Know Your Tenant Feature Saves Time, Efforts
KYT has already yielded significant advantages, with landlords and tenants experiencing a remarkable 37% reduction in the time required for the rental process, said Rohit Manghnani, Chief Product Officer at Magicbricks
HYDERABAD, June (The CONNECT) – Realty platform Magicbricks has rolled out Know Your Tenant (KYT) tech tool aimed at revolutionizing the home rental process through the power of cutting-edge technology.
Traditionally, the search for an ideal tenant has been a time-consuming and labour-intensive one often leading to uncomfortable face-to-face interactions where landlords may decline rental opportunities based on socio-economic preferences.
With the introduction of the KYT feature, Magicbricks aims to streamline this process, minimizing time wastage and maximizing efficiency through an intuitive and user-friendly interface.
According to Magicbricks’ latest Rent Update, between January and March 2023, rent demand across India increased 7.3% QoQ and 3.3% YoY and is expected to persist. The introduction of KYT feature is aimed at supporting landlords in their decision-making process by taking into account their preferences, Rohit Manghnani, Chief Product Officer at Magicbricks, said.
KYT is now seamlessly integrated into the Magicbricks platform, as a free tool for homeowners who list their properties for rent. KYT has already yielded significant advantages, with landlords and tenants experiencing a remarkable 37% reduction in the time required for the rental process. Moreover, it holds the potential to enhance the matching of suitable tenants with landlords by more than 20%. This is a reflection of our commitment to serve our customers in a more efficient and effective manner and further solidifies Magicbricks’ position as an industry leader in real estate innovation, Manghnani said.
