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New Methods in Operational Benchmarking

Join our panel of industry experts as they discuss the latest advancements in operational benchmarking, including internal benchmarking best practices, external benchmarking innovations using new metrics, data transparency, the evolution of new asset classes, and more. Don't miss out on this informative session!

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New Methods in Operational Benchmarking

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Presentation Transcript

  1. New Methods in Operational Benchmarking Panelists: Melanie Morrison, CPM Mark D. Mahoney Dom Beveridge, MBA Moderator: John Njoku

  2. The Panelists Mark Mahoney Melanie Morrison, CPM Vice President – Asset Management Co-Owner & Designated Broker Dom Beveridge, MBA John Njoku General Manager CEO & Founder

  3. Intro & Agenda • Internal Benchmarking Best Practices • Dominium • MEB • 2) External Benchmarking Innovations – New Metrics • Multifamily Data Exchange – RPU • Kwelia – Kwelia Health Scores • 3) Data Transparency • 4) Evolution of New Asset Classes • 5) Wrap Up/Final Thoughts

  4. Internal Benchmarking Rankings & Points

  5. Monthly Performance Meeting

  6. Peer Comparison

  7. Internal Benchmarking The Value Creation Dashboard

  8. Internal Benchmarking

  9. Internal Benchmarking

  10. Internal Benchmarking

  11. External Benchmarking Quick Poll

  12. External Benchmarking Technology & New Metrics

  13. External Benchmarking Multifamily Data Exchange

  14. The multifamily industry approach to performance benchmarking is like playing a game without keeping score

  15. Some Rules For Keeping Score • It must measure how well we did relative to comps • The score must be factual – i.e. not estimated • There can only be onescore for all competitors

  16. How Multifamily Does It Today Requirement Multifamily Approach • Historical • Factual • Definitive • Asking-rent based • Estimated, survey-based • No point of truth on performance

  17. Hotel Industry Shows The Way • Benchmarks based on actual performance • Metrics based on actual revenue – no surveys • Single, simple set of metrics for all participants There is no good reason why the same clarity should not be available in the multifamily industry

  18. External Benchmarking The Kwelia Health Score

  19. External Benchmarking 1 • We use data science to derive a “market” price for every unit type. • Location • Configuration • Amenities 2 With property occupancy and actual rents, we compute a health score for each property. A 0-100 Metric that shows an apples-to-apples measure of performance against comps. Kwelia Health Score

  20. Privacy & Sharing Data Transparency

  21. A Changing Market The Evolution of New Asset Classes

  22. Conclusion Final Thoughts?

  23. Contact Us! Mark Mahoney VP – Asset Management Dominium Development & Acquisitions mmahoney@dominiuminc.com (763) 354-5608 Office Dom Beveridge EVP & General Manager Multifamily Data Exchange (MDX) dom@multifamilydataexchange.com (415) 713-0489 Melanie Morrison, CPM Principal MEB Management Services melanie@mebmgmt.com (520) 618-3811 Office John Njoku CEO & Founder Kwelia john@kwelia.com (512) 222-9532

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