A home that welcomes all.
By Santtana Looganaden
santtana@mystar.com.my
Since the emergence of home-sharing startups, a majority of property owners have been getting into the business by converting their homes, be it landed homes or high rise, into short-term rental stays.
While those who venture into this business know it requires much effort from the owner, it is still a tempting prospect as the return can be extremely fruitful, both in terms of monetary return, as well as a chance to host international travellers and promote cultural closeness.
A research done by The World Bank has nominated Malaysia as the second most visited country in Southeast Asia, which means there are more opportunities for the host to generate extra income.
However, home-sharing is not an easy business, there are a few things to consider before you become a host in this latest home-sharing trend.
- Services and facilities are key
When it comes to home-sharing, space, comfort and convenience are the utmost concerns of your guest. Hence, be sure to provide a living space that is flexible and is able to accommodate to the different demands of your guest, such as sectional screens or curtains that can easily separate the space within the unit, allowing the guest to temporarily modify the spaces of each compartment according to their needs.
Of course, you need to provide wifi, which is akin to water in terms of its essentiality in major cities today. Although most travellers would likely opt for public transportation services, free parking could come in handy, especially for local visitors.
If you have free time on your hand, the local cultural experience you provided to your guest might just be the one thing that make your homestay stands out among the rest.
As foreign visitors often travel with an expectation to experience the local offerings, a map provided at your place for starters would be a pleasant surprise, while other services such as information on cooking classes, local tours and even dance classes will not only make you a great host, but also might open up an extra stream of revenue if you are able to establish a good reputation, not to mention improving your ratings on the home sharing websites.
- Staying legal
Home-sharing or short term rentals face difficulties when it comes to legality, since there is no specific law that states that these platforms are prohibited at the same time.
There is currently no law stating one can be punished for letting tenants use one’s house for a fee.
Chur associates, Chris Tan shares home-sharing and short term rentals, generally fall under the local authority(state government) which differs in every states.
No licence categorises a property as illegal for short term lease, yet there are laws where commercial activities are banned from being carried out in residential properties.
The law requires home-owners to register their properties with the local authority and to comply with the prescribed terms and conditions.
Residential properties used for home-sharing can be considered to be a business, which is beyond the residential usage and will have to seek clarification from local and state authorities, as permits are required to stay legal.
However, landlords and property owners should receive the permission of the local authority before starting their businesses for short-term rentals.
As of now, a license is not required for home-sharing purposes, but there are certain guidelines one should comply before stepping into the home-sharing trend.
- Safety and smart features for security
Safety is one of highest concerns with regards to rental seekers, a cosy place to stay and their safety is deeply essential.
Things can, and may go wrong therefore it is advisable to be conscious of these possibilities.
A home security system might seem to be an afterthought at more peaceful times, but it is becoming an increasingly important feature when it comes to choosing a place to stay.
Moreover, smart features such as the implementation of Internet of Things(IoT) and other home automation options, could compound on the convenience of one’s home, not to mention potentially saving you money on utility cost, as one could remotely control certain home devices with these smart functions.
