How To Start A Hotel Business Using Rent2Rent: Have you ever wanted to get into the hotel business, starting with very little money? Well, that's what you're going to be learning today. Recently I visited one of my students hotels, it's in Liverpool City Centre on Bold Street, where all the hustle and bustle is. In the video, he shows you exactly how he controls an awesome hotel with relatively little money down. If you want all the details, I highly recommend watching the full video until the end. You can find the video at the top of this page or on my YouTube channel.
You can operate your own hotel with a strategy known as Rent2Rent. This is where you rent a property from a landlord and then, with the landlords permission and the correct contracts, rent the property out yourself. In this case, you will be renting the property out by the night as a hotel. In this article, I will show you how to start a hotel business using Rent2Rent. If you find this article useful, please consider sharing it on social media. The more people that learn about how to start their own business, the better!
1. How To Start A Hotel Business Using Rent2Rent: Finding A Location
You should establish quite a wide area for your search. There is no point finding an amazing area, only to find there are no landlords in it who would be open to a Rent2Rent deal! Just choose a location that a lot of people travel to for work or holidays, and that you can easily get to. Get to know the area well.
Once you have some landlords interested, you can start researching more. Chain hotels spend a lot of money to decide where their hotels should go. They do studies and detailed research. So looking at locations near these hotels is a good start. They have done the work, so why not piggyback on their efforts? However, don’t rely on this alone. Call the hotels in the area and see what availability they have. If they are consistently booked out, you have likely found a good area.
2. How To Start A Hotel Business Using Rent2Rent: Approaching Property Owners
You can approach landlords directly using sites like OpenRent and SpareRoom, and speak to them via the sites' messaging system. You can also write to landlords, offering them a guaranteed rent for their entire property. To find addresses, you can get a list of HMOs from the local authority or use sites like RightMove, and simply zoom in on the door number. If landlords are interested, arrange a viewing and explain more in person.
You can also approach estate agents. This can be harder, but if you can get an estate agent to agree, you will get many more properties to choose from. Ask the estate agent if they have landlords open to ‘corporate lets’. Do not use the term Rent2Rent, as many estate agents are unfamiliar with the concept.
3. How To Start A Hotel Business Using Rent2Rent: Finding Customers
Once you have your property secured, you need to find customers. You can list your rooms on sites like Airbnb and Booking.com. You can also advertise and take bookings directly, although this will likely be a smaller part of your business, at least at first.
Provide excellent service, and you will soon have repeat guests and great reviews. Over time, you will get more bookings via word of mouth too. Know your target market and provide for their needs.
How To Start A Hotel Business Using Rent2Rent: Get Some Training!
So now that you know how to start a hotel business using Rent2Rent, it's time to get some training! Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
