Share Ourselves, a Yardi-supported nonprofit, believes everyone deserves access to quality healthcare. Share Ourselves was established in 1970 in Newport Beach, Calif. and is a healthcare organization that provides comprehensive health and support services for the entire Orange County community. From serving as a comprehensive healthcare provider to offering social services like financial assistance and food distribution, their approach considers everything it means to be healthy and live the best life possible. Share Ourselves also has a mobile unit in Costa Mesa and Huntington Beach. “Because when we uplift and prioritize the health of every individual, we become stronger as a community,” said Christy Ward, chief executive officer of Share Ourselves. The impact of Share Ourselves’ services is profound, as they provide healthcare and empower individuals to lead healthier lives. The Food Pantry is a crucial segment of its Social Services Department, which includes homeless navigation services, assistance with short-term housing resources, utility assistance, Case Management and other linkages to other community organizations. Share Ourselves is also involved in many community events, including Adopts A Family, Back to School Backpack Distribution and Thanksgiving Food Distribution. These services meet immediate needs and inspire hope and a brighter future for the community. “Share Ourselves has been working across every sector of the organization to expand our capacity to meet our commitment to provide access to care and support services for underserved populations in Orange County,” said Ward. This past June, Share Ourselves doubled its ability to provide health care and treatment to patients at its Mission Viejo clinic site, increasing the number of exam rooms from four to eight and adding dental and behavioral health services. This month, Share Ourselves will officially cut the ribbon at BESST Center, partnering with Newport-Mesa Unified School District to start...
Self Storage Status
Trends and insight from Yardi Matrix
As we move through 2024, the self storage market is navigating a complex landscape shaped by a mix of persistent challenges and emerging opportunities. Yardi Matrix experts Jeff Adler and Tyson Huebner recently delivered an update on the industry’s current state in a webinar (available for download here), drawing on recent data and trends to offer a clearer picture of what’s happening in the self storage sector.The self storage market has faced significant headwinds over the past year. Despite the typically bustling summer season, performance has remained underwhelming. Home sales—a key driver of occupancy and rent growth during the pandemic—are at their lowest in nearly two decades. This downturn has translated into declining revenue and net operating income (NOI) growth for self storage Real Estate Investment Trusts (REITs). “Advertised asking rent rates have been falling year over year for almost two years, with a decline of 4.1 percent recorded in July. Although this represents a slight improvement from previous months, the overall trend remains negative,” said Huebner, research director for Yardi Matrix. On the supply side, there is some positive news. The delivery of new units is finally trending downward, with 2024’s expected deliveries being nearly 10% lower than those in 2023. This reduction in new supply should alleviate some pressure on the market and help stabilize conditions. “Looking ahead to 2025, the reduction in new supply could help support growth, and there is optimism that a potential drop in mortgage rates might boost home sales and, by extension, demand for self storage,” Huebner said. There are emerging signs that the market may be nearing a turning point. For the first time in nine quarters, average rent and occupancy rates have shown relative stability year over year. This stabilization, which began in Midwestern, Northeastern,...
Meet Yardi Case Manager
Q&A with Mark Livanec
Yardi Case Manager was introduced in 2023 and is one of the newest solutions integrated within the Yardi Affordable Housing Suite. Let’s learn more about it from Yardi Affordable Housing Industry Principal Mark Livanec. Mark, let’s start at the beginning. Tell us what a case is. Cases are any situation, ticket, or task that requires property managers or resident service staff to track and resolve. The flexibility of defining and managing case resolution workflows is one of the things I like most about Yardi Case Manager. Affordable housing providers have a lot of flexibility and powerful ticketing tools that will help them track the services they provide daily. There is also flexibility in how cases are created given Case Manager’s integration with the Yardi Affordable Housing Suite. A resident can create a case using their RentCafe Affordable Housing app on their mobile device, eliminating the need to make a phone call or visit the front office. There’s even automation built in that creates a set of tasks and team assignments necessary to resolve each case that come in from various sources. What’s the main reason Yardi clients should add Case Manager? Integration with Yardi Voyager, including our upcoming solution Compliance Manager powered by Voyager 8, make Case Manager a prime opportunity to strengthen affordable housing compliance without complicated workflows. Affordable housing programs are highly scrutinized by the federal, state and local funding programs. Yardi Case Manager can help keep providers in compliance by tracking service requests, reasonable accommodation requests, the work done to accommodate requests and how each case is resolved. How does tracking cases mitigate risk? One important example is fair housing, which includes laws that ensure affordable housing providers treat applicants and residents equally. Throughout the resident lifecycle, affordable housing providers need to document their interactions with every household they serve. When it comes to tacking and following through on requests, Yardi Case Manager is a great tool to keep everything consistent for everyone. Similarly, several laws require housing providers to accommodate reasonable requests for modifications to forms and living spaces. For example, applicants or residents may need special equipment installed in a unit because of a physical disability, others may need forms translated to a specific language. Not providing a reasonable request to make housing physically accessible can raise red flags with auditors and can lead to litigation. Yardi Case Manager is designed to make sure affordable housing site staff not only record the request for reasonable accommodation but serves as a tool to document follow-through efforts. Without proper documentation, your organization can be at risk of fair housing litigation. Domestic violence situations are another type of case that requires special attention and extreme confidentiality. Yardi Case Manager enables affordable housing providers to keep certain cases private and, on a need-to-know basis, to keep everyone safe and prevent unlawful disclosures. Why Yardi Case Manager when there are already prospect and resident records in Yardi Voyager? Yardi Case Manager has workflows that are specifically optimized for service delivery staff. That functionality can help keep things simple and effective since it’s easy to train, configure and use throughout the workday. There is, of course, integration with Yardi Voyager for access to cases through the upcoming Compliance Manager, powered by Voyager 8 dashboard. Cases can be tied to specific members of a household record, and notes from maintenance techs and inspectors can be copied to cases. But, if an affordable housing provider prefers to keep Yardi Case Manager as a tool primarily in use by their resident service coordinators and other front-line site staff, that works as well. How can Yardi Case Manager expand to help cover more types of requests? Case types can be configurable to unique request scenarios for applicants, residents, vendors/landlords, and even employees. Service coordinators can track case progress from start to finish via customizable tasks, team assignments and reports. The table below gives examples...
