6 Ways Your Property Managers Should Be Using AI

AI is reinventing property management through new tools and processes that are designed to create both cost efficiencies and new strategic opportunities. How well – or not – companies embrace AI will define their competitive edge.

However, property managers must be aware of certain guardrails when incorporating AI into its toolbox. While AI is revolutionary for all its benefits, there are certain drawbacks when not used properly. Here are some guiding principles to be aware of when using AI in property management.

1. Replace Tasks, Not the Human Touch

Automating work orders frees up property managers from manually matching vendor and resident calendars, which can take hours to coordinate, as well as collecting and communicating details related to the job.

While AI is transformative because it takes those tasks off your manager’s plate, making sure the time saved allows them to be available for human interaction with residents, or to perform specialized work. Your property manager shouldn’t disappear into the back office; instead, let your residents know they are available for follow-up questions or concerns. Customer service via humans is always important.

2. Don’t Stop Testing the Technology

AI protocols evolve over time, and you may find there are certain things automation does very well in the property management process and other things it does not. Don’t settle for one approach to AI but collect feedback from your residents and other members of your team to see how it can be tweaked or tested as it becomes more embedded in your business.

3. Be Vigilant of Privacy and Security Concerns

Like any automated system, AI collects data that can be used to help your operation generate efficiencies and valuable insights. But that date is often extremely sensitive, such as financial records. Cyber criminals are always finding new ways to attack systems, so be aware of the proper safety protocols. Make sure you regularly update your software and conduct frequent security audits.

4. Train Your Team Members

What’s the use of AI if no one knows how to use it properly? Everyone on your team needs to buy into the value it brings to your operation; without that, it won’t be used to its greatest potential. Conduct proper training sessions to help create a culture that sees AI as a valuable tool and not a threat. If adoption rates are not skyward, make training a regular part of your team’s cadence.

5. Focus on Clean Data

Poor data quality can be disastrous. If your system is not designed to collect data properly, or the data itself is inaccurate, you’ll be creating a strategy based on faulty insights. Make sure to conduct regular reviews of your data so it is current and accurate. And train your vendors to correctly input data on work sites.

6. Maintain Clear Objectives

With so much new data to mine, what you get from it will depend on your approach. Talk to your property managers about establishing clear objectives about approaching the data. Set goals to give you specific results: Do you want to improve vendor arrival times? Reduce resident turnover? Understand the life cycle of your HVAC systems? By aligning your AI processes to specific questions you need answered, you will operate more efficiently and get the most out of the technology.

Let Lessen Help

Lessen’s solutions are designed to give you full visibility into your property so you can track and maintain assets, communicate clearly with vendors, and – most importantly -- make sure your residents are happy. Let’s talk!

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