Senior medical records hold a vast quantity of sensitive data. As care providers strive to work together on patients’ behalf, that data is circulated and altered. There is minimal accountability when changes are made. The result is a chaotic web of transactions with incomplete and often inaccurate information. Additionally, the ever-changing tide of medical programs and coverage criteria impedes efficiency. Blockchain has the potential to improve the handling, accuracy, and accountability of senior records. Hope for the Future, Today Blockchain may improve the accuracy and efficiency of senior data transactions. It can masterfully create configurable records of transactions and other sensitive data, bundled together under a single patient profile and secured with cryptography. When applied to provider directories, the technology can also be used to streamline the verification of benefits, eligibility, and legal authorizations. Currently, senior care providers have difficulty verifying benefits and confirming medical eligibility. The information needed is stored in directories that are regularly amended, lack cohesion and are sometimes riddles with redundancies. In its flawed state, maintaining the current provider directories costs about $2.1 billion each year. When all the necessary data is updated and stored in a single location, caregivers are empowered to make better decisions, faster. Blockchain could revolutionize healthcare by creating an efficient system that is also secure, conforming to antitrust and privacy laws. That efficiency could lead to a lower cost of care. Obstacles to Overcome Blockchain technology is already in use at financial institutions and major corporations worldwide. In its current applications, blockchain successfully improves data-sharing between providers and payers. But before the technology is widely accepted, its advocates must overcome obstacles to blockchain adaption. Trust is a major hurdle. For many, blockchain still feels too new to be trusted. PricewaterhouseCoopers (PwC) surveyed 600 tech executives...

This is the last year that businesses are eligible for the 30 percent federal investment tax credit (ITC) for solar—sort of. A few simple steps can position businesses take advantage of the solar ITC before step downs begin next year. The Tax Benefit Step Down Tax benefits have motivated sustainable upgrades over the past ten years. The 30 percent ITC was the most popular. The ITC “provides owners of solar systems with the ability to offset tax payments owed to the IRS in an amount equal to 30 percent of the eligible cost basis of a solar photovoltaic system,” summarizes Smart Energy Decisions. Beginning in 2020, however, the tax benefit will gradually decrease. The first step decline is to 26 percent for projects that “begin construction” in 2020. In 2021, the benefit declines to 22 percent. All projects starting in or after 2022 receive only 10 percent. “The good news is that there is currently a 30 percent ITC for the cost of the system for those installing solar before December 31st, 2019,” emphasized Ray Segars, CEM, consultant for energy and sustainability on Yardi’s energy team. He added, “The emphasis is on credit. This is a credit not a tax deduction. Tax deductions reduce taxable income, thus reducing associated taxes. Tax credits are more valuable because they reduce the actual tax bill dollar for dollar.” Gaining the Advantage on the Solar ITC Notice 2018-59 details strategies to help corporations navigate the step downs with financial finesse. Firstly, “beginning construction” is a surprisingly loose term.  There are two ways that a project may begin and still qualify for the year’s tax benefit. The Physical Work Test entails beginning physical work on your solar project The Five Percent Test entails paying or incurring 5 percent or...

Our latest Yardi leadership series profile comes from Amsterdam, which is home for Richard Gerritsen, Yardi’s regional director for Europe. He gave us an update on Yardi’s presence and progress in the region. Q: Richard, what is Yardi’s presence in Europe? A: We started with offices in London and Amsterdam in 2002 and now serve clients on the European continent who hold properties in 26 countries—from Norway to Spain, and as far east as Poland and Romania. We subsequently added offices in Mainz, Germany, and Cluj, Romania. Q: What are some key characteristics of the European real estate market? A: Property management has a distinct international component here: A portfolio might be owned in one country, operate in another country and report to investors in yet another one, or more. Each party most likely has its own currency and tax requirements. Even many locally focused property managers are increasingly serving clients from the U.S. and Asia. They all need a sophisticated software platform to provide a high level of efficiency, transparency and compliance for their clients, which is why Yardi Investment Management accounts for a sizeable portion of our sales on the continent. Being able to report on multinational holdings from one platform is a huge advantage. Q: So investment management is the primary focus? A: Yardi is heavily focused on asset and fund management in Europe because so many holdings are multinational. Our property management client base is smaller than Yardi’s share in the U.S., but we are well established among European commercial property managers and we anticipate some of our strongest growth to come from the residential market. Q: What has been key to Yardi’s growth and prominence in the market? A: We provide technology and support to meet the international requirements...

