“The 2025 State of AI in Multifamily,” a new report from EliseAI, finds that artificial intelligence (AI) adoption in property management has reached critical mass, moving from experimental to essential.
Surveying 280 executives at companies with over 200 employees, the study shows early adopters capturing significant advantages across key performance metrics as well as widespread adoption. Over two-thirds of respondents, 68%, said they have integrated AI into existing business systems, while 86% noted they are running multiple pilots simultaneously.
In addition, nearly three-quarters of respondents, 71%, reported they are increasing AI investment year over year, while 70% said they are allocating significant dedicated budgets for AI. Looking ahead, 82% said they expect AI to replace several traditional roles by next year, with 70% allocating significant dedicated budgets for AI.
“The State of AI in Multifamily report makes it clear how quickly AI has become foundational for multifamily operators,” says CEO Minna Song. “Nearly 7 in 10 companies already have AI built into their business systems, and most are running multiple pilots at once. That tells you this is the new baseline for housing and adoption.”
The survey found that 77% of operators using AI reported moderate to significant reductions in operating expenses. In addition, 85% said they have seen measurable improvements in lead-to-lease conversion rates.
Another notable funding from the survey is around resident satisfaction: 85% of AI adopters cited improved satisfaction scores, with faster maintenance resolution, 76%, and improved renewal rates, 77%.
“One of the strongest findings was around operating costs. More than three-quarters of executives said they’re already seeing operating expenses go down,” Song says. “There have been a lot of discussions around the question could AI improve return on investment in housing—the data makes it clear AI is delivering real impact on the bottom line.”
In a surprising finding, 78% of respondents reported that they lost new business opportunities to their AI-enabled competitors.
“Almost every executive said they’ve lost at one deal to a competitor using AI, and most expect AI will be table stakes for leasing within the next two years. In housing, speed and efficiency is essential—AI is already giving operators that edge,” notes Song.
The report also noted respondents’ concerns when it comes to AI: the majority, 61.4% cited cybersecurity vulnerabilities, followed by resident data privacy concerns and vendor lock-in or integration issues, each at 52.1%; and regulatory uncertainty, at 50%.