Yardi and Property Week recently invited experts from across the build-to-rent sector to take part in a digital debate on the key issues facing the market in the wake of the coronavirus pandemic. The consensus was that despite the challenges posed by the outbreak, there is also an opportunity for BTR to move forward and evolve Michela Hancock Managing director, Greystar Europe Justin Harley Regional director, Yardi Systems Hannah Marsh Co-founder & marketing director, HomeViews Sanjeev Patel Managing director, PPP Capital Kevin Watson Operations and commercial director, Platform Simon Creasey Contributing editor (features), Property Week (chair) Earlier this month, in the latest in the Yardi Think Tank series, Property Week contributing editor Simon Creasey chaired a discussion with key figures in the UK build-to-rent sector on how Covid-19 has affected BTR and the factors driving innovation for investors and residents. Also up for debate was how the pandemic might affect future BTR development. Simon Creasey: What impact has the Covid-19 lockdown had on your operations so far? Kevin Watson: The main impact has been on amenities spaces, which obviously have been closed now for a significant amount of time, and that’s clearly a key part of the value proposition of BTR. On the operations side, the thing that’s been really good to see is the transition to virtual and video viewings and other tools that enable engagement with residents. I think we’ve all been pleasantly surprised at how a lot of people both from the operator side and also from the resident’s side have taken to that. We still have some way to go to make those virtual viewings as interactive and as effective as a face-to-face viewing, but it’s been great to see that come through. Michela Hancock: We’re all kind of dealing...

Yardi recently partnered with the UKAA and Get Living to deliver a webinar which explored the effects that Covid-19 has had on the build to rent market. Yardi’s special guests from Get Living, Chris Armstrong, Brand, Technology and Experience Leader and Ian Gibbs, Director of Neighbourhoods, shared their experience on how brand, technology and operations have come together through the pandemic. Justin Harley, regional director at Yardi, kicked off the webinar by sharing some interesting technology trends that Yardi had collated throughout the pandemic. Harley highlighted that technology should be at the heart of any business as the need to be ‘digital-ready’ grows. The count of virtual tours, online applications and resident app downloads are at an all-time high, and data analysis from Yardi shows that resident app usage has doubled since lockdown. Underlying technology has become more essential than ever before. “Technology is a critical part of a business’s infrastructure, just like the physical foundations of any building” said Harley. He posed the question, “when we’re out of lockdown, will these tech tools stay crucial to businesses?” Are you Match Fit? The Get Living duo, Gibbs and Armstrong, scattered sporting analogies throughout the webinar as they compared their response to Covid-19 as becoming ‘match fit’. “We’ve been working on becoming ‘match fit’ for some time now. Gibbs compared Get Living as being ‘at times close to the top of the table’ before new opponent Covid-19 arrived, challenging the team in more ways than they were prepared for. Armstrong compared the Get Living team to being stood on the side lines, discussing the best tactics to take to win the match. He said their first step was to get the right people in the room and to talk it through about how to play...

Yardi’s vice president of international, Neal Gemassmer, recently spoke with the UK Proptech Association (UKPA) about the future of international proptech. Their conversation is reprinted below. Yardi started out as a small software start-up. Now, moving towards Yardi’s fourth decade, how have you seen technology evolve? Gemassmer: A lot has changed since 1984. Since then, Yardi’s technology road map has delivered consistent innovation as we remain focussed on meeting the evolving needs of the real estate industry, and helping our clients serve customers and improve business outcomes. As one of the earliest property management software start-ups, Yardi was founded on core property management and accounting.  Since then, we have greatly expanded our range of products and services. Being one of the first real estate technology companies to transition to the cloud, our SaaS model has proven to be hugely successful. With a focus on mobility, connectivity and efficiency for users, we now provide a unique role-based ecosystem of solutions and interfaces for key positions in real estate management. Whether you’re an asset manager, investment manager, property manager or marketer, Yardi offers a range of solutions that are intentionally designed to connect teams across the entire real estate lifecycle, while leveraging a single source of data. Yardi now employs over 7,000 people worldwide and are active in over 80 countries, serving clients that invest in and operate a wide variety of real estate asset classes, from fund and asset management, commercial including office, industrial and retail, coworking and flexible workspace to residential including build to rent, PRS and student. Can you share any insights into the latest innovations at Yardi? What are you most excited about in the product pipeline? Gemassmer: We have creatively consolidated Yardi’s technology solutions into four main principles: Fully connected real estate management...

