The RPS Rental AVM delivers a powerful, national and commercial-grade solution
RPS Real Property Solutions Inc., a leading Canadian provider of outsourced real estate solutions including property valuations, business intelligence and mortgage-related services, today announced the launch of a national, commercial-grade and highly sophisticated Rental Automated Valuation Model (Rental AVM). The first-in-Canada solution that leverages machine learning to provide a reliable, instant and cost-effective estimate of the monthly rental income for a residential property that drives expedient underwriting decisions for mortgage lenders, insurers, investors and other real estate professionals.
“RPS has a long history of innovation”, said Spencer Enright, CEO of RPS. “We were the first to use machine learning and big data as applied to an AVM in Canada and are proud to demonstrate our ongoing commitment to sophisticated, powerful and highly useful valuation solutions via the launch of our Rental AVM, another first in Canada.”
In addition to an estimate of rental income, the solution delivers powerful supporting information including market trends, a confidence score and other meaningful data to support users, internal audit teams, regulators and other important stakeholders. The RPS Rental AVM can be provided in real time via an API, a portal or in batch. It can be accompanied by an RPS AVM estimate of market value on the property, and forms part of RPS’ full suite of valuation products that help balance cost, risk, and time.
Yvonne von Jena
Head of Innovation & Marketing