AI: The Future of Business | Mic’d Up with RPM

In today’s rapidly evolving multifamily industry, technology, and artificial intelligence (AI) are no longer futuristic concepts—they’re here, shaping how properties are managed and transforming customer experiences. In the latest episode of Mic’d Up with RPM, host Tony Sousa dives deep into how AI and tech are changing the game for multifamily today and the path forward.

The episode features Patrick Antrim, Chairman of the Multifamily Innovation Council and CEO of Nectar Flow, and Scott Pechersky, Chief Technology Officer at RPM Living. Together, they bring a wealth of expertise to discuss the current tech landscape in multifamily, shifts sparked by the pandemic and where AI might take us in the years to come.

The Current State of Multifamily Technology
Scott begins by dispelling the misconception that multifamily has lagged in technology adoption. While historically the industry may have been cautious, he emphasizes the surge of innovations from startups and tech vendors in recent years. This influx has brought advanced property management tools and AI applications that are helping multifamily operators streamline processes and provide better services to residents. However, Scott notes a challenge: owners sometimes hesitate to invest the resources needed in technology, especially when focused on quick asset turnover, as the value of these long-term tech investments may not align with short-term financial goals.

Patrick offers a broader perspective, viewing multifamily as a “wealth creation machine” that has traditionally been slow to disrupt a profitable formula. He points out that while rents and revenues have risen, the market conditions are shifting. With rising debt, operational costs, and other economic pressures, there is now a pressing need for adaptation.

Understanding AI in Multifamily
AI has become a buzzword across all industries, and in multifamily, it’s no different. Scott explains that while AI often means automation, it goes beyond that—it’s about creating systems that can think, analyze, and assist property managers with tasks previously managed by humans. This can include predictive AI, which uses data to forecast outcomes, and generative AI, which can create new data and insights from existing information. As Patrick points out, AI’s transformative potential in multifamily is vast, comparable to the advent of electricity in the industrial age.

Generative vs. Predictive AI: What’s the Difference?
To break it down, predictive AI in multifamily uses data to make projections, such as forecasting occupancy rates or predicting maintenance needs. Generative AI, on the other hand, actively creates new data. It can help in marketing, generating unique content, or even creating 3D
models of properties for virtual tours. Both types are essential for moving the industry forward, as they allow multifamily operators to manage assets more efficiently and enhance the resident experience.

The Role of Senior Leadership
The transition to AI and tech-driven property management isn’t just about software—it requires a cultural shift. Leaders must be at the table, advocating for data-driven decisions and technology as essential tools for success. Scott emphasizes that understanding AI’s capabilities and limitations is critical, and having senior leadership onboard ensures that the necessary investments in data infrastructure and processes are made.

Patrick echoes this sentiment, highlighting the need for a unified approach where real estate fundamentals meet technological leverage. For him, AI is an “accelerator of human potential” rather than a replacement, emphasizing that organizations can accomplish more when leaders understand both the financial and operational impacts of AI.

Vetting Tech Vendors
With many PropTech suppliers claiming to offer “AI-driven” solutions, Scott advises a close review. Not every company that advertises AI truly offers the level of sophistication that multifamily operators need. Proper vetting, including looking into a vendor’s technology stack and long-term stability, can prevent costly mistakes.

Patrick points out that while senior leaders don’t need to be tech experts, they should strive to understand the language of technology. A balanced approach to vendor selection can ensure that investments align with a company’s long-term goals rather than chasing the latest trends.

Embracing AI in the Multifamily Ecosystem
As AI reshapes the industry, leaders like Scott and Patrick suggest starting small. Whether it’s automating job descriptions or integrating chatbots, these incremental steps can build a foundation for more advanced AI applications. By fostering a culture that is open to experimentation and learning, multifamily companies can set themselves up for long-term success.

Patrick sums it up well: “AI is something you do.” For him, it’s about hands-on engagement—exploring, experimenting, and learning as you go. This approach builds confidence and opens up new ways to add value to the business, ultimately benefiting both residents and investors.

The multifamily sector may be at the beginning of its tech journey, but it’s a journey filled with exciting possibilities. As Patrick and Scott’s insights reveal, the key to navigating this tech transformation lies in education, experimentation, and collaboration. Multifamily leaders don’t
need to be tech experts, but understanding the basics of AI and embracing the process of change will enable them to make informed decisions that drive long-term value.

Whether you’re a property manager, investor, or simply curious about the future of multifamily, this episode of Mic’d Up with RPM is a must-listen for anyone looking to understand the evolving role of technology in the industry. As Tony Sousa said in his closing, “Don’t be afraid—you’re not behind. If you’re listening to this, you’re probably already ahead.”

About RPM Living: RPM Living is a leading multifamily management company renowned for its innovative approach to real estate services. With a steadfast commitment to client satisfaction and a focus on personalized solutions, RPM Living has emerged as a trailblazer in the industry. Headquartered in Austin, Texas, the firm's national portfolio spans over 50 markets, managing more than 200,000 units and boasting an owned portfolio of $3 billion. Founded in 2002 by Jason Berkowitz, RPM Living continues to uphold its core values of integrity, excellence, and exceptional service.

For more information about RPM Living and its national portfolio, visit RPMLiving.com. Stay updated with the latest news and insights by visiting RPMLiving.com/blog. Listen or watch the third episode of Mic’d Up with RPM now on YouTube and Spotify.