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THE Residenz Solution Sdn Bhd launched a mobile application of its online property management system iResidenz today.
iResidenz is a portal that connects residents and homeowners of condominiums and gated communities to their management offices for payments, bookings, complaints, notices and so on, allowing the former efficient and real-time interaction and automating administrative tasks for the latter.
The portal was previously only accessible via web browsers. The iResidenz app was introduced with the aim of enhancing user experience, making access to the portal simple – the user does not have to enter the unique web address assigned that is assigned to each property every time they want to log in or specify their property before they are able to enter their user name and password.
Founder and CEO of iResidenz Ramesh Balakrishnan said that the startup is excited about the release of this much-awaited app.
“We’ve noticed that last year, about 30% of our users used their smartphone to access iResidenz via browsers. This number jumped to 40% this year. Therefore, mobility is absolutely important,” he said.
According to Ramesh, switching from the web portal to the mobile app is seamless as the app requires no changes to user login credentials.
“We’ve listed to customers, coupled their feedback with what we envisioned for a resident portal, and developed the iResidenz app to be a tool that fits into a modern lifestyle,” said Ramesh.
At this initial phase of release, the features available in the web version are offered in the mobile app. These include:
Bills and payments: Through this feature owners of residential units can view invoices and statements of maintenance fees and pay them through the app. iResidenz plans to allow tenants to view and pay their rent via the mobile app by end of this year.
Bookings: The portal allows residents to book a facility such as a function hall or tennis court using the mobile app. The booking feature provides convenience and saves time as residents can make bookings remotely and outside office hours.
Feedback: This feature makes submitting complaints and comments more efficient for residents. The app also lets users attach images. For example, if a user can attach a photo of malfunctioning equipment to the complaint for the attention of the management office.
iResidenz will gradually add more features now on the web version to the mobile app.
As of October, this year, iResidenz serves more than 50 properties in the Klang Valley, Johor and Sabah. It is targeting to have 70-80% of residents from these properties using the mobile app within a month of the app being released on Android and iOS.
The Android version of the iResidenz app is available for download now and the iOS version will be available before the end of this year.
John brings to iResidenz 15 years of vast professional experience spanning across fields related to real-time distributed apps, high-volume transactional systems, marketing technology, digital engagement strategies, and product management, vision and roadmap.
Ramesh Balakrishnan, CEO and Founder of iResidenz said, “We are delighted to have John to join our growing team. Now is a crucial time as we want to expand our market footprints to include more areas outside of Klang Valley. At the same time we also want to continuously enhance our cloud-based iResidenz portal to meet customer needs. We look forward to benefiting from John’s expertise in both technical and management roles to grow iResidenz together.”
Earlier this year iResidenz successfully secured a seven-figure funding round from Interbase Resources Sdn. Bhd. that runs popular marketplace of Lelong.my in Malaysia. The strong financial backup has helped iResidenz to focus on, not just expanding its team but to also strengthen its sales force.
iResidenz has already customers in Klang Valley, Johor and Sabah, and, it is looking to expand into cities including Penang in the near future.
The popularity of on-demand services has resulted in more and more industries entering the fray. Among them is property management, which involves not just paying maintenance fees, but also a two-way communication between the management and residents.
In the traditional setting, the limitation of office hours may make it rather inconvenient for residents to meet up with their building managers for any related issues. Likewise, building managers may find it somehow ineffective to disseminate information via the old school way — using notice boards.
To increase productivity and efficiency of property management, The Residenz Solution Sdn Bhd has developed a web-based property management portal called iResidenz, which streamlines everything on a single digital platform, says founder and CEO Ramesh Balakrishnan.
“iResidenz helps homeowners, tenants, resident committee members, management offices and property developers manage a strata development.
“For owners, tenants and property management offices, communication is made easier where payments, bookings of facilities, complaints, notices and others are available on the platform, 24/7, virtually. So there’s no more calling up or having to be physically present at the management office to make facilities booking or lodge a complaint.
