How Moda Homes is reimagining Build-to-Rent with AI pricing
Executive Summary
Moda Homes, a fast-growing build-to-rent operator with approximately 3,000 lots, partnered with Beekin to modernize and optimize its pricing strategy. By implementing Beekin’s AI-powered LeaseMax platform, Moda Homes transitioned from judgment-based pricing to a structured, repeatable, and data-driven approach. The result was a 200% increase in operational efficiency, double-digit rent growth, reduced leasing concessions, and tighter pricing controls. LeaseMax’s machine-learning models demonstrated strong performance in emerging rental markets, enabling Moda Homes to price with greater confidence and scale effectively where traditional revenue management methods fall short.
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The Challenge: Unique Portfolio, Limited Comparables
Moda operates in several emerging or highly specific submarkets. Their homes are amenity rich, offering a
variety of tenure options to resident as well as a guarantee of price and quality. However, in these markets,
traditional rent comparables are sparse or unreliable. This created three major obstacles:
1. Sparse and Unreliable Comparables
Many Moda communities have no direct like-for-like properties nearby. To compensate, the team relied on
data from the following sources
● Zillow and other public listing platforms
● Manual comparable searches
● Intuition from leasing homes in similar markets
“We went to Zillow and other public data sources, but it was very cumbersome to do on a regular basis. It was limited, time-consuming, and frankly not very accurate."
2. Pricing Uncertainty and Revenue Risk
Without reliable data, pricing decisions often relied on gut feel, loss leaders, and reactive adjustments. This
increased the risk of:
● Price congruence between similar homes with similar layouts or floorplans
● Longer time-to-lease, absorption challenges and vacancy loss
● Unnecessary concessions
3. A Manual, Unstructured Process
Pricing reviews were historically informal and time-consuming, lacking:
● Consistent methodology
● Standardized governance
● A repeatable workflow with automation
The Solution: LeaseMax + Moda’s Pricing Workflow
AI-Powered Pricing in Data-Sparse Markets
LeaseMax is Beekin’s AI-driven pricing platform that does not depend on large pools of local comparables
to generate recommendations. Instead, it:
● Learns from market signals, leasing velocity, move-ins/move-outs, seasonality, and economic
trends, even where direct comparables are limited.
● Adapts to each community’s unique characteristics, rather than forcing a one-size-fits-all model.
● Provides frequent, dynamic recommendations that Moda can review weekly across the portfolio.
This is especially valuable for Moda, where many communities are in newer or less conventional markets
and would otherwise be difficult to price with traditional tools.
Embedding LeaseMax into Moda’s Weekly Workflow
Kevin and the team integrated LeaseMax directly into their pricing workflow and weekly price review.
"What previously took several hours of manual review now takes about 30 minutes for a weekly pricing session, including discussion."
Implementation & Results
1. Double-Digit Trade-Out Growth Across Key Communities
Following LeaseMax adoption and a more disciplined pricing cadence, Moda saw double-digit new lease
trade-out increases, ranging from approximately 12% to 33% depending on the month, in its focus
communities.
These results were driven by:
● More dynamic pricing based on LeaseMax’s weekly recommendations.
● Reduced concessions, moving away from periods where the team had previously offered up to
two months of free rent.
● Pricing consistency around floor plans, lease-terms and move-in dates
● Stricter lease review processes, especially detailed review by Taylor Farrey, Moda Home’s
Property Manager, of renewals and new leases.
"I think we actually reduced or limited our specials. For a long period of time, we were doing a two-month free rent... Taylor, our property and sales manager has caught quite a few issues where I think we were giving away some money accidentally."
Download the study to see all the results.
Enhancing Value: AI Rent Values (Ebby) for BTR Development
Alongside LeaseMax, Moda has begun using Ebby, Beekin’s public data powered AI rent value and
forecasting tool, for investment analysis and development:
● Income-based appraisals of townhome and single family home values using market data.
● Planning use case to understand the appropriate size / configuration to build on undeveloped lots.
"Jimmy (our CFO) got excited about appraisals and seeing the value of our townhomes, looking at it through an income approach and seeing where the rent is in the market... Ebby’s helpful in helping us show what our homes are worth."
Build-to Rent AI Pricing Key Takeaways
● AI-Powered Trade-Out Gains
Moda’s key communities achieved double-digit trade-out increases on new leases after
formalizing a LeaseMax-driven pricing process.
● Concessions Brought Under Control
Moda moved away from aggressive concessions (such as two months free rent) and tightened
revenue leakage through closer review of renewals and new leases.
● Pricing Reviews Reduced from Hours to 30 Minutes
The collective new workflow compressed weekly pricing meetings from several hours to ~30
minutes, making dynamic pricing operationally sustainable.
Download the study to see all key takeaways.
Conclusion
Moda Homes’ experience demonstrates that AI-driven pricing can deliver strong results even in markets where traditional comp-based tools fall short. By integrating LeaseMax into a structured weekly process with clear governance, Moda achieved double-digit trade-out growth, reduced concessions, and captured revenue that had previously been missed. What was once an intuition-led approach became a fast, repeatable, data-backed pricing routine. For developers and operators in emerging or data-sparse markets, Moda’s success highlights that the future of pricing lies in AI and automation—solutions that move beyond comparables and guesswork.