Communication is a tough job for anyone, especially for property managers.
Being in the good graces of your residents is the key to success, and the way to get there is through meaningful, timely communication. Imagine being replaced in conversations when you don’t feel like talking to anyone.
Now, imagine if this was possible 24/7. This situation is the exact reason why property management chatbots were built. Property managers don’t have the time to answer questions from every resident, so chatbots are a cost-effective way to automate simple conversations.
A chatbot is a computer program that simulates human conversation through voice commands, text chat, or both (Investopedia). They’re an automated program that mimics human interaction to naturally keep conversations going. However, unlike humans, chatbots can respond at any time of the day or night.
Now there are two types of chatbots, one that operates on a set of guidelines and another powered by artificial intelligence, also known as machine learning (GCFGlobal).
Set Guidelines Chatbot
When operating on a set of guidelines, the bots responses are limited to more specific commands or phrases. This restriction may cause the conversation to feel choppy and disconnected, as the bot can only provide a set amount of answers.
With these types of bots, they’re only as knowledgeable as they’re programmed to be and can’t improve their conversational flow. Rule based chat bots can run into many issues as they’re not designed with any artificial intelligence behind it. For example, they aren’t equipped to respond to typos- which can cause user dissatisfaction.
Machine Learning Chatbot
Unlike the previous chatbot, machine learning chatbots are able to improve their conversational flow over time. They are programmed to respond as if speaking to a real human being, and the more you text them, the better they become.
Not only does the number of inquiries the bot can answer increase over time, but the accuracy of the answers also improves through each conversation.
To answer this question, we partnered with multiple property managers to conduct a survey, so you don’t have to. We spoke with over 10,000 homeowners from over 100 unique communities. What we found was that 93% of homeowners wanted to be able to text with their management team.
This percentage could come from the fact that texting is the most efficient way for homeowners to communicate with property managers, or it could simply be because texting will never be considered “old technology.”
Smartphones equipped with email and texting capabilities are available to homeowners of all ages. The sender and recipient can communicate on their own schedule, which makes it a preferred method of communication. Communication between humans is hampered by availability. Chatbots are ideal since they are available 24 hours a day, 7 days a week. The property managers will respond to homeowner's questions immediately without having to wait for a callback.
Yet, property management chatbots don’t only benefit homeowners. They’re also good news for the managers themselves. Text messaging for HOAs is a cost-efficient way to improve operations.
Instead of spending more resources on hiring new employees and training them, chatbots can help assist the current employees so they can focus on higher-level tasks.
Not only that, but chatbots also prevent human errors when communicating information to homeowners. Managers can prepare answers beforehand to avoid spelling mistakes or update answers already stored in the system to provide up-to-date information at all times.
Chatbots are an amazing way for property managers to increase efficiency while decreasing the long hours spent responding to every question they receive.
There’s currently a massive labor shortage that's effecting the industry, so bots are becoming a viable solution to fill this gap. Property management chatbots can help the labor shortage by automating tasks and providing a 24/7 presence. By automating tasks, chatbots can help to free up time for employees so they can focus on other tasks.
Additionally, chatbots can provide a 24/7 presence, meaning that they can help to answer questions and resolve issues even when employees are not available. This can help to improve customer service and satisfaction.
Now that you’re interested in chatbots, what’s next? If you’re a property manager interested in setting up a chatbot for your communities, check out STAN. for further information.
STAN can integrate with your existing property management platforms to pull data such as account balances, homeowner information, and other essential information. This way, all of your information is centralized so you don’t have to go searching for it. A few of these applications are TOPS, FrontSteps, Vantaca, YARDI, and more!
Or just contact us to see a live demo of our chatbot.