Choosing the right property management software determines the efficiency and productivity of your organization. Jumpstart your selection process with these eight simple questions. Is the software installed at the premises or cloud-based?This is a matter of preference. Some organizations prefer installed software because data access does not depend upon an internet connection. The industry, however, shifts towards cloud-based platforms. Such web-based software permits users to access the data in the office, in the field and anywhere in between. Cloud-based solutions often include updates for the latest improvements and changes in compliance. Staff is free to focus on their roles, not the nuances of software.   What security and backup procedures are available? Cloud security services combine convenience with safety. Ensure that your cloud-based software offers data recovery, encryption and around-the-clock server operation monitoring.   Is the pricing model determined by the number of users or units? Software may be priced per licensed user or per unit. Licensing by user may be convenient for organizations with few employees and limited plans for growth. Pricing by unit allows the greatest flexibility and scalability. Staff growth and software usage are not hampered by paid licenses.   Is the product out-of-the-box or customizable? Turnkey solutions offer the ability the hit the ground running. Customizable systems will suite your portfolio more precisely and grow with you as your needs change.   Does the software integrate with other services necessary for your business? A fully integrated platform makes daily operations easier. The suite keeps data consistent between services such as accounting, leasing, resident screening, marketing, maintenance, and utility billing.   When is technical support available? Emergencies don’t wait for convenient office hours. Check support service hours to ensure that you can receive assistance on weekdays as well as weekends. Read...

When it comes to Excel, there are two kinds of users: those who love it, and those who love to hate it. Regardless of which camp you’re in, there’s no denying the ubiquitous tracking tool has earned its role as a mainstay in offices in every industry across he world. But as the complexities of business have grown, so has the need for flexible tracking tools—a fact that’s increasingly obvious in senior living. With many different levels of care, various floor plans, myriad amenities and portfolios of communities, new time-saving tools can have a huge impact. In this post, we’ll examine common budgeting and tracking challenges faced by senior living operators and a solution that makes all the difference. The challenges: Antiquated systems are inefficient Since most companies purchase office software packages, it seems most cost efficient to use the spreadsheet that’s included to record and analyze the organization’s budgets. And while that strategy is an effective way to save money on paper, creating a scalable document to track all business operations from a blank tab in Excel is incredibly painstaking and time consuming—and once it’s been created, maintaining the document is no easy feat. If you recall the concept of opportunity costs from freshman economics, you’ll begin to understand that there is no efficiency in sapping countless man hours to make a tool not created for your business actually work for your business. Versions get outdated quickly—and aren’t easily shared Have you ever wasted time updating a spreadsheet only to find that you weren’t looking at the latest version? One of the most common frustrations with using static spreadsheets, rather than live solutions which are updated in real time, is the data becomes stale quickly, especially when multiple teams are making edits. On...

The evolution of the flexible office sector has shaken up the real estate industry and has arguably changed it for the better. Yardi recently brought together a panel of experts in the UK to discuss the many segments of flexible offices and what lies in store for the sector. Mary Finnigan, head of transactions, real estate, WeWork Chris Pieroni, operations director, Workspace Group Adrian Goldney, co-founder, Flexible Office Space John Williams, head of marketing, Instant Group Joff Sharpe, head of operations, British Land Tony Freeth, director coworking, Yardi Europe Liz Hamson, editor, Property Week – chair   LH: With all the different definitions out there, what should we be calling the sector? Should there be a standard definition or does it really matter? CP: All the definitions out there are very different – hybrid, coworking, flexible, service – and then you’ve got all sorts of issues around whether they are an operator or a landlord and then you’ve got all sorts of issues about what sort of services are offered; whether they are exclusive or not. And it’s really complicated to pull all the data together and try to get an understanding. I’ve got my own view on where we stand in the flexible office market and we didn’t fit into any of the definitions. We’ve decided to just look at the flexible market.   LH: So what do you define flexible as? CP: So we had three different categories – something under three months, and then we stopped at over 12 months. But actually, I think now as larger corporates want flexibility, you might be saying flexibility for them is three years. So I don’t know, but we stopped at over 12 months. JS: I don’t think the starting point is flexibility; it’s...

