Nizel Pradhan
Multifamily data goes stale quickly, whether you are surveying rents or occupancy levels, it can be hard to trust the accuracy of legacy data providers. A new proptech company – Plot-Z – is developing solutions to the daily problems that multifamily asset managers face with an array of real-time tracking tools for current and historical data.
By utilizing natural language and image processing technologies, Plot-Z’s software saves asset managers and acquisitions specialists time on due diligence exercises. The flurry of underwriting, cleaning datasets, and building reliable surveys are problems of the past. Plot-Z removes the guessing game from spotting important market trends – rent plateaus, absorption rates and diminishing ROI – and offers easy reporting like Excel exports.
Industry veterans have advised on Plot-Z’s development, including Perry Pound, previously a Managing Director at Greystar (Southern California). Currently Plot-Z works with established multifamily owners such as Sentral and others in the 4,000-40,000 unit range, to determine weekly pricing and secure financing for new deals. The company’s founders bring a decade of expertise in enterprise SaaS and real estate – the CTO, James Guo Wenyuan, is a second time startup founder, having led another SaaS company, Tradex, to generate millions in annual revenue.
Plot-Z plans to expand product coverage to include all major multifamily markets nationwide by the end of 2023. As they continue to develop their platform’s predictive capabilities, users will be assisted in determining ideal pricing based on details such as unit mix, amenities and floor levels. The company’s CEO, Hui Zhen Ng, has been working with multifamily groups to determine how these data points affect each unit’s pricing, and is on a mission to innovate how the multifamily industry designs and prices rental units.
Request a demo at plot-z.co to try the platform free for 30 days through December, 2022.
