Intro to Landmark Properties
As a forward-thinking integrated real estate firm, Landmark Properties has constantly sought out new technological solutions to better serve the needs of residents across both their student and conventional communities. This pursuit of differentiated service is reflected both in their historically high occupancy rates, as well as their track record of successfully launching new developments throughout the company’s 20 year history. And with $15 billion of assets under management, including over 115 student and multifamily communities across the country with more than 72,000 student beds under management, the Landmark Properties team has shown it is capable of delivering these differentiated experiences at scale. But, like many other owner-operators, Landmark hasn’t been immune to operational challenges in a post-pandemic landscape, including difficulties retaining talent and maintaining consistent service levels.
For Vanessa Pacifico Young, SVP of Management Services - Leasing & Marketing at Landmark Properties, these post-pandemic challenges represented the perfect opportunity to test the capabilities of artificial intelligence, particularly in critical areas like leasing follow-ups and delinquency management. In 2024, Vanessa and her team started looking for an AI vendor who could “work alongside Landmark to streamline [their] processes and improve operational efficiency,” with a particular focus on finding a partner who would be “genuinely invested in understanding Landmark’s unique challenges and developing customized solutions.” Fortunately, the Landmark Properties team found a partner in EliseAI, a leading vendor of AI and automation solutions designed for the property management industry.
Enter EliseAI
Multifamily owners and operators deploy EliseAI's automation-enablement platform to unlock operational efficiencies and deliver enhanced renter experiences. The EliseAI product suite delivers value at every stage of the renter lifecycle, from initial inquiry to renewals and move-outs, enabling owners and operators to better manage their leads, improve conversion rates, and reduce employee burnout by leveraging the power of conversational AI. More than 400 owners and operators leverage EliseAI to help manage millions of units across all asset types and classes, including student, single-family, and affordable.
Setting the Stage for the Landmark Properties and EliseAI Partnership
Vanessa and the Landmark Properties team recognized that staffing inconsistencies were resulting in inconsistent experiences for both residents and prospects, and knew there had to be a better way to manage tedious leasing follow-ups and delinquency conversations. They opted to bring on EliseAI’s ResidentAI and LeasingAI products to reduce their delinquency rate, improve their lead nurturing, and automate routine conversations, giving their agents more time “to focus on higher-value activities, such as building stronger resident relationships and providing exceptional customer service.”
The response from both their onsite teams and residents to ResidentAI was incredibly positive, paving the way for further deployment of AI across Landmark Properties’ portfolio. Today, the Landmark team uses EliseAI’s LeasingAI, ResidentAI, and VoiceAI products across 90 of their communities, with plans to introduce EliseAI’s Renewals product in early 2025. For the Landmark team, having conversational AI and increased automation as an integral part of every step of the resident journey has given their agents time back to foster meaningful relationships with residents while injecting the responsiveness and consistency that differentiates them from competitors.
Measuring the Impact and ROI of AI for Landmark Properties
Beyond the holistic improvements to response times, resident satisfaction, and onsite team happiness, implementing EliseAI’s products has driven significant ROI and measurable performance improvement for Landmark Properties. Since implementing ResidentAI in 2023 to improve their collection workflow, Landmark Properties has seen a 60 bps reduction in delinquency rates across their portfolio. In 2024, Landmark's AI assistant helped convert 8,338 new leases, including 3,182 leases from after-hours inquiries, with a 15% lead-to-lease conversion rate -- powered by 24/7 lead nurturing and prompt follow-up nudges.
EliseAI’s products have also resulted in substantial time savings for the Landmark Properties team. Since rolling out ResidentAI in late 2023, Landmark’s AI has sent over 1.1 million messages to residents and prospects alike, saving almost 75,000 hours for their human team members who typically spend approximately 4 minutes to send an email or draft a text message. VoiceAI has also answered over 100,000 calls for the Landmark Properties team, saving another 9,000 hours for Landmark. Finally, in 2024, MaintenanceAI created 9,760 work orders through conversations with residents, adding consistency to the Landmark Properties maintenance team’s day-to-day through standardization of work order categorization. Through this combination of time savings and hard ROI metrics, Landmark has successfully leveraged EliseAI’s conversational AI products and automation platform to improve the financial performance of their assets.
Why Landmark Chose EliseAI Over Other AI Providers
For Vanessa and the Landmark Properties team, choosing an AI was more than just picking the software they liked best. They opted for a holistic approach that prioritized finding “a partner who could not only provide AI technology but also collaborate with [Landmark] on innovative solutions for [their] specific needs.” Landmark found a perfect partner in EliseAI, and has leveraged the relationship to deliver actionable insights and feedback to the EliseAI team to inform development of future products. With EliseAI’s attitude of “collaboration and innovation that resonated strongly with [the Landmark] team,” the partnership between these two forward-thinking companies has the potential to continue redefining the way communities are managed.
