Emerging technologies are rapidly transforming the landscape of business. Although a technological transformation is occurring slowly in commercial real estate, vast momentum in the last year provides a glimpse into the future. As I wrote earlier this year in my post on commercial real estate technology (insert link), much of this innovation allows us to perform everyday tasks faster and with more precision.
The following are some of my favorite ways to quickly understand demand metrics in a micro-market – namely “asking rents”. There are myriad services that provide rental rates based on a subscription model. And those services provide useful data. The below allow quick glances, are mobile optimized – and frankly, are a lot of fun to explore.
As an owner, the usefulness of these services transcends simply understanding comparable asking rents. Opportunities exist for best-in-class marketing, understanding the choices and predilections of your renter and gathering data for possible reposition or sale strategies.
Lovely – www.livelovely.com
Radpads – www.onradpad.com
Zumper – www.zumper.com
Zillow – www.zillow.com (watch for Zillow to try to conquer this space!)
Padmapper – www.padmapper.com
Hotpads – www.hotpads.com
Apartment List – www.apartmentlist.com
Apartment Guide – www.apartmentguide.com
Rent.com – www.rent.com
Comfy – www.rentcomfy.com (geared toward student housing)