2021 brought continued challenges to the multifamily industry. Despite missed calls on the rise, staffing gaps, and budget constraints, properties with LeaseHawk persevered—and we have the numbers to prove it.
Read on to see how LeaseHawk captured every qualified prospect for our clients and grew their bottom line.
For 10 years, LeaseHawk has tracked and recorded calls for the multifamily industry. In 2021, the total surpassed eight million calls for the industry. But we didn’t stop there. Our AI-powered lead analysis identified that two million of these calls were prospects. The transcriptions of these calls are used to continuously train our AI models, so they get smarter over time. That’s the good news. Ready for the bad news?
49% of those calls were missed in 2021.
We witnessed the industry miss nearly half of all the calls received in the past year. What was the culprit for causing so many missed calls? According to Brent Bunger, Executive Vice President at Adara, “There is shortage of leasing professionals compared to the demand needed from the never-ending supply of newly developed properties.” And we must agree. Staffing constraints have many multifamily owners and management companies feeling the pressure as it becomes increasingly difficult to hire new on-site leasing professionals.
Leasing teams were understaffed and overwhelmed; but there was one solution ready to help. ACE is the industry’s only AI-powered leasing assistant that can answer phone calls, text messages, and web chats. Plus, with a setup time in as little as 24 hours for new clients and properties, it was the go-to solution to fill leasing staffing gaps.
ACE saved leasing teams countless hours by filtering the noise to provide the most qualified leads, so they could focus on what they do best—leasing! In fact, 1 out of 5 conversations handled by ACE resulted in a guest card. And 9 out of 10 web chats with prospects resulted in a tour.
ACE’s #1 communication channel in 2021 was phone calls. With 58% of conversations handled by ACE over the phone, followed by web chat and text messages.
If 2021 was all about the prospect, then 2022 is all about the resident. Get your insider demo to see what we’re planning for the next year and how you can fill your staffing gaps NOW. Click here to schedule your ACE Virtual Leasing Assistant demo today.
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UDR has seen significant cost savings and increased prospect conversions since implementing ACE™ Virtual Leasing Assistant from LeaseHawk. According to Scott Wesson, UDR’s Chief Digital Officer, “By implementing ACE, UDR is on track to reducing its operating expense for managing calls by 65%.”
LeaseHawk announces a new, higher level of artificial intelligence-driven technology to ACE, its cutting-edge virtual leasing assistant. ACE can now automatically nurture highly qualified apartment leads and residents to increase leasing velocity.
LeaseHawk officially ‘hatched’ 10 years ago! Over the last decade, we tracked and recorded over 111M calls, witnessed nearly half of calls missed by leasing offices, and identified 26M prospects for management companies. Find out what our ten-year’s worth of data says about the multifamily industry.
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