January 21, 2021

5 Reasons Why Your Apartment Community Needs an A.I. Leasing Agent

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If you could have a leasing agent on your team who is happy to work long hours, very organized, always upbeat, will go out of their way to be helpful, and never misses a prospect, you’d probably hire them, right?

Thanks to rapid advancements in artificial intelligence, virtual leasing agents like this are becoming more prevalent in apartment communities across the country. The most effective A.I. leasing agents are capable of automated follow-up throughout the renter’s journey, from the initial contact to the signing of the lease.

Multifamily is competitive, and the communities that offer prospective residents a quick, hassle-free leasing experience will have an edge. In addition, members of Generation Z — the most tech-savvy generation to date — are starting to enter the multifamily housing market, and they expect immediate responses to their leasing inquiries.

Unlike chatbots, which live on apartment websites and provide general support to prospects, an A.I. leasing agent specializes in lead management. It focuses on people who’ve shown interest in the community and nurtures the relationship throughout the leasing process.

Technology holds the key to a successful leasing experience, and communities that embrace it will come out ahead. In this post, we’ll explore the top reasons why your apartment community needs an A.I. leasing agent.

The Gen Z factor

Born in 1996 and later, members of Gen Z are renting their first apartments, or they’re about to within the next few years. In a survey from 2020, 62% of Gen Z renters said technology is extremely important in their apartment and community, and they even expect tech to be part of the apartment leasing process. This generation of digital natives never experienced a time without the internet and grew up using social media and smartphones. They look for instant responses to their questions, and an A.I. leasing agent would be able to fulfill their expectations.

The COVID-19 factor

The global pandemic is continuing to spread throughout the U.S., which is affecting staffing levels at apartment communities. Apartment leasing agents recognize the importance of nurturing leads throughout the leasing process, but in many cases the necessary follow-up isn’t happening as consistently as it should be either due to the pandemic or other staffing issues. An A.I. leasing agent can change that. It can answer questions about availability, describe floor plans, schedule tours/set appointments, send applications, send reminders and follow-up with prospects regularly.

You can beat the competition

As everyone knows, the competition in Multifamily is intense. Prospects have many options, and the community that has a robust customer service program will stand out from the crowd. It can be a challenge to compete with artificial intelligence, so communities that have an A.I. leasing agent will raise the bar for other communities in the area.

It can give your online reputation a boost

Apartment hunting is stressful, and communities that can make things easier by responding quickly to inquiries and offering a seamless leasing process will inevitably be rewarded with more positive online reviews. And, communities that take a bit longer to respond to prospects or that miss or forget to respond to prospects may need to take steps to improve their ratings. If you give consistently good customer service and encourage residents to leave positive reviews, your community will come out ahead.

It can free up staffers’ time and increase productivity

It’s time-consuming to follow up with prospects, but an A.I. leasing agent doesn’t mind. It can send automated reminders via text or email throughout the rental process as well as answer prospects’ questions without human help. So, not only can an A.I. leasing agent help to keep a community fully occupied, it can also contribute to the community’s online reputation by providing helpful customer service during the leasing process. Leaving these tasks to an A.I. agent means humans can focus on work that requires a human touch.

Conclusion

Multifamily is a hectic business, and like 2020 has shown us, we can’t predict the future. An A.I. leasing agent can step in and take the burden of following up with prospective renters off the plates of overworked staffers, which has the ripple effect of improving overall customer service. As a result, a community’s online reputation could soar and ultimately improve the bottom line. Respage has a brand new A.I. leasing agent in the works that will seamlessly step in to assist human leasing agents. Contact Respage to learn more!

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