Employees remain essential to making the technology work
AI Is Reshaping How Apartment Operators Handle Collections And Finance
Ari Apartment Management’s use of AI to scrutinize residents’ ability to pay has helped it close months with delinquency of about 0.5%, an early indication of where apartment operators see practical value in the technology. For multifamily investors, the immediate opportunity is not simply lower staffing costs, but stronger collections, faster financial reporting and more time for on-site teams to focus on resident service.
Speakers at RealPage’s RealWorld Conference in Denver said the most effective AI strategies pair operational data and disciplined processes with employee training and clear guardrails.
Use AI To Strengthen Operations
Apartment operators are expanding their use of AI across finance, collections and centralized operations. But panelists stressed that adopting the technology is less important than applying it thoughtfully to existing workflows and data.
“Leveraging AI best is not about who’s first in using it, but who’s most thoughtful,” said Cinnamon McCauley of RealPage.
That distinction matters for owners and investors evaluating technology investments. AI can amplify the operational data a company already has, but its results depend on the quality of the underlying process and the people responsible for managing it.
Put Guardrails In Place
As AI capabilities advance, companies need a deliberate approach to adoption, said Krissie Silver of Raintree Partners.
“You have to stay curious, but be patient,” Silver said.
That includes establishing an AI usage policy that spells out what employees can and cannot do with the technology, as well as the platforms they are authorized to use. “Set guardrails,” she said. “Let them know what platforms they’re allowed to use.”
Ari Apartment Management recently formed an AI task force that includes employees from across the organization. The goal was to bring multiple perspectives to the company’s strategy rather than relying on a single decision-maker, said Lari Waskey of Ari Apartment Management.
“We wanted to have trusted opinions,” Waskey said. “We didn’t want to rely on a one-person tunnel vision.”
Focus On Performance, Not Cuts
For Ari, one early benefit has been collections. The company is closing out months with delinquent payments at about 0.5%, Waskey said, based on AI’s analysis of residents’ ability to pay.
Still, Waskey warned operators not to treat AI-driven efficiency as a reason to reduce headcount. Employees remain essential to making the technology work and to managing the processes around it.
“You have to have your employees stay to make it work,” she said.
The message for investors is that AI may improve operating performance without necessarily replacing the people who run the property. The larger benefit may come from redeploying staff toward work that supports resident experience and asset performance.
Screen Your Tenant Today!
Gain peace of mind with AAOA’s credit, criminal, and eviction reports.
Centralize Financial Processes
At Dayrise Residential, AI is helping employees shift time away from routine administrative work and toward customer service, said Bridget Liberti.
“Don’t just set it and forget it,” Liberti said. “You have to update your employee training so they can learn to work alongside AI.”
Dayrise uses a centralized management system that relies on bulk closeouts to reconcile finances at month-end. By streamlining the process, the company no longer has to wait for on-site teams to complete and send their closeouts before the accounting department can act. The work is handled at the corporate office.
That approach requires a consistent process, Liberti said. She compared AI to clay in a potter’s hands: It must be in the right condition, carefully managed and shaped to produce the intended result.
Operators also need to move quickly when a tool is not delivering results, according to Liberti, while recognizing that implementation will not always be seamless. “If it’s not working, you must change it out quickly,” she said. “At the same time, keep in mind there’s nothing that will happen without a hitch.”
Source: GlobeSt.
Accessibility