What Multifamily Data are Managers Watching Now?

Multifamily data about market conditions, trends and competitor activity is even more critical than usual in times of uncertainty like this one. New variables come into play that make it important to take into account unusual metrics in addition to leaning on experience and gut feel. Even before COVID, operational strategies that drive success had already evolved through the understanding of how real-time data draws a true market picture. Lenders and brokers now maximize their returns and mitigate risk with accurate market, submarket and property-level business intelligence to identify the optimal moves to make. Operators, developers and investors began watching data closely when the current cycle began skidding this spring. Mounting job losses sent tremors through the industry, and eyes focused on occupancy, rent roll, revenue, concessions, and other metrics within markets. But the traditional decision support recipe of survey data plus experience took on a less commanding role in assessing strengths and weaknesses. BH Management and Simpson Housing are among the companies that are relying more than ever on transaction-driven research to attain complete market visibility. These leaders are using multifamily business software to make decisions necessary to move their companies forward in the moment while building strategies for the longer term. Charting new directions when markets change During the first couple of months of 2020, Simpson Housing focused on the usual goals of staying on budget and increasing profit year-over-year. But as markets changed, so did the approach of Senior Vice President of Revenue Management Bryan Hilton and his team. Today, market analytics technology is helping Simpson Housing chart a new direction. “We're looking at how the market's performing around us,” he said. “We don't know what's coming next, so we're kind of feeling our way along. And it’s been really helpful to have the industry let us know what t...