AI in the apartment market, taking over work orders, renewals, showings
CNBC
One of the more mature categories for AI in the apartment space is virtual agents talking to prospective residents. This is where agentic AI comes in — meaning AI that can act autonomously and make its own decisions depending on what the consumer asks. There are still, however, just a handful of companies using that advanced level of machine learning.
AI is also proving useful on the investment side of the multifamily business, specifically underwriting and acquisitions. For example, investors looking to purchase a large property have to go through all the leases and load those into a rent roll.
“If you’re buying a property that hasn’t been professionally managed, where those aren’t all loaded into some market-leading software product, somebody may have to manually go through all those leases and capture all the information. Well, AI is great for that, right?” said John Helm, founder and partner at RET Ventures, a fund focusing on AI in both real estate and rent tech.
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