HomeRun IQ | STEX

Active dates: 

January 20, 2023 - January 20, 2023

STEX25

STEX25 Participation:

January 20, 2023 - June 30, 2024

Company information

Elevator Pitch

HomeRun IQ empowers properties to save money through the digital management of capital expenses. We help properties address escalating costs, and regulatory changes. Our mission is to transform the market and set a new standard in capital expense management.

Description

Multi-unit properties (condos, associations, multi-family rentals) lack the tools to tackle their annual long-term costs and operational budgets. With an average property age of 40+ years the problem is accelerating especially as capital spend is growing 14% annually. Yet owners, operators and service providers try to largely manage the process with paper, Excel, and out of date information. The process wastes significant staff time and misses $60B annually in costs. Underwriters relying on this data are significantly raising premiums to manage risk. This is further complicated by growing regulations and new agency guidelines adding complexity.

Technology Description

HomeRun IQ’s solution integrates the current piecemeal process into a single, dynamic platform, providing users with complete, up-to-date information at their fingertips. This enables more informed decision-making and effective tracking of capital budgets, ultimately realizing the return on investment (ROI) of the capital budget. Additionally, the collected data is critical for underwriters, asset managers, and owners, leading to further opportunities in underwriting and risk management.