Building your property management business can feel like you’re aiming at a moving target. Changing industry expectations and trends may leave you clamoring for solutions. These five, timeless tips for excellence in property management can help you take your organization to the next level. Offer competitive conveniences for renters. Residents and prospects expect flexibility. Whether they prefer to interact with you online or in person, have systems in place to accommodate them. Enhance your website with online leasing, digital payments, and online maintenance requests. For those who embrace person-to-person interaction, build positive relationships with customer relationship management tools. Improve efficiencies with end-to-end property management software. When you operate efficiently, you can offer stellar services at lower costs without decreasing your profit. Begin with a software suite that automates back office tasks like accounting, reporting and compliance. Achieve efficiency with Yardi Breeze for small and mid-sized properties or Yardi Voyager for larger residential and commercial portfolios. Empower employees through education. The best software is powerless without a team that understands how to use it to its fullest potential. Online learning encourages your team members to learn at their own pace. Staff will also be able to access classes and review as needed, without costly and time-consuming training. Optimize revenue opportunities. There are several ways to boost profits without increasing rent. Some methods will require the property owner’s involvement while others you can pursue alone. Once you’ve explored your options, you can use the improved profitability of one property to pursue similar changes at other properties that you manage. Be proactive about your online reputation. Make it easy for tenants and prospects to get in contact with your team to intercept issues before they appear online. When negative feedback arises, address it promptly. Be sure to...

Online payment processing is quickly becoming the industry standard. If you’re on the fence about making the switch, here are eight excellent reasons for you to upgrade with confidence. 8 Reasons to Upgrade to Online Payments Gain the competitive advantage. Research by the Association for Finance Professionals reveals that nearly 80 percent of organizations are transitioning to electronic payments. If you’re one of the few businesses not making that transition, you may lose clients to your competitors. Eliminate redundant data entry. Using an online payment system cuts back on data entry and subsequent errors. This is especially true when it integrates with your property management accounting software. After a payment is made, user data automatically populates in the system. Offer flexibility to your residents. Nearly 80 percent of residents prefer to pay rent electronically. With online payments, residents can easily submit payments 24/7 from their desktop or mobile device. Enjoy fewer late payments. By increasing convenience, many users have witnessed a decrease in delinquencies. Mariana Estrada, VP of Operations at Roscoe Properties says, “For the month of May, we collected 95% of payments, on time and electronically, thanks to Payment Processing. That’s massive! That’s money in the bank without any staff intervention.” Lower costs for you and the environment when you go paperless. An article in CFO Magazine explains how electronic payments work out to be 10 times cheaper than paper checks. Among the data, analysts note that the total cost of an ACH transfer is between 25 cents and 60 cents. (The range depends on several factors.) A paper check, however, sets businesses back between $1.25 and $3.00. Decrease the need for storage. Paper record storage becomes a costly battle for square footage. With electronic payments, all of your data is securely stored...

Leading executives will head to Washington D.C. this November to attend one of the senior living industry’s preeminent annual events, the Argentum Fall Symposium. The conference is set to take place November 8-10 at the Courtyard Washington Downtown Convention Center. The event program features three areas of focus for attendees to choose from: sales and occupancy, quality and operational efficiency, and workforce development. Sessions will focus on generating powerful business ideas to improve operations, including the importance of developing an organizational culture that will attract and retain top talent. Yardi is the sponsor of the conference keynote presentation given by Dee Ann Turner, vice president of sustainability for Chick-fil-A and corporate talent expert. Turner brings more than thirty years of experience hiring and developing talent and transforming organizational culture. She works with companies around the globe, helping transform businesses with an “It’s my pleasure” service model. According to Turner, two of the most important differentiators of a business are its talent and its culture. She believes businesses are built by growing relationships with customers and culture is created by the stories those relationships tell. When companies recognize the value of individuals, they succeed not only ethically, but financially as well. “We’re not in the chicken business, we’re in the people business,” says Turner of Chick-fil-A, which was named the number one fast food restaurant in America. “For us, in our quest to impact lives, selling chicken is only a means to an end.” She learned all the wisdom she shares from Chick-fil-A’s founder, Truett Cathy, who was known for recruiting top-tier talent and cultivating and nurturing a culture rooted in integrity, loyalty, generosity and excellence. “A company’s culture is its soul. It will define the way employees interact with one another and guests and has the potential to reach...

