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Property management software company HappyCo has released an artificial intelligence solution that can automate a wide range of critical tasks common to maintaining multifamily rental property, the company announced Tuesday.
JoyAi — an in-house, trained large language model — “automates and optimizes everything from real-time scheduling and technician-matching to 24/7 resident communications, intelligent inventory management and remote technician expertise,” according to the announcement.
HappyCo’s centralized maintenance model will help manage day-to-day tasks and maintenance requirements, specifically in the assignment of work orders with site-specific tasks and technician deployment based on specialty and location within a portfolio of properties. It also handles the categorization and reporting of work orders, a critical component for optimizing profit margins and bookkeeping, and delivers follow-up alerts and status updates.
“We’ve had hundreds of conversations with property owners, managers, and technicians to pinpoint their biggest challenges around centralization — maintenance topped the charts,” HappyCo. CEO Jindou Lee said in a statement. “Labor shortages, inventory management stop gaps, and highly manual scheduling have delayed repairs while incurring unnecessary costs and lost time for too long. At HappyCo, we’re proud to give maintenance operations and teams the attention and innovation they deserve.”
The solution also keeps residents in the loop on progress in real-time, offers avenues to amend requests and engage with the system. The model updates technicians’ skills and project histories to ensure the best person for the job is always assigned to it. Additionally, it tracks parts and inventories against budgets and spending to ensure financials remain balanced, rush shipping can be alleviated and small orders don’t plague a property’s bottom line.
Citing data by J. Turner Research, HappyCo found that maintenance staffing is one of the rental industry’s leading labor concerns. It’s not uncommon for landlords and investors to “hoard” good handymen for that reason — they’re too difficult to replace.
Artificial intelligence is moving fast in the rental market, too. Another tech player in the category, Colleen, rolled out its own AI-fueled platform for collecting past-due rent earlier this week. Canadian firm LetHub is now using AI to reduce friction in the leasing experience while EliseAI markets a solution that helps professionals automate the entire tenancy lifecycle.
In 2023, Inman interviewed Chrissie Rivers of Dominium, the developer of affordable homes, who said maintenance task execution would be an ideal application for AI.
“Property management companies are tasked with managing a vast array of properties, from commercial buildings to residential units,” Rivers said. “With AI, however, property management companies can streamline the maintenance request process and ensure that all requests are dealt with promptly and efficiently.”
Credit reports, employment verification and rental history can all be collected automatically and analyzed, she said.
“For example, AI can use machine learning algorithms to evaluate an applicant’s credit score, employment history, criminal record and social media presence,” Rivers said. “This can help property management companies make more informed decisions about who they allow to rent their apartments.”
