Few things tell the story of new real estate technology tools better than the case study. Done well, they showcase how a new technology tool can move the needle for a real estate operator, combining a qualitative narrative with quantitative and benchmarked results.
Of course, not all case studies meet that bar; some are little more than glorified marketing materials churned out by vendors with little regard for scientific rigor. Operators must also be careful to find evaluate case studies through the lens of relevance; results from a portfolio of small scattered buildings may not be applicable to large, institutional assets.
Today’s deep dive report will showcase the best PropTech case studies of 2025. These case studies, typically published by vendors in partnership with real estate clients, provide a unique lens into:
- Vendor management, rewards, energy management, and more;
- Where AI is working today;
- The technology tools succeeding for top operators like AvalonBay, BXP, Related, and more;
- How less is sometimes more.
Case Study #10: VendorPM and Colliers
Why we like this case study: In our view, vendor management is one of the most underappreciated applications of AI and automation today. In this case study, a new vendor management tool was able to achieve org-wide adoption while driving cost savings.
Colliers Chicago partnered with VendorPM to address site-level administrative burden and vendor-related risk across its managed portfolio. Prior to implementation, vendor onboarding, credentialing, and procurement were handled through fragmented and manual processes, creating inconsistencies across buildings and increasing exposure to non-compliant vendors. The objective was to standardize vendor lifecycle management while reducing workload for on-site and regional teams.
VendorPM was deployed as an end-to-end platform covering vendor management and credentialing, procurement and eTendering, and contract management, with integration into Yardi. The rollout supported office, commercial, and industrial properties across more than 300 buildings in the Chicago market, encompassing approximately 56.1 million square feet under management. The system was used by 47 site-level and executive users.
Post-implementation results showed a marked improvement in vendor readiness and procurement outcomes. Through a streamlined compliance process, 86.2 percent of vendors completed Colliers’ specific requirements and became pre-approved to work with the firm. At the point of project award, compliance increased to 96.3 percent of awarded vendors, enabling faster project starts and reducing administrative and operational risk.
Procurement outcomes also improved. By sourcing bids through VendorPM’s competitive and transparent bidding process, Colliers Chicago achieved average project costs that were 17.7 percent under budget. These savings were attributed to stronger price discovery and improved vendor selection rather than scope reductions.
Case Study #9: Related Companies and Bilt
Why we like this case study: While rewards apps are often seen as a “feel good” product, this case study features some of the tangible benefits that Related Companies saw from its integration with Bilt.
Related Companies deployed Bilt as a payments, rewards, and leasing platform across its luxury rental portfolio to support leasing, retention, and resident engagement objectives. As of mid-2025, more than 13,000 units were live on the platform, with over $1.2 billion in rent payments processed. Bilt was integrated into Related’s leasing and resident communications workflows and positioned as a core benefit from the initial prospect outreach through renewal.
Related’s primary objectives were to differentiate properties in competitive urban markets, improve on-time rent payments and retention, simplify leasing workflows, and create incremental revenue while reducing traditional marketing costs. Bilt was introduced early in the leasing funnel, including in prospect welcome emails, as a benefit that allows residents to earn rewards on rent and access local neighborhood offers.
Under the implementation, residents automatically earn points on rent payments and can redeem rewards across travel, dining, rideshare, fitness, and future rent payments. Residents also gain access to Neighborhood Benefits™ at local merchants, while properties use rewards as leasing and renewal incentives. Bilt integrates directly with Related’s existing Yardi systems, enabling streamlined lease presentation, communication, and analytics without requiring parallel workflows.
Since launch, residents across Related’s portfolio have earned more than 320 million Bilt Points, representing approximately $6.5 million in estimated value at no direct cost to the owner. Of those, 147 million points have been redeemed, and residents have used Neighborhood Benefits™ more than 2.5 million times. Related reports that the platform supports automated rewards for renewals, birthdays, and resident milestones, alongside real-time visibility into resident engagement and spending patterns.
