The industry is flooded with sustainable technologies. There are a variety of considerations to make when selecting the best solution for your organization. The experts at the 2019 PM SpringFest tackled the topic, helping attendees focus on what matters most. The session PropTech: Technology Challenging the Status Quo explored beneficial technologies that transform conventional properties into sustainable, energy efficient, safe and high-performing assets while delivering notable ROI. Session speakers included Phillip Raffi, national energy and sustainability manager with Colliers International; Matthew Lennan, innovator in residence at Oxford Properties Group; and Thano Lambrinos, vice president, smart building technology, digital innovation at QuadReal Property Group. Peter Altobelli, vice president and general manager of Yardi Canada, moderated the panel. Altobelli began by asking: “What elements are important to look at as a foundation before you think about more advanced energy operational efficiencies?” Lambrinos encouraged organizations to have a designated sustainability tech expert on staff. “You won’t realize potential if it is a pet project,” he said. The second step is to invest wisely. “Look at creating an innovation slush fund. Our CEO encourages us to fail but fail fast,” he smiled. “The tech may not even have a business case or ROI yet, so test it out.” In absence of such resources, Lambrinos suggested aligning with an agnostic consultant. Lennan emphasized the importance of team collaboration and transparency between senior management, IT, and OT. Each entity must be aware of implementation timelines and risks at both local and corporate levels. Altobelli also asked the panel to address the challenges faced in their endeavors and what valuable lessons they’ve learned in the process of working through them. Raffi advised, “We get inundated with people who have ‘the best tech.’ Filter through it. If it sounds too good to...

Associate technical account manager Thomas Barker is a talented distance runner who competed in college and has coached All American runners. He’s also running his first full marathon at the New York City Marathon this fall. But Barker is not just a runner who is concerned with his own race results and training plans. He’s actively involved in the Atlanta running community as the president of the local Front Runners chapter. Front Runners is an international organization that promotes running, walking and related athletic activities for gays, lesbians, bisexuals, transgenders and their supporters. “In Atlanta, Front Runners has been an active running group for 29 years. It’s a great way for new runners to get introduced to the sport, and a healthy environment for the LGBT community to gather that’s not in a bar environment,” Barker explained. The chapter produces an annual running event, the Atlanta Pride Run, which will take place this year on June 15. Yardi is the Pride Run’s title corporate sponsor this year. Many other local businesses are assisting with fundraising to support the run and its cause, including local restaurants and bars. “June 2019 is the 50th anniversary of the Stonewall Riots in New York City, which really kicked off the civil rights movement for the LGBT community,” Barker said. “It brought international awareness to the gay rights movement in the U.S. and worldwide.  The first Pride parade in New York City was held on the anniversary of the riots, and now Pride is celebrated every year around the world.” Yardi employees will participate in the run, which is a fundraiser for the Atlanta non-profit Joining Hearts. The mission of Joining Hearts is to raise awareness, and funds to support prevention, care, and housing assistance to those impacted by...

What’s new in the U.S. office market? Lots, according to a new report from Yardi Matrix. In summarizing the sector’s performance in the first quarter of 2019, the report notes that: Robust supply absorption produced a 1% increase in asking rents. Nearly 9 million square feet of office space came online through February, 7.9 million square feet of which was Class A. The national vacancy rate remained at 13.7%. San Francisco and parts of New York City led the asking rent increases, with changes in most metros being fairly minor. Only $13.3 billion dollars’ worth of deals were closed in the quarter, the lowest quarterly total since 2013. Seasonality, a carryover from fourth quarter capital market volatility and the federal government shutdown all contributed to the sales slowdown. About 174.3 million square feet of office space was under construction as of March, with Manhattan, N.Y., and San Francisco having the most with 23 million square feet and 11 million square feet, respectively. There’s much more insight in the full Yardi Matrix national office...