“And for the management office, its paperwork is reduced through automation and they can also post up notices or contact any resident through iResidenz,” he tells EdgeProp.my.
On top of that, making cashless payments on iResidenz could reduce the mishandling and mismanagement of funding as the funds will be credited directly into the management’s account, adds Ramesh.
Prior to founding iResidenz, Ramesh was a web and software developer. The property management portal was one of his developments and he decided to expand it on a full scale.
Targeting high-end properties, iResidenz is currently providing its service to 54 strata properties across Malaysia, with the majority of them being high-end properties located in the Klang Valley. The start-up is hoping to grow its client base to more than 100 properties by the end of this year.
According to Ramesh, iResidenz has raised a total of seven-figure funding since its incorporation in May 2013. It recently raised a pre-series A funding earlier this March from Interbase Resources Sdn Bhd, the operator of online marketplace Lelong.my.
A freemium model
On setting itself apart from similar players such as Landlord and Advelsoft, Ramesh says the most unique selling point of iResidenz is its freemium model.
“iResidenz is provided at no cost or fee to properties. We also provide value-added services, which require a fee, such as doctor-on-call and service provider directory.
“Our premium features include real-time dashboard reporting that allows committees to view the happenings at the management office and tenant management for property owners to better manage rental collection. We will soon roll out a visitor management system, which is a security module for the guards.
“We are looking to introduce online food ordering and laundry pick-up and drop-off services starting September,” he says, adding that iResidenz will roll out its mobile application by the end of this month.
On top of monetising the value-added services, Ramesh shares that iResidenz’s revenue model includes the “convenience fee” from its online payment facilities.
“Our platform supports online banking and payment via credit or debit cards, where a minimal fee of RM3.18 onwards is charged for successful transactions. As of July 2017, over RM1 million worth of transactions have gone through our platform,” he shares.
Ramesh adds that he is also looking to expand iResidenz beyond Malaysia. “We are currently exploring Singapore and Indonesia.”
Source : http://agent.theedgeproperty.com.my/content/1200509/digitising-property-management
Here’s our newest round-up of the featured startups on our site this week. If you have startup tips or story suggestions, feel free to email us. Enjoy this week’s list!
Events management and ticketing startup Event Pop provides a range of services – from customizable web pages for events and digital and physical ticketing to event check-in tools, as well as analytics. It claims to have served over 3,000 events including festivals since its 2015 launch.
PolicyStreet acts as a marketing and technology partner for insurers and curates cheap insurance products targeted towards specific groups. It aims to advance inclusive insurance to help urban poor, emerging middle-income, millennials, and interest groups obtain adequate insurance protection.
Campaign.com helps community leaders organize around a social cause. It works with communities who want to achieve societal change to define campaign goals, helps them set up websites and monitoring tools, and connects them to a wider network. It has a companion app that links community organizers to each other.
Mobile SIM service WAmazing allows foreign travellers to register before they arrive, saving hassle once their trip starts. The startup is also offering hotel reservations within its app. The app also provides an Uber-esque feature for travelers to hail a taxi.
Online property management platform iResidenz connects property owners, managers, and tenants. Tenants can use the portal to access bills, make payments, book facilities, and submit complaints. Meanwhile, property owners and managers are given access to real-time reports and an automation feature for select administrative tasks.
The Residenz Solution Sdn Bhd has developed an online portal that makes property management easier and more convenient for all parties involved as it streamlines everything on one digital platform.
“iResidenz helps homeowners, tenants, resident committee members, management offices and property developers manage a strata development,” its Founder and CEO Ramesh Balakrishnan.
“For owners, tenants and property management offices, communication is made easier where payments, bookings of facilities, complaints, notices and others are available on the platform, 24/7, virtually. So there’s no more calling up or having to be physically present at the management office to make facilities booking or lodge a complaint.”
