In 2018, we asked our co-op clients to rank the Agency reports they receive each year from most to least useful. For co-op managers, the Co-op Data Report ranked at number 3. For board members, it came last—at number 5. So now we have another question… is your co-op getting all it can from this report?
The Co-op Data Report is a unique publication, received only by Agency clients, and personal to each one. In essence, it compares your co-op’s results with those of other co-ops (also known as peers). Drawing on information we receive from every client’s web-filed Annual Information Return, the report organizes what we’ve learned into different categories, such as vacancy loss and spending on maintenance.
A graph for each area lays out your individual performance over the past three years, as well as the peer group’s performance for the same period. At a glance, you can get a feel for how your operations differ from others. And because there may be more there than first meets the eye, we also offer a few points to consider about each ranking. In your situation, is it good or bad? It’s up to every board to talk about their co-op’s results and decide.
We understand that each client is different, and sometimes comparisons can be complicated. However, this report is perfect for helping your co-op start important discussions around possible opportunities for better results. The report can also alert you to problem areas that your board may want to address the next time directors are talking budgets or making long-term plans.
The best part? Our HomeRun website is an excellent companion to this report. It’s an opportunity for co-ops to dig a little deeper if they want more and richer information. On the HomeRun site, you will find additional areas for comparison, and you can pick your own peer groups. You’ll also find helpful stories, videos and other resources about good practices.
One final note—we are redesigning the report, which will now be called the Performance Report, because a new look deserves a new name. During the re-design, our team reviewed the report from top to bottom to make it clearer and more accessible. The Performance Report launches in 2020, and we can’t wait to see what you think. Stay tuned!