society
WHAT TO KNOW BEFORE CONVERTING A RENTAL PROPERTY TO A HOTEL
WHAT TO KNOW BEFORE CONVERTING A RENTAL PROPERTY TO A HOTEL
BY DENNIS ISONG
Not everyone buys a property to live in. Some buy strictly for business when they envisage a kind of prospect with such property.
Property conversion is not new and has been in existence for a very long time. People convert the property to anything that suits their interests or commercial needs.
One of these conversions is buying a property that was once residential and converted to a hotel. The hospitality business is one of the most lucrative businesses just a few people can dive into because it’s capital intensive.
Converting a residential property into a hotel is not an activity that should happen on impulse. It should be thought through because there are circumstances it’s being surrounded with, most especially because the property wasn’t initially made for commercial purpose, how much more a hotel.
How can you know you are making the right decision?
1 . Does the community have more learned people?
There’s a big problem with having a property in a community where just a few percentages are learned. It will stifle anything commercial you want to set up there, especially for businesses like hotels, bars, clubs, etc. A larger percentage of people in the community have to understand and find your business good enough for the place. If you are thinking of having a hotel in a community full of religious fanatics, you may end up being frustrated as you are likely to have people unnecessarily harassing your customers.
People go to the hotel for various businesses but you can’t convince a religious fanatic that it’s beyond coming to have sex which isn’t anyone’s business.
You would do yourself a favor by avoiding such a community if your purpose is to convert a property bought into a hotel.
2 . Does the location bustle with activities?
These can be divided into two. It’s either your commercial property is in the heart of the city or close to the heart of the city.
Your business is more likely to thrive if it meets up with either of the two. Location is important in all businesses and not just any kind of location. Having a quiet, serene, and less crowded environment is good but may not be for your business.
I once lived in an area and never knew a hotel existed (which had been there for a long time) until someone mentioned it. I had to check the description out because I never thought a hospitality business would operate there.
So, in essence, not all locations are good for the hospitality business.
3 . What kind of hotel?
This part talks about the size of the property. A standard hotel needs at least 6 plots of land. Does the property fulfill this land size? If not, then, you are building a motel or guest house. You need to consider a lot, such as parking space, bars, pool, etc. if the property you are about to buy does not have enough space, you might want to consider something lesser than a hotel.
4 . Does the area have something similar and thriving?
I would urge that before making a final decision on conversion, you should find out or check if a similar business exists, how acceptable it is, how long has it been there, and how much it has survived. These answers will be a pointer to what you need to know and areas to improve when you build and establish yours.
5 . How motorable is it?
Buying a property and converting it to an area that does not have a good road channel is a disaster. Firstly, it’s important to note that such property should be closer to the main road for easy access. Then, the linking roads should be good enough for cars to drive easily to your investment property. Distance and clumsy roads could be a big turn-off to guests, they would rather find someplace better.
6 . Security
An investment like the hotel is open to all forms of danger. Numerous people are allowed in and you may never really know who is who. Meanwhile, you should prioritize your guests’ safety. To save yourself the stress of having to deal with insecurity, find out about how well fit their security is in the community, then also create your security after establishment.
7 . Ensure commercial activities are worth it
This is important. Ask questions to know if any businesses are to thrive there. Some places are so dry that it is difficult for any business owner to make money from their businesses. If the property you want to convert is located in such a community, do yourself a favor by not bothering to spend so much to put that kind of investment there.
Property conversion is a great idea only if it fulfills the requirements mentioned above.
Dennis Isong helps individuals invest right in Real estate. For questions on this article or enquiring about Real estate. Follow him on Youtube https://www.youtube.com/landpropertyng , Email [email protected] or Whatsapp/Call +2348164741041
society
HASBIL CARE FOUNDATION SPREADS HOPE WITH EGG DISTRIBUTION TO NOMADIC PRIMARY SCHOOL STUDENTS IN KADUNA
HASBIL CARE FOUNDATION SPREADS HOPE WITH EGG DISTRIBUTION TO NOMADIC PRIMARY SCHOOL STUDENTS IN KADUNA
In a heartwarming initiative aimed at uplifting the nutritional standards of children, Hasbil Care Foundation, led by its dedicated chairman Dr. Muiz Bakare, has successfully distributed eggs to students of Nomadic Primary School in Birnin Yero, Igabi Local Government Area, Kaduna.