With this, residents can contact their property manager any time, while property manager don’t need to rely on notice boards to disseminate important information. Aside from having the ability to contact a specific resident, there is also less paperwork thanks to automation.
Moreover, when making cashless payments on iResidenz, the residents are sure that they money for their property’s maintenance fees and other charges are credited directly into their manager’s account.
“Our platform supports online banking and payment via credit or debit cards, where a minimal fee of RM3.18 onwards is charged for successful transactions. As of July 2017, over RM1 million worth of transactions have gone through our platform.”
Ramesh revealed that his start-up has raised capital amounting to seven figures since it was incorporated in May 2013. It has also gained a pre-series A funding from online marketplace Lelong.my’s operator Interbase Resources in March 2017.
Asked on what sets iResidenz apart from its rivals like Advelsoft and Landlord, he pointed that they use a freemium model, but they charge a fee for premium services, such as service provider directory and doctor-on-call.
“Our premium features include real-time dashboard reporting that allows committees to view the happenings at the management office and tenant management for property owners to better manage rental collection. We will soon roll out a visitor management system, which is a security module for the guards.”
“We are looking to introduce online food ordering and laundry pick-up and drop-off services starting September,” Ramesh noted, adding they are planning to launch a mobile app later this month.
At present, iResidenz caters to 54 strata developments in Malaysia, most of which are upscale developments situated in Klang Valley. Aside from targeting to increase its local clients to over 100 properties by year-end, it is also considering to expand into Singapore and Indonesia.
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email firstname.lastname@example.org
Source : http://www.propertyguru.com.my/property-news/2017/9/160738/managing-properties-in-a-digital-age
Malaysia-based iResidenz is an online property management platform that connects property owners, managers, and tenants. Tenants can use the portal to access bills, make payments, book facilities, and submit complaints. Meanwhile, property owners and managers are given access to real-time reports and an automation feature for select administrative tasks.
As a part of its user acquisition campaign, the platform employs a freemium model, without any subscription or setup fee. It generates revenue mainly through its payment gateway services, where users are charged US$0.76 each time an online payment is made in the platform.
Competitors: Pegaxis, GuestReady, Yardi, Skyline
How it compares to competitors: iResidenz claims to provide value-added services to tenants. Tenants can book on-call doctors, home improvement services, as well as laundry pick-up.
iResidenz now has 55 condominiums across Klang Valley, Johor, and Sabah accessible on its platform, with 100 more said to be on the pipeline. In June, the total amount of transactions made on the platform hit US$234,000. The startup also plans to expand into Penang, and aims to get 1 million users by 2020.
Amount raised: Undisclosed
Funding stage: Pre-series A
Investor: Interbase Resources
Investment type: Equity
Purpose: Market expansion, product development, and team growth
Total disclosed funding to date: Undisclosed
Source : https://www.techinasia.com/malaysian-online-property-management-iresidenz-secures-funding
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Tags: tech talk, Digital News Asia, Karamjit Singh, Telekom Malaysia, Mudah.my, Magnus Games, Re:Legend, iResidenz, IMDA, digitalisation economy, accenture, cradle, CIP300, honor 8 pro, Aviation, Auto, Transport, Logistics, Healthcare, Pharma, Biotech, Hospitality, Tourism, Conventions, Media, Marketing, Advertising, Property, Real Estate, Construction, Telecom, IT, Technology, Entrepreneur interviews, Technology news, reviews, Property
MANY people have opted for highrise residences due to land scarcity, convenience, and better security.
However, condominium living can be a hassle when it comes to booking common facilities, parking, and paying fees as residents can only visit the property management office during working hours.
On the other hand, the management office has to deal with the frustration of collecting maintenance fees from residents, managing paperwork, and dealing with maintenance problems.
Recognising these pain points, home-grown technology start-up The Residenz Solution Sdn Bhd offers digital solutions to address the problems.
