2023: The Year of Artificial Intelligence in the Multifamily Industry

Learn how apartment owners and operators are embracing AI this year with ACE™ Virtual Leasing Assistant.

The Year of Artificial Intelligence

2023 is officially the Year of the Rabbit, but we think it's also the Year of Artificial Intelligence. This year, the multifamily industry is set to make even bigger strides in its understanding and implementation of AI, especially with virtual leasing assistants. In 2022, we saw a significant increase in the adoption of AI technology in the multifamily industry, and this trend is only set to continue in 2023.

One of the most exciting developments in the industry is the emergence of AI-powered Virtual Leasing Assistants, such as LeaseHawk's ACE™. ACE leverages cutting-edge technology that uses artificial intelligence to assist on-site leasing teams and renters in the leasing process. It can conversationally answer questions, collect guests, and schedule both virtual and in-person tours, all without any human intervention.

But ACE is not just a one-trick bot, it comes with a host of new features that will take the multifamily industry by storm.

Here are five of ACE's newest features that are sure to make a big impact in 2023:

1. Intelligent Nurture Automation

Properties receive hundreds of leads each month. ACE takes the burden off leasing teams who are responsible for following up to all those leads—requiring no extra time from leasing team members.

ACE uses intelligent automation to send email and text follow-ups to prospects and residents. ACE learns what is important and meaningful to individual renters, so every communication is personalized to their unique needs. Through these communications, renters are encouraged to take the next step in their rental journey—whether that is to schedule a tour, apply, or renew their lease.

2. Human-like Voice Capabilities

ACE has the latest in AI voice options to choose from, making it even more lifelike and easy to understand. Clients can choose from 16 different voices—including male or female, choice of accent such as American, British, or Australian, speed, and tone.

Take a listen here:

For a leading REIT with over 100 properties using ACE, apartment renters were given the option to speak with a virtual leasing assistant over speaking with a person. In those conversations, ACE converted 45% of callers to a guest card. This is a testament to ACE’s conversational voice skills and the acceptance of AI by today’s apartment renter, as they prefer to interact with a bot rather than wait on hold, hang up, or leave a voicemail.

3. Flexible Chat Modals

With AI as a more generally accepted concept in 2023, prospect expectations when interacting with a chatbot are now higher than ever. Prospects want more than just a link to direct them to a place on your website to find the information themselves. They expect to receive responses that are concise and capable of providing a native experience within their own chat window. With ACE, they can do just that.

Using flexible chat modals, or also known as pop-ups, ACE provides prospects with additional details, photo galleries, virtual tours, applications, third-party apps, and more. This allows the prospect stay engaged without leaving the chat experience. And of course, ACE can provide a link whenever needed too.

4. Omnichannel Reach - Phone, Text, Chat, Email, ILS, Google, and Social

Your property website isn’t the only place where renters want to interact with you. The majority of renters today (72%) use 3rd-party Internet Listing Sites (ILS), such as Apartments.com when searching for an apartment according to a study conducted by NMHC / Kingsley Associates.

ACE is truly the only comprehensive AI solution that engages and nurtures across your entire digital marketing footprint. You can add ACE to your ILS, Google My Business, social media pages, email signatures and auto-replies—the possibilities are almost endless. You can count on ACE to answer your prospects on the communication channel they prefer most.  

ACE interacts with renters in a highly conversational manner through voice, chat, and text to answer common leasing and resident questions, collect guest card information, and set appointments. This level of engagement has reduced the lead-to-lease time by 27% for leading management companies and ensures prospect engagement 24/7.

5. Advanced Property Branding and Customization

ACE’s limitless customization options create engaging and on-brand experiences for renters. Want to give ACE a new name? You can. Want it to speak in a British accent? No problem. Need it to have a specific brand color and chatbot button? You got it.

Beyond the styling, ACE’s core functionality can be customized to your business needs too. With our concept of “ACE Rules” you can implement a library of custom scenarios for how ACE handles prospect requests. For instance, if you prefer ACE to collect a guest card instead of transferring to live human. Or, if your property needs to boost their lead volume, you can set a rule to ensure ACE collects a guest card before providing pricing and availability.

But the future of ACE doesn't stop there. LeaseHawk is constantly working on new features and updates to make ACE even more powerful and beneficial to both prospects and residents. In the coming months, ACE’s newest features will focus on the resident experience, including scheduling and managing work orders and a new reporting experience. This will allow clients to track ACE's performance and impact in real-time, so they can see just how much of a difference ACE is making for their properties.

2023 is shaping up to be the Year of Artificial Intelligence, and ACE is leading the charge. With its cutting-edge technology and new features, ACE is poised to revolutionize the multifamily industry and make leasing easier and more efficient than ever before. We can't wait to show you what the future holds for AI and the multifamily industry. Stay tuned for more exciting updates and features from LeaseHawk.

Want to see a sneak-peek of our upcoming AI enhancements? Drop us a note here to get in touch!

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