It was great to see 400+ people representing the UK’s fast-growing build to rent sector last week at the UKAA Expo 2020; the third event of its kind hosted by The UKAA. Yardi was there in full force with a team of seven passionate residential specialists, all eager to learn, network and engage with the market. Early bird catches the reverse-trade show worm For many, the day started at 10am, but for the exhibitors and operators, it was an earlier start. A conventional tradeshow concept was flipped on its head at The Reverse Tradeshow, giving exhibitors the opportunity to attend 10-minute quickfire meetings with operators. It is great to see companies like EcoWorld, Folio London, Henley Investment Management, PLATFORM_ and Packaged Living investing time into further supporting the growth of the market. Networking and more networking It was all systems go when the doors opened at 10am. The exhibition was home to suppliers from all corners of residential real estate, including PropTech companies, law firms and regulatory organisations. Market Perspectives We were keen to ask other eventgoers how they found the day and get a perspective of their understanding of the market. Justin Harley, Regional Director at Yardi interviewed Lesley Roberts, President of the UKAA and Partner & Executive Director at Allsop, who advised BTR operators to be passionate about customer service, understand the market and find good suppliers. Justin also interviewed Paul Belson, PRS & BTR Investment Consultant who recognised the increase in PropTech innovation and The UKAA’s CEO, Dave Butler, who explained the key to success is to know your customer. Click on each image to watch the full interviews.       Session Take-Aways Richard Lankshear, Innovation Manager of NHBC was first to take to stage where he gave some inspiring...

Here’s a sampling of developments to follow this year. Proptech grows . . . The use of property technology will continue to expand across all real estate sectors. “Property managers and asset managers are leaning into technical solutions for productivity enhancements and operational efficiency. They are digitizing as much information as possible, so that analytics can be applied and data shared throughout the organization,” says Emerging Trends in Real Estate 2020, the 41st annual forecast report compiled by PwC and the Urban Land Institute. “Using analytics to enhance customer experiences will define winners and losers in the coming years.” Much of the multibillion-dollar global investment in proptech “revolves around smart-home and smart-building applications aimed at energy efficiency” and enhances coworking and co-living concepts, the report says. Sensors activated by motion, voice, temperature or weight “are now part of the landscape, and will become more ubiquitous over time.”   . . . and so does ESG Emerging Trends also addresses the growing importance of environmental, social and governance principles to real estate customers, employees, shareholders and communities. “Sustainability evaluation is becoming a checklist item for institutional investors domestically and worldwide” in real estate and other business sectors,” the report says. And with 55% of millennials, 25% of Generation Xers and 11% of baby boomers saying they factor ESG policies and performance into their investment decisions, “the power of ESG to influence capital deployment will be rising over time.” “ESG attracts a more diverse set of investors, aids in recruiting talent and helps generate community support for proposed projects,” notes an unidentified REIT executive and Emerging Trends contributor. Another REIT exec adds, “As ESG data is becoming more widely available, we’re seeing clearer ties between ESG and overall performance.” Along with comprising a standard for due...

Editor’s note: Said Haider, regional director of Middle East sales for Yardi, recently spoke to Property Weekly about real estate technology’s transformation and regional implications. Technology is constantly evolving and making our lives easier. Said Haider believes that new technologies such as artificial intelligence and the Internet of Things (IoT) are also changing the real estate landscape. Business models are changing, mainly because of digitization and advancing capabilities of applications, Haider said. Yardi is investing heavily in real estate technology, also known as proptech, developing innovative solutions to have a major influence on the industry. Yardi designs, develops and supports software solutions for real estate owners and managers. Its products are available for nearly every real estate vertical, including commercial, residential, investment management, homeowners’ associations, student housing, construction and more. Another area where technology is making a big impact is sustainability. Yardi has developed a platform called Yardi Pulse, a suite of energy solutions that handle utility billing and submetering, energy management and energy usage automation. Pulse helps Yardi clients achieve environmental goals and reduce energy costs. Haider explains Yardi’s support for the real estate sector in an interview with Property Weekly. How do Yardi’s solutions support the property sector? Haider: Yardi was founded in 1984 as a software start-up focused on property management and has grown to become one of the largest companies in the sector. Yardi’s innovative solutions benefit everyone in the chain, from corporations and developers to investors and clients. It offers a single connected solution that meets a broad range of business needs. We help real estate companies streamline their business processes and improve quality of service, which translates to improved performance. For example, the Yardi Voyager is an end-to-end platform combining financial and property management information in a single,...

