Insight Service Solutions developed a new rental valuation product for investors and servicers looking to get a grasp on all the moving parts for real estate owned property.
The product was created after the company saw a need for more accurate information and valuations for either rental or sale properties.
“I had a number of discussions with clients (primarily servicers and investors) and the overwhelming theme was identical — with the constant focus on the rental market, my clients needed to ensure they had the most accurate rental related information from which to make informed investment or loss-mitigation decisions,” said James Zeldin, product developer at INSS.
To accomplish this goal, the product uses the services of its subsidiaries, including Mark to Market, Default Resource and MSI Hazard Claims to help clients understand “where the value is in their property.” INSS hopes to allow investors to determine if it's a better time to rent or sell a given property based on numerous deciding factors.
For example, the service offers such things as projected internal rate of return and net present value based on property specific information. Furthermore, the product can be modified to provide customized market data for specific clients.
INSS can also put together rental and value reconciliation, completed by a licensed appraiser and even a marketing plan with recommendations (See chart below).
Zeldin said the vast amount of information available to INSS through its multiple companies offers an “unparalleled” product that avoids the “regurgitation of information without the proper level of quality control” which he said is common in other valuations.
“There isn’t another company out there at this point that has been able to successfully overlay that business model into a single source and then create this dynamic product that brings all of those things together,” he said.