Business
AI is moving into the apartment market, taking over work orders, lease renewals, showings and more

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A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.
The days of landlords knocking on doors for monthly rent checks, or tenants going after landlords to fix a leaky toilet are slowly coming to an end. Technology has been stepping in to address the needs of tenants, landlords and large multifamily operators, and now artificial intelligence is turning that slow progress into a rental revolution.
Work orders, lease renewals, tours and even investor due diligence are being taken over by software and AI. As with the start of any technology, it has been largely fragmented among a multitude of vendors. The integration of all that technology is a huge opportunity for startups and the venture capitalists backing them.
Rent tech
One of the more mature categories for AI in the apartment space is virtual agents talking to prospective residents. This is where agentic AI comes in — meaning AI that can act autonomously and make its own decisions depending on what the consumer asks. There are still, however, just a handful of companies using that advanced level of machine learning.
AI is also proving useful on the investment side of the multifamily business, specifically underwriting and acquisitions. For example, investors looking to purchase a large property have to go through all the leases and load those into a rent roll.
“If you’re buying a property that hasn’t been professionally managed, where those aren’t all loaded into some market-leading software product, somebody may have to manually go through all those leases and capture all the information. Well, AI is great for that, right?” said John Helm, founder and partner at RET Ventures, a fund focusing on AI in both real estate and rent tech.
Instead, according to Helm, you can feed leases into an AI model, and it will spit out a summary of all the data the investor needs. They can then load that directly into an underwriting model and value the property.
RET Ventures said it doesn’t rely on endowments or pension funds for its capital, but instead the consumers of the products of the companies they invest in — so-called strategic limited partners.
“We have 60 multifamily operators that have about over 3 million units in our fund,” he said.
Property management
AI can also help with property development and accounts payable. Multifamily developers will often have multiple vendors, from landscaping to plumbing to heating. Many still use paper invoices.
One of RET’s portfolio companies is PredictAP. It takes all those invoices, reads them and then repopulates all the necessary data into the company’s payables system to make the process and payments more efficient. None of it needs to be manually coded by a human.
Funnel
Tyler Christiansen likens the multifamily industry to car dealerships. Every renter interaction was siloed to an individual property. As CEO of Funnel, which is backed by RET Ventures, his aim is to streamline the apartment marketing and leasing process, “enabling multifamily professionals to generate more profits, efficiency, and insight across their portfolios,” according to the company website.
Funnel works with large apartment real estate investment trusts such as Camden Property Trust, MAA and Essex Property Trust, as well as Cortland, which owns 90,000 apartments. Christiansen said that rather than the renter’s relationship being with the community, the renter’s relationship is really with the brand. He calls that “centralization” in the industry.
“And then AI, what makes it unique within Funnel is that rather than automating interactions simply at a community level, we’re really opening up automations across the portfolio,” said Christiansen.
One example would be if a tenant is not renewing a lease at one community because they are moving to a different market, Funnel’s AI system would open up the possibility of cross-selling that person into another client community.
Headwinds
Despite the progress, the technology is still in its infancy, and it’s expensive. Apartment operators and investors are in the experimental phase. It remains to be seen how much they will invest.
Plus, the multifamily industry is highly fragmented. There are close to 50 million rental units in the U.S., the majority owned by small, often mom-and-pop landlords. The largest apartment REITs own roughly between 50,000 and 100,000 units each, with a few larger private operators, like Blackstone and Greystar.
“I guess the challenge is going to be, probably in the next several years, really sifting through everything and understanding where there are real businesses that could grow into this. You’re still seeing a lot of these tools just starting to get deployed,” said Helm.
Business
Women in banking: SBI aims for 30% female workforce by 2030; steps up inclusion and health initiatives – The Times of India

The State Bank of India (SBI) has set a target to raise the share of women in its workforce to 30 per cent by 2030 as part of a broader push to strengthen gender diversity and inclusivity across all levels of the organisation.SBI Deputy Managing Director (HR) and Chief Development Officer (CDO) Kishore Kumar Poludasu told PTI that women currently account for about 27 per cent of the bank’s total workforce, though the figure rises to nearly 33 per cent among frontline staff.“We will be working towards improving this percentage so that diversity gets further strengthened,” Poludasu said, adding that the bank is taking targeted measures to bridge the gap and meet its medium-term diversity goal.With a staff strength of over 2.4 lakh — among the highest for any organisation in the country — SBI has rolled out several initiatives aimed at creating a workplace where women can thrive professionally while maintaining work-life balance.Among the women-centric measures, the bank offers creche allowances for working mothers, a family connect programme, and dedicated training sessions to help women re-enter the workforce after maternity, sabbatical, or extended sick leave.Poludasu said SBI’s flagship initiative, Empower Her, is designed to identify, mentor, and groom women employees for leadership roles through structured leadership labs and coaching sessions. The programme aims to strengthen the pipeline of women leaders across the organisation.The bank has also introduced wellness initiatives tailored to women’s health needs, including breast and cervical cancer screenings, nutritional allowances for pregnant employees, and a cervical cancer vaccination drive.“These programmes are designed keeping in mind the women and girls who are employed in the bank,” Poludasu said, adding that SBI remains committed to fostering an inclusive, secure, and empowering workplace.Currently, the lender operates over 340 all-women branches across India, and the number is expected to increase in the coming years.SBI, one of the world’s top 50 banks by asset size, has also been recognised among India’s best employers by multiple organisations. Poludasu said the bank continues to drive innovation across processes, technology, and customer experience while ensuring that diversity and inclusion remain central to its transformation journey.
Business
Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India

