Reconfiguring Property Management Operations With AI
HK Multifamily Management CEO Ajay Banga on integrating automation and digital tools to support scale, consistency and performance.
From leasing and resident communication to maintenance and reporting, AI and automation are increasingly replacing traditionally manual processes. For landlords and management companies, this pivot is enabling greater scale, while improving efficiency, performance and cost control.
At California-based HK Multifamily Management, these changes have translated into a more fundamental shift in how the business operates. As both an owner and a third-party property manager, the company has moved away from a traditional model toward a more strategic, technology-driven approach.
In this interview for Multi-Housing News, CEO Ajay Banga discusses the operational implications of AI and automation, highlighting how they’ve streamlined his company’s operations.
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Tell us a bit about HK’s background and its evolution into a vertically integrated multifamily platform.
Banga: We began as investors in single-family homes in the 1990s, building a strong foundation in disciplined asset management and operational execution. In 2005, we acquired our first multifamily asset, which marked a strategic shift in our focus.
As we continued to scale, we saw an opportunity to create more value through direct control of operations. Rather than relying on third-party managers, we transitioned into self-managing our portfolio, allowing us to refine processes, improve performance and build a more efficient operating model.
Today, HK Multifamily has evolved into a vertically integrated platform and we’re now expanding into third-party management, bringing a technology-driven, performance-focused approach to larger multifamily assets.
Before leaning into AI and automation, how would you describe your original approach to property management? What were the key pain points that drove change?
Banga: Our original model was highly traditional and labor-intensive—very hands-on and reactive. Leasing decisions required weekly meetings. Pricing adjustments were manual. Rent collection involved physical deposits. Reporting was time-consuming and maintenance workflows relied on paper-based systems.
As we scaled, we rebuilt our operations from the ground up using automation and integrated technology. Dynamic pricing now adjusts automatically based on demand and vacancy, while rent and late fees are fully automated, with secure digital payment systems. Lease renewals are system-generated, eliminating negotiation inefficiencies, while leasing and document execution are fully digital. Weekly reporting is auto-generated and standardized across assets.
Additionally, maintenance is tracked in real time through mobile systems, improving speed and accountability. All communication is centralized through CRM platforms, giving us full visibility into performance and service quality.
One of the most impactful upgrades has been our make-ready process. Our digital make-ready planner tracks unit turn KPIs, including days-to-complete and performance across assets. We monitor purchase orders at the unit level, giving us precise visibility into materials, costs and budgeting. Moreover, vendor scheduling is streamlined and can be executed with the click of a button, significantly reducing downtime between tenants. What used to be fragmented and manual is now streamlined, data-driven and fully scalable.
Was there a specific moment that made you rethink the traditional model and explore this technology-driven approach?
Banga: Yes. There was a clear realization that time was becoming our most limited resource. As we grew, it became obvious that continuing to operate manually would limit our ability to scale. I was spending too much time on tasks that could be automated.
Once we began building out and customizing our Yardi platform, we saw the potential immediately. The level of automation and flexibility allowed us to operate consistently across multiple states while maintaining control and performance. That’s when we fully committed to a technology-first approach.
What specific operational challenges pushed you to invest more heavily in AI-driven systems?
Banga: Scale and consistency were the biggest drivers. Managing properties across different markets introduces complexity—staffing, leasing velocity, reporting and oversight all became harder to control. We needed systems that could standardize operations, reduce reliance on manual processes and improve decision-making in real time, all while controlling costs. AI and automation allowed us to build a more scalable and efficient operating infrastructure.
Which parts of the property management workflow have seen the biggest impact from AI in property management so far?
Banga: Leasing and communication have seen the most immediate impact. AI-driven systems now handle a large portion of inbound calls and inquiries, providing prospects with real-time information on availability, pricing and amenities. This allows our teams to focus on higher-value responsibilities like closing leases, improving the resident experience and driving asset performance rather than handling repetitive tasks.
Could you share a concrete example where automation or AI directly improved performance?
Banga: One of the biggest improvements has been in lead conversion and application completion. Our AI doesn’t just respond to inquiries—it actively assists prospects throughout the leasing journey. It provides instant property information, follows up consistently and helps guide applicants through the process. This has significantly improved response times, reduced lead drop-off and created a more efficient and trackable leasing pipeline.
There’s a lot of hype around AI in multifamily today. Where is it genuinely delivering value and where is it still falling short?
Banga: AI is already delivering real value in day-to-day operations, especially in leasing, communication, reporting and workflow automation. Anything repetitive or process-driven is being significantly improved. Where it’s still evolving is in more nuanced, high-touch interactions that require human judgment. But the technology is advancing quickly.
Our philosophy is simple: If you’re not innovating, you’re falling behind. Because your competition is already moving ahead.
In this context, how do you see the role of property managers evolving over the next few years?
Banga: The role is shifting from task execution to performance management. Instead of being focused on day-to-day administrative work, property managers will oversee multiple assets, analyze automated reporting and focus on strategy, resident satisfaction and operational performance. We may see fewer onsite staff, with more centralized oversight supported by technology. The operators who embrace this shift will have a significant advantage.
What’s next for HK Multifamily Management?
Banga: We’re actively scaling our third-party property management platform statewide, focusing on larger multifamily assets where our technology-driven approach can deliver measurable results. Our goal is to partner with owners who are looking for more than just management, who want innovation, efficiency, as well as a competitive edge in an increasingly competitive market.
