Magicbricks rolls out ‘Know Your Tenant’ to solve challenges faced by landlords, ET RealEstate
NEW DELHI: Magicbricks, a real estate platform, rolls out Know Your Tenant (KYT), aimed at revolutionizing the home rental process through the power of technology.
KYT reduces time invested by tenants and landlords by 37%; and has the potential to improve tenant-landlord match by more than 20%, the company said.
Traditionally, the search for an ideal tenant has been a time-consuming and labor-intensive endeavor, often leading to uncomfortable face-to-face interactions where landlords may decline rental opportunities based on socio-economic preferences.
KYT facilitates seamless conversations between landlords and potential tenants through chat windows integrated within the Magicbricks platform. This feature maintains the privacy of both parties by not sharing contact information unless mutually agreed upon, ensuring a secure and confidential exchange. By enabling relevant and informed discussions, KYT significantly reduces the risk of leasing to unreliable or unsuitable tenants, fostering more successful tenant-landlord matches.
Rohit Manghnani, chief product officer at Magicbricks said, “The introduction of the Know Your Tenant (KYT) feature is aimed at supporting landlords in their decision-making process by taking into account their preferences. KYT has already yielded significant advantages, with landlords and tenants experiencing a remarkable 37% reduction in the time required for the rental process.”
This announcement comes soon after Magicbricks recently launched its AI-powered marketing solution tool, Project Market Scanner (PMS).
