The MDX vision is to empower every apartment company, big or small, to effectively benchmark actual historical performance, regardless of which property management or revenue management software they use to manage their business.
Alpharetta, GA (PRWEB) November 17, 2014
Multifamily Data Exchange (MDX), the performance benchmarking platform for multifamily owners, operators and stakeholders, today announced the industry’s first free income benchmarking platform at the 2014 NMHC OpTech Conference and Exposition.
“The MDX vision is to empower every apartment company, big or small, to effectively benchmark actual historical performance, regardless of which property management or revenue management software they use to manage their business,” says Dom Beveridge, general manager of MDX. “Operators want to benchmark against their closest competitors, not just the competitors that use the same technology stack they use. To achieve this vision, we recognize the need to remove as many potential obstacles to joining MDX. Learning from the highly successful ‘freemium’ models employed by some of the world’s leading technology companies, we are pleased to offer a ‘freemium’ version of MDX to anyone who contributes data to our secure exchange.”
MDX is a technology-independent platform that gathers historical performance data directly from the Property Management Systems (PMSs) of multifamily communities. Participating properties contribute historical income data and receive monthly reports benchmarking their performance against other MDX subscribers.
This first-ever approach in multifamily provides a comprehensive snapshot of a property’s historical rental income, and enables an apples-to-apples comparison to sub-market comps through a simple suite of reports. The information is factual, secure, transparent and unbiased, since MDX operates independently of any property technology platform.
“Today, the multifamily industry has no standard benchmark for revenue performance because a platform that collects actual historical income data hasn’t existed,” Beveridge says. “MDX is that platform for the multifamily industry. Through factual income benchmarking that offers a direct comparison against their closest competitors, apartment companies working with MDX gain the ability to better determine opportunities where they can increase rent and grow revenue, better identify high performing communities and markets as well as make an even stronger case for investors to invest in their assets.”
The freemium version of MDX makes those benefits available to every apartment company in the industry. Companies that want to conduct more sophisticated data analysis will be able to upgrade for more value-add features and services.
To learn more about MDX and performance benchmarking, download the “Why Multifamily Needs Benchmarking” presentation or contact Larry Bellack at larry(at)multifamilydataexchange(dot)com or 561.756.7430 to schedule a demo during NMHC. To schedule a media interview with Dom Beveridge, contact Peter Jakel at peter(at)linnelltaylor(dot)com or by calling 303.682.3944.
About Multifamily Data Exchange
The Multifamily Data Exchange (MDX) is the platform through which multifamily owners, operators and stakeholders exchange their historical performance information. The company gathers historical performance data directly from the Property Management Systems (PMSs) of a growing population of multifamily communities. Participating properties receive reports that benchmark their performance against a specific set of sub-market comps. MDX takes the full picture of historical rental income and allows apartment companies to compare to sub-market comps through a simple suite of reports.
Larry Bellack – VP National Sales