When you invest in your energy strategy, the rewards are proportionate. Simply put, the upgrades can pay for themselves. You just have to get the ball rolling first. That was just one of the key takeaways from our recent webinar on energy efficiency with McKnight’s Senior Living. Randy Moss of Yardi led the discussion on ENERGY STAR benchmarking and best practices for providers, and he was joined by Christopher Wright from Merrill Gardens, who shared his company’s own experience with tracking energy usage and reducing spend. Merrill Gardens’ road to energy success Starting in 2016, Merrill Gardens was required to record and report their energy usage by the city of Seattle. And at first, everything was done manually. Staff were pulling data from paper bills and accounting systems to upload into ENERGY STAR for benchmarking. Eventually, the city’s utility provider enabled automated data sharing, which simplified the entire process. The state of California soon followed with regulatory requirements, and seeing the writing on the wall, Merrill Gardens began rolling out benchmarking at all of their communities nationwide. Like in Seattle, many utilities needed manual data entry at first, but nowadays, the majority allow automated data transfer. By late 2019, Merrill Gardens had a year’s worth of data, which gave them great visibility into their buildings’ usage compared to one another. “Based on those sorts of trends, we already had the ability to identify buildings to focus special attention on for CapEx and operation improvements,” said Wright. Unfortunately, the pandemic brought new hurdles, but that only sharpened their focus. “In early 2020, like everyone else, we discovered our resources were suddenly and unexpectedly limited, while at the same time, savings and operational efficiencies were even more important,” said Wright. “Partnering with Yardi over the last...

Is it possible to shorten the fallout of an economic crisis? Researchers at the University of Maryland believe it’s possible. Preventative measures can mitigate the impact of economic downturns by creating neighborhoods that are naturally resilient to variances in economic performance. Diverse neighborhoods, researchers propose, can decrease the rate of foreclosures and sales before and after economic crises strike. What puts homogeneous neighborhoods at risk?  After World War II, planners developed neighborhoods with a single income bracket in mind. Like their urban counterparts, these planned communities segregated individuals and families based on their earning power and, occasionally, place of employment. During difficult economic times, neighborhoods that lack diversity are prone to clusters of foreclosures and sales before and after the peak of the recessionary activity. Neighborhoods that relied heavily on one employer also suffered severe spikes in financial difficulties. The homogeneous nature of these neighborhoods left them vulnerable. If one company or industry suffered, the entire neighborhood suffered as well. Neighborhoods with high concentrations of bank-owned and for-sale homes take longer to recover from economic downturns. Residents that struggled with mortgages may have postponed home maintenance in an effort to conserve resources for mortgage payments. As a result, many foreclosed homes show signs of physical deterioration. Additional damages may occur during the eviction process. Neighborhoods with high concentrations of foreclosures and sales experience the devaluation of nearby homes. Additionally, as lender confidence decreases, so will investment in the area. To create neighborhoods that are more resilient in the face of economic trouble, University of Maryland researchers suggest that developers shift to mixed-income housing models. Uncovering the economic disadvantages of homogeneous neighborhoods The study began by creating a data set that logged zoning and foreclosures across 14 metropolitan statistical areas (MSA). Researchers selected MSAs from throughout the...

Virtual and self-guided tours have helped numerous property managers fill a lease up during social distancing. When it comes to welcoming new residents, though, creativity and agile software make it possible to maintain space without seeming distant. Personalization is essential Personalization is a key element in helping new residents feel welcomed. These days, many of the best practices for personalizing welcome packages still apply. They simply require a bit of creativity to implement while keeping space, health, and customer satisfaction at the forefront of welcoming efforts. Leasing agents can assist welcoming committee members with helpful tips about the new residents. When your marketing and leasing platform integrates with your property management software, the notes that you put in prospects’ files easily transfer to resident files! Note pet ownership and areas of interest such as container gardening and DIY crafts. Your notes can inform the types of gifts included in each new resident’s welcome package. Remember: thoughtfulness makes a greater impression than price! Even when you can’t greet new residents face-to-face, the thoughtfulness and personalization of your welcome package can speak for you. Local treats delivered Since COVID-19 precautions required businesses to limit on-premises operations, delivery features have become a necessity. Many locally-owned small businesses that did not invest in delivery services have implemented them in recent months. The shift to delivery works in your favor. Include gift cards and discount vouchers in your welcome basket. Gifts from locally-owned shops and restaurants have an even stronger appeal. Every transaction is vital to small businesses. Your patronage demonstrates your efforts to support entrepreneurs in the community while giving residents a preview of the hyper-local treasures in the neighborhood. Use your online concierge platform as a delivery system for your welcome packages. Notify residents when the package...

