Love or Lust: What to Look for in an AI Leasing Agent

There are so many multifamily chatbots in the proptech sea—how do I know what’s right for me?
February 24, 2021
Tech

AI for the Multifamily Industry  

There are so many reasons to love having an AI leasing agent for your multifamily properties. Unlike the human members of your leasing team, a leasing agent powered by Artificial Intelligence (AI) can connect with rental prospects 24/7 and doesn’t need sleep or coffee to do its job exceptionally well. Plus, your human leasing team will love having an AI-powered coworker to handle the busywork for them—like answering common leasing questions, collecting guest cards, and scheduling tours.  

But is it love or just lust?

Avoid the heartbreak later. Don’t be fooled by basic menu-based chatbots that claim to be AI leasing agents. For a truly robust solution that you’ll love, look for these three features.

What to Look for in an AI Leasing Agent

1.  Natural Language Processing (NLP)

Your rental prospects all have a unique voice—literally. They will speak in different accents, tones, and use their own choice of vocabulary when communicating with your property. It’s important to let them use their voice and ask questions in their own words. By doing so, your prospects get the answers they need faster, you are able to track their exact needs, your leasing team is able to personalize their follow-up activities, and much more.  

This is why NLP is such an important feature of an AI leasing agent. NLP allows your prospects to have freeform conversations without limiting them to a simple menu of options in order to guide the conversation. So, what should you look for to avoid heart break later? An AI leasing agent that has the best of both worlds—Natural Language Processing and buttons within the chatbot experience to help guide the conversation.

2.  Omni-Channel: Chat, Text, and Phone Calls

Speaking of NLP, that brings us to the next feature that you should look for—an omni-channel experience. When your AI leasing agent has NLP, it opens the door to new communication channels such as:

  • Phone calls
  • Voice commands
  • Text messaging
  • Email Capabilities

Any bot that does not have NLP will never be able to provide your rental prospects with an omni-channel experience.  

Just like how your prospects have a unique voice, they also have unique preferences for communicating with your property. Some may like to chat on your property website, while others may want to pick up the phone to call or text you. Your AI leasing agent should be prepared to answer and provide a consistent experience, no matter the channel.  

Check out the data from December 2020, for the properties that used ACE™ Virtual Leasing Assistant. The majority of their handled conversations by ACE were actually phone calls (67%), followed by chat (32%) and text messages (1%). Don’t get lusty over basic chatbots that are tied to your property website. Meet the demands of your rental prospects by using an AI leasing agent that supports an omni-channel experience via phone calls, chat, and text for your properties.

3.  Chat from Anywhere—Not Just Your Property Website

Traditionally, a chatbot is installed on a property website using a little snippet of code. However, most renters (72%) use 3rd-party listing sites, like Apartments.com or Zillow when searching for an apartment according to a study conducted by NMHC / Kingsley Associates. So, a true AI leasing agent should have the ability to chat with prospects on the websites they use the most—not just your property website.

When shopping for your AI leasing agent, look for one that has the ability to be added and shared on any website via its own unique URL. This allows you to place your chatbot virtually anywhere that a link can be placed. When prospects click on the link, a new browser window appears where they are able to instantly chat, get answers to their common leasing questions, and schedule a tour. Then, once their conversation is over, the leads are funneled to your leasing team, so they can do what they do best—close the lease! Check out this blog article for more information about adding a chatbot to Google, Yelp, and more.

Choosing a chatbot with these three features, we know you’ll be in love—and not just lust—with your new AI leasing agent.

Learn More

Ready to see LeaseHawk in action?

Fill out this form to learn more.

Related Posts

Tech

LeaseHawk’s ACE Takes the Lead on Virtual Leasing Assistants

LeaseHawk’s ACE is the industry leader in this evolving virtual leasing assistant technology, as one of the first to make NLP a reality for its clients. NLP-enabled chatbots create prospect interactions that are more valuable to rental prospects and leasing professionals than other systems.

January 29, 2018
Tech

5 Things ACE Has Taught Us About Your Renters

ACE™ Virtual Leasing Assistant is diligently working at hundreds of communities across the country to engage with prospects 24/7. From the millions of interactions that ACE has handled, we have learned a lot about your prospective renters—so, we thought we would share!

January 29, 2018
Tech

The Most Human AI for Multifamily

Bots that use conversational AI provide the most human-like interactions for your rental prospects. Learn how you can leverage this technology to maximize your ad source spend, increase your rental income, and boost onsite productivity.

January 29, 2018
Events

NAA Apartmentalize: 5 Mind-Blowing Stats and Takeaways

This year, thousands of multifamily professionals enthusiastically welcomed the return of Apartmentalize powered by NAA. There was a lot of knowledge to absorb in just three days. Read on for our key takeaways and stats taken from the event that we think every multifamily professional should know.

September 3, 2021
News

PropTech Security: LeaseHawk Earns SOC 2 Certification

At LeaseHawk, we strive to give our clients the most enjoyable and secure experience possible. Our SOC 2 Type 1 Compliance Certification is an achievement that confirms our commitment to ensuring the security of your data and privacy.

August 31, 2021
News

LeaseHawk’s ACE Proves to be the Prospect-Generator PMA Needed

Internet Listing Services drive hundreds of leads to community websites. But, once prospects are there, it can be difficult to find the information they need. Discover how Property Management Associates (PMA) turned to a robust technology solution, LeaseHawk’s ACE, as a cost-effective solution.

August 25, 2021

Join Our Newsletter

Get the latest multifamily news, how-to's, infographics and more delivered right to your inbox.