TThe National Apartment Association and Institute of Real Estate Management are providing the data.
The National Apartment Association (NAA) and IREM (Institute of Real Estate Management), working with proptech finance vendor Lobby CRE, are releasing national, real-time property benchmarks for 2022.
NAA and IREM have published benchmarks for decades, but the process has been cumbersome, requiring “manual submission, aggregation, mapping, and analysis to create benchmarks across asset classes,” according to a press release.
Working with Lobby CRE’s financial platform, the two organizations are able to speed the process.
“Benchmarking is critical to efficient and successful property management,” the release quoted Wendy Becker, vice president of knowledge solutions at IREM. “And now, in partnership with Lobby CRE and the NAA, we’re able to streamline the submission process and expand data collection. The result is a robust product that provides better insight into building operations.”
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