AI-driven technologies and automation will help associates cut down on surface-level interactions for greater efficiency in lend-to-lease conversion rates.
The rental housing industry is shifting gears to incorporate artificial intellingence (AI) and automation concepts into more than just boosting smart-home technology efforts, according to GlobeSt.
With all that AI and automation have to offer, there is opportunity for them to simplify the research process for prospective residents while also helping recruit and retain high-performance associates.
In a growing industry with an all-time low unemployment rate—less than 4 percent—AI, such as chatbots and intuitive resident and prospective resident portals, can help to create greater overall onsite efficiency.
“The use of chatbots to provide real-time answers to customer questions has been a game-changer,” Brittany Wagner, Senior Software Training Manager for Mill Creek Residential, tells GlobeSt.com. “The evolution of natural language processing has created chatbots that can provide more detailed, thorough answers to prospects rather than scripted responses. In addition, by offering prospects the capability to schedule tours through our community websites, our onsite teams save time and prospects enjoy a more streamlined search experience.”
With technology rapidly shifting, some customers are unsure of AI and other technologies that are out there. However, a survey by property management software provider Entrata shows that many are adaptable to the technological wave.
“Our associates have really embraced the technology,” Wagner tells GlobeSt.com. “We have to offer proper training and expecting something of a learning curve. But by utilizing automation technologies, our team members can create more impactful touch points with customers and residents while saving significant amounts of time by eliminating surface-level communications.”