In September, Yardi reaffirmed its longstanding commitment to Australia’s property industry by supporting—for the tenth year—the highly successful Property Congress in Darwin, Australia. As Principal Sponsor, Yardi was proud to join the Property Council of Australia in hosting nearly 800 delegates from across the property industry. The attendees discussed the latest challenges, trends and opportunities facing the industry—and the future for Australia that the delegates are helping to build. The event began with celebrations. On the conference’s eve, Yardi hosted a party at Darwin’s bustling Mindil Market that featured a spectacular sunset, sumptuous food, a fire dancer, a didgeridoo player (for those who might not know, that’s a wind instrument developed by indigenous Australians) and lots of good fellowship. With the party successfully wrapped up and new connections established, it was time for the main event. This year, The Property Congress was focused on major issues driving property development and investment in Australia and globally. With established and emerging leaders in the commercial, residential, retail, industrial, development, retirement living and investment sectors in attendance, it was a unique chance to hear from a wealth of thought leaders about the fundamental issues affecting our industry now and in the future. While all guest speakers from the two-day lineup were remarkable in their own right, highlights included: Headline keynote speaker Sir John Key, a former New Zealand prime minister, who touched on a range of current topics including leadership qualities, American tax and trade policy and housing issues. Noting the high growth rate of Australian urban developments, he urged a thoughtful planning process that integrates communities and connects them with transport. He also didn’t miss the opportunity to discuss the constantly-changing Australian political landscape, commenting that by the end of his political tenure he would ask...

Akshai Rao’s path to Yardi wound from Austin, Texas, where the vice president of Procure to Pay earned his bachelor’s degree before taking a job in Northern California. He then went to Michigan for business school and Boston for another job before landing back in Austin as a Yardi employee in 2013. Today Rao oversees client services for Yardi Procure to Pay, an end-to-end procurement, vendor management and electronic invoicing platform. He shared highlights of the platform with us in a recent interview. Q: What matters most to property managers who deal with goods and services procurement? A: They want to perform their back office tasks, especially procurement and accounts payable, more efficiently. That lets them spend more time on front office duties, such as building compliance and customer services. Q: Can you describe how the elements of Yardi Procure to Pay meet those priorities? A: We provide one platform for the entire procure to pay process—approval workflows for purchase orders and invoices that are consistent with the client’s process, plus online purchasing, vendor management, outsourced invoice management and vendor payment services. All of these processes are accessible in real time and built into the Yardi Voyager® property management and accounting platform. Yardi has documented client savings of up to 80% on per-invoice costs and 75% on per-invoice processing time. A single connected procurement solution makes day-to-day purchasing, payment and vendor management as simple as possible. In addition, we’re building a robust analytics package to help clients pinpoint areas in which they can make process improvements.  We can compare our clients’ processes to industry benchmarks, and make recommendations to improve their current processes. Yardi Bill Pay, which is part of both Yardi Payment Processing and the Yardi Procure to Pay Suite, outsources check, ACH...

Celebrating 20 years, Yardi Canada has come a long way. As a leading innovator that delivers technology solutions to move the Canadian real estate industry forward, Yardi Canada focuses on helping clients thrive through every change. We caught up with a few of Yardi Canada’s leaders to learn more about the company’s evolution. From DOS to Windows to Internet based web apps to mobile apps and now on to artificial intelligence, Yardi has always been there with a solution for its clients. Here are a few technological highlights from the past two decades. A Unique Market Mobility and the cloud might reign now, but it all began with DOS. Introducing real estate companies to new technologies to improve business operations has never been an easy task. As Canadians, we tend to be a little more conservative when it comes to change. However, Peter Altobelli, general manager and vice president of sales for Yardi Canada, found it was easy to bring Yardi’s three DOS products to market: Yardi Basic, Yardi Deluxe and Yardi Premier. “DOS was a great product to implement since it was reliable, simple and easy to use. It was a technology that property managers understood. Plus, it had all these great shortcuts, because we didn’t have a mouse back then,” recalls Altobelli. Altobelli set up Yardi’s first office in Canada in 1998, which started with four people and now has grown to a staff of over 200. Today’s multitasking generation, accustomed to multiple windows and screens, would feel restricted with a DOS platform. But back then, users could accomplish single functions at a time quickly and efficiently. It was exactly what the industry needed as a catalyst towards more technology and innovation. Moving to the Internet At every innovative milestone, Yardi Canada...

