Generative AI can create text, audio, images, and videos in a matter of seconds. ChatGPT’s technology interacts with users in a conversational way. The language model can answer questions and assist in routine tasks such as drafting marketing descriptions for properties, freeing you to focus on business performance and tenant satisfaction.
With the AI market projected to reach $407 billion by 2027, the benefits of AI are far-reaching and only in the beginning stage of discovery. Here are some ways this technology can help improve your company’s everyday processes and overall success.
Marketing your properties
Effectively promoting your properties to prospects is one of your highest priorities, but this task can become time-consuming and tedious, especially for those without a marketing background. This is where AI-driven tools can help.
Creating compelling language and images to market your commercial and residential properties is an easier task with AI technology. From writing social media posts to emails for prospects, projects that previously took hours can now take seconds. There is even virtual staging technology available to design a look and feel to take your asset images to the next level.
Keep in mind that anything generated by AI still requires human input. While AI tools are great assistants, it is essential for you to develop a review process for accuracy and quality.
Answering routine questions
As prospects search for the perfect property, it is common for them to have many questions. When those answers can’t be found on your website and it’s too late to call the office, having a simple way for them to connect with you in real time is ideal. AI tools—such as customizable chatbots—do just that, and more.
Chatbots can receive inquiries and provide personalized responses back to online visitors in an instant. As the chatbot interacts with them, it evolves as it learns, making it a valuable extension of your team. Further, this tool provides 24/7 support for your prospects and tenants, and peace of mind for you.
Predicting maintenance
AI-enabled maintenance platforms can predict potential issues with equipment—such as HVAC systems—before problems happen. These predictive maintenance tools analyze data sources to determine where faults may occur. This advanced warning enables you to schedule maintenance in a timely manner—reducing downtime, extending the lifespan of your essential systems, and saving you money.
Enhancing the tenant experience
As you and your team determine which AI tools to adopt, the greatest beneficiaries of this technology will likely be your tenants. Using AI for repetitive tasks allows more time for you to focus on and respond to their needs and requests, which can lead to higher satisfaction, better relationships, and greater retention.
Conclusion
While AI will never replace the value and impact of human input and interaction, it can help your business succeed in many ways. Boosting efficiency, saving time and money, and increasing tenant satisfaction are just a few benefits of this powerful technology.
About the author
Vanessa Perry is a Content Developer for London Computer Systems, a developer of business-critical technologies. The company’s flagship product, Rent Manager property management software, incorporates advanced accounting, maintenance, and CRM systems; customizable commercial and residential portfolio tools; and integrations with the industry’s leading PropTech providers.