Ventura Land Trust
Ventura Wild
Quality time in nature is one of Venture Land Trust’s greatest gifts to the community for a sustainable future. Yardi-supported nonprofit Ventura Land Trust, established in 2003 in Ventura, Calif., connects the community with educational programs about nature and fosters the next generation of environmental stewards. Then, in 2009, Ventura Wild was established as the primary education initiative that supports youth aged two to 13 years old with meaningful outdoor learning experiences. Serving nearly a thousand students annually, Ventura Wild’s programs connect children to nature by nurturing awareness, knowledge, skills, and stewardship in the natural world. “With the support from funders, scholarships are made available throughout the year for any of our sessions-long programs and summer camps,” said Sarah ‘Trudy’ Trudeau, education manager for Venture Land Trust. In addition to Venture Wild, Venture Land Trust offers another educational initiative called Nature by Design that provides subsidized field trips and session-long programs for Title-1 schools in Ventura County. These programs are designed, often in line with the classroom’s objectives, to connect children to nature through hands-on learning experiences related to the natural sciences. “By balancing the school day with time in the outdoors, students return to the classroom happier, healthier and with a great sense of motivation,” explained Trudeau. Ventura Land Trust hopes to expand and grow its scholarship fund to support more families with financial assistance. With the help of Yardi funding, it can offer more subsidized programs for local schools and underserved communities to create excellent access to the outdoors. “We are incredibly grateful for the funding received from Yardi! It has greatly supported our ability to provide scholarships and connect more families to nature in our community,” said Trudeau. Reaping Native Plants Being in reciprocity with nature is a key part of Ventura Land Trust’s environmental programs. In addition to modeling Leave No Trace principles, it facilitates stewardship projects to encourage children to give back and take part in restoring wild spaces. In 2022, its preschool-aged students supported a large planting project at one of Ventura Land Trust preserves. With the support from its team, these eager three-year-olds carefully chose their native plant to place into the earth. Students were encouraged to water and care for their plants each week that followed. Today, many of these students are still in these programs. Now five years old, Wesley is delighted to see that the Black Walnut tree (Juglans californica) he planted has grown taller than him! Volunteer Opportunities Join the community and Ventura Land Trust with volunteer opportunities throughout the year. Those interested in leadership opportunities and internships for teens and young adults can apply here or contact Ventura Land Trust at (805)-643-8044 extension 4 or [email protected]. 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...
YASC Multifamily Spotlight
40 Years of Innovation
2024 is a big year for Yardi, and it’s not just because we’re celebrating 40 years in business. This year marks an exciting shift in our innovation process, exemplified by the new AI solutions presented during YASC 2024’s opening spotlight session for multifamily. Here’s a recap of innovations and features unveiled during the event. Marketing with AI Ready to streamline content creation and optimize marketing spend? As Esther Bonardi, Yardi vice president of corporate marketing and REACH by RentCafe, put it, “AI is everywhere, and it’s impacting all of our development from the time renters start looking for their apartment, and all the way until they’re renewing their lease.” Here’s a peek at new AI-driven solutions to help you drive more quality prospects. Simplifying content creation with Creator by Virtuoso The new Creator by Virtuoso — included in Marketing IQ Genius — uses AI to generate and schedule content for property websites. Whether it’s page narratives, blog posts or Google Business Profile updates, content creation has never been easier. Marketers can now update websites and social feeds with minimal effort, ensuring they stay competitive in the digital landscape. Data-driven budgeting and strategy Marketing IQ Genius also includes more advanced SEO and PPC reporting, as well as PPC budget recommendations powered by machine learning. Get strategic suggestions that help you make informed decisions about your advertising spend. Allocate budgets more effectively and drive better results based on real-time data and insights. Speed to lease: Accelerating the customer journey with AI “Days equal dollars when it comes to vacancy loss,” Paul Yount, industry principal, said to a crowd of multifamily professionals — but not before he somehow weaved a baby picture of himself onto a slide. (It all connected to his YASC session, “Back to the Future of Leasing and AI.”) Speed is everything when it comes to turning your prospect into a resident — and our AI initiatives are making that process even faster. Here are some updates that will help you reduce vacancy loss. More efficient leasing Chat IQ, powered by Yardi Virtuoso, provides instant, personalized responses to your customers that keep them engaged and informed throughout their leasing journey. Plus, our income and identity verification solutions streamline approvals, ensuring maximum speed when it comes to converting an inquiry into a lease. Self-serve maintenance Our new self-serve maintenance feature guides residents through minor fixes, reducing the hassle associated with maintenance and the workload on property managers. This not only enhances resident satisfaction but also frees up time for teams to focus on more strategic tasks. Yardi Energy Yardi Energy has exciting new updates in store to help you manage energy usage more efficiently, so you can reduce cost while aligning with environmental best practices. Enhancing the resident experience We’re also rolling out new innovations that will make your resident experience even better. Get ready for increased resident satisfaction and renewals. Rewards by RentCafe Resident retention is key to long-term success, and our new rewards program for residents is designed to do just that. Rewards by RentCafe incentivizes your residents to pay rent on time by rewarding them for on-time rent payments and subscriptions to Resident Services by ResidentShield. Points can be redeemed for fun things like travel and shopping, helping you enhance satisfaction. Resident Services by ResidentShield As just mentioned, we’ve rolled out a comprehensive suite of resident services that cater to every stage of the resident lifecycle. But the highlight is our move-in tracker, which simplifies the move-in process for residents by giving them one place to sign up and activate all the essentials, like Wi-Fi and electricity. This helps them feel at home from day one, and gives you bonus points for a seamless experience — without extra effort on your part. The roadmap A preview of enhancements you can take advantage of now, or soon! Chat IQ It just keeps getting better with Chat IQ. This...
