Angel Santana Garcia | Istock | Getty ImagesA version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.The days of landlords knocking on doors for monthly rent checks, or tenants going after landlords to fix a leaky toilet are slowly coming to an end. Technology has been stepping in to address the needs of tenants, landlords and large multifamily operators, and now artificial intelligence is turning that slow progress into a rental revolution.Work orders, lease renewals, tours and even investor due diligence are being taken over by software and AI. As with the start of any technology, it has been largely fragmented among a multitude of vendors. The integration of all that technology is a huge opportunity for startups and the venture capitalists backing them.Rent techOne of the more mature categories for AI in the apartment space is virtual agents talking to prospective residents. This is where agentic AI comes in — meaning AI that can act autonomously and make its own decisions depending on what the consumer asks. There are still, however, just a handful of companies using that advanced level of machine learning.AI is also proving useful on the investment side of the multifamily business, specifically underwriting and acquisitions. For example, investors looking to purchase a large property have to go through all the leases and load those into a rent roll.”If you’re buying a property that hasn’t been professionally managed, where those aren’t all loaded into some market-leading software product, somebody may have to manually go through all those leases and capture all the information. Well, AI is great for that, right?” said John Helm, founder and partner at RET Ventures, a fund focusing on AI in both real estate and rent tech.Get Property Play directly to your inboxCNBC’s Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox.Subscribe here to get access today.Instead, according to Helm, you …
