Artificial intelligence (AI) was once thought of as something only seen in science fiction films, but it’s very much present in our everyday lives and being used daily in the rental market.
AI technology and property management are a natural fit because there are numerous tasks involved in gathering rental applications, managing contracts, handling repair requests, and other important processes.
Below are five AI applications landlords should consider using to help them make the process of finding, servicing, and keeping a tenant much easier.
Rentler is one of the few platforms that really caters to both tenants and landlords rather than one or the other, and that’s a big part of why it’s such a success. Both parties buying in to the same service eliminates the hassle of back-and-forth communication.
Rentler’s partnership with RentRange gives it access to substantial market data, analytics, and predictions, which translate into Rentability Reports. These reports help property managers understand how their properties stack up against local competition so they can price wisely. The platform also streamlines the rest of the process, too, making applications, screenings, payments, and maintenance incredibly easy to manage.
The platform also gives tenants special perks—like highly customizable listing searches and the ability to build credit with on-time rent payments.
Launched in 2016, Rentberry is now revolutionizing the rental market using artificial intelligence. This platform can handle multiple elements of tenant management, but its real strength is in the application and contracting process. Tenants can make custom rent offers as they apply for properties, and the system’s AI will analyze those applicants and offers to provide recommendations to property owners.
Tenants also like the app because it eliminates a lot of wasted time going back and forth between third parties to help them secure a desirable property at a fair price.
If you’re looking for a full-service property management option or you own multiple properties, Zenplace might be the solution for you. Zenplace uses AI and machine learning to proactively make management and maintenance recommendations for properties. It can also provide intuitive dashboards for owners to easily review property analytics.
Tenants will also appreciate the easily navigable platform. It gives centralized access to various tools, allowing them to schedule showings, report a repair, pay their rent, and keep in contact with the rental company all from the same place.
Your tenants want to keep their homes safe and secure, and you want to run your properties efficiently. Enter the Vivint Smart Home smart security system, which can help your tenants secure your rental properties using everything from smart locks to smart detectors—all through a simple app. With the right equipment, it can also help reduce energy costs by monitoring temperature conditions and learning how your tenants use their cooling and heating system.
Utilizing the Vivint app, tenants can easily check in on whether they locked their doors or set the temperature high enough to keep the pipes from freezing if they go out of town. This type of security is a huge benefit to your renters—and to the safety and condition of your property.
Another app that will help landlords automate tenant engagement is Jack, an AI-powered workspace that provides real time messaging to renters. Tenants can use email or even smart home assistants to contact their management company with questions or issues.
Tenants like Jack because of its prompt notification system, which keeps everyone updated on work orders and repairs, and landlords like the ease of dispatching vendors to resolve issues faster than ever.
As the artificial intelligence industry continues to expand, landlords will rely more on these services to manage their properties. Utilizing these apps to manage your rentals will not only make selecting tenants easier but also help you use fewer resources and save money.
Looking for more ways to better serve your tenants? Be sure to check out Rentler’s landlord articles for more information.