It seems the world has developed a love-hate relationship with AI. As each industry tries to find uses for AI, it’s pretty clear AI can help improve efficiency. Here we look at why AI could actually be the future of condo property management based on its potential uses.

A Focus On Human Contact

Instead of replacing humans, AI can actually open opportunities to improve human contact. Because AI can take on time-consuming, repetitive tasks, it will help free up time for your board and management members to focus on helping condo residents.

When AI takes on tasks such as collecting fees, sending out notices, automated responses, scheduling, payroll, etc., your team can focus on one-on-one service that meets the needs of your community.

Reducing Board Member Burn Out

As AI takes over a growing number of property management tasks, board members will reduce the risk of burn out. Instead of spending endless hours on repetitive administrative tasks, they can also work on the most engaging aspects of management. As a result, you can reduce churn and they can lead more balanced, higher quality lives.

Leveraging Chat Bots for FAQs

Machine learning is enabling chat bot AI to recognize questions and adapt answers to streamline everyday enquiries. Although no one likes the idea of talking to robots, those everyday questions that require quick to the point instructions or answers can make residents feel heard.

As long as you don’t make it harder for residents to speak to an actual person, you can more efficiently help meet your community’s everyday needs.

Resident Maintenance Requests

AI-powered maintenance request forms can generate automated responses and trigger processes once a request is received. AI has the ability to not only understand a request, but determine who needs to see it, how to respond to it and even schedule a follow up when it sees a request has not been addressed.

Automated notifications streamline the process and can be programmed to respond based on a set of maintenance urgency levels. Service providers can also be included in the automated notification process, triggering automated service call requests once repairs are approved.

Maintenance and Energy Efficiencies

AI generated real-time monitoring systems are a critical tool for predictive/preventative maintenance for systems including:

• Plumbing
• Elevators
• HVAC
• Electrical
• Security
• Smoke alarms/sprinklers

Automated notifications are sent when issues are detected or based on recommended service schedule dates.

AI can also track energy use for lighting and HVAC systems, adjusting systems based on building temperature, time of year, weather conditions, time of day, etc. to reduce costs.

Resident Self-Serve Options

Residents desire personalized experiences that make their lives easier. AI can be applied to several aspects of resident service including:

• Booking amenities
• Online support for community questions or issues
• Online fee payments
• Online repair requests and complaints
• Automated committee volunteer sign up requests based on past involvement
• Text reminders for critical events such as meetings or community events
• Remote access to amenities or units when a keycard is lost
• Sending out personal greetings for milestones such as birthdays or move-in/purchase anniversaries
• Data driven decisions to improve resident experience

Safety and Security

AI-powered security systems monitor the entire property in real-time making residents feel safer and reducing risk for crime. You can also reduce risks by learning about vulnerabilities and receiving alerts for issues such as burned-out light bulbs to keep all areas of the property well lit.

As you can see, AI could be the future of condo property management. It can help improve management/board efficiencies, provide better resident service, and discover efficiencies in maintenance and energy use creating happier communities.

The condo experts at CPO Management Inc, a full-service property management company in Toronto and the GTA, has the experience you need to leverage AI technology, realize cost savings and improve your board’s responsiveness. Reach out to us today to learn more about our condo services.

Soc: AI could very well be the wave of the future for property management thanks to these exciting innovations.