While commercial real estate can certainly be lucrative, when it comes down to it, apartment buildings are really about people, particularly the people who live in those properties. The goal of CommonFloor is to make it easier for users to buy, sell, and even rent residential properties in India online. Basically, the way CommonFloor works is by creating a private community portal for various residential societies. With this option, residents are able to communicate with their neighbors more easily in order to discuss and resolve common problems. Suppose for instance, that the property is not being maintained as it should. Neighbors could theoretically discuss that issue and look for a solution using CommonFloor. The portal also makes it possible for residents to quickly access community updates and important local information so they can be assured they are never behind on what is going on.
Solid Backing behind CommonFloor
CommonFloor has actually been around since about 2007, but since then, they have managed to obtain an impressive amount of funding. Among the most notable investors to funnel money into CommonFloor is Google Capital. In total, CommonFloor has received $62.9 million in four rounds of funding from three investors. Other investor include Accel Partners and Tiger Global Management. As a result, Commonfloor has been able to evolve quickly.
Benefits for Property Owners and Residents
Among the best benefits offered by CommonFloor is the Mobile app. With this app, users can search for properties as well as list properties that are for sale or rent. The mobile app makes it much easier for users to take advantage of the benefits offered by CommonFloor wherever they may happen to be. CommonFloor has worked diligently recently to focus on both mobile and social, which has given users the ability to merge the two for a higher quality residential lifestyle.
CommonFloor also provides a variety of services to help facilitate interaction between members of the societies on the platform. One of the ways it does this is by providing an online director with contact information for all residents, such as SMA and email information. Local information is also presented to help residents settle in more easily. Such information typically includes the nearest petrol pump, medical clinics, schools, and more. This type of information can prove to be particularly beneficial when a resident is moving into a new city.
In addition, CommonFloor also provides benefits for apartment owners association (RWA). This also includes simple, efficient methods of communication, including online, email, and SMS. Such communication capabilities can help associations to maintain and store their documents online, so that all members of the society are able to access those documents in an easier and more convenient manner. CommonFloor also helps to facilitate event tracking, facilities tracking, and even offers reminders.
Given the numerous benefits offered by CommonFloor, for both residents and property owners, this platform looks like a solid tool to make multifamily easier to manage.