REMIT 20 - ReMark: empowering investors and asset managers through nationwide benchmarking and performance analysis
WHAT: A nationwide benchmarking and performance analysis of rent and service charge collection rates and other aspects of property and asset management
WHY: Using data to empower investors and asset managers, allowing them to monitor portfolio performance and enhance values
WHEN: 2010 - present day
Since its inception in 2010, Remit Consulting's ReMark survey has been at the forefront of evaluating and benchmarking the performance of the UK's property management sector. What began as a biennial survey of rent and service charge collection, used by commercial property managers, asset managers and investors to benchmark their performance, has since regularly become front-page news. The Financial Times, The Times, The Telegraph and many other national publications frequently rely on ReMark data due to its ability to accurately reflect the market and help inform government policy.
ReMark's coverage spans 125,000 leases with an annual rent value of £9.4 billion and a service charge value of £1.5 billion.
Adapting to the changing landscape
ReMark underwent a significant transformation in early 2020 due to the unprecedented impact of the Covid-19 pandemic on rent collection. The resulting closure of non-essential businesses and the shift to remote work for millions of employees had a profound effect on the real estate market, necessitating more frequent analysis.
Quarterly insights for informed decision-making
In response to the pandemic, Remit Consulting shifted its focus to analysing the collection of rent and service charge payments on a quarterly basis. This proactive approach has equipped landlords, investors, property managers, asset managers, and even the British Government with ready access to invaluable data on rent collection nationwide. During the pandemic, the government has utilised the ReMark findings to make informed policy decisions regarding the real estate market.
Driving industry standards and collaboration
Through its extensive analysis and benchmarking, ReMark has emphasised the need for improved industry-wide data standards and data capture. The study has also highlighted the benefits of collaboration and data sharing, fostering a spirit of cooperation and knowledge exchange within the industry.
The impact of REMark
Remit Consulting's ReMark survey stands as a testament to the firm's commitment to data-driven insights and elevating the standards of the property management sector. By continuously monitoring rent and service charge collection rates and other aspects of property and asset management, ReMark equips investors and asset managers with the knowledge they need to thrive in an ever-changing market environment. As ReMark evolves in response to industry needs, its impact on the real estate investment market is set to remain profound well into the future.
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