RedIQ- benefits?
Anyone use them? What advantages do they give you? It seems from their marketing that their main advantage is speeding up your analysis but doesn't anyone who is familiar with a model they created have the same advantage? (I'm including a BOE analysis in this as well)
What about comps? Do they pull that info from all the RR's that are fed into their system?
Personally, not a huge fan of it. Used it this summer at my internship and sometimes it was buggy and would have some errors in it. It is a powerful software though and I could see how it’s beneficial on a large scale. Just kinda sucks when you’re the intern having to fix the problems and really dig into the rent rolls and T12s when redIQ has a hard time with them.
How would it be beneficial on a large scale?
What type of problems was it having?
I’m a huge fan of redIQ. The fact that it can read almost any rent roll in seconds saves so much time. Plus it can identify recent leasing trends and run trade out reports which helps us with underwriting. On the financials side, it makes it easy to map any seller’s T12 to our chart of accounts, and it can also auto-map it if you have a similar T12 in your database. That database of T12s is also very useful for pulling expense comps. Really at the end of the day it just gets data from different sources into a standardized format which saves a ton of time and reduces errors.
Used it before and I liked it. Its super helpful when your analyzing a ton of data with different expense line items.
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