The multifamily industry is making significant strides in embracing automation. That’s good news for owners, property managers, site teams, residents, and the industry. Automation leverages technology, including artificial intelligence (AI), to perform tasks and processes with less human intervention. International Data Corporation predicts generative AI and automation could lead to $1 trillion in productivity gains for companies worldwide by 2026. Employees at companies that have adopted AI are 90 percent more likely to report higher productivity than those at non-adopting companies, according to the 2023 Slack State of Work Report.
In multifamily operations, automation and AI can help streamline repetitive tasks and time-consuming processes in maintenance and leasing. Here are some reasons to integrate more automation into your operations.
How automation benefits multifamily operations
Automation solutions can help you achieve these advantages:
Help your teams work smarter
When your teams are less hands-on with software, they can be more hands-on with maintenance, leasing, and other operations. Automating can help your teams work smarter by:
Ensuring accuracy in data entry, scheduling, and other routine tasks
Streamlining workflows to minimize delays and lessen downtime
Centralizing communications to boost collaboration
Providing data about your community’s maintenance needs and occupancy to improve decision-making
Increase team efficiency
Automation can make your organization more efficient by:
Saving the time your team would spend on repetitive tasks
Freeing your team to work on complex, creative tasks that require human expertise
Allowing your team to focus on revenue-generating activities
Improve resident experience and satisfaction
Automation not only enhances operational efficiency, but it can also enhance the resident experience by:
Improving communication between residents and on-site teams
Enabling quicker responses to maintenance requests
Reducing wait times for repairs
Simplifying lease renewal and rent payment
Enriching the living experience with technology that adjusts temperature, lighting, and other settings to match preferences
Cut costs
Finally, automation can save your community money by:
Streamlining processes and reducing the need for unnecessary manual work
Automating maintenance systems to identify and address issues early to prevent costly repairs
Tracking assets like appliances and HVAC systems to extend their lifespan
Optimizing energy usage in common areas with smart technology
Improving the resident experience to attract prospects, retain residents, and reduce expenses on vacant homes
SmartRent’s automation solutions
Ready to reap the benefits of automation in your operations? Even if you’re already a customer, you may not be fully taking advantage of SmartRent’s automation and AI features. Here’s how you can improve your operations with our automation solutions.
Walk & Talk
This AI-powered solution allows your team to dictate an issue while it fills in the task info. It can reduce site teams’ task-creation efforts by 70 percent.
Templates
This feature populates new projects with necessary steps, tasks, and closing requirements to save your team significant time. Your team can customize templates to match their tasks, make-ready processes, and inspections.
Boards
Your team members don’t need to check the office whiteboard for your make-ready process or other information and communications. This digital tool mimics the office whiteboard to give your teams the info they need in the tool they use daily.
Asset tracking
This tool helps your team manage fixed assets more efficiently. It uses QR codes for tracking and automatically ties assets to tasks to help extend the lifespan of your assets while reducing damages and costs.
Answer Automation
Our answering service automates leasing and resident call handling. It handles routine questions and escalates callers who need help to the right person. It also allows prospects to set up Self-Guided Tours without interacting with your team to improve tour and lease rates.
Conclusion
Multifamily communities can’t afford to ignore AI and automation. By embracing the power of automation in your daily operations, your community can benefit through improved efficiency, an enhanced resident experience, and significant cost savings. Automation isn’t just a trend—it’s a necessity for staying competitive and providing your residents with an exceptional living experience.