How do you create a better online experience for prospects and residents? Just ask the dynamic marketing duo at The Excelsior Group (TEG). Meet Brenda Studt, vice president of marketing, and Shelly Steitz, marketing manager. Together with their team and tools from the RENTCafé Suite, they’re transforming the online renter experience to better match the expectations of today’s digitally savvy consumers. When Brenda and Shelly visited the Yardi studio recently to film their Real Estate Questions Answered videos, we chatted about marketing, websites and themselves. Keep reading to find out what you can do to make your sites more appealing to people who are searching for a place to call home. Q: How does marketing work at TEG? Brenda: TEG is a group of real estate related businesses operating on a unified platform. Shelly and I work for TEG’s Creative Studio. We’re an in-house, full-service creative and marketing agency offering a variety of creative solutions specifically designed for real estate related clients. We focus our marketing strategy around client goals and consider owner goals and expectations for specific assets. Our largest client is TEG’s multifamily business. Shelly manages all marketing activity for this client and works with their property management and development teams daily to develop and execute annual plans for each property across the portfolio. Q: How do you make sure your property marketing websites engage and convert prospects? Shelly: We create engaging websites through strong visual storytelling. We take a “show, don’t tell” approach and that includes 360 tours, high quality amenity photos and vibrant gallery pages. And then we give the prospect as many ways to engage with that content as possible. Brenda: Using RENTCafé has been great for our clients. We’re able to understand user patterns and user experience better...

According to the European Commission, after 2020 over 90 percent of jobs will require digital skills. Moreover, 65 percent of children entering primary school today will work in jobs that don’t yet exist. To develop their skills for these future occupations, the next generation needs to start preparing as early as possible. Yardi Cluj teamed up with Dalia’s Book, non-governmental organization (NGO), to host Adopt-a-School!, an educational program that teaches coding skills to tomorrow’s programmers, engineers, support specialists and project managers. Yardi Cluj + Adopt-a-School! In 2016, Dalia’s Book set out on an ambitious mission to prepare Romania’s youth for future employment in the tech industry. The organization launched Adopt-a-School!, which pairs schools with local ITC companies like Yardi. In February of 2019, Yardi Cluj employees joined the Adopt-a-School! league of volunteers. About 30 employees offered to host weekly coding sessions at a local high school, teaching coding skills to three fourth grade classes. “I decided to volunteer because all future jobs will require a little bit of coding knowledge,” explained Emil Antoni, real estate market analyst at Yardi. “The easiest being Excel and the most complicated being in the field of DNA. Youth need to be prepared.” “I don’t think it’s essential for children to learn code,” said fellow volunteer Andreea Hosu, technical project leader at Yardi. “But I do believe this is that kind of activity that will open many opportunities in their lives. The children learn basic programming, and the funny thing is that they don’t even realize they’re learning something, because they think they are playing.” Many of the Yardi Cluj volunteers had not worked in education before. They approached the project with a blend of excitement, nervousness, and determination. “This was a first for me, so naturally, I was...

A new national office property report from Yardi Matrix shows that asking rents rose by 1.1% in April 2019 over the previous three month period while robust absorption of new supply kept the vacancy rate unchanged at 13.7%. Office rents’ strength across the U.S. reflects “the continued health of the economy and the growth of the technology, health care and coworking segments,” according to the report. Nineteen of the 25 major markets covered in the report saw gains in asking rents over the past three months. Rent growth was strongest in markets with a healthy dose of “new economy” and technology tenants such as Austin, Texas, Brooklyn, N.Y., San Francisco and the surrounding Bay Area, along with Tampa, Fla., and Nashville, Tenn. Only Chicago and Seattle saw declines of more than 1%. About 14.4 million square feet of office space came online through April, with Class A space accounting for about 90% of the total. Properties under construction represent a 2.9% growth of total inventory. “While it is early in the year and we expect the pace of deliveries to step up later in the year, so far in 2019 suburban construction has outpaced that in central business districts compared to last year,” the report says. Asking rents stood at $36.40 per square foot nationally in April. The vacancy rate was unchanged at 13.7%. Office property transactions valued at $19.8 billion closed in the first four months of the year. Want more insight? View the full Yardi Matrix national office report for May...

