LPN is moving forward with its roadmap “Year of Change” to expand its revenue base towards Recurring Income for sustainability. Recently, it has launched the pilot project “Lumpini Living Plus Rangsit-Klong 1”, a condo for rent targeting the White collar segment, enhancing living value through the Public Zone with comprehensive Co-Living Space services to accommodate the new lifestyle trends of Gen Y. The company has also announced the opening for freelance agents to help find tenants before expanding to other projects in the future.

            “Year of Change:  The Year of Transformation” is the strategy that LPN Development Public Company Limited (LPN) has communicated to the market since early 2018. The changes have become evident in various aspects, one of which is the strategy to increase revenue focusing on expanding the income base from the core business to related businesses. This shift is from a model of creating for “sale” only to developing residential projects for “renting out” in (some) projects. The main reasons are to increase opportunities for the business and to provide consumers in the target customer group access to housing in “locations” and “prices” that are appropriate under the concept of “livable urban communities”.

Launching the “Lumpini Living Plus Rangsit-Klong 1” Condo for Rent

            “City within a City” is the concept for developing the project “Lumpini Township Rangsit-Klong 1” a Low Rise condo with 8 floors, 50 buildings, and 10,000 units, a large urban community on nearly 100 rai, complete with a community mall, Market Place, located at the entrance of the project, offering convenience with restaurants, shopping, and various services near the Future Park Rangsit connection point. The development is divided into 3 phases, with the first 2 phases comprising 7,000 units developed for sale. As of the end of September 2018, over 80% of the sales have been achieved, totaling more than 5,000 units, with prices starting at 700,000 baht per unit and usable areas ranging from 21.50 to 26.00 square meters.

            For the third phase, consisting of 16 buildings, each with 197 units totaling 3,152 units, LPN began its rental development strategy in May 2018 under the name “Lumpini Living Plus Rangsit-Klong 1” as a pilot project where studio units of 21.50 square meters in zones F and G are decorated for rent at 5,000 baht per month, ready for immediate occupancy as they come fully furnished with furniture and appliances. The rental rate is 6,000 baht per month, and in addition to being fully furnished, other services such as WIFI installation are also provided.

            Mr. Surawut Sukjareonsin, Senior Executive Officer of Strategy and Business Planning at LPN revealed that the development of condos for rent by decorating units in zones F and G is the company's goal to create sustainability from Recurring Income and that Rangsit is the first area because they see the demand for housing from consumers in that zone, including Don Mueang, Rangsit, and Pathum Thani, where there are many people wanting to own homes, particularly among the White collar group from both the public and private sectors. In the Future Park Rangsit area alone, there are no less than 20,000 jobs. Additionally, there are students from various prestigious institutions such as Rangsit University, Bangkok University, and Rajamangala University of Technology Thanyaburi, as well as staff working in hospitals and flight attendants at Don Mueang Airport.

“In the nearly 6 months since we started renting out units, we have received a good response. The first building is fully rented at 100%, while the second building is 85% rented, and we are currently opening for rentals in the third building.”

EASY Plus + Co-Living Space… New Lifestyle Trend for Gen Y

            Mr. Surawut also stated that although these are rental units, the company still invests to enhance the living experience, making it feel like home. They provide complete facilities to meet the lifestyle of the new generation, making life easier and more enjoyable. The Public Zone includes a fitness room to support residents' health with exercise equipment ready for fitness enthusiasts to maintain their shape and health, and a Co-Living Space for generating new ideas, catering to the needs of modern individuals who enjoy activities or socializing with friends, complemented by modern technology for free!  WIFI that is separate from customers who purchase condos to ensure that Gen Y can live “conveniently” and “comfortably”.

            Additionally, there are other services such as free! shuttle van service to Future Park Rangsit 19 times a day from 06:00 to 20:00, a songthaew service within the project (with a service fee), bicycle rental service (for riding within the project), Blue Mart: smart vending machines that accept payments via an app 24/7, Wash Coin: an online laundry service with automatic notifications via an app when laundry is finished, along with standard LPN Security measures including access control, 24-hour security guards, daily police checkpoints, CCTV, and key card access (for units, parking lots, fitness rooms, and Co-Living Spaces), etc.

Open for “Freelance Agents” to Help Find Tenants

            In addition to promoting through online media and communicating with residents in the area through local media, the company is also proactively seeking tenants from general renters and organizations looking for accommodation for their employees. They are open to sales agents and freelancers or those looking to earn extra income through freelance work, currently numbering around 5, including customers who purchased units in the “Lumpini Township Rangsit-Klong 1” project and students renting units in the “Lumpini Living Plus Rangsit-Klong 1” project who see opportunities to earn extra income by referring friends or finding tenants for the project.

Customers interested in renting units in the project can move in immediately with the following main conditions:

- Just pay a 1-month deposit 
- Utility fee of 3,000 baht 
- 1-month rent 
- Lease term of 1 year, including water and electricity fees.

            “In the past, most tenants have come from referrals from agents and freelancers,” Mr. Surawut added, emphasizing that the strategy of renting out units in certain projects and locations at reasonable prices will continue alongside sales, maintaining quality living standards in the LPN style under the concept of “livable communities” that truly address housing needs. The company also plans to expand its strategy to include renting out units in other locations as well.”

Thank you for the information from www.lpn.co.th