When we’ve started sharing cabs and workspaces as a less expensive and greater efficient choice, why can’t we do the equal with residential spaces? The acceptance of a shared economic system around the sector became the using concept. At the same time, StayAbode started operations in August 2016 with the concept of building hostels for quick-term lodging requirements. It leverages generation, design, service, and branding to construct co-residing areas for the condominium residential actual property market at scale. “We build a mix of private and communal areas which include living rooms, kitchen, etc. Some such spaces are underutilized and our. “Our goal is to grow the condominium yield from 3-four% to ten-eleven% due to higher area utilization. If we can accommodate greater human beings on one ground, then we can be capable of getting a higher fee out of each property,” defined Chhajer.
StayAbode has five homes across Bengaluru on its platform. It converts every belonging into supplied residences for young operating specialists who have come to a new metropolis and could stay for less than a yr. The start-up works on an inventory model in which its alternatives up to belongings and provides a layer of offerings. It earns a month-to-month condo from every one of its residences for the extra service, including housework, software bill payments, safety, maintenance, and renovation, amongst others which it’s miles offering to its customers, but the purchaser pays one single rate for the belongings. “We perform systems—for residents and a body of workers. The residents’ app can offer statistics together with who lives next door, who else stays inside the building, leases, and so on. This is the customer-facet of things,” stated Chhajer.
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It uses algorithms to boost the efficiency of the offerings such as housekeeping and safety that its miles presenting its clients. It uses the workforce app for tracking, scheduling, and auditing these services. StayAbode’s margins are 15-30%. StayAbode raised angel investment from a consortium of buyers led by Ishan Manaktala and Angie Mahaney in February. It was used for technology and crew construction.
1. The software offers real-time information access
Most property management solutions are cloud-based, which means that you can easily access all kinds of information and important data in real-time. As a property manager or owner, you do not have to be present in person at the office just to see what software data is there. All data and information that is important is collated in one place and remains available at any time and place, making accessibility and data management very simple.
2. Property management software offers more security
These specimens companies build a comprehensive secured environment when developing software, including recovery and backup modules, firewall, and encryption.
3. It offers you excellent scalability
With advanced management software for your property, you will easily cater to all property sizes. You can start with minimal features for smaller properties and then expand further, upgrade and do any relevant enhancements to the software to cater to the needs of a bigger property. It simply means that management software.