Education is a flourishing business these days and student hostels are a core part of it. Thinking that owning property near an educational institute is not a fine idea, then probably you need to rethink. Investing in Educational institute is a potential goldmine of excellent rentals if you convert the premises into a student hostel. Though it is illegal to conduct commercial activities in residential areas. But various hostels are operational in domestic zones. And their apparent look may not even give a slight idea of whether it’s a student hostel or just another home in the lane.
For the moment, set aside the legal status of running students hostels in residential areas. The fact that these hostels are a source of massive and stress-free earning cannot be denied. In big cities, many people are into the business of running student hostels. And charge each student a hefty amount per month. Or even more depending on the location of the hostel, its proximity to educational institutes, bus stops and other amenities. Moreover, rental charge in a student accommodation also varies on the basis of the facilities provided. Which may include availability of attached bathrooms, Wi-Fi, security, back-up power, and most importantly, food.
How to start?
Though you need a hefty initial investment to set up a hostel, the return on this investment is likely to be quite delicious. And if you can’t afford to invest, you can simply turn your home into a hostel and find yourself a rental accommodation in the neighborhood. The earning from a hostel is likely to be sufficient to allow you to pay rent for your accommodation and still save a good sum for your bread and butter, and make ends meet easily.
Read this article if you want to know about the benefits of living in house vs. apartments