Central Coast start-up offering world first technology for renters

Tenants will attest that renting a property can be one of the most stressful parts of life, whether it be the headache of a new application, bond refunds, maintenance delays or overdue rent payments.
But a Central Coast start-up is now offering a service that could make the headache a little bit easier.
Launching a new artificial intelligence customer service initiative, local agent’s Raine & Horne Terrigal and Erina-based developer Realm Property are offering a world first real estate software that integrates with cloud based trust accounting platforms. Affectionately named CLAIRE, Property Realm’s AI is set to revolutionise the property management sector in Australia

Property Realm combines artificial intelligence (AI) with voice recognition and uses Google suite products such as Google Home and Google Assistant to provide tenants with full access to their ledger information, held on their property manager’s trust account.

An integration with Google assistant on phone, Google mini or SMS will allow renters to simply ask their device, “hey Google, Talk to Property Realm?” and a whole range of information can be provided such as tenancy information, rent queries, maintenance requests, tenant rights, contact their property manager, along with a wide variety of policies and information about renting in their state.

“Having happy renters is our goal and by providing them with the information they need in a straightforward way, 24 hours a day, we believe , will have a big impact,” Brett Hunter, Managing Director of Raine & Horne Terrigal, and President-Elect of the Real Estate Institute of NSW said.

Patrick Hill, CEO of Realm Property said that problems will be solved for both property managers and tenants.

“Property managers are generally swamped, with hundreds of emails to answer. They can now come into work and find that the problem has already been solved because the tenant had a conversation with the AI at 10pm at night. This reduces stress and problems for them, so they’re getting a lot of value out of it,” he said.

“The tenant is also getting value because we are offering a higher service level for them — they can ask for something when and how they want.

“One of the other cool things is that AI can talk across many mediums — in the next five years there’s going to be five generations in tenancies, from Boomers to Z’s — they want to talk in very different ways. One will want to come and talk in person, one wants to pick up the phone, another SMS, some will want to use Facebook messenger — our AI is built to talk to all of those. In a couple of months we’ll have Facebook messenger and email added to the service.”

Renters can ask questions like when is my rent due or can I have a pet.
“It also targets the data within your account, so for some people who want a puppy, the answer might be no for others yes.” 

Mr Hill said that because the technology works 24 hours a day, 7 days a week, there are lots of things that it can do that an ordinary agency could not.

“Just like a property manager that you hire off the street, it’s learning new skills along the way. So it’s learning at a rate of about four new skills every couple of weeks. Continually getting smarter off existing skills.”

This article first appeared on realestate.com.au

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