AI Apartment Leasing in 2024

For multifamily properties, the new year can bring a fresh perspective on operational efficiency. And it’s no surprise that many of those perspectives delve into the transformative possibilities of utilizing Artificial Intelligence (AI). According to a Forbes Advisor Survey, a significant 64% of businesses believe that AI will help increase their overall productivity—demonstrating the growing confidence in AI’s potential to transform business operations in 2024.

How can AI be used for your multifamily properties? Here are three ways AI can redefine your approach, elevate resident experiences, and streamline operations for multifamily success.

‍

1. Strategic Staffing Augmentation - Address staffing challenges with an AI virtual leasing assistant, such as ACE™ from LeaseHawk. Through real-time, AI-driven responses, ACE becomes a pivotal component in ensuring seamless operations round the clock. With ACE at the helm, UDR, a diversified multifamily REIT with approximately 52,600 apartment homes, has increased its tour volume, conducting 40+ self-guided tours per day while employing only a fraction of office personnel.

‍

2. Consistency in Renter Retention - AI offers a consistent and reliable experience, a key element in fostering renter satisfaction and loyalty. ACE’s automatic and personalized nurturing ensures every renter in your CRM is engaged and ready to take the next step in their customer journey—including lease renewals.

‍

3. Voice Technology for Enhanced Interactions - According to LeaseHawk data, over half of the inbound communications received by properties are phone calls. ACE answers calls 24/7, so you can capture every leasing opportunity. Plus, ACE uses the latest cutting-edge voices with human-like intonation that is not only delightful to talk to but is also persuasive and conversational. In 2023, ACE converted 31% of prospects to book a tour.

Charting New Frontiers: ACE™ Features to Supercharge Your Multifamily Leasing Strategy

New advances in AI are happening every day—including here at LeaseHawk. Here are five of ACE’s newest features that are sure to make a big impact in 2024 for your operational efficiency and bottom-line:

Lead Recapture: Strategic Prospect Engagement

ACE can strategically retain leads by re-engaging with disconnected callers and gathering valuable prospect data.

New Voices: Humanistic Intonation Amplified

ACE uses the latest in voice technology for an immersive renter experience that is pleasant to interact with and strongly converts. Listen to the video below to experience it for yourself.

‍

Revenue Management Integrations

ACE seamlessly integrates with revenue management solutions, so your prospects can access real-time pricing and availability in a visually stunning and informational chat experience.

‍

‍

Work Orders for Residents: Streamlining Maintenance Requests

ACE streamlines maintenance requests by capturing essential details and fostering efficient communication between property managers and residents.

‍

Interactive Chat Experiences: Elevating Renter Engagement

Google Maps work seamlessly with ACE's chat responses, presenting visually engaging "Things Nearby" information to captivate prospective renters through AI-enhanced interactions.

Shaping Multifamily Futures with ACE™

In 2024, envision the transformative potential of AI in reshaping your multifamily properties. Let our team show you how ACE™ Virtual Leasing Assistant can propel your multifamily success by optimizing operations, alleviating staffing challenges, and enhancing renter experiences—schedule your personalized demo here.