The first day of the Goldman Sachs diversity pledge has arrived. The investment bank announced that as of July 1, 2020, it will require diversity amongst the board members of new applicants in the United States and Europe. When announced in January, the investment bank could not have foreseen how poignant the pledge would become. All eyes on diversity Late spring and summer brought an onslaught of social issues to the forefront of American culture. As the nation attempted to establish a new normal amidst COVID-19 precautions, essential workers kept the economy and healthcare systems afloat. During these times, 1 in 3 women were considered essential workers. Also during this time, researchers revealed that the pandemic brought worsening economic and social inequalities for women. The necessary role of women in the workforce juxtaposed the inadequate measures to help them balance the demands of work and home. To add to the complexity, March marked the beginning of social unrest. A series of police-involved shootings sparked the first wave of protests highlighting discrimination against minorities within the justice system. The protests continued into June, joined by Pride Month events that highlight the struggles of the LGTBQ community in the workplace and healthcare system. Consumers and employees across the U.S. forced businesses and institutions to examine their inclusion practices or lack thereof. Goldman Sachs CEO David Solomon could not have foreseen any of this back in January. He could not have known that pandemic fallout and social justice demonstrations would place the bank at the forefront of the social equity revolution on Wall Street–but timing is everything, even when it’s unplanned. Bye bye “bro boards” Goldman Sachs now requires all American and European IPOs to have at least one “diverse” board member. Solomon emphasized that women are...

The current rate of change in senior living is unprecedented. Even before the coronavirus outbreak spurred extra safety measures, providers were quickly adopting novel models and methods as the boomer generation has grown closer to becoming the core market. Mary Leary, president and CEO of Mather, has driven many such changes herself. A leader with decades of experience on both the for-profit and not-for-profit sides of senior living, Leary is unafraid to forgo tradition in pursuit of something better and bigger. It’s a core reason why Mather, under Leary’s stewardship, has grown from serving 5,400 older adults to nearly 60,000 in the 18 years she’s been at the helm. And it’s also why Leary has earned the title of Changemaker from Senior Housing News. The Changemakers is a Yardi-sponsored series that profiles senior living leaders who’ve helped redefine their industry. Leary’s interview with SHN goes into depth on how Mather has successfully transformed its operations during the coronavirus and what senior living might look like after things return to “normal.” Check out this excerpt from the interview: Obviously, this is something that’s shaping the industry. Is it changing how you are currently thinking about senior living in general? I think COVID-19 will absolutely lead to changes in senior living, and I think that it will speed up the pace of change in a way that is unprecedented. Everything that I do and think about right now is colored by the dramatic changes in our country and communities. I think part of innovating is forgetting, unlearning, dismantling and undoing what one does currently, and that is exactly what is occurring in senior living and our country right now. With virtually everything, the increased velocity and adoption of technology is already impacting everything we’re doing. It’s...

