KBank and Horganice offer an integrated apartment solution and special financial facility, and aim to extend 500 million Baht of loans




KASIKORNBANK (KBank) partners with Horganice to offer smart solutions to assist apartment businesses. Comprehensive business management will be enhanced by this option, including anywhere-anytime bill collection and payment acceptance, along with data management and communication with tenants, which will add more agility and convenience to both the landlords and tenants. Business operators using the Horganice application are also entitled to credits with special interest rates; total loans under this program are expected to reach 500 million Baht. KBank is also prepared for organizing a seminar to provide knowledge for nationwide apartment operators.

       Mr. Surat Leelataviwat, KBank Executive Vice President, revealed that most of the 18,256 apartment business operators in Thailand are located in the provinces with populated communities and active trade, industrial investment and tourism activities, as well as high-level educational institutes. Although the apartment owners seem like “passive income earner”, they are faced with various difficulties in their business management, especially disorderly data storage, a heap of documents to manage, tedious rental collection, employee frauds, intensified competition and most recently, the new rental law that came into effect on May 1, 2018 that directly affects business management of the operators.

KBank’s partnership with Horganice that started recently is involved with an application for comprehensive apartment management that serves as an intermediary between apartment operators and tenants. More convenient business management offered by this application includes the following:

Efficient data management: The application enables apartment owners to gain access to tenants’ information and to check reports on income-expense and profit-loss data at any time, allowing them to update their business status on a real-time basis.

Effective financial management: The solutions help landlords to collect rentals more conveniently and more systematically, with no more worry about cheating cashier. The alert system gives tenants notification on rental and utility payment when it comes due, and they are more convenient in making payment of rental and utility bill via K PLUS application with no fee charged.

Better access to loans: Apartment owners using the Horganice application for at least six months are entitled to receive K SME Apartment Credit with limit up to 30 million Baht for term of not more than 15 years. Borrowers with approved loan limit up to 3 million Baht are entitled to a special zero interest rate for a period of six months.

Provision of business management knowhow: Due to steepened competition in the apartment business, KBank has, therefore, teamed up with Horganice to organize a seminar, aimed at helping enhance the competitiveness of rental apartment owners. This seminar offered general business management, marketing and legal knowledge, as well as specific knowhow on apartment management.  

Mr. Surat added that KBank is pressing ahead with improving financial services for SMEs and integrating technologies with various applications to steadily help enhance their business management. In recent years, KBank offered business management solutions for the construction and restaurant businesses. Recently, KBank has joined hands with Horganice to offer such solutions for the apartment business. We are upbeat that these solutions will meet the needs of rental apartment owners and help them reduce management costs, thus allowing our customers to expand and add value to the businesses that they have an expertise on.  Total loans under this program are expected to reach 500 million Baht

          Mr. Tanawit Tonekunya, Founder & CEO of Horganice Co.,Ltd., said that Horganice’s cooperation with KBank is aimed at providing solutions for landlords to manage their  apartments efficiently and realizing their goals of being “passive income earner” by facilitating their business operations, producing recurring revenues and reducing business costs which will help increase their long-term profitability. Horganice will help apartment managers address various problems such as unsystematic operations, a failure to look after their employees thoroughly and a lack of true understanding of business conditions. In addition, disorganized accounting records can lead to incomplete profit and loss calculations, while offline data makes it less flexible for property management. Apartment managers using Horganice application can run business from anywhere via their computer or smartphone. The software features a function to fix such problems, enabling entrepreneurs to truly understand their business conditions and leverage on them to develop or modify their business plans faster, while catering to the needs of tenants who use this app as well.

Moreover, Horganice app accommodates a function for landlords and tenants to communicate with each other. Tenants can report room-related problems for repair, request for cleaning service and make a move-in/out notification more conveniently without having to wait for a meeting with the property staff or file a written request. In the meantime, landlords will receive the tenants’ requests promptly, leading to more efficiency in resource management.

Mr. Tanawit summed up that in addition to benefits of the app system functions, Horganice is offering a special promotion to KBank customers, namely, a free three-month service when purchasing an annual plan for Business Package or Professional Package.  This cooperation with KBank will not only streamline business management of apartment owners but also contribute to an effort to incorporate technology to optimize efficiency in their operations.