The more mundane tasks AI can handle include digital leasing for prospective tenants and automating maintenance requests, two major time consumers for property managers. Digital leasing agents can help property managers communicate with potential tenants and automatically book tours. “AI enables property managers to give their prospective tenants human-like interactions during the very early steps of the “apartment hunt” process, leaving property managers with more time to attend the showings, which gives them a greater edge in securing a new tenant and a signed lease,” says Kunes.

In terms of maintenance, AI has significant benefits. “AI also automates initial stages of maintenance,” says Kunes. “This allows tenants to simply text a chatbot about an issue, and artificial intelligence not only creates the work order for the property management team but also keeps the tenant informed at all stages of the maintenance process. This lets property managers focus on getting the problem solved instead of spending time with back and forth communications with the tenant and drafting up a work orders, saving a tremendous amount of time.”

Of course, AI technology is still emerging and in the future, it can have significant benefits for property managers. For companies that adopt these tools early and higher talent that is fluent in these technologies, there is a major payoff. “AI will eventually serve to be a better communicator with tenants, moving away from one-note chatbots to more “human” augmentation, keeping tenants engaged and happy and giving property managers an opportunity to focus on acquiring more tenants or growing their business in other ways,” says Kunes. “Even maintenance will work differently, one day, with AI taking on more than just communications and work order forms.”