In a statement made available to journalists on Monday, Dr. Bakare emphasized the foundation’s commitment to giving back to society, declaring it a top priority. “We believe that every child deserves access to nutritious food, and we are dedicated to making a positive impact on the lives of the masses,” he stated.
The distribution of eggs, a highly nutritious food source, underscores the foundation’s mission to enhance children’s health and well-being. Eggs are known to provide numerous benefits, including high-quality protein, improved brain health, support for eye health, and a reduced risk of egg allergies. Dr. Bakare remarked, “This initiative is not just about providing food; it is about nurturing the future of our children and ensuring they have the resources they need to thrive.”
Dr. Bakare further highlighted that this event marks only the beginning of a broader project that aims to extend its reach globally. “We are committed to expanding our efforts and reaching more communities in need. Our vision is to create a world where every child has access to the nutrition they deserve,” he added.
The Hasbil Care Foundation’s generous gesture has not only brought joy to the students of Nomadic Primary School but has also set a commendable example for other organizations and individuals to follow. As the foundation continues its mission, it stands as a beacon of hope and a testament to the power of philanthropy in transforming lives.
With the ongoing commitment of Dr. Muiz Bakare and the Hasbil Care Foundation, the future looks brighter for countless children in Kaduna and beyond.
news
Ijebu-Igbo Traditional Council Offers Ex-Reps Deputy Minority Whips, Adekoya ‘Bobasuwa’ Title To Appreciate His Unwavering Support For His Constituency
Ijebu-Igbo Traditional Council Offers Ex-Reps Deputy Minority Whips, Adekoya ‘Bobasuwa’ Title To Appreciate His Unwavering Support For His Constituency
Solanke Ayomideji Taiwo
ABEOKUTA — The Ijebu-Igbo Traditional Council has offered the Ex-Reps Deputy Minority Whip, Adesegun Abdel-Majid Adekoya (ATTACKER) a Traditional Chieftaincy title ‘Bobasuwa’ of Ijebu-Igbo, Ogun State on Monday, 14th of October, 2024.
According to the letter written by Alayeluwa Oba Lawrence Jaiyeola Adebajo, Orimolusi of Ijebu-Igbo, he said Rt. Hon. Adesegun Abdel-Majid Adekoya was carefully selected based on his exceptional character, with a commitment to the development of job-Igbond her people.
“Your selection for this noble title is in recognition of your ‘sterling qualities and contributions to the social
And economic development of our people, ljebu-Igbo Kingdom, Ogun State, and the country Nigeria.
It is my fervent hope that you will see the conferment as a mark of honour and challenge to do more for the ljebu-lgbo Kingdom, Ogun State, and the Country.” Oba Lawrence Jaiyeola Adebajo added.
The conferment ceremony was announced to take place on a date to be announced.
Congratulating Rt. Hon. Adesegun Abdel-Majid Adekoya and Oba Lawrence Jaiyeola Adebajo wished him success on this appointment and wished him well in his future endeavors.
In response to the offer of Traditional Chieftaincy Title, The Bọbaṣuwa of Ijebu-Igbo, Rt. Hon. Adesegun Abdel-Majid Adekoya (ATTACKER) expressed his heartfelt gratitude for the honor bestowed upon him through the offer of a Traditional Chieftaincy title. “This recognition is not only a personal milestone but also a significant moment that strengthens the bond between our community and its rich traditions.” He said.
“The role of the traditional rulers in preserving our cultural heritage cannot be overstated. Your leadership and commitment to fostering unity, peace, and progress in our society are truly commendable. I am deeply humbled to be considered worthy of such a prestigious title, and I assure you of my unwavering dedication to upholding the values and responsibilities that come with it.”
“This honor will spur me to contribute more actively to the development of our community. I look forward to collaborating with the Council and fellow members to promote our traditions, support local initiatives, and uplift the lives of our people.” He added.
Once again, Rt. Hon. Adesegun Abdel-Majid Adekoya (ATTACKER) thanked the Ijebu-Igbo traditional council for the incredible honor. Assuring his eagerness to serve the community with integrity and commitment, reflecting the rich legacy of the ancestors and the aspirations of our people.
society
FROM INTERN TO INDUSTRY LEADER: THE JOURNEY OF GAMBO ZINGTIM OBED IN CORPORATE COMMERCIAL LAW BY CHINEDU NSOFOR
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