REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
Altisource | December 07, 2022
Altisource, an integrated service provider and marketplace for the real estate and mortgage industries, has launched NestRange as a cost-effective, data-informed Automated Valuation Model that estimates the value of residential properties. This SaaS product leverages a national property database, geospatial comparable data, machine learning and AI to help real estate professionals, investors and financial institutions make decisions with confidence.
The NestRange AVM is a fully interactive tool that estimates the value of single-family homes, condominiums, townhomes, and multifamily/apartments. The service draws from a robust data set of more than 150 million properties including over 750,000 active property listings. NestRange users have control over a variety of parameters including valuation input variables, property conditions, and the ability to select specific comparables used in the AVM calculation.
The platform’s features don’t stop there – NestRange AVM reports include the NestRange Confidence Score, historical trends, detailed local market analysis and the ability to process AVMs in bulk. The NestRange Valuation API provides online integration and the ability to tap into the vast data and analytics within NestRange. Explore comparables, market information, trends, and more within your own environment.
“NestRange offers essential tools to real estate professionals looking for AVMs they can trust – including the ability to get better insights into both distressed and non-distressed property valuations, We’re proud to have created a SaaS product that is so uniquely customizable.”
-Israel Meir, Chief Strategy and Technology Officer
The NestRange property AVM platform complements Altisource’s industry leading RentRange rental AVM service that has been providing rental data to investors and financial institutions for over a decade.
Interested parties can visit NestRange.com to create customized property valuation reports now or to request a personalized demo.
About NestRange
NestRange is an Interactive AVM Solution for the Real Estate & Financial Industries. NestRange provides an automated valuation model that estimates the value of single-family homes, condominiums, townhomes and multifamily apartments. NestRange is the latest addition to the Altisource suite of appraisal and valuation products and services.
About Altisource
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve.
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REAL ESTATE TECHNOLOGY,INVESTMENTS
MRI Software | December 29, 2022
Marlette Holdings, Inc., one of the leading financial technology companies that operate the Best Egg platform, recently announced a partnership with MRI Software, a global leader in real estate solutions.
The Best Egg Flexible Rent platform allows tenants to customize their monthly rental payments by dividing the total amount into several smaller, more manageable installments that can be paid at any time during the month.
Due to the integration of this technology within MRI's RentPayment service, residents can now choose Flexible Rent as a payment option without leaving the MRI portal. In addition, millions of renters are managed nationwide by the open and linked software created by MRI, which is used by thousands of multifamily property managers.
Best Egg is committed to giving its clients the resources they need to manage their daily finances while fostering financial confidence. Therefore, the company is happy to collaborate with MRI to give payment flexibility to the renters who use its software. The company's new Flexible Rent platform is a natural extension of that aim. Flexible Rent gives tenants more control over how and when they pay bills and guarantees timely and full rent payments to property managers.
As part of the Partner Connect program, MRI Software is pleased to welcome the Best Egg Flexible Rent platform since it believes the combined technology will provide tenants greater freedom to manage their rent responsibilities while lessening the administrative burden on property managers. Flexible Rent will be offered to multifamily property managers and tenants via MRI RentPayment beginning in the first quarter of 2023 and will be rolled out to additional properties over time.
About MRI Software
MRI Software transforms how communities live, work, and play. Its flexible, open, and connected platform empowers commercial and residential property owners, operators, and occupiers to innovate in changing markets. MRI has been a PropTech pioneer for over 50 years, serving over 2 million consumers. MRI's leading technologies and partner ecosystem help real estate companies grow and compete.
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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
Lessen | January 17, 2023
Lessen, the leading tech-enabled outsourced property services platform, recently announced the strategic acquisition of facilities maintenance technology leader SMS Assist.
By combining the complementary strengths of both organizations, Lessen will continue to address real estate's pain points, offering its clients a scalable, tech-enabled enterprise solution for residential and commercial services. As a result, the companies will serve around 250,000 residential and commercial properties nationwide, enabling approximately 2.5 million repair and maintenance orders annually, in addition to expanding their property services.
The transaction is completed with stock and cash, with Lessen raising roughly $500 million in combined new debt and equity. SMS Assist stockholders exchanged a portion of SMS stock for Lessen stock, resulting in a combined company valuation of over $2 billion. Debt and equity investors, including Värde Partners, Monroe Capital, and Koch Real Estate Investments, assisted with this transaction. Invitation Homes and American Homes 4 Rent are among the clients who invested in the deal with Lessen.
Following the conclusion of the transaction, Lessen's Jay McKee will continue to serve as Chairman of the Board of Directors and CEO of the newly-merged company. He states, "Lessen recognized early on the opportunity to provide an enterprise-level solution that solved the real estate industry's long-tenured property services pain points." He added, "This deal demonstrates the increasing demand within the underpenetrated, $330 billion addressable North American property services market for a unified, extensible delivery platform that provides transparency, efficiency and data-driven insights for the entire real estate ecosystem including investors, owners, managers and service providers.
(Source – Business Wire)
The new, unified technology platform will allow various service providers—from painters, contractors, and plumbers to electricians and more—to work as one on a national scale, which was previously impossible. The quality of this work will be supervised and inspected by Lessen's in-house project managers. This integrated solution will assist owners in overcoming skilled labor shortages while lessening administrative burden, enhancing project efficiency, and providing real-time project updates.
About Lessen
Lessen is the only end-to-end tech-enabled solution for outsourced real estate property services that delivers consistency, quality, and speed at scale, focusing on single-family and multifamily rental renovations, turns, and maintenance. Through automation and real-time analytics, the firm's technology suite is disrupting and modernizing a project management space that is still reliant on traditional organizational and communication models. The company's professional field project managers provide on-the-ground service, utilizing a network of verified service professionals in over 40 markets across the country, all powered by its proprietary technology platform.
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