March 2024 HelloData Platform Updates

Published by
Marc Rutzen
March 25, 2024
March 2024 HelloData Platform Updates

Quick Update: HelloData now has over 750 active users! We've been adding dozens, and sometimes hundreds, of new users each month, primarily driven by word of mouth referrals. And on a single day this week we had 104 users generate reports in the platform... that's huge!

We're incredibly grateful to each and every one of our clients for their faith in us and their continued feedback to help shape our product roadmap. You've helped make HelloData into what it is today, and the best way to show our gratitude is to keep building what you ask for.

On that note, check out some of HelloData's newest features below!

New Feature: Future Availability Graph

Schedule a demo with our team to see how it works!

Future Availability Graph
Click on a week and see units that will become available during that time range

Knowing what happened each week in your market is very important, but knowing what is going to happen is even better.

Because we now track more than 55k property websites across the U.S. every day, capturing data directly from the leasing pages of each website, we see which units will be available in the near future.

The new "Future Availability Graph" in HelloData shows how many units your closest comps will be bringing to market over the next 6 months. If you click one of the bars, you can see the specific units that will be competing with you in the future.

We're really excited to release this feature - should be a game changer for property managers crafting their pricing strategies.

Unlocking Floor-by-Floor Pricing Insights with AI

Floor Detection
Using our hand-made AI model, detect important components from unit names.

Why add floor detection as a feature? It started with an experiment. We detected tens of thousands of floor numbers from apartment unit names in Chicago, then analyzed the price per floor, and the price per floor number. The results were quite interesting... it turns out each floor you go higher in Chicago is worth on average $0.013/sqft after controlling for other variables.

New Feature: Estimated Unit Mix

Rent roll level accuracy... without the rent roll.

Estimated Unit Mix
Easily dive into the estimated unit-mix.

Since HelloData only collects data from publicly available sources (an intentional part of our approach to revenue management), one of the things we haven't been able to provide is a unit mix... until now.

Since last June, we have been surveying data from millions of units every day to recreate multifamily rent rolls piece by piece. Now we have enough data to derive estimated unit mixes for every property, and to show the price, leased date and time on market for every unit that makes it up.

Property managers, investors, brokers and appraisers all use HelloData to analyze multifamily comps, optimize rents, and increase deal flow.

Marc Rutzen

Marc worked in real estate for 5 years before launching multifamily analytics startup Enodo, which he sold to Walker & Dunlop (NYSE: WD) in 2019. At W&D, he served as Chief Product Officer, developing products that helped source billions in loan volume. Outside of work, he enjoys reading, running, and spending time with family.

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