AI-driven solutions have the power to not only enhance the experience for potential and existing residents but also improve efficiency for property managers and leasing teams.
1. Virtual Reality (VR) and Augmented Reality (AR) for Virtual Leasing: AI-driven VR/AR solutions create immersive, customizable virtual tours, allowing prospective residents to explore properties remotely. This is especially beneficial for projects still under development or for prospective international or out-of-state residents who cannot visit a property in person due to distance or time constraints.
2. Predictive Analytics for Resident Retention: AI models analyze resident behavior to predict lease renewals and suggest proactive resident retention strategies. By assessing factors such as maintenance request frequency, payment history and amenity usage patterns, AI can predict which residents are likely to renew their leases. Additionally, AI can empower property managers to make data-informed decisions to optimize amenity offerings, anticipate maintenance needs and tailor personalized resident experiences, all of which enhance the living experience for our residents. By addressing issues before they escalate and personalizing our approach to each resident, we can significantly improve resident satisfaction and long-term retention rates.
3. Virtual Assistants for Resident Communication: We have significantly improved our resident communication and service efficiency through the implementation of AI-powered chatbots and virtual assistants. These AI tools provide round-the-clock support, addressing resident inquiries at any time, which is especially valuable for non-emergency issues outside of regular business hours. Virtual assistants can streamline maintenance requests and provide real-time updates on their status; quickly provide residents with information about their lease terms and rent due dates; facilitate booking of shared amenities; and answer common questions about policies, procedures or community guidelines. By automating these interactions, our property managers can focus on higher-value, more complex tasks that require expertise and personal attention.
4. AI-Driven Marketing Personalization: AI-enhanced marketing tools enable multifamily operators to target potential residents with more precision. By analyzing online behavior, search trends and social media activity, CRG can identify high-potential leads more likely to sign a lease. AI tools can also create personalized content for various audience segments, tailoring messaging based on demographics, interests and stage in the leasing process. Leveraging AI to deliver more targeted and personalized marketing allows us to improve marketing efficiency and enhance overall experience for prospective residents.
AI technology is poised to revolutionize the industry in several key areas as well.
1. Resident Experience Platforms: AI-powered platforms are evolving to create a seamless, integrated living experience. These systems can sync with smart home devices, fitness amenities and community engagement tools, offering automated access, scheduling and personalized recommendations that foster a more connected and interactive community environment.
2. AI-Enhanced Security and Surveillance: Advanced AI in security systems is expected to continue growing. Predictive analysis can aid in detecting unusual activities and identifying potential risks. Automated alerts can proactively notify property managers or security personnel, ensuring a safer environment for residents.
3. Energy Optimization Systems: AI’s contribution to sustainability is expanding through tools that optimize energy consumption in real time based on usage patterns, weather and occupancy. These systems can adjust lighting, heating and cooling for efficiency, providing savings for property managers while supporting eco-friendly solutions for residents.
4. Resident Sentiment Analysis: By integrating AI-powered sentiment analysis with existing resident feedback systems, property managers can gain insights into resident satisfaction trends, detect issues early and address concerns effectively. This function not only helps improve retention but also strengthens community engagement by making residents feel heard.
Louie Colella is Vice President of Leasing and Operations at CRG.
This originally appeared within the 2025 Executive Preview.