Sub-GL granularity
Our expense comps don't end at an OpEx ratio or an R&M line. We comp down to HVAC, landscaping, and maintenance payroll, apples to apples.
Turning property expense data into control, clarity, and higher NOI.
Truebase is the expense comps platform for multifamily. We bring high-fidelity expense comps to the industry (finally), and our agents mobilize them to find NOI lift opportunities within your own data.
Live with owners managing $2B+ in real estate.
Why we exist
Expenses have long been a black box in real estate.
...with critical data fragmented across thousands of PDFs, spreadsheets, and systems.
✓
Rent comps
Solved. Everyone has them.
✓
Sale comps
Solved. Brokers give them away.
We build the third
Expense comps
Nothing below the OpEx ratio. Until now.
How Truebase works
We're building the agentic layer that unites and mobilizes fragmented real estate expense data.
01 · Connect
Connect your operational data, however it lives.
We get data from wherever you keep it, from a structured data lake to a file storage platform like Box to raw PDFs. No implementation, no setup fees, and connecting your data takes less than 20 seconds.
Property management systemLive sync
Data lakeWarehouse export
SharePoint · Box · DropboxYour file storage system
Email · PDF · XLSRaw files
One database per owner
Truebase
9 properties2,382 units36 months
● Connected · under 20 seconds
02 · Clean and normalize
We clean, normalize, and anonymize your data.
Every ledger maps to one chart of accounts at the subaccount level: HVAC, not just R&M. Maintenance payroll, not just payroll. Each property is tagged by vintage, class, size, and manager so comps are apples to apples. Names and addresses come off before anything is distributed.
PDFIncome statement
XLSGeneral ledger
PDFVendor contracts
PDFBank statements
Standardized · one chart of accounts
5220 · HVAC repair$1,240
5050 · Landscaping$480
5310 · Maintenance payroll$6,120
6450 · Elevator contract$2,599
Property #A4F2Anonymized
03 · Comps
Granular, expense-side comps.
Search the map, filter by submarket, vintage, class, size, and manager, and build a comp set that is actually comparable. Save it to your asset, slice it line by line, and export it into your budget, your pro forma, or your LP report.
Comp set filters
Radius5 mi
Vintage1990 to 2005
ClassB
Units150 to 300
Manager3rd party
Elevators2 cars
✦ Matched by Truebase
14 comps selected · anonymized
Median / unit / yr · Landscaping $412 · R&M $540 · Insurance $925
Save comp set
04 · AI agents
The first comps platform where you'll never have to look at comps.
Our agents benchmark your expenses against the right comp set, flag the lines that are over, show the comps and the confidence behind each call, and draft the next step for your property manager. Challenge a vendor, level a bid, push back on a budget. Tactical NOI lift for your asset managers, with the work of digging through comps taken out.
✦ R&M agent · FindingCobalt · 212 units · 2 elevators
Elevator maintenance at Cobalt runs $3.20 per unit above the norm.
Cobalt pays$7.60/ unit / mo
Comp set average$4.40/ unit / mo
Over the norm$13.1K/ yr
Normalized per unit a month
Comp set average · 14 buildings$4.40
Your portfolio · 2 buildings with elevators$4.60
Cobalt pays · Summit Elevator$7.60
How Truebase found this$2,599 a month to Summit Elevator since October 2021, posted to GL 6450 Contract services. The rate has not changed in four years.
Request a re-quote from Summit and two alternatives before renewal.
AcceptAmendReject
Where this comes from
Highlighted: the fields Truebase used for this finding.
ABCDE
1DateGLPayeeMemoAmount
2Oct 15310Maintenance payrollPay period 9/16 to 9/306,120.00
3Oct 26110Northgate InsuranceProperty policy9,480.00
4Oct 35050GreenScape LandscapingOctober service4,650.00
5Oct 35220Bright HVACRooftop unit repair1,240.00
6Oct 56450Summit ElevatorMonthly maintenance2,599.00
7Oct 75410Valley Plumbing Co.Unit 212 leak285.00
8Oct 96210RentReach MediaListing fees890.00
9Oct 125120Metro Water DistrictSeptember usage7,310.00
10Oct 155310Maintenance payrollPay period 10/1 to 10/156,120.00
11Oct 186420Cascade Pest ControlQuarterly service540.00
12Oct 225130Regional Power Co.Common area electric3,180.00
October 2026 · All GL lines12-month P&L
Used for this finding
Your comp set for Cobalt14 buildings · 2 cars
Average spend at this comp set$4.40 / unit / mo
1420 Harbor Ave2 cars · 5 stops · 198 units$4.10
88 Lindell St2 cars · 6 stops · 240 units$4.55
2200 Parkline Blvd2 cars · 5 stops · 176 units$4.35
+ 11 more buildings in this comp set
One source of truth
Control, clarity,
and higher NOI.
How our comps are different
Intelligently matched
Our matching system finds the right comp set for each asset. No more 20-factor filter searches to land on something comparable.
Anonymized
No names, no addresses. Your data is cleaned and aggregated before it is distributed, and no comp set is shown until it is large enough to hide any single owner.
Proof
7-13%OpEx reduction from running Truebase agents on your expense data
$2B+AUM already on the platform
20 secondsto connect your data and start viewing comps
“Expense comps are hard to come by. We have no idea about controllable costs, and we've paid well over six figures for data that is high-level and not applicable to the majority of our assets. The type of data Truebase brings together hasn't been seen before in this industry.”