What does AI mean for your future as a PM?

Local partner Dynamic Methods is working to allow AI to intelligently fill in legal forms for sales and leasing agreements.

Artificial Intelligence (AI) is more than a buzzword – it's a powerful opportunity to revolutionise how you operate as a property manager. 

Imagine moving from reactive problem-solving to proactive prevention, freeing up your time and enhancing every aspect of your service. While there's understandable enthusiasm for AI, the reality is that most of us are self-taught with a significant lack of formal training.

This should not be regarded as a barrier but an invitation to explore how AI can genuinely empower you and elevate your professional life.

Despite 81% of PMs believing they have an understanding of AI and its capabilities, most of this knowledge is self-taught. Research published last year found 87% of PMs had no formal training. 

Historically, training has often focused on legal and compliance issues, which are vital, but less on the advanced skills needed for future technologies like AI. While 57% of businesses are currently experimenting with AI, and some AI is already embedded in property software, agencies with smaller rent rolls are less likely to be utilising AI. Australian research suggests 50% are not yet on board.

Specialist suppliers, such as local partner Dynamic Methods (owner of Forms Live) are now working with the Model Context Protocol (MCP), developed by Anthropic, to help you use AI to intelligently fill in forms that are legally required for property sales transactions and leasing agreements. 

AI presents a unique career opportunity. If your agency isn't offering comprehensive AI training, you can show leadership by seeking out appropriate resources, online courses and industry webinars. You can advocate for investment in structured programs that equip your agency with the necessary skills.

Here’s a glimpse of the transformative power of AI in your day-to-day:

Predictive maintenance 

Imagine a system that flags potential maintenance issues before they become emergencies. AI can analyse historical data, sensor readings and even weather patterns to predict when an appliance might fail or a pipe could leak, allowing you to schedule repairs proactively and delight both tenants and landlords.

Optimise rental pricing

Ever wondered if you're hitting the sweet spot with your rental prices? AI can analyse market trends, comparable properties, vacancy rates and even local amenities to recommend optimal pricing. It will ensure your owners maximise their returns and you minimise vacancy periods.

Improved service 

While the human touch remains irreplaceable, AI-powered chatbots can handle common tenant queries, provide instant answers to FAQs and streamline routine communication. This frees you up to focus on complex issues and build deeper relationships.

Streamline admin: You're likely already using AI in some form, perhaps without even realising it. Tools like ChatGPT are proving invaluable for drafting communications, summarising documents and automating repetitive administrative duties. Modern Property Management Software (PMS) applications are now being designed with an "AI-first” approach, embedding intelligent features directly into your daily workflow.

In the next five years, it's widely expected that you'll be more tech-enabled than ever before. This isn't about replacing your role but augmenting it, giving you superpowers to manage more effectively and strategically.