Some landlords don’t make real good returns because they feel that they can manage their properties by themselves, or that their friends or relatives will do it for them, or that their broker or agent will do it for them.
Ajit, who works for a bank in Australia and owns a property in Koregaon Park, Pune, felt the same. Initially, he was also very reluctant to hire a full-time property manager.
What is the difference between a full-time property manager like Lisa Home Solutions Pvt.Ltd–an online property management company, and a real estate agent? An Agent is a person who helps you to find a renter and helps with documentation. That’s it.
While founded by Mr Ratnesh Upadhyay, the Founder and CEO, Lisa Home Solutions works with you to ensure that you make the best possible returns from the property while keeping the risks minimum. All the service is delivered via a Service Delivery Platform, which includes support software, call centre, mobile app, online landlord account etc. This ensures that you are not dependent on any individual.
Now, after seven years of receiving services from Lisa Home Solutions, Ajit feels that it is one of the best decisions that he took. Mr Upadhyay shares, “We keep Ajit, the property owner of Koregaon Park, free from all kinds of worries and issues, and he spends time doing things that he loves. The biggest beneficiary of this service is both his kids and his wife.”
A Hassle-Free and Profitable Property Management Solution
Simply, Lisa Home Solutions reduces the losses on the property by reducing the time property remains vacant, minimizing maintenance, controlling damages etc., increasing the rental income by working with All the good agents of that area and inviting more offers from the market, works as a single point of contact by tracking your all bills, property taxes, society charges, and maintaining documents, pics etc., and by becoming your trouble-shooter solves all your issues ranging from difficult tenants to eviction including legal, police everything.
In other words, Lisa Home Solutions is India’s top leading firm offering its clients peace of mind. Mr Upadhyay says, “Our main USP is that we provide an integrated 360-degree solution to our investors – we help them invest, manage their properties and generate the best ROI, and then once the time comes, we help them exit from that investment.”
An Expanding Realtors’ Network
Today, through Lisa Home Solutions, Mr Upadhyay and his expert team manages around ₹700 crores worth of properties. They have been in Property Management Business for the last 17 years. They are a Technology enabled company. They developed their own proprietary Assets Management Software in-house. They also integrated it with Zoho CRM to provide really excellent service to their clients.
They are very well connected on the ground, and they have solved more than 250+ cases on behalf of their landlords, e.g. evictions, rent recovery, troublesome tenants, society complaints etc. They have a network of realtors who help them to buy, sell or rent their client’s property across India. They have nearly 5,000 Realtors in Lisa Network. So this combination of employees, partners, and realtor network gives them an edge over the competitors and the market.
Best ROI on Your Property
They specialize in generating the best ROI on the property by managing all aspects of it:
- “We generate the best offer from the market due to our strong Marketing and 5000 strong realtors’ network
- We get the maintenance work done at the best price from our partner network
- We ensure zero damage to property with our inspections
- Our property manager ensures that at the time of move-out, tenants provide the property in good condition,” says Ratnesh adding that
- Every client has their own dedicated property manager whose job is to ensure that the investor makes the best Returns.
Connecting Owners with Realtors
A B. Tech professional, Mr Upadhyay started his career as a software engineer in a Pune MNC. Out of his eight years of software life, he spent many years in the UK and worked very closely in customer experience teams. Because of his frequent travels to India and abroad, his friends kept asking him to help them rent their properties.
He started helping his UK friends whenever he was in India, coordinating with the Realtors to help them rent out their properties. During the process, he realized that there are a lot of gaps, and a lot can be done to bring the two communities together where the investors will get a very good return on the investment and their property will be safe, and the broker community will get a steady supply of properties.
Later Mr Upadhyay founded Lisa Home Solutions, and the company started to work in this field and started to solve these asset management problems. It became a big brand in this business because of its continuous support to clients.
Landlord Account and Broker Collaboration Platform
Lisa Home Solutions was the first company to launch online Property Management Services. Mr Upadhyay reveals, “We launched the first landlord account where the landlord could see all the property pictures, documents, service requests, rent-related information, etc., in one place.”
Lisa Home Solutions was the first company to launch the first broker collaboration platform where an agent can share leads and work with each other so that the tenants, as well as the landlord, get a good deal.
LHS has a unique training module for its staff where they train them on actual cases, enabling a better customer experience for their clients.
Tech-Integrating AI-Revolution in Real Estate
According to Mr Upadhyay, AI ML is the future of real estate. The main reason why AI will become very prominent in the coming days is that the Real Estate industry generates a huge amount of data that would be used for predictive analysis.
One of the major application areas would be investments where the algorithm will identify the potential high-demand areas. Developers would also benefit from this predictive analysis – by identifying where to build more projects.
Buyers would get more personalized options based on their personal needs and income. All stakeholders would be impacted and benefited from the upcoming AI revolution in real estate. He shares, “We are currently using AI to respond to tickets of our clients. However, it’s in a very early stage. Going forward, we are going to use AI and ML in both arenas – Investment decisions and faster servicing of our clients.”
Tackling and Solving Challenges
Mr Upadhyay reveals that the significant challenges that they faced were during COVID-19. Real Estate is a contact sport and a field job. With people working from home and the rental demand going down, it was a great challenge. But right now, the market has opened up, and things are back to normal.
The current challenges, according to Mr Upadhyay, are.
- How to connect the large set of realtors, developers and buyers in one ecosystem where better decisions can be taken.
- The lack of accurate and realistic data to assist our investors in making profitable decisions.
- Lack of trained human resources who want to work in real estate.
A Successful Real Estate Wisdom
Being an experienced professional, Mr Upadhyay’s advice to budding entrepreneurs would be that “Real Estate is a good industry, but you will need to have patience in this industry.
- Do the research and finalize your niche market where you want to work,
- Identify the customers whom you want to serve,
- Make a solid sales and lead generation plan,
- Run your sales pipeline professionally,
- Monitor your performance and keep improving.”
Further, Mr Upadhyay assures that if anyone follows these steps, they will succeed in real estate.
A Holistic Future Support
Regarding envisioning scaling Lisa Home Solutions’ scope and reach in the future, Mr Upadhyay believes, “My Idea is to provide Investment support, Asset Management support, and related Consulting support to unlock investors in India. Right now, we are focused on developing our capabilities and improving our connection so that we can serve all India market.”