The Journey Continues
YASC 2024 Celebrates 40 Years of Yardi
It’s a milestone year for Yardi, and the air was buzzing with excitement as nearly 4,500 real estate technology leaders gathered in San Diego this morning to kick off the 2024 Yardi Advanced Solutions Conference (YASC). The theme of this year’s event is “the journey continues,” and it promises to be an exhilarating and insightful three-day experience for all YASC attendees. Kicking off the General Session, Esther Bonardi, vice president of corporate marketing and REACH by RentCafe, reflected on the company’s innovative past and exciting present. “The journey does not stop here and goes into the future, and maybe (this week), you will share something with us that goes into our future,” Bonardi said. YASC attendees received a commemorative silver coin marking a “moment in time, and we hope you go back home and remember you were here when Yardi hit 40 years.” Guiding principles and great determination Yardi founder and CEO, Anant Yardi, shared his personal memories of starting Yardi on his Apple II computer in Santa Barbara, Calif. Later in the opener, his son Kevin Yardi, today the company’s vice president, recalled falling asleep to the sound of his father’s keystrokes as he programmed late into the night. In the early 1980s, Mr. Yardi shared that his claim to fame was that those using Yardi software only needed one floppy disk for the program, instead of the more common three or four. The Apple II Mr. Yardi worked on made the trip to San Diego for the 40-year anniversary, demurely sharing the stage with all speakers. “At any point of time throughout the 40 years at Yardi, there was always a vision and a goal,” Mr. Yardi said. Despite early setbacks, he relied on “tenacity and a degree of stubbornness to keep at it, accompanied by optimism and clarity.” “Any growth must be planned and orchestrated with rapid learning and execution,” Mr. Yardi noted. He shared a poignant personal story – in the late 1990s, his late father encouraged him to quit while he was ahead, suggesting that as the business grew larger, the more complaints and challenges he would encounter. Mr. Yardi politely declined to follow the advice. Since then, the company has grown from around 300 staff members to over 9,500. “Behind every challenge lurks an opportunity, so when you’re challenged, recognize there is an opportunity lurking behind it. I would like to see the journey continue with all these traditions and guiding principles. At the end of these 40 years, there’s humility and gratitude. In terms of gratitude, without our clients and employees, this wouldn’t have happened,” Mr. Yardi said. Cutting edge technology and artificial intelligence Rob Teel, president of global solutions, and Akshai Rao, president of residential, took the stage to share exciting news about Yardi Voyager 8 and Virtuoso. Introduced at last year’s YASC and now adopted by over 1,500 Yardi clients, Voyager 8 features engaging dashboards, seamless and easy data, and offers business insights not just for accounting. It’s an ideal platform for even the most tech-skeptical executive or portfolio owner. The upgrade to Voyager 8 is simple and scalable. “You can go at your own pace,” Rao noted. Voyager 8 can be rolled out to some teams or properties first, rather than to the entire company at once. “Let us help you, we are here to help.” Virtuoso, Yardi’s artificial intelligence solution, continues to evolve with a mobile app set to launch in Q1 2025. Virtuoso features include a chatbot, smart AP and leasing features, and a virtual assistant, which will improve decision-making, task management and efficiency. Another neat Virtuoso feature will include Marketplace ordering, which is like Google Lens and will allow team members to take a photo of a product and source it immediately. For those who might still be iffy about using AI, Rao said: “We will always back up AI with human intelligence, our teams’ knowledge...
Congratulating Stephanie Harris
Changemakers 2024
The 2024 Changemakers series is complete! The annual series celebrates leaders who are paving the path for a brighter future in senior living — and we’re happy to play a part in sharing their stories. The final Changemaker to spotlight is Stephanie Harris, CEO and Principal at Arrow Senior Living. In her interview with Senior Housing News (SHN), Harris discusses how she’s changed as a leader over the years, her strong appetite for risk and her focus on staff satisfaction. Get insights from Changemaker Stephanie Harris SHN: Obviously, we at SHN think of you as a changemaker, but do you see yourself that way — are you always excited to drive change? Harris: Absolutely, I see myself as a changemaker. Change is in my origin story. I founded this company in 2005 as Turnaround Solutions with the purpose of transforming previously distressed assets through hands-on problem-solving and relationship-based sales solutions. My business card even defines the word ‘Turnaround’ as “becoming changed for the better.” It’s ingrained in our culture to constantly improve and evolve, seeking better ways to operate senior living through best practices in sales, marketing, and technology. SHN: In what areas do you think you are a changemaker? Harris: I am a changemaker in building higher performing sales strategies and implementing technologies to automate and supplement workflows. What I am most proud of is the culture we have built. Most of our team members come from outside of senior living and must learn the business from our vantage point, versus bringing old solutions and habits. This fresh perspective has helped us build a continuous improvement model and attract a dedicated team committed to revolutionizing how we engage with employees, residents, and families we serve. SHN: Changemakers tend to be risk-takers. Do you agree with that statement? How do you describe your own appetite for risk? Harris: I am a risk-taker. I bet the house when I formed this business while in law school, so much so that I had to move into my office. Over the past 24 years in this industry, my appetite for risk has become more balanced by a strategic approach to decision-making. I believe in taking calculated risks that drive innovation and growth. I do find myself more focused on gentle evolution versus revolutionary change as our organization grows and matures. I worry in some ways that over time I may hinder future progress if my appetite for risk changes. Hear more from Changemaker Stephanie Harris Read Stephanie Harris’ entire interview with SHN. We hope you enjoyed this year’s series — visit SHN’s site to revisit the...
Tenant Insurance Compliance...
