Artificial intelligence tools for commercial real estate are already here, and they are disrupting apartment leasing. AppFolio's new digital leasing assistant Lisa, is one example of what is possible through AI tools. The assistant is able to take a tenant through the early stages of apartment leasing, answering questions and carrying on conversations in real time. For brokers and property owners going through lease up, the benefits are substantial.

“Artificial intelligence is taking away the manual work that goes into some of the very first steps of the leasing process,” Elliott Burris, VP at property management software company AppFolio, tells GlobeSt.com. “Every single query gets answered by Lisa and, through conversational AI, Lisa can have a full-text conversation with a prospect about their query, answering questions about the property and unit, as well as vetting prospects to make sure they meet all requirements.”

The biggest benefit is that the assistant is able to answer questions and react to potential tenants in the same way that a person could. “Lisa asks specific questions of prospects to learn more information about them,” says Burris. “The immediacy of responses that Lisa provides helps meet prospect expectations and gives time back to leasing agents and property management businesses to focus more on business strategy.”