Building the Entrata KPI Scorecard
An Automated Entrata KPI Scorecard We built the RentViewer Entrata connector in collaboration with a client. Our client was looking to automate the process for updating their Excel-based KPI scorecard. The Business Challenge The client’s executive team...
Leasing Velocity
What is Leasing Velocity definition? The widely accepted definition of Leasing Velocity is “Length of time a unit is unoccupied between leases” or rental turnaround time. The quicker you lease the unit, the higher your leasing velocity. The longer a unit is vacant,...
Dynamic Pricing in Multifamily Portfolios
Dynamic Pricing in Multifamily Real Estate Dynamic pricing isn’t only limited to airlines and hotels! You, too, can decide what the rent for any specific unit should be on any given day. To achieve this capability, you will need to build an intelligent data...
Using metrics that predict future performance
When you are looking at P&Ls or balance sheets, you are looking at history you are looking at metrics that predict future performance.A P&L tells you what happened last month.It is not telling you what is likely to happen next month.And relying too much on...
Eleven factors for building a scalable property management business
Some of my clients who are operating their properties have hit a plateau. They have access to capital, they know where acquisition opportunities are, but they are so mired in property management that their goals for growing their portfolios are on hold. In...
Variation in Property Management Processes
Before you get too deep in to charts and data visualizations, let’s talk about the concept of variation. Understanding variation is essential for building processes and systems on which you can scale your property management operations. Once you have succeeded at...
Ratios in Property Management Dashboards
Had a meeting yesterday with a company that wants to order a custom dashboard. I asked how they currently get their metrics, and they showed me screenshots of their scorecard. Their process involves exporting numbers from the property management system into Excel and...
E-Myth property management Do You Work On or In the Business?
This article is meant to start a discussion about how senior leaders of property management companies spend their time. The E-Myth and the Property Management Executive On any day, do you both feel proud of the business you have built, and also some trepidation that a...