IREM®, NAA, and BOMA Open 2024 Income/Expense IQ Benchmark Submissions in Partnership with Lobby CRE
Streamlined automated data submission eliminates traditional manual processes.
CHARLOTTE, N.C., Feb. 14, 2024 — IREM (Institute of Real Estate Management), the National Apartment Association (NAA), and Building Owners and Managers Association International (BOMA) have opened 2024 Income/Expense IQ (I/E IQ) benchmark submissions in partnership with Lobby CRE, a Thirty Capital company.
Creating property performance benchmarks for metropolitan areas across the United States has historically required manual submission, aggregation, mapping, and analysis to create benchmarks across asset classes. To digitize the process and enhance value to members, IREM, NAA, and BOMA partnered with Lobby CRE, a centralized platform for financial and operational data across commercial real estate and multifamily properties that simplifies and automates the data collection and submission process.
“We are thrilled to continue our partnership with the Income/Expense IQ benchmark and kick off a new year for data submissions. This initiative is truly powered by partnership, and together we can build better benchmarks,” said Rob Finlay, CEO of Lobby CRE.
“As we open submissions for 2024 Income/Expense IQ benchmarking, we’re excited to apply our streamlined data collection and analysis tool, thanks to our partnership with Lobby CRE,” says 2024 IREM President Libby Ekre, CPM®. “Together with NAA and BOMA, we’re empowering real estate practitioners with the tools and insights they need to drive operational efficiency and make informed business decisions.”
Why benchmarks?
Understanding property performance in context with the operator’s market is critical to operational efficiency and proving the value of the property manager’s efforts and returns for owners and investors. The I/E IQ platform delivers market intelligence to inform better business decisions.
Why Income/Expense IQ benchmarks?
The I/E IQ Benchmark empowers property managers to assess performance side-by-side with real data that’s automatically standardized for a true ‘apples-to-apples’ analysis. The I/E IQ benchmark uses operating data submitted by real estate practitioners across all major US markets, rather than survey or statistical data.
Why submit data?
I/E IQ benchmarks are made available through the voluntary data submission process from multi-family, office, industrial and other assets across the United States. The more data submitted, the more granularity is available for analysis and actionable insights. Real estate managers, owners, operators, and asset managers across asset classes are invited to participate.
Benefits for data submitters
- No cost: Data submitters receive a free benchmark for one property type that includes all MSAs.
- Privacy: All property data is aggregated and anonymized prior to analysis — benchmarks cannot be traced to individual properties, managers, or owners.
- Security: All data is secured via financial-grade encryption processes and tools.
- Complimentary concierge service: Portfolios with more than 20 properties can utilize Lobby CRE’s VIP submission process, with a dedicated Relationship Manager to help ensure all properties are properly submitted.
- One-time setup: Rather than re-submit and re-map data every quarter or year, a Lobby CRE specialist can automate the data submission process for each property, so managers don’t miss deadlines and to ensure they have the most up-to-date benchmarks for their property. This service is completely free of charge.
Registration and submission links based on membership: IREM | NAA | BOMA
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.
About IREM
For over 90 years, our members have made us the world’s strongest voice for all things real estate management. Almost 20,000 leaders in commercial and residential management 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.
About NAA
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 represents more than 12 million apartment homes globally. NAA believes that rental housing is a valuable partner in every community that emphasizes integrity, accountability, collaboration, community responsibility, inclusivity and innovation. To learn more, visit www.naahq.org.
About BOMA International
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. Through Building Owners and Managers Institute (BOMI), more than 43,000 credentials have been earned.
