The multifamily property management landscape is changing rapidly. Heightened customer expectations, innovative operating models built around centralized teams, and exciting new technology are forcing operators large and small alike to rethink a lot of what they know about conventional property management. One thing that’s becoming increasingly clear (and not just for multifamily, if recent fundraising trends hold true) is that artificial intelligence isn't just a passing trend—it's the real deal, and it’s here to stay.
Today, AI is transforming how property managers run their communities, automating manual processes like lead nurturing and work order generation to increase resident satisfaction and improve NOI. At EliseAI, we've seen firsthand how innovative owners, owner-operators, and fee managers alike are leveraging AI in property management to deliver tangible, measurable results. But what exactly does the future development of AI mean for multifamily professionals? What should every multifamily professional know about AI, and the impact it might have on their day-to-day role over the next few years?
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The Rise of AI in Property Management
Since the beginning of the pandemic consumer behavior patterns have changed drastically. Conditioned by powerful, personalized, on-demand applications like Netflix, Uber, and DoorDash, the modern consumer has come to expect fast, helpful, personalized service at all hours of the day. The multifamily industry, at least in its current configuration, isn’t designed to handle the round-the-clock, “always on” nature of the modern consumer. That’s where AI comes in.
Artificial intelligence is more than just another buzzword at this point. It's a powerful tool that can help property management teams deliver superior resident experiences by automating repetitive, low value parts of the job like reaching out to prospects to confirm they’re actually planning on attending the tour they scheduled. The multifamily industry, traditionally reliant on these high-effort, low-return manual processes, is seeing a wave of operators rapidly adopting AI to improve their operating efficiency and gain a competitive edge over less tech-enabled PMCs. Industry reports highlight significant year-over-year AI adoption rates, forecasting an even more tech-driven future.
Why adopt AI now? Because today’s residents expect immediate responses, seamless living experiences, and efficient, always-on service—demands that the traditional multifamily playbook simply can't keep pace with. AI solutions address these needs directly, helping multifamily operators not just meet these heightened expectations but go above and beyond instead.
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Key Applications of AI in Property Management
We’ve seen a few key use areas for AI in property management, including leasing automation, resident services, maintenance operations, and fraud prevention.
AI in Property Management for Leasing Automation
Leasing is a crucial yet notoriously time-consuming process that, for many operators, is largely manual. That means every tour confirmation email, tour follow up call, and application check-in text message has to be individually drafted and sent by onsite teams. That’s fine when your lead volume is low, but for operators managing thousands of inquiries a day it’s going to be difficult to keep up. That’s where AI in property management comes in.
AI-driven leasing automation, like EliseAI’s conversational LeasingAI product, revolutionizes the leasing process by handling prospective tenant communications around the clock in 30 seconds or less. With real-time responses and personalized experiences, AI converts leads into leases faster and at a higher rate than manual follow-ups alone.
EliseAI’s platform has significantly shortened leasing cycles for over 400 operators across the US, driving increased lead-to-lease conversion rates and allowing leasing teams to focus their attention on high-value activities like conducting tours or helping with move-ins. This translates directly into better NOI, improved resident satisfaction, and increased renewal rates for multifamily operators big and small. And that’s to say nothing of the time savings. For Macey Ellis and the team at TAM Residential, AI has been instrumental in helping their team automate over one million total staffing hours managing prospect communications.
Enhancing Resident Services with AI in Property Management
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Today's residents demand quick and consistent communication at all hours of the day, which strains even the best property management teams and contributes to onsite staff burnout and turnover. AI-driven virtual assistants bridge this gap in the existing property management model, managing inquiries at all hours of the day and resolving common issues instantly without putting undue pressure on the front office.
EliseAI’s ResidentAI product handles thousands of daily interactions, significantly boosting resident satisfaction while simultaneously truncating average work order completion times and driving improved collections performance. By developing AI, property managers see fewer average complaints, higher resident retention rates, and noted improvements to the overall resident experience. AI deployment has become a key level for multifamily operators looking to not only meet but exceed elevated resident expectations, with a track record of successful outcomes.
For veteran property marketer Arthur Kosmider, deploying AI to manage the resident lifecycle, from renewals to maintenance to delinquency, has allowed his team to maintain their brand voice while providing the heightened level of responsiveness residents have come to expect. In Arthur’s words, “EliseAI’s ability to remember resident preferences, past requests, and engagement history will enable a concierge-like experience that enhances satisfaction and retention,” grounding the deployment of AI with a people-first philosophy.
