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6 Tips to Activate AI Now for Multifamily Momentum (NAA Takeover Recap)
Apartment industry leaders actively putting AI to work were the featured influencers when RealPage® hosted a social media takeover of National Apartment Association’s Facebook page on May 31, 2024.
Throughout the day, six live sessions with our industry principals and customers explored how multifamily owners, operators and investors can act now as AI ambassadors to help their organizations realize opportunities for early AI adoption.
Here we’re sharing a glimpse into their AI playbooks with stats, business challenges, stories and strategies for implementing AI across the renter journey to maximize your advantage from the front office to property operations.
Tip 1: Set Your Services Apart With AI
Deloitte and Gartner report healthy business adoption and increasing absorption of AI innovations in real estate. So, using AI in multifamily is quickly becoming a differentiator for the diverse benefits and operational advantages it can add across these service-heavy organizations.
Find out how forward-thinking operators are applying AI to deepen customer service interactions with prospective and renewing residents for tailored insights that help sharpen your leasing edge.
Guest: Steve Boyack, Chief Operating Officer at JVM Realty
Host: Tracy Saffos, Industry Principal at RealPage, Inc.
Tip 2: Expand Savings Potential With AI
AI’s rapid changes to multifamily are evolving beyond significant cost savings for property owners and operators. Next, it will unlock new possibilities to revolutionize real estate from property acquisition and management to enhancing resident experiences.
See the AI opportunities in your operations for cost control, resource allocation and efficient resident services in an advanced leasing-to-living experience that optimizes value and returns.
Guest: Alex O’Brien, Chief Executive Officer at Cardinal Group
Host: Arben Skivjani, Deputy Chief Economist for RealPage, Inc.
Tip 3: Keep the Resident Experience Personal With AI
With new opportunities to create a more informed and personalized interaction with new or returning residents, AI is helping multifamily teams focus on earning their interest, trust and even loyalty — with Forbes Insights revealing that 70% of multifamily executives see the potential.
Hear insights on priming your team for high-quality conversion and retention with AI-enabled training, tools and technology that add the “personal touch” to engage and retain resident loyalty.
Guest: Courtney Mathiowitz, Director of Marketing at Wingate
Host: Carl Whitaker, Chief Economist for RealPage, Inc.
Tip 4: Make Maintenance Your Superpower With AI
Besides the lift in operational savings and equipment uptime that AI-powered predictive maintenance can support, multifamily can proactively drive value from a machine learning model by optimizing service requests toward higher resident satisfaction scores.
Explore how AI can help you personalize resident value and preserve asset value with intuitive, real-time engagement based on experience and insights that resonate for results.
Guest: Quinn Willis, Vice President of Property Management at Venterra Realty
Host: Tracy Saffos, Industry Principal for RealPage, Inc.
Tip 5: Focus on Marketing That Matters With AI
In markets saturated with new inventory, more leasing choices and information overload, most marketers believe AI delivers expert analysis to help multifamily capture each renter’s interests, earn their trust and win their loyalty with a personalized resident journey to their ideal apartment home.
Hone in on crafting a seamless resident journey with the specific information they want at the right time in their decision-making process from a team focused on their personal needs and satisfaction.
Guest: Tarra Secrest, Director of Marketing at Druker + Falk
Host: Dayna Gardner, Industry Principal for RealPage, Inc.
Tip 6: Prioritize Sustainability With AI
The work-from-home shift established high renter expectations for seamless, integrated smart technology that now relies on AI to prioritize convenience, community and connection at every stage of the resident journey — while enhancing propertywide energy efficiency, security and comfort.
Learn how a smarter, AI-enabled blueprint for responsible environmental and bottom-line impact helps accelerate excellence in service, efficiency and compliance for a sustainable competitive edge.
Guest: Katelyn Manning, Senior Revenue Manager at MIG Real Estate
Host: Krista Hurley, Industry Principal for RealPage, Inc.
And That’s a Wrap!
In the sessions featured during our 2024 NAA Takeover, we heard some amazing strategies and innovations from real-world AI playbooks and experiences. Again, we thank the NAA for allowing us to spend the day on their Facebook page with the passionate professionals of the multifamily community.
We heard about a lot of potential for AI to deliver real support through shifts in the market with these key topics:
- AI adoption remains on the rise across the industry.
- AI can move the dial on cost reduction.
- AI is especially valuable in elevating the renter/resident experience.
- AI helps optimize maintenance operations.
- AI + analytics = advantage through a personalized renter journey.
- AI integration is accelerating smart building growth and viability.
Everyone who participated — on camera and online — seemed excited about the trends and technologies illuminating a more straightforward path to greater efficiency, impact and resident satisfaction with AI-driven tools and tech for multifamily.
For a look at everything we covered during the takeover or to learn more about the AI strategies and insights discussed, visit #RealPageNAATakeover
We continued the conversation during our June 12 Innovation Day, a virtual event available on demand today to explore our upcoming advancements and technology updates.
See more from RealPage and NAA at the Apartmentalize conference in Philadelphia, June 19-21.