Optimizing COI Tracking
It might seem straightforward to require that tenants provide proof of insurance when a lease is signed. However, managing a Certificate of Insurance (COI) for every tenant along with insurance policy endorsements and ensuring continuous coverage can be very challenging. Read on for a deeper dive with tips to successfully overcome challenges for maintaining tenant compliance. Why COIs matter A COI is a document issued by an insurance company that summarizes the insurance policies held by a tenant. It outlines the coverage limits, policy durations and other relevant details. Additional insured and subrogation information is outlined in the policy endorsements. Closely managing COIs is essential for landlords to verify that their tenants maintain adequate insurance coverage to protect against potential risks. COI management challenges throughout the lease lifecycle One of the primary challenges faced by landlords is ensuring the timely receipt and verification of COIs from tenants. Tenants may delay submitting the COIs or fail to provide the required coverage details. This delay can impede lease execution or expose the landlord to increased risks for leases already signed. Landlords often have specific insurance requirements for their commercial properties. These requirements may include minimum coverage limits, additional insured endorsements and specific policy provisions. Ensuring that tenants comply with these requirements can be difficult, as some tenants may struggle to find insurance policies that meet the landlord’s criteria. COI management involves tracking policy expiration dates and ensuring that tenants renew their insurance policies before they lapse. Monitoring policy expirations for multiple tenants can be time-consuming and prone to human error, potentially leaving the landlord exposed to liability if a tenant’s insurance coverage expires. Another challenge landlords face is the possibility of tenants providing COIs with inadequate coverage or insufficient policy limits. In such cases, the landlord...
Shaping Tomorrow’s PHAs
With Innovation and technology
The housing crisis isn’t going away overnight, but with the power of innovation and technology, people can get housed faster and smarter. That’s why public housing authorities (PHAs) are stepping up to the challenge. We had the privilege of sitting down with some visionary authorities to discuss their plans, and to say we were inspired is an understatement. These agencies understand they need to adapt to meet the changing needs of their community. Leaders in the industry are taking the leap towards implementing technology and transforming their operations — even if it means dipping their feet into an area they aren’t familiar with. By choosing innovation, they’re setting the bar high for public housing authorities — proving that with the right tools and mindset, we can overcome the most daunting challenges. Their commitment to change is paving the way for a brighter future where all families can find safe and affordable housing. “We’re striving to be innovative in our use of technology and development of affordable housing units. We must think outside the box. It’s critical for housing authorities to reinvent themselves and become community leaders. And Yardi has been critical in helping us take that leap,” says Carol Jones-Gilbert, CEO of Palm Beach Housing Authority. In this article, you’ll learn how agencies are using innovation to: Prioritize residents in their operations Navigate the challenges of the PHA world Plan and prepare for the future Putting residents first It’s no secret that there are many moving parts in getting applicants approved for public housing. From managing waitlists to ensuring compliance, the process can be daunting and time-consuming. But agencies are moving forward as technology evolves. Paper processes are a thing of the past, and innovation is the new gold standard. With trusted software, agencies are prioritizing the needs and happiness of their residents. After all, assuring residents receive the support they need is paramount to the goals of public housing agencies. We caught up with Weneshia Brand, deputy director of the Ann Arbor Housing Commission, and discussed her success with Yardi. She explained how they continually strive for excellence in all aspects of their operations and want to set the bar high for other agencies to follow. She championed the simplicity of handling all their business in one platform, including their maintenance, reporting and financial activity. “With Yardi, we can manage our maintenance requests, financial records and compliance reports all in one place,” she offered. These integrations have saved her team hours while also reducing the risk of errors and increasing overall efficiency. But what’s most important is that, with innovation on the rise, agencies can focus on what really matters: the residents. Staff members can now dedicate time to more hands-on tasks, such as maintenance requests, property inspections and personalized support programs. The innovation doesn’t stop here for the Ann Arbor Housing Commission. Brand disclosed her plans to implement Yardi Case Manager. Their interest stems from the desire to be part of the continuum of care. “The case management system will allow us to process our homeless individuals more quickly, ensuring they receive the support they need,” Brand explained. This progressive approach confirms their commitment to leveraging technology to better serve their community and get more people housed. Keeping up with the ever-changing PHA world Public housing agencies are doing incredible work to keep up with the evolving PHA space. They’re navigating a complex web of regulations, adapting to shifting policies and managing staff turnover — all while ensuring their residents are receiving the care they deserve. Let’s be honest, compliance with HUD regulations can cause headaches for many agencies. Navigating the complexities of changing policies at the federal level, staff turnover and compliance work requires dedication and hours of planning. Among these dedicated agencies is the Palm Beach Housing Authority, which has leaned on Yardi to stay compliant and expand the areas they serve. In fact, their...
Ideal Living Quarters...
Local Summer Attractions
Local attractions have a lot of influence when buying property, especially in the summer, since nature is most attractive, and the energy level is monumental. Let’s delve into how to highlight the summer charm that cities offer. Local attractions. Start with the key local summer attractions such as popular parks, nature trails, and recreational facilities. If the property is located near one of the top ten national parks in America, highlight that feature and the unique experiences surrounding it. For instance, the Everglades in Florida, home to many rare and endangered species like the American crocodile and manatee, offer a unique and diverse natural environment. Or the Redwood Forest, which is more than just a collection of trees. It also protects vast prairies, riverways and almost 40 miles of coastline, providing a unique coastal living experience. These distinctive aspects of the local attractions make the properties in these areas more appealing to potential buyers, sparking their curiosity and excitement. Annual summer festivals, fairs and community events can also influence buyers’ move. In Atlanta, the annual Decatur Arts Festival transforms the streets of downtown Decatur into a vibrant artistic hub. It features diverse visual and performing arts and interactive experiences, fostering a sense of community and making residents feel like an integral part of the local arts scene. Don’t forget about local markets and food festivals. Farmers’ markets, food festivals and local culinary are significant for attracting buyers to the area. Houston’s BBQ Festival celebrates its 11th year with an impressive lineup of the best barbecue joints in the city. Many towns offer local farmers’ markets with fresh produce, local vendors and unique food experiences. Pikes Fish Market in Seattle offers fresh, wild, premium Pacific seafood. This emphasis on the quality and variety of local...
