#mamconf14 new methods in operational benchmarking melanie morrison, cpm mark d. mahoney dom...
TRANSCRIPT
#MAMConf14
New Methods in Operational Benchmarking
Melanie Morrison, CPMMark D. MahoneyDom Beveridge, MBA
Panelists:
Moderator: John Njoku
#MAMConf14
Mark Mahoney Melanie Morrison, CPMThe Panelists
Vice President – Asset Management
General Manager
Co-Owner & Designated Broker
CEO & Founder
Dom Beveridge, MBA John Njoku
#MAMConf14Intro & Agenda
1) Internal Benchmarking Best Practices• Dominium• MEB
2) External Benchmarking Innovations – New Metrics• Multifamily Data Exchange – RPU• Kwelia – Kwelia Health Scores
3) Data Transparency4) Evolution of New Asset Classes5) Wrap Up/Final Thoughts
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Rankings & Points
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Monthly Performance Meeting
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Peer Comparison
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The Value Creation
Dashboard
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Quick Poll
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Technology & New Metrics
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Multifamily Data Exchange
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The multifamily industry approach to performance benchmarking is like
playing a game without keeping score
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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 one score for all competitors
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How Multifamily Does It Today
Requirement
• Historical
• Factual
• Definitive
Multifamily Approach
• Asking-rent based
• Estimated, survey-based
• No point of truth on performance
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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
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The Kwelia Health Score
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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.
Kwelia Health ScoreA 0-100 Metric that shows an apples-to-apples measure of performance against comps.
#MAMConf14Privacy & Sharing
Data Transparency
#MAMConf14A Changing Market
The Evolution of New Asset Classes
#MAMConf14Conclusion
Final Thoughts?
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Mark MahoneyVP – Asset ManagementDominium Development & [email protected](763) 354-5608 Office
Melanie Morrison, CPMPrincipalMEB Management [email protected](520) 618-3811 Office
Contact Us!Dom BeveridgeEVP & General ManagerMultifamily Data Exchange (MDX)[email protected](415) 713-0489
John NjokuCEO & [email protected](512) 222-9532