Property management chatbots that use Artificial Intelligence can increase your conversion rate by up to 391% and save 30% of your communication cost. Keep reading to see how these chatbots attract high-quality rental leads, resulting in low turnover rates.
Do you want a low turnover rate, and high-quality tenants? It’s okay if you’re not there yet... As a property manager, you might be making efforts, but are they good enough?
You might be providing amazing amenities, prompt maintenance, affordable rent, peaceful neighborhood, friendly policies, but what if you can’t attract the right renter leads?
Believe it or not, generating high quality renter leads is hard. In fact, 61% of marketers count it among their biggest challenges. Each incoming lead depends upon communication, yet with all the traffic, you can’t differentiate between high quality renters and window shoppers.
With all the responsibilities, we know you cannot be 100% responsive, no one can be! That’s why we recommend you to automate your property management operations and make the most out of your time. Better not to delay, as 68% of businesses have already adopted automation, and we don’t want you to feel left out.
Artificial Intelligence based property management tools can clear your pathway towards high quality property management leads in no time. Artificial Intelligence (AI) can help property management companies by:
Conventional property management is fading away and Artificial Intelligence based chatbots are taking over. Do you know why? Because communication automation helps property managers like you focus on important tasks, rather than the repetitive ones.
Potential tenants now furiously browse rental listing sites to find a perfect place. Zillow, for instance, received traffic of 36 M in January only. And practically, it's impossible for a human to address the renter inquiries coming through this traffic.
To solve this problem, chatbots with Artificial Intelligence technology are purpose-built to answer all your repetitive tenant inquiries and Frequently Asked Questions (FAQs), to pre-qualify leads, and schedule property tours.
As per Apartment association’s data, 42% of the inquiries are related to scheduling or rescheduling tours. So why bother replying to monotonous questions when you can simply opt for an efficient property management chatbot?
To stay ahead of competitors, you need to introduce automation in your property management company. Switching to property management chatbots can be your first step towards automation, that will help you achieve your long-term goals.
These chatbots can help you keep your prospective tenants engaged with your site; thereby providing them with high-quality customer experience. According to Lianatech, 45.9% of people find better customer experience with automated communication.
As per Salesforce, 69% of the leads prefer chatbots over human interaction because of instant responses. And we know how badly you want to be among the preferred ones!
That’s why we have listed the key points which high quality property management leads love and are only achievable through chatbots using Artificial Intelligence technology.
People looking for a rental property are eager to find their comfort place. Once your property appears on a listing site, rental leads start reaching out. They don’t really wait for your office to open. Whatever time it is, midnight or early morning, prospective tenants start inquiring and you have to answer.
Availability in non-working hours or weekends is not a problem for AI-based property management chatbots, they are responsive 24/7. And they know exactly how to answer the queries.
Artificial Intelligence (AI) based chatbots never miss any lead, saving your time and customer support cost by up to 30%. So, if you’re under the impression that these chatbots are expensive, it’s time to reconsider them!
As soon as a renter shows interest in booking a tour, the chatbot will automatically ask your prequalification questions. It directs the rental leads to the next step only if they qualify your criteria. In case of disqualification, it directs them to other properties that closely match their needs.
Switching to a property management chatbot helps you in generating a pool of selective tenants who are the right fit for your property, leading to higher chances of conversion.
These chatbots ensure your prospective tenants are engaged from the moment they interact with your site to the point when they book a tour. And this ultimately contributes in delivering a better customer experience.
Property management chatbots with built-in AI are that assistant of yours who knows everything in advance. It knows the dates, days, and even time slots when you are available for giving a property tour.
If you are tired of dealing with messy and disorganized calendars, this AI chatbot is a godsend for you. When the chatbot finds a pre-qualified high quality lead, it directs them further to schedule a tour. It further makes sure there are no potential clashes and notifies you.
Property management chatbots can resolve almost 69% of the total incoming renter queries. Now you might be wondering what happens to the rest of the inquiries?
Don’t worry if the chatbot fails to answer a query. It automatically redirects the conversation over an email to your agent, making sure your leads enjoy a seamless site experience.
There are times when you lose the connection with an almost converted rental lead. They qualify for the property, take a tour, and then suddenly vanish. But property management chatbots do not give up on your to-be customers. They keep you connected with your customers by regularly following up with them.
Many of the interested rental leads might get busy after taking a tour, about which you cannot do anything, right? An AI-based chatbot utilizes every single penny you’ve spent on it and sends an automated yet personalized email to all the “almost converted rental leads.”
And when your property management company starts to address potential leads with a personalized subject line, it increases the open rate by 50%!
It helps your brand name stay on the top of their minds. And reminds the qualified high-quality rental leads about what they are missing. To trigger an instant reaction, it uses a call-to-action button that directs the prospective renters to their destined property.
The first time a prospective tenant interacts with your brand is through your site. An AI-based property management chatbot helps you create a long-lasting first impression on your prospective tenants.
Property management chatbots narrow down the leasing process, answering up to 80% of the routine questions. It saves your time and money by finding high quality leads from a pool of hundreds of rental leads, and by booking tours as per your availability. These chatbots are quick learners, with each unique query, they learn a new response.
The whole communication automation process helps you in streamlining your business. So, you as a property manager can sit back and utilize your energy on growing your portfolio rather than carrying out mundane tasks.
Why spend five times more money finding new tenants when you can retain the old ones who are 70% more likely to stay? Read and implement our expert advice for better tenant retention and a high rental occupancy rate.
Starting your property management company can be a bit daunting in the beginning especially for newcomers. In this guide, we discuss the key steps you should be aware of as a new property manager, which will help you grow your business right from the start.
Artificial Intelligence can increase your property management business' productivity by up to 40%. Continue reading our blog to discover how AI-powered property management tools can save your time and increase productivity.