The Yardi Advanced Solutions Conference (YASC) returns to Singapore on Nov. 5 and will be bigger and better than ever. Yardi brings together real estate management professionals from across Asia for this one-day event. Come and discover the latest proptech innovations, interactive discussions, meet local and international experts, and network with industry peers. This a great chance to dive deep into Yardi Voyager and the ancillary software real estate professionals use every day. YASC is also a great opportunity to strengthen collaborative skills and network with industry peers. With interactive discussions, local and international experts, more networking time, and previews of new products and enhancements, this is an event not to miss. YASC Singapore is a fantastic opportunity for Yardi clients with portfolio presence in Asia to discuss technology platforms with the leadership, development and support teams. Reserve your spot today! Here’s what to expect at YASC Asia 2019: • Meet the Experts Attendees will hear from industry experts on market trends and technology innovations. Make valuable connections with Yardi’s product experts and discover new insights, tips and tricks for getting the most out of Voyager and other modules. With enhancements and innovations in the Yardi pipeline, hear about new products soon to be released in Asia. You’ll also get a firsthand preview of the new Yardi Elevate Suite for asset management. • Visit Knowledge Central New to YASC Asia, gain hands-on experience with Yardi’s Knowledge Central, which will offer on-site assistance with Yardi products, SQL scripting and reporting. The Knowledge Central team will be available to answer your product-specific questions, provide previews of new products, discuss current software and anything else you’re keen to learn more about. For Knowledge Central hours, refer to the in-app schedule. • Yardi Events App A new addition...

Commercial real estate still faces a hiring crisis. Though pipelines are ready to burst, employment levels are at a 50-year low. Talent recruitment poses a challenge throughout real estate management, but commercial firms face unique battles that linger from the Great Recession. Only fresh strategies can help lift these organizations out of the hiring deficit. Why is Hiring Still an Issue? Though the Great Recession ended about a decade ago, we are still feeling the aftershock. In the midst of the economic slump, commercial firms stopped hiring. As the nation reeled towards recovery, hiring resumed with the exception of entry level positions. “That lack of training has created a shortage of people who can step into mid-level positions right now,” explains Dianna Rudd, senior director of facility staffing and recruitment at IMPEC Group of California. Her organization offers workplace consulting and witnessed the hiring drama firsthand. As a result, the industry also dropped off the radar with prospects. Fast-forward and we are still struggling with a shortage of entry-level and mid-tier talent. For example, it took 10 views of a job posting before someone would apply back in 2006. In 2018, it took about 30 views. What Hasn’t (Really) Worked To bolster recruitment efforts, commercial organizations increased compensation by nearly 16 percent from 2013-2018. This rate is even higher for C-level executives, reports National Real Estate Investor Online. Rates are reported between 20 and 30 percent higher for executives. But offering more money hasn’t solved the problem.  Other industries have recovered while commercial real estate organizations struggle to generate interest. Though the current national unemployment rate fluctuates around a healthy 3.7 percent, commercial real estate faces a nearly negative unemployment rate. Competitive compensation packages are a viable way to promote engagement. The additional strategies...

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...