Managing the collection of maintenance fees remain a pain point for property managers, says Ramesh
“I live in a condominium and know the pain and frustration of living there,” its founder and CEO Ramesh Balakrishnan says.
The company owns an online resident portal, iResidenz, which caters to condominiums and gated communities.
It claims to make property management and communications easier for owners, tenants, and property management offices by connecting the parties to expedite payments, bookings of facilities, complaints, notices and more.
The workload of the management office is also reduced through automation of administrative tasks.
iResidenz also serves as a platform for property management companies and property developers where they get access to real-time reports of multiple properties and other features.
The Residenz Solution was formed in 2013 when Ramesh received a request to build such a system.
His client wanted the system as he had problems sourcing for localised property management software.
“There are such softwares from the US and Australia but they are not as flexible and could be expensive to run,” he says.
To date, the system is deployed in over 54 properties across the Klang Valley, Johor, and Sabah.
Among them are Summer Suites KLCC, Ampang’s M-City, Desa ParkCity’s The Mansions, Cyberjaya’s Mirage by the Lake, and Waldorf and Windsor in Sri Hartamas.
Of the 54 properties, it is used by two commercial ones and eight gated communities.
The difference in the system is that the booking function is absent in the commercial properties and gated communities version as such properties do not have condominium facilities.
“We are looking at an average of 350 units per property in our system. One of our highest users has over 1,400 units in a condominium project,” says Ramesh.
Users of iResidenz are charged a convenience fee of RM3.18 per transaction performed through its payment gateway service.
Ramesh says this function is optional for residents who can still make physical payments at the property management office. However, the system’s take up rate has been encouraging.
The payment gateway, which was introduced early last year, has since surpassed the RM1 mil transaction milestone.
As many of the properties on iResidenz consist of high-end condominiums, Ramesh says property owners who are likely to be landlords, prefer to opt for online payments as they rarely set foot on their tenanted properties.
For property management offices, managing and tracking payments are one of the biggest headaches faced.
“There are some property management offices that allow you to transfer money to their account and then provide them with a proof of payment such as a transaction slip or receipt.
“However, it is cumbersome to track as there have been instances where payment has been made but the resident forgot to attach any proof of payment,” he says.
Ramesh points out that he has seen unclaimed or untraceable deposits ranging from a few thousand to as high as RM40,000.
Payments made on iResidenz are tracked and traceable as the process is automated, making it easier for both parties to monitor.
Target audiences for the system, he says, are existing and soon-to-be completed properties. “When we work with property developers, it makes sense as they may have existing projects,” he says.
A Knight Frank Malaysia report on the real estate sector for H1 says the cumulative supply of high-end condominiums and residences stood at 47,380 units.
Following the recent completion of The Sentral Residences, Arcoris Mont’ Kiara and 28 Dutamas, the figure has increased by another 1,333 units.
Condominiums are a common part of urban life. But living in one calls for more convenient management
Ramesh says iResidenz is developed as a “freemium” model for property management offices with the option to subscribe to add-on modules such as visitor management, committee management, and tenant management models.
(Freemium is a pricing strategy by which a product or service, typically a digital offering or application such as software, media, games or web services, are provided free of charge, but money (premium) is charged for proprietary features, functionality, or virtual goods).
“We are planning to introduce our committee management model by Q4. It will allow the joint management body (JMB) of condominiums to document meetings and their outcomes,” he says.
This function allows new property managers elected by the JMB to have a clear idea of what happened in the past and be able to pick up faster from where the previous officials left off.
Other monetisation options include tailored advertisements on the portal. Ramesh says residents who are booking the tennis court, for example, may be prompted with an advertisement for tennis coaching lessons.
The advertising module is still in its experimental stage and has yet to have a fixed pricing structure.
“We have residents and property managers coming to us with ways to improve the system, but any new feature we launch will have to satisfy the majority first,” says Ramesh.
