Research Reports allow you and your team to assess new business opportunities and gather precise rental data to enhance underwriting and assumptions in forecasting models.
In this article we will discuss the following:
Overview
ApartmentIQ’s Research Report functionality allows you and your team to efficiently create automated Market Surveys for properties under consideration for investment, business development, or acquisition. Whether your team is focusing on new developments, or value-add strategy, ApartmentIQ makes it easier than ever to find the most accurate comps for any property (even when it doesn’t yet exist).
Key Features
- Automated Market Surveys: Quickly generate a comprehensive Market Survey by simply searching for the property’s address.
- Relevant Comps: Instantly receive a list of highly relevant comps to assess property's performance relative to the market.
- Value Add Comps: Quickly develop a market survey for research that includes value add comps, increasing comp prices by 10–15% above the current median for each bed type.
- Configurability: Easily refine and edit the recommended comps to match your specific needs.
- Public Data Access: Utilize publicly sourced data to eliminate guesswork and enhance decision-making.
- Custom Subject Property: View and analyze a comp set for properties that do not yet exist. Create accurate projections for New Builds or Value-add strategies.
Benefits
- Time Efficiency: Save hours during the underwriting process with automation.
- Informed Investment Decisions: Make data-driven choices with publicly sourced data, reducing reliance on anecdotal information.
- Enhanced Projections: Accurately estimate performance for new or significantly altered properties.
Build a Research Report
Ready to build a Research Report? Let’s discuss the two main use cases - creating a Research Report for acquisition purposes, or and creating a Research Report for new development opportunities.
Research for Acquisitions
- Login to ApartmentIQ
- Along the left hand side of your home page, select Research.
- Click New Report.
- Search by property name or address.
- Click your desired property.
- ApartmentIQ will create a Market Survey for research on demand. You will see your desired property highlighted in orange, and our system generated comps.
- Edit the system generated comps at any time by clicking Edit Comps in the top right hand corner.
- From here, there are 3 ways to add comps to your Research Report.
Add From Search
- Click Add Comp to search by property name or address.
- Search to see if the property exists in our database by typing in the address of the property. If it does, the property will immediately pull into your comp set.
- If the competitive property does not exist in our system, you can request that the property be added into the system. Simply click request to add new property.
- Include the competitive properties address and select submit. Our Implementation and Support team will investigate and follow up via email if they were able to successfully build and add this property to your market survey. Please note, this process can take up to 2 business days to complete.
Add a Comp From a Curated List of Similar Properties Nearby
- You can also add a comp by viewing suggested similar properties. Click Add to include a property in your Market Survey.
Add a Comp via Interactive Map
- Lastly, you can search for comps close to your subject property by leveraging the interactive map function. See suggested comps and add them to your Market Survey by clicking Add Comp.
Research Using Value Add Comps
Pursuing a value-add strategy? Easily create a curated market survey with aspirational comps.
Simply toggle this feature when creating a new Research Report. Leveraging this feature will direct ApartmentIQ to pull comps in your market that are 15-20% above the current median for each bed type.
This can be a helpful tool when your team is considering renovations of a subject property or proposed acquisition.
Research For New Development
- Login to ApartmentIQ
- Along the left hand side of your home page, select Research
- Click New Report
- Select Create Custom Property
- Include property parameters such as proposed property address, year built and total units. Additionally, include proposed beds, SQ footage, and rent prices. Add additional unit types as needed.
- Click Save Property and Generate Comps. You will now have a customized comp set for your proposed development!
Suggestion
Need some suggestions for units to include at your proposed property? Click Suggest Unit Types and we will create options for you.
Once Suggested Unit Types have been selected, or you have entered in your own Unit Types, you can identify the total number of units you would envision the property including should you wish.
Additionally, feel free to add additional floor plan styles as shown below. The more detailed you are in this first step, the better.
FAQ
Who will have access to this feature?
This feature is sold on a pay per-seat basis. Should you be interested in this feature, please reach out to your Customer Success Manager.
Is there a limit on how many reports I can make?
No - you can create and edit as needed.
How are comps generated for a Research Report?
We look at features like pricing, distance, year built, and total units to automatically recommend comps to get you started. Edit these comps at anytime.
Can I edit the comps in my Research Report?
Yes- remove and add comps easily by exploring comps near you, or search directly for known comps with ease.
How does a custom subject property work?
Include basic property details such as address, year built, total units, and rent - ApartmentIQ will automatically generate a report for you.
Can I export my Research Reports?
Yes - you can export any report you create in either a PDF, CSV, and Excel format.
Who can see the reports I create?
If you are an Admin User, you will see all Research Reports generated for your account.
If you are any other user role in the system (Manager, Editor, Read Only), you will only see the Research Reports that you create.
Should you have any continued questions regarding Research Reports, please contact your Customer Success Manager (CSM) or reach out to our Support Team via email at support@apartmentiq.io.