Yardi subsidiary PropertyShark was recently featured in the Queens Courier, one of New York City’s prominent real estate publications.  Vince Soriero, Business Development Manager for PropertyShark, has been a passionate advocate for the brand for the last seven years and was interviewed about the company and its valuable services for real estate professionals. Yardi acquired PropertyShark in 2010 and since then the platform has become the go-to destination for comprehensive residential and commercial real estate sales data in the New York City with a National presence. The PropertyShark site helps real estate brokers and agents streamline the information-finding process.  They can research property characteristic, sales comps, contact information, foreclosures, FAR, zoning, property taxes, mailing lists and more, all in one place. “We aggregate our data from hundreds of public resources updating our data and feeds nightly, providing our subscribers with a single definitive source for property information.  Without PropertyShark, users must search multiple websites to find these details,” Soriero explained in the interview. “We’ve done an amazing job at developing the most robust platform on the market,” he added.  “We’ve also worked hard to establish a strong presence in the New York City market.  PropertyShark is very well known here.” More than 15,000 real estate professionals make use of the PropertyShark platform.  In addition to brokers and agents, clients include investors, developers, banks, lenders, insurance companies, appraisers and more. A great new feature that will attract even more users is the recently added Platinum Real Owners. “With this new feature, PropertyShark users can instantly find the true owners names behind LLC’s, other properties they own, and phone numbers. This saves hours, if not days, searching through multiple websites to find such information.  It has an upgraded cost, but our users say it’s absolutely worth...

The Centers for Medicare and Medicaid Services (CMS) may soon change the way that payments are allotted. The organization hopes that the new payment structure will reflect its renewed commitment to quality care. Rewarding Performance In the past, facilities received payments based on the total cost of care provided. The new case-mix CMS model directs Medicare payments to facilities based on the patient’s condition and treatment. A recent proposal could increase payments to skilled nursing facilities (SNF) by $887 million in fiscal year 2020. That’s about a 2.5 percent increase from the current fiscal year. Not all SNFs will receive the increased payments. Facilities must meet a list of requirements to receive the funds. If facilities fail to meet the new requirements, payments will be reduced by 2 percentage points. About 60 percent of the funds withheld from under performing SNFs will be upcycled as incentive payments. The caveat, however, is that under performing SNFs will be expected to improve quality of care with fewer resources. Additional Payment Increases Other areas of care may receive a noticeable uptick in payments. CMS has announced that it plans to increase payments to inpatient rehab facilities (IRF) by $195 million for federal fiscal 2020. Hospice payments may get a $540 million increase in payments, which is roughly a 3 percent boost. Like SNFs, hospice providers will be evaluated based on the services provided to patients. High-performing centers will receive the increase whereas under performing centers will get a 2-percentage point cut. Influencing Change There is still time to influence legislation. CMS encourages industry feedback on proposed rule [CMS-1718-P]. The organization will accept comments until June 18, 2019. The final proposed changes will take effect in October...

