Your true competitors–do you know who they are? Identifying your true competition is vital for making strategic decisions that enhance your financial position and ensure long-term success of your properties. Traditional market survey methods–calling up and comparing floor plans and rents of nearby communities targeting the same resident demographics–are outdated and insufficient. This cumbersome process barely scratches the surface of ident ...
Leasing up new properties in competitive markets is a high-stakes game, especially when confronted with inflation and uncertain market data. Revenue teams face immense pressure from stakeholders to stabilize occupancy and maximize revenue quickly. The effects of inflation and subpar market insights create doubt, leading to revenue expectations that may not be in sync with market conditions–and financial instability for owners and operators trying ...
Real quick–we're talking multiple times a day. Success demands mastery over ever-shifting market dynamics. With private data usage driving legal landscape changes, coupled with economic conditions and a competitive environment, revenue teams must be vigilant in their market survey data to yield maximum results. Rents, concessions, apartment availability–these data points and more are constantly updated to reflect what's currently happening withi ...
In multifamily, data is king. With an increasingly competitive landscape, decisions are made using accurate and granular data. NER, advertised occupancy, exposure, and concessions–the more specific apartment metrics you can get, the more data you'll have to base pricing decisions on. The problem is, how do you get specific data? What, aside from spending days online comparing listings, or hours on the phone conducting manual surveys, can you do? ...
Do you know where your data comes from? Not all data is the same. How it's pulled can result in varying (and potentially unpredictable) outcomes–one of the more unpleasant being private data sharing. Using ethically sourced data ensures compliance and precision in your comp reporting and market surveys. Unlike private and semi-private data, market insights from ethical sources are clean, accurate, and unassociated with antitrust litigations. Own ...
$300,000 a year. That's how much owners and managers with 100 properties spend on manual market surveys. The traditional approach to market surveys is tedious and cumbersome. Leasing teams spend hours collecting data into spreadsheets, cutting into their customer service and property management responsibilities. While a cornerstone of multifamily growth, manual market surveys are diminishing your bott ...
You've seen it on the news and splashed across your social media feed. The legal effects of private data sharing are dominating multifamily conversations. These concerns have led many owners and managers to shift to public data for their competitor intelligence analyses. Just in the past year, 40% of the NMHC Top 50 have moved from private to public data sources for their market surveys. What Your Coll ...
