UK Think Tank: Insight from a recent real estate roundtable held in coordination with Property Week. Manchester is one of the UK’s most successful locations for large-scale private rented sector projects. But what are the drivers of success? Yardi brought together a think tank to discuss future developments in the sector. OUR PANEL OF EXPERTS Tom Bloxham MBE – founder, Urban Splash Matthew Howard – deputy fund manager, Hermes Real Estate Investment Management Antonio Marin-Bataller – investment executive, PATRIZIA UK Stefan Trebicki – project architect, SimpsonHaugh Paul Winstanley – partner and analyst, Allsop’s private rented sector and build-to-rent team Oliver Wolfryd – operations manager, Moda Living Claer Barrett – personal finance editor, Financial Times, and contributing editor, Property Week (chair) Why have you all chosen to invest and develop build-to-rent (BTR)schemes in Manchester? Antonio: Manchester scores highly from a demographic point of view, and the high level of interest from institutional investors makes the city a compelling story. The choice of city centre sites was relatively ample and it’s a very walkable city. Young people want to be in walking distance of transport, work, entertainment and friends, and Manchester has one of the highest retention rates for students following graduation in the UK. Matthew: Manchester was an obvious choice for us – it has all the drivers of urbanisation and the city centre has undergone a renaissance. Tom: When I first came to Manchester years ago, there were 200 people living in the city centre and you couldn’t buy a pint of milk. Now 30,000 live here, and I believe it’s only just started – there will be a lot more growth. BTR is very popular here – is Manchester going to have an oversupply problem? Tom: What I do worry about is that...

Rising utility costs are a growing concern for renters. A recent report by Freddie Mac suggests that increasing utility costs concern renters more than rising rents—and renters are willing to pay higher rents for greener units. Forbes reports that the price of every energy commodity included in its index declined in the double digits since 2013. Electricity was the only exception with a decline of 0.4 percent. Energy costs are lower yet residents receive higher bills even when demand and usage have not increased. The changes are so alarming that concerns over rising utility costs now outweigh worries over rising rents. The “Profile of Today’s Renter” by Freddie Mac reveals that 70 percent of respondents are moderately to greatly concerned about higher utility bills. More than 60 percent share the same level of concern about potential rent increases. Utilities and rents are neck-in-neck when renters consider the impact on their budgets. Of participants, 74 percent report that higher utility bills will have a great impact or some impact on their household finances. In comparison, 78 percent express similar views about higher rents. What may come as a surprise is that 47 percent of renters are willing to pay higher rents for a unit that promotes energy conservation. Of those surveyed, 88 percent say that green multifamily properties will help to reduce their utility expenses. But that’s not the only reason why renters will invest more in a green apartment. The perceived and actual value of sustainable properties extends beyond renters’ utility bills. A remarkable 84 percent of renters believe that multifamily properties that invest in sustainable features are “better places to live.” For many, energy conservation is a logical, ethical, and moral preference. Yardi Smart Energy Suite for multifamily properties addresses renters’ concerns by...

Editor’s note: the following article originally appeared in the British real estate publication Property Week on Nov. 25. Martin Betts is Yardi’s Sales Director for UK and Ireland. Are some shopping centre landlords guilty of thinking their asset is simply a property? They get the tenants in, the leases agreed and the rents start rolling in. But thinking in this way can limit the potential of the asset. For unlike an office block or an industrial unit, the shopping centre presents many different avenues for turning revenue. The unique nature of the mall means there is huge potential for additional revenue generation- something landlords and shopping centre managers need to ensure are managed and promoted effectively. Spaces like the walls are potential advertising spots, mobile phone masts can be erected on top of the buildings, pop-up stands can be used to utilise what would otherwise be dead space within the mall and even car washing facilities in the car park – all of this generates rent for the landlord and maximises space.  Some of the best shopping centre operators have been doing this for years, but there are still way too many that aren’t or are not capturing the data that highlights where these opportunities exist. The UK market is moving more and more to a turnover rental structure, so an even greater prevalence is put on the landlord to drive footfall and entice people to the centre. But this is not easy in such a competitive retail and shopping centre sector, where you may have three shopping centres in close proximity to one another, all vying for the same customers. People will generally choose on the calibre of the shops and the experience they receive. So how do successful landlords and managers attract...