During the recent Yardi Forum for senior living and affordable housing, we sat down with Brandon Carter, director of information technology at Wallick Communities. Brandon has a wealth of knowledge about products from the Yardi Senior Living and Yardi Voyager Affordable Housing suites, and we were thrilled to speak with him in person. Wallick owns and manages affordable housing and senior living properties across the Midwest. More than 20,000 residents live in Wallick units. There are always more units on the way, as Wallick has experienced an average 23 percent growth annually. Wallick has worked with HUD tax credit programs for more than four decades, and has even been ranked first in the nation in affordable housing preservation. To put it plainly, Wallick is a big deal. Read on to learn how Yardi software helps Wallick achieve its mission. Q: Describe the value that Yardi products bring to your company? BC: Yardi has been a great partner for Wallick. Whatever the need, we can almost always find a Yardi product to help us fulfil it. We trust that Yardi is continuously working to develop new and exciting products to help us fulfil our responsibilities towards owners, staff and residents. Q: How does Yardi help to position your company for growth? BC: Having only Yardi software to manage makes Wallick extremely nimble and quickly scalable with growth. The Yardi platform allows us to focus on our associates and residents as we grow, instead of worrying about bringing on new technology. Q: What software challenges did Wallick face before adopting Yardi? BC: Before moving to Yardi, we used multiple pieces of software for our different business needs. That required us to spend additional time and resources bridging data gaps. It also created confusion for new associates...

Stress comes in different forms. The anticipation of relocating, weighing our housing options, and investing in a new lease or mortgage all lead to stress. When we’re hit with stress, we seek human interaction for help and comfort. Yet in the age of efficiency, stressed-out prospects and residents are channeled to self-service technologies like websites, apps, and robot assistants. When we fail to balance automation with the human touch, we distance ourselves from our customers and our relationships falter. Humans Prefer Humans to Close Deals Harvard Business School conducted a study on how people feel about their investment choices with and without the assistance of a human advocate. Researchers published their findings in an article in Harvard Business Review. The study reveals that, “anxious customers interacting through self-service technology feel dissatisfied with their decisions even when those decisions appear aligned with their goals. Their dissatisfaction reduced their trust in the service provider.” Researchers were able to boost investor confidence and decrease anxiety with the addition of human interaction. In some cases, the human was a peer. In other cases, the human was an investment expert. In both scenarios, “when people had the ability to connect with another person – either an expert or a peer – the deleterious effects of anxiety were offset. “ The ability to interact with a human also increases the likelihood of closing a deal. In the experiment, applicants moving forward with the deal jumped from 64 percent to 80 percent when customers receiving automated messages were also invited to interact with a human for guidance. RentCafe Connect: Streamlined Efficiency with a Human Touch As a software company, we take pride in the efficiencies that we can offer through automated services. But we also acknowledge that the human element is essential...

Since 2013, the Yardi Cleveland office has hosted an annual food drive called the “Fight Hunger Games” as part of the Greater Cleveland Food Bank’s Harvest for Hunger.  Harvest for Hunger is a collaborative effort covering services in six counties. Food collected and funds raised make it possible to provide nutritious meals to local residents in need. For those struggling to make ends meet, the burden of hunger can be a difficult distraction at all times of year – not just the Thanksgiving to Christmas season, when much attention is focused on food charities. Hardworking families and seniors on fixed incomes across Northeast Ohio face tough choices – put food on the table or pay for other basic essentials such as medicine, utilities or transportation. One in five children in the greater Cleveland area is food insecure.  Yardi’s Cleveland office knew they could help make a difference through the Fight Hunger Games. The rules of the Games are thus: Yardi-Cleveland employees are divided into Team Districts.  The teams collect food and supplies. One representative from each team is selected (or appointed as some of them have experienced) to participate in the Hunger Games. Points are awarded to the winners of the games. Points are also added to the teams according to the number of donations the team has collected. Award ribbons are presented to the top three teams. There  a snack system to collect money to purchase donations for the Greater Cleveland Food Bank. Snacks are available at each suite. They are purchased by hungry Yardi employees and all profits are used to purchase items to be donated to the Food Bank. Friendly competitions for the Hunger Games included tower building with cans of food, a guessing game to promote office name retention, ball...