Donating Diapers
Helping Mamas
Helping Mamas is celebrating its tenth anniversary, and during this timeframe, the organization distributed over 10 million essential supplies back to its community! Helping Mamas is a Yardi-supported nonprofit established in 2014 in Norcross, Georgia, that works to elevate the well-being and dignity of women by providing diapers, feminine hygiene products and other essential baby supplies. In addition to its Atlanta office, Helping Mamas opened two new offices in Knoxville, Tenn. and Albany, Ga. “We harness the power of community support so that all families can thrive,” said Stephanie Ungashick, chief advancement officer for Helping Mamas. Helping Mamas collects many essential baby items for children from birth to age twelve. These include diapers, wipes, car seats, cribs, pack-n-plays, and more. This diversity ensures that every contribution makes a significant impact. Helping Mamas is partnered with over 150 nonprofit organizations, hospitals, government agencies, and others throughout Georgia that help children in need. The organization distributes these essential items directly to families and individuals, and other agencies send social workers to ‘shop’ for the items required for only a few children at a time. “We work with partners that address many societal challenges, including homelessness, domestic violence, prevention/child abuse/foster care, refugee integration, school systems, food insecurity, addiction/recovery, poverty, healthcare and more,” explained Ungashick. In addition, Helping Mamas hosts mobile distribution events several times a month to get critical essential need items directly into communities. Its vans are often seen at schools, libraries and churches hosting distribution days. This program realizes that not all people in need are being served by one of its agencies and seeks to get essential items into those communities that lack transportation or are in a resource desert. Thus far, in 2024, Helping Mamas has distributed a whopping 3,241,424 essential items to...
Succession Planning with Yardi Aspire
For Public Housing Authorities
Public housing authorities (PHAs) across the U.S. are facing a major challenge: many of their employees are getting close to retirement. It’s estimated that over 50 percent of PHA and other public sector employees could retire within the next five years. This means PHAs need to have a plan in place to fill these upcoming vacancies with qualified people. However, it’s not easy — 79 percent of agencies cannot find qualified candidates for open positions, according to a survey by NeoGov, an HR solution provider for the public sector. Succession planning is crucial for PHAs. It’s not just about finding someone to fill a job — it’s about keeping a skilled workforce that can serve their communities effectively. A good succession plan can also lead to better employee retention and engagement. In fact, organizations with strong plans have retention rates 50 percent higher than those without them. To tackle these challenges, PHAs must ensure their staff possess the right skills and knowledge to step into leadership roles when needed. The Yardi Aspire Learning Management System (LMS) is a powerful tool that can help. Aspire delivers effective industry education, skill development and promotion preparation — helping PHAs build a strong pipeline of talent and ensuring smooth leadership transitions. Why succession planning matters Succession planning involves looking ahead and being prepared. According to the HUD Instructional Guide, succession planning helps PHAs in several key ways: Ensures long-term success: Confirms that PHAs maintain smooth service delivery, even during leadership changes. Reduces risks: Identifies important roles and prepares internal candidates when key positions become vacant. Promotes staff growth: Promotes staff development and prepares them for leadership roles, ensuring the right skills are in place. How Aspire supports succession planning Aspire offers several tools that are vital for effective succession planning, such as: Extensive catalog: Offers hundreds of short, interactive courses designed to fit within a busy workday from the LMS or on a mobile device with the Aspire App. The Aspire catalog covers a variety of training topics, including industry knowledge, fair housing and sexual harassment, safety, Yardi software, leadership, professional skills and more. PHAs can also create custom courses to ensure organization-specific learning needs are covered. Assess and develop internal talent: Evaluate your current workforce to identify high-potential employees who could fill key roles in the future with Aspire assessments. Then, map out the key skills needed for each role included in the strategic plan. Configure Aspire to automatically deliver or recommend development opportunities to equip these individuals with the necessary skills and knowledge. These include offering training, mentorship and leadership development assignments — all of which can be set up and tracked in Aspire. IMAGE: Skills assigned report shows a Seattle Housing Authority employee’s progress toward assigned skill proficiency. Custom Learning Plans: Aspire’s embedded authoring tools allow succession plan teams to create custom learning plans that align with their succession goals. These plans clarify the promotion path, which often includes a variety of tasks, learning assignments, forms and surveys and assessments to make sure employees are fully prepared for future roles. External Certifications: Aspire helps PHAs stay compliant with HUD requirements, which is especially important during leadership transitions. In addition to assigning hundreds of short, program-specific courses for Low Income Housing Tax Credit (LIHTC), Section 8, and Enterprise Income Verification (EIV), Aspire clients can upload 3rd party training (i.e., industry certifications) and schedule annual recertification. Comprehensive Reporting: Use the interactive dashboards and scheduled reports to ensure that the required skills and competencies are in place and necessary certifications are up to date. Implementing a succession plan with Aspire Identify Key Roles: Start by identifying the roles that are crucial for your PHA’s operations. Aspire can help document the responsibilities and skills needed for each role. Develop Potential Successors: Use Aspire to create and track personalized development plans for potential successors. These plans can include opportunities to earn badges and rewards, keeping...
