You have more than one house? Buying a property is long said to be a value investment. So to cash out either you sell it in the future or you rent it and collect the monthly cash.
So how about the element of a guest house? In an area that so strategic in terms of tourist hot spot, to turn you rent house into an ala hotel is somthing to think of…
But usually people mislead it by calling this kind of house a homestay. By the term that have been develop by Tourism Ministry of Malaysia, a fully furnished individual house being rent by a guest is not a homestay.
A homestay by Tourism Ministry terms is more than just a guest house, rent house or a hotel. It’s a community experience that involve a committee in the particular village that requires a group of houses. They promote local activities and this kind of homestay will be recognized by the ministry. More about Malaysia homestay here, here and here.
In other hand, a house that turn into a guest house is private owned and we can called it a house stay or town stay or kampung stay.
As far as i know you can do what ever you want to your house like rent it to anyone. Does not require any specific license from the ministry.
Can be a good cash cow if the location is strategic. Imagine if you rent your terrace house in Melaka town area you got about RM350 to 450 per month.
But let say you turn in into a guest house and got occupancy every weekend for example 4 night in a month. You charge a RM250 per night. So in one month you can get RM1000 per month. Of course you must pay the utilities bill but I don’t think it will be a big deal for just one night.
Group vacation or a family now really appreciate a fully furnished house. A private fully furnished house can be more affordable than a resort bungalow. The advantage will be :
1) You can expect more cleaner interior / bedsheets as the owner will regards it as his house.
2) From as low as RM180 you can get a terrace bungalow with 4 bedroom and all you can imagine in your owned house.
3) Family activities can be arrange freely.
4) Save on the food.
Laksmana Townlodge is the example of it in Melaka.