MDX is the multifamily industry’s platform for exchanging historical performance intelligence. We gather data from any company that operates a major property management system (PMS) and organize that data into statistics that benchmark your property against its local competitors. 100% of the data is gathered at the individual lease level, so we prepare actual, historical performance data for all properties, in exactly the same way, allowing you to compare revenue performance on an apples-to-apples basis – a first for the multifamily industry.
Operators have many ways to benchmark performance, but unlike other industries, multifamily has no way to benchmark revenue. We benchmark lots of things that tell us about revenue performance (e.g. asking rents) but there’s no way to compare properties’ income performance on an apples-to-apples basis using actual performance data. It’s like we’re playing a game of football, but nobody’s keeping score on performance. This problem is made worse as Revenue Management technologies are currently in mass-adoption in the multifamily industry – a true industry revenue benchmark is long overdue, and MDX solves this problem.
Until now there was simply no way for an operator or owner to assess the true performance of a property or portfolio. While you could compare performance to previous years and to planned budget, the problem with this type of comparison is that timing and market conditions often have more influence on the results than strategies or actions do. Another option is to compare your asking rents to others by surveying. While this can provide an indication of current market trends, it still doesn't tell you the truth about performance, because asking rents are not the same as achieved revenues. This type of comparison often rewards the wrong behaviors, and penalizes the rights ones! MDX provides - for the first time - the point of truth on property performance.
MDX is committed to building the largest revenue performance database in the multifamily industry. We are so committed to this vision that anybody who contributes data (which must come directly to us through our interfaces from all major Property Management Systems) can obtain performance benchmarking reports for FREE. We will provide upgrade options, and new reports and products that we think you’ll want to pay for. But the core, base-level performance benchmarking tool is available free of charge to anybody who contributes data to the platform. To book a demo of the MDX reporting platform, click here.
It’s very easy to get going with MDX. You sign a simple agreement, we will set up an extract to run on your property management system (PMS), then you will start to receive monthly performance reports. To get started, all you have to do is enter some details in the form to the right and we’ll be in touch to get you set up.