RealPage calls it the industry’s first on-demand, AI-driven underwriting analysis of asset value designed to reduce investment risk and speed up deal flow.
Real estate software and data analytics provider RealPage has announced the launch of RealPage Underwriting Analytics. The company says it is the industry’s first on-demand, artificial-intelligence-driven analysis of asset value designed to reduce investment risk and accelerate deal flow. It combines industry standards for rent comps, sales comps and pipeline with lease transaction-enabled data. Together this produces accurate estimated values for tens of thousands of multi-family properties.
“For multifamily investors, a majority of their return on investment comes from capital management, what you buy, where you buy, and when you sell,” said Steve Winn, RealPage CEO. “Until now, investors have made these decisions based on time-consuming analyses and expensive market studies that evolved little in recent cycles. Underwriting Analytics reflects our North Star commitment of innovation and simplicity providing the industry with highly accurate and valuable answers.”
Underwriting Analytics gives real estate professionals and investors access to RealPages data science and data-set anytime, anywhere. It can be accessed through RealPage’s website and features an easy to use and highly customizable interface based on a variety of investment strategies, and provides real-time insights on property value.
RealPage is offering free access to market and property performance analytics including market and property levels, effective rent, rental concessions, and occupancy for millions of units.
Keith Dunkin, Senior Vice President of Asset Optimization, shared the genesis of this innovation. “We leveraged our success in predictive analytics with YieldStar and LRO, and introduced an expanded artificial intelligence approach to correlate our survey-based rents with our highly accurate lease transaction benchmarks to produce a synthetic NOI and assessment of value for these assets.”