Rentable Collaborates with AWS to Leverage Generative AI, Revolutionizing how Property Management Companies Collect Public Data
Madison WI, 12/13/2023 — Rentable, a leading provider of property management technology solutions, announced today it is strengthening its relationship with Amazon Web Services, Inc. (AWS) by leveraging the latest generative artificial intelligence (AI) services from AWS. As part of the collaboration, Rentable is using Amazon Bedrock to change how property management companies use public data to reduce risk and make informed revenue decisions.
Rentable integrated Amazon Bedrock into its operations, enhancing the capabilities of its newest product, ApartmentIQ (AIQ). AIQ provides automated market survey data, delivering comprehensive insights into competitors.The platform covers details such as vacancies, new units, days-on-market, rent adjustments, concessions, net effective rent, and more—all the way down to the unit level. Setting a new standard for pricing analysis, it offers daily updates and full visibility into the data driving recommendations.
Amazon Bedrock, a fully managed service that makes foundational models (FMs) available through an application programming interface (API), provides a serverless experience that enables organizations to quickly get started, experiment with FMs, privately customize them with their own data, and seamlessly integrate and deploy FMs into applications.
This collaboration leverages AWS's capabilities to collect valuable public data from the internet, reinforcing the foundation of ApartmentIQ's data-driven solutions, which are differentiated by their unique data sourcing approach. This approach ensures the accuracy and reliability of daily public data but also brings transparency to the property management industry.
"We've relied on AWS for data collection since day one. Throughout the years, as we've addressed numerous features and use cases, AWS has consistently been our primary choice. With the introduction of Bedrock, we now have the opportunity to leverage another AWS service, helping to deliver exceptional value to our customers." Adam Olien, CTO
Since 2012, Rentable has been leveraging the power of AWS to seamlessly extract information from diverse sources, utilizing it to generate advertising posts, craft detailed descriptions for customers, and deploy a chatbot to address user inquiries. AWS supported Rentable with technical specialists providing architectural guidance and best practices for maximizing the value and performance of its Generative AI related projects.
Rentable is deepening its generative AI work by using AWS to tap into Amazon’s more than 25 years of developing and deploying AI and machine learning (ML). AWS provides robust solutions to support every stage of AI and ML adoption—including infrastructure to run high-intensity workloads, tools to build AI, and purpose-built services and applications—to help businesses solve challenges quickly and provide more value for their customers through generative AI.
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About Rentable
Rentable is a leading provider of property management solutions, committed to enhancing the property management industry through innovation and the responsible use of data. Rentable’s product, ApartmentIQ, sets a new standard for market survey data and pricing analysis, offering invaluable insights to property management companies.
Contact Information Media Contact:
Benjamin Latham