Growth can be a mixed blessing. San Diego-based MG Properties Group, for one, certainly didn’t mind significantly expanding its portfolio of properties in California, Arizona, Nevada, Washington and Oregon. But by 2015, the company’s investment management technology couldn’t keep pace, and the company, which acquires, rehabilitates and manages apartment communities, was approaching a stark choice: Modernize or risk stagnation. Cramped by Spreadsheets The spreadsheet programs MG Properties used for investment calculations and investor reporting couldn’t keep up with the rising volume of work. A single report often contained up to 450 tabs, for example. “When we loaded a number and hit “Enter,’ we crossed our fingers and hoped the whole system didn’t crash,” recalls Joe Anfuso, the company’s chief financial officer. “The old method was stressful, error-prone and hindered our performance.” It became clear to him and other executives that the company needed a modern, professional investment management software platform, one capable of automatically capturing and distributing all relevant investment information. Anfuso and his colleagues also realized that if they wanted to compete with the major players—the big institutional investors—they needed to invest in technology that removed pain points, time and effort and enabled more efficient operation. “That’s when we decided to ditch our spreadsheets for a more modern solution,” Anfuso says. A Single Connected Solution That solution, adopted in July 2015, was Yardi Investment Management, which automated MG Properties’ asset, investment accounting and investment lifecycle. The system helps MG Properties track not just the movement of dollars, but the result of the investment they represent, from the moment an investor makes a commitment. MG Properties grew its investor base by 150%, its properties by 24% and its units by 50% without needing additional staff or expenditures to manage them. The quarterly distribution process...

Food insecurity affects one in every six seniors in Idaho. This vulnerable population relies on local aid to stay healthy. Yardi Boise teamed up with Metro Meals on Wheels and the community of Treasure Valley to combat hunger among seniors. Meals on Wheels In America, more than 9 million elderly adults struggle with food insecurity. About 6.9 million seniors live in poverty with incomes of less than $228 each week. About one in every four seniors lives alone with one in five reporting feelings of loneliness. When seniors lack adequate nutrition and face loneliness, their mental and physical health suffer. Meals on Wheels is a federally supported organization that combats hunger and loneliness. Its volunteers deliver life-saving to 2.4 million seniors nationwide. The capstone service is meal delivery, in which seniors and other people with limited mobility receive fresh food delivered to their doors. Volunteers deliver 225 million meals each year. During deliveries, Meals on Wheels also conducts welfare checks. Representatives asses seniors’ personal wellbeing and living conditions. Through these services, seniors are better able to remain independent while maintaining a healthy lifestyle. Meals on Wheels has also expanded its services to house pets. Seniors that struggle to feed themselves often lack the means to feed their furry friends. Supporters can make donations towards pet food so that no one is hungry or alone. The local chapter, Metro Meals on Wheels, addresses the needs of seniors in metropolitan Boise. Volunteers assist approximately 1,000 seniors every weekday and 700 seniors on weekends. Although Meals on Wheels receives federal support, it is severely underfunded. More than 80 percent of low-income and food insecure seniors do not receive the home delivered meals that they need. To raise money, Metro Meals on Wheels partnered with Blue Cross of...

With the excitement of spring and summer holidays ahead, most of us have in mind that the key to a great vacation is careful planning, research and a clear idea of where you want to go. Lifting a real estate company out of individual spreadsheets and into collaborative systems is a very different kind of adventure, but mapping out the steps in the process and knowing what results you need are no less critical to having a successful experience. Going Digital Without Hiring Engineers Many real estate companies in Asia Pacific, and elsewhere globally, are starting their journey toward mining the data from their team activities and customer experience with systems that look much the same as what they had been using in the 1990s. This can put property firms at a disadvantage as they expand into new markets or try to ramp up growth. With online analytics now common in finance, ecommerce and other firms, more real estate companies are looking for ways to get accurate, real time data on their businesses, but get put off by the challenge of adopting new systems, Bernie Devine, regional director for Asia at Yardi, explains. “Our message for them is that the benefits are worth the pain, and there really isn’t that much pain anymore.” Devine indicates that that while systems like Yardi’s, which allow real estate firms to manage their leasing, track building maintenance and link their financial reporting directly to the front end of their businesses, are built by teams of programmers, implementing them does not require technical knowledge. “The key to getting your business online is having a clear understanding of how each step of each process works and being able to map those steps out,” Devine said. After having helped scores of...

Yardi is again the title sponsor of the upcoming Miles for Moms 5K, a fun run and walk on Mothr’s Day weekend that will benefit Goleta Valley Cottage Hospital. The run will take place on Saturday, May 11, the day before Mother’s Day. Participants are encouraged to walk with or in honor of mothers by Cottage Hospital organizers. The route of the 5K will be familiar to many lunchtime joggers at Yardi’s corporate headquarters. Beginning at the Goleta Valley Cottage Hospital parking lot at 351 S. Patterson Ave., the 5K route will travel south on Patterson and onto the Atascadero Creek Trail (Obern Trail). The route will turn back at Highway 217 and return to the hospital. A fun run for kids will also be part of the morning events, and registration is free for kids under 12. Prizes will be awarded to the top fundraiser, as well as first place prizes to female and male runners. All moms participating in the event will receive a special gift and various raffle prizes will be given away. A DJ will play music for the entire duration of the event. To register, visit the event registration site. Watch a recap video from the inaugural 2018...

