How Public Multifamily Market Data Keeps You Compliant and Competitive

Whether you’re a leasing agent or a multifamily executive, accurate market data is essential for smart decision-making. While many have previously relied on private sources to inform decision-making, using this type of multifamily data could expose your business to legal risks, especially if it’s delivered alongside recommended actions to take.

Additionally, pulling information manually from public sources like internal listing services (ILS) can be a time-consuming task. Worse, this practice can lead to outdated, incomplete, or error-prone insights.

So, what options exist for businesses looking to automate and simplify the process of collecting multifamily market data in a fair and accurate way? Plenty of providers like MRI ApartmentData still take the research burden off your team by providing public data gathered directly from property websites, giving you access to all the information you need with no algorithmic price settings or recommendations. This approach delivers reliable, up-to-date insights while keeping your business compliant.

The Risks of Using Private Multifamily Data

Legal Concerns

Recent legal cases have changed the thinking around market research tools. While much of the controversy has revolved around price recommendation features, the entire debate has added a layer of risk when it comes to making decisions based on  private data, with or without pricing recommendation tools. Recent federal actions are sending a clear message—rental pricing tools must be transparent, ethical, and compliant. This includes:

• Banning anticompetitive algorithms
• Prohibiting the exchange of sensitive competitor data 
• Regulating how non-public information is gathered and used 

As regulations tighten and these conversations continue to develop, property managers must take a close look at any of their current or prospective market research tools to ensure they comply with state, federal, and all other applicable regulations and guidelines.

Reputation Damage

Not all publicity is good publicity. Seeing the name of your business or community in the news is generally something to be avoided, especially in the digital age when old news stories can stay in popular search results for months on end.

As many have seen over the past few years, using sensitive, private data for market research and rental pricing can lead to unwanted liability issues, market disruptions, and loss of trust. In real estate, reputation is everything—one misstep can have lasting consequences.

Why Public Data Is the Smarter Choice

Utilizing public data has far more advantages than simply being the “less risky” option for market analysis and research. Public data is often a more accurate assessor of market trends. This is because it tends to include information from a wide swath of sources as opposed to a subset of entities willing to hand out their private data. Public data also includes all the metrics essential to planning and strategy like rent prices, availability, occupancy, and concessions.

More Benefits of Public Data

1. Transparency

Public data is open to everyone, which means everyone sees the same data and is thus on a level playing field. Private data, by contrast, is often proprietary and may reflect the interests of its collectors.

2. Real-Time Insights

Public data updates regularly, giving you a live view of pricing, availability, and concessions. Private data is often static and outdated, making it harder to respond to market changes.

3. Broader Market Coverage

Public data scans thousands of property websites, offering a complete market view. Private sources are limited and may miss key competitors.

4. Ethical Practices

Using public data supports fair and transparent business practices. It’s a safer, more responsible approach that builds trust with renters and stakeholders.

Better sources, better data

Legal challenges across the apartment industry have called out several specific providers, not just for providing private data, but also for making price recommendations. Forgoing the use of private data doesn’t mean you now have to start combing through websites on your own to find information. There are still a number of technology providers who service multifamily businesses by gathering and reporting public data.

MRI ApartmentData provides multifamily market reports pulled directly from property websites—where listings are kept current to attract renters — and makes no recommendations on how it is to be used. This ensures accuracy down to the unit level. In contrast, ILS providers often scrape outdated listings from third-party sites, potentially leading to unreliable data. With MRI ApartmentData, you can confidently operate with a solution that delivers:

• No anticompetitive pricing algorithms
• No sensitive competitor data sharing 
• No access to property management systems 
• Insights you can trust—fully compliant from day one 

Foreseeing and Overcoming Challenges with MRI ApartmentData

Switching from private to public data for multifamily market research purposes, however, will not be entirely seamless and may mean adopting different tools and workflows. MRI ApartmentData is designed to help multifamily teams make the transition smoothly.

Unified Access

Public data comes from many sources, which can be overwhelming. MRI ApartmentData consolidates everything into one platform, saving time and effort for your team.

High-Quality Data

Not all public data is equal. MRI ApartmentData pulls only from property websites, ensuring accuracy and reliability.

Easy Interpretation

Raw data can be hard to understand. MRI ApartmentData offers dashboards and visual tools that make insights clear and actionable for everyone on your team.

User-Friendly Technology

New platforms can be intimidating. MRI ApartmentData’s intuitive interface, onboarding support, and dedicated success managers make adoption easy from day one.

With rising legal risks and unreliable ILS data, multifamily businesses need a safer, smarter way to gather market insights. Technology should empower your business without compromising ethics or compliance. Solutions that use public data, like MRI ApartmentData, give you the tools to make informed pricing decisions on your own, stay ahead of evolving regulations, and build trust with residents and stakeholders. Contact us today to learn more.