How HIVE Coliv monetized shared amenities with Facility Booking
Overview
Founded in 2019, HIVE Coliv is a built-to-rent real estate development and management company that exclusively focuses on co-living communities. It is an innovative coliving concept and a first for Dubai. Their flagship residence, HIVE JVC, was developed in partnership with A.R.M Holding at the cost of $20 million. The building consists of 131 apartments.
Business Challenges to Our Solutions
Challenge 1
Haphazard booking of facilities
Before opting for our services, HIVE Coliv was facing a major challenge with respect to bookings of shared amenities as tenants were able to book facilities despite them being unavailable due to being under maintenance or already booked by another tenant.
Solution
We offered a Facility Booking feature that helped HIVE through white labeled apps through which the tenants could book facilities only when they are available and not under maintenance, avoiding any confusion.23
Facilities managedChallenge 2
No Automated Payments for Booking Facilities
The previous accounting software HIVE was using lacked an option for automating payment collection, leading to further complications in managing transactions efficiently as the manual payments made it a struggle for the staff to keep a track of the transactions. Additionally, tenants would often book facilities without making prior payments.
Solution
MonkSpaces.Ai has integrated with Xero to automate the collection of payments under facility booking. The payment automation provided ease in transactions to both the staff as well as the tenants. Our system auto-cancels the booking if payment isn't processed within 5 minutes of booking, freeing up the amenities to be used by other tenants and avoiding loss of revenue.3 hours/transaction
Revenue generated from paid facilitiesChallenge 3
Difficulty in checking/approving bookings
Their previous system required the HIVE Coliv team to log in and out of the web version of the dashboard to check tasks, approve or reject bookings - causing delayed approvals, unnecessary hassle and time consumption for the team.
Solution
Our system's Business App proved to be the perfect solution to this problem - The HIVE Coliv team can now update tasks, approve/reject bookings on their phones, boosting productivity and eliminating technical barriers.34,000+
No. of bookings handled
We were able to deliver a much better tenant experience to employees working at our tech park. They now book our amenities like sports facilities, gym, etc. through the app developed by MonkSpaces.Ai. Our FM team also utilizes the platform for Asset Maintenance, PPMs, etc. It's a great product!
