Data is King Evaluate properties and investment options Monitor property performance Stay on top of market trends Prepare budgets and loan applications Negotiate beneficial leases
Users Who uses the data? Property Managers Appraisers Assessors Financial Institutions Lenders Real Estate Consultants & Advisors Academia Developers
Five Annual Studies to Aid in Assessing your Property Income/Expense Analysis ® Publications More than 58 years of publishing data Conventional Apartments Federally Assisted Apartments Condominiums, Cooperatives, and Planned Unit Developments Office Buildings Shopping Centers
Conventional Apartments 3,400 multi-family properties Presented in: Dollars per square foot Percentage of gross possible income Dollars per unit Breakdowns by age, size and range Historical trends Section 42 properties
Office Buildings 2,400 private sector office buildings Downtown and suburban markets Presented in dollars per square foot Breakdowns by building size, height, age and rental range Capital Expenditures Green Buildings Medical Office Buildings
Shopping Centers Nearly 500 Open Shopping Centers Income based on types of leases and anchors Data by age of center, size, regional areas and national statistics Tracks non-enclosed common areas Special reports Leasing fees Expansion Tenant turnover Type of ownership Gross sales analysis
Benchmarking To gauge or measure A standard point of reference in measuring or judging quality, value, cost, etc.
Benchmarking As it relates to buildings, we can benchmark: Building performance Income, Expenses, NOI, etc. Tenant turnover Energy usage Historical trends Comparative data
Benchmarking: How? 1.Record building data and operating expense 2.Calculate per square foot costs 3.Select comparative data 4.Calculate dollar and percentage variances 5.Compare data and determine reasons/justifications for variances 6.Set goals, prioritize and implement expense reduction efforts 7.Monitor and document results
Case Study Ingo Kraus, CPM ® Regional Manager, Altman Management Company, AMO ®
Case Study Nick Schwendeman, CPM ® Senior Vice-President, Asset Management The Webb Companies
Summary Five Income/Expenses Analysis ® are available from IREM Highlighted trend data can be meaningful and provide comparison Benchmark and Compare your data I/E Labs…for trending historical data Visit our website: IREM.ORG
IREM.org Matthew OHara Income/Expense Analysis ® Manager email@example.com (312) 329-6025 Questions? Comments? We are happy to help you!