We have been getting a lot of questions on how to use AI for rental properties such as using an AI leasing assistant and AI automation. From the curiosity about ChatGPT and AI in leasing to a hands-on approach for managing properties, we've heard a whole spectrum of thoughts and ideas from various team members in property management companies. A few frequently asked questions in our demos were:  

1. “Our leads prefer to talk to humans rather than robotic AI, is there an AI with human touch?”

2. “Can AI integrate with our existing software in place?”  

3. “How does the AI technology give accurate information to our leads”  

4. “How does the AI access real-time information?”  

5. “How does the AI help in (property specific units) multi-family or single-family properties?”

We've heard from many of you, 75% of you to be specific, that faster decision-making and operational efficiency are your top concerns when hunting for Proptech solutions. We have calculated that AI leasing solutions maximize your ROI by reducing your days-on-market by 89%.  

Let’s get into your most asked questions regarding AI to help you make an informed decision about using the right Proptech for your needs.  

Question 1: Will AI replace the human touch?  

AI leasing assistants are in the game, but relax, it's not stealing our jobs. It's good at the easy stuff, but trust us, it's no match for the human touch in tricky negotiations.  

AI's handling the flood of questions, but it's not all canned responses. AI-driven chatbots are changing the game in how we interact with tenants. This is especially crucial for short-term rentals where quick responses are key to top-notch customer service.  

• A lead pops a question about a unit? Bam! The AI's already on it, dishing out details on rent, availability, and those fancy amenities.  
• Take pet policies, for instance. The AI's response is tailored, based on what your team programmed and the lead's profile—making it feel less like talking to a robot and more like chatting with a savvy friend.    
• It's not just chit-chat; the AI can line up viewings or nudge your guest cards about appointments—talk about follow-ups. AI leasing assistants can book 4X more tours.  
• With AI handling the chitchat, your agents are saving 4 hours per day. Hence, they have more time to dive into the deep end of human connections, focusing on what they do best.  
• Implementing AI tools that use Natural Language Processing (NLP) to understand and mimic human speech patterns. This technology can help in generating messages voicemails that have natural sounding intonations and rhythms.  
• To make the AI sound more human, include casual language and natural pauses in your templates. This makes the AI sound less formal and more relatable.  

Question 2: Can AI Seamlessly Sync with your Current Tech ? 

• Most Proptech solutions these days are like social butterflies; they love to mingle. Your existing software? AI's ready to buddy up with it. The AI leasing tools are designed to play well with others, effortlessly syncing with whatever systems you've got in place.  
• Think of AI as the universal remote of your tech ecosystem. Whether you’re working with Buildium, LetHub, AppFolio, Yardi Voyager or any other property management software, AI is built to adapt and integrate. It's not about replacing your current tools but enhancing them.  

Why you should be Integrating AI leasing tools with your Proptech?

AI tools can connect to your property management software through APIs (Application Programming Interfaces). These APIs act like bridges, allowing seamless data flow. These integrations offer typically customizable settings based on your operational needs.

Question 3 & 4: How does AI for Rental Properties Provide Accurate Info to your Leads in Real Time?

Some of you are wondering how AI juggles real-time data without dropping the ball. Here's the tech magic for accessing real-time information: AI leasing solutions in property management are designed to sync with cloud-based platforms, like your property management software. AI systems constantly evolve, learning from new data.  With fresh data from your website, AI stays precise and relevant. This means it is constantly connected, pulling live updates.  

As mentioned before, the full use of AI for rental properties is achieved when you have integrated it with your property management software. This ensures your leads have access to the most current and relevant information. It can access the databases you have allowed such as your showing agents’ calendars or your rental unit’s features and data. By analyzing this data, it can accurately respond to queries about unit features, pricing, availability, and more.  

A few examples of how AI leasing tools tapping into real-life information to give you and your leads accurate information are:  

AI for Guest Cards Communication:  

• AI syncs with your calendar and rental units’ databse in real-time. This ensures every update, from sudden changes in a team member's calendar to new listings. AI leasing assistants are on top of it, giving your leads the lowdown with the accuracy of a seasoned pro.  
• Picture your listings and even those last-minute calendar tweaks are also taken into consideration before a tour is booked. This AI isn't just smart; it's practically a mind reader, syncing with your updates and ensuring none of your agents are double booked.  
• It's like having a super-efficient assistant who never sleeps and responds 24/7.