Rely on redIQ Beyond Closing: BNOI Support & Proforma vs. Actual Functionality

Rely on redIQ Beyond the Acquisition

Below NOI Support & Proforma vs. Actual Functionality

redIQ already sets the industry standard for multifamily underwriting software, supporting our users from when they receive deal documents through when they make an offer. Our latest updates, support for “Below Net Operating Income” line items (“BNOI”) and Proforma vs. Actuals functionality (“PvsA”) make our service more effective and deliver enhanced capabilities, allowing users to rely on redIQ beyond the acquisition process.

About BNOI

Multifamily professionals often deal with unexpected and variable costs. These include non-recurring capital expenses, debt service, and other non-operating expenses. By introducing support for these line items, clients can calculate and validate against Net Income. With support for BNOI line items, users can better project cash flow and account for non-operational expenses. This expanded mapping ability and the gains in accuracy give users a comprehensive and precise look at a property’s finances and value.

About PvsA

With PvsA, users can compare Operating Statements uploaded to the system against proforma financial reports, letting users better understand how a given property has performed against those proformas. Users can upload up to three proformas for every deal, such as the original underwriting, an annual budget, or any other scenario to compare to actual operations. This functionality allows our clients to more closely monitor their deals and take corrective action when the actual performance of a property diverges from proforma plans.

Lifecycle Management Suite & Next Steps

These releases are available today as a free beta for dataIQ subscribers. This beta comes ahead of redIQ’s release of a standalone add-on, the Lifecycle Management Suite (“LMS”), focused on tracking the health and performance of multifamily properties. BNOI and PvsA will eventually be available only to LMS subscribers, but to provide immediate value, redIQ has decided to make these features temporarily available to all users.

redIQ users can learn more about BNOI here, and PvsA here. Stay tuned for announcements as redIQ develops more features to support the entire deal cycle. If you’re not yet using redIQ, request a demo below.

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About redIQ

For over ten years, redIQ has provided a comprehensive and dependable underwriting service for multifamily acquisition teams, brokers, and lenders focused on mid and large-size assets. redIQ’s solutions lead the industry and support the full underwriting process, from standardizing financial documents to producing a final valuation. With our system, analysis takes less time and decision makers can move forward with greater confidence. redIQ users can close more deals, produce better returns, and spend less time worrying about downside. 

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