Since 1970, Earth Day has served as a reminder to honor our beautiful, fragile, and generous planet. What started as a single day is now a week-long observance! Below, you will find ideas for Earth Day programming that build loyalty and community among your staff. Yardi Atlanta even offers a full week of fun, informative activities that you can adapt to your site.    Build loyalty Employees favor eco-friendly workplaces over traditional models. Millennials in particular desire workplaces that “improve society.” When working for an earth conscious employer, employees report a heightened sense of well being and purpose. Sustainability measures are popular tools to attract and maintain talent. Use Earth Week to highlight your existing green efforts or jumpstart new programs at your organization. In the process, you will build loyalty amongst employees and position your brand well with prospective new hires. Explore an office-wide celebration If a week of earth-friendly activities seems overwhelming, take heart. You don’t have to go in alone. Yardi Atlanta, for example, collaborates with local businesses to get employees involved in Earth Week. Its programming piques employee interest in sustainability while encouraging workplace satisfaction. Starting April 22, Yardi Atlanta will host fun and informative daily activities. Sustainability Within Atlanta Yardi (SWAY) teamed up with Yardi client and property management company, Cushman & Wakefield, to host these events: On Monday, Yardi corporate sponsors a healthy breakfast for staff. Selected foods will emphasize the role sustainable farming practices play in overall environmental health. Tuesday emphasizes sustainable transportation. A representative from the Georgia Power Electronic Vehicle Program will facilitate a session on EV car chargers and rebates. Guests are also invited to a car show with contributions by local dealers. Tesla, Porche, Land Rover, Jaguar, Nissan, and BMW will have cars and...

When you think about your senior residents and their families, do you think of words like “tech savvy,” and “forward thinking?” You should. Breck Austin, VP of operational services with Clearwater Living of Newport Beach, understands the importance of exceeding clients’ growing tech expectations. His organization has identified software that allows the company to advance with the times. We sat down with Austin to learn how the organization uses RENTCafé and Senior CRM to make life easier for residents and staff. Q: What are one or two business objectives you’ve been addressing over the last year? A: At Clearwater Living, our objective is to enhance residents’ experience in the senior platform. So one of the things we look at is technology. We look at how do we make ourselves more relevant? How do we make the residents’ experience relevant? We use a variety of things that we are addressing, from technology down to our philosophy of care. Q: How did Yardi technology help you accomplish this? A: Yardi technology was the best thing that ever happened to us in a growing state. It provided one single integrated platform that allowed us to address the growing need of the family’s involvement and their need to know what’s going on, transparency, to our consumers. So, it’s no longer just a resident living in our community. We’re addressing the family members or those that are responsible for members of our communities. The ability to communicate with them through technology, Yardi provided that outlet for us. And it’s integrated so that it addresses all areas of our touch points and building on the connections with our residents. Q: What Yardi products have been most transformative for you and why? A: Two products that have been transformative to the...

What if there was a conference that offered answers to some of your most pressing property management problems? What if you could connect with other industry members and brainstorm solutions to emerging issues? You can do both at LeadingAge Texas in Austin, set for May 19-22. LeadingAge Texas annual conference guides not-for-profit members in their efforts to better serve seniors through advocacy, networking, services and education. This year promises to be better than ever! LeadingAge celebrates its 60th anniversary with a four-day conference packed with more than 45 sessions. Join 400 aging services professionals as you acquire the latest best practices and get real solutions to challenges that you face. Learn from your peers as well as session leaders. The agenda offers a variety of insightful courses and activities. Session topics include clinical excellence, operational success, policy, regulations and finance, ethics and leadership. You will also discover a myriad of ways to create thriving communities and strong workforces. This year’s theme is “What If.” It will be explored through conference sessions as well as an awards ceremony, fundraiser and an attendant-driven community service project. There will be an opportunity for you to get involved! Details will be revealed at the conference. Keep the learning going in the fun atmosphere of the Expo. Enjoy food, music, drinks and entertainment while you tour the booths. There will be nearly 100 exhibitors showcasing the latest in services, products, and technology. Be sure to visit Yardi at the Expo! Stop by booth #79 to learn how software and services can improve your bottom line and quality of service. Be sure to let us know you’d like to meet...

