CASE STUDY

How HIVE Coliv monetized shared amenities with Facility Booking

Company
HIVE Coliv

Location
Dubai

Portfolio Type
Coliving

No. of Units
131

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 Challenge #1: Haphazard booking of facilities

Before opting for TheHouseMonk, 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.

Our Solution

TheHouseMonk 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

Business Challenge #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 -

1. The manual payments made it a struggle for the staff to keep a track of the transactions.
2. Tenants would often book facilities without making prior payments.

Our Solution

TheHouseMonk has integrated with Xero to automate the collection of payments under facility booking.

1. The payment automation provided ease in transactions to both the staff as well as tenants
2. 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.

Business Challenge #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.

Our Solution

TheHouseMonks 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.

The Outcome

TheHouseMonk transformed the way both HIVE Coliv tenants and the team engage with amenity bookings.

No. of facilities managed 23
No. of bookings handled 34,000+
Revenue generated from paid facilities AED 65k+

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