3.5 Leasing benchmarking (subset 4.3)

3.5.1 Content and aim of process

In this process, property data, primarily lease contract data, is transferred from the owner, Portfolio Manager, Asset Manager, or Property Manager to an external benchmarking service-provider. The benchmarking service-provider uses the data provided to prepare benchmarking analyses for the data supplied by the sender (internal benchmarking), or compares this data with lease contract data supplied by other senders (external benchmarking). The aim of the leasing benchmarking is to analyze the leasing situation in a submarket, e.g., by calculating the net effective rent, taking tenant incentives into consideration, such as rent-free periods, costs for tenant improvements, etc. To this end, the submarket lease contract data available to the benchmarking service-provider has to be as up-to-date and complete as possible, covering a sufficient population.

3.5.2 Roles

In the same way as with portfolio benchmarking, the owner, Portfolio Manager, Asset Manager, and Property Manager act in the role of sender, providing the benchmarking service-provider with the corresponding data on the lease contracts.

Tab. 6: Roles in leasing benchmarking
Sender
Owner/ Fonds-/ Investment Manager
Portfolio Manager
Asset Manager
Property Manager
Recipient
Benchmarking Service-Provider

3.5.2 Data objects

Data on the following data objects is transmitted between senders and recipients:

  • Property/ asset
  • Building
  • Rental unit
  • Lease contract
  • Term

3.5.4 Import timescales

The data for the leasing benchmarking may be exchanged on a monthly, quarterly, six-monthly, or yearly basis.