Property assessment platform uses AI to streamline assessments, deliver faster, more accurate information and data insights to buyers, owners and operators
Award-winning proptech software developer Leonardo247 today announced the release of its new Leonardo247 Due Diligence platform, a cloud-based system that uses artificial intelligence to streamline multifamily property assessments and analytics. The platform features new technology that automates data collection, flags missing information and errors, prepares capital budgets and demographic analysis and makes all collected information available for further analysis and reporting.
“The due diligence that goes into acquiring a multifamily property has traditionally been a labor-intensive, error-prone, fire-drill process that requires collecting and analyzing a lot of data from many places in a short period of time,” said Leonardo247 founder and CEO, Daniel Cunningham. “Our new technology platform eliminates most of this by using AI to turn those processes into an automated self-service technology. It provides prospective buyers with comprehensive property data without having to enlist an army of surveyors, sift through multiple documents and constantly create new forms. They can spend their time acting on the inspection data insights instead of micromanaging the data collection process.”
The Leonardo247 Due Diligence platform is an end-to-end solution that digitizes the process, enabling actionable intelligence quickly with more ease and accuracy than with paper unit inspections. The flexibility in adapting inspection forms on the fly not only speeds up the process but also reduces errors in reporting, which can otherwise put timelines and business decisions at risk. Key features of the Leonardo247 Due Diligence platform include:
- Inspections – The unit-by-unit and exterior/common-area inspections feature speeds inspections by replacing paper forms with a mobile app that captures all the necessary information at the inspection site then syncs it with the cloud-based platform. The app also can augment the inspection with additional data, such as photos and attachments, eliminating the need for extracting that information from other systems.
- Rent Roll Analysis – The Leonardo247 Due Diligence platform uses AI-based automation to instantly recognize and read a wide variety of rent roll documents from major property management systems and import and analyze the information on rental units to produce comprehensive “apples-to-apples” reporting on the rent by unit (pet, garage, regular, etc.), legal occupants, and unit size and type.
- Lease File Audit – Lease File Audits identify discrepancies between rent rolls and physical lease files. The Leonardo247 AI audits those lease files and compares them to the rent rolls, quickly flagging the differences so they can be corrected. What is normally a tedious and labor-intensive task, becomes a quick and simple process.
- Reporting and Data Export — The platform not only produces comprehensive and attractive reports, but it also allows you to export the data in a standard spreadsheet format that can be used to manipulate the data, perform deeper analysis, and gain new insights, such as demographic breakouts and potential for rent lift.
“The new Leonardo247 Due Diligence platform dramatically cuts the time and number of people required to do a property audit and analysis, though efficiency and savings are just part of our goal,” Cunningham said. “Ultimately, our platform goes beyond simply providing a comprehensive and reliable snapshot of a property, to being a fundamental data source for smart property operations and performance, like our other Leonardo247 solutions. With this data in-hand, property owners and managers can identify what needs to be done to improve a community’s operations, limit risk, increase tenant satisfaction and boost financial performance.”
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