3 ways a Multifamily chatbot can help your Lead-to-Lease Cycle

Multifamily leasing in today’s economy and housing crisis is more competitive than ever. Over the past few years, we’ve witnessed renter trends change dramatically. 

Renters have come to expect a certain level of convenience when it comes to finding a new rental home. They have the luxury of searching online and getting fast results within their desired criteria across multiple rental listing sites; but make no mistake - they’re competing too, against other renters. 

What can a leasing agent do to stay ahead of the curve and meet these demands? One answer lies in more technology - an online chatbot. Chatbots have been around for ages, but are newer to the multifamily industry. Today, you can choose a chatbot created for the rental market, to help shorten the lead to lease cycle and work as your AI leasing assistant.
 

Read on to see how adding a chatbot to your website can help you overcome pain points in your lead-to-lease efforts. 
 

1. You’ve likely definitely lost leads due to restrictive office hours or lack of agent availability

You may already be aware of this, but it can be hard to prove or get an exact number for your loss rate. If a prospect calls and doesn’t get an answer or timely call-back, they’ll move on. If you don’t respond to their email until the next business day, they’ve already inquired or applied to a few other properties instead. 

This is where a chatbot comes in. It can help users find a unit within their criteria, and provide pricing, photos, video, or even a virtual tour within seconds. The chatbot works to provide this info 24/7, on any device. While your website already has this information available - the chatbot adds a layer of confirmation, speeds up the search process and can also lead the prospect to your preset ‘call to action’ (ie: book a tour, submit an inquiry, etc.). 
 

2. You’re spending too much time returning calls and emails to renters (many unqualified), leaving you with less time in front of actual, qualified prospects. 

Pre-qualifying a lead is such a huge aspect of leasing. Undertaking that administrative task alone can rack up the hours in your already busy schedule. Time is money and when you’re spending it answering questions and responding to emails from prospects that aren’t serious or aren’t a fit for what you have available, it’s costing you. 

A good multifamily chatbot can assist with pre-qualifying leads through its conversations by:

• Asking the right questions
• Providing accurate answers
• Leading prospects through a pre-determined journey to get to the desired call-to-action
• Closing the loop in an ask to get the lead into your hands 

Taking even a portion of the frequent Q&A off of your plate will free you up to spend time where you need to be - in front of qualified rental prospects. 


3. Starting off with a good first impression

You have a charming, informative and responsive leasing team, so how hard could it be to make a good first impression? Unfortunately they are not the first touch point for a property or brand. It all starts online. 

A chatbot on your website can act as your ambassador for that first interaction. By making the prospect's journey easier and quicker, you’re showing them that you value their time. By communicating with them in the medium they’re most comfortable in, it tells them that their wants and needs are considered and will continue to be, if they become your tenant. And finally, by providing them with accurate and up-to-date information, it builds trust and confidence in you and your company. 

All in all, a chatbot is a fantastic, low-effort way to connect with your renter prospects and start them on that lead to lease journey!