Before the invention of the internet, finding a place to rent required a significant amount of effort. Not only did you have to go to various brick-and-mortar real estate agents to view their listings but also physically visit each property to see if it lived up to your expectations.
While open homes and inspections are still part of the process, the task of finding rental properties is now done largely online. Rental comparison websites such as Rentola Canada use AI to collate data on available properties, then present it to prospective tenants via a user-friendly interface.
Not only can you search by your preferred locale but also the type of property you want to live in, the number of bedrooms, and the minimum or maximum rent you want to pay. It’s all part of the changing way we interact with the world as technology improves and machines take the hard work out of problem-solving for humans.
Location Specifics
Usually when looking for a new place to live, you have a particular city, suburb, or neighborhood in mind. Back in the old days, this would mean traipsing around to agencies in that area and comparing the listings that each offered – a process that could take the best part of a day.
AI rental comparison websites allow you to search not only in one area but also in its surroundings, meaning that your options are broadened. Some will only show properties tagged with a specific destination while others will show rentals within a particular radius of your search location.
By using a rental comparison website, you’re getting a wider choice of properties and can browse listings you might not have otherwise known about, all in the space of a few minutes. Even if the postcode isn’t the exact one you were after, the results will still be within easy access to the amenities of your preferred locale and may have a similar atmosphere.
Image by Maria Teneva, via Unsplash.com
Filter Your Feed
Previously, you had to scour through dozens (if not hundreds) of property portfolios to find the ones that met your needs. But thanks to AI, you can now easily filter the results based on your preferences and better target your search.
Looking for a two-bedroom apartment? Simply select the “apartment” and “two-bedroom” filters. If you have a maximum budget in mind, you can drag the scale down so that you won’t be tempted by properties that exceed your monthly limit.
With some rental comparison websites, you can also get notifications when new properties are listed that match your requirements. This means that you’re always up to date with what is on the market and can apply for a rental as soon as it becomes available.
Image by KOBU Agency, via Unsplash.com
Photos, Videos, and 3D Walkthroughs
One of the biggest impacts that AI has had on helping people to find a new home is through high-quality imagery and graphics. Not only can you browse professional photographs of the property’s internal and external spaces but you can also see how they relate to the surrounding rooms.
This is particularly useful for renters who are moving from interstate or abroad and may not be able to view the property in person. The innovative use of imagery allows you to get a sense of the rooms’ dimensions and views, as well as the overall aesthetic.
By using a decorating app, you can also see how your furniture would look in the rooms, giving you a better idea of how homely the space might be.
Image by Domenico Loia, via Unsplash.com
Human Connection
Despite all of the advantages that AI brings to the real estate industry, there’s nothing quite like being able to connect with a human on the other side of the computer screen. While most of the search results are computer-generated, rental comparison websites also put you in direct contact with property owners so you can discuss the nitty-gritty details on a human level.
Want to bring your pet with you but not sure if the owner will agree? Chat with them directly about your individual circumstances. You can also discuss tenancy dates and how you will access the property on arrival, as well as what is expected of you when the tenancy comes to an end.
The Future of AI In The Real Estate Industry
As with many other industries, the role of AI is only expected to become more involved and advanced as time goes by. Perhaps tenants and landlords will communicate solely through virtual assistants like “Siri” and “Alexa” or maybe inspections will be managed by virtual agents.
It’s expected that imagery and graphics will improve to such a degree that viewing a property in-person may become obsolete. It may also be the case that all accounting will be fully automated and the use of virtual currencies will be the preferred means of payment for your monthly rent and security deposit.
1 Comment
Marco · March 15, 2024 at 12:48 am
Pat Wilkinson’s insightful exploration of AI’s role in the real estate industry brilliantly highlights the convenience and innovation technology brings to house hunting. Your ability to elucidate complex advancements while considering the human element is commendable. Thank you for shedding light on this transformative era in finding a new place to live.