PriceHubble, the fast-growing B2B PropTech business operating in nine countries in Europe and in Japan, has announced a partnership with WealthPark, the leading provider of digital solutions for property management companies and apps for real estate owners. PriceHubble will supply AI-powered rent valuation and reporting technology for integration into WealthPark Business, an app for real estate owners and property management companies.
For real estate managers, setting the right level of rent is critical for maximising real estate yields. Objective valuations incorporating data on competing properties, market trends and property features ensure that rents are optimised to minimise vacancy periods and maximise yields.
However, gathering the data required to make an accurate assessment and determine the optimal rent for properties under management or for new properties can be highly labour-intensive and time-consuming. In addition, the results may vary significantly depending on the experience and expertise of the staff involved. Lack of a common decision-making framework at the management company or the inability to back up calculations with detailed explanations and evidence can further hamper the process.
AI-powered rent valuation and reporting function
This function enables real estate companies that use WealthPark Business to display objective rent valuations for managed properties and for new properties on their management screen, and to create reports incorporating this information.
In addition to calculating rents, based on big data and cutting-edge AI technology, the system also checks neighbouring properties, including vast amounts of historic data, and determines the optimal rent for the owner, taking into account competing properties and the local market. A valuation report incorporating the proposed rent and data on selected similar properties is created automatically and can be sent to the owner’s WealthPark app.
This functionality is made possible by integrating PriceHubble’s AI real estate valuation and property search functions into WealthPark’s API. In this way, the functions can be flexibly incorporated into a partner’s proprietary website, apps or internal systems.
PriceHubble is committed to contributing to the promotion of real estate DX in Japan by collaborating with app and system providers, real estate companies and financial institutions.