If you’ve ever heard of rocker Jon Bon Jovi’s philanthropy on behalf of a Philadelphia non-profit that creates permanent housing and support resources for the city’s homeless population, that was Project HOME. The HOME stands for Housing, Opportunities, Medical and Education. It makes sense that Housing is first in the list, because many homeless advocates consider stable housing to be the most pivotal initial step to getting homeless Americans back on their feet. The organization’s mission statement: “The mission of the Project HOME community is to empower adults, children, and families to break the cycle of homelessness and poverty, to alleviate the underlying causes of poverty, and to enable all of us to attain our fullest potential as individuals and as members of the broader society. We strive to create a safe and respectful environment where we support each other in our struggles for self-esteem, recovery, and the confidence to move toward self-actualization.” It may sound ambitious, but it’s working. Project HOME just celebrated its 30th year and is on track to provide 1,000 units of affordable housing in Philadelphia within a few years. The organization is also a longtime Yardi client. We recently caught up with Patrick Farrell, Project HOME’s business/financial analyst, who is a passionate advocate for the non-profit’s use of the Yardi affordable housing platform. Farrell has worked on Project HOME’s Yardi platform for the last six years – the organization has used the software for about twice that duration. “Yardi is the workhorse application for us at Project HOME,” said Farrell, whose job supports the property, accounting and human resources departments of the non-profit. “It is the foundation of all of the other applications that we use throughout our business.” As the organization’s mainstay database, Yardi Voyager data powers all...

Looking for a senior living conference that combines the best of practical learning with exciting interactive activities? The California Assisted Living Association (CALA) 2019 Spring Conference and Trade Show is just what you’re looking for. Learn with the Industry’s Brightest The annual CALA Spring Conference and Trade Show is first and foremost an educational event. Its more than 900 attendees learn the latest in emergency preparedness, workforce development, technology, and dementia care. The conference’s theme, Elevate, encourages attendees to explore innovations in senior care. These may be new technologies or innovative approaches that make senior care safer, more efficient, and engaging. Work Hard, Play Hard But that doesn’t mean that CALA is all work and no play! There will be plenty of opportunities for attendees to socialize and get free gear. The Trade Show Breakfast is a new feature this year. In addition to a delicious meal, attendees are encouraged to forge meaningful connections with guests and vendors. Trade Show attendees are invited to visit Yardi at booth #36! After watching a brief demo, guests will also be eligible to win a portable Bose Bluetooth headphones On Tuesday, the Cocktails with a View reception provides an opportunity for conference attendees to network in a scenic environment. The event takes place at the Ferrantes Bay View Ballroom on the top floor of the Monterey Marriott. Enjoy a breathtaking panorama of the Monterey Bay will enjoying cocktails and camaraderie. The final day of the conference marks the Award Luncheon, which honors the state’s leaders, visionaries, and altruists. Awards given will include The Excellence in Service Award for Outstanding Caregiver, Team Member, Department Director, and Executive Director; and The Culinary Knockout Champion. “Yardi is proud to sponsor the CALA Awards Luncheon,” said Ray Elliott, vice president of...

With more senior living options than ever, competition is fierce for would-be residents. Communities must set themselves apart to attract customers – and the most effective way to do that is through online marketing. It might come as a surprise, but Baby Boomers spend more time on the internet than Millennials, with 31% reporting they use their laptop, tablet or phone more than 15 hours per week. So how do senior living operators get the biggest bang for their buck? The answer is simple: CRM. What is CRM, exactly, and how does it help cut through a crowded marketplace to grow occupancy? First, a definition: CRM stands for customer relationship management. It is technology used to oversee interactions with potential clients with the goal of improving relationships through use of data. CRM software captures both qualitative and quantitative data across various channels and stores it in one centralized location to paint a holistic view of prospects, surfacing insights to make strategic decisions and optimize your marketing. This increased visibility boosts the effectiveness of your outreach. And because CRM allows you to track and analyze the performance of various online marketing vehicles to see where your dollars are working hardest. you can decide which campaign types are most meaningful for your business. Here are just a few of the ways CRM helps optimize marketing spend to maximize ROI. Tailor Messaging The first step of developing an effective marketing effort is identifying your audience and what types of marketing content they respond to. CRM systems like Yardi Senior CRM allow you see prospects’ interactions and identify which channels and messages are most compelling. If consumers are ignoring display ads but opening your emails, you can dial down advertising spend and invest more resources in refining your...

