People engaged in the hospitality sector and the hotel industry aim to make a good profit. However, things did not take a smooth turn for them in the COVID-19 pandemic. They had to adapt to the changing scenario and close down their properties due to a lack of guests in such a situation. Most of these hotels are on the edge of sale.
However, things took a different turn when the hotel owners changed their approach. You must be thinking, what? The answer is the transformation of hotel rooms into residential units to serve the workforce population. So is it a philanthropic act? There are two answers to this. First, it is a philanthropic act because it assists the workforce population, and secondly, it caters to the interest of the hotel owners. Hence, it caters to a dual purpose.
The associated challenges
For most hotel owners, converting their properties into residential units was not easy. There are various myths and misunderstandings associated with an affordable residential unit. These residential units are for low and medium-income families earning between 60 to 120% of the area’s median income. Maxwell Drever reflects that spending a vast part of that earnings to rent is not an option for these individuals earning a minimal amount. Hence, they require affordable lodging near their job location to ensure that both ends meet.
Understanding hotel location
An apt location is vital for those thinking of purchasing a new property and transforming the same into a residential unit. If you do not have a property, you must look for an estate in the city centers. It’s because they have better chances of driving in high traffic. You must also ensure that the property is close to the industrial hub. Hence, it will get a smooth flow of laborers.
Significant building codes
Hotel rooms are usually single bedrooms. The way a luxury hotel got created is very different from a residential unit.
- Hence, if a hotel owner plans to repurpose their rooms into apartments, the conversion procedure will require proper planning and execution.
- The renovation needs professional help because several factors are associated with this process.
- As a result, Maxwell Drever infers an accurate assessment of the capabilities of the structure is vital.
- After reviewing the hotel rooms in detail, hotel owners must work on a concrete plan with the help of professional monitoring.
- At this stage, paying attention to the local building codes, rules and regulations are necessary.
If you want to ensure that the conversion process is hassle-free, you have to take the help of these rules and protocols.
Introduce amenities
As illustrated earlier, hotel rooms and residential units were built differently. Hence, introducing basic amenities in the hotel rooms is the property owner’s duty. Basic amenities like microwave oven, refrigerator, TV, fridge, and air conditioning system are some of the aspects that will create a supportive atmosphere within the room.
Ensure that your guests feel at home because that will help you drive the traffic.
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