redIQ announced today a significant new platform upgrade that will increase the accuracy of the rent roll data that users analyze. The new functionality will automatically flag irregular and erroneous data contained within uploaded Excel and PDF files. Instead of users manually reviewing rent rolls to look for typos, missing data, and information that was duplicated, redIQ will now automatically detect these anomalies, and highlight them for review, saving time and increasing efficiency.
These errors typically are found in over half of rent rolls. But thanks to this new functionality, redIQ users can save the time and hassle of manually searching for errors and work with data that is error-free, allowing for more time to be spent focused on deal flow.
“Rent roll data underpins much of multifamily investment, and redIQ’s goal has always been to facilitate the more accurate and efficient analysis of this data. With this upgrade, we are now able to enhance not just the format, but even the very integrity of the rent roll data that our users upload,” said Elliot Vermes, Founder and CEO of redIQ. “In addition to identifying typos, our anomaly detector will also flag correct data that is a cause for concern, such as rent figures that are well below market rates. A surprising number of rent rolls contain these sorts of errors, and we’re very excited to roll out this platform upgrade which will improve the quality of data analysis for our clients.”
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