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Latest findings from IREM’s Income/Expense Analysis®:
- Staff costs = 23% of operating expenses
- 40% of time spent on administrative tasks
- AI automation can reduce admin work by 60%
How are you optimizing your team’s time?
#PropertyEfficiency #MultifamilyOps #PropTech #RealEstateManagement
A few thoughts on how to translate those insights into action:
Treat any automation initiative like a mini-change management project:
- Clearly communicate the “why” behind the change
- Provide ample training and ongoing support
- Gather employee feedback early and often
- Celebrate efficiency wins and recognize adopters
- Measure and report time savings and productivity gains
With the right approach, you can turn cutting-edge research insights into real operational efficiencies. Start small, iterate often, and keep your team at the center. Before long, you’ll be turning saved admin hours into new strategic initiatives that move the needle for your entire portfolio.
What part of your property management operations do you think has the most potential for AI-powered optimization?
#AIforMultifamily #BoostProductivity #AutomateToElevate #WorkSmartNotHard
