HelloData Reviews:Leverage AI for Real Estate
About HelloData AI
HelloData has several AI tools to help accelerate construction takeoffs, automate estimates and convert scanned architectural plans to usable data. It uses an algorithm to extract room types, dimensions, square footage and features from multifamily unit floor plans, which can be used for space planning, market analysis and supplementing listing data. It can also be used for batch processing property living areas for tax assessment, renovation project layout and budget planning, as well as estimating for construction contractors. To access the tools, scroll down to the bottom of their page and check the products tab. With their FloorPlans tool, you can digitize floorplans and extract data such as room size and area. They also have a RealType tool that can generate a full property description from address, perfect for creating quick and effective real estate property descriptions.
Leverage AI for Real Estate
Multifamily Comps & Asset Optimization
Analyze Comps. Optimize Rents.Grow NOI.
HelloData uses AI to analyze multifamily rent & expense comps, optimize rents, and grow NOI in any market.
- Automated Rent Comps Analysis
- Recommended Rents by Unit Type
- 25k+ Expense Comps with Real Financials
- Historical Rent Trends
- Lease-up and SFR/BTR Pricing
Whether you want to improve operations or underwrite deals quickly and accurately, HelloData is for you!
Why work with HelloData.ai?
More Deals. Better Operations. Higher NOI.
Multifamily operators and acquisitions teams use Hello Data to improve operations and deal flow. Appraisers, brokers and lenders use it to automate the underwriting process.
Automated Rent Comps
Instantly identify rent comps for a subject property using property, unit, and market data as well as our AI property photo analysis.
Daily Updates
We collect updated rent, availability and property data every day, so you’ll always have the latest intel on the competition.
Historical Rent Trends
Analyze your comps’ historical rents and concessions to understand the market and get a peek at everyone’s pricing strategy.
Real Expense Comps
Analyze real operating expense data from over 25,000 expense comps nationwide to help you improve operations and analyze deals.
Effective Rents
We analyze the text from advertised specials and extract concession amounts. Now you can see the actual rents paid by renters.
National Coverage
Your subscription gives you access to the entire US market. No geofencing or per-market pricing. You get it all.
Revenue Management
Get recommended prices for your available units, powered by your closest comps and real-time market data. No integration required.
Property Image Analysis
Our algorithms assess real estate quality from millions of listing photos to help you identify similar properties like a resident would.
Excel Exports
Our data can be exported to Excel. Feel free to build your favorite models on top of our analysis to get ahead of the competition.
Leverage AI for Real Estate with our APIs
HelloData.ai integrates with your real estate products and workflows
Hello Data was built for both real estate professionals and PropTech companies. Our APIs and bulk data feeds help CRE tech innovators build data-driven products.
RentSource: Automated Multifamily Rent Surveys
Our apartment rent survey tool collects data on about 1.5M properties every day, including rent & availability, fees, and concessions, and sends you weekly updates on rent comps.
QualityScore: Property Photo Analysis with Computer Vision
Computer vision algorithms that analyze interior and exterior property photos to objectively quantify condition and quality of apartments and single-family rentals.
LiquidRent: Multifamily Revenue Management
An intuitive revenue management system that integrates with any property management software and recommends optimal rents by floorplan.
Automated Multifamily Market Analysis
Elevate Your Multifamily Underwriting & Operations
Property managers and acquisitions teams are both struggling with massive workloads, and no one has time to learn another complex real estate software product.
At HelloData, we believe in building intuitive interfaces and APIs that are easy to integrate with your existing products and workflows.
We’ve built a system that lets you instantly understand market rents, concessions, and operating expenses for any property, in any market, with only an address.
Customer Reviews
“Within days of using HelloData it was clear the tools they’ve developed far exceeded our prior resources/tech products for evaluating rent comps, expense benchmarks, and detailed historical data. And they do so at a fraction of the cost of their competitors, in any market across the United States.
Their platform has been a game changer for our team and is better every single time I log into it. Truly phenomenal.”
FAQ
Where do you get your data?
Our data comes from both public and paid sources. We monitor thousands of property websites and listing sites every day to see when new listings hit the market, how long they stay on the market, how their prices adjust over time, which concessions they are offering, and when each listing is taken off the market.
By monitoring listings every day (vs weekly or monthly updates) and capturing the last listed rent before each unit is taken off the market, the rents we capture are within $5-10 of the actual leased rents on a rent roll. It’s the closest you can get to knowing a property’s actual rents without owning it.
In addition to listing data, we use detailed income and expense data from real properties to power our expense benchmarks. The benchmarks use public financial reporting data, paid sources, and proprietary algorithms we developed to standardize and normalize the data for prediction.
We also use demographic and economic data provided by the census bureau to control for differences between markets.
Does your revenue management solution handle lease ups?
Yes! Since our pricing model uses 100% market data, we are the only revenue management system for lease ups. We show the relationship between price and days on market, which helps property managers see the impact of various price points on occupancy and NOI.
How do you calculate your income and expense benchmarks?
First, we average the last 90-days worth of recently closed listings (taking the last listed price before each unit was taken off the market, which is very close to the actual rent) to get an average rent per unit for the property. We then multiply this by the number of units in the building to get GPR.
Next, we use the 10 most similar expense comps (determined by similarity of year built, number of units, location and GPR per unit) to provide a benchmark for each income line item as a % of GPR. We then multiply the estimated GPR by the computed % of GPR benchmarks to generate estimates for the remaining income line items.
After we have the estimated EGI, we use the expense comps again to generate benchmarks for each expense line item as a % of EGI. We then multiply the computed EGI by the benchmarked % of EGI values to estimate the amount of each expense line item.
What is your typical contract term?
Our interface contracts for individuals are month-to-month, and for organizations they are typically 1-year contracts. API contracts are tailored for each customer, but typically include a per query charge and a monthly minimum.
How do you ensure data privacy?
We use advanced security measures to protect the data in transit, including encryption and data masking. Additionally, we comply with data privacy regulations such as GDPR and CCPA.
Do I need a separate API Key for each product?
Only one API key is needed to use every product. You can try every product with an API key, but LiquidRent.ai and AnyExtract.ai do require some setup. Please contact us and our team will work with you to onboard those products.
