19
Mar 20

The AI Effect

Posted by: Entrata | Category: Residents,Technology

Delivering a Next-Level User Experience that Boosts NOI

What’s intuitive to one might not be intuitive to another. Because every technology user is different, it’s nearly impossible to create a purely intuitive experience for everyone alike. 

Until now, that is. Artificial intelligence is poised to make it happen. 

The possibilities are nearly infinite when integrating a resident’s smart-home devices with a community’s resident portal. New AI technologies can analyze and adjust to the behavior of the individual and customize their individual experience. This results in happy residents, increased renewal rates and a stronger NOI for the community. 

Here are a few examples of this concept in action:

Smart-home Suite
Smart amenities, including virtual assistants, are becoming increasingly intuitive. They can anticipate times in which residents typically arrive home and ask the resident if they want lights turned on, the oven started or anything else that can be digitally activated. They can provide rent reminders near the first of the month and offer to implement the transaction. Near bedtime, the smart device can offer to shut the shades, dim lights and lock doors. All of this is based on the machine-learned behavior of the resident and their regular tendencies, catering to their individual preferences. 

Themes Features
While smart devices can anticipate routine behavior, they can also assist with spontaneous actions. A resident can request a virtual assistant to prepare for movie night, in which lights dim, shades draw and the TV and sound system are activated. Perhaps a “work from home day” command prepares light above a desk and ignites a certain playlist. A “date night” could result in smooth jazz, mood lighting and other features that create a romantic atmosphere. The possibilities for customization—and subsequent resident satisfaction—continue to increase. 

Maintenance Requests
Remember the days when the only way to submit a maintenance request was calling the leasing office? Those days should be long gone. In fact, smart devices can sometimes submit their own service requests before their parts malfunction. Some smart refrigerators and other appliances can anticipate when a part will need to be replaced, order the replacement and have it in the hands of a maintenance tech before it’s even needed. That is one of the many ways AI can make an authentic impact on a resident’s overall maintenance experience. AI can enable real-time tracking of maintenance requests, follow up on requests via push notifications, ask a resident if they grant a team member permission to enter the unit and follow up after the work has been finished to ensure no further complications have arisen. 

While AI is enhancing the possibilities for leasing teams, marketing teams, maintenance teams and at the C-Suite, perhaps its most impactful presence is what it can do for residents. Apartment operators who keep that in mind when vetting the latest AI technologies will be primed to offer the most intuitive customer experience, and their NOI will almost certainly reflect it.