Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Startup makes AI-powered chatbot for property managers

09/23/2019

Download PDF

A Canadian company just launched a chatbot that answers questions tenants may have about a property using artificial intelligence.

Developed by the British Columbia-based real estate startup LetHub, the River chatbot can book tours, pre-screen tenants and navigate questions that would normally fall upon a property manager during the early stages of the rental process.

LetHub

“Renters can get their questions answered and get pre-qualified directly with the assistant,” Faizan Ali Khan, LetHub’s founder and CEO, told Inman. “In a typical rental company, a leasing agent would have to do all of that by picking up the phone.”

A recent MBA graduate from the University of Victoria, Faizan thought up the idea for River after realizing that many of the questions tenants ask when they’re starting to look for a place are similar and can be automated with a cloud platform and artificial intelligence. The chatbot replies to prospective tenant’s questions about the place and books tours while redirecting more complicated queries to a human manager.

Faizan Ali Khan | Courtesy of LetHub

“A leasing agent typically spends 70 percent of their day answering questions about the apartment and pre-qualifying people,” Khan said. “We wanted to automate some of that process.”

Can you buy or sell an entire book of business? Yes and here’s how. The Agent Succession Program brings together agents looking to move up and those looking to move on READ MORE

The software costs vary depending on how many units a building has — someone who manages a building with less than 1,000 units would pay between $500 and $600 a month (between 50 cents and $1 per unit) while those with multiple buildings and more than 1,000 units would get a special discount.

The River chatbot is, according to Khan, a way of pre-screening candidates before advancing to the later stages of renting a place to a tenant. At the moment, he and his team at LetHub are piloting it with a few local rental buildings and hope to get more property managers on board by the end of the year.

“We want everyone from the large property manager to the small landlord to be able to use it,” Khan said.

Email Veronika Bondarenko

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

April 2024
Mon Tue Wed Thu Fri Sat Sun
1234567
891011121314
15161718192021
22232425262728
2930  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...