‘AI is Poised to Revolutionise Property Management’

San Banerjee, Co-Founder and CEO of ADDA.io, speaks about the user-friendly platform that ensures seamless adoption of new technologies to enhance the efficiency of residential communities

In an era where technology is transforming every facet of our lives, real estate and community management is no exception. One visionary at the forefront of this revolution is San Banerjee, Co-Founder and CEO of ADDA.io, a PropTech platform that’s reshaping how residential communities are managed. Having lived in various apartment communities across cities in India and the United States, San’s personal experiences with community living sparked a deep passion for improving the efficiency and interconnectedness of these spaces.

In this exclusive interview with REM TIMES, San shares her journey of founding ADDA, the challenges property managers face in adopting new technologies, and her vision for the future of residential community management— where innovation and seamless connectivity are at the heart of vibrant, self-sustaining communities.

Q. What led you to start ADDA? 

Since the age of 10, I have only lived in apartment communities - in various cities of India (Kolkata, Delhi, Chennai, Bengaluru) and USA (Baton Rouge, Madison, Chicago). What had always struck me was how each residential community had a wide sphere of influence – on its residents, staff, local businesses, local governance and subsequently, the environment on the whole. 

Well-run communities bring many positive changes to all these aspects. However, residential communities are often inefficiently run disconnected islands due to lack of affordable technology. I was well-settled in a consulting job in Bengaluru when my partner and I moved into our first residential community as owners. It was then that we experienced the problems of disconnected community living first hand, and also the realisation that we could make a real difference. I had the experience of working in SAP and it looked like this needed a vertical ERP. My partner Venkat had the experience in high performance web development so the ERP could be made available as affordable SaaS. 

So, we went ahead with building the solution for our own community with the most core elements at the start – automated maintenance billing and helpdesk. This itself was the MVP and associations were willing to pay for it. Friends would often tell us that we could build the same solution as horizontal SaaS, i.e. something that can be used by businesses of any kind.

Additionally, we were inspired by the leadership and voluntary services community management/management committee members, who we used to regularly meet during sales demos. We wanted to devote our energies to building the product specifically for them and their staff. 

Q. What specific challenges do property and community managers face when adopting new technologies, and how does ADDA.io address those challenges? 

Adopting new technologies can be daunting for property and community managers, who face challenges like resistance to change, data security concerns, and cost management. ADDA.io addresses these issues by offering a user-friendly, multilingual platform with training and support to ensure a seamless transition. 

We prioritise data security with enterprise-grade encryption and GDPR compliance, giving communities peace of mind. Our platform integrates effortlessly with existing systems like accounting software and IoT devices, reducing disruptions. Flexible pricing ensures ROI through features like automated billing and transparent expense tracking. 

ADDA.io also bridges the digital gap by catering to diverse stakeholders with intuitive apps and engagement tools like notice boards and polls. By simplifying operations and fostering collaboration, ADDA.io empowers communities to embrace technology and thrive together. 

Q. How do you see the role of AI and automation evolving in community and property management in the next five years? 

It is a very exciting time now! AI is poised to revolutionise community and property management in the next five years by enhancing efficiency, security, and engagement. Predictive analytics powered by AI will anticipate maintenance needs, helping communities save costs and prevent issues before they arise. Automation will streamline routine tasks like visitor management, bill generation, and payment collection, freeing up property managers to focus on strategic initiatives. 

AI-driven tools will also enable smarter decision-making by analysing large volumes of community data, offering actionable insights on resident behaviour, financial trends, and more. Chatbots and voice assistants will enhance communication, providing 24/7 support for residents and managers alike. 

Imagine a digital twin for your community manager who brings in deep expertise about community management best practices, govt. guidelines and compliances and more!

At ADDA.io, we envision a future where technology fosters vibrant, self-sustaining communities. By integrating AI and automation into our solutions, we aim to make property management more seamless, secure, and resident-centric than ever before. The possibilities are limitless, and we’re excited to lead this transformation. 

Q. How do you anticipate the growth of co-living spaces and student housing impacting the demand for community management solutions like ADDA.io? 

The rise of co-living spaces and student housing is set to significantly increase the demand for community management solutions like ADDA.io. These models emphasise shared living, operational efficiency, and a strong sense of community—areas where digital platforms excel. 

With residents in co-living and student housing often being tech-savvy, there’s a growing need for streamlined communication, easy payments management, and efficient amenity booking. ADDA.io’s features, such as visitor management, digital payments, facility booking and community engagement tools, are perfectly aligned to meet these demands. 

Moreover, the high turnover rates in such spaces make automation crucial for maintaining operational consistency. From onboarding new residents to addressing grievances in real-time, solutions like ADDA.io can enhance both resident satisfaction and management efficiency. 

As co-living and student housing expand, ADDA.io is well-positioned to empower these communities with the tools needed for seamless and connected living experiences. 

Q. What’s the most exciting technological advancement that you think will shape the future of residential community management? 

The integration of AI and IoT (Internet of Things) is the most exciting technological advancement set to redefine residential community management. Imagine a community where AI predicts maintenance needs as it is constantly crunching data sent by the IoT embedded in elevators, water pumps etc. It alerts the community manager about emergency maintenance before breakdowns occur, ensuring seamless operations. IoT-enabled devices, such as smart gates and sensors, will automate visitor management, energy monitoring, and security systems, providing a secure yet user-friendly environment. 

These technologies together enable data-driven insights, helping management committees make informed decisions on budgeting, resource allocation, and resident engagement. For example, AI can analyse water usage patterns and suggest optimizations, reducing costs and environmental impact. 

At ADDA.io, we see the future of community management as hyper-connected and intuitive, where technology doesn’t just support communities but actively enhances their quality of life. This shift towards automation and intelligence is a game-changer for the residential living experience. 

Q. What is your vision for ADDA? How do you foresee the company expanding its reach and service offerings to further address the evolving needs of global communities? 

Our vision for ADDA is to be the leading global platform that empowers communities to achieve smarter, more sustainable, and harmonious living. As urbanization grows and community dynamics evolve, ADDA aims to expand its reach to diverse housing models, from traditional apartment complexes to co-living spaces and gated communities worldwide. 

We envision broadening our offerings with cutting-edge technologies like AI, IoT, and blockchain to enhance transparency, security, and automation. Features such as predictive maintenance, advanced financial analytics, and environmentally conscious resource management tools will become core to our platform. 

On a global scale, ADDA will adapt to regional needs by integrating multilingual support and customising solutions for local regulatory and cultural requirements. By fostering partnerships with technology providers and service vendors, we aim to create an ecosystem where every resident, committee member, and property manager benefits from seamless, tech-driven community management. 

Together, we’re building vibrant, connected communities for the future. 

ADDA.io is one of the proud sponsors of World Realty Congress 2024