US digital marketplace Rentpath has partnered with analytics firm Axiometrics to launch their first joint product, Insight Reports.
RentPath, whose brands include Apartment Guide, Rent.com, Lovely, Rentals.com and RentalHouses.com says Insight Reports offers floor-plan level data allowing clients to analyze rent, occupancy and other market trends.
The concise reports generated can be used to track performance in the market and against closest comparables so clients can maximize revenue and better assess the value of existing assets and potential new acquisitions.
The new tool offers two key reports, the Market Insight Report and the Community Insight Report which will be provided to clients who are advertising their apartment properties using RentPath listing packages.
The Market Insight Report provides clients with asking and effective rent, occupancy and concessions down to the floor-plan level for their particular market every month.
Meanwhile the Community Insight Report delivers clients with an analysis of their local apartment communities.
It contains the same data set as the Market Insight report, but places more focus on benchmarking against a client's closest comparables.
RentPath senior vice president of sales Arlene Mayfield says the two companies have each developed strong reputations built on trust, credibility and dedication to the multifamily industry over a combined 60 years.
"RentPath and Axiometrics are focused on creating additional innovative solutions that reflect the evolving data needs of the industry," she says.
"This is the their first joint offering."
Mayfield says RentPath clients have made it clear they don’t need large, complicated data sets that require a PhD in data science to analyze; they need intelligent, actionable data.
“The Market and Community Insight Reports eliminate the data clutter and provide national, regional and local operators and owners the concise information needed to make decisions that produce results," she says.
"And the best part is, it’s included for RentPath clients advertising with any of our listing packages.”
Dallas-based Axiometrics president and chief executive officer Ron Johnsey adds Insight Reports allow RentPath’s clients to know exactly how they measure up against their closest comparables on rent growth, occupancy, effective rent and much more at the floor-plan level each month.
“Most importantly, the reports are accurate, easy to read and analyze and they’re actionable. Gone are the days of culling through 50-page reports to find the one data point you really need to make a decision.
"We know our clients are busy, so we focused our Reports on a consistently collected set of key data points that drive you to an answer,” Johnsey says.
Axiometrics’ specialty is monitoring the apartment and student housing markets, providing an in-depth view of volatile market trends via AXIOPortal™ and the brand new AXIOMobile™ smartphone app.