You want to quickly get more profit from the the real estate business, but still don’t know how to do? You don’t need to be worried anymore because there are useful information as follows. That is the experience of earning from the business serviced apartment for rent, one of the forms of real estate business is currently being considered by so many people.
Choosing the right location, look at the market, understand the consumer behavior of potential customers, good service, appropriate finance … are the preparation steps are very important for investment serviced apartments most successful.
The concept of serviced apartments is no longer unfamiliar to everyone. Many people have seen the potential of this type of real estate business so they have invested both their energy and money here in order to regain profit quickly. To help you can effectively do business serviced apartments, please refer to some more information as follows
Choosing the right place
In big cities such as Ho Chi Minh City, there are many areas where many people live, but not all areas have the same favorable location. For people living in the central area, they are more comfortable but have to pay a premium for renting. Therefore, you should first consider and select an area suitable for you to run a profitable business apartment.
The important areas in the city are: Phu My Hung (District 7), Thao Dien (District 2) and CBD (Central Business Districts) – District 1, 3, Thanh. Each area has its own characteristics, so it is necessary to survey the area thoroughly before deciding on investment. And if you want to business serviced apartments for rent in district 2 you should find out what are the advantages and disadvantages here. So you can invest properly in the design of apartments suitable for each customer.
Researching through the real estate market
Investors need to thoroughly investigate the market, can do by themselves or hire specialized units, knowledgeable market share real data supply and demand. Having careful preparation is never an overstatement. You will see good results from the preparation of details like this.
The information you need to focus on is: where the customer is located in the area, the prospect of new and old supplies, how much income of customer, average payments, short term lease or how many opponents are doing this model …
Financial accounting in a reasonable way
There are two groups of investors preferred to implement this model. One is individual investors with large capital, idle. The two are professional management units, then leased out. Whatever form you have to calculate the amount of capital you have to spend.
If you don’t have the capital to trade, you can think of borrowing from friends or at the bank. But it should be noted that one shouldn’t borrow more than 50% of capital for construction. Because you have a lot of other items to pay as decoration, advertising … If you don’t have enough money so you borrow 100% capital from other place, then it’s difficult to make a profit when you have to pay high interest rates.
Clearly identify the customer for lease
Those looking for serviced apartment for rent are usually mainly foreign professionals with mid-income: $ 2,000-3,000 a month. This group of potential customers comes from Asia – Europe – USA, doing the job: foreign language teachers (English – German – Japanese – Korean), consumer market research, project consultants in Vietnam Medium and small scale, experts hired by Vietnamese companies …
This customer group requires the service, utilities included with the service apartment to be complete, in which the management team’s English (speaking English) ability is extremely important in the service process. customer. Therefore, if your target customer is foreigners, then you should learn more about foreign culture and especially good at foreign languages to negotiate.
Designing apartments to suit the needs of customers
Another thing that you need to care about is the design of serviced apartments to suit the needs of customers. Americans have the different habits from Europeans, and Koreans have demand not like Japanese. Therefore, investors must understand this distinction in order to locate the right product. Consult architects who have experience designing houses for foreigners or professional development units before arranging the premises in the project.
You should rely on the customer to design a serviced apartment for rent to fit their needs is okay.
Always improve the quality of services
If you want to keep your customers in long term, the thing you need to do is to always improve the quality of service for your serviced apartment. Speciallr in some Saigon serviced apartment where have lot of foreign customers. Services such as laundry, cleaning, cooking, taxis, airline tickets, legal support, language and other personal services are all essential to keeping customers.
This is the difference that creates competition for the mini serviced apartment. Concentration and upgrading of service quality will make the customer happy can bring the opportunity to increase rental capacity. In addition, quality of service also needs to be constantly improved. Such as the service attitude of the staff, security, management team … will help customers appreciate you from that stay longer.
The apartment is fully legal
One of the most important things you can’t ignore is that you have to do business registration in accordance with the law, avoiding the illegal business will push the risk rate up. Legal clarity is the only way to go far in the real estate industry.
Here are some experiences that will help you make your apartment business more efficient. Please refer to and carefully to invest in your apartment properly.
Thang Tran – Mogi.vn
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