Yardi was recently named Property Software Company of the Year award. Hosted by Arabian Business, a weekly business magazine published in Dubai, the awards recognize the most accomplished companies and senior executives from around the region. The awards ceremony took place at the Ritz Carlton, Dubai and celebrated top technology performers in the UAE. Drawn from a select group of over 600 companies and individuals, 21 awards were presented. Arabian Business covers all aspects of Middle East commerce and investment, as well as lifestyle and real estate news. Last year, Yardi was recognized by Arabian Business as the UAE’s top real estate technology provider. This second consecutive year of recognition for software excellence demonstrates how the company is expanding its role in the region’s real estate business. “Yardi has a proven track record across the Middle East for providing long-term, customer focused solutions that represent innovative use of technology across real estate sectors,” said Said Haider, Yardi’s Regional Director for Middle East, who accepted the award on the company’s behalf. “We are honoured to receive this recognition from Arabian Business.” The company also recently announced that it is helping its clients participate in the DubaiNow platform, which provides digital access to multiple government services. DubaiNow is the first unified Dubai government services app, and currently offers over 55 services from 24 government entities. The DubaiNow platform makes city services more seamless and efficient. Examples of tasks that can be accomplished via the app include utility bill pay, visa tracking, trade license renewal, car registration and much more. Yardi worked closely with its Dubai-based clients in the development and testing of the new interface. For real estate and relocation, users can perform transactions associated with moving to a new residence using the DubaiNow app. This...

It’s 2019, and safe to say that the world is fully immersed in the digital age. A recent report from Hootsuite claims that 67% of the world’s population are unique mobile users and 57% are internet users.  There are around 4.38 billion users of the web, and 95% of the population of Western Europe has internet access available. According to the “Manifest 2018 Consumer App Survey,” around 51% of respondents use apps between once and ten times a day. And as of late 2018, there were approximately 4.1 million apps available from the Google Play and Apple App Store. Consumers have now come to take it for granted that live in a fully digital world.  There is increasingly a sense of expectation, tinged by frustration, when we cannot find a digital application to accomplish a given task. The new norm is an expectation that, within a matter of seconds, we will instantly be able to access and assess millions of pieces of data on almost any topic. The Internet, the go-to source to conduct research and answer any question serious or frivolous, delivers the ability to arrange and organise our daily lives. Instantaneous research helps us with personal, informed decision-making as well as educating us and helping us make specific lifestyle choices. The list of life-altering, or some may say, life-enhancing applications are mind-blowing when put in perspective. Take travel as an example. Researching a holiday destination, finding accommodations, sourcing and booking door to door transportation, researching and building your trip itinerary, where you will visit, where you will eat and even checking out the anticipated weather conditions before you pack means you can organise the perfect trip in a short period of time from anywhere. The list of examples doesn’t end there and...

It’s no secret that high turnover rates are an industry-wide problem for property management. The revolving door leads to repetitive training and service inconsistencies. Retaining talent minimizes both problems and paves the way for success. Below are four tips for talent retention to help your affordable housing property operate smoothly. Reimagine Training When employees feel overwhelmed and under-educated, you’ve got a recipe for turnover. Minimize the risk with thorough training and easily accessible review courses. “Any organization without savvy and competent employees will face high turnover,” said Jeff Ratchford, Technical Recruiter, SHRM-CP. “Empowered engagement and buy-in starts as early in the on-boarding process as possible. Ensure that employees thoroughly understand their roles and the technology that they’re expected to use.” Online learning software enables staff to learn at their own pace. They can also review materials anytime and anywhere with internet access. Administrators gain insights from course data, which can be used to plan group reviews or acknowledge staff members that excel. Supplement online training with in-house demonstrations and hands-on opportunities. “Each new hire is different. Leadership will benefit from employee training that offers multi-faceted learning techniques,” added Ratchford. Empower Staff Empower staff to play an active role in the development of protocols. Acknowledging, addressing, and correcting current shortcoming creates a more efficient workplace. Additionally, employees remain loyal to companies that value their creativity and insights. If you don’t already have a process in place, create a space for staff to share their challenges. (It may be as simple as a custom email address.) Encourage staff to offer suggestions on how those challenges may be overcome. Review the submissions regularly. Channel the most promising proposals to the applicable leadership. Of equal importance, acknowledge each response even if it is to let the employee know...

