Simplifying the rental payments for space providers using state-of-the-art technologies2 years ago Saritha Keshamoni
With the second-largest population in the world and being one of the densely populated countries, we do have billions of homes, hostels, PG’s and apartments. Though millions of transactions happen between the owner and tenant, still 90% of the sector is not using technology for its payments. With the advent of pandemic and precaution of human to human interaction. The space providers are facing a difficulty to collect or remind regarding their rents while tenants staying far-away from the rented location.
Especially, in case of Paying guest hostels, Student and working women hostels which are maintained by small scale entrepreneurs, are facing huge losses and struggling to collect their rents without knowing the proper details of the tenants who stay with them. With this uncertainty, more than 40% of hostels in Hyderabad and Bangalore have shut down in the past 6 months.
To solve the problem, Lorent have come up with a simple tenant management app, which is easy to use and absolutely free of cost. Our safe and highly secured encrypted servers keep the data safe and secure. Their app is of one of its unique kind, in which rental remainders can be sent with six unique formats reminding the tenant politely and promptly, which will lead to a successful transaction between the two parties.
Lorent has used state-of-the-art technologies for their app building, thus giving a robust user interface and easy usage of the app. The app can be downloaded from the play store or can be downloaded using the link provided in their website “Www.Lorentapp.com”.
Mr Ramsingh, Lorentapp’s beta user and Landlord of two apartments which include sixteen flats in the area of Narayanguda, Hyderabad said “With work from home option, many of my tenants have left Hyderabad leaving the flats locked with luggage, with the hope of returning back soon. But due to the extension of lockdowns and corporates allowing them to work from home for a long time. I have faced a huge blow towards my finances. I was unable to reach my tenants who are from different parts of the country. with unused resources and luggage still staying in the flats, it was a tough time for landlords like us. That was the time I was searching for a solution. Here I found LoRent app, I am extremely satisfied with it”
Our team comprises of the people who are experienced and have been serial entrepreneur supporting and solving problems of many clients globally. We have gathered together to solve this problem of rent collection. We do have plans of expanding our app into various verticals, supporting the landlords gain business by endorsing services to their tenants. Thus helping them to win prompt hyper-local services when the tenant comes to stay with them, who may be completely new to the locality.
A real estate developer turned movie producer, who own a production house at Hyderabad, has shown interest in the app and has been keen to invest once the app enters the market – CEO adds. Many real estate developers,construction firms are in talks with Lorent app regarding technology support.