Streamlining Real Estate Compliance with AI

The Challenge: Managing legal obligations for large real estate portfolios is a complex administrative task. The manual process of tracking and reporting on compliance, especially when properties are sold or changed, was inefficient. Mistakes in this process could lead to significant problems, including regulatory fines, project delays, and unnecessary administrative work. Condor needed a system that could automate these notifications reliably and efficiently.

The Solution: SevenLab developed an AI-driven system that automates the compliance reporting process. The solution intelligently monitors property data and takes action without human intervention. Key features include:

• AI-Powered Data Recognition: The system automatically recognizes significant changes in real estate data (e.g., a change of ownership, completion of a required inspection).

• Intelligent Obligation Matching: It links these data changes to the relevant legal obligations associated with the property.

• Automated Notifications: The system automatically drafts and sends the correct notifications to the appropriate authorities, ensuring that obligations are officially closed out.

• Centralized Compliance Dashboard: It provides a complete, real-time overview of the compliance status for the entire portfolio.

Results and Impact: The AI automation system has delivered significant value to Condor and its clients. Benefits include:

• Faster, Error-Free Reporting: The automated process ensures that notifications are sent quickly and without the errors typical of manual work.

• Full Insight into Compliance: Condor now has a clear and always up-to-date view of how their portfolio complies with all legal obligations.

• Elimination of Manual Intervention: The process runs automatically, freeing up staff from routine administrative tasks.

• Reduced Risk: By ensuring timely and accurate reporting, the system minimizes the risk of non-compliance penalties and other related issues.