The Multifamily AI Revolution

The multifamily industry is experiencing a profound shift. Gone are manual, time-consuming operational and administrative tasks that eat up your site team’s valuable time. They have been replaced by AI and automation that are now essential for driving process improvements and elevating property performance. Properties that adopt these new tools will see significant cost reductions paired with an improved resident experience as property teams are now able to concentrate on high value activities that truly matter. AI and automated operations are now table stakes. Properties that fail to adopt AI, will continue to fall behind the competition.

AI's efficiencies are clear. It lowers operational costs, freeing up valuable staff for more strategic, resident-focused work. Ultimately, AI will impact every part of your business. The end result is something Entrata refers to as “Autonomous Property Management (APM)”.

Understanding Autonomous Property Management (APM)

APM represents a fundamental change in how properties are managed. The goal is to drive operational cost efficiency from individual properties up to the corporate level. This empowers on-site teams to engage in strategic activities and face-to-face conversations while AI handles repetitive, routine tasks, leading to higher Net Operating Income (NOI).

APM involves more than just AI-powered automation. It also optimizes other workflows within a unified property operating system, streamlining everything from the first prospect inquiry to lease signing and through renewals. For example, automating delinquency notices means teams no longer spend time each month sending these out, shifting their focus to residents and prospects.

Overcoming Hesitation with AI Adoption

Some hesitation about adopting APM is understandable. The media often portrays AI as something that will replace jobs, but when you look closer, you’ll see that AI tools are built to enhance property operations and improve the resident experience, not replace site team members.

Companies don’t need to jump into AI head first. They can start their AI journey slowly, implementing automations one piece at a time. This approach allows organizations to build comfort and confidence as they integrate these tools into their daily operations.

The Core Components of Autonomous Property Management

APM is not just a single feature but a holistic approach built on several key components:

• AI-Powered Automation: This includes conversational AI that can manage lead nurturing, handle maintenance requests, and manage routine resident communications. Entrata's layered intelligence (ELI) is the foundation on which all automations in the platform are driven, connecting all aspects of a business with a unified data layer which ensures data is available at every step.
• Workflow Optimization: This streamlines processes across all departments, including marketing, leasing, resident services, maintenance, and accounting.
• Predictive Analytics: This uses data to anticipate resident needs and optimize rental rates, enabling you to make proactive, data-driven decisions.
• Seamless Integration: All property management functions connect within one unified platform.
• Elevated Resident Experience: AI-powered operations offer personalized and efficient services for residents.
• Flexibility: AI solutions give you the flexibility to automate new processes when you are ready.

Tangible Benefits of Adopting APM

• Cost Reduction: Automating processes like rent collection saves time and resources that property staff can redirect to high-value activities, like enhancing resident experience or nurturing leads. This also reduces those uncomfortable conversations between staff and residents about late payments.
• Growth: Streamlined operations and improved resident experiences lead to higher occupancy rates and reduced turnover for both residents and employees, which directly contributes to higher NOI.
• Improved Team Efficiency: Staff are freed from mundane, repetitive  tasks, allowing them to focus on vital resident relations, while AI handles much of the day-to-day operations on the back end.
• Data-Driven Decisions: Leveraging predictive analytics helps teams make smarter strategic decisions for long-term planning, effectively future-proofing the business.

Property managers often say their job is "putting out fires." AI helps extinguish those fires by freeing up time for more meaningful work.

AI in Action: Marketing, Leasing, and Operations

• Marketing and Leasing: A major challenge for leasing teams is managing the sheer volume of prospect inquiries and the need for quick responses, even after business hours. AI-powered leasing agents, like Entrata Leasing AI, engage with prospects and nurture leads 24/7, delivering high-quality, personalized conversations that collect guest card information, qualify leads and prioritize by score, schedule tours, and nurture them until a lease is signed. This omnichannel capability allows prospects to interact via voice, chat, or email, ensuring a consistent experience.
• Content Generation: Generating property-wide communications or marketing content can be a burden. Generative AI built into the platform produces high-quality emails, website content, and announcements with simple prompts, saving hours for site teams, especially those without dedicated marketing specialists, letting them focus on resident engagement.
• Screening and Fraud Prevention: Fraud is a significant problem. Entrata's AI tools analyze bank statements, pay stubs, and other documents to identify and stop fraudsters before they access properties. These flexible tools allow property teams to set their own screening criteria, ensuring faster and more accurate screening, which reduces evictions and bad debt, contributing to a healthier NOI and less stress for staff.
• Maintenance Requests: Residents consistently rank maintenance as a key factor in their renewal decisions. AI maintenance agents can revolutionize this process by responding to requests, diagnosing problems, assigning technicians, ordering parts, and scheduling appointments, all without human intervention. This streamlined process ensures work orders are completed correctly and quickly, minimizing resident frustration and increasing renewals.
• Predictive Maintenance: Taking maintenance a step further, predictive maintenance uses predictive analytics and data from smart sensors in appliances and HVAC systems, alerting properties about potential problems before they become issues, enabling proactive fixes or replacements. Preventing even one breakdown, like an AC unit failing in summer, significantly impacts resident satisfaction and renewal decisions.
• Delinquency Management: Late rent payments are a constant challenge. Manually chasing these payments is a major drain on time and resources. Entrata's Payments AI agent automates communication for rent payment and collection, handling those difficult conversations with residents. Like the leasing agent, it answers questions like a human, collecting information, and escalating to site teams only when necessary. All conversations are saved for a clear audit trail. One Entrata customer saw a 40% improvement in collections by implementing this process.

The Power of Data-Driven Decisions and Future-Proofing

Beyond AI-driven automations, Entrata's unified data layer powers business intelligence and revenue intelligence tools. These provide real-time insights into portfolio performance, including occupancy rates, revenue, and leasing velocity, helping property managers track trends, identify areas for improvement, and make strategic decisions. Revenue intelligence helps set optimal prices for every unit by considering various defined variables, ensuring pricing aligns with property-specific needs and financial goals.

This holistic approach means Entrata not only drives workflows, but also provides high-level data to help corporate teams make better strategic decisions.

Embracing the Future Today

Now is the time to adopt AI. As noted, the benefits are tangible—saving countless hours, making processes incredibly efficient, and elevating the resident experience. By embracing AI now, you are not just improving current operations but actively future-proofing your business.

Companies can start by identifying where to begin their AI journey, choosing automations or AI processes that fit their current comfort level and needs. This phased approach allows for a smooth transition, leading to increased NOI and more engaged teams.

To learn more about AI, check out our latest webinar, Autonomous Property Management: The Multifamily AI Revolution.