21.10.2021 18:00

AI is making waves in the rent, property owners define the accurate rent price fluctuations with variations in facilities and specifications

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TOKYO, Oct. 21, 2021 /PRNewswire/ -- There are several updates regarding the features of RENOSYOWNER's MYPAGE including updates of the AI market price assessment feature. The market price of rent fluctuation based on facility variations, and market price assessment trends are available in graphs on RENOSY OWNER's MYPAGE. The RENOSY service is a comprehensive one-stop real estate transaction platform provided by GA technologies Co.,Ltd. (Headquarters: Minato, Tokyo / CEO: Ryo Higuchi / Securities Code: 3491. Here refers to as "the Company".)

AI is making waves in the rent

[Key Highlights]

  • Update of the AI price assessment feature on RENOSY OWNER's MYPAGE targets at property owners.
  • The feature of "setting the influencing factors about rent price" has been added to the system in which owners can check the market price of rent based on different facility options and specifications selected.
  • Despite the registration date of the property, all the users can check the price assessment trend about a property for up to six months on RENOY OWNER'S MYPAGE.

Background:
AI price assessment feature provided by RENOSY is a feature target at property owners exclusively on OWNER's MYPAGE. ([1]) Users can check the assessment price of sell, rent as well as the monthly price fluctuation trend in the past by entering the name of the building (property), floor plan, etc.

Besides, the feature of "setting the influencing factors about rent price" based on facilities and specifications variations has been added. Users can also check about the monthly assessment trend of the selling price, rent price in the past shown as graphs on OWNER's MYPAGE .

Background about the updates: "setting the influencing factors about rent price"
The assessment suggested by AI is based on the information provided by the property owners plus the data gathered and analyzed by the Company's owned AI technology. However, the actual price may vary due to the actual condition and facilities, specifications of the property such as "initial cost", "with/without parking lot", "pets allowed / not allowed" etc.

These factors that could influence the rent price are important elements of reference for owners to take into consideration when putting the property on the market for lease. This is also why we decided to add such a function into the system with the update.

  • Key updates

1.  "Setting the influencing factors about rent price"
Users can use this feature to check the estimated rent price with different options of facilities and specifications selected.

Features we offered for our users.
[Features]

  • No initial cost
  • Corner room
  • Good view, good sunlight
  • Pets friendly
  • Flat parking lot 
  • Parking lot 
  • Bath with a view
  • Walk-in closet
  • Roof balcony
  • Dishwasher
  • Oven
  • Floor heating
  • Top floor
  • Storage

The assessment and the trend of price change based on different selections are also available in the following graphs.

[Rent assessment]
The formula for the assessment of rent price is as follows: Assessment = Basic rent (standard rent calculated by AI) + individual option(s) selected (features that could influence the rent price). The rent price will vary based on the factors selected by the owner.
(Example) price of assessment 290,400 JPY = Basic rent 282,000 JPY + individual options (factors) selected 8,400 JPY (" Corner room" is selected)

[Graph of the changing assessments]
The prices being shown in the graph (the past 6 months) are the prices with the factoring price included.

2. "Trend of past assessments"
Originally, only the assessed selling price, rent price of the first month are showed when the owner registered the property the very first time onto the App. With the updates of the system, owners could check about the latest monthly assessments automatically for up to 6 months as the maximum.
Regarding this update, all users can check the trend of past assessments about their properties up to 6 months with a graph regardless of the date of registration of the property.

  • How to use
  • Log on to RENOSY from the following link: URL:https://www.m-standard.co.jp/lp/about_mypage/
  • Click "Get a price assessment by AI", then enter your property's information.
    • About RENOSY: the comprehensive one-stop real estate transaction supporting platform

    RENOSY is a comprehensive one-stop real estate platform provided by GA technologies under the concept of "making house hunting and assets management easier". With the business vision of "inspiring the world with the power of technology and innovation", the purpose of RENOSY is to make everything about real estate easier for our customers, whether you want to "rent", "buy", "sell", "lease", "renovate" or "invest" on a property, you can get what you want and need all in one place. Currently, we have about 22,0000 registered members, and more than 15,0000 existing properties in the center of Tokyo available on our website. GA technologies is working on helping to accelerate the digital transformation process of the industry, and to provide a better customer experience both online and offline.

    [1] Data of the number of RENOSY members: by July 2021 / Data of the number of properties available on the website: by October 2020

    • About GA technologies

    Company: GA technologies Co., Ltd.
    Representative: Ryo Higuchi
    URL: https://www.ga-tech.co.jp/en/ 
    Head office: 40F of Sumitomo Fudosan Roppongi Grand Tower, Roppongi 3-2-1, Minato District, Tokyo
    Year of founding: March 2013
    Capital fund: 72,19,146,516JPY (by September 2021)
    What we do:

    • The operation of the PropTech (Property technology) one-stop service site "RENOSY"
      (Real estate information portal site, real estate trading, real estate interior design & renovation, real estate property management)
    • SaaS type of BtoB PropTech product development
    • Real estate industry research using AI technology
    • Overseas PropTech portal site "Shenjumiausuan"'s operation, targets customers in the Greater China

    Sub companies: ITANDI Co.,Ltd, Modern Standard Co., Ltd, Shenjumiausuan Co.,Ltd and 8 other companies

    For this release, please contact below:
    Nami  (+81-90-1503-9158), Judy,  GA technologies Co., Ltd.  MAIL: pr@ga-tech.co.jp 

    ([1]) Reference source: Checking the assessment price of your property by AI and more on RENOSY
    (https://resources.ga-tech.co.jp/Release/210726_mypage_update_v2_FD.pdf)

     

    GA technologies (PRNewsfoto/GA technologies Co., Ltd.)

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-is-making-waves-in-the-rent-property-owners-define-the-accurate-rent-price-fluctuations-with-variations-in-facilities-and-specifications-301404361.html

    SOURCE GA technologies Co., Ltd.

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