India and the 27-nation European Union (EU) have concluded the 14th round of negotiations for a proposed free trade agreement (FTA) in Brussels, as both sides look to resolve outstanding issues and move closer to signing the deal by the end of the year, PTI reported citing an official.The five-day round, which began on October 6, focused on narrowing gaps across key areas of trade in goods and services. Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the final days to provide additional momentum to the talks.During his visit, Agrawal held discussions with Sabine Weyand, Director General for Trade at the European Commission, as both sides worked to accelerate progress on the long-pending trade pact.Commerce and Industry Minister Piyush Goyal recently said he was hopeful that the two sides would be able to sign the agreement soon. Goyal is also expected to travel to Brussels to meet his EU counterpart Maros Sefcovic for a high-level review of the progress made so far.Both India and the EU have set an ambitious target to conclude the negotiations by December, officials familiar with the matter said, PTI reported.Negotiations for a comprehensive trade pact between India and the EU were relaunched in June 2022 after a hiatus of more than eight years. The process had been suspended in 2013 due to significant differences over market access and tariff liberalisation.The EU has sought deeper tariff cuts in sectors such as automobiles and medical devices, alongside reductions in duties on products including wine, spirits, meat, and poultry. It has also pressed for a stronger intellectual property framework as part of the agreement.For India, the proposed pact holds potential to make key export categories such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery more competitive in the European market.The India-EU trade pact talks span 23 policy chapters covering areas such as trade in goods and services, investment protection, sanitary and phytosanitary standards, technical barriers to trade, rules of origin, customs procedures, competition, trade defence, government procurement, dispute resolution, geographical indications, and sustainable development.India’s bilateral trade in goods with the EU stood at $136.53 billion in 2024–25, comprising exports worth $75.85 billion and imports valued at $60.68 billion — making the bloc India’s largest trading partner for goods.The EU accounts for nearly 17 per cent of India’s total exports, while India represents around 9 per cent of the bloc’s overall exports to global markets. Bilateral trade in services between the two partners was estimated at $51.45 billion in 2023.
Business
Telcos network costs rise: Gap between expenditure and revenue exceeds Rs 10,000 crore; COAI flags rising network investment burden – The Times of India

The gap between telecom operators’ network expenditure and revenue continues to widen, prompting industry body COAI to defend calls for higher mobile tariffs, citing the increasing financial burden of network deployment on service providers.Speaking at the India Mobile Congress, Cellular Operators Association of India (COAI) Director General, SP Kochhar, told PTI that while the government has provided significant support to telecom operators through policies such as the right of way (RoW), several authorities continue to levy exorbitant charges for laying network elements.“Earlier, the gap until 2024 for infrastructure development and revenue received from tariffs was around Rs 10,000 crore. Now it has started increasing even further. Our cost of rolling out networks should be reduced by a reduction in the price of spectrum, levies etc. The Centre has come out with a very good ROW policy. It is a different matter that many people have not yet fallen in line and are still charging extremely high,” Kochhar said.He also defended the recent cut in data packs for entry-level tariff plans by select operators, stressing that the move was necessary given competitive pressures.Kochhar pointed out that competition among the four telecom operators remains intense, and there has been no significant trend suggesting that consumers are shifting towards low-cost data options.“There is a need to find ways to make high network users pay more for the data. Seventy per cent of the traffic which flows on our networks is by 4 to 5 LTGs (large traffic generators like YouTube, Netflix, Facebook etc). They pay zero. Nobody will blame OTT but they will blame the network. Our demand to the government is that they [LTGs] should contribute to the development of networks,” Kochhar said.He added that the investments made by Indian telecom operators are intended for the benefit of domestic consumers and are not meant to serve as a medium for profit for international players who do not bear any cost.
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