What KPIs do you use to measure performance?

[Ryan Daigle]

Being a data-driven guy, I think it's important to identify a few key metrics (or KPIs - key performance indicators) that show how well a property is performing. Mine are:

• Income: Collected rents
• Occupancies: Physical and economic (collected rent as % of expected rents)
• Marketing: Days on market for ready to rent units

Monitoring these KPIs will quickly give you insight into which the areas of the business are performing to expectation, and which are not. But more importantly they provide a historical reference and can help identify trends and correlations.

For each of our properties, we establish a performance tracking dashboard that visualizes these monthly KPIs as trends across the full history of the property. The goal is to not get too fixated on any one month or one data point, but to ensure the long term trend is headed in the right direction. Here's what one of our recent ones looks like:

What KPIs have you settled on for the multifamily investments you're managing?