Yardi president and founder Anant Yardi welcomed 2,500 clients to the Hilton San Diego Bayfront on Wednesday for the largest Yardi Advanced Solutions Conference (YASC) ever. “2500 is just such an incredible number. I recall when we had around 150 to 200 clients at our first YASC,” Mr. Yardi said. “We truly hope this conference is enjoyable and educational for you.” Yardi clients around the world can attend YASC events to gain product knowledge in training classes, troubleshoot issues with their current Yardi software, view product demos, network and much more. The two U.S. events take place each fall on the West Coast and spring on the East Coast. Mr. Yardi talked to the general session audience about the company’s overall road map for product development, which includes the newly released Yardi Elevate suite. Introduced at YASC DC in May, Elevate incorporates big data, machine learning and AI to offer predictive insights and is very popular with its beta users. “Our clients are very enamored already by Elevate. I think it’s going to do wonderful things for you,” Mr. Yardi said. While Elevate may be the wave of the future, in the present Yardi clients are continually working to gain new efficiencies for their business, whether that involves collecting rents, paying vendors, or marketing their properties. A video featuring 22-year Yardi client Marquette Management of Chicago and its use of the RentCafe Reach marketing platform was shown during the session and prompted Mr. Yardi to reflect on how far the company has come. When Marquette came on board in 1996, they purchased Yardi’s first generation Enterprise platform. “I was the principal programmer on Enterprise. Isn’t that something how time has gone by,” Mr. Yardi said. Today, most Yardi clients across all real estate verticals...

The Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV), in partnership with the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the National Council of Real Estate Investment Fiduciaries (NCREIF) recently released its annual Fund Manager Survey results. The report identifies top 10 real estate fund managers lists globally and by geographic region based on total assets under management (AUM). ANREV is the Asian association for Investors in Non-listed Real Estate Vehicles. ANREV is Asia Pacific’s leading platform for the sharing of knowledge on the non-listed real estate funds sector. Its goal is to improve transparency, professionalism and best practices across the industry, making non-listed real estate funds more accessible and attractive to investors. More information is available at anrev.org. The 2018 survey included 162 fund managers representing a total AUM of US$2.8 trillion at the end of 2017, an 11.8% growth over the previous 12 months. Yardi is proud that 50 percent of the top 10 managers listed today use Yardi software. Yardi clients also account for half of the top fund managers found on each of the North American AUM, European AUM and Asia Pacific AUM lists. “The ANREV/INREV/NCREIF survey provides a valuable annual industry yardstick for global real estate investment,” said Robert Teel, senior vice president of global solutions for Yardi. “We’re delighted that the 2018 survey demonstrates our clients’ trust in Yardi to provide a complete investment management solution for real estate asset and fund management, which enables in-depth insight into portfolio performance and accurate, timely investment reporting.” The survey also revealed that pension funds are the most significant source of capital for real estate across all regions, with sovereign wealth funds and insurance companies also being significant sources of capital. Organization members can access...

Demand for public housing assistance far outweighs the available supply in nearly every community nationwide, but the challenges can be especially great in California. The Housing Authority of San Luis Obispo (HASLO) and the Housing Authority of the County of Santa Barbara (HACSB) are prime examples of public housing agencies challenged with creating housing opportunities for low-income residents. There is never a slow work day for HASLO or HACSB, and the mere opportunity to join a housing assistance waiting list can create a frenzy of activity. “The vitality of every community is dependent on housing that is attainable for all income levels, and public housing agencies add incredible value to the regions they serve. The magnitude of their waiting lists, nationwide, is a great demonstration of the scarcity and value of affordable housing,” said Boone Atkins, vice president of affordable housing and PHA sales for Yardi. A PHA waiting list includes households seeking public housing units, housing choice vouchers and affordable housing. Given the local market conditions, those lists would grow daily if the HASLO and HACSB kept lists open to new names permanently. However, closing waiting lists to new households is just one way to keep the lists under control. Another way to maintain PHA waiting lists is periodically purging the names of households who are no longer seeking assistance. Purging PHA waiting lists has historically been a labor intensive process requiring envelope stuffing and data entry. PHAs also incurred costs for postage and paper to facilitate mailing forms to thousands of waitlisted households. RENTCafé PHA, and its embedded Save My Spot waitlist management feature, can mitigate those costs. Yardi is the only PHA software provider offering a modernized waitlist management solution, bringing relief to a longstanding industry issue. A Primer on RentCafe...

