RentCafe Chat IQ, Yardi’s AI-powered chatbot, is helping one million residential units with seamless communication. To celebrate this milestone, we spoke with Chat IQ’s biggest fans: top property managers in the industry. Discover why the industry loves this powerful bot and how it all creates a domino effect when it comes to driving efficiency in their organizations.
Backing it up with the numbers
“We’re thrilled about the unit milestone,” said Paul Yount, industry principal at Yardi. “It means that our valued clients trust us with their AI bot needs.”
This year to date, Chat IQ has handled over four million inbound messages for our clients. This resulted in over 225,000 hours saved, according to Yardi data.
One of the standout benefits is the improvement in what Yount refers to as “speed to lease,” or the time it takes for a prospect to become a resident. Chat IQ accelerated the time it took for a prospect to sign a lease by up to seven days.
“Days equal dollars when it comes to vacancy, so this is really improving not just the efficiency of the onsite teams, but the community and client’s bottom line,” Yount concluded.
About Chat IQ
Chat IQ answers prospect and resident questions around the clock through chat, email, text and calls. It frees up your staff to focus on higher-level activities they enjoy more than answering repetitive questions. Chat IQ instantly answers almost all customer inquiries, connects customers to your staff if needed and now includes support from Yardi when your staff is unavailable.
Our clients say it best
Chat IQ has garnered praise from top property managers for its outstanding performance and benefits it brings to their operations. Here are some of the key advantages that make this AI-powered bot an industry favorite.
Enhanced efficiency
Chat IQ can answer 97% of questions without needing to learn anything new, eliminating the need for constant data reentry.
Carrie Bakke, senior systems analyst at the Lund Company, shared, “In the first six months after we rolled out Chat IQ, we had an average of three leases per month that were generated entirely from the bot. It freed up approximately six hours a day spent answering questions. And all that information has been provided without our site teams having to lift a finger.”
More free time for your staff
Chat IQ allows team members to do more valuable and meaningful work, while providing the immediacy today’s consumers expect. “Chat IQ is there day or night, business day or holiday,” said Yount.
Leslie Henry, SVP at Towne Properties, notes, “After implementation, our site teams quickly realized how useful it was in gaining back time. They love how it filtered out less promising leads in the beginning. We let them customize some aspects of the responses so there was more of a personal human touch.”
Proven ROI
For others, Chat IQ is simply about the return on investment.
Jason Gherardini, SVP of IT at Sares Regis Group, highlights the value Chat IQ brings, saying, “We get true ROI with Chat IQ from the first conversation, discussion, all the way to lease. It’s a good product.”
Latest AI update
We’re excited to announce that Chat IQ is now more efficient, more impactful and more streamlined with several AI enhancements:
- Customizable brand tone: Chat IQ matches your company’s unique voice and style, creating consistency in each conversation
- OpenAI ChatGPT integration: Prospects and residents will enjoy more natural, human-like interactions
- Better interactions: Chat IQ now responds dynamically to questions, moving beyond templated responses to provide a more interactive experience
- Multi-question handling: Seamlessly address multiple questions in a single chat, such as, “What’s the pet policy, the nearest dog park and the pet deposit?”
- New voice options: Personalize your bot with new voice options
These enhancements are designed to make Chat IQ an even more powerful tool for property managers, driving efficiency and improving the overall resident experience.
Get Chat IQ on your side
As we continue to innovate and improve Chat IQ, we remain committed to helping property managers achieve greater success and efficiency.
Book a demo and discover how Chat IQ can revolutionize your property management operations.
