AI will speed up lettings rather than replace agents, Propoly says
The company stated that the technology could automate administration and help agents respond faster to landlords and tenants.
Artificial intelligence (AI) is more likely to replace individual tasks than letting agents, according to Propoly.
The financial technology company stated that the technology could automate administration and help agents respond faster to landlords and tenants.
Propoly added that AI could bring together referencing, fraud checks, document reviews, compliance and rent protection.
It noted that it could also assess maintenance reports, identify missing details, categorise issues and direct jobs to contractors.
However, Propoly warned that AI-generated complaints could include inaccurate, outdated or irrelevant legal references.
It said AI could reproduce or increase bias when used for tenant selection, referencing and risk assessments.
Propoly noted that AI could support income checks, fraud detection and affordability assessments, but agents still needed to understand how decisions were reached.
Sim Sekhon, group chief executive at Propoly, said: “AI isn’t going to make letting agents disappear. It is going to make waiting disappear.
“The technology is exceptionally good at handling the repetitive work that slows people down, whether that’s reviewing documents, checking information, summarising communications or identifying the next action in a tenancy.
“Take referencing. What has traditionally involved information being spread across different systems and processes can increasingly be connected and assessed in minutes rather than hours or days.”
Sekhon added: “That’s where AI can make a real difference to property professionals.
“But there is an important distinction between using AI to help make a decision and allowing AI to make the decision for you.
“In property, a confident answer isn’t necessarily a correct one, and the consequences of getting something wrong can be significant.”
He said: “The winners won’t be the agents who hand everything over to AI.
“They’ll be the ones who use it to become faster, more informed and more responsive, while keeping people firmly in the loop.”
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