Patrick Hennessey, Vice President and General Manager at Yardi, joined the team in 2010 as an expert in screening software. He found Yardi’s small company feel and large company resources appealing.  “We have a great team of people, cutting edge technology, and the efficiencies that a company the size of Yardi are able to attain with support teams on both coasts and flexible hours for our clients,” says Hennessey. Hennessey leads the Yardi Resident Screening team in honing and refining online screening software for multifamily clients. The team introduced the product to Canadian markets earlier this year. Benefits of Yardi Resident Screening Hennessey’s focus, Yardi Resident Screening, helps leasing agents select and retain low-risk residents. The system facilitates: comprehensive reports reliable data automated recommendations insights into applicant traffic applicant and resident performance reporting improved efficiencies Hennessey explains, “We do a few key things to help our clients through Resident Screening. First, we help our clients make the best possible leasing decisions. We do that by helping them find more high quality applicants and fewer low quality applicants. Thus we help them maximize revenue by minimizing unwarranted financial risks.” He continues, “Additionally, we limit their legal exposure by using a neutral third party for their screening process. That ensure that the applicants’ rights are protected and that they are given a fair opportunity in the leasing process.” In addition to increased consistency in the selection process of their residents, property managers who adopt Yardi Resident Screening can expect cost savings as a result of improved efficiencies in the leasing office. Rather than requesting a credit report and scoring it by hand, users execute tasks online. Added Security The efficiency and convenience of online leasing has directly influenced the demand for resident screening tools. With Resident...

London, United Kingdom will host the annual Yardi Advanced Solutions Conference (YASC) on 15-16 November, 2016. The conference will be held at the Park Plaza Riverbank London hotel, located on the south bank of the River Thames overlooking the Houses of Parliament. This year, YASC will bring together an estimated 250 clients and 80 staff for two days of learning and networking with real estate professionals within the European commercial, residential and investment sectors. The conference focuses on advanced software training, product updates and exploring important industry topics. YASC will offer clients 84 unique classes and panels tailored for executives, product users and technology professionals. Attendees can look forward to a General Session with Yardi leadership on Tuesday, interactive client and expert panels throughout the conference, networking receptions, prize draws and the highly anticipated YASC Gala. New to 2016, the conference has been enhanced for expanded client learning and networking: Connect with the YASC App. Attendees can access conference information, maps, social networking and in-app messaging on the YASC App. Use the YASC App to view your daily schedule, explore YASC social media activity and to complete session evaluations. The YASC App is available for download at the Google Play Store or Apple App Store. Get social and win! This year, we are hosting Europe’s first YASC social media scavenger hunt. Complete all six tasks to be entered to win prizes during Wednesday’s Closing Remarks. Learn more about the scavenger hunt in your conference brochure. Connect and share your YASC experience on your favourite social network using our event hashtag, #YASC2016. Get hands-on experience from the experts. Reinforce newly acquired skills with hands-on experience in our on-site lab. Our expert account managers and technical staff will be on hand to walk you through advanced techniques and to answer your...

If you’re a small to mid-size residential property manager who is looking for a way to simplify processes, you’re not alone. Landlords and property managers wear many hats, often jumping back and forth between office chores and onsite duties in a single day. The constant juggling of locations, jobs and tools can be exhausting! The four responsibilities below are probably a huge part of your daily life. Keep reading to see how you can use a smart property management platform to excel at each and every task – without juggling passwords or feeling chained to your desk. Streamline Property Management Is your software made to suit your portfolio? Some solutions only work well with one asset class, and others generalize for multiple property types without providing the specific tools you need to manage a diverse portfolio. The right software platform will have everything you need to support every property type. For residential property management – whether it’s single family home, apartment, affordable housing or condo – you should be able to move-in residents and complete your accounting tasks as well as maintain compliance and calculate community fees as needed, without having to use a separate program. And on the commercial side – whether it’s office, retail, industrial or self storage – you should be able to run automatic CAM reconciliations that will save you significant man hours every year. Integrate Property Marketing Adopting a property management solution with marketing and leasing capabilities benefits both managers and renters. Recent research by Google indicates that apartment shoppers view 20 property websites online, but only visit three properties in person. Make sure your property gets a visit by having a responsive website with high resolution photos and floor plans, as well as SEO-friendly content. RentCafe for Genesis2...