Improved Maintenance Operations with AI in Property Management
High maintenance costs and resident dissatisfaction stemming from maintenance related issues pose constant challenges for multifamily operators. Maintenance issues are often cited in late payment conversations as well, with EliseAI data indicating over 20% of delinquency conversations contain maintenance related issues. Operators need better maintenance triaging and scheduling solutions to reduce negative customer feedback—and fortunately, AI can be the solution yet again.
Operators using EliseAI’s Maintenance Product have reported substantial reductions in emergency repair and emergency call center costs, allowing them to better serve their residents while improving operating efficiency. With AI’s ability to guide residents through their own simple fixes and create standardized work orders more efficiently, operators have new tools at their disposal to deescalate non-emergency situations and improve their technician scheduling. Plus, EliseAI’s new Maintenance App makes it easier than ever for operators to efficiently deploy their techs.
AI-Powered Tenant Screening
Tenant screening, traditionally a lengthy and subjective process that has become all the more relevant due to high fraud rates, becomes significantly more efficient and effective with AI. AI takes fraud review out of the hands of onsite teams by leveraging AI to quickly evaluate tenant financial and identity data, delivering unbiased and reliable results. This accelerates move-in velocity, reduces vacancy loss, and helps operators manage risk more effectively.
EliseAI has empowered multifamily teams to conduct more accurate, unbiased screenings with AI, translating directly into quicker occupancy and better risk management. AI screening solutions ensure that property managers have to spend less time pouring over paperwork and more time delivering improved resident experiences through high-value, in-person interaction.
Overcoming Common Challenges of AI in Property Management
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Despite clear benefits, some multifamily professionals remain hesitant about adopting AI, typically citing concerns about costs, complexity of new workflows for onsite teams, and data security. EliseAI directly addresses these challenges by providing accessible, secure, and cost-effective solutions.
Integration complexity is mitigated by EliseAI’s user-friendly, seamless onboarding process, which allows properties to implement AI solutions with minimum disruption to existing workflows. In addition, EliseAI constantly produces new upskilling content, webinars, and workshops to ensure both onsite and corporate teams know what to expect when it comes to AI and how to capture value from AI solutions. Additionally, EliseAI adheres to the highest data security standards, protecting resident privacy while ensuring full compliance with industry regulations.
Cost concerns are also quickly dispelled when considering ROI. AI implementation significantly reduces operational expenses and enhances existing revenue streams, whether through better collection rates or new tools like Lease Audits that automatically reconcile leases against your ledger to look for missing fees, ensuring any spend on AI far outweighs the initial investment on the tech.
AI in Property Management Success Stories from EliseAI
EliseAI's solutions have consistently delivered measurable outcomes across a variety of asset types, including multifamily, single-family, student, and affordable. Consider, for example, the case of the Scion Group. By implementing the full suite of EliseAI’s leasing and resident services product, the Scion Group…
- Automated over 4,000 hours of staff work
- Saved over $1M in call center costs
- Improved resident retention rates and leasing performance
Summit Property Management also saw a significant positive impact across their 10,000+ multifamily units after deploying EliseAI’s full suite of products, including…
- Improved lead-to-lease rates to 6%
- 34% of emergency maintenance called deescalated by AI
- Over $3M in AI-driven collections
These real-world outcomes underscore the transformative potential of AI in property management, with every aspect of the existing property management workflow standing to benefit from further AI deployment.
Implementing AI in Property Management for Future Success
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For multifamily professionals considering AI adoption, taking the plunge and deploying innovative new technology can be scary. That’s why it’s crucial to partner with an AI vendor that prioritizes smooth implementation and best in class customer support. Successful implementation begins with evaluating AI platforms for scalability, ease of integration, comprehensive support, and proven results. EliseAI excels across these key criteria, making it the optimal choice for multifamily properties aiming to future-proof their operations. There’s a reason why multifamily leaders from companies like Olympus Property Management, Summit Property Management, Pennrose, and Trinity Property Consultants have all spoken so highly of EliseAI’s support.
Begin by identifying the most impactful areas for automation within your property management operations, then partner with a trusted AI provider like EliseAI to pilot solutions that demonstrate clear ROI. EliseAI’s experienced team guides multifamily operators every step of the way, ensuring a seamless and impactful transition.
Getting Started with AI in Property Management
Artificial intelligence is here, and it isn’t going anywhere. Already, innovative operators like the Scion Group, Summit Property Management, and Equity Residential are using AI to lower staffing costs, improve their prospect and resident journeys, and improve NOI. Looking to replicate their success? EliseAI is here to help. We are committed to developing best-in-class AI and automation technology for the multifamily industry, delivering powerful, proven AI solutions to create efficiencies that can work to lower the cost of living.
Ready to see firsthand how AI can redefine your property management strategy? Get in touch with us today to find out more.