X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The Multifamily Information and Transactions Standards (MITS) is a complex technology initiative with a simple objective: it wants to make it easier for apartment-related software to talk to each other.

Since the National Multi Housing Council established it in 2002, MITS has produced nine voluntary and freely available sets of data standards covering a variety of apartment operations, from resident screening to property marketing to physical asset management. Now the initiative will benefit from the complimentary technical services of one of its own partners, a NMHC executive says.

David Cardwell, NMHC’s vice president of technology, says Kroll Factual Data has agreed to provide free technical oversight and support to the industry-wide data standards initiative. NMHC provided technical support in-house until staff reductions last year, Cardwell explains. For the past year, it paid for support from a third party vendor.

Kroll Factual Data has been involved with the MITS initiative for more than four years. “This new partnership will take development of data transfer standards to the next level,” Cardwell says.

Damon Littlejohn, senior vice president of sales and specialty services for Kroll Factual Data, called it a “natural extension” of the company’s long-term support of the MITS initiative and looks forward to developing “the next generation of MITS standards.” Cardwell said the MITS initiative grew out of a desire for standardization across multiple platforms.

Software firms were engaged in the development and deployment of a range of applications for a variety of business purposes. Apartment firms, including owners, developers and managers, wanted integrated solutions, he said, adding, “As the demand for real-time processing grew, the need for standards to move data among solutions became more important.”

The standards–which are freely available to software developers and apartment firms–serve as the high-technology version of building codes, allowing faster delivery of more sophisticated software products and smoother software integrations for those who want “best of breed” systems for their various operations.

MITS is a dynamic standard. “It will continue to evolve as business processes and technology improvements evolve,” Cardwell says.

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

GlobeSt

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.