The Yardi Advanced Solutions Conference (YASC) heads to Singapore on November 10, 2016. YASC offers comprehensive training and networking opportunities tailored for our clients in Asia. This year, over 100 clients and 30 staff will join us at the Amara Sanctuary Resort on Sentosa Island during the 1-day conference. The conference offers 20+ educational sessions, discussion panels, hands-on product training and a networking reception for clients within the commercial, investment and residential markets. Attendees can look forward to courses and panels tailored to the experience of product users, IT professionals, managers and executives. Throughout the conference, clients can meet one-on-one with Yardi product experts. The hands-on experience offered in the YASC Computer Lab will help reinforce newly acquired skills and offers assistance with all products, SQL scripting and reporting. In addition, YASC is hosting experts from Yardi’s Cloud Services team. Cloud Services will offer insight into the latest innovations in the Yardi Cloud environment and what we’re doing to keep your data protected. For Computer Lab and Cloud Services hours, refer to the conference overview. After classes conclude, clients can enjoy an evening of networking at YASC. The cocktail reception will be hosted in the Ballroom Foyer of the Amara Sanctuary from 6:00-8:00 p.m. Inspired by La Dolce Vita, the reception will feature traditional Italian and international cuisine, live music, prize giveaways, an Instagram printer to capture your conference memories, and more! The reception will allow guests to escape the busy city life to mix and mingle in our Italian-themed island oasis. For the first year, YASC will feature an interactive social media scavenger hunt. Learn more about the scavenger hunt and how you can win big at the YASC General Session. Attendees can stay updated on conference news and share their experience on social...

Thanks to detailed accounting options and superior customer support, Sentio Healthcare Properties continues to expand its use of Yardi Voyager across its property portfolio. As a REIT specializing in senior living, Sentio Healthcare Properties oversees a diverse portfolio ranging from medical office buildings to senior housing, including independent living, assisted living and memory care facilities. At the company’s Orlando headquarters, about 20 employees work with third party operators at 34 properties located in 16 states. “REITS are not the easiest structure to understand,” admits Julia Avallone, Manager of Property Level Accounting and Asset Management (CPA) at Sentio Healthcare Properties. “I’ve been at Sentio nearly three years, and I’m still wrapping my brain around all the accounting complexities. That being said, I think it’s rare to find an accounting role where you feel that you are making a positive contribution to somebody’s  life. I feel that my role at Sentio is mission driven and contributes, albeit in a small way, to the quality of life the residents in our facilities enjoy.” Making the Switch to Senior Living Avallone began her career in public accounting mainly for real estate clients. Eventually, Avallone decided to transition into another industry, and one of her managers recommended Sentio. “My husband was also in public accounting, and it was too much to both work in the (same) industry,” explains Avallone. “I was looking for a change, and one of my managers knew the controller at Sentio. It was a good fit.” Avallone used to handle accounting for approximately half of Sentio’s portfolio, but is in the process of transitioning to an asset management role. Because Sentio’s properties are located in a variety of different markets, each community comes with its own advantages and challenges. For example, Texas recently moved to...

In less than one week, the 2016 Yardi Advanced Solutions Conference (YASC) kicks-off in Sydney, Australia. The annual user conference will be hosted on 25-26 October, 2016 at the Pier One Sydney Harbour Hotel, located near the picturesque Sydney Harbour Bridge. This year’s event has grown by 30 per cent, bringing together over 170 clients and 50 staff members to explore product training and topics facing the real estate sector in Australia and New Zealand. YASC will feature 40+ unique courses, modules and discussion groups tailored for commercial, investment, and residential portfolios. For the second year, YASC is hosting experts from Yardi’s Cloud Services team. Cloud Services will offer insight into the latest innovations in the Yardi Cloud environment and what we’re doing to keep your data protected. In addition, the Computer Lab is your opportunity to speak one-on-one with our product experts. The Lab is a great place to get hands-on experience with Yardi software and learn how to apply what was discussed in courses. Guests will be able to enjoy scheduled entertainment and networking at the YASC cocktail reception on Tuesday, 25th October. Inspired by Fellini’s iconic La Dolce Vita, the reception will feature traditional Italian and international cuisine, live music from Breakfast at Tiffany’s, internationally renowned magician Liam Power, an Instagram printer to capture your conference memories, and more! The reception will be sure to amaze and delight YASC attendees – you won’t want to miss it! A YASC first in Sydney, the conference will feature an interactive social media scavenger hunt. Learn more about the scavenger hunt and how you can win big here. YASC attendees can stay connected with conference news and share their experience on social media using the event hashtag,...

