Companies come to us because the reports from their property management system don’t provide them the metrics they want. Customization is the driver. We have a process for specifying custom property management metrics. Here is how we do it.
Custom Property Management Metrics Specification
Below is a screenshot of a workbook we use for specifying the metrics our customers want to display in their dashboard. As you can see in the detail, even metrics that are very widely used, such as Gross Revenue or Delinquency %, are calculated quite differently by different companies.
The metrics in the example above are specific to the mobile home segment. However, we use the same format for our customers in multifamily, student housing, retail, industrial and other segments. All of them have a need for custom property management metrics. Here, for example, are the metrics recommended in the NARPM Financial Metrics Guide. Here is our visualization for these NARPM metrics: RV06 – NARPM Metrics Dashboard.
The actual workbook is more elaborate than this. The above example highlights the information we need from our customers so that we can accurately provide them a cost estimate as well as understand how to design the data extraction and perform the data validation.
Tired of Exporting to Excel and Calculating Metrics?
If your system is not providing you the custom metric calculations you need to run your business, get in touch with us. Schedule a free consultation using the button above.