It’s been months since the coronavirus arrived and upended normal as we knew it. But slowly and surely, things are stabilizing, business are reopening and people are going back to their routines. In senior living, however, safety measures remain for the protection of residents and staff. It may be many more months until anything resembling “normal” returns for older adults in communities. But that doesn’t mean they can’t have fun and live their lives in the meantime! For the previous two posts on positive senior living news, I covered different Yardi clients across the country. This time, we’re focusing on one in particular: SRI Management. They recently highlighted creative activities at their communities in their own blog post and invited us to share them with you. Here are a few stories from their residents and staff. Enjoy! Music video goes viral With ample social distancing, handmade signs and a great sense of humor, residents from the Cove at Marsh Landing showed how much they’ve already overcome throughout their lives, affirming their strength and resolve to beat this pandemic too. All to the tune of Stayin’ Alive by the Bee Gees. Check out the news article for the video. Delivering care outside the community With visitor restrictions still in place, spouses of residents haven’t been able to see their loved ones as much as they’d like, and many are battling loneliness without the support of an engaged community. So the workers at the Superior Residences at Brandon came up with the idea to go visit the residents’ spouses themselves and give out gift bags. They called it “Operation Spread the Love.” Mother’s Day drive-through parade For Mother’s Day, residents at The Arbors of Gulf Breeze were treated to a parade on wheels, courtesy of family...

Even before the COVID-19 pandemic, Antonio Marquez’ Comunidad Partners’ properties in Sunbelt markets throughout the U.S. were standouts in the affordable housing sector. Not only did they offer safe and affordable residences for families, but residents of the portfolio’s approximately 10,000 units could take advantage of after school programs, health and wellness classes, financial literacy and tax help courses, and more. Featured at a 2018 Fannie Mae conference hosted by The Atlantic and profiled in this exceptional video posted by Affordable Housing Finance, it’s easy to grasp the sense of community that Comunidad Partners created from its start in 2007 – when Marquez founded the company to invest in underserved workforce and affordable housing communities. Asked often about his “why” for such deep community involvement, Marquez says he was motivated by his family background. As immigrants and entrepreneurs, his parents Juan Antonio and Pamela instilled a strong sense of community responsibility in Antonio Jr. His father began his working life as a vineyard worker, but ultimately started one of the nation’s largest distribution networks of Hispanic foods from his garage. His son learned that with a good idea, and a lot of hard work, amazing outcomes could be achieved. After finishing his undergraduate degree at Cal Poly San Luis Obispo in California, he began exploring the multifamily industry. “I wanted to provide more than just shelter. These are living, breathing souls and families,” Marquez said. “I really boiled down my ‘why?’ to what I took for granted growing up. My parents made sacrifices and were phenomenal in terms of supporting us and providing a quality roof over our head, food on the table, a good education even though we were a low income family. My ‘Why?’ was to provide these same impactful things to...

So, you’ve decided to invest in more robust property management software to navigate the challenges of remote work and social distancing. One look around the proptech marketplace reveals that there are dozens of options available, many of which seem to offer similar services. With so many options on the market, what should you look for? Discover five key features to look for when choosing property management software. Truly seamless integration There are plenty of property management systems that are compatible with ancillary services by a different brand. There are, however, a few problems with integration between different brands and different platforms: Primarily, there is no guarantee of long-term integration. When you’re dealing with two separate companies, there are opportunities for acquisitions and other changes that may affect long-term compatibility and availability of either product. Secondly, there are two software systems that need regular updates. That means more maintenance and headaches for your staff. When those systems are updated, you can only hope that they will update in unison. If not, you may experience delays, lose functionality or accuracy. That’s wasted time for your staff and potentially costly errors for you. Seamless integration occurs when both the property management software and ancillary products function on a single platform by a single company. With seamless integration, you can ensure optimal efficiency in the long-term with less work for your staff to keep products in sync. Mobile ready and browser agnostic A web-based property management solution is essential as organizations honor social distancing protocols. Web-based and mobile-ready software allows you and your team to work without being tethered to the leasing office. When working from home, out in the field or travelling, you can securely access the information you need. Your office staff will be empowered to...