From a financial perspective, Related receives revenue participation on eligible resident spend within the Bilt merchant network and from onboarding new merchants, while reducing reliance on gift cards and other manual marketing incentives. The company also reports cost savings by replacing traditional giveaways with points-based rewards delivered through the platform, supporting leasing and retention goals without adding operational complexity.
Case Study #8: Funnel Leasing Roundup
Why we like this case study: Funnel Leasing chose to publish data from a number of different customers – including Redstone and Quadreal – demonstrating its lift in centralized leasing models. It’s also notable that one of Funnel’s customers cited reduced employee turnover as a positive outcome of the technology.
Centralized leasing has emerged as an operating model in multifamily property management that consolidates leasing, lead management, and administrative workflows into shared, technology-enabled teams. Rather than relying exclusively on on-site staff, centralized leasing uses CRM platforms, automation, and AI to manage prospect communication, tour scheduling, and lease processing across multiple properties from a unified system. The objective is to reduce redundancy, improve response times, and scale operations while maintaining service quality.
Several large operators have reported measurable outcomes after adopting centralized leasing models supported by renter-centric CRM and automation platforms. Redstone, a national student and multifamily housing provider managing approximately 35,000 units, implemented centralized leasing with AI-supported workflows and a flexible support team to address seasonal demand. Redstone reported a 33 percent increase in lease conversion rates at centrally supported sites, a 12 percent lift in lead-to-tour conversions, and a 26 percent improvement in lead velocity. AI-powered tour scheduling alone contributed a 6.5 percent conversion lift.
Kane Realty Corporation, a 6,000-unit owner and operator, adopted an end-to-end centralized leasing platform combining CRM, AI, online leasing, and move-in automation. Kane reported a 46 percent tour conversion rate for AI-handled prospects compared to 19 percent for non-AI interactions, an 18 percent year-over-year increase in application-to-lease conversion, and a 47 percent reduction in approval times. Task completion increased 83 percent despite a 77 percent increase in task volume.
QuadReal, with roughly 10,000 units, transitioned to a renter-centric CRM and centralized leasing model and recorded a 33 percent increase in tour-to-lease conversion, with 66 percent of tours booked automatically. The RMR Group, managing 17,000 units, reported a 60 percent increase in lead-to-tour conversions, a 15 percent increase in resident retention, and eliminated turnover in a centralized assistant property manager role over a two-year period.
Across these examples, centralized leasing is associated with higher conversion rates, reduced manual workload, improved staff retention, and more consistent renter experiences when supported by integrated technology and organizational alignment.
Case Study #7: Asset Living and EliseAI
Why we like this case study: EliseAI continues to publish strong case studies on the impact of its technology across operational workflows. In this study, one of the top multifamily operators generated measurable results across task resolution, leasing, and collections.
Asset Living is a large U.S. multifamily operator, ranked No. 2 on the NMHC Top 50 Managers List, with more than 450,000 units under management across over 40 states and approximately 500 clients. Since 2020, the company has expanded rapidly, growing from roughly 70,000 units to its current scale and building a workforce of nearly 13,000 associates. This growth created operational pressure, particularly in leasing workflows, resident communications, and rent collections, as processes designed for a smaller portfolio became less effective at scale.
To address these challenges, Asset Living sought an automation platform that could support leasing, collections, renewals, and maintenance within a single system. The firm selected EliseAI and deployed multiple modules, including LeasingAI, Delinquency, Maintenance, Renewals, and VoiceAI, across its portfolio. The goal was to reduce repetitive transactional work for onsite teams while preserving in-person interactions where they add the most value.
Following implementation, Asset Living automated approximately 85 percent of transactional communications across the prospect-to-resident lifecycle. The platform reduced average task resolution times and helped ensure inquiries were addressed promptly. Nearly half of all inquiries occurred after hours, which LeasingAI handled without requiring additional staffing.
Collections metrics also improved. In the second quarter of 2025, communities using the Delinquency module experienced a 600 basis point increase in on-time rent payments. More than 130,000 personalized payment reminder messages were sent during this period. Asset Living estimates the tools generated approximately 72 hours per month of incremental capacity for onsite teams, while also contributing to lower bad debt.