Appreciating Gottfried Ernst
Changemakers 2024
This year’s Changemakers series is nearly coming to an end — we’ve celebrated several phenomenal honorees so far! We’re pleased to be the series’ sponsor for the sixth consecutive year, partnering with Senior Housing News (SHN) to bring you exclusive, detailed interviews that cover each leader’s story. Each honoree has brought a unique perspective to the table, sharing how they’ve grown throughout their career, navigated industry obstacles and most importantly, driven positive change. The Changemaker celebrated today is Gottfried Ernst, COO at Cogir Senior Living, one of our dedicated senior living clients. Through his interview with SHN, Ernst speaks to the value of technology, the unique ways Cogir navigates change and more. Learn from Changemaker Gottfried Ernst SHN: How have you changed as a leader since starting in the senior living industry? Ernst: When I started in this industry, I was more focused on learning and adapting to the tasks at hand. My focus was more on understanding the industry better and developing my skills to best fit. Over time, I’ve developed a deeper understanding of team dynamics, effective communication and the importance of empathy in leadership. As my leadership style matured and I became more confident, empathy and vulnerability has helped me over the years to really connect with people. I’ve learned to delegate tasks more efficiently as well. I trust my team’s expertise and provide support where needed. That has worked for me. Additionally, I’ve become more adept at navigating challenges and conflicts and finding constructive solutions that benefit both the team and the organization as a whole. I’ve evolved into a more confident and compassionate leader who strives to inspire and empower those around me. That’s what I believe and that’s what I stand for. I continuously try to improve how I can be the best leader for my team and for others. SHN: Can you provide an example of a change you’ve made in operations and why you made that change specifically? Ernst: In a former company, I changed the way we gather feedback from residents using technology. I’m a firm believer that successful businesses don’t just give a survey once a year to the customers and allow them to weigh in. I believe in continuous serving of our residents, team members and customers to be able to really get a holistic and full picture of what we can do better. That was an area that I dove into and made a change to and it worked really well. Another example is I worked on a program that allowed our Illinois customers to choose what package they would like to be part of when they move into the community, what service package they want with housekeeping and more. It was a dynamic senior housing concept where the customer is in the driver’s seat in what we offer, not us. It was not easy to execute economically, but certainly something that I’m very proud of. Then in the post-Covid era, it’s important to give team members more flexibility and truly allow them to be in control, similar to the residents. I implemented different ways of providing shifts, applying for schedules, and allowing our people to actually tell us when they can work versus the other way around. That made an impact on the retention side and certainly helped us with staffing on the clinical side as well. SHN: In your opinion, what is the single greatest driver of change in the senior living industry today? Ernst: Change in resident demand, desire, and what they’re looking for as we continue to gain occupancy, margin compression, and staff retention. Those are the three main drivers that drive change in our industry today and will continue to do so. Read Changemaker Gottfried Ernst’s entire interview Check out the full Changemaker interview with Gottfried Ernst. If you’ve followed the series since the start, we hope you learned something valuable from...
Debugging Properties
Fumigation Basics
Chances are good that you’ve seen a building encased in a swath of vinyl-coated nylon tarpaulins in residential and commercial properties. That’s a sure sign that fumigation is in progress, which means the space is being inundated with sulfuryl fluoride gas to eliminate termites, cockroaches, wood-destroying beetles and/or other destructive pests. Fumigation is a key tool for ensuring that offices, homes and other spaces are safe from pests that can erode building materials and spread disease. Fumigation is a big business in the U.S. – and a growing one. Industry revenues totaled about $26 billion in 2022 and have grown almost 9% on average each of the previous five years, according to business research firm IBISWorld. Why is it needed? Structural fumigation eliminates damaging pests that are difficult to control by other methods such as localized insecticide application. Fumigation permeates an entire structure to eliminate visible and hidden infestations. And this, along with whole-house heat treatment – which is most commonly used against bed bugs – are the only methods that will eliminate drywood termites. “When it comes to eradicating targeted pests, there are few treatment options that can compete with fumigation. It reaches where sprays, aerosols, dusts and other chemical treatments can’t. It resolves large scale issues quickly. It destroys pests in all stages of development, from eggs all the way to adult bugs. And a fumigation does not require a long process of inspection, treatment and monitoring,” according to Action Pest Control, which operates in Indiana, Kentucky and Illinois. How is fumigation done? There are two fumigation methods. One involves sealing a structure with plastic, tape or other materials, and the other requires enclosing the structure in a tent of vinyl-coated nylon tarpaulins. A fumigation can take from six hours to one...
Exploring America’s Aquariums
Aquatic Animal Care
Aquariums, often a topic of debate among some, are more than just attractions. Did you know that most aquariums are nonprofit organizations firmly committed to conservation and sustainability? This summer, let’s dive into the world of America’s top aquariums and discover the incredible work they do. Georgia Aquarium, Atlanta. This aquarium, the largest in the Western Hemisphere, is not just a home to the majestic whale sharks but also a hub of groundbreaking research. Since 2004, the aquarium has been studying whale sharks in the wild, an unparalleled research opportunity. The DNA studies conducted by scientists at the Georgia Institute of Technology, based on tissue samples collected from the animals at the aquarium, have led to the first-ever complete shark genome map. In addition to whale sharks, the Georgia Aquarium is a leader in conservation efforts for endangered species, sharing the experience and knowledge from innovative strategies to effective on-the-ground action. Former president and CEO of Georgia Aquarium, Dr. Brian Davis, said, “Georgia Aquarium has been at the forefront of aquatic science for years, making important breakthroughs for marquee marine species. Our commitment to protecting our ocean is unwavering.” Monterey Bay Aquarium, California. This gorgeous aquarium is known for its 28-foot-tall Kelp Forest, one of the tallest aquarium exhibits in the world! In addition to the Kelp Forest, Monterey Bay offers tufted puffins, sea otters, and deep-sea animals, including transparent glowing jellyfish. As far as sustainability is concerned, Monterey Bay Aquarium is committed to reducing sources of ocean plastic pollution. It practices what it preaches by ensuring all its retail operations and the products it sells align with its mission. By the end of 2024, the aquarium is working toward its apparel made from synthetic blends. Plush toys are all made with 100% recycled materials. And at the end of 2023, they eliminated 100% of hard plastic toys and gift products. National Aquarium, Baltimore. The National Aquarium attracts over 1 million visitors annually to view its more than 20,000 aquatic animals, including an interactive and fully immersive dolphin show. However, such a large, resource-heavy production takes a lot of energy. The institution has committed to reducing its greenhouse gas emission to net zero by 2035, including some activities such as tree-planting projects to help address climate change. Laura Bankey, the aquarium vice president of conservation programs, says, “We feel it’s important as a leader in the industry and as a leader in Baltimore to show people that it can be done and must be done. Going all in on climate means every decision that we make in the future has to use climate change as a filter.” Shedd Aquarium, Chicago. This aquarium aims to promote compassion for animals and conservation efforts with an up-close view of an array of aquatic animals, including giant Pacific octopuses. They also offer a conservation eco-tour in the summertime with guided kayaking outings on the Chicago River. Shedd Aquarium is also committed to supporting sustainable fisheries to benefit the ecosystem and all that rely on them. Shedd also grows organisms like zooplankton at the bottom of the food chain through a live foods program. Live foods reduce the need to source food from the ocean and decrease the packing waste and carbon footprint generated from shipping food. Shedd Aquarium just welcomed its newest baby, a Beluga whale, last month, the firstborn since 2020. Births at aquariums like Shedd provide invaluable insights for scientists and conservationists alike. Tennessee Aquarium, Chattanooga. Visitors to this top Chattanooga attraction embark on an underwater adventure from the mountains to the sea. This unique aquarium is divided into two buildings for freshwater and saltwater exhibits. The aquarium conducts several scientific studies by restoring the region’s natural ecosystems and educating the public to take conservation action. With its riverfront facility, the aquarium is growing its capacity to actively protect the health of the river water and the fantastic, diverse animals. A...
