Tips on Buying a profitable boarding house

Tips on Buying a profitable boarding house

Buying a boarding house at first glance looks very easy, all you have to do is look for homes for sale, apply for loans to banks, then do renovations and boarding houses are ready to be marketed. Even though it looks very easy, buying a boarding house must be done with care and caution, because wrong buying a boarding house will be fatal. There are several things that must be considered before you decide to buy a boarding house. For those of you who want to start a boarding business or want to add to your boarding collection, here we describe a few tips on buying a profitable boarding house:

1. Find a Boarding House with a Strategic Location

The most important thing in buying property is location, this also applies to boarding houses. If you want to succeed in running a boarding house business, then make sure you buy a boarding house that is in a strategic location. Boarding with a strategic location does not always have to be on zero highway, but it is close to campus, school or office which is the market share of your boarding business. The closer the boarding location is to the campus or office, the higher the boarding occupancy rate.

2. Pay attention to the Boarding House Environment

After finding a strategic boarding house, the next thing you need to know is the environment around the boarding house. Make sure the boarding house is in a safe and comfortable environment. The security conditions around boarding houses are very important, do not let you get a claim for compensation because there is property belonging to the boarding house that is damaged or lost.
A comfortable, calm and cool environment is certainly everyone’s dream, including the boarding house child who will rent your boarding house. Their aim is to study abroad, so that they need an environment that is able to support their learning activities.

3. Calculate the number of bedrooms and bathrooms

The number of existing bedrooms will affect the benefits that you can get from a boarding house. The more rooms available, the more potential benefits you can achieve. Note the number of rooms available and the potential of rooms that can be built. Our advice is to start a boarding house business, at least 5 rooms are needed.

Availability of bathrooms is very important for boarding residents. Do not let you receive complaints because there are not enough bathrooms. Consider the number of bathrooms and the potential of a bathroom that can be built. 1 bathroom for 1 room is the best composition, but 1 bathroom that is shared by 2 – 3 boarders is the most efficient choice.

4. Check Availability of Parking Lots

Availability of parking lots must also be considered. Generally the motorbike parking area must be available at a boarding house. The number of motorcycles that can enter the parking area is at least the same as the number of boarding rooms. Car park land is not mandatory, but it will be an added value for boarding residents and the opportunity to get additional income for you.

5. Check Availability of Electricity, Water and the Internet

Completeness of utilities such as electricity, water and internet is very important to ensure the comfort of boarding residents. Electricity supply and water discharge must be able to meet the needs of all boarding children. Besides electricity and water, some boarding houses also demand the availability of internet facilities or free wifi. If you want to buy a boarding house, don’t forget to make sure the three facilities are available.

6. Check the condition of the building

The next thing to consider when you want to invest in a boarding house business is the condition of the boarding house building. In general there are three types of boarding house building conditions, which are still in the form of vacant land, old buildings and new buildings. The condition of the building will certainly affect how much funds you need to provide for construction or renovation.

7. Check the completeness of the letters

Before you deal and decide to buy a boarding house, there is one more thing that you need to check, namely the completeness of the documents. This is very important to guarantee your rights as the next buyer and owner. Do not let after you buy the house, a dispute arises that will harm you. Check the completeness of the documents such as land certificates and building permits.