Pub. 4 2019 Issue 4

5 ISSUE 3 2019 TECHNOLOGY WILL CHANGE MULTIFAMILY LEASING AI technologies, self-guided tours and short-term rental platforms are set to change the prospect and resident experience. Continued on page 6 T he apartment industry’s onsite technology is at a tipping point, the likes of which we have not seen since the late 1990s. at was a major conclusion of “20 for ’20”—a recent study based on interviews with 20 senior property management and technology leaders about where the industry will be in 2020. at period, starting 20 years ago, saw the advent of instantaneous credit screening, web-based PMS, resident/prospect portals and pricing and revenue management, for example. ose new technologies delivered transformative change to the industry; since then, technological innovation has moved at a much more incremental pace. Today’s con uence of smart home and arti cial intelligence (AI) technologies, along with other new entrants such as self-guided tours and short-term rental platforms, look set to change the prospect and resident experience and the way in which com- munities are sta ed. Preparing for the Tech Tsunami “We are bracing ourselves for a technology tsunami,” says Mike Brewer, Executive Vice President of Operations with RADCO Residential. “Our residents and pros- pects’ tastes and expectations are changing, and some exciting new technologies are coming to market that can di erentiate companies both in the experiences they o er and the e ciency of their operations.”