Homestay Vs Rent Out Comparison

The Story Of Developing the Creativewise Homestay
Kent Lau

Do you know why I build this homestay?
This homestay is born out of a challenge. The monthly rental of Kristal Villa is at RM 950 or less. The potential tenant doesn’t appreciate at all the well-maintained swimming pool, the secure living environment, the jogging track that keeps tenant healthy, the beautiful green forest surrounding here, the clean corridor, they only concern one thing – to get as low rental as possible.

The monthly loan repayment is RM 1,200, plus the maintenance fee RM 161.28 + sinking fund of RM 16.12, total up to RM 1377.40. We have a negative cash flow of RM -427.40 every month, in a year, I as the landlord lost RM 5128.80.

But what if, what if I transform it into a homestay? What if I can? What will happen? Then, as an Excel trainer, I start key it the figure and found out that – I could potentially lower the lost to RM 1168.80, a monthly lost of RM 97.40.

So, as the last tenant moves out on August 2017, I decide to turn it into a homestay.
The journey of building this homestay is not easy, it is a challenge to me and myself. As we are not running a very big business, and we did make some wrong investment decision that resulted that I have to service a monthly repayment of a personal loan, so we have a limited budget to build this homestay. Nevertheless, we want to give the best we can to the guest, we decide to shop for furniture. The furniture shop offers us set of furniture at very low rate, but quality wise, it is not good, and I don’t it. So, we visited the 2nd furniture, and we got something nicer and that’s where we brought all the brand-new queen bed, single bed, sofa bed, mattress. Then we go to a shopping mall to purchase the brand-new blankets….and swimming circle for your kids’ enjoyment. In short, we want to give the best we can. Adding the best value we can with our limited budget.

After getting this done, then I realize I have another challenge: I couldn’t cope with the new guest inquiry, request, I’m almost giving up, but then I came to a new feature called co-host. I have no idea what is co-host. But clicking the button on AirBnB, waited a few day, then….. Eddie shows up, the experienced AirBnB co-host contacted me, we meet up and we discuss, we signed agreement, he help me strategize how to give the best experience to the homestay guest, the rest is history, he help me to handle guest request while I busy doing Excel training, he help me clean up the homestay after every guest check out. Eddie and his team helped me a lot. Thank you, Eddie and his team. Success is not by accident, I have to take the courage to turn it into something I have never done before – homestay, I have to do whatever it takes, but most important, I have to have a trusted team, my dear team leader Eddie.

If you are like me, have a property, but cannot get a good rental, I hope you do not give up in building your own homestay, find a good co-host, email me if you face some challenge in starting your own business (a homestay is a business). Alternatively, you can purchase my book at this homestay to find out how I become a trainer from jobless to hopeless to a successful Excel corporate trainer and now owning a Training Provider business and SpeedExcel™ team.
We hope you enjoy the stay with Creativewise homestay, find a memorable experience. Most important, safety first.
Thank you.

To book my homestay, please visit

https://www.airbnb.com/rooms/20668370

 

Kristal Villa Kajang homestay list:
1.
Dkajang villa
https://www.facebook.com/DKajangVilla
2.
Kajang Cinta Kristal Villa Homestay
https://www.facebook.com/Kajang-Cinta-Kristal-Villa-Homestay-1461819847443694/
3.
Thoriq/Hamzah
https://www.facebook.com/OrchidHomestayKristalVillaCondominium/
4.
Azalea Homestay Kristal Villa
https://m.facebook.com/azaleahomestayKV/
5.
Mamanis Homestay
https://m.facebook.com/Mamanis-Homestay-at-Kristal-Villa-Condominium-1224382654346444/
6.
https://www.facebook.com/DVilla-Juwita-Homestay-1238916669521429/info
7.
https://www.facebook.com/kvhomestay/
8.
https://www.facebook.com/sazahomestaykajang/
9.
https://m.facebook.com/Homestay-Tok-Ayah-Bangi-Kajang-369446646541271/
10.
Kent Lau Homestay 01 – RM 200/night, 7 pax
https://www.facebook.com/Homestay-Kajang-101688180558754/

Homestay Budget 2017
Homestay Budget 2017
Homestay-Budget-2017.xlsx
10.0 KiB
14 Downloads
Details...