Contributed Article
Artificial intelligence is enhancing performance for onsite teams at multifamily property management firms.
By: Valerie M. Sargent, Broadband Communities
As the multifamily industry navigates the ever-evolving landscape of technology, of course there is one innovation that stands out for its potential to transform operations and enhance resident experiences: artificial intelligence (AI). In a recent episode of Open Door, as the podcast’s host, I explored the multifaceted ways AI is reshaping the industry, bringing insights from Lacey Brown and David Lee on how this technology is optimizing staffing, engaging residents, and more.
These are five of the biggest themes I took away from our discussion that every property management company should consider in order to stay ahead in this connected, digital age.
AI optimizes staffing and resource allocation
AI’s impact is particularly beneficial in optimizing staffing and resource allocation. As senior vice president at Case & Associates in Tulsa, Oklahoma, Lacey Brown indicated that AI tools are significantly freeing up staff from routine tasks, allowing them to focus on more meaningful interactions with prospects and residents. As an example, Case’s AI driven virtual leasing consultant, Kelsey, has been handling basic inquiries, interacting with prospects, and scheduling tours. This means that onsite teams can spend more time building relationships with prospects and residents, addressing their needs in person.
The efficiency gains from AI (Case has seen a 20 percent increase in leads that come in through Kelsey, with half of that happening during off-hours) also translate to better resource management onsite. By automating repetitive processes, AI can help streamline operations and improve overall productivity. This can be particularly beneficial with large property management teams, where the need to balance multiple responsibilities is crucial. As AI continues to evolve, its role in enhancing operational efficiency and effectiveness will only grow stronger.
AI can enhance resident engagement
One of the most exciting applications of AI in multifamily communities is its potential role in enhancing resident engagement. Lacey and David highlighted several ways AI tools can be used to create more personalized and interactive experiences. For instance, there was the possibility of AI assisting with event management by providing updates on community events, facilitating bingo games, or offering local recommendations. This would not only keep residents informed but would also foster a sense of community by engaging them in activities they enjoy.
Moreover, AI-powered fitness guidance could offer residents a choice of tailored workout plans and tutorials, making it easier for them to use fitness amenities effectively. Maintenance assistance is another area where AI can shine, providing DIY tips and troubleshooting guidance to address minor issues before they require professional intervention. These applications of AI would help residents feel more connected and empowered within their community.
Some practical tips for getting started with AI
For property managers and companies new to AI, starting with accessible tools and gradually expanding their use is a prudent approach. As AVP of New Ventures and AI at Cox Communications, David shared practical advice on how to begin incorporating AI into daily operations. He recommended starting with user-friendly AI tools like ChatGPT or Google Gemini, which are well-suited for handling a variety of tasks, from answering queries to generating content.
To maximize the benefits of AI, developing detailed prompts is essential. David emphasized that providing context and specific instructions to AI can significantly improve the relevance and accuracy of its responses. As property managers become more familiar with these tools, they can refine their prompts to achieve even better results, enhancing their overall efficiency.
AI’s role in future work dynamics
The discussion also touched on the broader implications of AI for the future of work in multifamily communities, and touched on how AI is more likely to enhance digital work rather than replace physical jobs. For tasks that involve managing data, creating content, or processing information, AI can offer valuable support, enabling staff to focus on more impactful work.
The key is to view AI as a complementary tool rather than a threat. Embracing AI’s potential to handle repetitive tasks allows property managers to direct their efforts toward activities that require human touch, such as personalized resident interactions and strategic planning. This balance between AI and human input is crucial for maintaining high levels of service and engagement.
Embracing the change of adapting to AI
Finally, both Lacy and David emphasized the importance of staying open-minded and adaptable as AI continues to advance. Lacy encouraged those in the multifamily industry to embrace AI as a tool for innovation and improvement, even if it comes with some initial challenges. The technology’s ability to offer personalized assistance and streamlined operations can set a property apart from its competitors.
David echoed this sentiment, highlighting the rapid pace of AI advancements and its potential to provide unparalleled expertise and efficiency. He noted that the ability to access a vast body of knowledge through AI and apply it in real-time is a game-changer for the industry. As AI tools become increasingly sophisticated, their capacity to enhance every aspect of property management will only grow.
AI presents a transformative opportunity for the multifamily industry, offering solutions that optimize staffing, enhance resident engagement, and improve operational efficiency. By starting with accessible tools and refining their use, property managers can embrace the technology’s potential and stay ahead in an increasingly connected and tech-driven world.
For more insights on leveraging AI in multifamily communities, listen to the full conversation in this episode of Open Door by Cox Communities, AI After Hours: Unlocking Tech’s Off The Clock Potential.
(Disclaimer: The author is contracted separately to host this multifamily tech-focused podcast, and it is not related to Broadband Communities. For the dedicated Broadband Communities podcast, you can find all episodes on our Podcast page.)
Valerie M. Sargent is a multifamily speaker, trainer and executive consultant, and is the multifamily news correspondent for Broadband Communities. Contact her at http://www.valeriemsargent.com. For more information, visit http://www.bbcmag.com.
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