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Providing facilities for paying guests in Mumbai is great idea but it requires a proper research work before you have decided to go for it in the city of Mumbai. First of all, do you know what a paying guest facility is? A paying guest facility is something between a good hotel and your home. If you wish to start a paying guest business then you have to understand that it is not like a standard hotel, it does not have 30 to one 70 rooms. A paying guest facility at the most will require 2 to 5 paying guest rooms.
Mumbai real estate is witnessing a declining phase. The rising rental prices for commercial and residential property are leaving property hunters confused. Property analysts say that this unprecedented hike in rental values will compel many people and companies to exit the main city in search of cheaper homes and offices.
Residential rentals in Mumbai have been rising for the past many years because of limited availability and higher demand, and most of the tenants wished if they could buy a house and replace the rental payments with loan installment. However, such a dream is hardly fulfilled with the price range carries in Mumbai properties.
Sometimes back, 2 BHK apartment in South Mumbai were leased at Rs 45,000 to Rs 80,000 per month. Today, the same apartment in the same area costs a sizeable Rs 1.25 lakh per month. Rental rates are rising in others areas too. For example, in Bandra 2 BHK apartment costs Rs 90,000 per month, a few months back it was valued for Rs 30,000 per month. Rentals in Vashi, Navi Mumbai, has gone up to Rs 20,000 per month compared to Rs 12,000 per month two years ago for a 2 BHK apartment flat. So just imagine how one can bear such expenses without a paying guest facility in Mumbai. if you have a property to rent in Mumbai then PG is the best solution as many people can afford them.
If you wish to start a paying guest facilities in Mumbai for whatever reason, then I think you have made a profitable choice. You should also know that it might take a little time to completely establish a paying guest facilities.
If you plan on a such a business you have to keep in mind that the owners reside at the Inn. The owners at the site take it as their house and act as if the travelers are paying guests, but they are, just paying guest. The guests in the paying guest business expect that they are treated well.
When running the paying guests in Mumbai facility you should work on the breakfast serving. Make sure a healthy and tasty home-cooked breakfast is available to the paying guests every morning. You can make this breakfast available in a common dining room, or in the guest's own room; it's your choice on how you wish to serve them.
Today it sounds like paying guest franchises are getting very popular everyday. When start this business you have to face a lot of competition because more and more people with property on hand are getting into this business. If you are starting a paying guest facility for earning good profit, you should choose a popular franchise. Your paying guests in Mumbai business can be as successful as you wish to make it but don't forget it takes time to begin your paying guest Inn can be an easy way out. Paying guest facility business date back to the era of Roman Empire.
Found Mumbai Paying Guest: http://www.roommatesmumbai.com
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