Spherexx's new CoPilot makes property rent recommendations more transparent

CoPilot explains its recommendations

According to Spherexx, CoPilot is a new capability of Optimize, its neural-driven revenue management platform for multifamily properties. The feature is designed to give revenue managers more detailed insight into why the system recommends a specific rent.

The explanations are based on the property's settings, operational controls and demand. This allows users to examine potential changes while retaining human oversight, decision-making authority and responsibility for their decisions. Spherexx describes this as a so-called glass-box approach, designed to make the platform's operation and decision logic easier to follow.

Potential changes can be assessed through simulation

Optimize's layered simulator allows revenue managers to model the expected impact of changes before implementing them. For each unit type, they can retain the currently published price, accept Optimize's recommendation or select a price used at an earlier point in time.

Based on publicly available data from comparable properties, the system also simulates the impact of concessions. This can show how a recurring or one-time discount actually changes the pricing of a new lease.

CoPilot brings the information needed for decision-making together in a central workspace. Users can review rents available by status, current prices, recommendations, explanations for changes and the history of previous decisions. They can make changes directly in the workflow, supported by task-specific instructional videos.

It also forecasts future performance

Through integrations with property management systems, Optimize continuously uses the customer's property data. The platform also displays the property's known upcoming performance, based on factors including scheduled lease expirations, notices to vacate and future rental data.

According to the announcement, Optimize uses historical performance and this data to forecast future occupancy, expected renewals and potential new move-ins. The forecast extends three months beyond the longest lease term offered. With a maximum lease term of twelve months, this represents a fifteen-month time horizon.

Market position can be assessed using public data from comparable properties, based on rents, vacancy, concessions and leasing velocity. The data can be viewed for daily, weekly or custom periods.

Extended controls for specialized unit types

CoPilot extends the available control options to floor plans and units providing affordable housing and subject to rent restrictions. According to the announcement, users can control additional parameters, such as fixed maximums, lease terms and other applicable operating conditions.

Spherexx says Optimize can also be used for lease-up projects involving units that are still under construction and have no data yet. According to the company, the neural network has identified occupancy growth patterns from lease-up data and certificates of occupancy since 2013. Becca Wilson, owner and chief executive of Spherexx, said CoPilot enables revenue managers to see what Optimize recommends, why it makes the recommendation and the potential impact of their decisions.

According to the announcement, CoPilot combines predictive intelligence, adaptive controls and strategic oversight in a single decision-making environment. This gives users more detailed control over evaluating recommendations and approving changes.