Real estate is a very slow yet profitable business. At the heart of the industry is the goal to provide people who are looking for somewhere to stay, a place that can satisfy their need for safety and comfort. People invest in real estate heavily because of the rising human population. These people will need to live somewhere, even if it isn’t a permanent place. Native Property Management, for example, operates, maintains, and develops aparthotels (apartment hotels) that provide temporary homes for a lot of people.

Getting into the aparthotel business can be quite a hard task. An aparthotel is an apartment that uses the hotel booking system, with the difference being that there are no fixed contracts and people can check-in if there is a unit available through the booking system, and check-out whenever they wish. All of the rooms are fully furnished as well. Aparthotels are usually more expensive to stay in than the usual motels and inns, but the cost of maintenance is nearly similar.

What is needed

To start an aparthotel, you’ll need a prime location, one that’s usually frequented by foreign visitors. Near universities, business districts, and tourist hotspots are your best bet. Next comes deciding how your aparthotel will look, the type of rooms it may have, the amenities it will have, as well as the furniture for each unit. Then when everything is set and done, you’ll have marketing and advertising to look after as well as maintenance for the building and its amenities and furniture.

Maintenance of your aparthotel is essential, especially the bathrooms and the toilets. In many hotels and aparthotel reviews on the Internet, the status of your amenities at any given time might make or break your reputation. Services, too, are seen as a plus, and the lack of, a minus. For example, having breakfast as part of the paid services is seen as a plus, as well as free Wi-Fi. After a few years, renovations must be made to keep the business looking fresh and new. Being old and rundown is seen as a negative trait.

Seeing reviews of your aparthotel, when you start getting good reviews, can be quite exhilarating. But you must not let the praises go to your head. You must continue with the good services and improve to impress or satisfy your customers.

Advantages

One of the advantages about aparthotels is that you can even use your own home as the aparthotel. If you have vacant garage space, and a few rooms, or floors, you may set up your place to be a small aparthotel. Another one is that the prices for accommodation are favourable, making aparthotels profitable.

Also, unused space isn’t going to cost you anything except time that you have to clean those units every day. That is why aparthotels are usually small: so that the manager or person in charge doesn’t have to hire people when cleaning. Larger aparthotels typically need more people to take care of them, which costs money.

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