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IMG Speaks on Multifamily AI Innovation at CRETech Webinar
Woodland Hills, CA – October 4, 2024 – CRETech hosted a global webinar this week featuring a panel of experts discussing cutting-edge AI applications in multifamily management. Moderated by Emily Wright, Head of Content at CRETech, the virtual event brought together industry leaders to explore how digital platforms are enhancing resident engagement, streamlining operations, and preparing property owners for future innovations—all while ensuring properties remain competitive in an evolving market.
Julie Flesner, Communications Director at IMG, participated as a panelist. Since 2015, Flesner has spearheaded onboarding initiatives for IMG’s Investor Relations, Asset Management, and vertically integrated Property Management teams, utilizing automated and AI-powered tech solutions to strengthen property operations and reporting data. She joined experts from Livly, AppFolio, SALTO Systems, and Berkshire Residential Investments to share insights on the emerging technologies transforming the rental housing industry and highlight strategies for property managers, asset managers and owners to adapt and thrive.
Finding the Right Integration Partners
A key takeaway for organizations looking to adopt AI solutions is the importance of finding integration partners that align with the company’s vision and can support customization. Flesner emphasized that building out a centralized platform and aggregating complex data to make informed business decisions is asset management’s ultimate goal of implementing AI and automation. For property management teams, AI services are implemented to reduce office and maintenance staff workloads.
IMG’s vertically integrated teams rely on leading tech partners such as Elise LeasingAI, Livly, and RevolutionRE who provide support through the full multifamily investment lifecycle. The panelists agreed that the best integration partners offer robust integration support with underlying property management software systems. The objective is not just to implement AI but to build scalable systems that streamline operations and enhance resident satisfaction securely and efficiently.
As part of this commitment, a strong emphasis has been placed on staff training to ensure seamless implementation of these new tools. Flesner stated, “You can’t build out clean data pipes across property management, asset management, and ownership without training all end users on the new technology we are putting in front of them.”
The panelists noted that integration service providers are considered a top training resource, but their materials often require customization for an organization’s unique software systems and tech stack.
AI-Powered Resident Engagement
While AI has the potential to significantly streamline operations and enhance resident engagement, the panelists highlighted that its successful deployment requires careful setup. “AI is not magic fairy dust,” said Stacy Holden, Senior Director and Industry Principal at AppFolio. “It needs rules to function properly and must understand the nuances of your business operations.”
AI-powered services are actively utilized across IMG’s national portfolio of multifamily properties. Flesner stressed the importance of establishing clear guidelines for these systems. “AI must be integrated carefully to avoid creating frustration for residents or staff.” The panelists discussed how proper training and clear communication ensure that the technology is viewed as support, not a replacement for human interaction. AI’s value lies in augmenting, not replacing, human input.
A Commitment to Multifamily Innovation
The CRETech webinar panelists unanimously agreed that a thoughtful, digital-first approach can yield significant societal benefits, foster stronger communities and neighborhoods, and enhance the quality of life for thousands of residents within a multifamily portfolio. Each expert shared insight on future innovations in the multifamily space including voice-activated artificial intelligence and the use of AI in producing site maps and floor plans. Education and trust surrounding AI, they agreed, will be crucial in future product development.
A full recording of the webinar is available online. For more upcoming conferences and webinars, visit CRETech Events.
About CRETech
CRETech is the largest international community of professionals devoted to technological innovation in the real estate sector. Their mission is to drive tech adoption and innovation in the built world by organizing live large-scale conferences and online webinars where attendees learn from cutting edge content, discover new technologies to excel their businesses and network with industry peers. For more information, visit CRETech online.
About Livly
Livly was founded in 2017 to help improve the lives of residents and property operators everywhere. The Livly platform empowers multifamily, student housing, and condominium communities to be better managed and more responsive to their residents, staff, and property owners. The Livly Resident Mobile App is a residents’ all-in-one tool for apartment living, including paying rent, receiving package alerts, connecting with neighbors online, and more. Apartment communities across 150 U.S. cities use Livly’s unified, AI-driven technology to streamline tasks and elevate resident experiences. For more information, visit Livly online.
About Investors Management Group
Founded by Neil Schimmel, IMG is a nationally acclaimed real estate investment and asset management firm highly specialized in apartment communities. Our mission is to create vibrant, sustainable living environments through strategic investments and a commitment to community development. With a network of over 1,000 accredited investors, we strive to enhance the quality of life for our 5,000+ tenants nationwide and support the growth of local neighborhoods. IMG’s culture is characterized by innovation and a steadfast commitment to creating value in multifamily investments. Earlier this year, the firm received its second “Commercial Real Estate Visionary” Award from the Los Angeles Times. Learn more