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Meeting Renters Where They Are: How AI Is Reshaping the Multifamily Experience
Technology continues to change how we live, work, and connect – and today’s renters expect their apartment search and leasing journey to keep up. Just like they shop online, book travel, or order groceries, renters want information and access on their own terms: anytime, anywhere, and from any device.
The 2024 NMHC & Grace Hill Renter Preferences Survey, based on more than 170,000 renter responses, highlights just how much expectations have shifted. Renters say they prioritize real-time pricing, availability, and floorplans online, and increasingly expect virtual tours, online applications, and digital communication options. Convenience is no longer a “nice to have.” It’s a deciding factor.
At WPM, we’re committed to meeting those expectations while also delivering stronger results for our clients. That’s where AI-powered tools come in. By adopting, testing, and refining these solutions, we’re creating more efficient, personalized experiences for residents, while driving measurable value for owners.
Performance That Adds Value
Across our multifamily portfolio, AI-driven engagement has made a measurable difference. We’ve seen a 33% increase in tours and a 38% increase in leases (Jan–July year-over-year), along with faster move-ins that reduce vacancy loss and boost net operating income (NOI). This level of responsiveness can mean the difference between choosing one property over another.
Across our multifamily portfolio, AI-driven engagement has made a measurable difference. We’ve seen a 33% increase in tours and a 38% increase in leases (Jan–July year-over-year), along with faster move-ins that reduce vacancy loss and boost net operating income (NOI). This level of responsiveness can mean the difference between choosing one property over another.
When compared to similar properties in the region, WPM communities are consistently outperforming. On average, our properties generated 23% more tours, 43% more applications, and nearly 10% more leases than the regional benchmarks.
These numbers highlight how our strategic use of AI, coupled with the power of WPM’s onsite teams, is helping properties deliver service excellence and stronger results. Not all management companies are approaching this with the same focus, and without effective use of AI, opportunities to better serve residents and improve outcomes for owners may be overlooked.
A Commitment to Improvement
As AI advances, these tools, when used strategically, help us keep pace with changing consumer expectations while strengthening operations and service. At WPM, we view AI as part of a cycle of verification, adjustment, and improvement, reflecting our broader commitment to continual progress and ensuring our performance creates value for both residents and owners. By analyzing the data and making refinements, we ensure these tools continue to drive engagement and efficiency. Just as importantly, this approach helps us identify new opportunities for coaching and process enhancements that strengthen our overall operations.
Looking Ahead
As AI continues to evolve, its greatest potential lies in moving beyond convenience to create more personalized and seamless experiences. For properties, that means anticipating renter needs before they ask, simplifying the journey from first inquiry to move-in, and freeing onsite teams to focus on the human side of service. What was once considered cutting-edge technology is quickly becoming the standard, and properties that use it well are positioned to deliver the kind of experience today’s residents not only prefer, but expect.
For WPM, it means making it easy for renters to search, tour, and apply across devices, while also streamlining move-ins and giving our onsite teams more time for relationship-building. It’s about using tools like AI to elevate what matters most: exceptional resident experiences and exceptional client results.