The Next Generation in Metric Management

In today’s review-centric world, an internet search for a business usually yields some sort of quick rating or score as a guide. Three stars. Four stars. Five stars. Ratings can give the user a fast assessment of a business, event or product or feature.  A good star rating twinkles success, while a bad one suggests a possible black hole. Of course, consumer ratings are often subjective, reflecting the experience of the person who’s doing the rating. With the good and bad ratings come countless hours at corporate levels making adjustments to improve ratings, whether fixing a problem or improving service, without fully knowing what will drive the rating up or down. In real estate, asset managers have a similar task of assessing the health of a property or portfolio.  However, real estate has an important difference: critical data – loan-to-value, NOI, occupancy, income yields and other key performance indicators – provide hard, quantitative measures. Over the years, software has helped managers work with third-party property managers, joint venture partners and others on reporting and collecting this data. While a big improvement on previous years of manual reporting, the asset manager has had to interpret the information before making the next strategic move. In some cases, the manager has been as the disposal of others before being able to see the information, thus slowing the process. But now the stars have aligned to light the way to more efficient interpretation of key performance indicators and property health. Star rating is the next generation of metric management RealPage has embraced today’s ratings paradigm with the next generation of metrics management in its PAM software family, including Portfolio Asset Management and RealPage Portfolio Management. The PAM family now gathers key performance indicators selected by the asset manager and creates a quick property performance star rating that’s ea...