It’s 6:30pm. Your senior resident’s daughter has made it through traffic just in time to pick up her son from band practice. Now she’s got to rush to the pharmacy to pick up your resident’s refill and make it to the community in time for her father’s evening application. But before she does that, she has to visit your leasing office to pay the rent and remind the agent about the leak in the bathroom–all before the office closes at 7pm. While she is driving, exhausted and stressed, she gets a call from her friend. Her friend’s mother is in a comparable senior living community that offers rent payments, maintenance requests, and an ability to communicate with clinicians through an easy-to-use online portal. That portal can be accessed on any mobile device. Your resident’s daughter is suddenly having second thoughts about your property—and rightly so! Our busy lives benefit from the modern conveniences of digital and mobile services. Senior care is no different. The RentCafe Senior Living portal helps users achieve greater work-life balance through improved daily efficiencies and conveniences. For Families RentCafe Senior Living offers time savings and ease-of-use for family members. Users can manage payments, make maintenance service requests. and even track progress on maintenance orders. They will know when the issue is resolved and their loved one is living comfortably again without making a dozen calls to your office. RentCafe Senior Living connects seamlessly with CRM, EHR and mobile tools. Families can effortlessly request updates from the community regarding prescription refills, review health information and communicate with care providers on their loved one’s progress. With these tools, site visits are for time with loved ones, not resolving issues and running errands. Through the online portal, family members can even check out...

When it comes to shared workspaces, we know technology is a major driving force. Today we look at some of the most important workspace technology trends shaping the coworking industry. The Internet of Things What is the IoT? Basically it is the connected amenities we use daily to send and receive data. The IoT includes physical devices such as virtual assistants, vehicles, appliances, smartphones, and just about anything else you can think of. Like this Forbes article suggested nearly 4 years ago, anything that can be connected, will be connected. What do we want in a coworking space? Smart connections. Building community. Enhancing relationships. The IoT improves the atmosphere and the benefits of a shared workspace. IoT powers meeting spaces, runs automated coffee machines, controls keyless access systems, promotes energy saving and much more. The uses of IoT are endless and only growing. By 2020, the number of connected ‘things’ is expected to reach 50 billion, and an estimated 99% of those ‘things’ can be further optimized. 94% of offices that chose to implement the IoT have already seen a return on investment. The future is only going to bring wider implementation of the IoT in shared workspaces. Mobilization Just about anything can be done via a mobile device today. And in the very near future, that ‘just about anything’ will become ‘literally everything’. Mobilization of our world is happening faster than any other aspect of our business lives. You can successfully run your coworking space from anywhere in the world via mobile phone, laptops, tablets, and more. This is allowing operators to work on expansion, design concepts, marketing, and many other aspects of running a workspace while the day to day running of the space basically runs itself. There’s so many coworking-relevant apps that it can be hard...

Just a few years ago build-to-rent (BTR) was a rarely used phrase in the UK. Now it is one of the hottest real estate sectors around. A think tank of leading experts convened by Yardi and Property Week discuss the extent to which BTR has matured, the challenges it still faces and where the sector will go from here. The Think Tank Panelists: Andrew Cook – investment manager, M&G Real Estate (AC) Lora Salomidou – product owner, The Collective (LS) Rebecca Taylor – investment director, Long Harbour (RT) Katherine Rose – director of data & advisory services, Prsim (KR) John Dunkerley – chief executive and co-founder, Apache Capital (JD) Russell Markou – head of PRS operations,Tipi (RM) James Pargeter – projects director, Greystar Europe (JP) Chair: David Parsley – contributing editor, Property Week (DP) DP: How far along is BTR to becoming a mature market and is it now considered an institutional-grade investment? JD: There’s a big difference in people’s perception of where they think it is and where it actually is. There are 110,000 BTR units under construction or in planning. I don’t think we’re really scratching the surface yet. I don’t think it’s as advanced as people think it is. LS: The Collective has come from a slightly different angle to BTR and is focusing more on the consumer. The main reason we have got to where we are with BTR is because there has been a fundamental change in the expectations of consumers. The investors’ point of view is slightly different, but if we compare the return on investment from BTR to build-to-sell it is very different, because investors don’t have to manage the property – companies like us do it. JP: It’s certainly not yet mature in terms of finished...

