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How we are working to reduce the cost of renting in London by applying Machine Learning and Artificial Intelligence to manage the Rental Process

1. The £1Bn Cost of Renting in London

Over £1bn is paid by tenants annually to London Estate Agents for rental and property management services. The solution is reducing the transaction cost of renting and not Rent controls.

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Law

2. Regulation Increases costs

The high transaction costs of renting is caused by regulatory compliance. Landlords, Agents and Tenants all have more regulations to deal with when renting a property, than renting a Taxi, Car or AirBnB.

2. Regulation Increases costs

The high transaction costs of renting is caused by regulatory compliance. Landlords, Agents and Tenants all have more regulations to deal with when renting a property than a Taxi, Car or AirBnB.

Law

3. Data Challenge

Additional regulation creates additional data points and processes. The result is transactions are hampered by the volume of data held in multiple data silos and fragmented processes serviced by multiple application vendors. The result, data quality suffers, with disparate structured and unstructured data sets.

data
Meter Reading

4. Less is More

An effective solution should reduce the number of processes and data stores required and primarily focus on reducing manual human data entry points. This reduces the time to transaction and ultimately the cost of renting.

4. Less is More

An effective solution should reduce the number of processes and data stores required and primarily focus on reducing manual human data entry points. This reduces the time to transaction and ultimately the cost of renting.

Meter Reading

5. R.A.i.A

Our solution R.A.i.A™ (Rental Artificial Intelligence Assistant) deploys the 3 key technologies of Automation, Machine Learning and Artificial Intelligence to try and reduce human data requirements in property rental transactions. The critical success factors lie in application of these technologies at the right points in the workflows which dramatically reduce processing errors and the need for human input.

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To find out more about R.A.i.A and RentLondonFlat.com please click on the link below

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