Thank you for sharing!

Your article was successfully shared with the contacts you provided.

David Cardwell, vice president of capital markets and technology for the National Multi Housing Council, is one of the key players behind the Multifamily Information and Transactions Standard. The initiative was launched in 2002 to develop a common language for real estate related software. Just this month, Cardwell released the latest generation of the MITS Core Data Model. GlobeSt talked to Cardwell about the data standard and its possible future.

GlobeSt: What led to the development of the data standard?

Cardwell: Software firms were engaged in the development and deployment of a range of applications for a variety of business purposes and apartment firms (owners, developers and managers) were looking for the solutions to be more integrated. Also, as the demand for real-time processing grew, the need for standards to move data among solutions became more important. Remember, MITS is in its sixth year and third version.

GlobeSt: Who, if anyone, had asked for it?

Cardwell: This is an industry collaborative that has involved over 150 companies during the past five years. About 75 firms participate in the effort. The standard is open and anyone can have access to the data transfer standards.

GlobeSt: How widely has it been embraced by software developers and theindustry in general?

Cardwell: Most firms that support the industry use some or most of the MITSstandards. As an open standard it is not licensed so there is no true measure of its use, but a partial list of companies that have used the standard include, but are not limited to the following:

Firms that use MITS as a guideline or framework for data transfer and integration systems: AmRent; AMSI/GEAC; ApartmentGuide.com; Apartments.com; Blue Lantern Inc.; allSource; Cedar Financial; Continental Utility Solutions; Diversified Service Ltd.; Energy Billing Systems; Equity Residential; eREI; EveryAptMapped.com; First Advantage/SafeRent; ForRent.com; Hunter Warfield Inc.; Lane Company; Lincoln Property Co., Move.com; Multifamily Technology Solutions; Mwendo LLC; NWP Services Corp.; On-Site.com; PropertyBridge Inc.; REAL ID Inc.; RealPage Inc.; Rent Check Credit Bureau; RentBureau; RentGrow; Resident Data, A Choicepoint Service; Sares Regis Group; Starnik Systems Inc.; US Dept. of Housing and Urban Development; Vaultware and Yardi.

Apartment firms that request technology providers utilize MITS in their application software: AIMCO; American Management Services(Pinnacle); AMLI Residential Properties Trust; Forest City Residential; Lane Co.; McDougal Co.; Sares Regis Group.

Firms that intend to utilize MITS as a guideline: EverGreen Solutions; Home Properties; Intuit Real Estate Solutions; Milestone Management Co.; RentBureau; Sawyer Real Estate; Spherexx.com and United Dominion Realty Trust.

GlobeSt: What about developers based outside the US? Is this standard modeled on a global initiative?

Cardwell: It is consistent with WC3 (the world standards oversight body) but we are not affiliated with any other group.

GlobeSt: How much of an improvement over the original version does this update represent?

Cardwell: This is a new release or version. It incorporates two key features, one that provides a place for parties to include custom or proprietary features while adhering to the broader data transfer standard specifications and the other is an improved set of common data elements that are used in all of the specific data transfer standards.

GlobeSt: What’s next in the evolution of the product?

Cardwell: MITS is an on-going apartment industry technology collaborative, and is what is referred to as a dynamic standard. As such, it will continue to evolve as business process and technology improvements evolve. While in our sixth year, the expectation is we are still a few years from being a mature standard.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.