Handling compliance in case of a dispute could be a bonus.

Likewise, Redfin reported rents rose 7.8% in October—the slowest rate in 14 months.

The phased venture will last over the next two years.

"I think it is especially important to challenge, find new ways of working, and be strong in your conviction that just because something has always been done one way doesn't mean that it is right for the future," says Jeremy Bernard, CEO of essensys.