The Power of redIQ


Without a doubt, 2023 was a challenging year for the multifamily industry. However, despite the decline in transaction volume last year, redIQ users evaluated over 92,000 deals! Below, we’ll demonstrate the power of underwriting with redIQ.

2023: By the Numbers

📊 515k Rent Rolls Processed

An impressive 515,000 rent rolls were uploaded and standardized in redIQ, highlighting the power of quickly capturing and analyzing documents.

🔑 300k Engagements

Our community logged in over 300,000 times, showing exceptional engagement. This engagement demonstrates our reliability and the importance of our offerings for real estate professionals.

⏰ 170k Hours Back

Thanks to the efficiencies gained with redIQ, our users saved approximately 170,000 hours, allowing for more time for strategic decision-making and growth.

🚀 100 New Firms

Over 100 companies have joined our platform, expanding our client base to over 700 companies, including some of the largest multifamily investors, brokers, and lenders.

2023: New Releases, More Value

🧠 SmartMap+™

SmartMap+ allows allows multifamily investors, brokers, and lenders to automatically map line items from operating statements to their chart of accounts. Read more about the release here. By automating the mapping, users save time and reduce the probability of human error.

🏠 Single-Family Rentals

In October, redIQ introduced support for single-site, single-family rental (SFR) deals, a first-of-its-kind expansion of the platform’s capabilities to cover a new asset class. Thanks to this release, redIQ users can analyze and underwrite SFR properties the way they would conventional multifamily deals. The update also allows users to categorize their assets as multifamily or single-family rentals. when uploading deals, thus improving the value of features like comp reports. Find more details here

📈 Below the Net Income Support (Beta)

Deal with unexpected and variable costs with our new Below the Net Income (BNOI) Support. Account for costs like non-recurring capital expenses, debt service, and other non-operating expenses.  With support for BNOI line items, users can better account for non-operational expenses for more accurate cash flow projections.

🔍 Proforma vs. Actual Reports (Beta)

Compare your actual performance with your proforma estimates. Now in redIQ, you can store up to three proformas for every deal, such as the original underwriting, an annual budget, or any other scenario. This functionality allows 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

Track an assets’ performance beyond the acquisition. With the free beta release of BNOI support and Proforma vs. Actuals, users can rely on redIQ throughout an asset’s lifecycle. These releases come ahead of redIQ’s introduction of a standalone add-on, the Lifecycle Management Suite (“LMS”). Stay tuned for news about upcoming Lifecycle Management features.

2024…and Beyond

What will redIQ release in 2024? Support for new asset classes? Data sourcing? If you’re already a redIQ user, keep an eye on your inbox for updates. Not a user? Request a demo to see redIQ live today.

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Transform the analysis and underwriting of your multifamily properties.

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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