By Noreen Seebacher
Technology continues to evolve in the multifamily industry with the release of the Multifamily Information and Transactions Standards initiative’s next-generation data standards. Since the National Multi Housing Council launched the initiative in 2002, it has released seven voluntary and freely available sets of data standards covering such things as apartment operations, resident screening, property marketing and physical asset management.
The data standard creates a common language for software, enabling programs from multiple vendors to communicate correctly. With a shared multifamily data dictionary and an extensible mark-up language (XML) protocol, it has proven significant within the multifamily industry.
Industry experts say the standard can also reduce the cost of software development and data handling, make it easier to customize technologies, improve data collection and streamline business processes. Full Story>>
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