A Lap Around Version 2.0 - Part 2Designed for Decision Making
When it comes to the actual property details, one of the problems we discovered in the old design looked too much like other listing sites like LoopNet. People didn't understand that we were different, because we didn't look different.
So for Version 2, we decided to put the focus on the reason you're here: to help you make a decision. We surface the information important to an investor, like Cap Rate and GRM, right on the front page. The other details about the building are still there, we just moved them to the "Details" tab.
Speaking of moved tabs, we also reorganized the top-level tabs on the Property view. When an investor gets a listing in the mail, usually the first response back to the broker is "Please send me the financials." So we changed "Reports" to "Financials", and moved them to the second top-level tab. After you've seen the financials, you may want to dig into the source data, which is in the "Ledgers" tab.
Context is King
Most market research services generate PDF reports that you have to dig through to find the context you are looking for. It's about the same as throwing a ream of paper at you while yelling "Don't you feel smarter?!?!!!"
So we decided to take advantage of the extra space available in the Ledgers, and turn it into a window to provide context on what you're looking at. Our first incarnation (and we have many planned) brings in Market Rent analysis on the page where you are setting the Market Rents for the model. Seems like common sense, right?
With live data from the last 60 days at your fingertips, you won't have to worry about someone sending you a cash flow where the market rents are too high, because you'll have the truth right in front of you. And don't worry, we're already working on pulling in other interesting data sources to help you with the rest of the model.
New Mapping Capabilities
Market research shouldn't just be limited to rents. As an investor, you're buying a functioning business. You wouldn't open a Taco Bell in a neighborhood with 4 authentic Mexican restaurants, would you?
So this release has three new mapping features: Demographics, Competitive Analysis, and What's Nearby.
Demographics lets you see all kinds of census data on the people and housing in the area.
Competitive Analysis pulls up all of the listings for every rental in the last 60 days, and lets you see where they are, explore floor plans and rents, etc.
What's Nearby attempts to give you insight into the surrounding businesses, so you can see what type of neighborhood the property is in. Are there a lot of strip clubs, tattoo parlors, or check-cashing facilities in the area? What about grocery stores, schools, and government services?
This is just the beginning of our mapping capabilities, and we have even more features planned for the months ahead.
Better Lease Dates
One of the more clumsier pieces of UI in Version 1 was managing lease dates. It let you either type them in, or pick them from a calendar popup. Either way was kind of a hassle.
In this release, we have a new "Month Picker" control that I'm pretty proud of. It consists of two columns of up/down "spinners". The one in the middle controls changing the month, the one on the end changes the year. Together, they make changing dates far more intuitive. Just a couple of clicks and you're done. And, you can still type in the dates or use the calendar popup, which is now on the left, if you so desire.
Under the Hood
None of our new features would be possible without the massive work that was done to overhaul the way the app is built. We've made out design much more robust at every layer, and we can independently scale each part of the solution based on performance. We're using new techniques that make our code more robust and predictable, and the website is a lot more modular, meaning we can roll out new features more quickly than we could before.
Try it Free - We Want Your Feedback!
Now that you've seen what's new, try it for yourself. We'd love to know what you think we can do better.