How real estate investors are banking on technology to deliver profits

In the future, potential renters may visit available units, apply for leases and execute paperwork without ever seeing a human being. That’s what PropTech investor John Helm is banking on. Helm is the managing director for Real Estate Technology Ventures (RET Ventures), an industry-backed early stage investor fund. He made his prediction of human-free leasing during a panel Wednesday at the Urban Land Institute Miami fall symposium.

Cutting leasing staff can significantly trim expenses for an apartment building, said Helm. But the savings won’t come from a single app. “We tend to follow things and invest in companies that compliment one another,” said Helm. His team is investing in artificial intelligence companies that digitize the screening of a would-be renter online and allow that renter to schedule an appointment to tour the unit. RET Ventures is also investing in lock-and-entry technology using facial recognition software to give access to a person to tour an apartment.