Mastering Cost Management and Revenue Optimization with Income/Expense IQ Benchmarks
Keeping costs down and maximizing revenue are fundamental to every property manager’s role. Property managers must prioritize keeping expenses low and revenues high by minimizing expenses, better budgeting & investments, cost controls & forecasting and more.
- Minimizing expenses ensures efficient operations and maximizes profitability
- It allows for better budgeting, enabling investment in property improvements and amenities
- Cost control fosters financial stability, crucial for weathering economic downturns
- Maximizing revenue, of course, boosts property value and attracts investors
Income/Expense IQ is powered by Lobby CRE's platform and includes data from BOMA and NAA to provide the most comprehensive property data benchmarking tool available in the United States. Participants will learn how the combined efforts of these organizations has been applied at properties to forecast operational expenses, plan for capital expenditures and maximize NOI.
Learning Objectives:
- Hear real examples and case studies of how property managers have applied I/E IQ data to focus on anticipated expense volatility
- Learn to apply benchmark data points to your expense forecasts and budgets
- Get expense data from similar properties in your markets, to establish the changes you need to make to be competitive in your market
Date/Time: Tuesday, April 30 at 2 p.m. ET
Price: Free
Panelists
Todd Feist, Sr. Content Developer/Sustainability Program, IREM
Matt Lexow-Gray, Commercial Real Estate Data and Operations, Lobby CRE
Paula Munger, Vice President of Research, NAA
Angela Aeschliman, CPM, CCIM, LEED AP ND, Sr. Vice President of Property and Asset Management, Missner Group
Will Curtis, CCIM, CPM, Commercial Managing Director, Phyllis Browning Company
Hakan Ozsancak, Vice President Association Services & Publications, BOMA International