The developer of a new data collection tool says it could help rental property owners ensure their buildings are as profitable as the one next door.
The tool will allow multi-family property owners and building managers to compare how their building performs in factors such as utility costs and property taxes.
“In all aspects of commercial real estate, the more free-flowing information that you have between different property owners, eventually helps those property owners,” Jeremy Bramwell, principal of Bramwell & Associates, told Business in Vancouver.
“This is just a tool to improve their bottom line.”
The research survey was developed by the BC Apartment Owners and Managers Association (BCAOMA) and Bramwell & Associates, a property appraising firm.
BCIT is also working on the project to create an online version of the benchmarking tool.
The survey will be completed at the end of April.
