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The journey from a business struggling because of Covid 19, to becoming a technology unit that supports real estate businesses and agents in achieving growth of more than 20% per year.
- We started with an understanding of the difficulties and limitations of the traditional rental real estate businesses.
- The Vietnamese market has over 7.1 million migrants across the country (according to the General Statistics Office 2019 report).
- Renting is even gradually becoming a trend of young people who prefer to move, diversify investment and accumulation channels, not only accumulate savings to buy houses. In fact, the flow of migrants is still continuously pouring into big cities or typical industrial clusters, such as the proportion of rental households living in Ho Chi Minh City is 32.8%, Bac Ninh is 27%, Binh Duong is 56.5% and Hanoi is 15.8% (according to data from the General Department of Census 2019).
With such a large proportion, the market is potential but also full of barriers for all stakeholders, including landlords, brokers, real estate agents and even renters.
Barriers for landlords, brokers and business units to enter the market:
- Marketing and market coverage to reach customers
- Vacancies filling, revenue maximization
- Product pricing in line with the market
- Management of the rental business models and the tenants
Obstacles from tenants:
- Lack of information on market prices, housing, area,...
- Wasting a lot of time and effort on finding and renting a house;
- Lack of utilities, communication tools, contract signing and repairing tools.
From the above pain points, Resident strives to research and develop, bringing AI & Big data technology to apply to the real estate field for all stakeholders, promising to promote the business of all stakeholders, providing young people with a comfortable, fast, easy, efficient and economical life.
What services does Resident provide?
Resident offers a comprehensive solution:
* Resident Connecting platform: Connecting 2 groups of targeted users, including tenants and rental real estate businesses with outstanding features.
* Resident Connecting platform: Connecting 2 groups of targeted users, including tenants and rental real estate businesses with outstanding features.
- Marketing & Sales Supporter: Providing marketing & sale packages, product listing packages on the most prestigious real estate floors
- AI Price Recommendation System: Based on AI & Big data technology, developing the AI Price Recommendation System to help individuals and business units quickly price the products in line with the local market.
- Optimal rental sales option: Providing homeowners with optimal rental sales options through stakeholders, such as agents or brokers (with a clear and accurate brokerage scoring system).
* Resident Management system for landlords and business units: Integrating many features to help landlords easily manage their rental system on just one platform, anytime, anywhere. It not only saves staff costs and time, but also assists the landlords to manage the information of migrants conveniently.
- Landlords and business units: Landlords' portal, effective communication, simple data & report sharing, online distribution
- Tenants: Communicate effectively & quickly, manage contracts, online payment
- Data system: Property information, rental contract storage, data connection with finance
- Financial reports: Periodical financial and accounting books, detailed information, daily payment tracking, comprehensive reports
What is the competitive advantage of Resident compared to other platforms?
- Being the only proptech unit in the market that simultaneously provides a connection platform between business units and tenants and the management solutions for landlords.
- Applying AI technology, Big data to build Resident’s reputation scoring data system (Resident Score) and product pricing system.
- Being the unit selected to implement information residence management for migrants in epidemic areas in the support program for epidemic prevention and control of the National Covid Steering Committee
Resident - creating the future of rental real estate with the motto
- Effective support to develop rental real estate business.
- Digital transformation of traditional real estate business units
- Quick, accurate residence information management in a timely manner
Therefore, Resident is very proud to be able to help real estate business units overcome the recent challenge. Growing up from the pandemic, Resident also continues to accelerate with more than 23,000 customers in the management ecosystem.
At Resident, people are the core of the organization, we have a team of Founders with many years of experiences in separate areas of expertise, combined into a solid Resident foundation:
- Co-Founder 1: A person who has been passionate in developing IT products/solutions for more than 5 years with an in-depth technical background in computer science at the University of Technology, Vietnam National University, Hanoi. He used to be a software engineer for domestic and foreign companies to accumulate solid experience before stepping out to establish and develop Resident products.
- Co-Founder 2: A person with solid foundation of Math and IT at Hanoi University of Science and Technology with more than 10 years of experience in the field of IT product development, commercialization, implementation of software solutions for large enterprises, Government Departments.
- Co-Founder 3: A person with business background, expertising in governance, organization operation, branding and user growth in the technology field. The core value of business development is related to the aspect of solving social problems, she is also the founder of a technology social enterprise supported by Shark of Shark Tank Vietnam.
In addition, Resident also gets the support of strategic consultants who have many years of experience in running large enterprises, government units implementing technology solutions, national digital transformation; Technology researchers with PhD AI/ Big Data/ Computer Science degree in Germany, Korea and Singapore.