| |March 202019Some of the early applications of AI in the home rental market are the voice assistants and Internet of things (IoT). Voice assistant technologies such as Amazon's Echo or Apple's Siri can be applied to improve the service quality in the home rental market.As the home rental market becomes much more organized there is every possibility that voice assistant devices which are invariably connected to the internet helps in improving the service quality. Imagine a scenario where the tenant has an urgent service requirement and that every individual will have to do is to pass on the message onto to the voice assistant to do the needful.In the same vein, IoT also has the potential to be game changer. As more and more devices get connected to the internet, this allows the home rental market to proactively deal with various issues. The IoT sensors could possibly be used on the plumbing pipes which can provide instant alert in case of any leakages.As IoT is still in its infancy, there are multiple instances which can be used to make the homes smart. This provides the security of a home and increases the efficiency of all the utilities. One always hears anecdotal stories about how home owners refuse to put up their property on rent for the fear of housing unsavory tenants. AI can also be an effective medium in communicating the tenancy requirement, which remains a major irritant in the home rental market. AI has already caused certain disruptions in the home rental market especially on the agents' side as certain enterprising startups were able to cut out the brokers through innovative practices.This has resulted in angst among the broker community, but they must come around to the fact that role of technology is inevitable. In fact, it would do them a lot good, the faster they embrace the applications of technology such as AI. As homes become smart with the application of technology reaching to every nook and corner of the house, it is without a doubt that AI will be in the forefront of delivering a higher standard of services in the home rental market.Beyond the home rental market, AI can be applied effectively if a landlord intends to dispose the residential property. For example, a home buyer, in search of home can take a virtual tour of the property he/she is scouting right in front of the computer. This may look very basic, but it serves a stepping stone for new innovative concepts.Besides, property developers are deploying AI in a big to understand house buyers. Chat bots provide invaluable treasure of data for any property developer to understand the market trends and suit their requirements accordingly. This can only grow manifold as AI becomes even more sophisticated and the various possibilities are left to one's imagination. C IAI CAN ALSO BE AN EFFECTIVE MEDIUM IN COMMUNICATING THE TENANCY REQUIREMENT, WHICH REMAINS A MAJOR IRRITANT IN THE HOME RENTAL MARKET
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