HelloData is a cutting-edge real estate analytics platform designed to streamline and enhance the process of analyzing rent and expense comparisons, optimizing market rents, and benchmarking operating expenses for multifamily properties. Here’s an overview of what the product does and its key features:
What HelloData Does
HelloData utilizes artificial intelligence (AI) to collect, analyze, and provide insights on multifamily rent and expense data. The platform is tailored for multifamily operators, acquisitions teams, appraisers, brokers, and lenders to improve operations, deal flow, and investment analysis.
Key Features
Automated Rent Comp Analysis
HelloData automatically identifies and surveys rents from the most relevant comparable properties in any U.S. market. Its rent comp recommendations align with appraiser selections 9 out of 10 times, ensuring high accuracy.
Real-Time Data Updates
The platform updates rent, availability, and property data daily, providing users with the latest intelligence on the competition. This includes historical rent trends, concessions, and recently closed listings.
Granular Data Analysis
HelloData offers granular data down to the unit level, including full unit-level price history for every property. Users can analyze average rents by unit type, rent comparisons, historical rent trends, unit availability, and amenities and finishes ratings assisted by AI.
Expense Benchmarking
The platform provides real operating expense data from over 25,000 expense comps nationwide, helping users improve operations and analyze deals more effectively.
AI-Driven Property Analysis
HelloData’s AI algorithms analyze property photos to quantify curb appeal, assess the physical condition of properties, and extract room types and amenities with over 95% accuracy. This includes identifying features such as balconies, patios, corner units, and recent renovations.
User-Friendly Interface
The platform boasts an intuitive and fast user interface, allowing users to generate a full rent survey and expense benchmarks in less than a minute. The onboarding process is quick, taking about 5 minutes, and includes in-depth training and demos as needed.
Customizable and Exportable Reports
Users can create infinite reports across any U.S. market without geographic limitations. Reports can be customized and exported flawlessly into Microsoft Excel, ready for integration into proforma underwriting models.
Pricing Recommendations
HelloData’s LiquidRent feature uses supply and demand data to recommend pricing that maximizes rent and minimizes vacancy for apartment units and renewals. These recommendations are delivered via email and API, allowing integration with any property management system or other PropTech platforms.
Notifications and Alerts
The platform offers email notifications for updates on buildings and unit information, enabling real-time monitoring of market changes and immediate reaction to new data.
Pricing and Accessibility
HelloData is available for $250 per month, with a free 7-day trial period. Users can also benefit from a 10% discount on the first 12 months with a specific promo code.
In summary, HelloData revolutionizes the way real estate professionals conduct rent comp analysis by providing highly accurate, granular, and real-time data, all within a user-friendly and cost-effective platform.
