Smart Property Management: How To Leverage AI and Automation

Managing rental properties can be cumbersome. For example, you might be juggling promoting multiple units, dealing with difficult tenants, and staying on top of rent collection. As a landlord or rental property manager, you’ve got to be SMART—both literally and figuratively.

Enter smart property management—the use of modern technologies to manage your residential or commercial properties more efficiently and effectively. And when it comes to this, three tech trends stand out: 

• Artificial intelligence (AI)
• Robotic process automation (RPA)
• Software for landlords

In this article, you’ll learn what smart property management is and how AI, RPA, and property management software can help. Read on to discover how to leverage these technologies to manage your real estate assets.

What Is Smart Property Management?

Smart property management involves utilizing the latest technologies, such as AI, RPA, and software to manage various aspects of properties—whether residential or commercial. 

While AI excels in predictive analysis, RPA is best suited for tenant communication and financial management. Other technologies include the Internet of Things (IoT) for enhanced security, cloud computing for tenant data management, and blockchain for secure transactions. Property management software like RentRedi is crucial when it comes to streamlining all of your rent collection, data, documents, maintenance requests, listings, and tenant screenings—and making them accessible from your phone or desktop

A clear distinction exists between property management and smart property management. The former simply revolves around essential functions like listings, screening, maintenance, and collections. The latter seeks to use technology to enhance process efficiency, tenant quality, and real estate return on investment (ROI).

Still clueless about how smart property management works? Here are a few examples:

• Property listings and tenant screenings: The perfect example is the use of property management software to screen tenants and list properties. 

• Tenant communication and management: Take RentRedi, for example, by changing the property management game.

• Rent collection and financial management: For instance, use automated landlord payment software for rent collection.

• Regular maintenance and potential repairs: Case in point: The use of maintenance data gives you greater control over your property investment portfolio by taking urgent action to make immediate repairs.

• Property security and access control: Think of smart home features, such as smart security systems, to promote safety and security within your property.

Real estate stakeholders, including homeowners, landlords, and investors, are capitalizing on smart property management due to its potential benefits. Its global market is projected to grow from 1.25 billion in 2024 to 3.5 billion in 2033 at a 12.5% compound annual growth rate (CAGR). That’s why investing in such kinds of tools/ platforms is a great idea! 

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Discover more about the use of AI and RPA in managing properties below.

The Use of AI and Automation in Property Management

The rapid technological innovation and digital transformation are evident across different industries—including real estate. 

Global tech leaders identified the technologies they considered most essential for their operations. The top technologies are AI, with a whopping 58% of all respondents, followed by cloud computing (26%) and robotics (24%).

As you can see, AI and RPA are on top of the list for game-changing technologies. Here’s what you need to know about them and how they apply to property management:

Artificial intelligence (AI)

AI entails incorporating human intelligence into technologies like computer systems and digital tools. This intelligence enables machines to think and work like human beings. Generative AI (Think ChatGPT), conversational AI (consider chatbots), and voice assistants (like Siri and Alexa) are perfect examples.

In property management, you can use GenAI for learning more about real estate. You can utilize AI-powered tech to eliminate tasks and increase your real estate industry knowledge. Lastly, AI-driven platforms can help with financial forecasting and reporting for your rental properties.

According to The Business Research Company, the global AI market in real estate is projected to grow from $303.06 billion to $988.59 billion at a 34.4% compound annual growth rate (CAGR). Given its market growth and expansion, it’s a good idea to explore this as a property manager.

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Robotic process automation (RPA)

It’s easy to see the automation of various functions or operations in several companies and organizations. The primary goal for its adoption is to improve process efficiency—to eradicate manual work and expedite tasks. That’s where RPA comes in!

Specifically, RPA uses digital bots to automate routine and repetitive tasks. For property management in real estate, you can use this technology for data analysis, document processing, lease agreements, rental accounting, and maintenance reporting. 

The worldwide RPA market is forecast to grow from over $7 million this year to more than $13.00 million by 2030. With its market growth, it’s a good idea to research this technology for your property management, especially if you’re handling multiple properties.

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Learn how to streamline your smart property management using AI and RPA in the next section.

How To Leverage AI and Automation for Smart Property Management

The use of AI and RPA is a game-changer in real estate, particularly for smart project management. It helps promote process efficiency, data organization, and accurate predictions, among others.

According to DELTA Media Group, realtors leverage AI for property listings (82%), content creation (67%), and social media posts (60%). For property management, you can use this technology for various functions, from generating content ideas, writing listing details, and exploring more about the real estate market and industry.

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Meanwhile, property managers also take advantage of RPA for process automation. They do this to reduce manual work and accelerate tasks.

So, how do you maximize your smart property management? Here’s how to leverage AI and RPA for this:

1. Automate property listing, marketing, and screening

Automation with rental property software helps with listing your properties on various channels, promoting them on different platforms, and screening prospects who have shown interest. Here’s how to leverage automation for the following functions:

• Property listing: Automatically publish your listings across multiple platforms like Zillow or Realtor.com. This saves time and ensures your property stays visible to potential renters.

• Real estate marketing: Promote your properties using RentRedi’s custom website builder and shareable links to post across your socials, text, email, etc. 

