Editor's note: This brief was summarised by The Property AI Team from a report by PropertyWire. Read the original article for full details.
Veco adds four AI admin tools for letting agents
Property software provider Veco has released four artificial intelligence-powered features within its Ask Veco assistant, aimed at automating administrative tasks for estate and letting agents across the UK. The tools, available to Veco Plus customers, address compliance documentation, supplier invoices, repair reporting and applicant matching.
The company said the features process routine data entry whilst leaving final approval with agents.
Compliance and invoice processing
The Compliance Assistant extracts information from Gas Safety Certificates, Energy Performance Certificates and Electrical Installation Condition Reports, including expiry dates and certificate numbers. After agent approval, it files documents against properties, sets renewal dates and can close related works orders.
The Supplier Invoice Helper processes invoices in various formats, identifies the relevant managed property, checks for duplicates and extracts details including VAT and nominal codes. Agents review the information before invoices are posted to their systems.
Tenant-facing repair tool
The Repair Assistant provides a self-service channel for tenants to report maintenance issues, gathering additional details and photographs before creating a repair record with a summary and transcript. The tool can identify issues that may fall under tenant responsibility, such as replacing bulbs or fuses.
The Applicant Matching feature compares prospective tenants with available properties using criteria including budget, bedroom requirements and location, as well as less structured factors such as pet policies. Agencies can set their own priorities, with each match receiving a score and explanation.
Richard Murray, CEO of Veco, said: “Agents don’t need AI to make decisions for them. They’re accountable for compliance and for their clients’ money, so they need AI that does the reading and the typing, then hands the decision back.”
Veco said its UK team will provide training and onboarding support to customers adopting the new features. The company has not disclosed pricing details or uptake figures for the Veco Plus subscription tier.
Source: PropertyWire