Co-living management platform for a real estate firm

Truliv is a pioneering coliving space provider based in Chennai, offering smart, community living spaces to friends, students, and working professionals. They provide a transparent platform to users, and create spaces that foster community and growth. It is the brainchild of DRA Homes, a reputed real estate developer in the state, known for delivering memorable residential and commercial projects. One of its projects include building the massive Decathlon store in the city’s IT corridor.

Truliv is a fairly new venture, but thanks to DRA’s extensive experience, they were able to establish trust early on.

As the number of properties grew, Truliv was not able to manage them efficiently. The team was spending a significant amount of time on manual operations such as handling invoices, tracking inventory and scheduling maintenance. Crucial activities like growth and marketing were being sidelined, and a lot of opportunities were falling in between the cracks.

• 80% of the work was manual
• Invoices were getting delayed
• Silo-ed communications between operations, marketing and property managers

This is when Cyces started working with Truliv. We proposed building a customized coliving management platform from scratch. Existing SaaS platforms were not flexible enough and could not accommodate nuanced features.

Our product team (product managers and designers) conducted week-long in-person sprints with the leadership team to understand the vision, business and ideal user profiles. This exercise is crucial, it sets the tone for the development process.

Our sprint involved intense brain-storming sessions to map out the existing operations and user flow.

In the last three months, the Truliv team has been using the product. And already, productivity, revenue and customer satisfaction have improved massively.

Here are the five key features that the team has been using

Automated Rental Invoicing

Previously, the manual process of billing and reminders was transformed into a streamlined, digital operation. This shift not only ensured smoother cash flow through timely payments but also significantly improved resident relations with consistent and professional communication. We implemented an algorithm to automate rental increases automatically as well. The company now reports a 22% increase in monthly rental collections.

Inventory Management

This major feature helped managing the availability and occupancy of beds. Inventory management is a critical feature of any coliving space, and we were aware of the complexities that came with it. It is similar to a rental inventory, but still unique in some ways. By accurately tracking bed inventory, the product facilitated better decision-making regarding room allocations, maintenance scheduling, and optimizing occupancy rates.

Forecasting Model

This feature predicted when a tenants' contracts would end, using data analytics. This foresight enabled the effective allocation of marketing resources, ensuring that properties were promoted at the right time to minimize vacancies, thereby optimizing business performance and revenue continuity.

Role-Based Access Control

This feature customized access to sensitive data and operational functions based on the user's role. It ensured data security and operational efficiency by effectively managing user permissions, safeguarding resident information, and streamlining management tasks specific to coliving operations.

Automated Support Ticket Management

Automated the process of tracking and resolving tenant issues and requests, from maintenance to billing inquiries. It improved tenant satisfaction and operational responsiveness by speeding up the resolution of concerns, ensuring a high standard of living and efficient operation.

End-to-end onboarding

We focused on enhancing the co-living experience through a seamless onboarding process. The end-to-end onboarding feature we developed simplifies the transition for new residents into co-living spaces. This process is designed to remove the usual complications associated with moving, allowing residents to concentrate on settling into their new community with ease.

Contract E-Signature Automation

Recognizing the need for a modern approach to contract management, we implemented a Contract E-Signature Automation feature within the Truliv platform. This feature streamlines the signing of rental agreements and other critical documents by integrating a secure, legally-binding electronic signature process. Residents can now sign documents remotely, from any device, enhancing convenience and speeding up the agreement process.