{"id":225646,"date":"2025-05-05T23:20:31","date_gmt":"2025-05-05T23:20:31","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/reimagining-the-future-of-work-3-ways-property-management-teams-benefit-from-ai\/"},"modified":"2025-05-05T23:20:31","modified_gmt":"2025-05-05T23:20:31","slug":"reimagining-the-future-of-work-3-ways-property-management-teams-benefit-from-ai","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=225646","title":{"rendered":"Reimagining the Future of Work: 3 Ways Property Management Teams Benefit from AI"},"content":{"rendered":"


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Published on September 11th, 2024
By Brittany Benz<\/a><\/p>\n

From managing increasingly unpredictable expenses \u2014 like rising insurance premiums and stubbornly high interest rates \u2014 to implementing new legislative changes, the property management industry is facing significant headwinds. As a result, real estate management businesses are finding themselves in a tough spot: finding ways to keep productivity high, even when team bandwidth is low and margins are tight.<\/span><\/p>\n

However, simply asking team members to navigate new and complex challenges on top of their existing workloads isn\u2019t a sustainable strategy. Not only does that approach increase the risk of employee burnout,<\/span> but<\/span><\/i> it also makes it more likely that things will fall through the cracks.<\/span><\/p>\n

AppFolio\u2019s own Stacy Holden, Industry Principal and Senior Director, and Kyle Triplett, VP of Product, joined the Multifamily Collective podcast<\/a> to share their recommended approach: Reimagining the future of property management work entirely with artificial intelligence (AI).<\/span><\/p>\n

Keep reading to explore highlights from their podcast conversation. Plus, discover just a few of the top ways AI solutions benefit property management teams and businesses.<\/span><\/p>\n

Streamline Communication with Time-Saving AI Automation<\/b><\/h3>\n

Responding quickly to prospect questions and sending timely resident communications isn\u2019t just part of a property management team member\u2019s day \u2014 it\u2019s essential. With 76% of renters expecting to <\/span>hear back within 24 hours<\/span><\/a> of contacting a property owner or manager, effective communication is critical for creating an outstanding resident experience.<\/span><\/p>\n

However, as Stacy discussed on the podcast, many of the questions property management team members and leasing agents respond to on a day-to-day basis can be repetitive, redundant, and time-consuming. By leveraging generative AI solutions and automating responses to common questions, teams can finally say goodbye to an endless email inbox:<\/span><\/p>\n

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\u201cSo if you think about the busywork, let\u2019s say for example, answering an email that has the same question about the pet policy every single time. Or reminding everybody that the pool\u2019s going to be closed for maintenance this Saturday. These are things where generative AI can help. So, instead of having your leasing agent or your property manager answering those questions time and time again, generative AI can automate that message and response.\u201d<\/span><\/i><\/p>\n<\/blockquote>\n

By automating responses to high-volume or common questions with AI solutions, prospects and residents can get the answers they need, in an instant \u2014 no matter the time of day or night.\u00a0<\/span><\/p>\n

In addition, generative AI solutions can be trained to respond in exactly the same way your team members would. So not only are prospects and residents getting an instant response, they\u2019re also getting it with the same personal touch a property management team would provide.<\/span><\/p>\n

Empower Employees in Brand-New Ways<\/b><\/h3>\n

The <\/span>2023 AppFolio Hiring and Retention Report<\/span><\/a> revealed a huge opportunity to improve the employee experience: using technology to streamline as many as 15 hours \u2014 or 38% of a 40-hour work week \u2014 of a team member\u2019s time per week.<\/span><\/p>\n

By allowing team members to optimize their time with AI solutions, they\u2019re also empowered to do more \u2014 and do it all more efficiently, accurately, and easily than ever before. When employees are empowered and have greater autonomy and control over how they spend their time, they take greater satisfaction and ownership in their work.\u00a0<\/span><\/p>\n

Stacy knows just how effective AI solutions can be in empowering property management team members because she sees it firsthand with AppFolio customers. Here\u2019s what she had to say on the podcast about one customer who is using AI to help level up and grow their younger team members:<\/span><\/p>\n

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\u201cThe way they\u2019ve introduced AI throughout the business has given them a way to empower their younger leaders. And what I mean by that is just appointing someone <\/span><\/i>as <\/span>their AI expert, and it was a younger leader in the business, and it\u2019s now their job to bring to the leadership team the learnings that they are getting out of AI. And so they\u2019ve been able to do a lot of leaning in, and a lot of tiny experiments, by not having the boss make all the decisions. They totally empowered this whole different cohort of individuals, and it\u2019s really brought a ton of energy and fun in the business.\u201d<\/span><\/i><\/p>\n<\/blockquote>\n

However, simply adding AI solutions won\u2019t automatically empower employees. Instead, as Kyle explains, it\u2019s about putting the right frameworks in place, too:<\/span><\/p>\n

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\u201cGive people super tools where they need it, but also make sure that there\u2019s a guide for people to begin using.\u201d<\/span><\/p>\n<\/blockquote>\n

To do so, Kyle recommends two must-have components for empowering teams with AI solutions:<\/span><\/p>\n