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Yardi Introduces RENTCafé Chat IQ

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Property management chatbot engages renters via chat and text using artificial intelligence and machine learning

Apartment management companies can now respond instantly to customer inquiries with RENTCafé Chat IQ. The innovative chatbot developed by Yardi uses a combination of artificial intelligence and natural language processing to answer questions unique to each company and property.

Chat IQ improves the customer experience for renters by providing immediate, intelligent and accurate responses to chat and text messages even when a business is closed. The bot uses information from a property’s database and can be trained to give custom responses on any topic. Leasing agents may join a conversation in real time. Property staff can view aggregated chat information in a dashboard that displays data by channel, average dialogue length and more.

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“RENTCafé Chat IQ uses natural language processing and machine learning to converse with potential renters. It understands improper grammar, abbreviations and misspellings, so those aren’t communication setbacks,” said Patrick Lawler, senior director of RENTCafé development at Yardi.

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Chat IQ also has conversion rate optimization features to guide website visitors to view available units, schedule tours or apply online. The product helps property management companies convert more prospects by delivering better service, more quickly at a time when an increasing amount of rental processes are occurring virtually.

“With the limitations placed on face-to-face interactions during the COVID-19 pandemic, property managers are experiencing an uptick in digital communications from prospective renters,” said Esther Bonardi, vice president of marketing at Yardi. “RENTCafé Chat IQ ensures properties never miss an incoming leasing opportunity via chat or text, day or night, and it frees up onsite staff to focus on high-value interactions with applicants and residents.”

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