KUALA LUMPUR, MALAYSIA, 23 May 2023 – LiveIn is a regional prop-tech company providing Affordable Long-stay Rental Solutions. Formerly known as Hostel Hunting, they provide flexible community living, affordable rental, and an enhanced online-to-offline (O2O) experience for their tenants through their online platform. The company has been growing aggressively in Malaysia and Thailand by taking advantage of the property overhang in the region and the growing demand for better long-term rental options for university students and young professionals.
KT Management is a major player in student accommodation and one of the largest private long-stay rental providers in the northern region of Malaysia. This merger makes LiveIn the market leader in the space and will provide KT Management’s thousands of tenants, LiveIn’s flexible community living solutions, and a better O2O experience. This means that after they graduate, they will be able to have access to any accommodation within LiveIn.
“Malaysia and Thailand are key markets for us. The market conditions in Southeast Asia are perfect for LiveIn with its young people population, massive numbers of young professionals moving to the cities, and the huge property overhang. With the success of this merger, we know we have the template for success. We are now aggressively pursuing acquisition opportunities there & around the region,” said Keek Wen Khai (Khai), Co-founder and CEO of LiveIn.com.
“Our LiveIn Community Managers have been hard at work in Kampar Malaysia integrating LiveIn’s flexible community living solutions and processes to KT’s properties and tenants. Now that they are under the LiveIn family, as these university students graduate and move to the city to further their studies or to work, they will be able to seamlessly relocate to our other properties. The entire process will be carefully managed by our expert team of LiveIn Community Managers,” says Khai.
“KT Management has been growing year on year. This merger is a natural progression. Integration has been amazing and KT’s tenants are already enjoying the benefits.” says Kent Tee, KT Management’s founder. “I’ve been in this industry for over 10 years, I believe in LiveIn’s vision to be the leading player in Southeast Asia. This is a key strategy for growth, I foresee this will be the first of many. I am excited to now be a part of the expansion team in new cities & to bring my expertise to the table.”
“This means a lot to us as a company. By ensuring our tenants stay with us in different stages of their student and professional lives and in different cities, we ensure a level of continuity that is rare in the rental market. We learn so much from them. We earn a higher level of brand loyalty. And we enjoy a much higher lifetime value (LTV) from each and every one of tenants,” Khai explains.
With the successful merger of their operations & management team, LiveIn hopes to replicate this in their other markets.