Airbnb announced the official launch of its multifamily housing program. The Friendly Buildings Program welcomes collaboration with apartment owners and addresses their apprehensions regarding transparency and accountability—that is what it attempts to do, at least. Nearly 35 percent of multifamily property owners are interested in a home-sharing program and 24 percent of owners were unsure, reports the new National Multifamily Housing Council (NMHC) home-sharing survey. Nearly 60 percent of multifamily property owners are open to the idea of Airbnb onsite. The market is a powerful growth opportunity for the company if it can overcome owners’ concerns. In the past, apartment owners routinely resisted the use of their properties for short-term rentals. The legalities of renter subleasing and inadequate insurance provisions topped the list of objections. Security and accountability trailed close behind. The Friendly Buildings Program proposes the following solutions: The program brings property owners into the loop of transactions. Owners can establish parameters for unit-sharing, including restrictions. Short-term rental provisions are made easy through lease addendums. Owners are notified of home sharing activity including reservation details and guest information. Owners receive regularly scheduled activity reports. The program protects against liability claims up to $1 million USD that occur in a listing as well as up to $1 million against third party claims of property damage or bodily injury. Kim Duty, Senior VP, Public Affairs & Industry Initiatives at NMHC summarized many owners’ thoughts on the insurance proposal, “A $1 million insurance policy is not close to enough to cover the potential risks.” Until more can be done to reduce liability, Airbnb faces a formidable obstacle. Most owners won’t move forward without a feasible insurance solution. Mark Stringer, executive Vice President at Avenue5 Residential took a quick survey of the room. More than 75 percent of...

At the beginning of 2016, iMS GmbH of Mainz, Germany, a software systems provider for real estate management, was acquired by real estate software leader Yardi of Santa Barbara, Calif.. In Germany, iMS is now Yardi Systems GmbH. Yardi’s German operations are now run from Mainz. We spoke to Dr Klaus Grüning, Director at Yardi Systems GmbH, and Richard Gerritsen, Regional Director of Sales Yardi Systems Continental Europe, on the progress of integration. How did iMS employees react to the acquisition news? Grüning: The change from a small German company with 20 employees to an international company with over 5,000 employees certainly requires some reorientation here and there. It is very helpful in this case that Yardi is also a company managed by the owner. CEO Anant Yardi’s visit to Mainz in the week immediately after the takeover dispelled many doubts of employees and restored people’s confidence. How did iMS’ existing customers respond? Grüning: Customers responded differently, as we expected. Firstly, customers are impressed with Yardi’s position as technology leader and its international character. New options such as cloud and mobile computing have met with unanimous approval among iMS customers. On the other hand, they are worried that cuts will affect further development of iMS’ solution and its flexibility. Anant Yardi’s visit and his charisma and trustworthiness vis-à-vis customers was also very helpful. What prompts a global company of over 5,000 employees to have an interest in a German company with a team of just 20? Gerritsen: Yardi, with its Voyager software that was introduced to the German market more than 12 years ago, was already one of the top five companies in the market segment for real estate software. However, in order for an international software company to achieve a large market share...

