A Hostel Or PG Owner Should Keep These Things In Mind

The major cities are witnessing a boost in the number of hostels and paying guest accommodations. Many of the owners and landlords are converting their properties into hostel accommodations for students and working professionals. In fact, it is a steady way of income you can rely on.

Things to keep in mind

Before converting your property into a boys hostel in Greater Noida, you need to keep a few things in mind.

Floor plan

Decide the floor plan by consulting an expert to prepare a fair platform for hostel accommodations. In this way, you can optimize the use of resources accordingly and maximize your income. Make sure that every tenant enjoys a fair amount of area as per the rent decided.

Rent

The second step is to fixate on the right rent for every unit you are going to provide to tenants. Your rent will pay the primary element in the sales pitch. Moreover, consider the other elements present in the property and decide on the rent for those units. The more you provide as perks, the higher will be the amount of rent you are going to collect from each tenant.

Consider checking the rent of hostels and PG accommodations around your property so that you can be a part of the competition.

Promotion

Once the setup is ready, you can start promoting your property as a hostel or PG accommodation in busy areas such as colleges, offices, etc. In this way, you can attract more footfalls and find a tenant smoothly.

The location of your hostel/PG accommodation will play an important role to impress the leads coming to visit your property. Promote your location well and set the rent accordingly.

Safety and security

For those who are traveling to a new city for the first time, security and safety will be the prime concern. Apart from providing the best accommodation infra, you will also ponder upon the safety and security measures. Especially for a girls hostel in North Campus, you will have to maintain a secure compound well so that the female tenants can feel safe.

Agreement

Design a full-proof agreement by consulting with your lawyer and include all the clauses necessary. Mention the requirements of identity proof of every tenant willing to stay in your hostel.

Final words

A landlord needs to be super-cautious while converting his property into hostel accommodation. Providing minimum facilities is mandatory. Choose the rent amount fairly and enjoy a smooth flow of tenants.

Comments

Post a Comment

Popular posts from this blog

How to Find Best PG in Delhi NCR?

Image
Delhi NCR has numerous amount of PGs and Hostels for both boys and girls who migrate to the city from their hometowns on account of various reasons like jobs, education, and professionalism. But to find the best pg in Greater Noida and other places is a tough challenge. However, if certain things are kept under consideration while seeking a PG hostel, the result surely turns out to be the best. Ways to Find Best PG in Delhi NCR are as follows- Research : The most effective way to find a PG Hostel is following the residers' ratings of PGs on various comparative sites which also shows the facilities, prices, locations and other details in a total comparison form. This helps you to finalize a PG which will fit into your budget, aid the facility requirements, and stand at the preferred location, by comparing two or more PGs at a time on the basis of ratings and reviews. Location: If one is looking for a girls hostel in North Campus, an effective way to find a PG is to make s...
Read more

This Is How You Can Choose The Perfect Girls Hostel Or PG

Image
It is a tough task to find the best PG accommodation for girls when there are a lot of options and too many parameters to follow. It is also tough for the girls to adjust when the environment is not up to the mark. A good setup will deliver the ideal ambiance with all the features a paying guest needs. As the experts of EZstays say, finding a hostel for girls takes a few intelligent steps. The rest becomes easy. How to choose the perfect PG for girls? There are ways to find out the ideal accommodation for girls in Greater Noida. Make a list of options you can get in Noida and find out the best one based on the following parameters. Premise features The first parameter that you need to check in a hostel in Bhopal is whether the building is or old or new. An old building will not deliver the right ambiance. Choosing a new building or a refurbished setup will do the trick. Check the bathrooms also. It should be clean and well maintained. Surveillance and security The pri...
Read more

Why Hostels Are The Best Places to Stay

Living in a hostel is considered to be one experience that every individual must enjoy at least for some time during his/her student life. There are several lessons to be learned while staying in a hostel that prove extremely helpful for individuals in their future life. Be it the best hostel in North Campus or an average hostel facility in one of the several educational hubs across India, the experience of living in one is truly life-changing. This statement is further justified by the below-listed facts about what makes hostels the best places to stay.   Living in a hostel helps in developing a sense of independence within the individuals as they have to make every big and small decision on their own. This, in turn, boosts their confidence and helps teach them the skill of taking responsibility for their actions.   Hostels are the biggest breeding grounds of the strongest friendships (and even enmities) that often last a lifetime. As people share their lives and e...
Read more