. “We are committed to taking thoughtful and strategic steps to expand our national awareness and...

Honoring Justin Dickinson

The annual Changemakers series — sponsored by Yardi for the sixth year in a row — continues to celebrate innovative leadership in senior living. We’re loving the opportunity to feature visionaries like Justin Dickinson, co-founder of Evolve Senior Living, who’s part of this year’s Changemakers class. With Evolve launching in 2023, Dickinson has fresh insights on topics crucial to the industry today including value-based care, data visibility and more. Read on for a glimpse at his insightful interview with Senior Housing News (SHN). Learn from Changemaker Justin Dickinson SHN: Do you see yourself as a Changemaker? Are you always excited to drive change? Dickinson: Definitely. I think that the industry, depending on who you have spoken with or what your opinion is, was really founded in the early to mid-90s in terms of private pay, AL, and memory care. Over the course of time, the industry has shifted from more of a hospitality model to more of an acuity-driven model. As that shift has happened, there’s been a lot of change as it relates to data, technology, the operations, and the investment structure. I think that that change will continue to happen in what the future looks like in terms of hospitality or the acuity model is to be determined. I believe that is going to be more of a care-driven model. From my perspective, being a new operator, and a younger individual in the sector, I do view myself as a change agent, having the ability to look at some of these problems with a fresh set of eyes and with fresh perspective. I think it’ll be interesting as regulatory pressures persist and the model changes to continue to look at things through a new lens. SHN: Given where you think it needs to go, do you think that the industry is changing fast enough to keep up with the times? Dickinson: Change is happening faster now than it ever has. This change is being driven by some of the regulatory pressures I mentioned and external capital market pressures. You’re seeing consolidation abound. We went through the change curve that we saw on the data side through the ’90s and early 2000s. 2005 through late 2020 was the advent of the [Software as a Service] model. SaaS companies came about within our space and started to really make a move. I think now we’re starting to see AI make a big play, and I’ll layer that onto the SaaS model. The change curve on the data size is reaching a new era, which will further expedite change. Change is happening quickly, and stakeholders need to be prepared for that. SHN: Choose one artist, scientist, thinker, engineer, entrepreneur, or other person living or dead to help change the senior living industry for the better. In only a few words, who are you choosing and why are you choosing them? Dickinson: Steve Jobs, because he’s a revolutionary thinker and he helped to reimagine his sector. We can use that type of insight in ours from a technological perspective. Read more insights from Changemaker Justin Dickinson Explore Justin Dickinson’s interview with SHN. We look forward to highlighting the next batch of honorees — coming...