BH Companies today announced that BH Management Services has been selected as winner of the “Real Estate Analytics Platform of the Year” award in the inaugural PropTech Breakthrough Awards program conducted by PropTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout real estate technology companies, products and services around the globe.
BH Management Services’ in-house, proprietary data visualization platform BH Fusion consolidates operational, financial, and benchmark data into dashboard views that drive performance and provide transparency to team members, investors, and clients. BH Fusion provides portfolio-level analysis, giving teams at-a-glance asset intelligence, benchmarks, and targets that they can use to identify successful strategies. Each dashboard offers key data points that give important insights so that BH can target areas that will have the greatest impact on NOI.
BH Fusion is able to consolidate data from multiple sources into business intelligence dashboards. For these dashboards to provide reliable information, BH Fusion cleanses and maps incoming data so that it is compatible with the entire system. There are ninety-five available dashboards, including: Community Manager Dashboard, Daily Payments Dashboard, Virtual Interior Progress Report, BH Advantage which offers revenue management insights and the Marketing Financials Dashboard.
With the powerful insights available through BH Fusion, the BH portfolio has seen new lease rents improve by 24.2%, renewal rents by 14.9% and overall revenue increase by 12.3%.
“In 2017, BH Companies managed just shy of 70,000 apartment units across the country. With data flowing in from several disparate systems, making decisions was fragmented and tedious. Additionally, with the multifamily industry experiencing an increase in investment and construction, we knew that the key to growing our portfolio rested in strong business intelligence,” said President and CEO Joanna Zabriskie. “Today, BH has more than 100,000 units under management, a significant milestone reached, in part because of our industry-leading intelligence platform. We are so incredibly elated that PropTech Breakthrough has seen fit to award our innovation in the space. The award belongs to the entire team nationwide.”
The mission of the annual PropTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions and products in the real estate technology industry today. This year’s program attracted more than 1,350 nominations from over 12 different countries throughout the world.
“In this highly competitive and dynamic industry, delays in decision-making lead to missed opportunities. Wider access to real-time insights on demand allows for faster and more accurate decision-making. The democratization of our data allows all stakeholders to be informed with the same data, which in turn reveals strengths and weaknesses throughout a portfolio,” said Bryan Vaughn, Managing Director of PropTech Breakthrough Awards. “By collecting and organizing data into one single source of truth throughout the company, BH Fusion offers every decision-maker the same Key Performance Indicator insights. Though we had a slew of really deserving candidates, BH Management is our choice for the ‘Real Estate Analytics Platform of the Year’ award.”
BH Fusion is used across all 340 properties and 100,000 units in the BH portfolio. BH has an internal team of business analysts, who use Fusion to understand property performance and make strategic recommendations.
About BH Companies
Founded in 1993, BH Companies is a vertically integrated multifamily owner-operator with a proven track record of success in acquisitions, financing, renovations, and property operations. We believe that our people are what elevates us, that trust fosters innovation, and that doing business the right way is the best way. Powered by a performance-driven culture and tech-forward approach, BH has become one of the largest multifamily companies in the United States, with 100,000 units under management. Recently named “Best Workplace for Women”, “Best Workplaces for Diversity” and “Best Workplace for Millennials” by Fortune Magazine, BH Companies is strengthened by more than 2,400 employees across the United States. For more information, visit bhmanagement.com
About PropTech Breakthrough
Part of Tech Breakthrough, a leading independent market intelligence organization for global technology innovation and leadership, the PropTech Breakthrough Awards program is dedicated to honoring and recognizing the creativity, hard work and success of companies, technologies and products in the larger field of real estate technology. The PropTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough Real Estate Technology companies and products in categories including Financing, Property Management, Short Term & Vacation Rental, Shared Space, Marketplaces, Investment & Crowdfunding, Agent Tools & Services, Property Closing, Insurance, Construction Tech and more. For more information, visit PropTechBreakthrough.com