Funding the business
LOCAL technology start-up The Residenz Solution Sdn Bhd has been knocking on the right doors to fund its business.
Its first round of funding from angel investors was in May 2015, followed by another similar one in November that year.
The company, which owns property management web portal iResidenz, raised a pre-series A funding round in March from Interbase Resources Sdn Bhd, which operates online shopping marketplace Lelong.my.
Interbase Resources managing director Richard Tan says: “This move is in line with our long-term direction to partner and invest in online communities.
“As a pioneer in the e-commerce industry, we are happy and excited to be involved with iResidenz’s growth aspirations and the team under Ramesh Balakrishnan (the company founder and CEO).”
The funding has also helped iResidenz look into potential expansion outside the country by increasing its talent pool.
Though the amount of the funding remains undisclosed, it is believed iResidenz’s entire funding exercise could have secured them a seven figure investment in total.
At this juncture, Ramesh says the business is not yet profitable.
“Our focus is to gain market share. Once we have achieved that, there is so much we can do in terms of monetisation and revenue,” he says.
iResidenz, having 54 properties already on board, has a captive audience of 18,900 users based on the average 350 units per property, while offers to collaborate with it are already coming in.
“If we have 100 properties with a captive audience of 35,000, there is so much more we can do,” Ramesh says, adding that he hopes to achieve the figures by the end of next year.
Social enterprise platform Campaign announced on Wednesday that they have raised an undisclosed amount of funding from Ken Dean Lawadinata, who is widely known as co-founder of Indonesian discussion forum and e-commerce platform Kaskus.
Campaign provides a platform for communities and individuals to promote their social campaigns. The startup also provide consultation and training for individuals and organisations in running a successful campaign.
According to several media reports, prior to the investment, the company has been running their business through bootstrapping and by acting as tech consultant for corporations.
Lawadinata left Kaskus in October 2016. He had previously been quoted saying that he was “no longer interested” in tech startup investments.
Kuala Lumpur-based online resident portal iResidenz today announced the appointment of John Choo as its CTO.
Reporting directly to founder and CEO Ramesh Balakrishnan, Choo will focus primarily on strategic planning, product development, and “spearheading innovation” on the platform.
He brings 15 years of experience spanning across fields related to real-time distributed apps, high-volume transactional systems, marketing technology, digital engagement strategies, and product management, vision and roadmap.
Also Read: Captain’s Log, Sept 6: PolicyStreet raises US$500K, Mobike goes to Malaysia
Indonesian online marketplace for automotive RajaMobil announced on Wednesday that it has raised an undisclosed funding led by Ideosource, according toDailySocial.
Stellar Capital and angel investors such as TP Rachmat of Triputra Group, Boy Thohir, Fatimah Kalla, and Erick Thohir through Beyond Media (Mahaka Group) also participated in the funding round.
The report also named Assa Rent, Nasmoco, and “several other automotive companies” as investors.
The funding round marks the company’s first external funding.
RajaMobil connects potential car buyers to car dealers through a desktop and mobile site. The company plans to use the funding to push for product development and marketing.
Southeast Asian logistics marketplace Deliveree has launched a new service utilising two-tonne capacity CDE trucks in Greater Jakarta Area.
The starting price for the CDE truck service is IDR320,000 (US$24) for the first five kilometer and IDR7,000 (US$0.52) for every kilometer thereafter. Customers can also book a CDE truck for a 12-hour full day service with unlimited distance for IDR900,000 (US$67).
In the upcoming months, the startup plans to launch other new services utilising CDD and Wingbox trucks.
Source : https://e27.co/captains-log-sept-7-kaskus-founder-makes-first-angel-investment-20170907/
Call: (+6) 017-2459876 / (+6) 017-2129874
The Residenz Solution Sdn Bhd
29-07, Jalan Riong, 59100 Bangsar Kuala Lumpur, Malaysia