Property management is a field that requires an exceptionally high level of analytical skills from the internal stakeholders. An average property management specialist has to track multiple internal tasks related to a property, such as maintenance and bills, and analyze the market to sell or lease the property. All this is in addition to communication tasks and the need to travel between different locations. In this light, the schedule of a typical property management specialist is highly likely to be overloaded, leading to excessive pressure and potential burnout in the long term.
Is there a solution to this problem? Is it possible to remove tedious tasks and allow the experts to focus on more creative and productive projects, such as customer communication or general business analytics? In our opinion, yes! Technology that can help in this regard is custom AI for property management. 2025 is the year of artificial intelligence in almost every sphere of human activity, including real estate. According to the Adecco Group, one of the largest recruitment companies in the world, its survey of 35000 workers indicates that even in its current rather basic state, artificial intelligence already saves up to 1 hour of work for most workers. A significant minority (2025) saves two hours and more daily with this technology. Considering this information, those companies and experts who fail to leverage this technology will likely encounter significant disruptions in their everyday work in the upcoming years.
Ultimately, there are four ways in which AI can improve decision-making within the property management industry. Let’s review all of them in depth:
Opening a path for strategic decision-making
Excessive workloads are a recipe for failure: they usually result in losing motivation and lower efficiency. This is especially true of tedious tasks like manual document management, which is common in property management. Ultimately, two problems can arise from this disposition in the property management field.
Firstly, property managers are likely to encounter significant schedule fragmentation: their typical workday may include several commutes and document management sessions in between. As a result, this problem can quickly lead to fatigue and decreased efficiency, making those tasks even more complicated and effectively creating a negative spiral.
Secondly, the tasks themselves, even if more concentrated, are likely to create a significant source of productivity-decreasing stress in the long term. Human willpower necessary to maintain attention is an exhaustible resource. As a result, property managers who have to work with many documents and look through every tiny detail in them are likely to experience burnout much faster than other workers. Detail-oriented work, such as that in the real estate industry, is psychologically the most difficult for humans.
Artificial intelligence can finally solve this problem once and for all. Modern artificial intelligence tools can perform most of the tedious tasks mentioned above. Firstly, they can automatically track most of the payments and incoming information about the state of properties (for example, water consumption), generating easy-to-read reports for property managers. Secondly, modern AI also includes document scanning and image deciphering capabilities. In this light, it can quickly prepare everything you need to manage payments or sign different types of contracts (for example, lease or sale-oriented ones). Using this technology, property managers can significantly decrease paperwork and focus on more strategic tasks.
Decreasing error rates
Errors in accounting and other calculation-heavy fields are widespread, often costing the global economy billions of dollars. Property management is among those calculation-heavy fields: one has to pay many bills, review taxation information, and manage incoming data about resource consumption. Since the cost of real estate is very high these days, this, in practice, means that the potential losses from errors are simply too prohibitive (for example, massive fines) to take lightly. Coupled with the very structure of work in the real estate field, this factor inevitably results in the heightened risk of various errors.
How does AI solve this problem? Apart from decreasing the overall pressure on real estate managers, it also does one more important thing: artificial intelligence can prevent errors more centrally. Primarily, AI can automate many simple tasks: a combination of more traditional algorithms and generative frameworks will make the possibility of mistakes here negligent. More importantly, AI can review the work of property management specialists in more high-stakes areas and offer recommendations to avoid errors. The technology is excellent for detecting erroneous patterns in data or even downright showing major mistakes. In this way, it removes a significant amount of pressure that is typically associated with the task of property management.
Finding new creative solutions
Artificial intelligence is also a potent tool for creativity, often essential in property management. It can review large amounts of data and then produce high-quality insights on this information. Sometimes, it may offer something genuinely innovative by analyzing multiple data sources within your business. Property managers can, thus, not only benefit from stress reduction but genuinely implement something new and unexpected through this type of system. One thing is clear today: the rise of AI-driven business management is inevitable, and property managers can significantly benefit from it. Models like ChatGPT can create quite advanced business ideas, so leveraging this advantage is essential in the modern world.
Conclusion
To summarize, the artificial intelligence revolution is inevitable and will affect the property management industry significantly. In this regard, we recommend looking at proprietary solutions like ChatGPT to improve strategic decision-making and custom frameworks aimed at companies combining generative AI and machine learning for unique benefits. If you’re interested in the latter option, the best approach is to find companies with at least five years of custom development experience and knowledge of AI implementation, like Keenethics.