Asset Living continues to expand its use of EliseAI, including newer products such as lease audits and AI-guided tours, as part of its broader strategy to support ongoing portfolio growth.
Case Study #6: Airbnb and Zumper
Why we like this case study: The impact of new technology can often be difficult to measure as it’s an experiment without a control. In this case, Airbnb worked directly with marketing platform Zumper to directly measure the uplift generated by Airbnb-friendly apartment communities, avoiding the counterfactual problems all too common in proptech case studies.
Between December 2024 and February 2025, Zumper evaluated the impact of merchandising “Airbnb-friendly” apartment communities on renter demand and property performance across its marketplace. The program allows residents to host part time on Airbnb while providing participating property managers with visibility and control over hosting activity. Zumper surfaced Airbnb-friendly communities through dedicated search filters and listing page indicators to test whether flexibility and affordability influenced renter behavior relative to comparable properties.
The study focused on approximately 150 Airbnb-friendly communities operated by Camden Property Trust and Equity Residential across five U.S. markets: Houston, Atlanta, Charlotte, San Diego, and Denver. Performance was benchmarked against similar communities matched on unit count, building class, and amenities, isolating the Airbnb-friendly attribute as the primary variable.
Across the measurement period, Airbnb-friendly communities outperformed peers on several key metrics. These properties generated 1.5 times more search impressions, 88 percent more property detail page views, and 64 percent more high-quality leads. High-quality leads were defined as first-click direct messages sent to a property, indicating higher intent to engage and convert. Forty-six percent of all leads for Airbnb-friendly communities met this high-quality threshold.
Both Camden Property Trust and Equity Residential enrolled in the program in late 2024 and saw measurable leasing impacts in the first two full quarters of participation. Camden’s Airbnb-friendly communities recorded a 182 percent increase in leases delivered and a 342 percent increase in unique renter leads year over year. Equity Residential experienced a 172 percent increase in leases delivered and a 143 percent increase in unique renter leads over the same comparison period, normalized for property count.
Following these results, participation in the Airbnb-friendly program expanded from two to five property management companies, representing a 150 percent increase. Zumper continues to test additional merchandising features, including renter awareness emails and integrations linking to Airbnb listings, to further evaluate demand signals and conversion behavior.
Case Study #5: BXP and Measurabl
Why we like this case study: We improve what we measure. The first step in generating energy cost savings is often simply measuring what is being used at any given point, which unlocks a host of optimizations including peak load management and demand results. This case study showcases how measurement can lead to savings.
BXP is the largest publicly traded developer, owner, and manager of premier office and life sciences workplaces in the United States, with a portfolio of approximately 53 million square feet across 185 properties and a 2.7 million square foot development pipeline. Its assets are concentrated in major gateway markets including Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C. The company has pursued long-term ownership and direct asset management as the foundation of its sustainability and operational strategy.
Beginning in 2012, BXP sought greater visibility and control over energy consumption across its portfolio. The primary challenge was centralizing data from diverse utility sources, identifying inefficiencies at scale, and supporting onsite teams in meeting increasingly stringent building performance standards. To address this, BXP invested in real-time monitoring infrastructure, pulse metering, and energy management platforms including Measurabl Optimize and EnerNOC.
Since 2011, BXP has deployed 308 commodity meters across 107 sites, enabling the use of interval data, automated alerts, and system-generated energy conservation measures. Measurabl Optimize integrates real-time data with weather-adjusted benchmarking and automated identification of inefficiencies, supporting daily decisions related to building automation system programming, peak load management, and demand response participation across more than 100 properties.
From 2017 through 2024, BXP implemented more than 18 million kWh of automatically generated energy savings measures through Optimize, resulting in approximately $2.2 million in avoided energy costs. Interval data also supported demand response participation, generating $5.3 million in payments over six years. Between 2008 and 2023, BXP achieved a 41 percent reduction in site energy use intensity. In 2023 alone, building teams used more than 1,500 weather-adjusted reports to benchmark performance amid changing occupancy patterns.