The semi-annual Yardi Advanced Solutions Conferences (YASC) take place on the West and East Coasts, providing clients with the opportunity to attend an event close to home. Each conference offers specialized courses on product features, networking opportunities, and one-on-one consultations with Yardi representatives. At YASC in Washington, D.C., Yardi sat down with Mariana Estrada, VP of Operations at Roscoe Properties. The company has had the opportunity to explore several products since joining the Yardi network in 2008. Estrada updated Yardi on her experiences with the software. Estrada began with Yardi Procure to Pay (P2P), a centralized platform that offers complete spend visibility, streamlined invoice processing, centralized MRO purchasing and vendor onboarding.  “The concept of P2P is exactly what we believe in – a paperless, time-saving option. We have a decentralized payables process so our onsite teams are responsible for processing payables and expense management at the site level. The time they used to spend filing and processing paper invoices is now time they can spend serving current residents and attracting new residents,” says Estrada. “And now with the Marketplace, we’re gaining even more time savings and streamlining our purchasing process even further. We just implemented one of our major vendors and Yardi was able to create an online catalog for us.” Yardi Marketplace furnishes access to more than 1 million MRO products and building materials. The program also delivers the best available discounts from nationally recognized suppliers. “The Marketplace has an Amazon-like interface everyone knows how to use,” Estrada explains, “so there are virtually no issues with training our maintenance and site teams. A few mouse clicks and the PO is created and the order placed. Since the users don’t need to re-populate line item details, they are able to move invoices through the processing...

NEW YORK (Sept. 7, 2016) – Real estate technology provider Yardi is part of the first-ever Forbes 2016 Cloud 100, the definitive list of the top 100 private cloud companies in the world, developed in partnership with Bessemer Venture Partners. To view the list, please visit www.forbes.com/cloud100. The list will appear in the October 4, 2016 issue of Forbes magazine. “We’re honored that Forbes chose to recognize our efforts to provide industry-leading cloud solutions for our clients,” said Anant Yardi, founder and president of Yardi. “This is a tremendous acknowledgement of the work we have done over the last decade to transition our products and clients to the cloud.” “Cloud companies are revolutionizing how businesses reach their customers today from digitizing painful old processes to allowing them more time to focus on what they really care about—what makes their products unique,” said Forbes editor of the Cloud 100 list Alex Konrad. “Inclusion in the Forbes 2016 Cloud 100 list recognizes a company for its financial growth and excellence as recognized by customers and peers.” “These are the companies to watch!” said Byron Deeter, a leading cloud investor and partner at Bessemer Venture Partners. “The Forbes Cloud 100 companies represent the very best private companies in cloud computing. We will see category killers emerge from this list as the cloud computing continues to propel the trillion-dollar software industry.” The first-ever Forbes 2016 Cloud 100 list profiles the world’s top-tier private companies leading the cloud technology revolution, plus twenty rising stars within the field. With advancements in software, cloud security, or platform development, these companies are redefining the future for all industries and sectors. Yardi is No. 27 on the list, which includes companies like Slack, SurveyMonkey, MailChimp and Squarespace. Forbes, in partnership with Bessemer Venture...

For more than a decade, Dirk Völkel has channeled his passion for retail asset investment into his company, VÖLKEL COMPANY Group, which provides real estate management services in Germany.  Founded in 2004, the company today operates 170 properties valued at 1.3 billion euros and handles a high volume of transactions from offices across Germany. “Our business is family-driven and focused on maintaining long-term relationships with clients,” said Völkel, the company’s founder, main shareholder and managing director.  “We are a one-stop-contact in Germany, capable of providing the full spectrum of investment advice and services.  Some of our team members have been working in the field for up to 25 years, so we know the difference between real experience and merely good marketing.” Individual client service A special point of pride for Völkel is the degree of personal service his company delivers.  “For some large, long-established companies, any given client is one among many.  For us as a mid-size company, every client is important as an individual, and we take every client seriously. In an era that has seen the outsourcing of many services, our services are 100% “Made in Germany,” he said.  “We handle investments as if they were our own money. We are proud of the good references we have earned.  In fact, much of our new business comes from word of mouth among investors who are satisfied with our services.” While justly proud of his company’s achievements in offering engaged, flexible, quick and successful investment services, Völkel knows well enough that continued success depends on maintaining a keen focus on the future, rather than dwelling on a distinguished past.  “We constantly work to improve our high-quality services.  Not only that, we continuously measure our clients’ expectations of us.  As one extremely important example,...