It’s 2020 and there are still plenty of multifamily properties that are missing out on the benefits of electronic payments. If you’re still not sure if electronic payment processing is worth it, below are five great reasons to make the switch. Show prospects that you are not a dinosaur. Today’s renters expect electronic payments. A study by the NMHC/Kingsley reports that 92 percent of respondents consider online rent payment an important resident portal feature. If you’re operating under an outdated paper system, you’re making your neighboring competitors more appealing. Vendors will dig your modern ways, too. Vendors want to know that they will receive prompt payments for their services. Electronic payments eliminate the “check is in the mail” delay which can improve your relationship and promote faster service in the future. Make it easier for residents to give you their money. Electronic payments offer convenience, versatility and instant confirmation. That’s why 78% of renters prefer to pay electronically! You can also eliminate lost check disputes. All electronic payment transaction can be easily tracked. Automatic record keeping benefits you and your residents. Receive more payments on time. When residents can pay by ACH, debit or credit card, text, and WIPS they are more likely to pay on time. (Who wants to pay late fees?) Yardi client Roscoe Properties’ Mariana Estrada, Vice President, Operations explains, “We collected 95 percent of payments due — on time and electronically — thanks to Yardi Payment Processing. In the first week of the month we collected $9 million across our portfolio. That’s money in the bank without staff intervention.” Make bookkeeping easier. Automated payments save time and improve accuracy. Each transaction is organized and automatically entered into Yardi Voyager. There are no bank runs or batches to mail to corporate....

A recent National Apartment Association study about apartment residents’ familiarity with and attitudes toward energy efficiency was the focus of an energy management panel at the recent Apartmentalize Powered by NAA conference in San Diego. The “Get Residents and Keep Them with Energy Efficiency Engagement” panel featured Martin Levkus, regional director for the Yardi Smart Energy Suite; Lexie Goldberg, senior associate for sustainability at Greystar; and Mary Nitschke, director of ancillary services for Prometheus Real Estate Group. Jenifer Paneral, senior vice president of operations at DayRise Residential LLC, served as the moderator. Last fall, NAA commissioned the Shelton Group to conduct a survey of 1,000 renters to understand the role of energy efficiency in choosing and staying in an apartment. The results were shared in Units magazine in June 2018 and presented to session attendees at Apartmentalize. The study revealed that property managers and owners can maximize resident engagement with energy efficiency. The study also found that mentioning energy efficiency at the first touchpoint is an opportunity to “get residents.”  Twenty-five percent of residents participating in the survey said that knowing an apartment’s energy efficiency impacts their rental decision. According to Levkus, property managers can promote sustainability by making it convenient—and the key to convenience is technology. “Providing a portal that allows residents to easily view their consumption and pay their bills online empowers them to make changes that save money and make the property more sustainable,” he said. “Renters also like smart devices such as thermostats that increase their comfort but also reduce consumption and save money. The thermostats power down heaters and air conditioners when the unit is unoccupied.” Goldberg spoke of the importance of making energy and sustainability prominent on a property website. She described a Greystar community’s home page that...

Yardi’s Rob Teel, senior vice president of global solutions, and Todd Huebsch, vice president of commercial sales, discussed key trends in the commercial real estate industry in interviews at the recent Realcomm and IBCon conferences. Excerpts follow. Q: What are some key shifts that you’re seeing in commercial property management? Huebsch: From an enterprise platform standpoint, software products historically have been developed for people in back office operations such as accounting and property management. Now we see the emphasis rapidly changing to the front office—people in the field who are managing leases, construction projects and facilities. Enabling that move is a series of mobile apps and role-based tools that simplify tasks and help front office people do their jobs faster, easier and more efficiently while seamlessly connecting to the back office. These new capabilities speak to reducing risk and increasing asset value Q: What is Yardi’s primary focus area at present? Teel: There are three. One is Yardi Elevate, which, in contrast to the traditional chief financial officer focus of property management software, is tailored to a chief operating officer whose direct reports might include the leaders of leasing, asset management, construction and facilities management. Another key focus is energy management, which addresses the needs of COOs and chief engineers who are looking to reduce consumption and expenditures and boost sustainability. Yardi has made five acquisitions in three years in this area and it’s one of our leading long-term strategic visions. And coworking has gone through a revolution in the last two years. Today about 1% of commercial offices in the U.S. are tagged as coworking space but we think it might go to 5-10% in the U.S. and globally within a few years. We made two acquisitions that brought us the Yardi KUBE...

