How Will Artificial Intelligence Shape Property Management?
Special Release: Our April units cover story, deals specifically with artifical intelligence in property management. The story below is digested from Forbes, which also emphasizes AI.
With the growth of the multifamily industry over the last 10 years, property management services are in more demand than ever. While the property management industry has not historically been on the bleeding edge of technology adoption, the industry now has a cache of new tools to help simplify operations, writes Omri Barzilay for Forbes.
Property management software solutions for companies large and small are hitting the market with increasing frequency. AppFolio and RealPage are being joined by smaller software companies, such as Buildium and Rentalutions. Cozy recently received millions in funding to help property owners who manage their own apartment communities, and Happy Inspector has mobile apps that help with property inspections.
Now, new property management tech solutions are using artificial intelligence (AI) to assist both property owners/managers and residents. For example, Zenplace uses “an AI-powered service that works using chatbots and through devices like Amazon Alexa and Google Home, which makes it effortless and convenient for tenants to pay rent easily, extend their lease and report issues with the property 24/7,” Barzilay writes.
“We’re innovating every day,” says Rahul Mewawalla, CEO of Zenplace, in the Forbes article. “Property management and the owner and tenant experience is already 3 times better today than it was some years ago, and in another 5 years will be 10 times easier and better than today.”