Online leasing isn’t just for the big guys anymore. If you’re a small to mid-sized property management company, technological advances in rental property management software are making it possible to complete the leasing lifecycle entirely online. Get ready to conduct more business, better business, and quicker business with a nifty little innovation: electronic signatures. Electronic signatures – also called e-signatures – are easy to use, a snap to implement, and convenient for everyone involved. They are a legal and secure method to sign and submit lease documents day or night from almost any internet-enabled device. It’s the modern way to lease, for both renters and landlords! 7 benefits of using e-signature for leasing Add convenience for prospects. Adding online applications and leasing to your property websites makes it possible for prospects to start the leasing process from their desktop or mobile device right away. If you offer comprehensive price and lease term selection, self-screening capabilities, and renters insurance fulfillment, everything they need to become a renter is all in one convenient place. Save applicants time. Approved applicants can complete their leases instantly. They don’t have to wait for the next business day or until so-and-so is in the office again. They can sign and submit their leases from anywhere – even if they’re out of state or on vacation in another country – and take the next step to getting the keys faster than ever. Automate document processing. Leasing agents are now able to automatically produce electronic lease documents that contain all necessary data, including spaces for electronic signatures. Save staff time while you simultaneously reduce the risk of human error. Speed up lead processing. The above makes it possible to convert leads to leases in a flash. No more updating files by hand,...

Currently serving as Yardi Vice President of PHA and Affordable Housing Sales, Boone Atkins also spent decades as a Yardi user. With more than 22 years of experience in the real estate industry, Yardi gained a valuable asset when Boone shifted from a client into a leadership position in December 2014. “I met Anant Yardi in the early 90’s when I began working as a consultant and in executive positions for companies using Yardi software. From a client and employee perspective, my impression of the Yardi company has never changed. Yardi is truly dedicated to the mission of helping clients and employees succeed and grow,” said Boone. Atkins sees trends in the affordable housing and PHA industry as similar to market rate multifamily housing. “Our affordable and PHA clients want technology to help them become more efficient. No matter the industry vertical, it is all about getting the biggest bang for their buck.” Read on for more insight from Boone Atkins in our latest installment of the Yardi Leadership Series. When did you join the Yardi team? Atkins: My shift from Yardi client to employee happened in December 2012. In total, have more than 22 years of experience in the real estate industry. My current base of operations is Denver, but I’m on the road a lot with clients and staff. Did your impression of Yardi change once you became an employee? Absolutely not! This company is dedicated to the mission of helping clients and employees succeed and grow, and that’s never wavered in all my years associated with Yardi. How does Yardi help affordable and PHA clients become more efficient through technology? Atkins: We’re delivering on that expectation by automating and streamlining workflows for affordable housing compliance, ad hoc reporting, dashboard analytics, business...

The invitation-only Yardi Marketing Forum is designed to help professionals excel in marketing multifamily real estate. Attendees participate in focused discussions, interactive training, and engaging social activities—but first, they designated time to uplift the local community in Seattle. For the second segment of this biannual event, clients representing more than 35 companies from throughout the U.S. convened in Seattle. The forum kicked off with a welcome reception at W Seattle before heading to Cooking for a Cause at Blue Ribbon Cooking School. Cooking for a Cause is a corporate team building initiative that benefits local charities. For this event, the Yardi team volunteered to support ROOTS Young Adults Shelter, a nonprofit organization that fosters dignity for its clients through access to essential services and a safe place to sleep. One of the most essential services is access to a healthy meal. Cooking for a Cause participants prepare top-notch meals for those in need. The menu for the Yardi team included shepherds’ pie, grilled lime-marinated chicken and veggies, truffle mac n’ cheese, and chocolate molten lava cake for dessert—all from scratch. The group divided into teams with a chef at each helm to ensure smooth operations and delicious results. Participants peeled, chopped, diced, grilled, and baked together. A conga lined helped pass the time as the participants waited on the ovens. Cooking for a Cause was a huge success. The group furnished hundreds meals for ROOTS Young Adults Shelter. “It was a really fun experience. The atmosphere was…warm,” laughs Geneva Ives, marketing writer on the Yardi team. “We were in there cooking up a sweat! But it was also fun, friendly, and energetic. It was a nice collaborative effort.” Of course, the novice cooks reaped the benefits of their labor. The team enjoyed a meal...