Movers & Shakers hosted another impactful Build to Rent Forum on Thursday, Feb. 27, where eager build to rent professionals gathered to debate a range of topics impacting this ever-growing market. Movers & Shakers Chairman David Jennings opened the day with an inspiring video of Greystar’s 2,000-home Greenford Quay development, showcasing a great example of the high standard of homes the industry has to offer.  Adam Challis, Executive Director, EMEA Living Research & Strategy at JLL, reaffirmed the previously controversial notion that home ownership isn’t all that matters. As an industry, real estate should be focused on product quality and geographical diversity. Challis tapped into the importance of sustainability and thought provokingly asked which company in the market would be the first to achieve zero carbon emissions whilst being able to offer affordable rental prices. Later in the day, Rebecca Taylor of Long Harbour agreed with the sentiment and stated that as well as operating buildings more efficiently, sustainability must also be entrenched in construction and waste management. News from the Frontline The passion and enthusiasm to see more collaboration in the market was apparent, especially when it comes to data sharing. Michela Hancock, Managing Director, Development & Construction, Greystar Europe, shared some interesting demographic data from Greystar’s Salemakers development. Hancock explained how Salemakers is occupied by 50% students, a figure much higher than expected, that the average age of build to rent residents is 29, and that 48% of residents are male. Ian Gibbs, Director of Neighbourhoods, Get Living, delved into behavioural data sharing that 20% of the East Village population transfer internally when relocating because they know the Get Living brand. Gibbs also stated that 50% of people who have lived in a tall, residential tower building, are more likely to rent...

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...

Editor’s note: the below perspective on 2020 and the decade ahead for technology and real estate comes from Neal Gemassmer, vice president of international for Yardi. Originally published in Property Week, it is reprinted here with permission. The festive period was an invitation to reflect on the year gone by and the year ahead, even more so than usual. After all, it was the end of one decade and the beginning of another. Naturally enough, all eyes are on Brexit, but from a real estate perspective the impact that technology is having on our industry offers the most interesting food for thought. New technology has had a greater impact on property in the last few years than in the previous three or four decades combined. In 2010, the term ‘proptech’ had not even been coined; today, it is ubiquitous. However, in my view we have barely scratched the surface in terms of its influence. In the years to come, it will redefine how real estate functions. Here are a few ideas as to how. First, consider the build-to-rent (BTR) market. More and more investors are moving into the sector and technology has the potential to act as a major enabler. Digital technologies can allow owners and operators to cut out the middle-man – the letting agent – and communicate directly with potential customers, who can view different buildings and get a feel for the quality of the accommodation and the amenities on offer. Virtual reality lets potential tenants view a property remotely, while online tools can arrange physical visits without the need to call or email ahead. Applications and background checks can also take place digitally and customers will be able to sign their lease and pay their deposit online. The whole process will become virtually...

With shared space workplaces becoming ever more common, it’s important to have the right technology to ensure client success and happiness. Us&Co offers private offices and coworking space in London and Dublin and has a devised a successful model that serves professionals of all kinds. We spoke with Sylvi Wilamowska, head of operations at Us&Co, to find out how on-site tech fits into that experience. An experienced Industry professional, Wilamowska enjoys helping businesses grow and succeed by providing professional workspace they can be proud of, and by taking away the hassle of day to day building management of their own space. Tell us about Us&Co  and the company values, mission & objectives? Wilamowska: Us&Co seeks to provide beautifully designed, high-end, professional workspaces, with a variety of uses. We offer our clients space where they can grow and thrive, which is complimented by first class service, delivered by our onsite team and partners. We are strong on design and appeal to a wide variety of businesses. We major on quality furniture, good natural light and space. Whether our clients are from the financial or tech sectors, they expect excellent IT both in the offices and throughout our extensive break out areas. Client satisfaction and therefore retention is our main objective which we achieve through attentive service from our staff and the best systems available. How does Us&Co fit into that? Wilamowska: The market is expanding fast but so is demand. Some markets are becoming overly competitive and some operators are doing unsustainable deals which are creating challenging trading conditions. At Us&Co, we both own and operate our buildings which gives us stability. We want to expand in a measured and controlled way with a long-term horizon. Prior to the relationship with Medusa, what were the...