With healthy demand almost balancing out supply, Chicago’s multifamily market seems to have left the fear of overbuilding behind, at least for now. The city has been adding jobs at a more accelerated pace—particularly in the construction, manufacturing and education and health services sectors— and has been strengthening its tech hub status, which fueled demand for housing across the metro. According to a recent Yardi Matrix multifamily report, at the end of last year, rent growth reached the highest value since 2016—2.5 percent, which, although still below the national rate, represents an achievement for the market. Growth was mainly led by suburban submarkets such as Grayslake and Chicago-Heights North, but several neighborhoods near Downtown, including Hyde Park, Bronzeville and South Shore, also recorded rent increases. Yardi client Pioneer Acquisitions is a multifamily investor with a portfolio of roughly 2,000 units in Chicago. James Peterson Jr., founder & principal, said that “the fundamentals in Hyde Park are very strong” and the neighborhood has been attracting a lot of interest from investors and residents priced out of Chicago’s core areas. Peterson reveals what other submarkets are strong for investment, the evolution of rent growth in 2019 as well as the company’s strategy for the year ahead. What are the strengths and weaknesses of Chicago’s multifamily market? Peterson: Strong demand remains one of the main strengths of Chicago’s multifamily market, particularly in Hyde Park and the far north side neighborhoods. We continue to see tenants being priced out of near north side neighborhoods and moving north, along the “L” lines, to find units that fit their budgets. One of the main weaknesses, particularly downtown, is the continuing introduction of new supply with elevated amenities and leasing incentives, which encourages tenants to trade up to newer buildings. Soaring real...

Based in the heart of Texas, Yardi client Churchill Residential is an affordable housing provider with a focus on senior housing that works to provide exceptional customer service for its residents. We recently caught up with Michelle Bless, director of accounting, to learn how the company has benefited from its use of the Yardi affordable platform and how the Walk In Payment System (WIPS) is truly a game-changer for affordable housing providers. Michelle, tell us about Churchill Residential? We were founded in 2002, and pride ourselves on developing and operating high-quality, 100% affordable housing communities, most of which are for seniors. We’ve leveraged Low Income Housing Tax Credit funds to build 17 communities and more than 2,700 units across the greater Dallas/Fort Worth area. What does Churchill do best? Customer service is at the forefront of Churchill’s mission. Our guiding principles focus on enhancing the lives of residents, onsite staff and office employees. When we see an opportunity to make a change towards improving service, we take it. What changes have you gone through recently? We’ve achieved improvements in staff efficiency and resident services by implementing the Yardi integrated software platform. That change has helped us improve performance by simplifying many processes and improving data transparency across our organization. How does having an integrated accounting software translate to happier residents? Time savings for our onsite staff definitely benefits our residents, as the staff now has more time for personal interactions every day. As far as resident-facing technology goes, electronic payment processing is a nice perk for our residents because they can log in at any time to check their up-to-date ledger. We couldn’t offer residents that type of real time information prior to adopting the Yardi integrated software platform. Churchill just went live with...

At ISS World Expo in Las Vegas this week, one of the largest conferences for self-storage professionals, Yardi Breeze Self Storage made its debut. The theme of the conference focused on perfecting the self-storage customer service experience, and Yardi’s latest product enables smaller operators of storage facilities to do just that. Yardi Breeze Self Storage is refreshingly simple software for self storage property management. It’s designed to help owners and operators with smaller portfolios increase efficiency, reduce IT headaches and save time and money. Self storage owners, investors and managers can use the innovative tools built into Yardi Breeze Self Storage to market, lease and manage their facilities from any device. These tools include: Full accounting: manage operations and financials in one place Integrated marketing: fill vacant units faster with syndicated online listings Automated reporting: generate and share financial reports via email or secure portal Online payments and maintenance: streamline collecting rent and fulfilling work orders Tenant communications: create, send and track emails and texts to renters A simple online setup process lets users start working in Yardi Breeze Self Storage right away; no lengthy implementation process is required. Unlimited live chat support is included. “Yardi Breeze Self Storage is easy to set up and simple to use. And amazing support is always there when I need it,” said Laura Van Tassel, self storage operations manager at Stuff It Storage, LLC and an early adopter of the new product. As operators’ needs expand, there is a growth path to the Yardi Self Storage Suite for larger portfolios. “Yardi now offers a range of software options for self storage businesses of all sizes. Yardi Breeze Self Storage builds on the success of our Yardi Breeze property management platform for smaller portfolios to deliver an easy...