Yardi Vasti Vikas Prakalp (YVVP), Yardi’s dedicated corporate social responsibility project in Pune, India, supports NGOs and implements direct interventions in urban communities (vastis) of Pune city. As the global COVID-19 pandemic has impacted India severely, YVVP has pivoted to help. Normal field visits to the vastis halted when a lockdown to prevent COVID-19 spread began in late March. The CSR team switched to using virtual platforms to stay connected with beneficiaries and stakeholders, to understand the situation on the ground and address unprecedented issues. This has presented various challenges. Many vasti residents do not have smart phones, internet access or resources to recharge phones. “Lockdown restrictions in congested spaces combined with loss of jobs have created high levels of fear, anxiety and frustrations among family members, in addition to hunger,” said Bharati Kotwal, head of CSR at Yardi Pune. “Our stakeholders in vastis, such as community mobilizers, sanitation committee members and youth leaders have helped us to identify the neediest families and do what we could to relieve some of the distress.” Aiding with sanitation and sustenance needs YVVP has provided relief to vasti residents in two significant ways during lockdown: Provided dry ration kits (food and grocery items) to families identified through the YVVP field team and NGO partners. Supplied masks, sanitizer and sanitary pads to those isolated in shelters located in municipal schools. “We provided dry ration kits to over 2800 households in three months through NGOs or by procuring items directly and distributing them ourselves,” Kotwal said. “Though NGOs, foundations, individuals and Pune Municipal Corporation (PMC) were providing similar help, we could reach those who were left out because of our connections in the vastis.” Keeping community toilets clean and functional is one of the largest efforts of YVVP. The...

For the loved ones of residents in senior living, concerns about the coronavirus have not yet abated, even as states reopen and life gradually returns to “normal.” Residents in communities are at a higher risk for COVID, and restrictions on visits remain in place to protect them. So it’s not hard to see why family members would want transparency from senior living providers. Has anyone there caught it? What protocols are in place to help? How is everyone holding up? Since the start of the outbreak, dozens of states have instituted reporting guidelines that require assisted living and skilled nursing facilities to report their COVID numbers to public health authorities. But some states have gone even further by asking providers to share those same numbers with the family members directly on a daily basis. Of course, many providers have already taken great steps to expand their communications. They’ve added FAQs to their website, posted notices to their online resident portal, and have sent plenty of emails to loved ones, residents, staff and vendors. At Yardi, we’ve had clients reach out for help setting up email campaigns like these, so we’ve put together a quick tutorial video that covers how you can create emails that can be sent in bulk to a customized list of contacts. Senior living email correspondence in Yardi Both Yardi Voyager Senior Housing and RENTCafé Senior CRM offer email correspondence. Whichever you choose to use, you can leverage templates to pull in information like the recipient’s first name, today’s date and facility name from your database. That way, you can easily customize your emails in bulk. The video will walk you through how you can choose your information categories, format your text and then filter your contact list. It also explains...

Public housing agencies across the country are open for business, even when their physical offices are closed. Their services and resources are literally vital to the health, safety and welfare of millions of Americans. How do they make it work? Hagerstown Housing Authority (HHA), which serves the city of Hagerstown in Maryland, uses specialized software solutions from Yardi that connect their staff to critical workflows that serve waitlisted households, applicants, participants and residents, and landlords. “The coronavirus is an awful situation, of course, but it has given us an opportunity to help our staff realize the benefits of cloud-based software, as well as online solutions for our applicants and residents,” says Sean Griffith, executive director for HHA. HHA has been serving its residents for more than 65 years. As a high-performing housing authority, as distinguished by the U.S. Department of Housing and Urban Development, HHA owns and/or oversees 1,320 dwelling units in 11 communities and more than 900 Housing Choice Vouchers for use by residents who do not dwell in HHA-owned properties. Approximately 12% of the city’s residents are assisted by HHA housing resources. The waiting list for housing assistance from HHA grows daily as economic variables affect local residents. “There has been a definite uptick in need for housing assistance. Our properties are in demand, and the waiting list for Housing Choice Vouchers is growing,” says Griffith. Using RentCafe PHA, HHA makes it possible for interested households to place themselves on its waiting list. The process is handled completely online without the need for an office visit. That feature is particularly timely for HHA given the circumstances created by the COVID-19 pandemic. The agency went live with the Yardi PHA suite in the spring of 2019 and considers cloud functionality one of the...

