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AI (Artificial Intelligence) is taking an increasingly larger role in our everyday lives, from drones and driverless cars to Apple’s Siri and Amazon’s Alexa. Therefore, it comes as no great surprise that the lettings sector is slowly adopting this new technology.

Proptech is quickly gathering traction within the lettings sector. An investment management and professional services company specialising in real estate services recently trialed a high-tech virtual property manager for some Build to Rent tenants. JLL, which provides services to a wide range of customers, claimed that this AI technology is the first example of its use in the property sector in the UK.

By utilising artificial intelligence, this bot allows tenants to log issues as well as book contractors. In some cases, this futuristic solution can also aid tenants in carrying out basic repairs or fixing simple problems. This is done by the renter instructing their Alexa system that there is a problem, or by sending a message through an app or service such as Facebook Messenger or Whatsapp.

From this process, tenants then receive instant confirmation and a solution, whether instructions on how to resolve it themselves or by booking a professional.

If AI still seems a huge step for your lettings business, consider software such as that provided by Inventorybase, which makes the processes of property inventories and inspections much more efficient and straightforward.

Tenants appreciate the fact that problems or repairs are dealt with quickly and efficiently, and that they are valued. Having proptech software available improves communication between landlords, agents and tenants, and increases the possibility of a hassle-free and smooth tenancy. If tenants can report issues and obtain an instant reply, delays in resolving issues will be reduced.

If tenants are provided with ways of solving issues themselves, thanks to AI or other tools, then there will be less demand for agents to hire professionals in order to fix issues. This will not only save costs for both agents and landlords alike, it will create more free time. By using innovation and technology for routine problems, such as contracts and maintenance requests, focus could instead be given to rental home management and overall service, in addition to ensuring tenants remain informed and happy, and aiding landlords in expanding their property portfolio.

As the world becomes increasingly digital-savvy, tech-led and interactive, artificial intelligence will become more mainstream in a variety of different industries. Letting agents who embrace the new technology in its infancy are most likely to be at an advantage later on.

The use of the newest technology must complement the existing processes in your business, which form the foundation of all agencies in the 21st century.

To compete in this increasingly digital sector, where the use of smartphones has soared and the vast majority of property searches are conducted online, your website must be cutting-edge and slick to look the part, as well as working extremely efficiently on both computers and mobile devices.

The ability to look for properties using a variety of different criteria, integration with Google Maps and effective client log-in areas can all enable your website to set itself apart from the competition. Property software systems and cloud technology can help you maintain any aspect of your organisation from any location.

Ensure you are being transparent and fair – start using a property inspection app today to produce professional inventoriescheck-inscheck outsinterim inspectionsbuilding inspectionsrisk assessments and more with InventoryBase.

Start your free trial here today.