Marketing and leasing software provider Nestio announced the release Thursday of Funnel, a platform intended to improve the multifamily leasing experience through artificial intelligence and the automation of all stages of the leasing process.

"As arduous as the apartment rental process is for renters, it's equally inefficient for leasing teams who have to schedule viewings, run background checks, and field questions. That's why we're thrilled to announce Funnel by Nestio," said Caren Maio, CEO and co-founder of Nestio. 

This technology increases conversation by automating manual tasks, making for an easy and instant online leasing experience, the company said. 

With AI-powered technology, Funnel eliminates the need for an applicant to provide documents such as bank statements, pay stubs and tax forms.

In November, the company announced its enhancements made to the platform to simplify tour scheduling and lead management. 

The online leasing component of Funnel will be released in beta this year, and will do a full launch in 2020, Nestio said.

The full launch will include automating inventory management, lead inquiry responses, real-time tour scheduling, and shortly, the entire online leasing process.

Funnel's offering includes availability syndication, community websites, lead management, online leasing and reporting. These products will include time-saving features such as "click-to-dial" phone calls, multi-touch attribution and AI responses.

"Funnel finally brings the same modern technology that has driven other industries into the multifamily real estate space,” Maio said. "The result is a revolution in the leasing experience, from the moment a prospective renter shows interest in an apartment, to the first time they can call it home."