• Tenant screening: Speed up the process by automating background checks, credit reports, and rental history reviews. RentRedi’s partnership with TransUnion provides landlords and property managers with access to full credit, criminal, and eviction history reports for every tenant screened.

Adrian Lorga, Founder and President at 617 Boston Movers, recommends taking advantage of automation in real estate. Having worked with realtors and renters, they’ve seen how useful automated tools like RentRedi’s software for landlords are.

Lorga says, “Automation takes a lot off your plate. From listing properties to screening tenants, the right tools save time and help you move faster—literally and figuratively.”

Tools can personalize email content, auto-schedule social media posts, and generate property descriptions based on MLS data or uploaded photos. Some platforms include options for voice over licenses, which allow agents to add narration to promotional materials without hiring voice actors. For brand consistency, custom voice AI can be used to create a unique voice that represents your agency across all media.

2. Create centralized landlord-tenant communication

As a property manager, it’s crucial to communicate with your prospects effectively and tenants regularly. For one, it’s best to have a singular landlord-tenant platform integrated with automation to organize data and communicate with renters. 

Leon Huang, CEO of RapidDirect, suggests using technology to engage with renters for managing their rental properties.

Huang explains, “A unified platform makes communication smoother for everyone involved. Whether you’re managing properties or running a business like ours, having one place to connect with clients and partners keeps things efficient and stress-free.”

3. Take advantage of accounting software integrations

Finance is the most vital aspect of property management. Whether you’re renting or selling residential or commercial properties, the ultimate goal is to boost your ROI. In addition, property management software can help manage your finances. Here’s what you can do:

• Rent collection: Automate rent reminders, payment processing, and receipts to save time and ensure timely collections—no more chasing tenants or tracking payments manually.

• Bookkeeping and accounting: Use rental property accounting software to automatically track income, expenses, and invoices in one place, helping you stay organized and ready for tax season.

• Financial forecasting and reporting: Generate real-time financial reports and use AI-driven insights to forecast cash flow, budget accurately, and make data-backed decisions for long-term growth.

Learn from Gary Hemming, Owner and Finance Director at ABC Finance. They capitalize on software automation powered by AI to handle finances, especially when offering loans to real estate buyers and investors.

Hemming shares, “When you automate financial tasks, you gain both clarity and control. Whether it’s rent collection or forecasting future income, using smart tools helps you stay on top of your numbers and focus on growing your investment portfolio.”

4. Harness the power of predictive maintenance

Predictive maintenance is another key feature of smart property management. This requires setting up digital twins while utilizing IoT for property monitoring and AI for informed decision-making. The U.S. Department of Energy cites that predictive maintenance can help save 8-12% on preventive maintenance and up to 40% on reactive maintenance. 

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• Regular upkeep: Employ IoT sensors to monitor equipment performance and schedule maintenance before issues arise, thereby extending the life of property assets and preventing costly downtime.

• Necessary repairs: AI can analyze data to predict when systems like HVAC or plumbing are likely to fail, allowing you to address problems proactively instead of reacting after something breaks.

Take it from John Grant, Founder & CEO at Premier Bidets, who recommends ensuring you’re leveraging predictive maintenance for smart homes legally.

Grant says, “Predictive maintenance in commercial settings must also align with legal obligations. Landlords often carry responsibility for structural repairs, while tenants may handle internal systems. These distinctions are typically outlined in a commercial lease, and failure to comply can result in disputes or claims.”

Automation tools can help track and document maintenance logs to support legal compliance.

5. Give your property security a boost with smart tech

Finally, security is a top priority in property management. As much as possible, you want to keep your properties—and your tenants—safe and secure at all times. So, what better way to promote this than to leverage smart technology? Here’s how:

• AI-integrated surveillance systems: Use smart cameras with AI capabilities to monitor your property in real-time, detect unusual activities, and reduce false alarms for more effective security.

• Automated property access control: Implement keyless entry systems that use biometrics or mobile apps, making it easier to manage who can enter and exit your property securely.

• Incident detection and emergency alerts: Leverage sensors and AI to quickly identify incidents like break-ins, fires, or water leaks and send instant alerts to property managers and emergency responders.

Nicolas Breedlove, CEO of PlaygroundEquipment.com, recommends utilizing smart technology for enhanced safety and security. 

Says Breedlove, “Smart technology is a game-changer for property security. It not only helps keep tenants safe but also gives property managers peace of mind by catching problems early and streamlining access control.”

Final Words

Smart property management can be a game-changer in real estate—literally and figuratively. It can significantly improve your processes, whether for property listings and tenant screening or property maintenance and repairs. Ultimately, it can translate to a boost in real estate ROI!

When it comes to smart property management, consider harnessing the power of software for landlords, AI, and RPA. While AI can assist in predictive maintenance and financial forecasting, RPA and software like RentRedi can accelerate processes like property listing, tenant screening, and centralized communication. 

Leverage RentRedi, AI, and RPA to see how your property management attracts and wins both tenants and money for good! As a property manager or landlord, consider using RentRedi’s automated property management software. Sign up now to get access to the robust dashboard!