LONDON – The evolution of the retail store in the face of growing online sales has been much written about, but shopping centres also can’t afford to be left behind in the age of ecommerce and changing technologies. This Retail Week report – produced in association with Yardi – explores how retailers view shopping centres and ways that centres can create an environment in which retail doors not only remain open, but thrive in a digital era. Based on interviews with 50 retail directors responsible for store portfolios – each representing a company with a turnover of between £50m and £10bn – the report finds strong similarities in what retailers want from shopping centres, and reflects changing shopper habits. Key themes are explored around how shopping centres can better support retailers, including expectations about infrastructure for technology and data, as well as how they can attract new entrants. The right mix between retail, leisure and dining is a fundamental attraction, while providing wi-fi is a prerequisite for retailers setting up shop in malls, which has both customer-facing and operational benefits. The future opportunities for shopping centres to enhance their performance, while diverse, are all underpinned by robust data. Decisions are increasingly data-led, and while current platforms – typically management software and spreadsheets – for data sharing have been well-received by retailers, there’s a strong feeling centre owners could provide more information. In particular, they want detail about footfall, dwell time and average spend, to better understand the local catchment and to adapt store space accordingly. Common themes for shopping centre investment over the next 12 months, according to our surveyed retailers, include keeping up with new technology, integrating ecommerce and opening new stores – all of which are elements that new entrants such as...

Let’s face it: it’s hard to stay active in a corporate setting. Encouraging employees to live a healthy lifestyle while also expecting eight hours of productivity—often in front of a computer—can be a challenging directive. But what if an event was fun, healthful, and allowed employees to bond by overcoming adversity and encouraging one another? That event is the Fit4Life Corporate Challenge Program. Hosted by Tata Consultancy Services (TCS), Fit4Life is a 10k race that promotes physical fitness and unity amongst teams of at least four participants. Race participants are encouraged to train together, motivate each other, and reach new personal goals by race day. Yardi Pune represented well this year with 291 employees. There were 69 women in the group, a spectacular turnout. Rushabh Mutha, Associate Client Account Executive, CSD at Yardi was one of the proud participants. He recalls, “Race day was very pleasant. In the morning, the weather was a bit chilly. In spite of the cold, I was very excited. Everyone was so full of enthusiasm.” Mutha adds, “The arrangements made by TCS were very nice. There were large, festive markers for the start and finish line. There was also a place where you can take a picture that says, ‘I am a finisher.’ I felt very proud to participate.” Undoubtedly, Mutha’s favorite part of the event was finishing. “The most fun part was completing the race and holding the Yardi trophy!” he smiles. The event was particularly special for Mutha because it was not only his first race, but it is also his first year with the company. Fit4Life encouraged him to meet new coworkers and develop stronger relationships with familiar faces, all while getting fit. “As I just joined the company, it was fun meeting other Yardi employees,...

The End Hunger Games have been a Foodbank of Santa Barbara County tradition for five years. This winter holiday campaign adds a dose of friendly competition to local corporate philanthropy. Each year, 10-15 corporate teams compete to be crowned as the biggest givers. Yardi has participated in the End Hunger Games since its inception. “We use Yardi activities as examples to inspire the other teams to go above and beyond,” says Nathalie Keller, Corporate Giving Manager at the Foodbank of Santa Barbara County. “They have several teams within the company. They volunteer regularly, donate food, post on social channels, and plan events like their holiday boutique and company party to benefit the Foodbank.” Yardi emerged as the victor of the fifth annual End Hunger Games, followed closely by other fine local organizations: First place: Yardi – Total Points: 1466 Second place: Evidation Health  – Total points: 1457 Third place: FastSpring – Total Points: 1327 The vast outpouring of corporate support, coupled with donations from the community, could not have come at a better time. The Thomas Fire, one of the largest and costly in the state’s history, caused widespread dislocation and loss of property. For the Foodbank, the efforts to provide for daily community food needs were made even more challenging by this disaster. Keller explains, “Children and families experienced increased food insecurity during this time of crisis. Many were unable to work because businesses had shut down or reduced work hours during the emergency. This meant that hourly employees faced sudden loss of wages. Owners of businesses connected to tourism and recreation, along with service providers and vendors, experienced immediate loss of income.” As soon as the UCSB American Red Cross shelter opened, the Foodbank began providing food, water and snacks to evacuees. Two...