“Adversity does not build character. It reveals it.” Those words from James Lane Allen have resonated with readers for years. As we face challenges, our true nature is exposed. Yardi is proud to share the stories of several clients that have supported residents, built community and exercised leadership during this difficult time. Employee and resident support The Bridge Employee Emergency Support Initiative to Aid Employees Amidst COVID-19 details support services for team members. Bridge has offered to pay employees’ regular salary or hourly pay during their absence from work due to COVID-19 illness, self-quarantine, or to care for COVID-19-infected family members. The aid supports employees who can work remotely as well as those who cannot. This Initiative exceeds the requirements stated in The Families First Coronavirus Response Act for companies with less than 500 employees. It supplements current Bridge protocols regarding teleworking and enhances the organization’s protective measures for employees and residents. Bridge Investment Group multifamily residents are eligible for the COVID-19 Financial Hardship Assistance Program. Residents can contact property staff to negotiate a rent payment plan suitable for their financial condition. The plans may include deferrals, lease extensions, and renewal opportunities. Bridge will not pursue any evictions for the non-payment of rent during the crisis. “We do not want any resident to be concerned that they will be without a home during this pandemic,” states a recent Bridge press release. Hope through health and fitness To help residents cope with shelter in place practices, Bozzuto has introduced #BozzutoStaysHome, a virtual event series committed to bringing a sense of sanctuary to residents. “Sanctuary means many different things, but at the heart of it is a place where you feel at peace, where you can be yourself,” says Nicole J. Wells, content marketing manager, digital marketing and strategy with Bozzuto. “Prior to scheduling any activities, we first surveyed our residents to learn what topics were of true interest. Wellness and fitness were among the top areas. It’s natural that the place where you are at peace, where you can be your full self, would incorporate movement. Whether through dance, fitness or yoga, you are free to express and be,” says Wells. The #BozzutoStaysHome series emphasizes the importance of physical movement and fitness as a tool to release stress and maintain health. Sessions include yoga, functional movement, and dance resources. The multifamily housing provider also created the Flamingo 21-Day Virtual Wellness Challenge. Residents are encouraged to participate in home workouts. They can then post photos and encourage their fellow renters. Participants earn points that will be used to calculate rewards which include a party thrown by Flamingo—once shelter in place mandates are lifted– and year of free housekeeping services or personal training. In May, Bozzuto encourages residents to join A Wider Circle’s Virtual Race to End Poverty on May 16. Residents can sign up to exercise at a specific time to raise funds and awareness for A Wider Circle. The nonprofit focuses on emergency and long-term solutions for housing and food insecurity. Finding normalcy while sheltering in place Lincoln Property Company (LPC) has kept the atmosphere light by providing ways that residents can make sheltering in place feel more natural. Via social media, LPC shares content from their blog and sites such as Apartment Therapy to give residents tips on sheltering in place. Such resources include a guide to working from home, a list of the most versatile workout apps, bonding activities to do over teleconferencing apps, and quick meals for days when residents feel overloaded. The housing provider is also hosting the #LPCHomeTogether contest. Residents can submit pictures of how they’re making the most of their extended time at home. Submission ideas include pictures of DIY projects, workouts, and family games. Each week, LPC choses a winner who will receive a $50 Amazon gift card. LPC resident relief efforts include options for payment plans and other policies to lessen financial...
CSR Aids Retention
In the multifamily space
If you haven’t heard of corporate social responsibility, it’s time to start listening. What is it, and why should you care? Corporate social responsibility, CSR for short, is not just another buzz phrase in multifamily housing: it might be the key to employee retention. We met with Jen Piccotti, Chief Operating Officer at ManagInc, the industry leader in resident and employee satisfaction, retention and education to learn more. What is CSR? Jen Piccotti: Corporate social responsibility is a focus on corporate culture to improve retention, reputation, recruitment and performance. But it’s more than just volunteerism and green initiatives. CSR is rooted by three pillars: The Workplace This is a focus on providing the support and resources to employees so they can do their best work—as well as to suppliers. And that part is important because residents don’t always see a distinction between in-house maintenance staff, for instance, and the landscaping crew who’s contracted out. So it’s important to work with suppliers who are paying attention to their culture and their impact, because who you choose to work with is a representation of your brand. The Living Environment Here, we ask ourselves questions about the communities we build and manage. Are we providing everything residents want and need? How is our customer service? What do our policies and procedures look like? The Greater Good This is what most people think of when they think of CSR: it has to do with volunteerism, philanthropy, utilizing resources responsibly, and maintaining a code of ethics. What does CSR have to do with staff retention? JP: More and more prospective employees, especially Millennials who make up the largest segment of the work force, are asking questions. What kind of company is this? How do you run your business? They...
