UK: Lavanda has launched its coliving PMS, a new software product specifically designed to solve property management for coliving operators.
The dedicated platform focuses on “delivering a superior resident experience, including offering renters more flexible leasing options, whilst reducing management costs and optimising the performance of coliving assets with intelligent automation”.
The company says the new PMS enables operators “to put residents at the heart of their strategy with a seamless lead-to-lease journey”. The Lavanda resident app additionally allows residents to book amenities, report issues and build connections within their coliving communities.
David Larpent, CPO at Lavanda, said: “After significant work within the coliving sector, it’s become very clear that this rapidly emerging asset class was missing a dedicated property management solution. Having raised capital earlier in 2022, we have been able to invest in the people and resources needed to develop a dedicated solution for coliving properties, enabling us to better serve our growing customer base with the product features they need to build world class communities that attract and retain renters.
The solution has already been adopted by Neybor, a coliving start-up led by architects and designers, currently operating in Brussels.
Lavanda recently appointed two new executives to its senior leadership team, Benjamin McGee, VP global sales, and Laura Woollard, VP global marketing. Both were formerly executives at RealPage.
Woollard said: “Prior to joining Lavanda I’d been tracking the emerging flexible living sector for a while and was hugely excited by the potential in this space. When the opportunity arose to join a leading innovator like Lavanda, leverage my deep industry experience and personally contribute to the company’s exciting growth plans, I found it very hard to say no.”
Lavanda has also signed a partnership with student accommodation provider Collegiate UK.
The strategic partnership seeks to leverage Lavanda’s technology platform to make Collegiate’s inventory more flexible and affordable. Collegiate will use Lavanda technology to intelligently optimise the performance of vacant or under-utilised units by tapping into seasonal short and medium-term rental demand, most notably during the summer months when the academic year has ended.
Collegiate’s “flexible student living” initiative seeks to deliver transformational benefits to student residents, whilst at the same time creating significant value for underlying investors in the assets.
Rob Moyle, CEO of Collegiate, said: “The pandemic resulted in a shift in rental demand and has been a catalyst for innovation and change across the residential sector. As consumers increasingly value flexibility, demand for shorter stays continues to accelerate with no sign of abating. Flexibility in many cases now drives decision making for students, whether they’re seeking term time accommodation, or temporary accommodation whilst travelling during the summer months.”
At Collegiate we’re committed to customer experience and innovation, and to the development of student communities that create value for both residents and investors. Our partnership with Lavanda provides our communities with a best-in-class toolkit that allows our buildings to stay agile, respond to emerging trends and offer best value to our student residents. We’re excited to see what the future holds and how this partnership will now develop.”
Fred Lerche-Lerchenborg, CEO at Lavanda, said: “Historically, purpose built student accommodation has been considered a premium accommodation option for domestic students. We’re proud that our partnership with Collegiate will help create more flexible and affordable student accommodation options, without compromising on the quality and amenities that students are looking for. We’re delighted to further solidify our leadership position in the European PBSA market, and to continue Lavanda’s exciting growth trajectory.”
