Automated CRE Operator Data Submission Supplants Time-Consuming Manual Processes
CHARLOTTE, N.C., April 20, 2023 /PRNewswire/ — The National Apartment Association (NAA), Institute of Real Estate Management (IREM), and Building Owners and Managers Association (BOMA) have opened automated benchmark submissions in partnership with Lobby CRE, a Thirty Capital company. Lobby CRE is a centralized platform for financial and operational data across commercial real estate properties that simplifies and automates the data collection and submission process.
In 2022, the initial partnership with NAA and IREM resulted in an unprecedented 9,600 submissions from real estate operators nationwide. This year, BOMA joins the team to bring access to automated data submission and the resulting benchmarks to a broader base of CRE stakeholders.
“We’re excited to automate data submissions for 2023 with the added support of BOMA and its members. We’re slated to surpass last year’s recording-breaking submission levels and provide the industry with the most detailed benchmark data set ever. With the headwinds managers are facing, we hope the insights provided by the data will help them optimize income and expenses to protect NOI and cashflow,” said Anne Hollander, CEO of Lobby CRE.
Why Benchmarks: Understanding property performance in context with the operator’s market is critical to operational efficiency and proving the value of operator’s efforts and the returns for owners and investors.
Why Income/Expense IQ Benchmark: The I/E IQ Benchmark empowers operators to assess performance side-by-side with real (not survey or statistical) data automatically standardized for a true ‘apples-to-apples’ analysis.
Why Submit Data: The I/E IQ Benchmark is made available through the voluntary data submission process from CRE organizations across the United States. The more data submitted, the more granularity is available for analyses and actionable insights.
Benefits For Data Submitters
- No Cost: The resulting benchmarks are available free of charge to data submitters.
- Privacy: All property data is aggregated and anonymized prior to analysis — there is no way to track back the resulting benchmark to individual properties, managers, or owners.
- Security: All data is secured via financial-grade encryption processes and tools.
- Available VIP service: Portfolios with more than 20 properties can utilize Lobby CRE’s VIP submission process with a dedicated Client Success Manager to ensure all properties are properly submitted.
New for 2023: ‘One-Time Setup’ — Rather than re-submit and re-map data every quarter, a Lobby CRE specialist automates the data submission for each property so managers don’t miss the deadline. This service is completely free of charge. As an added benefit, managers have access to quarterly benchmarks to track market trends and performance faster than ever before.
How it works — Lobby CRE has a direct connection to bring in the necessary reporting from the PMS automatically. This is scheduled on a regular cadence via Lobby’s Client Success team, allowing submitters to automatically submit data, and ensure they have the most up-to-date benchmarks for their property.
Managers can contact the Lobby CRE Client Success team to activate the ‘One-Time Setup.’
Registration and submission links based on membership: IREM | NAA | BOMA
All CRE Stakeholders: Get Started with Lobby CRE
About Lobby CRE
Lobby CRE transforms commercial real estate asset management with automated operational and financial data intake, intelligent performance analysis and reporting, industry benchmarking, and configurable dashboards — all within one platform. Lobby CRE creates opportunity to ‘see around the corner,’ quickly capturing critical insights that drive performance across operations management, debt management, and entity management.
The National Apartment Association (NAA) serves as the leading voice and preeminent resource through advocacy, education, and collaboration on behalf of the rental housing industry. As a federation of 141 state, local, and global affiliates, NAA encompasses over 92,000 members representing more than 11 million apartment homes globally.
For over 85 years, our members have made us the world’s strongest voice for all things real estate management. Almost 20,000 commercial and residential management leaders call this home for education, support, and networking. Our CPM®, ARM®, ACoM, and AMO® certifications are internationally recognized symbols of ethical leadership and a well-managed property.
Founded in 1907, the Building Owners and Managers Association (BOMA) International is a federation of U.S. local associations and global affiliates. It represents the owners, managers, service providers, and other property professionals of all commercial building types, including office, industrial, medical, corporate, and mixed-use.
Kirky Galt, LEED AP
888 337 0150
SOURCE Lobby CRE
Originally published at https://www.prnewswire.com/news-releases/naa-irem-and-boma-open-2023-benchmark-submissions-in-partnership-with-lobby-cre-301803006.html
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Real Estate - Miami in News originally published at Real Estate - Miami in News