7 Things MyRehat Does to Increase the Occupancy Rate
Since MyRehat opened its doors in 2019, we have seen tremendous growth in operating short-term rental accommodations and manoeuvring our way around... Read More
Written by Zainal Zikri & Nasuha Aiedn
In the second part of our homestay business series, we will explore our selection process. Selecting where to operate your homestay can make or break your business. Some people pick a kampung house, near the beach, in the city or even within their taman! This is usually in mid-size towns where the dewan is the centre of many activities. A rented house in a mid-sized town is usually below RM700 a month. You can charge a few hundred a night hence you only need to rent it out for 4 nights to turn a profit already, pick those houses near a dewan with lots of kenduri kahwin!
For the purpose of this article, we will share only how we select units based in condos. For houses we are not the expert but the strategies we use should be applicable for houses as well.
New vs Existing Condo in a Popular Location
We always pick an existing condo that is popular as there is already a sizable ready market for it. Our definition of an existing condo is any condo more than a year old. There are operators who will pick a newly built condo in a popular location because it has less competition from other operators though you would need to do heavy marketing and more manpower to promote the new condo.
For new hosts, it is always better to pick a popular condo in a good location in MyRehat’s view as you would spend less time explaining to people where your homestay is.
Once you have identified a condo, you have to do due diligence:
If you have a condo in Kuala Lumpur that you do not want to manage that fits our criteria do contact us, we would love to manage it for you. Happy reading everyone!