What software does everyone use to run their multifamily rent comps?
Our shop isn't a multifamily specific group but we get serious on a few multi deals a year. We always resort to CoStar for rent comps, but all CoStar does is take the asking rents for a property for whatever handful of units they have available at the time and averages it which to me is pretty inaccurate given how much asking rents can move on a daily basis. Is there a better software out there that has a better way of tracking it?
Yardi Matrix is pretty great. You can filter properties in your area and get real financials from even the previous month. You can't get financials on a specific property, but it is blended. Many multifamily properties use Yardi, so their financials get stored into a database that are shared.
For example, I want to look at class A, 2015 or newer properties in a specific submarket in Atlanta. Let's say there are 8 properties that meet this criteria. You will be able to see a proforma/rents/OpEx summary for these 8 properties combined.
CoStar sucks. Axiometrics is best.
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