Can AI the New Tool In Real Estate

[LaMancha Sims]

Would you trust AI to screen your next tenant / flag your next flip / underwrite your next loan? Yes, no, or 'not yet' drop your comment below 👇"

[Ed Barone]

Hi Lamancha,

We are big believers in AI, but we don’t think it’s ready yet to screen tenants.

We use TransUnion for credit, criminal, and eviction reports and Plaid for Assets and Income verification, but leave the final decision to the landlord based on their screening criteria.

Also, an AI model can create liability if it uses inaccurate consumer-report data, cannot explain the principal reasons for an adverse decision, applies criteria inconsistently, or produces discriminatory outcomes, even unintentionally.

AI may eventually help landlords evaluate applicants more efficiently and consistently. But for now, we think better data, clear screening criteria, and human judgment are the right approach. FWIW.

Ed