Measuring property health by leveraging mrc and kpis

Looks can be deceiving, whether from a prospective resident’s perspective while viewing a community for the first time or an accountant who is glancing at spreadsheets trying to understand the financial property health. A freshly painted exterior may suggest to a prospect that the apartments inside are clean and function flawlessly. To a financial analyst, a property that’s operating in the black may appear to be hitting its financial goals. But are either really living up to their full billing? The apartment may have old, outdated appliances that are operating on a shoe string. And the community may not be meeting occupancy goals. In fact, 25 percent of the units are vacant. The only way the prospect and analyst will discover these issues is by doing their homework. For the resident, that means doing some research that may include checking reviews and taking a tour. For the analyst, a deeper look into financial performance is necessary. The analyst can only get a full view of property health– inside and out – by looking at key performance indicators (KPIs), quantifiable values that, together, determine if the property is realizing its potential and meeting financial goals. A property management accounting system that provides operational visibility using month-over-month comparisons and exponential reporting for trending KPIs will tell the whole story, to not just the analyst but all stakeholders. Providing operational visibility in the financial system Backed by dashboard functionality, RealPage’s Accounting is giving multifamily analysts and stakeholders deeper visibility into the performance of the assets they own and operate. The system, which provides transparency into metrics important to internal and external stakeholders, has broadened the scope of reporting so operators can drill down into KPIs using management reporting codes (MRCs). The system merges financial reports with operational data to give a holistic view o...