Creating Safe Spaces
Partnership Against Domestic Violence
PADV is the largest nonprofit domestic violence organization in Georgia, providing professional, compassionate, and empowering support to survivors of domestic violence and their children. Yardi-supported nonprofit Partnership Against Domestic Violence (PADV), established in 1975 PADV, is working to end the crime of domestic violence and empower its survivors in the Atlanta metroplex. “Our vision is a community free of domestic violence,” said Navvab McDaniels, grants facilitator for PADV. PADV works to educate the public on the dynamics of domestic violence, promote healthy dating relationships to prevent future violence, offer safety and shelter to those affected by domestic violence, and restore power, self-sufficiency and control to them. PADV provides services to those affected by domestic violence with a 24-hour crisis line, two 24-hour emergency shelters, legal advocacy, supportive housing, a dating violence prevention program, outreach programs, workshops on the effects of domestic violence and community education and training. “Annually, we serve 15,000 individuals and reach more than 35,000 with our message of ending domestic violence,” shared McDaniels. PADV plans to relocate its Fulton County emergency shelter for survivors of domestic violence and their children to a beautiful new property that is part of its $6 million capital campaign. Additionally, PADV will expand counseling services to ensure a thorough level of wrap-around services to all affected by domestic violence at any age or stage in life. PADV also plans to increase its housing units for those needing shelter and help securing their apartment. “For 2025, we will be celebrating our 50th Anniversary as an organization and are looking forward to expanding our reach with our community partners by doing more community outreach to help more survivors who need help during such a difficult time in their life,” explained McDaniels. Funding from Yardi provides vital foundational support...
How AI is Reshaping CRE
Tech You Can Implement
AI is top of mind across the real estate industry, and the business case for AI in CRE has become clear. CRE stakeholders embracing AI’s impact on the industry are already employing data-driven approaches to decision making while leveraging AI to improve day to day operations including optimized AP processing and customer service. Following are three ways AI is revolutionizing CRE with tech you can implement now. Chatbots A chatbot is any software solution that simulates conversation using natural language through text or voice interaction. OpenAI’s ChatGPT, Google’s Gemini, Meta’s Llama and Anthropic’s Claude are examples of large language models (LLMs), which draw on vast amounts of data to predict the next word and answer a question or suggest a solution to a problem. Common uses for ChatGPT include writing emails, proofreading and other everyday tasks. Businesses are employing chatbots most often for customer service. In the multifamily sector, owners are using this type of AI to respond to resident questions and maintenance requests, as well as to provide prospects with information about properties. Research shows that a smart chatbot can significantly reduce the number of days it takes to convert a lead to a lease. With regard to saving staff time and optimizing efficiency for maintenance processes, during a call to report a clogged sink, for example, a chatbot can take the resident through steps to resolve the problem before issuing a maintenance request or connecting them with a property team member. Managers at office, retail and industrial properties can use ChatGPT in similar ways. Yardi employs ChatGPT in its natural language processing solution to improve the accuracy of its responses to client questions. Yardi’s chatbot now resolves 80 percent of inquiries that previously required the attention of a customer service representative. As a result, team members are freed up to tackle requests and issues where solutions aren’t readily available and more expertise is required. Web content solutions A widespread lack of website compliance with the Americans with Disabilities Act (ADA) touched off a wave of federal legal challenges beginning in 2018. By creating environments where website users can participate equally, operators can avoid this legal risk and foster seamless interaction with digital content. In recent years, emerging AI platforms in web development have begun to provide solutions to address ADA compliance issues, according to Equally AI, a developer of website accessibility software. Screen readers and natural language processing can analyze and interpret web content, providing auditory cues to assist users with visual impairments, for example, while conversational AI speech recognition capabilities allow users with mobility impairments to interact with websites through voice commands. AI-powered captions and transcriptions provide similar benefits to those with hearing problems. Other solutions include AI-driven interface enhancements such as adaptive design and intelligent navigation, which can adapt websites based on user preferences and behaviors. Machine learning In recent years, Yardi employed a full-service invoice processing center for 60 million annual client invoices, where teams would manually scan, key and code invoices into client environments. This would then initiate the workflow for invoice approval. But over the last three years, the company has migrated that activity to machine learning. Vendor names, invoice numbers and line item details are now encoded into the accounting systems for fully automated processing. Employing machine learning to this tedious, time-consuming task has not only improved accuracy but has also produced cost savings, which Yardi is passing onto clients. “These are very simple tasks, but the machines need a lot of data and experience to achieve a high level of accuracy,” said Brian Sutherland, a Yardi vice president. “We certainly have that data at scale.” Similar endeavors Yardi is working on include a lease extraction solution. That will pair machine learning with a chatbot to identify, collect and organize lease expiration dates, rent step-ups, options and other pertinent information that is typically buried in dense contract verbiage, making it difficult...
Karen Maehara
Yardi Employee Profile
Yardi’s global offices make essential contributions to property management and investors worldwide. Today, meet Karen Maehara, senior technical account manager for the commercial Santa Barbara team. Maehara has been working at Yardi for nearly six years. She supports some of Yardi’s largest, most strategic clients daily and supports colleagues throughout her department. Maehara spends most of her time in the office troubleshooting client cases and working on client projects. “I love mentoring colleagues and working on internal or other non-client initiatives. I recently helped put on our second internal Commercial summit for the West Coast,” explained Maehara. Maehara feels collaboration and relationships with colleagues and clients are the best part of working at Yardi. Some of Maehara’s favorite interactions at Yardi are from talking about anime with clients to discussing cool hobbies or activities like escape rooms in team meetings. Even a simple run-in at the office with people she hasn’t worked with or seen in a while is enjoyable. The “let me see if I can help” attitude that everyone has (including herself) is what works for Yardi’s corporate culture. Everyone is always trying to help where they can, even if they don’t have an immediate or direct answer. “Receiving that kind of warm support and being able to give it back to others is a wonderful place to be,” said Maehara. YASC Spokesperson Maehara has accomplished many things over the years at Yardi, but her most cherished project was presenting at YASC San Diego for Yardi Spreadsheet Reporting (YSR). “The guru of YSRs had retired, and other prior YSR presenters had left too, and with only a couple months to go, management asked if Sarvagya Madan (one of the BEST people at Yardi) and I could take on the task,” Maehara stated....
