More than ten years ago, the world Artificial Intelligence was only synonymous with sci-fi movies that involves robots and flying cars. When the movie Artificial Intelligence staring Haley Joel Osment came out in 2001, it became the epitome of AI – too advanced that it can only exists in movies.
Today however, AI is slowly becoming part of our daily lives. In fact, it’s in almost everything we use. The ATM Machine we use to cash out money, the new MRT we use to commute to work every morning and even in Samsung’s latest fridge invention that allows us to play music, grocery shop and check the weather.
The advancement of technology has created endless possibilities to businesses and it is only fair that the property industry is making used of it.
The usage of AI can already be seen in a lot of the smart houses around the world where house owners can control the lights, temperature and security features before they even reach home. However, owner’s living condition isn’t the only way AI is changing the property industry.
With the help of AI devices such as Amazon Echo and Google Home, property tenants can pay rent or extend lease without the hassle of meeting at their agent’s office. Tenants can also use AI to report on maintenance issues or any other security issues to their respective agents or landlords.
On top of that, AI can also offer suggestions on maintenance issues as well as provide tenants with guidelines on property maintenance. This is definitely going to save the time of landlords and agents who are dealing with multiple properties. Furthermore, the ease of communication between landlords, agents and tenants will attract tenants to stay longer, cutting the costs of landlords and agents to find new residents.
Less cost and more profit? Definitely a good reason to start implementing AI into your property management!