But is it really worth all the hype for multifamily? Well, it depends on the kind of AI you’re talking about.
We’re not talking about a generic ChatGPT-enabled website chatbot. Pshh. That’s childsplay. If you want to truly unlock the power of AI in the multifamily industry, you need more.
We’re talking about real artificial intelligence with years of industry-specific knowledge, combined with automation power to collect, analyze, and predict prospect and resident behaviors and interest.
Respage has been setting the stage for multifamily AI and automation since we introduced the industry’s first conversational AI chatbot in 2017. And we’re not slowing down anytime soon.
Here’s how we’re using AI to streamline marketing and operations (that you probably haven’t thought of):
1. AI social media posts
If you’ve been on Twitter recently (err..now X) you’ve probably had a traumatic experience with an AI bot on social media.
This is not that (thankfully).
Social media management is a time consuming process and many onsite teams don’t have the time (or maybe even the creativity) to come up with social media posts on the fly. And that’s where AI comes in.
While ResMate AI leasing assistant chats with prospects, it collects conversation data on interests, frequently asked questions, and popular amenities to later turn into social media drafts.
Once ResMate learns enough about a community, it compiles the most important topics and drafts weekly social media posts based on prospect interest. But don’t worry, nothing is posted without permission. Teams can review, edit, and adjust the content as needed, and schedule them to post through the Respage social media platform.
By automating content creation with the knowledge from AI, properties can generate an entire social media strategy tailored specifically to their prospects, done entirely with AI.
Tip: Our integrated Social Media Calendar can help keep your social strategy on track.
2. AI Review Response
Review monitoring and response is an essential part of reputation management. But boy, is it tedious. Is the response too harsh? Does it lack empathy? Is it in line with the property brand and tone? Not to mention the time it takes to draft responses.
But with AI Review Response generative AI drafts a custom response for your property, crafted based on the most recent approved review, along with a short prompt to create the perfect response. From there, users can modify the response to their liking, and even customize the context the AI will refer to when writing the responses, including tone, and other details specific to the property.
3. Resident Happiness Score
Now that we’ve warmed you up to some of the things AI can do, let’s take it up a notch.
Imagine being able to accurately predict whether or not residents were going to renew their leases. With the right AI, you can. The key is having a platform of solutions that can communicate and relay data for the AI to learn and analyze.
For example, the Smart Leasing Platform CRM can collect data from across the Respage platform to analyze a resident’s journey to predict lease renewal outcomes. With access to resident data including survey responses, amenity usage, reviews, and communications, it can predict whether or not a resident will renew their lease with 78% accuracy.
This information can serve as an important tool for resident retention and valuable insight on your community happiness.
4. AI Review Share
Getting a good review is certainly something to celebrate, so why not automatically share it with your social media followers? AI Review Share will automatically draft AI-generated social media graphics to celebrate four and five star reviews.
AI Review Share generates extra social media content for your team and can also help your community reputation. By actively celebrating positive reviews, residents may be more inclined to submit a positive review themselves (especially if you have our Review Booster).
5. Automated waitlist
An accurate prospect waitlist is a good resource to have, but maintaining it can be a pain. But with AI, waitlists can be managed and automated without human intervention, ensuring your team has a hot list of prospects if/when unexpected vacancies occur.
If a prospect inquires about a floorplan that is not currently available, ResMate will ask if they would like to be notified when a vacancy becomes available. As soon as something opens up, ResMate will automatically contact the prospect and will encourage them to submit an application. ResMate will also periodically check in to ensure prospects are still interested so the waitlist stays up-to-date.
Automated waitlists can help reduce time between leases and can help your property get closer to 100% occupied.
Platform AI packs a punch 🥊
We’ll fill you in on a little secret. Without an all-in-one platform, many of our AI tools would not be possible.
For us, the secret isn’t our AI (though it helps) or our point solutions (also helpful). The secret is creating one AI leasing and marketing platform to unlock the best of multifamily AI innovations.
Interested in learning more about how an all-in-one platform can help transform your marketing, leasing, and operations? Check out this blog for more: Why an all-in-one marketing and AI leasing platform is the future of multifamily.