Using AI to Multifamily’s Advantage
Are you using artificial intelligence as much as you could be?
I’ll admit it: I was anti-AI for a long time.
“Do people need their stuff written by a robot?” I’d grumble as people started using ChatGPT more and more. “Can’t people think for themselves?” (Basically, the modern version of telling people I used to walk to school uphill both ways or yelling at young’uns to get off my lawn.)
I think the cause of my reluctance to use AI was a mix of being worried about losing my writing job, misinformation from pop culture and a healthy dash of fear of the unknown.
Of course, I’ve come around. I now use AI features for search results and administrative tasks that I don’t really feel like doing myself, among other things. I even used it recently to help plan my vacation. Why should I spend hours researching different restaurants, when AI—in seconds—can make the same recommendations? Why work harder when you can work smarter?
And even though the multifamily industry is notorious for being slow to adapt to trends, this is an area where operators are ready to give it a try. AI can help with marketing and leasing, getting resident insights and even with fraud prevention, as detailed by reporter Robyn Friedman in “AI Managed, Manager Approved.”
When it comes to helping customer relationship management, AI can be particularly useful. For example, it can schedule property tours, taking some of the workload off the leasing agent and allowing them to focus on giving the tour.
“It has been a complete gamechanger,” Rachel Blanchard of The Breeden Co. told Friedman. “It’s taken away all of our manual data entry for incoming leads, so every lead that comes in is automatically contacted by AI, prescreened and then entered onto guest cards.”
Now that can make our lives easier!
Where else can AI help the multifamily industry? Find out more insights in Friedman’s article in this issue. And feel free to reach out to me at jessica.fiur@cpe-mhn.com with more ways to use it (you can even use AI to write that email!).
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