Property managers using Yardi’s ScreeningWorks Pro solution have a new tool for making resident screening faster and more reliable. The Work Number® from Equifax enables instant online verification of current employment status and payroll income and eliminates reliance on applicant-provided pay stubs and federal W-2 forms. “We are very excited to join forces with Yardi to offer instant verifications to the rent community utilizing The Work Number database,” says Tom Ciulla, vice president of enterprise alliances at Equifax, which manages the nation’s largest repository of verified income and employment information. “Available for the first time in rental markets, these solutions will not only help speed up the application process, but greatly assist the consumer and property manager with each transaction.” Patrick Hennessey, vice president of resident screening for Yardi, adds, “Without online access to verified income data, property managers could spend hours tracking down current and legitimate pay stubs. The Work Number is a great service that helps ScreeningWorks Pro clients reduce fraud and speed up the approval of qualified applicants.” The Work Number database houses employment records contributed by tens of thousands of employers nationwide, including 82% of the Fortune 500, a rapidly increasing number of small and medium-size businesses (SMBs) and the majority of the federal government’s civilian employers. See how companies are finding success with ScreenWorks Pro, a comprehensive solution that includes credit reports, rental history and other publicly reportable civil or criminal records....

It’s a well known fact that the senior living industry has struggled to identify and retained talented personnel. Yardi client The Living Springs has found a way to nourish its talented employees through programs that promote personal and professional advancement. Through its efforts, the organization—and the overall industry—can cultivate a stronger support staff and enhance resident care. Creative Problem Solving Three years ago, Lisa Maynard, director of people and process at The Springs Living, noticed a trend. Employees were eager for professional advancement, mostly in the nursing field. Yet they lacked the resources to make their dreams into a reality. Simultaneously, care providers strategized ways to attract and maintain talent, often in vain. Maynard and the team at The Springs Living realized that both issues could be addressed at once: a scholarship that empowered employees to pursue higher education. Through the Team Springs Scholarship fund, the brand could build loyalty with current employees. Those same employees would gain the education needed to provide higher quality care for residents. “Generally, we find employees want to gain more knowledge with the goal to return and help out our residents in a higher-level capacity,” explained Maynard. The scholarship fund is not limited to long-term care or health care, Maynard says. But that isn’t a deterrent. “We do have a mission to change the way people, think, feel and experience working in senior living.  If we can get our younger generations to see the career opportunities, we think they will come back in some form or fashion.  Even if it is just referring us to another talented friend or family member.” The Springs Living also invented the Shine Academy. The in-house program assists with on-boarding, on the job training, and continuing education.  The Shine Academy encourages staff to...

The multifamily marketing industry recently gathered in Huntington Beach, Calif., for the 2019 Apartment Innovation and Marketing (AIM) Conference. The 2019 edition focused on digital marketing best practices and innovative technologies. Keep reading for top insights from the 2019 conference! The ever-expanding Internet of Things A second wave of connected technologies is making its way to multifamily. In fact, according to Terry Jones of tech giants Travelocity, Kayak and Wayblazer, 75 billion smart devices will be connected to the internet of things by 2025. From smart home integration and keyless entry to smart thermostats and high-speed WiFi, AIM sessions focused on the convenience and opportunity afforded by embracing IoT advances. At AIM, Yardi experts also previewed connected technology innovations coming soon to the RENTCafé Suite. “Marketers are going to need to understand technology more to be successful,” shared Ben Burns, vice president of digital strategy at Bozzuto, during a growth-focused question and answer panel. “At the end of the day, we’re providing experiences.” Is your business ready to embrace new technologies and give renters what they want? Attribution, automation and analytics New technologies appear on the market every day. But which ones made the jump from novelty to widespread adoption? The AIM Technology TrendTalk with Esther Bonardi, vice president of marketing at Yardi, explored multifamily technology trends and how smart marketers can use them to improve business outcomes. Meet the speakers: Diana Norbury, Senior Vice President of Operations, Pillar Properties Norbury spoke about utilizing benchmarking and prescriptive analytics to help drive more informed marketing decisions. At AIM, one thing was clear: data is a marketer’s best friend. Prescriptive and predictive analytics can use that data to inform your marketing strategy, improve customer experiences and, ultimately, boost conversions. “Predictive analytics allow our staff to work...