Benchmark

Transparent Multifamily Market Data in Real Time for Optimizing Asset Performance

Radix helps multifamily organizations drive top line revenue by equipping teams with the tools to gather reliable and insightful market data in real time. Benchmark is the multifamily industry’s first shared data ecosystem of 8M+ units on platform and counting.  This allows for seamless market survey information collection that is more efficient and accurate than standard methods. Benchmark does away with old industry processes for data collection – web scrapping, call centers, etc., and delivers information in an on-demand fashion with real-time accuracy.

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Benchmark in numbers

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HIGHER NET EFFECTIVE RENT ​
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HIGHER LEASED PERCENTAGE​
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HIGHER OCCUPANCY​
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HOURS LESS WORK MONTHLY​

How Benchmark Drives Value

Dynamic Comp Set Build Out

Benchmark allows customers to identify and analyze their market positioning within a comparable property set all in one location. This is done through Benchmark's Auto Comp Recommendation feature which provides comp options based on numerous factors including floor plans, fees, deposits, amenities, and other insights derived from the platform. In addition, because the Radix platform is a shared ecosystem, customers can see which properties consider their properties to be a comp and then decide whether those properties are direct comps as well. Benchmark customers can also use the maps function to see what additional surrounding properties are similar to their own properties to add to their dashboard.

Streamlines Data Collection

Market Surveys can be labor intensive and expensive. More time is spent compiling the data as opposed to leveraging analysis to make sound business decisions. Current market survey solutions require on-going maintenance and updates. This results in diverging templates, formats, and other headaches for corporate leaders. Benchmark focuses on data integrity, which saves properties time and eliminates user input errors. Benchmark increases market knowledge by providing interactive, real-time graphs, charts and customizable reports for a single property or a portfolio of properties.

Visualization of Key Metrics

Benchmark improves cross-team collobartion and communication by ensuring data is uniform and viewable by on-sites, corporate, and ownership teams all in the same platform viewing the same data in real-time. Benchmark provides Radix clients with actionable insights and the ability to spot opportunities for performance improvements. This includes unlimited perspectives such as tracking separately renovated, affordable, or unique floor plans. Radix Benchmark also provides easy trend analysis tools, and reporting consistency and automation features which improve data usefulness. With Radix Benchmark, customers can actually benchmark their property against their competition and evaluate how they are trending based on their specific property and strategy.

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Benchmark Features

Dashboard

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Snapshot

The Benchmark dashboard provides customers with a snapshot of their properties' performance against their competitors using real time data. The dashboard analyzes key metrics and compares them against comp metrics to allow for more data driven decisions. Multiple angles of the same data including a macro level view of the portfolio and drill down to the property are available with filtering by specific timeframes as well as other key markers.

dashboard

Trends

Is an analytical function of the dashboard that provides visual comparison of the property metrics against comp metrics. By using the same data as the Snapshot, it allows customers to look at the metrics side-by-side with their comps for a specific period of time to measure the performance of their properties. Clients can look at their entire portfolio of properties or they can compare specific properties by going down to the property level and even floor plan level.

Portfolio View

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Single Property View

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Portfolio view provides detailed information on how properties are performing compared to their comps. Portfolio view aggregates the data for all properties and allows customers to quickly spot trends, identify which properties to review and make other proactive operational decisions.

Single property view is a function of the dashboard that allows customers to analyze the performance of a single property alongside its comps. By analyzing various standard industry metrics, customers can see how the property is performing against selected comps.

Surveys and SurveySwap

Surveys Page

The Surveys tab is the source for updating surveys as well as seeing competitors’ surveys in Radix. When a customer integrates their Property Management System (PMS) this update is accomplished automatically. This means no more time updating manually and no more input errors. Out of date surveys can quickly be spotted and updates requested via the SurveySwap feature.

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SurveySwap

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SurveySwap is a feature of Benchmark that allows customers to swap market surveys more efficiently with their comps. SurveySwap sends non-subscribing Radix customers a weekly automated email and requests a market survey for their property through a simple web-form. By participating in SurveySwap these properties will get the customer’s survey information in return as well as up to six other comparable properties in the area.

Performance powered by insights

Perspectives

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Reporting

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No two properties are alike and each customer may have a unique way of comparing their property to their compset. The Perspective feature allows each user to customize the floor plans, unit types and properties included in their analysis. Perspectives can be applied to the dashboard, reporting and other areas of Benchmark.

Benchmark gives owners the ability to generate numerous, detailed reports using real-time data which allows them to better understand how their properties compete within their specific comp sets and also review and compare performance of entire portfolios. The reporting also allows customers to determine the market conditions by analyzing the key metrics like Net Effective Rent, Apartments To Rent, Occupancy %, Leased % Traffic/Leases Per Week and more.

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What customers are saying about Benchmark

Radix streamlines our market survey process, it really helps the people in site not have to call the other communities to get the market survey information really using the sharing process to be able to get the information immediately, and then for our analysts looking at the market surveys as a comparing our communities with other communities, not having to call just using the data that’s already there.
Marcie W.
CEO
I think what Radix brings is something unique. The market survey process is never super accurate and I feel like you’re always wanting to get them the best data possible because we use it to make real-time decisions on pricing on occupancy and how to really drive the performance of the property. I feel like Radix Benchmark allows for ease of use because the dashboards are very user-friendly. The other part that’s great is anytime you have a new team member there’s immediate training available, and there’s software support.
Laura D.
Senior Director
I’ve been a huge fan of Radix SurveySwap. Would highly recommend Radix for Market Survey needs. Working with their team continues to be an outstanding experience. I have used Radix now for Two Property Management Groups. The Radix Survey is extensive and support is excellent.
Tammy L.
Property Manager
All I can say ever since I have been working on the Radix Survey, the Support Team has been amazing. They are readily available for me and has exceeded my expectations every time. I have never seen such Team Work and the Customer Service I received is over 100%. Thank you for the assistance you have been provided. Jacqueline Manalastas from Mason & Main
Jacqueline M.
Property Manager

Benchmark Clients

Greystar
RPM
ResProp
willowwick
Cushman and Wakefield
Bonaventure
MEB
Fairfield
Group
Group

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