Property Managers: Would you share your rental data for a fee

Property Managers: Would you share your rental data for a fee

Member since 2016 · 4 posts · 3 votes

Was contemplating this business idea and was wondering if property managers would find it interesting. One of the problems with sites like Rentometer is that it only collects rent data from public websites. That is just a slither of the rent data for a particular area (same problem as MLS rent statistics). Property managers are the ones that know best the rental data in an area based on the potential thousands of units that they manage and that a lot of time they renew without posting a listing anywhere.

So my question is: would you share your rental data (1 button click integration with the major property management software platforms like RentManager, AppFolio etc) in return for some sort of revenue sharing? I was thinking the data would get deidentified as well (if someone searches for rents in a particular area it would just tell them 2 bedrooms withing 4 miles rent for a min max average, without revealing any actual addresses). In exchange for sharing your data, you could either get an upfront fixed fee or a small fee every time your data is included in a query by a user of the service.

Does this sound even remotely interesting? Would be curious to discuss further.

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  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    I'm not a fan of sharing data. It's only a matter of time before that data is used for something other than the original purpose.

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  • Roanoke, VA · Member since 2014 · 404 posts · 203 votes
    7y

    @Vlad Taralunga I’ll bet this is why CoStar paid $68M for Cozy a few months ago...

    Yardi already aggregates the data of its subscribers and packages it as Yardi Matrix...

    It’s just a matter of time before it becomes a more widespread practice.

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