Keyo looks to eliminate the traditional agent with AI-driven tech

Keyo, a property management startup, says it gets tenants into their new leases faster than traditional agents

Keyo says its artificial intelligence (AI) technology will change the risk calculus for rental landlords. It also claims it can find a qualified tenant faster than a traditional broker.

Palo Alto-based Keyo said it’s guaranteeing that its landlord clients are paid for every month of a lease, even if the tenant defaults or leaves early. The company has a network of 2,700 apartments in New York City and claims to have collected more than $3.5 million in guaranteed rent payments.

Basically, landlords sign up their vacant apartments through Keyo and the company places qualified tenants in the units. Keyo charges the landlord one month’s rent to place the tenant — effectively a broker fee — and guarantee the financial terms of the lease. The tenant isn’t charged any additional fee by Keyo. Its app allows tenants to pay landlords directly — and the company has partnered with credit bureaus.

Keyo launched in May 2018 pitching itself as an AI-powered platform that can place and guarantee tenants in less time than a broker.

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