Providing opportunities for children without homes and supporting those in need is important to Yardi employees around the globe. On July 18th, Yardi’s UK office participated in PropKart, a go-karting event hosted by PropSki with all proceeds benefitting LandAid and Maggie’s Centres. These two heart-warming charities prioritize emotional support and health support. Read on to learn about the exciting race and the special organizations benefitting from the event. PropKart A team of five Yardi employees proudly represented Yardi at PropKart, The Property Industry Karting Championships, at Buckmore Park Kart Circuit – the biggest professional go-karting track in Europe. In their first time participating in a PropSki event, “the team were raring to go! Enthusiasm got the better of one employee who spun out on the track, but all team members were excited by the event,” says Hannah Holmes, a Yardi marketing associate in Great Britain. Among the 23 property industry attendees were Vectos, Greenaway Architecture, and Buckler Environmental – the first, second, and third place winners. Yardi came in further on in the pack, but was most excited to help raise £5,000 for LandAid and Maggie’s Centres, two important and selfless organizations. LandAid LandAid brings businesses and individuals from across the property industry to change lives by working to end youth homelessness in the UK. According to LandAid,  around 86,000 people in the UK will be homeless. Through the nonprofit’s inspiring efforts, countless small-medium sized charities across the UK have received investments totaling over £2 million each year, which enables the construction of new buildings and renovation properties. In its work to end youth homelessness, LandAid follows up its funding with strategic advice and property expertise to each project. Last year, LandAid provided 472 homes for vulnerable young people, reaching their three-year target of...

There are a lot of amazing people on this planet doing some fantastic work in their communities. These people are the heartbeats of nonprofits.  Each year, Yardi offices around the globe embark on a mission to support such organizations, their staff members and volunteers. Employees often nominate nonprofits that hold a special place in their heart. Yardi UK is proud to support the following nonprofits in their efforts to create a more just, peaceful, and equitable world. Follow any of the links below to show your support. MK Food Bank– Milton Keynes has experienced its share of economic success. But like all metropolitan areas, many residents struggle with poverty and occasional crisis. With the help of referral agencies, Milton Keynes Food Bank identifies families and individuals facing food insecurity. The non-profit then provides nutritious, essential food items throughout the year. MK Food Bank is fully funded by donations and operated by volunteers. MIND BLMK– Did you know that 1 in 4 people will experience a mental health issue each year? About 1 in 6 will experience a mental health issue at some point in their lives. MIND BLMK wants to ensure that no-one has to face a mental health problem alone. The non-profit offers aid through peer support groups, mentoring, counselling, and corporate programs for clients of all ages in Bedfordshire, Luton and Milton Keynes. Age UK Milton Keynes– Many seniors face isolation and a lack of support. Age UK provides an array of services for older adults in need. Through the organization, seniors can receive counselling and social activities as well as services like cleaning, technology support, and vetted trade recommendations. Keech Hospice– Keech is one of very few organizations that provide free care for adults and children facing life-limiting and terminal illnesses....

Established in 2015, Shannon Commercial Properties (SCP) is a subsidiary of Shannon Group plc and provides commercial property solutions to commercial, industrial and aviation markets. The company owns and manages seven business and technology parks and has over 1.8 million square feet of office and industrial space, as well as approximately 1,600 acres of development land in over 40 locations across counties Clare, Limerick, Tipperary, Kerry and Offaly in Ireland. “We are focused on expanding our property portfolio in the Mid West region with the provision of further third generation office and industrial facilities, primarily located in Shannon Free Zone West, beside Shannon Airport,” said Jennifer Kearns, finance manager for Shannon Commercial Properties. SCP adopted Yardi Voyager to improve business processes and to gain better control and visibility of operations in one system. The move from disparate systems enabled SCP to handle all aspects of portfolio management including lease management, reporting, budgeting, maintenance, and financials from a single database. Prior to adopting Yardi solutions, SCP was operating across six different management systems. Initially, a new structure was proposed which detailed a four-system approach: property management, financial management, debt management and document management. However, after further examination and detailed discussions with Yardi about the company’s key needs, it became apparent that SCP could streamline onto just one system, Yardi Voyager. “Streamlining onto a single system has allowed us operate with a more reliable set of data. Multiple systems had resulted in unreliable data, which had increased the potential for inaccurate reporting. Combined with the powerful reporting functionality with Voyager, SCP is far better positioned to make strategic decisions than previously,” said David Neylon, capital sales executive for SCP. Gaining control over workflows was a key driver in SCP’s move to Yardi Voyager. Voyager enables SCP...

Yardi UK invited a team of northern property experts to The Slate Yard, a build-to-rent (BTR) development in Salford managed by urbanbubble, to discuss how the relatively nascent sector is evolving in the north of England and to explore the main obstacles that stand in the way of BTR’s future growth in the region. Participating in the discussion were: Michael Howard (MH), managing director, urbanbubble Matt Crompton (MC), joint managing director, Muse Developments Adam Higgins (AH), founder, Capital & Centric Shelagh McNerney (SM), head of development, Salford City Council Gavin Taylor (GT), regional general manager, Far East Consortium Simon Creasey, consulting editor (features), Property Week (chair) Where have we seen significant levels of BTR development take place in the north to date and why? MC: Manchester is streets ahead of other cities at the moment. I guess it comes down to the rental levels that you need to derive from occupiers and the void levels you can accommodate, which filters through the financial model to result in whether something is developable or not. The dynamics in Manchester work because you can see lots of activity happening here, but you don’t see as much activity happening in other strong northern cities – Liverpool, Leeds and the like. The same dynamic must exist in those cities in terms of agile workers that want to live there and have the flexibility of the BTR offer, but rents need to get to a level where developments become viable. SM: You can’t separate what’s going on in the housing market [in Greater Manchester] at the moment from all those large new employers coming into the city and I think that’s what distinguishes the area. While those other northern cities have got great assets and things to offer, it’s just the sheer...

