Axiometrics

Methodology

The Axiometrics database contains tens of thousands of properties in markets across the US. Axiometrics proactively surveys 100% of our stabilized, lease-up and construction pipeline properties by phone every month. Additionally, the thousands of the properties in our database on daily pricing programs (revenue management) are updated weekly. Our unbiased methodology does not depend upon busy owners or property managers to return surveys. Rather, our trained researchers converse with the on-site leasing agents, providing us additional apartment data about a property's performance, current pricing by floor plan and unit, concessions, amenities, and renovations.

Our detailed database includes the following apartment data:

• Same Store – To be considered a same store property, a property generally must be in our database, stabilized (meaning it reaches 93% occupancy and is no longer under construction, lease-up, or rehabilitation), and tracked, for annual measurements, for 13 sequential months or five sequential quarters and, for monthly measurements, for two sequential months and for quarterly measurements, two sequential quarters.
• Asking Rent – Also known as the "market or street rent". We include this rent as a reference point for our clients so they can see the price that the concessions come off of. Example – A leasing agent at the property being surveyed tells us that the rent is normally $1,000.00 per month for a one bedroom/one bath unit, but they are offering one-month free upfront with a 12-month lease. The reference rent or asking rent for this unit would be $1,000.00.
• Effective Rent – Also known as the "net rent". This rent shows what the unit is actually leasing for after all concessions (both upfront and prorated) are taken out of the price. Example – A leasing agent at the property being surveyed tells us that a one bedroom/one bath unit normally leases for $1,000.00 per month, but they are offering one-month free upfront and one-month prorated with a 12-month lease. The effective or net rent for this unit would be $833.00.
• Level of Economic Leasing Concessions – Percentage of the units within a portfolio or market that are offering economic concessions. Example – The level of economic leasing concessions decreased for the fifth quarter in a row, dropping from 50.6% of the units offering concessions in 4Q02 to only 28.9% of the units offering concessions this quarter.
• Value of Economic Leasing Concessions – The dollar amount difference between the Asking Rent and the Effective Rent, and what percentage of that dollar amount each type of concession represents. Example – asking rent is $1,000.00 and the concession being offered is one-month prorated with a twelve-month lease. The Effective rent is $917. The dollar difference between the Asking Rent and the Effective Rent is $83.00 and 100% of the value of the economic concession is free rent prorated.
• Concession Abbreviations – The meanings of the abbreviations that we use to identify the different concession types within our database.
  • CN – Concession Type
  • MU – Month Free Upfront
  • DU – Dollar Amount Free Upfront
  • MP – Month Free Prorated
  • DP - Dollar Amount Free Prorated
  • DR – Dollar Amount Reduced
  • LT – Lease Term
  • CT – Concession Term
• Concession ID's – The identifiers that we use within our database to represent the concession being offered.
  • Free Rent
  • Prorated Rent
  • Free & Prorated Rent
  • Free & Reduced Rent
  • Prorated & Reduced Rent
  • Reduced, Prorated & Free
  • Reduced Rent
  • No Deposit
  • Lowered Deposit