The NIC Actual Rates initiative is driven by the need to continually increase transparency in the seniors housing sector and achieve greater parity to data that is available in other real estate asset classes. Having access to accurate data on the monthly rates a seniors housing resident pays as compared to the property’s asking rates helps us achieve this goal.
What is included in Actual Rates data?
- In-place and move-in rates
- Asking rates currently collected and reported on by the NIC MAP® Data Service
- Leasing Activity, as measured by move-in and move-out velocities
Benefits to participation:
- Benchmarking vs national trends and, over time, metropolitan areas
- Informs strategic planning efforts
- Assists in day-to-day business operations and can potentially shorten the sales cycle by increasing ability to more quickly
- Saves time–Actual Rates data is collected directly from operators’ corporate offices, removing NIC’s need to contact individual properties for data throughout the quarter.
- Confidentiality—all NIC Data reporting in confidential and reported only in the aggregate
- Good for the industry—transparency has proven to decrease cost of capital and result in more appropriate investment levels in seniors housing and care
“We’re pleased to participate in this program as a means to advance both our customers and the industry itself,” said John Damgaard, President & CEO 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.”
John Damgaard, President & CEO, 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
“We look forward to not only more of our clients participating in this important initiative, but also having other seniors housing software providers join the effort.”
Craig Patnode, CEO, Eldermark
“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
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 make the process easy for you.