Prelude
Most of us, and particularly professionals like bankers, civil servants, engineers, architects, etc., are either landlords ourselves or tenants in other people's properties. The non-vibrancy of the mortgage finance industry and the non-existence of building societies and corporate property developers in the country have made property rental a big business in itself.
Problem Statement
- Inefficient Property Management Processes
- Manual Data Entry and Paperwork
- Difficulty Tracking Rent Payments and Tenant Information
- Limited Visibility into Property Performance
Solution Overview
RentcoSoft comes as comprehensive property management software that automates rent collection, tenant management, and maintenance requests, while providing real-time insights into property performance. It's scalable and customizable for small to large-scale property managers.
Key Features
- Automated Rent Collection and Payment Tracking
- Tenant Portal for Rent Payments, Maintenance Requests, and Communication
- Maintenance Request and Work Order Management
- Customizable Reporting and Analytics
- Integration with Popular Accounting Software
Benefits
- Increases Efficiency and Reduces Administrative Tasks
- Improves Cash Flow and Reduces Payment Delinquencies
- Enhances Tenant Satisfaction and Retention
- Data-Driven for Informed Decision-Making
- Scalable and Flexible for Growing Property Portfolios
Market Opportunity
There is a growing demand for property management software, with an increased adoption of digital solutions in the real estate industry. This presents an opportunity to capture market share and become a leading solution.
Traction and Milestones
- Completed Beta Testing with 10 Property Management Companies
- Secured Partnerships with Leading Real Estate Associations
- 75% Increase in Rent Collection Efficiency
- 95% Tenant Satisfaction Rating
Business Model
- Subscription-Based Pricing
- Instalment Payment Options
- Once-off Tenant and Property Registration
- Remission of Professional and Association Dues
Market Penetration Strategy
- Digital Integration with Rent Collection Banks
- Digital Integration with Public Building Liability Insurance Companies
- Networking with Property Managers and Real Estate Professionals
- Partnerships with Industry Associations and Conferences
Team
Founder: A.J Tafida (Background in Economics, Fintech, Finance and Business Consultancy, Specialists in Education and Microfinance).
CTO: Daniel I. Dabo (Expert in Building QS, and Property Management).
Advisors:
- Sukaina Suleiman (Expert in Business Management)
- Awonuga Segun (Expert in Accounting and Finance)
- Salim Tafida (Expert in Social Demographics and Analysis)