Editor’s note: The following post was written for real estate and investment professionals in Asia by Bernie Devine, Regional Director (Asia) for Yardi. With 30+ years’ experience dedicated to real estate and technology, Bernie is a leader in digital transformation in real estate and using data to create a more competitive and collaborative environment. He supports real estate clients with Retail, Commercial, Industrial, Residential and Mixed Use assets, helping them to grow their operations, create efficiencies, and gain better insight into their business. His expertise includes asset and investment management, private equity, operations improvement, program and project management, finance, technology implementation and compliance. Currently responsible for the growth of Yardi Systems in Asia, Bernie lives in Hong Kong and is a qualified accountant and economist. He has published over 60 articles and has extensive public speaking experience. I’ve recently seen a lot of discussion around the tokenisation of real estate investments. Some has been sensible, but some has missed a few key points. Two key challenges of the real estate market for the last 400 years when compared to other investment asset classes are the slow pace of transactions (it takes a long time for ownership to be transferred) and liquidity (the purchase price is so large that only a limited market of buyers exists). There have been many innovations over the years (Such as private equity funds and REITS) that have sought to address these issues, but the proptech community now thinks it may have a better solution. Tokenisation of real estate investments is about changing the way ownership of an asset is represented. It’s proposed that this change in ownership model will open up how the purchase of the asset is funded and how ownership is transferred. Basically, if ownership can be...

The Yardi Advanced Solutions Conference (YASC) returns to Sydney on August 29-30, bringing together real estate professionals from across Australia and New Zealand. Diving deep into Yardi Voyager and the ancillary software you use every day, this is a great opportunity to strengthen your skills and network with your peers. With interactive discussions, local and international experts, more networking time, and new innovations revealed, this is one event you can’t miss! As one attendee shared about their YASC experience in 2017, “I come to YASC to learn more about the systems that helps me in my role. This includes best practices, new functionality that improves my work days, and discovering system efficiencies.” Why will you attend in 2018? Here are a few new features to 2018 YASC Australia and New Zealand: Yardi Events App We’ve added a conference app to streamline your YASC experience. You can access all conference information, venue maps, class materials, social networking and in-app messaging and more on the Yardi Events app. It’s designed to enable attendees to custom-tailor their daily schedule with classes, demos, panels and roundtables, and to set up one-on-one meetings with Yardi staff. The Yardi Events app is available for download at the Google Play Store and Apple App Store. A browser-based version, synced to the mobile app, will also be available, so attendees can access all these features from their desktop. User log-in details have been emailed to all registered YASC attendees. Questions? Email our team at [email protected]. Hear from the Experts Throughout the conference, attendees will hear from industry experts on the market trends and technology innovations that impact our work. We’re excited to partner with MSCI, who will provide a real estate sector update and what’s ahead for Australia and New Zealand in 2019. You won’t want to miss this presentation during lunch on the first day. With...

LONDON – Technology has changed all our lives so fundamentally in recent years that it is sometimes difficult to look back to an era when things were done differently. Today’s normality was, just a short time ago, unthinkable. Banking is a good example. Today, we take it for granted that we can access our accounts at any time and transfer money and pay bills quickly and cheaply. The chequebook is still available for those who need it, but it won’t be long before they too are consigned to history. Then take taxis. While in London at least, using a cab was once the preserve of those with substantial salaries – or travelling at somebody else’s expense – now the rise of Uber and others means that getting a ride home is a real option for many people. Property has, of course, been slow to embrace the benefits that digital technology can bring – one estimate is that the industry is around 20 years behind financial services – but that is starting to change and at pace. Just a few years ago, if the property press mentioned technology at all, it was to reference the influence of the likes of Rightmove or Zoopla. Today the phenomenon has its own name: proptech. A lot of attention has been paid to how proptech is disrupting the industry, most notably through big data potentially making the role played by many agents redundant. That is obviously a cause for concern and the introduction of new ways of working will obviously have to be done with care and compassion. But proptech also has the potential to bring huge benefits to both property companies and their consumers – and without the need for anyone to lose their jobs. In no sector...