For other operators who are unsure about deploying AI at their communities, Vanessa would “encourage them to embrace AI as a strategic opportunity, not just a technological novelty.” With AI stepping in to automate the tedious parts of an agent’s job, team members “can instead focus on building stronger relationships with residents, fostering a sense of community, and truly making a difference in people's lives.” Fortunately, other integrated real estate companies can look to an organization like Landmark Properties for proof that AI can drive significant improvements to operational efficiency and financial performance.
Enter EliseAI
Multifamily owners and operators deploy EliseAI's automation-enablement platform to unlock operational efficiencies and deliver enhanced renter experiences. The EliseAI product suite delivers value at every stage of the renter lifecycle, from initial inquiry to renewals and move-outs, enabling owners and operators to better manage their leads, improve conversion rates, and reduce employee burnout by leveraging the power of conversational AI. More than 400 owners and operators leverage EliseAI to help manage millions of units across all asset types and classes, including student, single-family, and affordable.
Setting the Stage for the Landmark Properties and EliseAI Partnership
Vanessa and the Landmark Properties team recognized that staffing inconsistencies were resulting in inconsistent experiences for both residents and prospects, and knew there had to be a better way to manage tedious leasing follow-ups and delinquency conversations. They opted to bring on EliseAI’s ResidentAI and LeasingAI products to reduce their delinquency rate, improve their lead nurturing, and automate routine conversations, giving their agents more time “to focus on higher-value activities, such as building stronger resident relationships and providing exceptional customer service.”
The response from both their onsite teams and residents to ResidentAI was incredibly positive, paving the way for further deployment of AI across Landmark Properties’ portfolio. Today, the Landmark team uses EliseAI’s LeasingAI, ResidentAI, and VoiceAI products across 90 of their communities, with plans to introduce EliseAI’s Renewals product in early 2025. For the Landmark team, having conversational AI and increased automation as an integral part of every step of the resident journey has given their agents time back to foster meaningful relationships with residents while injecting the responsiveness and consistency that differentiates them from competitors.
Measuring the Impact and ROI of AI for Landmark Properties
Beyond the holistic improvements to response times, resident satisfaction, and onsite team happiness, implementing EliseAI’s products has driven significant ROI and measurable performance improvement for Landmark Properties. Since implementing ResidentAI in 2023 to improve their collection workflow, Landmark Properties has seen a 60 bps reduction in delinquency rates across their portfolio. In 2024, Landmark's AI assistant helped convert 8,338 new leases, including 3,182 leases from after-hours inquiries, with a 15% lead-to-lease conversion rate -- powered by 24/7 lead nurturing and prompt follow-up nudges.
EliseAI’s products have also resulted in substantial time savings for the Landmark Properties team. Since rolling out ResidentAI in late 2023, Landmark’s AI has sent over 1.1 million messages to residents and prospects alike, saving almost 75,000 hours for their human team members who typically spend approximately 4 minutes to send an email or draft a text message. VoiceAI has also answered over 100,000 calls for the Landmark Properties team, saving another 9,000 hours for Landmark. Finally, in 2024, MaintenanceAI created 9,760 work orders through conversations with residents, adding consistency to the Landmark Properties maintenance team’s day-to-day through standardization of work order categorization. Through this combination of time savings and hard ROI metrics, Landmark has successfully leveraged EliseAI’s conversational AI products and automation platform to improve the financial performance of their assets.
Why Landmark Chose EliseAI Over Other AI Providers
For Vanessa and the Landmark Properties team, choosing an AI was more than just picking the software they liked best. They opted for a holistic approach that prioritized finding “a partner who could not only provide AI technology but also collaborate with [Landmark] on innovative solutions for [their] specific needs.” Landmark found a perfect partner in EliseAI, and has leveraged the relationship to deliver actionable insights and feedback to the EliseAI team to inform development of future products. With EliseAI’s attitude of “collaboration and innovation that resonated strongly with [the Landmark] team,” the partnership between these two forward-thinking companies has the potential to continue redefining the way communities are managed.
For other operators who are unsure about deploying AI at their communities, Vanessa would “encourage them to embrace AI as a strategic opportunity, not just a technological novelty.” With AI stepping in to automate the tedious parts of an agent’s job, team members “can instead focus on building stronger relationships with residents, fostering a sense of community, and truly making a difference in people's lives.” Fortunately, other integrated real estate companies can look to an organization like Landmark Properties for proof that AI can drive significant improvements to operational efficiency and financial performance.