I am wondering about the boarding house where I rented one room during college, it is still functioning. It is an apartment with 10 doors. I rented room number 5 on the second floor. I have a property I want to dispose of and have the proceeds to build a two-story building for rent for students who live far from the city. Do you think, I will not regret doing this? Will this be a lifetime business? Share me your thoughts.
Is operating a boarding house a lifetime business?
- Thread starter Starmix
- Start date
Yes it is as student are constantly moving in and out and when the nation has a good educational background it even better cause the constant movement of incoming and out going student will be at an good state and such is always good for business
Yeah boarding houses are assets to the owners you can have it for life as a house owner. You just have to keep maintaining it.
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- #6
That is right, all the building owner do is check the maintenance daily to avoid fire and damage to properties. It is also necessary to conduct meetings with boarders to know their concerns and balances should they cannot pay on time.
That is a serious business. The apartment can never be vacant for justbkne day because of the high demand for accommodation in educational institutions.
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- #10
A boarding house is always full near or far from the school where most boarders are. Those employees rent a small flat to gain privacy. A boarding house could be by deck, depending on the request of the boarder. There is no boarding house that is empty. It is indeed lucrative.
It is a good business for people who have houses near the school. One of my aunts is having this business now. Since she is a retired citizen of our coutry, she can have passive income from having a boarding house for the students.
Yeah, when that is done the cost of renting such a house will be higher. That means you will make more profit renting it on yearly basis to students.
Depending on the individual, running a boarding home might be a lifelong endeavour. When it comes to running a successful boarding house, several elements come into play, such as location, the quality of the rooms, and the capacity to promote and attract visitors. As long as the business is well managed, it is feasible to make a fair livelihood from a boarding home.Furthermore, depending on the size of the boarding home, the owner may need to recruit extra personnel to assist with day-to-day operations.
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- #17
Usually, rents increased after 5 years. That was my observation of the boarding house of my neighbor. She has 2 story boarding house fronting a college and all rooms were full every semester. But cooking is not allowed inside their room. They are given wide spaces dirty kitchens on the ground-well covered or concrete.
I currently live in a boarding house which we call lodge, I'm a student. Cooking is allowed and also the house has everything. It is a storey building and I stay alone. I rented it for about $100 for a year.
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- #19
That is so good to know, the rent is very cheap, and affordable, Are your lights on every 24 hours or off at night? How many are you living in that lodge?
Yeah, there are more expensive ones that goes for over $200. We don't have light 24-hours. There are always light at night. We are about 41 living in the Lodge but some people have roommates.
