NEW YORK CITY—ResiModel, a deal management, analytics and valuation platform designed expressly for multifamily transactions, is rolling out significant upgrades to its platform. Introduced in 2013, the platform has already amassed a notable customer base among brokerage firms and investors, who have input more than 1,500 apartment deals into the platform.

The idea is to create a network effect that will enable the platform's user base to grow exponentially. With that in mind, ResiModel's deal-sharing capacities have been enhanced; the company says its clients can now automatically incorporate newly received rent roll and historical operating data directly into their models with the click of a button.

ResiModel's rent roll functionality is now capable of identifying rent trends based on floor plans and renovation status. The new analytics will also enable users to distinguish between rents for market-rate and non-market rate units, for a more sophisticated level of insight. Soon, users will be able to compare rent rolls for the same property to identify rent increases for renewals and new tenants on a floor-plan by floor-plan basis.

The platform's modeling software has been updated to include a new Excel “dashboard” ribbon that shows selected output and return metrics. Enhancements to the interface are intended to streamline underwriting workflow and create a more intuitive navigation experience. Additionally, the model now includes an option that allows users to brand the models they create with their company logos.

“With the continued growth of multifamily investment, there is an increased need for greater sophistication and standardization in property analysis,” says Elliot Vermes, CEO of New York City-based ResiModel. “As ResiModel's client base grows, we're constantly looking for ways to enhance the functionality of the platform. We are constantly reinvesting in our platform so that we can offer continuous enhancements that improve the user experience.”

Already on that client base are deal teams at CBRE, Jones Lang LaSalle, ARA, Colliers International, Marcus & Millichap, Moran & Co. and Cushman & Wakefield. A number of leading investors in the multifamily space, including Carmel Partners and Alliance Residential Co., have also used ResiModel.

Last month, the company introduced a complimentary rent roll data entry service in conjunction with the platform. “One of the biggest challenges deal teams face is the excessive amount of time that is spent converting the data that they receive into a usable format,” Vermes said when the service was announced on Nov. 20. “With this rent roll upload service, ResiModel takes care of this aspect of the underwriting process for our clients, allowing them to focus more of their energies on improving investment decisions.”