It’s not just our co-op clients who benefit from performance data from the Agency. We also like to share aggregated data with our stakeholders and earlier this fall, we released an updated version of our one page Snapshot Reports.
For management companies and co-op housing federations, these reports can provide a valuable overview of housing co-op performance trends through 12 key metrics drawn from co-ops’ annual reporting.
Management companies use these reports to get a portfolio view of their clients to see how well they are performing as a group. Of particular interest to managers are year-over-year trends in housing charge arrears and vacancy losses which are within their control.
Co-op housing federations tell us that the Agency’s Snapshot Reports serve as powerful tools for education and service planning. Sticking with the example of housing charge arrears trending in a negative direction, it might make sense to address the issue by building in workshops on the topic at an upcoming education event.
This year, we have also added a new measure: on-time annual filings.
The data reveals a significant opportunity for improvement—only three out of 23 reports showed increased timeliness in filing, while the rest showed either a decline or no change compared to last year. This highlights a widespread need for co-ops and their auditors to prioritize timely filings.
By being proactive and using the data in the Snapshot Reports, both federations and management companies can identify and address emerging challenges before they grow into larger problems.
One of our biggest goals here at the Agency is to help the co-op housing sector turn co-op data into actionable insights, and, in turn, to help co-ops become more successful and sustainable.
Curious about our Snapshot Reports? Reach out to us to learn more.