Staff at the Yardi Milton Keynes office are cleaning out their home pantries. But they’re not checking for expiration dates—they’re collecting items for the Milton Keynes Food Bank. Located in Buckinghamshire, about an hour northwest of London, the Yardi UK office employs over sixty team members, and they hope to make a big impact. As part of Yardi’s philanthropy program, the UK team started a charity committee. They sent out a survey to gather feedback and decide which charities to support as a team. The group wanted to keep things local and at first chose a handful of organizations to contribute to. But after the initial charity drive, members of the team had a desire to get involved with something a bit more hands-on. Hannah Holmes and Martin Gedny from the marketing team took a trip to the local food bank. Both learned a great deal about the types of people who benefit from the organization. “It was such an insightful experience that we decided to get involved, and at the very least, set up a donation box,” said Hannah Holmes, marketing associate. “The collection has been a massive hit, and it’s just a start. We want to also encourage team members to get down there and volunteer as well,” said Martin Gedny, senior manager, EMEA marketing. The Milton Keynes Food Bank, recipient of the Queen’s Award for Voluntary Service, aims to educate locals about the realities of hunger in the area. Long believed to be an issue only in developing countries, hunger is a very real threat; even in prosperous communities, many families live on the edge of poverty. And since the food bank relies entirely on contributions from local schools, churches and businesses, every donation counts. Each week, the team checks the...

Ed. Note: Neal Gemassmer (pictured, right)  is vice president of international for Yardi. This piece on global real estate technology adoption was originally authored for Property Week. It is relatively easy to raise a few hundred thousand pounds and start a company, so I think the number of new proptech start-ups will continue to grow exponentially.   It may have been a relatively late adopter where technology is concerned, but the real estate industry is now embracing it. Thanks to the advent of simpler programming languages, the accessibility of cloud storage and the weight of investment capital aimed at the sector, setting up a proptech company has never been easier.  On top of that, the now widespread use of apps offers a simple way of getting your technology into customers’ hands via the App Store or Google Play. With this in mind, it is no wonder that new companies are springing up in the sector on an almost daily basis, each of them aiming to solve a particular problem or simplify a complicated process.  But as the property industry’s use of – and understanding of – technology becomes more sophisticated, it is technologies that make a fundamental difference to the way businesses work and create real value for their customers that will succeed.  Although it has only been encapsulated in a neat buzzword in the last couple of years, proptech has been around in one form or another for far longer. Yardi Systems was founded in 1984 as a small software start-up in the property management sphere and has grown to become one of the largest companies in the sector, learning a lot along the way. In the US residential market, where Yardi has its roots, customers have been able for many years now to identify a...

Editor’s Note: As part of a recurring series in partnership with Property Week,  Yardi hosts Think Tanks on real estate development trends in Great Britain. Recently, Yardi brought together a panel of experts to discuss future developments in mixed use, a concept that is gaining traction in the region. The Panelists: Victor Nicholls Assistant Chief Executive – Bracknell Forest Council Michael Auger Regional Director, South – Muse Developments Alistair Shaw Managing Director (TV Centre) – Stanhope Ben Giddens Executive Director – Development – Quintain Alan Harris Partner – Montagu Evans Claer Barrett Personal Finance Editor – Financial Times (chair)   CB: Let’s begin by debating what have been the biggest changes to mixed-use over the past decade. BG: The biggest change was the last recession and what that meant for development sites. With the residential tap turned off, you had to look to other uses to bring schemes forward. MA: Mixed-use is the new normal. The biggest change has been the perceptions of funders and occupiers. Ten years ago, they might have felt a mixed-use scheme was ‘pushing the boundaries’ and it was hard work to convince funders in particular that a scheme was going to succeed. Now, they actually want to invest in mixed-use schemes – that’s a fundamental shift. VN: [There is more] enthusiasm from local authorities towards mixed-use, and much more flexibility. Yes, we like our zoning and masterplanning, but that comes from the pressure we’re under to deliver housebuilding targets. But I definitely see more flexibility in the public sector. BG: We have flexible planning consent on several plots of land at Wembley Park where we have outline consent from the local authority to develop offices, residential, hotel space or student accommodation above ground-floor retail. This allows us to respond...