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places an old model that used manual processing and spreadsheets, which is error-prone, says Tao.Creating a bridge between the various software packages is Multifamily Information and Transaction Standards (MITS). Some of the newest MITS have been especially valuable to apartment companies for their help in linking the companies’ systems to their Internet Listing Services (ILS). “For example, we all use ILS to market and advertise our properties. Every time pricing, availability or even pictures change, we change this data once in the property management system and all of our ILS listings are updated via the MITS feed,” says Reeves. “Really, every business process has been helped by the new technology.” To comment, email keat.foong@nielsen.com.

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