Tech Trends in Renting: AI-Powered Leasing Assistants
How to improve the leasing experience by leveraging conversational AI assistants.
May 22, 2019
Tech
The demands on the apartment leasing staff are many. A typical day is filled with giving tours, assisting residents, walking the property and so much more. So, it’s not always possible to answer every phone call and connect with every prospective renter.
So, how can leasing teams bridge the connection gap and ensure they don’t keep missing opportunities? Try implementing an AI-powered conversational assistant. What is an AI conversational assistant? Conversational AI refers to the use of messaging apps, speech-based assistants and chatbots to automate communication and create personalized customer experiences. Ever asked Alexa to play a song or Siri to dial a number? If your answer was yes, then you have interacted with an AI-powered conversational assistant. If your answer was no, then it’s just a matter of time: Gartner predicts that AI powered assistants will power 85 percent of all customer service interactions by the year 2020.
The two most common types of conversational assistants are the AI-powered voice assistant and chatbot.
Ever call a business and get a voicemail or answering service? Most people hang up and never leave a message. The truth is, 87 percent of callers will not leave a voicemail. So, what is a property to do when they are out showing apartments, or assisting people and cannot get to the phone? An AI voice assistant is the modern answer. Today’s AI assistants offer an engaging experience by answering callers’ most common leasing questions, like pricing and availability. They even set appointments and collect guest card information. This takes the pressure off the leasing team by ensuring that they do not miss any calls from prospective renters when they are busy, or the leasing office is closed.
Today’s apartment hunters have done their homework online, before they call, by visiting the property website. So, when they call they really want to know if an apartment is available and how much the rent will be. In fact, 67 percent of prospective renters want pricing and availability information.
The AI chatbot is designed to simulate a human conversation with a user often on a website. Think about the profile of today’s renter that we mentioned earlier. Millennials make up the majority of apartment hunters. Chatbots fit right into the experience that they are accustomed to in their personal lives, by offering instant connections to address their needs. They visit a property website and can engage with a chatbot to answer common leasing questions, like availability and pricing. This creates a better renter experience by offering an around the clock engagement tool.
24/7 AI leasing assistants enable properties to meet the needs of today’s renter, while at the same time, support the leasing team by fielding calls and setting appointments when they are unavailable.
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Prospects are seeking instant answers from digital resources to make their rental decisions. However, 73 percent won’t use your chatbot again if their experience ends up being a negative one. Be on the lookout for these chatbot mistakes and learn how you can avoid disappointing your prospects.
The era of automated leasing is upon us. The pandemic created 10 years’ worth of apartment industry technology in about 100 days, some are saying. But the technology with perhaps the greatest penetration – and growing – are virtual leasing assistants.
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