Power Your Communities with Yardi
Read The Infographic
It’s time to overcome the limitations and inefficiencies of disparate systems. Life plan communities (LPCs) or continuing care retirement communities (CCRCs) can do so with the Yardi Senior Living Suite, our fully integrated solution that unites community management, finance, marketing, business intelligence, resident care and more on a single platform. As a leading tech solution in the industry (with 40+ years of experience and Forbes Cloud 100 recognition), the Senior Living Suite offers everything your communities need to unify operations, increase occupancy and most importantly, deliver the highest quality care. We put together a quick, informative infographic to show you how it works: Create a foundation for success with integrated senior living software Explore the Yardi Senior Living Suite Not every software solution is efficient. To meet the unique demands of your communities, you need a full suite of tools that are mobile, intuitive and efficient. Our single connected solution checks every box and helps you lower your total operating cost, eliminate duplicate data entry and enable a seamless transfer of information between operational divisions. Unlock functionality built for LPCs and CCRCs Help residents age in place as they progress through multiple lines of service including independent living, assisted living, memory care and skilled nursing. Ensure consistency and accuracy with centralized resident profiles, starting at the prospect stage. Eliminate siloed data and the need to re-enter information during move-ins and care-level transfers. Provide a continuum of care — at varying levels — on a permanent or temporary basis as resident needs change. Streamline pre-move-in and ongoing assessments, the clinical intake process, medication management, incident tracking and behavior management across all care levels. Help residents live their best lives with care-level-specific wellness and engagement tools. Maximize financial reconciliations with a built-in general ledger accounting system that offers real-time reporting and transaction-level drilldowns. Track entrance fees and streamline the monthly amortization process for A, B and C contracts. Customize and scale your software build to fit the unique requirements of your communities. Start with Voyager Senior Housing, the cornerstone product required, then add additional solutions across the Yardi Senior Living Suite to meet your needs. Learn more from team Yardi Want the full scoop on how our technology supports senior living communities? Continue exploring the infographic then reach out to book time with our...
From Setbacks to Success
Navigating Office Politics
Miscommunication is common in many workplaces and can negatively impact productivity and relationships. Let’s navigate office politics and miscommunications with these best practices and learn how to boost office morale by turning setbacks into success. Common causes of miscommunication are lack of clarity in messages, assumptions, generational or cultural differences and ineffective listening. All of which will inevitably lead to negative office politics, potentially impacting workplace harmony and career progression. Ineffective workplace communication costs U.S. businesses $1.2 trillion—or $12,506 per employee annually, according to a report by Grammarly. Improve communication skills by actively listening without interruptions, summarizing what the other person said, and asking clarifying questions. For instance, if unsure about a task, ask, “Could you clarify the deadline for this project?” Don’t be scared to ask questions because the more knowledge on the subject at hand, the better the outcome. Always have clear and concise messages using straightforward language, avoiding jargon and always being specific. For example, many use Microsoft TEAMS or Google Slack to communicate with employees. Both are great programs that keep everyone on the same page. Remember, when messaging someone on one of those programs, do not lead with a simple hey and nothing attached. Most people are very busy and don’t have time for ineffective TEAMS/Slack messages. In the office, pay attention to nonverbal communication, such as body language, facial expressions and tone of voice. Sometimes it is not “what” the person said, but “how,” they said it. Regular feedback and check-ins with the team are not just essential. They are the lifeline to keeping a straightforward schedule and avoiding miscommunication. Schedule regular, one-on-one meetings to ensure alignment and address communication issues early. This proactive approach will prevent misunderstandings and foster a culture of open communication and mutual support. Build positive and authentic relationships. Unfortunately, office politics is all too real. To navigate this, build positive and genuine connections with colleagues across different departments and levels. Stay professionally neutral, and avoid taking sides at all costs. Advocate for transparent decision-making processes and fair treatment of all employees. Dorie Clark, professor of business administration and published author on LinkedIn, says, “Create goodwill with colleagues by adding value through small gestures, sending a congratulations note, inviting them to an event and assisting with social media. It’s not about lavishing someone with expensive gifts. It’s about knowing what they’d value and trying your best to make a gracious gesture.” Be diplomatic in communication, especially in sensitive situations, to avoid unnecessary conflicts of interest. Clark noted, “When it comes to office politics, some may think you have to be a cutthroat operator, but really, it’s about forging real connections and creating space to be yourself and help others do the same.” Zoom and video conferencing can sometimes make it hard to read the other person. However, according to the Forbes Human Resource Council, “Follow up after a meeting, ask more questions and give the benefit of the doubt. Everyone is going through their own set of challenges, so exert your kindness muscle. If you’ve seen some unusual office politics, take the high road. You want to be remembered as someone who leads with integrity.” By handling office politics with integrity, individuals will have respect and will focus on their professional growth and contributions. Boost office morale. Foster an environment where all employees feel valued and included. Encourage work-life balance with flexible work hours, remote options, and respect for personal time. Provide a healthy, comfortable work environment with amenities like ergonomic furniture, healthy snacks, and wellness programs. Organize some team-building activities to encourage teamwork and build strong relationships. For instance, since the Summer Olympics has kicked off, enjoy a week of office Olympics with physical and mental activities and host a small opening/closing ceremony—craft awards and medals unique to the office with the company’s logo. The Games will be sure to improve collaboration and promote unity. Mistakes happen. After all,...