If you had the best data analytics tool for real estate management, what would you use it for?
Click on the use cases below and see the solutions we offer.
Build a culture of goal-setting and achievement with metrics, leading indicators and scorecards
Increase income by optimizing rents, managing occupancy, reducing delinquency and more
Give your data analysts modern tools so they can be more productive and deliver better insights
Transform from being REACTIVE to becoming PROACTIVE when it comes to managing your assets
Find and fix causes of budget variances
Well-run real estate companies have the discipline of setting budgets and tracking variances. Once variances are visible, the next step is to drill into the GL to see which transactions are driving the variances. The modules listed below help with this workflow.
- Keep track of budget variances using RV01
- Use RV19 to find outliers and misclassified transactions
- Use RV18 to track key ratios for a property
- Use RV36 to benchmark per-unit expenses and income of properties
- If you want to compare proforma vs actual, we can load your proforma data into your data warehouse
Control operating expenses
Runaway expenses can sink any business plan. We’ve got modules to help you visualize expenses. Then drill into your GL to uncover new or unexpected expense items.
- Use Property Metrics (RV02) to start with the big picture P&L. See MoM and YoY changes in specific line items.
- Use Expense Analysis (RV19) to analyze spend by Vendor, GL Account, Property and Unit
- Use Expense Ratios (RV18) to benchmark properties against each other
- Use Income and Expenses Per Unit Overview (RV36) to benchmark per-unit expenses and income of properties
- Use Utility Recapture Dashboard (RV44) to make sure utility expenses are being recaptured
Optimize lead-to-lease velocity
Set lead generation targets based on forecasted vacancy. How quickly you convert a lead into a lease will drive economic occupancy and NOI.
- See this article on the Leasing Funnel
- See this article about matching unit supply to unit demand
- Use Pre-Lease Analysis (RV08) to keep track of leasing targets
- Use Weekly Leasing Report (RV45) to track leasing metrics
- Use Executive Dashboard (RV43) Tab 1 to visualize month-by-month changes in the Leasing Funnel
Decide which metrics to track
We believe that in addition to performance metrics such as NOI, occupancy, delinquency, etc, companies should also be tracking the leading indicators of these metrics.
- Download the Metrics Handbook for ideas
- Use the Process Improvement Toolkit
- See this case study on building a scorecard
- See this article on using metrics to run your meetings.
- See this article the see the four stages for effectively utilizing metrics. [Unaware, Reactive, Proactive, Optimized]
For companies that want to optimize rent by unit, we offer modules to compare lease and market rents.
- Watch this video to learn how data analytics can be applied to the rent roll
- Use Market Rent Analysis (RV07) to analyze gaps between market rents and lease rents
- Conduct a Business Diagnostic to uncover opportunities to update rents
- See this article on how we helped a multifamily client implement dynamic pricing
Reduce delinquency and bad debt
- Use Collections Dashboard (RV42) to see which properties are behind on collections
- Use Delinquency Analysis (RV04) to see which residents are driving the A/R balance. This module also shows you residents’ balance for prior months
- Use Expense Analysis (RV19) to see actual charges and receipts in the GL. Easily identify gaps in payment patterns
See this case study on how we helped a company balance supply and demand of units
Give investors and partners clear visibility of performance
- Actual vs Budget (RV01)
- Property Metrics (RV02)
- Portfolio Metrics (RV03)
- Actual vs Proforma
- Net Cash Flow Dashboard (RV05)
- Manufactured Housing Operational Scorecard (RV12)