The NIC Actual Rates Initiative is driven by the need to increase transparency in the seniors 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 seniors housing residents are actually 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
- Leasing activity, as measured by move-in and move-out velocities
Reported Markets are Based on Participation:
NIC is prioritizing the roll-out of the reported metropolitan markets for the Actual Rates data based on the participation rates of local seniors housing operators.
Benefits to Participation:
- Benchmark your properties’ rates and leasing activity to national trends and select metropolitan markets as they are added
- Inform strategic planning efforts, especially with regards to discounting and growing NOI
- Assist in day-to-day business operations and potentially shorten the sales cycle by increasing ability to move rates more quickly
- Save time. Actual Rates data is collected directly from operators’ corporate offices, removing the need for telephone calls to individual properties.
- Maintain confidentiality. All NIC data reporting is confidential and reported only in the aggregate
- Lower costs. Increased transparency decreases cost of capital and results in more appropriate investment levels in seniors housing and care
Interested in Participating?
NIC is collecting data from operators of rental seniors housing (independent living, assisted living, and memory care) who have five or more properties. We have expertise in extracting data from industry leading software systems and can facilitate the process for you.
“This expanded reporting shows the increasing professionalism and sophistication of the seniors housing operators who are able and ready to report the data in a standard file format with standard field definitions,”
John Cobb, Executive Vice President & Chief Investment Officer, Ventas
“We’re pleased to participate in this program as a means to advance both our customers and the industry itself,” said Steve Pacicco, President & Chief Executive Officer of MatrixCare. “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.”
Steve Pacicco, President & Chief Executive Officer at MatrixCare
“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,” said Ray Elliott, vice president of senior living at Yardi. “This software partner certification for actual rates demonstrates Yardi’s continued commitment, not just to our clients, but to the broader seniors housing and care industry.” ”
Ray Elliott, Vice President of Senior Living at Yardi