Pangea Cares
CSR in Chicago, Indy, Baltimore
When Pangea Properties first formed in 2008, the Chicago-based company established a mission to implement “service, value, and care–one resident at a time.” Since then, the REIT has transformed communities throughout Chicago, Indianapolis, and Baltimore with quality affordable housing and service programs. Chanelle Cromwell, Head of Pangea Cares, has witnessed the difference that the Pangea Cares foundation makes in communities. “We don’t just invest in buildings, we invest in the success of our communities,” says Cromwell. “Pangea is very data-centric and we use data as the engine in our decision-making process.” Data has encouraged the firm to pursue success for its communities in three sectors. Education + Technology “We provide access to education and technology to youth that helps bridge the divide that exists for many kids living in the neighborhoods that Pangea serves,” explains Cromwell. One such program is the annual Backpack Giveaway, a partnership with the Chicago Housing Authority (CHA). Pangea Cares raises the funds to buy school supplies. The organization then coordinates with CHA to purchase and assemble more than 400 backpacks. Kids ages 5-12 received backpacks stuffed with essential school supplies to help them start the year with confidence and the proper tools. This year will mark the sixth year of the Backpack Giveaway program. A newer addition to the Education and Technology program is B’more, Read More. Baltimore Walbrook Junction neighborhood, home to more than 150 kids, hosts a free library for the public. The tiny library was in need new literature for its shelves. “Pangea donated 30 books to the library, providing a fresh wealth of informative and imaginative literature for local kids,” says Cromwell. Health + Wellness Pangea Cares focuses on the health and wellness of residents by making fresh food and recreational activities available to their communities. The team has gotten quite creative in finding ways to serve members of the community. Pangea Cares collaborated with Julie Hightower of a Better Day with Julie, The Daisie Foundation and many other organizations to give moms in Chicago a free makeover. “More than 150 mothers were invited to the event, which boosted their confidence, provided much-needed networking opportunities, and provided a respite from their daily routines,” Cromwell says. For youth, the company’s Indianapolis properties hosted an ongoing summer event that provided nutritious lunches daily for children of low-income families. The kids had lunch and a movie matinee, meeting their need for nutritious nourishment and activities over the summer months. “Overall, the teams were able to provide lunches for hundreds of children!” Cromwell said. Pangea Cares partnered again with CHA and Operation Warm to ensure CHA youth were warm, healthy and ready to learn during the cooler months. The organizations distributed more than 10,000 winter coats to local youth in need. Dignity + Beautification Pangea Cares believes that a beautiful and safe neighborhood brings communities together. “We are committed to community beautification and striving to make areas we serve ones that residents and communities can be proud of,” says Cromwell. Such efforts include frequent Habitat for Humanity builds in Chicago and Indianapolis. Pangea Cares has also taken on a Play More B’more playground build project. The local non-profit works with other organizations to construct fun and accessible playgrounds in marginalized communities. “They put in some serious manpower to build a brand new playground for the children of the community,” says Cromwell. Show love for your local Pangea community by contacting the organization to volunteer or make a donation. To learn more about how other Yardi clients are Energized for Good, check out our Giving...
Growing Goodwill
Multifamily CSR, Part One
Many multifamily firms are turning to corporate social responsibility (CSR) to meet the needs of their communities beyond the walls of the homes that they develop, manage and support. CSR initiatives encompass a company’s efforts to promote positive societal, economic or environmental change. The initiatives are self-regulated, and the scope and scale of CSR programs can vary widely. The results, however, share common benefits. Four real estate firms shared their successful approaches to local and international CSR projects. Spreading local goodwill MC Residential of Arizona founded the Sharing the Good Life Foundation, the company’s non-profit, to make a positive difference in the communities where employees live, work, learn and play. Lesley Brice, President, has been involved since the nascent stages of the program. “We’ve raised hundreds of thousands of dollars over the past several years, most of which have been through payroll deductions and time off deductions or donations, as well as vendor matching activities,” Brice said. The Foundation has collected 715 volunteer hours, 42,036 employee PTO hours, and $55,617 in payroll contributions. The funds raised are directed towards local nonprofit organizations. The nonprofits are nominated by employees and selected by a peer grant committee. In recent years, MC Residential focused resources on two national organizations: Autism Speaks and the Southwest Autism Research and Resource Center (SARRC). “We found our niche in raising money for autism when we brought autism awareness to the Arizona Multihousing Association (AMA). We raised over $100,000, mostly through PTO donations. We created a program, hours4autism.com. That way, rather than reaching in their pocket, team members can donate hours of PTO time toward whatever charity we were getting behind at the time. Everyone got to participate in a little way that added up,” Brice said. MC Residential also encouraged vendor...
