However, the author emphasizes that while GenAI can revolutionize the industry, it cannot replace the human aspects of creating habitable and desirable housing. The author suggests a balance between using GenAI to automate predictable tasks and human staff to handle exceptional tasks, to create modern multifamily communities that feel genuinely communal and cater to individual needs.
Key takeaways:
- Generative AI (GenAI) is transforming the property management industry by automating time-consuming tasks, creating new data patterns, and improving the housing experience for both operators and residents.
- Private models of GenAI can protect sensitive information and minimize risks in real estate transactions, as well as identify potential issues before they become costly problems.
- GenAI can provide invaluable insights into housing development and acquisition, from price modeling to predicting market trends, and can streamline workflows by automating research processes.
- GenAI can enhance the resident experience by providing personalized property recommendations, predictive pricing models, lifestyle options through smart home systems, and 24-hour customer care through chatbots.