Benchmark - Single Property View
If you are a Property Manager/Community Manager (or Assistant Property/Community Manager) the Benchmark will display a default view of the property that you manage giving you a Snapshot of where your property stands when comparing against your comp list. The benchmark also includes an enhanced single property view giving users the ability to quickly compare the property to its comps using industry-standard metrics.
Accessing Property Snapshot
Go to Benchmark in the upper right corner of the screen and click on it. You will be met with a Snapshot of your property(ies) and competitors. Use the Perspectives function to generate various comparison perspectives of your property against your competitors. For more information on how to use this feature, check out How to Use Perspectives.
For instance, if you have renovated units and you would like to compare how are you performing with your renovated units against your competitors, you can select that perspective.
Specifying Date Range
By using the Date Range you are able to customize the dates on the fly to show the specific data for the specific date range selected such as Last 30 Days, Last 90 Days, etc.
You can show or hide metrics as needed by using the Show/Hide Metrics option.
You can also review performance by floor plan using the More Details panel at the bottom of the snapshot to view floor plans. This allows you to compare various metrics of your property/ies per floor plan to see how you are performing in Studios, One Bedroom, Two Bedrooms, etc.
On the other hand, Ops Metrics allows you to compare operational metrics such as Traffic/Week, Lease/Week, Leased %, ATR %, etc.
Trends - Floor Plans
Trends graphs provide a visual comparison of your property metrics vs your comps.
By using the Floor Plans drop-down menu, you can easily compare your property units (studios, one-bedroom, two bedrooms, etc.) against your comps.
Trends - Operational Metrics
The Benchmark will display a default view of the property that you manage giving you a Snapshot of where your property stands relative to your competitors.
It includes information such as occupancy %, leased %, and other relevant information.
Trends - Group Comps
Next to Trends, a settings icon allows you to group comps. If you toggle Group Comps on, the platform will group all the competitors and create a comp average.
Your subject property will be compared to that comp average, allowing for an all-encompassing perspective.
You can easily select or deselect the comps directly from the graph by clicking on them - if you click once the comp will not be shown and it will be grayed out; if you click on it again it will be shown again. You can also click on any of the metrics on the graph to compare your property against your comps using that metric.
Click on the columns icon to show/hide various metrics such as NER, NER/SQFT, ATR %, Leased %, etc.
Competitors Table - Floor Plan Information
Through the series of drop-down lists, you can look at information relating to competitor floor plans.
Updating Property Surveys
You can directly update your property survey through the Competitors table. Select the three dots on the properties right and click on Update Property Survey.
You can also view your activity history regarding property updates. Select the three dots on the properties right and click on View Activity.
The Reputation table displays an overview of google and yelp ratings relating to your property and your comps. Click on Get Latest for the table to display the most recent data on property reputation.
At the very bottom the Benchmark provides a Map View (using the embedded Google Maps) which you can expand to view where all the comps are located.
This is especially helpful for teams that are not located onsite to see where all the comps are and what is nearby each property by zooming in the map view.
Generating a PDF
After you have filtered information to your liking, you can generate a report on your property (generated as a PDF).