Real Estate

Zumper Employs Artificial Intelligence For Rental Leads

Rental real estate platform Zumper is bringing artificial intelligence to the rental platform space.

The company announced on Thursday the release of ‘PowerLeads AI,’ a new artificial intelligence product it’s developed that will analyze renter behaviors in order to predict the likelihood of a particular renter signing a lease for a specific apartment.

Cultivating rental leads can be tricky — renters are often in a more uncertain position financially, and may be renting in a particular city because they just want to test the waters, or are hoping to move elsewhere in the future.

With the launch of PowerLeads AI, Zumper hopes to reduce some of the uncertainty surrounding renter prospects.

“Leasing consultants report current industry methods for managing leads are not only highly inefficient and frustrating, they’re also one of the industry’s most significant challenges,” a press release from Zumper states. “By proactively identifying prospective renters who are more likely to lease immediately, both renters and leasing consultants benefit from a far more efficient, personalized experience.”

The new AI tool works in three primary ways:

  1. It identifies renters that are statistically proven to be more likely to immediately enter into a lease and flags them to property managers.
  2. It provides leasing agents with over 50 unique renter characteristics to help match renters with an apartment that will best fit them.
  3. It gives leasing agents real-time updates on a prospect’s interests so they can adapt to a particular renter’s needs.

Tanguy Le Louarn | Credit: LinkedIn

“Our studies showed that the vast majority of leasing teams want a way to understand which prospects are more likely to lease, so we knew that it was vital to solve this challenge with an industry-first solution,” Zumper Chief Growth Officer Tanguy Le Louarn said in a statement.

“In fact, 78 percent believe having more data on prospects would help them convert more leads. By using cutting edge AI and machine learning to provide predictive insights and data, we’ll not only provide higher quality leads, we’ll also enable a faster leasing process.”

Back in August, Zumper began offering Matterport 3D tours and services to its landlords, and later that month, launched a program guaranteeing up to a year’s worth of rent for small landlords who listed their units with the platform.

Email Lillian Dickerson

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