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<\/p>\nAs more landlords and property managers are integrating artificial intelligence into their operations,\u00a0they found\u00a0two major benefits \u2014 more seamless renter experiences and less need for human staff.<\/p>\n
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\n Bisnow\/Ciara Long\n <\/p>\n
\n Andrena’s Michael Weiss, ESRT’s Jackie Renton, RXR’s Jarrod Whittaker, AvalonBay’s Micah Parker and Parity’s James Hannah onstage at Bisnow’s 2025 New York Multifamily Development and Operations Conference.\n <\/p>\n
New York City renters are paying\u00a0more than ever before<\/a> to live in their apartments. In return,\u00a0they\u00a0expect services like round-the-clock responses from landlords and pragmatic building amenities, industry executives said Tuesday at\u00a0Bisnow’s New York Multifamily Development and Operations Conference.<\/p>\n So despite real estate’s famed reluctance to embrace new technology, owners who\u00a0have only recently begun\u00a0exploring AI<\/a>\u00a0applications are seeing increased tenant satisfaction and reduced payroll expenses.<\/p>\n \u201cYou can’t rapidly change rent performance in any market,\u201d RXR<\/a> Head of Operations Jarrod Whittaker said onstage at Convene One Liberty Plaza. \u201cBut you can look strategically at operating expenses to see where technology can be used.\u201d<\/p>\n With the median rent in Manhattan in September coming in at $4,550 a month, plus\u00a0$3,925 in Brooklyn and $3,650 in Northwestern Queens, according to\u00a0Douglas Elliman<\/a>, renters expect the level of service and spaces to match their high price tag.<\/p>\n \u201cIt used to be multifamily [was] commoditized, \u2018Give me an apartment, don’t talk to me, I’ll call the super if\u00a0something’s broken,\u2019\u201d\u00a0Rudin<\/a>\u00a0Head of Multifamily Raymond Houseknecht said. \u201cThen, hotel, five stars, someone\u2019s waiting on you, hand and foot. They\u2019ve merged.\u201d<\/p>\n \n Bisnow\/Ciara Long\n <\/p>\n \n Citrin Cooperman’s Blake Boshnack, Charney Cos.’ Rosie Tilley, Warshaw Burstein’s Sam Marchese, Carmel Partners’ Lee Bloch and Gotham Organization’s Simeon Maleh onstage at Bisnow’s 2025 New York Multifamily Development and Operations Conference.\n <\/p>\n Even amid record low vacancies and high rents, tenants are willing to find somewhere new to live if they feel that their expectations aren\u2019t being met \u2014 whether that\u2019s a gym that doesn\u2019t have enough machines or a hard-to-reach manager.\u00a0<\/p>\n \u201cThey expect a very high level of service,\u201d said Aida Stoddard, senior vice president of development at\u00a0MAG Partners<\/a>. \u201cThey want top-notch, white glove service and they will leave your building in a heartbeat if they feel they\u2019re not getting that.\u201d<\/p>\n Landlords are increasingly leaning on AI and digital automation to meet those demands, with proprietary apps, chatbots and online portals so that tenants can get answers to queries and responses to maintenance requests fast.\u00a0<\/p>\n When\u00a0AvalonBay<\/a>\u00a0Communities switched from physical paperwork to online filings in 2008, it saw efficiency gains right away, the REIT\u2019s vice president of operations, Micah Parker, said onstage. Three years ago, it turned to AI in the hopes that staying on top of the latest technology would add to tenant stickiness.<\/p>\n \u201cWe all know we can’t afford to have our communities open 24\/7, 365, staffed, with people on-site,\u201d\u00a0Parker said. \u201cSo we really look for AI alternatives that would be available to be able to meet the customer’s questions.\u201d<\/p>\n \n Bisnow\/Ciara Long\n <\/p>\n \n Keynote speaker Jonathan Rose, of Jonathan Rose Cos., and Goulston & Storrs’ Debbie Horowitz onstage at Bisnow’s 2025 New York Multifamily Development and Operations Conference.\n <\/p>\n AI\u00a0has\u00a0helped landlords\u00a0trim some fat from operations<\/a>. Multifamily usage of AI had led to a 10% savings on employee payrolls, a 15% increase in renter retention and a 5% improvement in tenant satisfaction, a February survey from the\u00a0National Apartment Association<\/a>\u00a0found.<\/p>\n Some property owners at\u00a0Bisnow\u2019s event said AI is especially useful for tasks that can be easily automated,\u00a0such as chasing renters for arrears<\/a>, signing leases and taking in maintenance requests.<\/p>\n Landlords\u2019 AI adoption means that basic, day-to-day tasks in apartment buildings are slowly becoming operations that don\u2019t require human input,\u00a0Empire State Realty Trust<\/a>\u00a0co-Head of Real Estate and Chief Operating Officer Jackie Renton said. The new efficiencies are leading to savings.<\/p>\n \u201cIt was a very pleasant surprise that we realized our collections were up and we reduced maybe four hours a week of manpower,\u201d she said. \u201cYou can diversify across your portfolio and really create scale that way.\u201d<\/p>\n \n Bisnow\/Ciara Long\n <\/p>\n \n NFP’s Erin Rogol, Lendlease’s Lath Madi, MAG Partners’ Aida Stoddard, SGA’s Reza Rahimpour and Rudin’s Raymond Houseknecht.\n <\/p>\n RXR has created its own AI chatbot that automatically answers questions from prospective tenants, such as what apartments are renting for, and to help existing tenants with issues like billing queries, Whittaker said.<\/p>\n AvalonBay has also reduced its headcount and the staffing costs that come with it by incorporating AI, Parker said.\u00a0<\/p>\n<\/p>\n<\/p>\n<\/p>\n