The Future of Renting: How AI and Social Media are Transforming the Apartment Search

Artificial intelligence and social media have changed many industries, and real estate is no exception. The power of AI in data analysis and giving personalized predictions is remarkable.

Social media and AI benefit both the property owner and the person searching for apartments for rent. Social media platforms are instrumental in getting information about new apartments and commercial properties available for rent.

AI-driven real estate platforms help people get personalized property suggestions based on their requirements and search history. In this post, we will discuss how social media and AI are transforming apartment renting.

AI-powered tools and social media applications are transforming the real estate industry rapidly. We can understand this change by looking at the revolution in traditional shopping after the coming of e-commerce.

E-commerce allows buyers to check as many commodities as they want with just a single click. The same goes with real estate, people are now able to see property from their mobile or laptop.

Following are the top 5 ways through which AI and social media applications are transforming the apartment renting industry.

Batter Home Searching Experience

When you are shifting to a new city for a job or studies, the first thing that troubles you is house hunting. Searching for a budget-friendly apartment in a good location can be hectic and time-consuming.

Conventional real estate platforms that provide information about rental properties were not able to provide a smooth customer experience. They often suggest irrelevant properties in faraway locations. After the emergence of AI-powered platforms, the customer experience of these platforms is enhanced.

Now these platforms can provide personalized properties according to your needs, in the desired location. Their payment features and customer support have also gotten better with the use of AI.

Have A Pet? Read This!
Nowadays, almost every person loves to have pets. But this doesn’t mean your landlord will allow you to keep a pet. Thus, if you have a pet or want to have one in the future, you must ensure that your landlord is pet-friendly.

Informed Investment Decisions

Data collection is an important aspect of every industry and in real estate, investors require data about what location and house designs people prefer these days. So that they can make data-driven investment decisions.

Previously humans used to collect this data on their own, and as we know the human mind has limitations. But nowadays, AI-based tools are used for data analysis which are going beyond the unexplored doors of data analysis.

AI-powered technology is now capable of emotion analysis, neighborhood life quality analysis, behavior analysis, and many other tasks. Neighborhood analysis is one of the most important considerations during a house hunt.

A good neighborhood not only ensures your safety and well-being but also gives you surreal satisfaction. AI technology can analyze crime rates, school ratings, and healthcare facilities of the location, which can help people make informed decisions.

Image Recognition of Property

With the advancements in technology, real estate platforms are now backed by image recognition AI. There are many uses of image recognition in real estate for both landlords and buyers.

One of the main benefits of image recognition for buyers is that they can analyze and filter the properties based on their visual features like size, condition, layout, etc. Apart from these, buyers can also get a virtual tour of the property without visiting there.

From the owner’s perspective, there are many landlord tools available online to manage your rental property. Landlords can verify the identity of visitors and tenants with these tools through biometric scans.

Do You Know?

People leave their houses for a variety of reasons including personal and professional life, children’s education, etc. But you will be amazed to know that people also leave their houses due to paranormal activities.
A report conducted by Cinch Home Services shows that 1 out of every 10 people who leave their houses is because they think their house is haunted. Most of them try to solve the problems by contacting religious figures before moving out of the house.

family leaving home Image taken from the Internet

Simplification of The Renting Process

When you have selected your desired property in a good location, now the next work is to fulfill the legal obligation to step into the apartment. This process is often very frustrating and time-consuming, and AI-powered platforms make these processes easy for you.

These platforms streamline the whole process and help both tenant and landlord. After stepping in, these platforms also help with monthly obligations like rent payments, maintenance request scheduling, and others. These platforms also help in finding shared rentals.

Shared rentals have become very common these days, where AI technology helps people analyze the data and select the best flatmate according to their lifestyle, habits, profession, relationship status, etc.

Social media groups related to apartments and house hunting play a vital role in selecting the right property.

There are some chances that you will not get the complete and right information about a particular property on online platforms. In this case, you can join the social media groups of the tenants in that city.

On social media, you might meet the people who have earlier lived in the locality where you want to shift. Those people will be able to guide you best about the environment, neighborhood, and facilities of that locality.

You can consult those people about the usual property rates so that you don’t lose your money. There you will find many landlords also, and you can directly contact them via their social media profiles.

Final Note

Artificial Intelligence and social media have benefited the whole real estate industry by simplifying the house searching process.

AI is helping landlords and investors make informed decisions with the help of data analysis, facilitating them to build online lease agreements and helping agents in lead generation, and tenants to find the desired property.

In this article, we talked about the 5 ways through which AI and social media are transforming apartment searching. I hope you understand the role of technology in this industry.

If you find this article useful, share it with your friends and family members who are searching for an apartment, so that they too can leverage AI and social media in house hunting.