How Are Property Managers Using A.I.?

The Five Key Takeaways from This Article

• Property managers are increasingly finding more and more interesting applications for A.I. across their properties. 
• Predictive analytics can identify when certain machines (e.g., A.C. units) may need maintenance, repair, or replacement. 
• A.I. phone systems can improve efficiency in streamlining the handling of incoming calls from residents and others. 
• Generative A.I. has many uses for creating and/or editing text, audio, or visual materials that property managers may need. 
• Managing properties using A.I. should always look for assistance from A.I., rather than authoritative guidance. 

Property Managers Use A.I. for Many Reasons

Managing a property like an apartment complex or an office building can come with many challenges that make the rewards of property management hard-earned. 

One of these involves the incoming stream of customer complaints about, well, anything and everything.

Some grievances may be legitimate (e.g., a violation of the lease by or on behalf of the landlord) or illegitimate (e.g., a tenant wanting to change the color of a wall’s paint in a rented room just because it would look better, to the tenant.)

Another common headache is the breakdown of any of the many machines that make part of or the whole property inhabitable. Think of something like an AC unit breaking down in the middle of an especially hot and humid summer. 

And yet another is writing emails to both potential and existing tenants, creating visual content to show off the property, and the like to keep the business afloat. 

Luckily, A.I. can swoop in and assist a property manager with all three of these concerns. Below, we cover just how property managers are using A.I. 

Use #1: Handling Communications Related to the Property

So many property managers use A.I. customer service solutions because, well, certain kinds of properties, such as apartment buildings, tend to get a high influx of calls. 

For that reason, an A.I. phone service that will answer the calls and route them to relevant parties could be welcome. How this would work is that the A.I. will answer the phone, figure out the caller’s reason for calling, then identify who needs to answer the call. 

For instance, if it is the maintenance team that needs to answer a call about a broken sink, then the A.I. will route the call to the appropriate maintenance team member. 

If the caller is a prospective resident looking to schedule a showing, then the A.I. can connect the caller to a member of the property’s office staff, who will take things from there. 

Or if the property manager prefers to keep the call-answering relegated to live customer service representatives, or even staff at the property itself, then an A.I. voicemail service can filter through unanswered calls and answering-machine messages to notify the relevant parties of missed calls, some of which may be profitable leads. 

We mentioned maintenance problems in this section, which serves as a nice segue into our next section, which is about predictive analytics applied to physical machines and equipment. 

Use #2: Predictive Maintenance for a Property’s Machines

Any property manager knows that the list of things that are considered to be “essential” to a resident is ever-expanding. 

Relative to the scope of human history, an AC unit is a decidedly recent invention. However, for many residents, an apartment without AC can be a dealbreaker right off the bat.

And an improperly functioning AC unit can be the motivation for a broken lease, or no renewal. Ditto an AC unit that breaks and that the maintenance staff does not duly repair or replace in a timely manner.

One of the more notable uses for A.I. in property management is predictive maintenance. 

This kind of A.I. can analyze the performance of machines like AC units or generators.

The A.I. will notify the property manager of ideal times to do maintenance work on the machines. 

In addition to helping identify the best time to schedule service, predictive maintenance A.I. can even offer good predictions for when a machine may break down and need repair or even replacement. 

Use #3: Generative A.I.

As indicated in the section about A.I. phone services, communication is a big part of property management. 

And a reality of the business is that you will need to consistently handle incoming communications, such as answering emails. 

Here is where generative A.I. can help. 

You can copy and paste an email into ChatGPT and have it draft you a reply. (Be sure to proofread and edit these drafts before sending.) 

This can be an easy way to streamline personalized communications with tenants. 

Another use is the creation of things like brochures that offer a detailed rundown of the kinds of spaces that you have available, such as studios and 2-bedroom apartments.