Multifamily Social Summit
Do Good + Build Brand Trust
As a firm believer in the value of social media for real estate businesses, Yardi returns to the Multifamily Social Media Summit in Napa this year as a key sponsor and content partner. The conference is the industry’s only event targeted for property management firms with a focus on leveraging social media and content marketing to retain and attract new residents. The event will be held at the Meritage Resort and Spa from January 31-February 2, 2018, and sessions will include a mix of business and technical topics that focus on social media implementation, measurement and return on investment. Communication That Builds Trust By now it’s no secret that if you want to be relevant, you need a social media presence — and to establish a meaningful one, you need to become a storyteller utilizing all communication channels available. Yardi is broadening its participation this year with a workshop entitled “Do Good on Social: Building Brand Trust,” about the importance of communicating corporate social responsibility initiatives and values via social media, and showing commitment to the communities you serve. Connecting with your customers on a human level can help strengthen business relationships. Your customers are no doubt immersed in social media channels for almost everything they engage in every day, from personal relationships and peer networking to business and transactional activities. Learning from social media experts outside of the real estate sector at the Summit is a unique opportunity that delivers value through practical advice that attendees can take with them. Esther Bonardi, vice president of marketing at Yardi, comments, “We consistently support this conference because we hear from accomplished social media and digital marketing practitioners from outside the apartment industry, and attendees gain actionable takeaways they can implement when they return to the office.” Expert Insights and Strategies For real estate businesses as for companies in any industry, true digital disruptors succeed by effectively using new communication technologies — and that requires insight and planning. This year’s keynote speakers will cover how to keep up with today’s consumer and what social media strategies deliver the best results. Featured speakers are James McQuivey, Vice President and Principal Analyst at Forrester, and Beverly Jackson, Vice President, Social Media and Content Strategy at MGM Resorts International. Other speakers on the agenda will cover hot topics from using Snapchat to creating video ads and mastering social media storytelling, and represent companies including HubSpot, Conversion Science, Flint Analytics, Merrick Towle Communications, Crescenzo Communications, Northstar Travel Group, and Golin NY. Get additional information on the Multifamily Social Media Summit. Learn more about Yardi’s social media and marketing tools for multifamily real...
Shaping Futures
J.B. Brown Fund
Yardi client USA Properties teamed up with Life Steps in 1996 to create the J.B. Brown Fund, a philanthropic partnership to help residents of affordable housing fulfill their academic potential, participate in sports, and overcome financial hardships. The Fund Geoffrey C. Brown, president and CEO of USA Properties Fund Inc., co-created J.B. Brown fund in honor of his father. His father established the company’s mission back in 1981. The fund is an extension of that mission. “What’s important to me is our tagline as a company: Creating Outstanding Communities,’” says Brown. “To me, an outstanding community isn’t just a pretty project with sticks and bricks. A nice community also includes the social services that we provide.” Social services at USA Properties begin with LifeSteps, a resource provider offering skills training and educational programs that empower residents. Services are extended through the J.B. Brown fund. The athletic opportunities offered through the fund are close to Brown’s heart. He participated in youth sports as a child and coached his children in youth sports for several years. “The lessons learned in youth sports are invaluable,” begins Brown. “You learn teamwork, discipline, and competition but most importantly, you learn how to lose. You learn that you can’t be afraid to fail. That might be the most valuable of all lessons.” The crown jewels of the J.B. Brown Fund are the academic scholarships, awarded to residents that strive to attend institutions of higher learning. To date, the J.B. Brown Fund has been able to fund every qualified applicant. “We want to create a mindset where people don’t think that because they grew up in affordable housing community that they can’t go to college,” explains Brown. “We’ve had a number of successful people who have gone through the whole program....
CSR, Part Two
Multifamily Does Good
Part two of a two-part feature. Read the first article. In 2014, real estate technology provider Yardi established The Yardi Foundation, which supports nonprofit organizations that are located near the company’s offices around the world. Yardi opted for a two-tier CSR model, dividing a seven-figure donation between them: one tier supports several small-scale projects. Yardi designates a sum for every office of more than 50 employees. The grants are allotted to local organizations that are nominated by employees and approved by peer committees. The second tier takes on an international challenge. Yardi launched Yardi Vasti Vikas Prakalp (YVVP) in Pune, India in 2006. It is one of Yardi’s largest CSR programs to date, providing financial support to 17 local non-governmental organizations (NGOs) and community-based organizations (CBOs). All partnering entities serve some of India’s most disadvantaged neighborhoods. Gordon Morrell, Executive Vice President, Yardi, works closely with The Yardi Foundation. “Our work there is focused within the urban poor communities that are just a short distance from the office. These projects include cleaning shared toilet blocks to improve sanitation, working in local schools and preschools, providing vocational training for young people, and funding a mobile medical unit specifically for women’s health issues. Some of the work is conducted by NGOs; in addition, Yardi has hired social workers to provide direct services in many of the areas,” Morrell said. Yardi uses multiple measures of success including impact surveys and reports directly from the NGOs and CBOs. As of 2016, YVVP provided health care services for 120,000 women and children; 500 sanitation units for poor urban communities; and career services for 1,480 teens and young adults. “We got involved in CSR because we simply wanted to give back to the communities that have supported our business and our...
