The Ultimate AI Leasing Assistant Solution

An AI Leasing Assistant is a software tool that uses artificial intelligence to help property managers automate tasks, manage leads, and streamline the leasing process in the real estate industry, resulting in more efficient and effective operations.

PERQ’s Leasing Assistant uses artificial intelligence (AI) to automate time-consuming activities like answering questions, following up with prospects, and scheduling tours. Baked into the PERQ platform is AI with some important distinctions:

• • First, PERQ’s conversational AI is natural language processing (NLP), meaning it can understand and respond to questions written in natural language, as we touched on earlier. This provides a far better experience than “guided bot” technology, where a user has to choose from a list of topics, rather than type in the exact question they have.

• Second, PERQ’s AI is machine learning, meaning it learns and improves over time. In addition, the PERQ platform also offers personalization capabilities for its automated nurture outreach, that adjusts nurture communications for each prospect and has intelligent lead handoff, knowing exactly when it is the right time to hand the lead off to a member of your onsite team.

The key distinction between an AI Leasing Assistant and a Chatbot lies in their functionality. While the term “AI leasing assistant” is often used interchangeably with “chatbot” in multifamily, not all AI leasing assistants are chatbots.

Chatbots can be categorized into two types: Natural Language Processing (NLP) chatbots and rule-based chatbots. NLP chatbots are more conversational and adept at understanding natural language, allowing them to provide meaningful responses to prospect inquiries, even if the questions are not perfectly formulated.

On the other hand, rule-based chatbots follow a predefined workflow and prompt users to navigate through it, which can be frustrating for renters seeking specific answers outside the established prompts. PERQ’s AI Leasing Assistant uses conversational NLP to improve the renter’s experience along with other marketing automation and personalization solutions.

The PERQ platform also has a website conversion module that instantly modernizes your website with interactive website experiences. This capability can be added to the PERQ Leasing Assistant to amplify its results. PERQ’s nurture outreach is personalized to the individual in three ways:

• • Cadence: The cadence of the touches are based on the prospect’s move-in window and changes when their plans do.

• • Content: The actual content of the communication is made more relevant by referencing the personal preferences of each prospect.

• Channels: The channel the nurture is sent is based on consumer behavior and preferences.

When added to the PERQ Leasing Assistant, interactive experiences work as a secret weapon for the nurture personalization because they offer more free leads converted from the website as well as engaging CTAs that can be used in the nurture to further engage leads from any source. This way, you can get leads to engage in a tailored-made experience that, in our experience, can significantly increase leases.

Proof’s in the pudding, as the saying goes. It’s why PERQ offers a no-risk trial so PMCs and multifamily marketers can see for themselves what an AI Leasing Assistant can do for their business. Invariably, they come away shocked by the results they see in a short time.

Take CA Ventures, for instance. At the end of a 90-day pilot with PERQ for 10 of its properties, CA Ventures reported the following:

• • +226% average increase in lead-to-tour conversions for each pilot property.

• • 99% of tour scheduling was handled automatically by PERQ.

• • +157% average increase in website leads.

• +1,002 hours of staff time saved, resulting in labor cost savings/reallocation of ~$20,000.

Laramar, which manages a portfolio of 150 properties, also ran a no-risk trial with PERQ. At the end of the three-month experiment, the Laramar team reported the following improvements:

• • -2,858 fewer hours spent managing leads, equating to $57,160 in payroll value.

• • 90.4% of tours were scheduled via PERQ, requiring zero human interaction.

• • +182% increase in lead-to-tour conversions.

• • +113% increase in website traffic to lead conversion.

• $43,116 in savings or cost avoidance in lead generation (more leads generated from web traffic, plus more tours from nurtured leads).