Automatically determining market rental rate index for properties
First Claim
1. A computer-readable medium that is not a transitory, propagating signal per se storing a program to cause a computing system having a processor to perform a method for estimating a rental rate for homes in a named geographic area, the method comprising:
- for each particular home of substantially all of the homes in the named geographic area;
accessing a data structure containing values of home attributes of homes recently listed for rental in the named geographic area and associated listing prices;
accessing values of home attributes of the particular home;
with the processor, determining a current market rental rate for the particular home by applying a model comprising at least one tree, the model created in part by;
selecting a set of housing listings;
generating the at least one tree with a root node representing a full range from the set of housing listings of each of multiple attributes; and
adding multiple nodes to the tree by iteratively creating two or more child nodes of an existing tree node, wherein each child node of the existing tree node represents an attribute subrange of an attribute range of the existing tree node, wherein applying the model comprises;
automatically comparing values of the home attributes of the particular home to values of the home attributes of homes with a recorded listing for rental in the named geographic area that correspond to nodes in the model, to identify a particular node corresponding to a subset of the homes with a recorded listing for rental in the named geographic area; and
selecting a current market rental rate for the particular home from at least one recorded rental listing price associated with the identified node; and
attributing the selected current market rental rate to the particular home;
filtering homes in the named geographic area according to a first set of filtering criteria to create a filtered set of homes;
with the processor, applying an aggregation function to the attributed current market rental rates of the homes in the filtered set of homes to obtain an aggregation result; and
causing to be displayed a characterization of the current market rental rate of homes in the filtered set of homes that is based on the aggregation result.
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Accused Products
Abstract
A facility for determining a market rental rate index for homes located in a distinguished geographic area is described. The facility accesses a current market rental rate attributed to substantially every home in the named geographic area based on automatically comparing the attributes of each home to attributes of homes recently listed for rental in the named geographic area. The facility then applies an aggregation function to the accessed current market rental rates to obtain an aggregation result. The facility causes to be displayed a characterization of the current market rental rate of homes in the named geographic area that is based on the aggregation result.
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Citations
19 Claims
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1. A computer-readable medium that is not a transitory, propagating signal per se storing a program to cause a computing system having a processor to perform a method for estimating a rental rate for homes in a named geographic area, the method comprising:
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for each particular home of substantially all of the homes in the named geographic area; accessing a data structure containing values of home attributes of homes recently listed for rental in the named geographic area and associated listing prices; accessing values of home attributes of the particular home; with the processor, determining a current market rental rate for the particular home by applying a model comprising at least one tree, the model created in part by; selecting a set of housing listings; generating the at least one tree with a root node representing a full range from the set of housing listings of each of multiple attributes; and adding multiple nodes to the tree by iteratively creating two or more child nodes of an existing tree node, wherein each child node of the existing tree node represents an attribute subrange of an attribute range of the existing tree node, wherein applying the model comprises; automatically comparing values of the home attributes of the particular home to values of the home attributes of homes with a recorded listing for rental in the named geographic area that correspond to nodes in the model, to identify a particular node corresponding to a subset of the homes with a recorded listing for rental in the named geographic area; and selecting a current market rental rate for the particular home from at least one recorded rental listing price associated with the identified node; and attributing the selected current market rental rate to the particular home; filtering homes in the named geographic area according to a first set of filtering criteria to create a filtered set of homes; with the processor, applying an aggregation function to the attributed current market rental rates of the homes in the filtered set of homes to obtain an aggregation result; and causing to be displayed a characterization of the current market rental rate of homes in the filtered set of homes that is based on the aggregation result. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A computing system comprising one or more processors and a computer-readable medium that is not a transitory, propagating signal per se storing a program that, when executed by the one or more processors, causes the computing system to perform a method comprising:
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with the processor, training a first model, that predicts market rental rates for houses in the named geographic area, at least in part by; selecting a set of housing listings; generating the at least one tree with a root node representing a full range from the set of housing listings of each of multiple attributes; and adding multiple nodes to the tree by iteratively creating two or more child nodes of an existing tree node, wherein each child node of the existing tree node represents an attribute subrange of an attribute range of the existing tree node; for each particular home of substantially all of the homes in the named geographic area, applying the first model to the particular home'"'"'s attributes to obtain a rental rate of the particular home by; identifying one or more nodes in the first model corresponding to values of the home attributes of the particular home; and selecting a rental rate of the particular home using at least one rental listing price associated with the identified one or more nodes; filtering homes in the named geographic area according to a first set of filtering criteria to create a first filtered set of homes in the named geographic area; and applying an aggregation function to the obtained rental rates of the first filtered set of homes in the named geographic area to obtain a first overall rental rate of the first filtered set of homes in the named geographic area. - View Dependent Claims (8, 9, 10, 11)