BXP reports over $50 million in cumulative avoided energy expenses from energy conservation initiatives across the portfolio. The company continues to expand its use of data and analytics, including AI-focused initiatives, as it works toward its stated goal of carbon-neutral operations by 2025.
Case Study #4: Venn and Charney Companies
Why we like this case study: The best implementations of AI and automation don’t just tackle a single workflow, they rework entire processes to generate dramatic efficiencies and improvements. This case study showcases such an overhaul in action for leasing administration.
Charney Companies implemented leasing automation at Union Channel, the first completed building within its Gowanus Wharf development in Brooklyn. The project comprises more than 2,200 planned units, with Union Channel representing an initial 224-unit phase that was approximately 60 percent occupied at the time of the case study. Charney adopted Venn as a unified platform to manage the resident journey from application through move-in, with the intention of scaling the system across the broader campus as additional buildings deliver.
Prior to implementation, leasing operations followed a labor-intensive process common to many lease-ups. Staff spent more than six hours per move-in handling application reviews, document collection, approvals, lease execution, and move-in coordination. Manual workflows required leasing teams to review PDFs of credit reports, pay stubs, and bank statements and assemble approval packets, often extending approval timelines to two or three days. These delays increased application drop-off risk and slowed lease velocity during a critical lease-up period.
After deploying Venn, Charney consolidated application intake, financial verification, approvals, lease execution, payments, utility setup, and move-in checklists into a single system. Application-to-lease execution timelines were reduced from approximately 2.5 days to under one day, and in many cases under one hour. Manual steps per lease declined from more than 14 to four, representing a 68 percent reduction. The move-in process time fell from over six hours to roughly 40 minutes, saving more than five hours of staff time per lease.
Charney estimates the operational improvements generate more than $231 in value per lease, including over $130 from faster application-to-lease conversion and approximately $101 from reduced manual labor. Based on projected lease-up across the full 2,200-unit development, Charney estimates total value creation in excess of $500,000. The company reports improved application completion rates, faster approvals, and higher operational consistency without adding onsite headcount.
Case Study #3: AvalonBay and Parity
Why we like this case study: adaptation of older assets to meet modern climate goals is one of the toughest problems in real estate today. This is particularly true in markets like NYC that face high construction costs and an impending wave of penalties from regulations like Local Law 97. This case study focused on old steam and central plant buildings – hardly easy pickings on the optimization front – and still yielded strong results.
AvalonBay Communities partnered with Parity, a remote HVAC optimization platform, to improve energy performance across a subset of its older multifamily properties in New York City. The initiative focused on steam and central plant buildings, a segment of the portfolio often viewed as difficult to optimize without major capital investment. The partnership began with a pilot across three Midtown Manhattan communities and has since expanded to cover the majority of AvalonBay’s New York City portfolio, with additional properties in Boston and Washington, D.C. planned.
To date, the program has generated more than $540,000 in utility cost savings while reducing carbon dioxide emissions by over 1,100 metric tons. AvalonBay also estimates the initiative avoided approximately $290,000 in potential Local Law 97 penalties and produced $30,000 in demand response revenue. According to the company, the guaranteed savings associated with the program have doubled as the rollout expanded.
Parity’s software-based approach allows AvalonBay to optimize existing HVAC and central plant systems without hardware retrofits. The platform provides continuous monitoring and real-time alerts, enabling engineering and maintenance teams to identify and resolve operational issues before they result in resident complaints or work orders. AvalonBay reports that this has improved operational efficiency while maintaining resident comfort in large, high-occupancy, energy-intensive buildings.
The current deployment includes 10 Manhattan communities, with four Brooklyn properties and two Boston communities scheduled to come online in 2026. AvalonBay is also preparing to extend the platform to properties in Washington, D.C. The company has stated that it plans to expand the program from an initial group of 16 buildings to the majority of its New York City portfolio, positioning the approach as a scalable model for decarbonizing older multifamily assets.