The 2020 GWA Conference, like many events nationally this year, was forced to pivot to a virtual setting. Despite the quick timeline to put the online event together, GWA was able to gather a fantastic group of presenters and over 1500 attendees took part in the 24-hour production.  The prevailing themes were health and safety for both members and staff, as well as the changes the coworking industry can expect to come out of this crisis stronger and smarter. Here is a look at some of the takeaways from the global event. The office is not dead One of the interesting nuances from the pandemic has been how productive employees have been while working from home. Employers have generally been pleased with the productivity of a completely remote workforce. It is potentially a defining moment for coworking spaces, which could reap the benefits of companies who realize they don’t need to house everyone in one centralized location, and many positions could become fully remote. Previously remote workers, on the other hand, may just feel some satisfaction at what they’ve known all along. However, bandwidth limitations, distractions or lack of comfort could pose some challenges while working at home. Joe Brady, CEO Americas of The Instant Group, explained that while work from home policies have had success, coworking solves for the issues that WFH presents. Brady’s stated the 3 C’s for where people choose to work are concentration, community and collaboration. While one may achieve some aspects of that from home or with the emergence of video conferencing, the coworking industry is a hub for all three simultaneously. “The idea of innovation could be dying if everyone is permanently working from home,” he said. “The threads of culture strengthen when people come together.” Ensuring health...

With the outbreak of COVID-19, the new normal of social distancing has created a big challenge for many businesses — and real estate firms are no exception. Fortunately for many multifamily operators, opportunities to streamline common business processes using online software solutions are helping to surmount challenges, while delivering unexpected benefits. That’s what Avenue5 Residential has discovered. The Seattle-based firm, which focuses on third-party multifamily property management, oversees more than 375 properties and 70,000 units in 13 states, with offices in Denver, Orange County, Phoenix, Portland, Salt Lake City, San Diego, Spokane and greater Washington, D.C. Recognized as one of NMHC’s Top 50 Managers, Avenue5 is employing digital solutions from Yardi to protect their associates and customers during the COVID-19 pandemic, all without sacrificing service or missing revenue opportunities. In order to continue serving clients and residents, collecting rents, completing work orders and maintaining site operations while following CDC and regional health recommendations, Avenue5 relies on the Yardi Voyager and RentCafe online platforms. With COVID-19 concerns requiring the company to close its property leasing offices to foot traffic, Avenue5 further deepened their focus on promoting online options to residents at the onset of the outbreak; it subsequently saw a jump in resident online payment adoption from 50% to 70% as a result. April and May rent collections were strong, and executives are optimistic about collections in the months to come. “We expect to see a long-term benefit as customers acclimate to the ease of paying online, and as our associates reduce the amount of time spent on manual processes,” said Pål Ottesen, chief financial officer at Avenue5. Ottesen also noted that moving rent payments online had reduced numerous risks associated with accepting paper checks. In order to support residents directly impacted by COVID-19, and...

Yardi Aspire, a dynamic on-demand learning management platform is now available to Yardi clients in the Middle East. Yardi Aspire, formerly known as Yardi eLearning, offers online courses and live webinars in areas ranging from software skills and compliance to company policies and custom career development. By hosting all of an organization’s training-related course content and documents in a centralized platform, Aspire reduces the time needed to create, maintain and administer courses. Automated reporting functionality tracks learning progress and organizational trends. Recognizing the critical need for virtual training and the unique challenges faced by learners who are practicing social distancing, the Yardi Middle East support team and the Yardi Aspire team have worked to deliver creative learning options developed specifically for our clients in the Middle East. We’ve packaged the training style and product expertise of Yardi’s Middle East software support team into interactive, mobile-friendly courses in the Yardi Aspire Learning Management Solution. We are excited to announce the release of a new Middle East collection of online learning courses that ready to be delivered directly to you and your employees. We’ve taken the liberty of bundling our courses into role-specific learning plans that deliver effective training to the right individuals. “Aspire offers property managers a budget-friendly way to establish an immersive, intuitive training program very quickly and easily,” according to Neal Gemassmer, vice president of international for Yardi. “The platform’s role-based learning plans put the right topics in the right hands. The convenience and efficiency of Aspire advance employee career development and therefore organizational success.” This new partnership was conceived with one specific goal in mind- to assist clients like you with essential software training during a time when live classroom training is simply not an option. This is just one of many...