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12. A method in a computer system having a processor for estimating a rental rate for homes in a named geographic area, the method comprising:
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for each particular home of substantially all of the homes in the named geographic area; accessing a data structure containing values of home attributes of homes recently listed for rental in the named geographic area and associated listing prices; accessing values of home attributes of the particular home; with the processor, determining a current market rental rate for the particular home by applying a model comprising at least one tree, the model created in part by; selecting a set of housing listings; generating the at least one tree with a root node representing a full range from the set of housing listings of each of multiple attributes; and adding multiple nodes to the tree by iteratively creating two or more child nodes of an existing tree node, wherein each child node of the existing tree node represents an attribute subrange of an attribute range of the existing tree node, wherein applying the model comprises; automatically comparing values of the home attributes of the particular home to values of the home attributes of homes with a recorded listing for rental in the named geographic area that correspond to nodes in the model, to identify a particular node corresponding to a subset of the homes with a recorded listing for rental in the named geographic area; and selecting a current market rental rate for the particular home from at least one recorded rental listing price associated with the identified node; and attributing the selected current market rental rate to the particular home; filtering homes in the named geographic area according to a first set of filtering criteria to create a filtered set of homes; with the processor, applying an aggregation function to the current market rental rates of the homes in the filtered set of homes to obtain an aggregation result; and causing to be displayed a characterization of the current market rental rates of homes in the filtered set of homes that is based on the aggregation result.
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13. A method in a computer system having a processor the method comprising:
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for each particular home of substantially all of the homes in the named geographic area; accessing a data structure containing values of home attributes of homes recently listed for rental in the named geographic area and associated listing prices; accessing values of home attributes of the particular home; determining a current market rental rate for the particular home by applying a particular model, from among a set of multiple available models, wherein the particular model is selected by determining which of the multiple available models has independent variables corresponding to home attributes that most closely match the home attributes of the particular home, wherein applying the particular model comprises; automatically comparing values of the home attributes of the particular home to values of the home attributes of homes that correspond to nodes in the model, to identify a particular node corresponding to a current market rental rate; and attributing the current market rental rate to the particular home; filtering homes in the named geographic area according to a first set of filtering criteria to create a filtered set of homes; with the processor, applying an aggregation function to the attributed current market rental rates of the homes in the filtered set of homes to obtain an aggregation result; and causing to be displayed a characterization of the current market rental rate of homes in the filtered set of homes that is based on the aggregation result. - View Dependent Claims (14, 15, 16)
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17. One or more computer memories that are not a transitory, propagating signal per se, collectively storing, for a named geographic area, a home rental rate display data structure, the data structure comprising:
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contents configured to cause a computing system having a display device to display information including a characterization of a current market rental rate of homes in the named geographic area, wherein the characterization of a current market rental rate of homes in the named geographic area is generated by; for each home of substantially all of the homes in the named geographic area; accessing a data structure containing values of home attributes of homes recently listed for rental in the named geographic area and associated listing prices; accessing values of home attributes of the particular home; determining a current market rental rate for the particular home by applying a particular model, from among a set of multiple available models, wherein the particular model is selected by determining which of the multiple available models has independent variables corresponding to home attributes that most closely match the home attributes of the particular home; and attributing the current market rental rate to the particular home; filtering homes in the named geographic area according to a first set of filtering criteria to create a filtered set of homes; and applying an aggregation function to current market rental rates attributed to each of substantially every home in the named geographic area.
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18. A computer-readable medium that is not a transitory, propagating signal per se storing a program to cause a computing system having a processor to perform a method comprising:
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for each home of substantially all of the homes in the named geographic area; accessing a data structure containing values of home attributes of homes recently listed for rental in the named geographic area and associated listing prices; accessing values of home attributes of the particular home; determining a current market rental rate for the particular home by applying a particular model, from among a set of multiple available models, wherein the particular model is selected by determining which of the multiple available models has independent variables corresponding to home attributes that most closely match the home attributes of the particular home; and attributing the current market rental rate to the particular home; filtering homes in the named geographic area according to a first set of filtering criteria to create a filtered set of homes; with the processor, applying an aggregation function to the attributed current market rental rates of the homes in the filtered set of homes to obtain an aggregation result; and causing to be displayed a characterization of the current market rental rate of homes in the filtered set of homes that is based on the aggregation result. - View Dependent Claims (19)
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Specification