AvalonBay has set a goal to meet or exceed New York City’s decarbonization requirements by 2030 and views remote HVAC optimization as a core component of its broader sustainability and compliance strategy.
Case Study #2: The Michaels Organization and EliseAI
Why we like this case study: too often, technology tools are tailored to vanilla multifamily assets at the expense of other forms of housing. This case study demonstrates AI’s power in military housing, meeting the standards demanded by our nation’s armed forces.
The Michaels Organization expanded its use of EliseAI’s maintenance and leasing tools following measured performance improvements across its privatized military housing portfolio. Michaels is one of the largest U.S. owners and operators of multifamily housing, managing more than 75,000 units nationwide, including approximately 50,000 affordable units across 39 states. The organization has partnered with EliseAI since July 2023, initially deploying AI tools in student and market-rate housing before extending them to military housing communities.
Michaels has managed privatized military housing for the U.S. Department of Defense since 2004 and currently operates housing on 12 military installations. These communities require continuous, responsive maintenance operations with strict service-level expectations. Prior to adopting EliseAI Maintenance, Michaels relied on legacy systems and a centralized call center that limited visibility, strained onsite teams, and made it difficult to improve response times without additional staffing.
Under the EliseAI deployment, residents can submit maintenance requests via text, phone, or voice message at any time. AI-powered triage assesses urgency, routes true emergencies to on-call staff, and queues non-urgent requests for standard business hours. The system provides automated acknowledgments, appointment confirmations, status updates, and post-resolution follow-ups. Maintenance requests can be processed in more than 50 languages, supporting accessibility across diverse resident populations.
According to Q3 2025 data, 11,759 work orders were created by AI, representing 17 percent of all work orders across the portfolio. Of AI-generated work orders, 46 percent were closed on the same day. These outcomes reduced manual intake, improved adherence to service standards, and allowed onsite teams to focus on in-person resident service rather than administrative coordination.
Based on performance in military housing and earlier deployments in student and market-rate assets, Michaels plans to expand EliseAI Maintenance and related AI products across its affordable housing portfolio. The organization views the platform as part of a broader effort to standardize technology, reduce system fragmentation, and maintain consistent resident experiences at scale.
Case Study #1: ElevateOS and Northwood Ravin
Why we like this case study: sometimes, less is more. Here, a large, institutionally scaled multifamily operator translated technology consolidation into measurable revenue growth and cost reduction across a 7,150-unit portfolio, rather than treating resident apps as a soft amenity.
Case Study to be released soon
Between December 2022 and March 2024, Northwood Ravin, a Top 10 NMHC developer, operated with a fragmented technology stack that included five to six resident-facing apps per property. Across the portfolio, this led to app fatigue, limited engagement, stagnant amenity revenue, and technology spend exceeding $5 per unit per month. Non-rent revenue opportunities such as guest suites, fitness classes, and on-demand services were underutilized or unmanaged.
In April 2024, Northwood Ravin deployed ElevateOS portfolio-wide. From April 2024 through July 2025, the platform consolidated access control, package lockers, amenity booking, events, and resident services into a single branded application. App adoption reached 91 percent across the portfolio. Technology spend declined to roughly $1 to $5 per unit per month, generating estimated savings of $5 to $10 per unit per month across 7,150 units.
Revenue metrics shifted materially. Guest suite and amenity revenue increased from $379,967 in the pre-deployment period to $683,766 post-deployment, a $303,799 increase representing 44 percent year-over-year growth. A new in-app service marketplace, including offerings such as housekeeping, personal training, car detailing, and private chefs, generated approximately $480,000 in incremental revenue, averaging $30,000 per month, with a portion shared back with Northwood Ravin. Amenity utilization increased by roughly 80 percent, and centralized fitness booking reduced per-class costs from $100 to $70.
Operationally, integrated event planning tools reduced staff workload by an estimated 12 to 18 hours per month per site and standardized workflows across multiple access control and package locker vendors. Overall, the case study demonstrates how platform consolidation can drive both top-line and bottom-line results at scale.
-Brad Hargreaves
