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Real Estate Data Analytics for Rental Property Owners

A Mini Model House Sitting on a Financial GraphAs a Mamaroneck rental property owner, you understand well that making and executing informed decisions is necessary for your success. Although, it is indeed true that gathering accurate and up-to-date information can be tricky. In the past, real estate investing was based more on speculation and educated guesses than on real data. If you’d rather disregard the guesswork and minimize your risk, real estate data analytics is what you need to have. In this article, we will introduce you to the basics of real estate data analytics and share with you how you can use it to make intelligent investment decisions that will increase your profits.

Defining Real Estate Data Analytics

Real estate data analytics collects, organizes, and analyzes rental real estate market data. This data can grasp trends and patterns to enable you to make informed decisions about your investment property. This analysis is most easily managed by specialized software.

There are various sources of data that you can use for your real estate data analytics. The most regular source is public records, which include information on rental properties sold or listed for rent in the past. Another data source is surveys, which can grant insights into renters’ preferences. Eventually, you can equally employ data from your own rental property to track trends over time.

As you collect your data, it is critical to organize it in a way that makes it simple to analyze. One way to fulfill this is to form a spreadsheet with all relevant data points. This will allow you to immediately sort and filter the data to find the information you are wanting for.

Types of Real Estate Data Analytics

When you have acquired your data, you will need to analyze it to extract useful information. There are a few different classifications of analyses that are normally put to use in real estate data analytics:

  • Descriptive analytics: This analysis summarizes and describes your data. It can help ascertain trends and patterns in the rental market.
  • Inferential analytics: This variation of analysis goes one step further than descriptive analytics by making predictions bearing on the data. For instance, inferential analytics can be applied to predict how changes in the rental market will hit your property’s value.
  • Predictive analytics: This type of analysis effectively uses historical data to predict future events. Predictive analytics can predict demand for rental properties in a few other areas or figure out how changes in the market will alter your business.
  • Prescriptive analytics: This kind of analysis combines predictive and inferential analytics to make predictions and recommend steps that should be taken to acquire specific goals. For instance, prescriptive analytics can prescribe pricing strategies for your rental property based on market trends.

Benefits of Real Estate Data Analytics for Property Owners

Now that you get the idea of the basics of real estate data analytics let’s look over how you can benefit from it to successfully improve your rental business. Here are a few approaches where you can apply data analytics to make better decisions with your single-family rental property:

  • Distinguish trends in the rental market: By investigating data on rental prices and vacancy rates, you can know trends in the market. These details can support you to adjust your prices to maximize profits.
  • Make informed investment decisions: By having and using data analytics to research neighborhoods and compare properties, you can make informed decisions concerning where to invest your money.
  • Reduce risk: By using data analytics to study the risks closely involved in different properties, you can minimize your exposure to potential losses.
  • Sharply improve marketing efforts: By analyzing data on the preferences of renters, you can better target your marketing efforts and discover more qualified leads.
  • Improve profits: By making use of data analytics to make informed decisions as regards pricing, marketing, and investments, you can raise your profits.

Real estate data analytics is a great and useful tool that can be taken advantage of to strengthen your rental business. To top it off, by looking over your data, you can find areas that need improvement and make adjustments to increase your rental income. Eventually, by taking advantage of data from surveys and public records, you can procure profitable ideas about renters’ preferences and change your property to interest them. A professional Mamaroneck property manager will have access to all the information we’ve gone over as of now, and on top of that, the relevant expertise to assess and use the data to your benefit.

If you’re not still applying real estate data analytics to inform your decisions about your rental property, now is the time to begin this process. Take advantage of this helpful and powerful tool to set up your rental investment business for success.


Real Property Management DePenn routinely gathers real estate data and makes assessments to provide our clients with the best advice available. If you’re considering joining the property investors who trust us with their portfolio, contact us online or call us at 866-820-9913.

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