This is an exciting time for the team behind Yardi’s learning management software platform. Formerly known as Yardi eLearning, the product is now called Yardi Aspire, a name which showcases the software’s potentially exceptional benefits for users. At the same time, the features of Yardi Aspire have increased in demand as clients find creative uses for the software to solve 2020’s unique challenges At the helm of the Yardi Aspire team is Patty Evans, director of Yardi Aspire content and support and Yardi corporate training, as well as Yves Hajjar, director of Yardi Aspire product development. Read on to learn more about Evans’ outlook on the recent product changes. Q: Tell us about the change to Yardi Aspire? Evans: Yardi Aspire has evolved over the past several years. It was time for the product’s name to truly reflect the scope of the solution, including all the forward-thinking features designed specifically for the property management industry’s leading learning and content management system. Q: Describe the recent developments that led to the rebrand? Evans: The Yardi Aspire catalog inspires a higher level of engagement than simple “training” videos. We feel that videos can be helpful in quickly transferring information to a student who is already familiar with a concept or for basic topics. I think many would agree when I say that video-based training is a learning style that may not work for everyone. Additionally, the Yardi Aspire catalog contains much more than Yardi software product training content. Approximately 25% of the 1,200+ course library is not about Yardi software at all. We offer nearly 400 courses on compliance, human resources, professional development, safety, leadership, leasing, personal development topics and more. Q: What other features may be important for new users? Evans: We’ve spent time carefully...

For senior living communities, rolling out a new system interface is no simple feat, especially for a service as crucial as electronic medication management. And when you consider that pharmacy partners must be involved too, it’s not hard to see why implementations are often tricky. But that doesn’t mean they can’t go smoothly. Our Yardi eMAR team has years of hands-on experience in software implementation and building close relationships with both community and pharmacy staff. Where other software vendors may cut the pharmacy out of the process, we prefer to show caregivers how things work with a representative from the pharmacy right there with us. Implementation collaboration We’ve found that bringing everyone on site for the initial implementation helps the communities and pharmacies understand the workflow better. Since they can walk through the processes together, they get a clearer view of how the other side handles a medication order. Of course, if issues crop up down the road, we’re always happy to help out. “Yardi is always extremely responsive. I get answers very quickly and action very quickly,” said Taylor Smalling, manager of account support and enterprise projects at Guardian Pharmacy Services. “That enhances the quality of the relationship and helps build trust.” Guardian, the nation’s third-largest long-term care pharmacy, is part of the Yardi Pharmacy Network. We’ve integrated their pharmacy software with Yardi eMAR for real-time medication information sharing and automated prescription fulfillment. So when it comes time to implement the interface at a new community, the setup is much simpler. “With Yardi, we are usually in touch with one or two people. We can work with them directly to get all of the interface components set up,” said Taylor. “It’s a really efficient process, and I think it pulls in the right...

Editor’s note: the following article featuring Yardi’s Richard Gerritsen was originally published in the Dutch real estate publication Vastgoedmarkt. Reprinted here with permission. The coronavirus outbreak is a powerful reason to take the digitisation of many work processes to a new level. “There is both a need and a desire for online residential leasing in a socially distanced world,” states Richard Gerritsen, regional director of European sales at Yardi. The technical tools to do so are already available. According to Gerritsen, the property world rarely views technological transformation in strategic terms. “Clients want operational solutions. Vendors respond by making apps available for very specific purposes. The use of tools like these undoubtedly has added value, but it doesn’t change the way we work. Whether you are a property manager, asset manager or fund manager: I firmly believe the use of technology should form part of your business strategy. A more fundamental consideration of the potential of proptech is often lacking, but today we have an urgent incentive to change that.” Old habits die hard Gerritsen is referring to ways of doing business that have been in place for decades. They may be comfortable and familiar, but they’re not best practices. “Technology is changing the way we live in big ways. The coronavirus has resulted in us getting used to different ways of communicating with one another. But in the property world, things still go on much as they always have. We need to make strategic decisions now to be prepared for the future.” Yet, Gerritsen believes the technology to revolutionise the management of residential and other types of property is already available. He points to the United States, where it’s possible to arrange a property viewing at any time of the day without an...