Actual Rates Data Initiative
The NIC MAP Actual Rates Data Initiative is driven by the need to increase transparency in the senior housing sector and achieve greater parity to data that is available in other real estate property types. Providing accurate data on the monthly rates that senior housing residents are specifically paying compared to properties’ asking rates helps the sector achieve this goal.
What is Included in Actual Rates data?
- In-place rates, move-in rates, and asking rates for residents of senior living and retirement communities
- Leasing activity, as measured by monthly move-in and move-out velocities
Reported Senior Housing Markets are Based on Participation:
NIC MAP is prioritizing the roll-out of the reported metropolitan markets for the Actual Rates data based on the participation rates of local senior housing and retirement community operators.
NIC MAP Data Contributor Benefit
Senior housing and care operators who contribute their data to the NIC MAP Actual Rates Data Initiative receive complimentary benefits, including:
Senior Housing Market Performance Reports
- Assess actual rates, rate spreads, and leasing activity of your properties compared to national and market trends
- Compare trends for different care types, including Active Adult, Independent Living, Assisted Living, and Memory Care
- New data published quarterly
Portfolios: Asset Management Reporting
- Assess your market share across all care types (active adult, independent living, assisted living, memory care and nursing care) and identify trends in your performance
- Use machine learning to create intelligent smart comps for portfolio benchmarking
- Analyze performance stats, including senior housing market share, rate, occupancy, and RPI at the segment-level and unit-level against the competition
- Visualize trends of your property portfolio’s benchmarks
CMBS Property Financial Data
- Access property level financial data, including loan balances, interest rates, appraised values, LTVs, revenues, expenses, and other fundamental details
- Data is provided through NIC MAP’s partnership with Trepp and is available for more than 30% of all senior housing units
- Requires a subscription to Market Insight
Resident Insight: Resident Wealth and Lifestyle Profiles
- Create income, wealth, and lifestyle profiles of your current residents and their next of kin using Experian’s Mosaics
- Use the rich detail provided by the Mosaics to understand the preferences, spending habits, and lifestyle choices of your residents
- Inform your marketing messaging and amenities planning through knowledge of residents’ needs, desires, and expectations
- Study the market’s demographics based on Mosaics to look for future residents
Actual Rates Software Partners:
- Actual Rates Software Partners certified by the National Investment Center for Seniors Housing & Care (NIC) are those companies who have successfully created standardized reporting that allows senior housing operators to efficiently and accurately report the monthly rates residents are paying. The software partner certification, and the reporting standardization it provides, makes Actual Rates reporting by operators turnkey and secure, thereby increasing the number of participating operator companies. Increased industry participation enhances transparency and contributes to NIC’s ability to deliver its mission of enabling access and choice in seniors housing.
This expanded reporting shows the increasing professionalism and sophistication of the senior housing operators who are able and ready to report the data in a standard file format with standard field definitions.
It benefits participating operators by helping them understand how their properties compare to benchmarks and provides insight into competitive discounting, so our customers can adjust pricing as needed to shorten the sales cycle.
Yardi has long had tremendous respect for NIC’s data collection efforts, and we are thrilled to be part of this software partnership that is so important for the industry.
We were thrilled to partner with NIC, a leader in the industry, to save our customers time and make it easier for them to access true market pricing.