It doesn’t matter what type of commercial real estate professional or company you are—property owner data is likely crucial to your success, but isn’t always easy to come by.
For brokers, lenders, solar installers, investors, contractors, small groups, and large corporations alike, the best resource for ownership information is having access to a commercial property owners database.
The benefits of this resource will fall by the wayside, however, if you’re not using one that fits your needs precisely. In knowing that, we’re going to look at the must-ask questions that all commercial real estate professionals and companies need to consider when choosing a commercial property owners database.
Commercial Property Owners Database
A commercial property owners database, simply put, is a database that houses commercial property ownership information.
For you, the best database is going to be one that has in-depth, up-to-date, accurate ownership information on all of your most desirable properties.
With up-to-date, accurate ownership information, you can find the people attached to your target properties in real-time. With their contact information, you can easily reach out to them with a targeted message. This information in bulk saves you a great deal of time and effort and lets you pitch to prospects in ways that are more convenient and enjoyable for both parties.
To find the right property owner database, you must do the proper research to determine whether you’re getting the information you need, and whether that information can be accessed in ways that fit your workflow preferences.
Choosing a Commercial Property Owners Database
Choosing the right commercial property owners database is a matter of asking yourself the right questions. Without knowing what questions to ask, however, you’ll never find yourself with the newest, most in-depth, powerful resources possible.
Below, see eight questions you should always ask to assure that you choose the most powerful database of commercial property owners. Following, we’ll break down each question with a bit more depth, and discuss why Reonomy could be the answer you’re looking for.
Eight Questions to Ask Yourself When Choosing a Commercial Property Owners Database:
- What geographic coverage do I need? →
- What asset class(es) does this database cover? →
- Does the database include owner contact information? →
- Does it include information on both LLCs and property-owning people? →
- How do I access the database? →
- Is the database searchable? →
- Can I export information from the database? →
- Does it integrate well with my existing systems? →
What geographic coverage do I need?
Do you want to access commercial ownership information across an entire state? Across an entire city? Within a single county? Sources can vary for each.
There are public records websites that allow you to search with different levels of geographic granularity. They’re often tied to a single location, which could be a state, city, county, or district.
To find a public source of property owner information, you can Google your geographic focus, whatever level that may be (state, city, or county), followed by “property ownership records.”
You may also want to consider using Reonomy, as it provides ownership data on commercial properties in every market in the nation, no matter how broad or granular. From the entire country, to an exact address, and everything in between, Reonomy can provide you with up-to-date commercial property owner information.
What asset class(es) does this database cover?
There are two parts to this one.
First, it’s crucial to find a database that contains ownership information on your target asset type(s). Secondly, you should find out what the extent and depth of that coverage is. Meaning, if the database covers owners of multifamily properties, does it specifically cover apartment buildings, duplexes, mobile home park, and other types of multifamily property owners?
Reonomy gives you access to ownership information on general commercial, industrial, multifamily, vacant land, office buildings, mixed-use properties, retail, special purpose commercial, and more, along with many specific classifications of each of those asset types.
Does the database include owner contact information?
This could very well be the most important question to ask yourself, because, if the answer is “yes,” it presents incredible value to you and your business.
In 2018, it is very possible to find a commercial property owners database that also includes contact information. Instead of relying on multiple sources, you can simply find one that provides you with both.
In most cases, public records will only have a very small bit of owner contact information, if anything. You’ll likely have to use a separate tool to find their contact information.
On the other hand, Reonomy gives you access to ownership details on a property, allowing you to then click through and get full contact information for that owner, including their associated phone numbers, email, and mailing addresses.
Does it include information on both LLCs and property-owning people?
By nature, LLCs make it more difficult for property owner databases to provide information on real property owners.
Make sure to look into whether or not your database of interest has information on owning LLCs, but also that it has information specific to the individual people behind those LLCs.
Being able to see the LLCs that own a property, along with the people associated with them, can give you a full understanding of property ownership on multiple levels.
Public records databases will typically only include the reported owning entity of a commercial property, or the owning individual.
Reonomy gives you access to the reported owner of a property (whether it is an LLC or person), but also lets you drill into an owning LLC to see the individuals associated with it, along with their contact information.
With Reonomy, you can also see the ownership “tree” of a property, from the highest-level member of an LLC, all the way through to any other person that may have even a distant connection to that LLC.
How do I access the database?
Ask yourself how the ownership database can be accessed. Consider your own time and preference as a user.
Can you tap into the database directly online, for example? Do you need a monthly subscription? Can you automate certain uses of the database?
Reonomy gives you a few different options in terms of accessing data. From a user-friendly web platform, to direct data feeds, you can tap directly into an incredibly in-depth pool of commercial property owner data.
Is the database searchable?
When choosing a property owner database, be sure to find out whether or not you can search through that database, prior to extracting any information.
Can the database be filtered and searched to make it easier and more effective for you when searching for certain owners? Does the data search process simply require you to drop information into an Excel spreadsheet and search yourself?
Using Reonomy’s search platform, you can search any market in the nation with a bevy of property, building-level, transaction, debt history, and owner-related filters. Through a user-friendly interface, you can tap directly into Reonomy’s vast database of property owners.
To run a property owner search, visit Reonomy’s search platform, click into the Ownership tab, and search by an owner’s name or mailing address.
Can I export information from the database?
To ensure that you’re getting the utmost level of convenience out of your owner database, check into whether or not you can export data from it to use separately on your own.
Exporting data allows you to customize the way you access ownership data, letting you organize it as you please.
Being able to export and integrate ownership data simply prevents you from being strapped down by the functionality of an owners database.
When using Reonomy, for example, any list of properties and property owners can be exported from the platform. Exports come in a CSV file, which can then be easily integrated into your CRM or existing database.
Does it integrate well with my existing systems?
A useful owners database loses its value if it’s going to disrupt your existing day-to-day process. Make sure the database you choose is one that you can integrate seamlessly, while also adding depth and breadth to your internal database.
The ability to export is a large part of the integration, but is not the only factor influencing the matter. The ability to automate data pulls and run data reports also allows for seamless customizability and integration.
Reonomy property owner data can be exported (as mentioned above), directly fed to your internal database, or sent in custom data reports on a consistent basis.
In the end, asking yourself these questions will, at the very least, better inform you as to what commercial property owner data sources are available. And while a mix of sources may still be your best option at times, Reonomy database of property owners is more up-to-date, in-depth, and wide-spanning than any other on the market.