Rent Comp Intake

Rent Comp Intake

Workflow purpose

Take a raw rent comp observation and move it through the reference layer's update flow so market rent benchmarks stay live. Ingest, validate, normalize, propose, approve (when needed), derive.

Trigger conditions

• Explicit: "I shopped X property; capture comps", "new 3rd-party export", "log comps from call".
• Implicit: workflows/market_rent_refresh detects a comp bundle; PM drops raw data into reference/raw/rent_comp/.
• Recurring: ad hoc; any market-survey cycle.

Inputs (required / optional)

Outputs

Required context

Asset_class, segment, market, submarket.

Process

1. Validation. Every raw record validated against _core/schemas/reference_record.yaml + category schema. Missing fields surfaced.
2. Normalization. Apply overlay rules: concession adjustments, unit-type normalization, effective rent math.
3. Magnitude delta check. Compare proposed normalized value to current benchmark. If delta above overlay threshold, open approval_request per reference update flow before promoting status=approved.
4. Promote to normalized file. Upsert with prior_reference_id linkage; status=proposed if gated or auto approved otherwise.
5. Derived recomputation. Trigger re-derive of any derived/ file that depends on this category.
6. Change log entry. Append to archives/change_log.jsonl with old/new, source, confidence, proposer/approver.
7. Source integrity check. Verify source_type and source_date; sample-tagged sources never promote to approved autonomously.
8. Confidence banner. Record as_of_date and status on the normalized record.

Metrics used

None directly. Feeds metrics that rely on market_rent_benchmark: market_to_lease_gap, loss_to_lease, rent_growth_new_lease.

Reference files used

• reference/raw/rent_comp/
• reference/normalized/market_rents__{market}_mf.csv
• reference/normalized/comp_normalization_rules__middle_market.yaml

Escalation points

• Magnitude delta above threshold: regional / AM per reference flow.
• Source integrity concern (unverified source, stale date): regional verification.

Required approvals

• Market rent reference update above delta threshold (per reference update flow).

Failure modes

1. Promoting shopped comps without concession normalization. Fix: normalization rules overlay governs.
2. Using sample-tagged third-party data as approved. Fix: sample never auto-approved.
3. Skipping the derived recomputation. Fix: step is mandatory on every normalized update.
4. Silent overwrite of prior record. Fix: prior_reference_id linkage.

Edge cases

• Conflicting comps from two sources: surface both; overlay may prefer higher-confidence source; operator resolves.
• Comp for unit type not in benchmark: new row; operator decides whether to add unit type to benchmark.
• Concession-heavy new supply: effective rent math must apply; surface nominal and effective.

Example invocations

1. "Log the shopped comps from the Charlotte South End tour."
2. "Ingest the latest 3rd-party export and propose updates."
3. "Update the Ashford Park submarket benchmark with these three comps."

Example outputs

Output — Rent comp intake (abridged, three comps for South End)

Validation. All three records pass schema.

Normalization. Applied concession and unit-type normalization per overlay.

Delta check. One comp produces a magnitude delta above overlay threshold; approval_request opened per reference update flow.

Normalized file. Two records upserted as approved; one held as proposed pending approval.

Change log. Three entries appended.

Derived. market_to_lease_gap recomputation triggered; downstream skills notified.

Confidence banner. comp_normalization_rules__middle_market@2026-03-31, status=starter. Raw source types surfaced per record.