Multifamily data warehouse requirements: an RFP scorecard

Two vendors can both say they support your property management system and still deliver different portfolios. One might supply five years of monthly balances. The other might supply transaction detail for only the current manager. Give each bidder the same property list and ask for evidence against the same requirements.

Set the conditions every bidder must meet

Before the demo, list the properties, managers, source systems and reports the first rollout must cover. Mark any requirement that can rule out a bid. For example, if a manager may see only its own properties, require a test with two separate accounts. If investment committee reporting requires historical transactions, a dashboard with opening balances alone does not meet that requirement.

Request a coverage sheet with one row per property and source. For each row, ask for the earliest available date, record detail, refresh schedule, approval owner and known gaps. Use an approved sample or fictional records for the demo.

Score evidence from each bid

The weights below are an example for an owner with several property managers. Set your weights before you review proposals. Score each item from zero to five. Give zero for missing evidence, three for a partial demonstration with a documented gap, and five when the demonstration meets the full requirement. Multiply the weight by the score and divide by five.

• Source coverage and history · 30 points. Ask each bidder to trace a property through a manager change. Check whether old and new identifiers map to the same asset. Ask which closed periods can still be reproduced.
• Access to records and documents · 25 points. Have one manager open its own ledger and lease amendment. Try the same report, search and document link from the other manager’s account. Record what each user can see.
• Report accuracy · 20 points. Provide the same property, closed month and source report to both bidders. Ask them to reproduce the total and explain any difference. The rent collection acceptance test gives a worked example.
• Refresh and support · 15 points. Ask for a demonstration of a late file. Check whether the report shows its last successful update, who receives the alert and who can run the load again.
• Export and exit · 10 points. Request a sample export with identifiers, history and metric definitions. Have your analyst open it outside the vendor’s tool. Ask the bidder to state timing, fees and any limits on reuse in its proposal.

Compare two fictional proposals

In the order above, Bid A scores 5, 3, 4, 4 and 2. Its weighted total is 30 + 15 + 16 + 12 + 4 = 77 out of 100. Bid B scores 4, 5, 4, 3 and 3. Its total is 24 + 25 + 16 + 9 + 6 = 80 out of 100.

Now check the mandatory conditions. Suppose Bid B supplies only 12 months of transaction history for the outgoing manager. The owner requires 24 months. Keep the bid open only if the bidder can demonstrate the missing history by the agreed decision date. The extra three points cannot supply a missing year of data.

Give the decision owner a record they can use

For each open item, record the property, requirement, evidence reviewed, gap, person responsible and retest date. Separate capabilities demonstrated today from work promised after signature. Finance can sign off on report accuracy, operations on source coverage and the access owner on permissions. Keep the completed scorecard with the final scope so the implementation team can repeat the tests.

For an example of the two delivery options a bidder can describe, see Leni’s real estate data warehouse service. Your team can scope Leni’s prebuilt warehouse or connect an existing one. Confirm the supported sources, history and access for your portfolio.