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Process Mixed-Use Rent Rolls with redIQ’s Commercial Units Functionality
redIQ’s Latest Innovation: Commercial Units Functionality for Mixed-Use Rent Rolls
Through years of iteration and expansion based on feedback from the owners, brokers, and lenders who use our platform every day, redIQ has evolved from a simple but robust proforma model to a comprehensive underwriting platform that provides analysis, resources, and support from document intake to final offer.
The multifamily industry isn’t a monolith, and every deal has its quirks. For investors in dense or urban areas, that quirk often takes the shape of mixed-use rent rolls with commercial units. Whether an office condo, a ground-level coffee shop, or a group of units dedicated to hospitality, commercial units can complicate underwriting when an asset’s multifamily units form the main attraction.
For multifamily investors and brokers who evaluate a fair number of mixed-use properties, our online platform now allows users to easily manage mixed-use rent rolls that include commercial units. Beginning with the initial upload, where units are identified as Residential, Retail, Office, Self-Storage, Industrial, Hotel, or Other, on to the final export, where users can include or exclude those commercial units, this feature brings efficiency, speed, and simplicity to the analysis and underwriting of mixed-use properties. The days of creative workarounds and time-intensive manual inputs are officially over.
With this ability, any investor, broker, or lender working with mixed-use multifamily properties can underwrite more quickly and with greater accuracy.