AIM 2025: Survive or Thrive

Survive or Thrive: Tenant Expectations in the Era of Instant Gratification

In their engaging session, Dana Dunford and Richard Matricaria challenged multifamily operators to rethink their operations in light of shifting renter expectations. With humor, real-world data, and practical advice, the speakers showed that operators who lean into speed, convenience, experience, and trust will not only survive—but thrive.

Matricaria kicked things off with a stat that captured the room’s attention: Amazon would lose $1.6 billion annually if their website slowed down by just one second. This set the tone for the discussion—today’s residents live in a world shaped by Amazon, DoorDash, and Uber. They expect simplicity, speed, and 24/7 service—and they’ll leave if they don’t get it.

Dunford laid out four key shifts every operator must embrace: speed, convenience, experience, and trust. The first, speed, is non-negotiable. She explained that 64% of Gen Z renters abandon slow digital experiences, and being the second to respond to a leasing inquiry usually means losing the lead. But speed doesn’t have to come with heavy staffing costs—non-generative AI tools like voicemail drops can instantly reply to tenant inquiries and personalize the message. Dunford demonstrated a voicemail tool that sends a tailored message within seconds of an inquiry. The call recipient hears a real voice, and if they return the call, they’re routed to a live human—preserving authenticity while maximizing efficiency.

She then transitioned into generative AI, cautioning that it's not suited for all use cases—especially those requiring emotional intelligence. Tasks like rent increases or scheduling maintenance can be automated. But breaking bad news, handling sensitive issues, or responding to distressed residents should remain human-led. Dunford emphasized a guiding question: Is this a high-EQ or low-EQ task? High-EQ tasks require empathy—AI isn't ready for those yet.

Next came the shift toward convenience. Dunford shared that 87% of Gen Z and millennials value convenience over price. That means an apartment complex that’s $50 more per month could still win if the leasing, service, and renewal processes are easier. She pointed to lease renewals as a low-hanging opportunity: if the process is complex or slow, residents will look elsewhere. Operators should offer single-click renewal options and remove unnecessary friction.

To support her point, Dunford cited data from Hemlane’s platform showing that 28% of renters want to tour a property within 24 hours of booking, and another 44% want to see it within 48 hours. Limiting tours to weekends might mean missing out. Their internal study showed tour interest was evenly distributed across all seven days of the week—yet many teams only staff tours part-time.

Dunford then addressed the power of experience. She cited Adam Neumann’s newly funded residential venture, which promotes intentional community living. Despite his rocky history with WeWork, he raised $100 million because he tapped into what residents crave—authentic, human experiences. In fact, 76% of Gen Z say they prefer experience-based perks over tangible ones.

She shared the results of an “$8 study” conducted on Hemlane’s platform. Renters were given the choice between two packages: one with practical benefits like renters insurance and credit bureau reporting, and another that offered random monthly perks (like a free coffee or sandwich). Surprisingly, renters opted into the experience-based package 166% more often. Her takeaway? Call it “tenant perks,” not “resident benefits”—and make it fun, not corporate.

Dunford stressed that trust, the final shift, hinges on transparency and reputation. She encouraged operators to proactively manage Google reviews and collect feedback at every touchpoint, including after maintenance requests and renewals. In-app surveys asking “How did Spencer do on the faucet repair?” can quickly identify happy residents, who can then be nudged to leave a positive review.

She also encouraged using small incentives—like a $5 coffee gift card—to prompt reviews. With this approach, she claimed, it’s possible to generate 100 reviews in 30 days. Considering 93% of renters check reviews before leasing, reputation is now a bottom-line issue.

Tying everything together, Dunford emphasized the importance of operational ecosystems. If your AI tools can’t talk to your lease data, your repair history, or your CRM, the “smart” assistant becomes clueless. Data fragmentation hinders contextual AI decisions, which will be essential as AI gets faster, more humanlike, and more embedded in operations.

The session closed with a call to action: Don’t wait for renters to change. They won’t. Operators must move faster, personalize experiences, and make every interaction seamless—because those who do will not just retain residents—they’ll outpace the competition.