ApartmentIQ found that owners and managers with 100 properties spend approximately $300,000 a year in manual market surveys.
That’s money taken from your bottom line. The process of manual market surveys has always been slow. Leasing teams spend long hours aggregating data into spreadsheets, which can lead to overtime as manual market surveys cut into their day-to-day customer service and property maintenance responsibilities.
Staff wages
Reporting frequency (weekly, monthly, and quarterly
Time spent on data versus other priorities
Concession details attracting renters
Total units of comparable properties
Leasing velocity growth/decline
Hidden availability of units
Average rent of the competition
Unit mix at properties
Amenity comparisons
Gross rent
Net effective rent (NER)
Total available units
New available units
Days on market
Date of availability
Modernize Your Market Surveys Using AI-Driven Software
Using manual market surveys comes at a steep price. It’s costing multifamily businesses hundreds of thousands of dollars in time and labor collecting data–heavily impacting customer service and property maintenance.
There’s a more intuitive solution to gather comp data.
ApartmentIQ is transforming the way properties are approaching market surveys. Using AI-driven software and 100% public data, multifamily professionals accelerate workflows and prove market success with automated, accurate, and compliant insights.
It’s time to modernize your market surveys to save costs and have confidence in your data.