NMHC OpTech - RevPAR Leads the Way in an Event Full of Great Ideas

Last week, I had the privilege of attending my favorite conference of the year. NMHC’s OpTech brings together the best and the brightest of technology and operations professionals in our business. Most of the leading Chief Information Officers attend as do many marketing executives, senior operators and of course the vendors who support them.

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Topics: RevPAR, NMHC, NMHC OpTech

NMHC OpTech - RevPAR for Multifamily Gathers Momentum

It's almost Thanksgiving and that means it must be time for NMHC OpTech, and I'm fortunate to be here in beautiful San Diego for another excellent, content-packed event.  I'm told the attendence is once again higher than ever, and the most common complaint I hear from attendees is that the number of tough choices they're having to make between the great and engaging sessions on offer.  The place is buzzing!

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Topics: RevPAR, NMHC, multifamily benchmarking

NMHC OpTech - Come and Hear the Discussion on RevPAR for Multifamily!

It’s time once again for the NMHC Operations and Technology Conference (OpTech), which just happens to coincide with another time of year we’ve all been waiting for … the fourth quarter of the year.

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Topics: RevPAR, Multifamily Data Exchange, NMHC, Smith Travel Research (STR)

Budget Season is here - Time to Revisit Multifamily Benchmarking?

Budget season is almost upon us, so I think it’s time for me to comment again on one of the most frustrating elements of how we run our businesses.  Because most of us bonus based on performance versus budget, the last half to third of the year can cause some of the biggest challenges with pricing vs operators’ incentives.

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Topics: Multifamily Performance Benchmarking, multifamily benchmarking

Multifamily Benchmarking: Why Same-Store History is a Bigger Priority than you Think

There are several things that make the multifamily industry unique.  Some have a direct impact on performance benchmarking, as we have learnt as we continue to grow the user-base of the multifamily data exchange.  We have often argued that the multifamily industry would do better if standardized revenue metrics were available and as ubiquitous as they are in other industries.  That is undoubtedly true, but it’s important to consider the unique characteristics of our industry as we develop the metrics that will improve the industry.

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Topics: Multifamily Performance Benchmarking, Multifamily Performance Data, multifamily benchmarking, RPU

Is Supply Growth Finally Changing Multifamily Performance Benchmarking?

I read with great interest a report from Axiometrics recently on a surge in June of both total and multi-family residential permits. Residential permits jumped 30% while multi-family permits jumped a whopping 79% from June 2014 and 16.1% from just the last month, May 2015. The June multi-family annual rate of 674,000 units is the highest since January 1990, and you’d have to go back to the 1980s to find sustained rates above 600,000 units.

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Topics: Multifamily Performance Metrics, Revenue Per Unit

NAA Education Conference - Multifamily Data Comes of Age

Walking around NAA’s Education Conference a week ago, I reflected on how much has changed in this industry during the 16+ years I’ve been associated with it—and even how much has changed in just the past few years.

One of the things that really hit me is the growing value of data. Here are just a few examples:

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Topics: NAA, #NAAEduConf, Big Data, multifamily benchmarking, RPU

NAA Education Conference: Brad Bellflower’s Tune is Sounding Familiar

Like most people in the multifamily industry, I am currently in that intense catch-up between last week’s National Apartment Association (NAA) Education Conference in Las Vegas, and the impending holiday weekend.  It leaves precious little time for reflection on another highly successful and informative event, but here I will share a couple of thoughts.

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Topics: NAA

NMHC Spring Board of Directors in Review

Just over a week ago, I returned from the NMHC Spring Board meeting. This gathering of the leadership of our industry is always informative. There were entertaining keynote interviews (Donald Trump) and inspiring ones (Charlie Rose and Stephen Ross), and there were some interesting “big picture” sessions (a fascinating briefing on how the expansion of the Panama Canal is likely to affect real estate development in major commercial corridors as well as some “way out there, ‘maybe it will happen’” discussions (the inclusion of Bitcoin in a session on “innovative capital”).

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Topics: NMHC, multifamily benchmarking

NMHC Spring Board: CEOs Debate Multifamily Benchmarking

As a one-time New Yorker, I love New York in spring.  Winter has lost its grip, the blossom is on the trees, and the exciting bustle of the city is tinged with a fresh optimism for the year.  Spring collections are in the stores, everyone looks a little bit better, and the city’s famous energy is never fresher.

This particular visit was particularly exciting for us at MDX – we were in town for his year’s NMHC Spring Board of Directors meeting, and a chance to energize an issue that’s close to our hearts – multifamily benchmarking.  Readers of this blog will be familiar with our own contributions to this ongoing industry debate on this subject.  We’ve written about the need for the multifamily industry to learn from the hotel industry – just as it has in the arena of revenue management.  So when we were offered the opportunity to collaborate on an educational session at the spring Board of Directors we were excited to get involved.

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Topics: RevPAR, NMHC, multifamily benchmarking, Smith Travel Research (STR)

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