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Trying to turn my apartment into a business

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  • 16-11-2014 4:47pm
    #1
    Littlespace
    Registered Users Posts: 21 ✭


    Hi there,

    I'm seeking advice on the following.

    Myself and himself have decided to move in together. I own an apartment in the north west and he has a house in the same town. Both living alone so we have decided to move into his house as it's bigger etc.

    I live in a town that is booming (still) with the hens and stags market. I've never looked into using my little place for this but the block that I live in is entirely used for this purpose so I think it's time that I tapped into the hens and stags market.

    Has anyone got experience with this? I know there are insurance issues to be sorted and there will be an initial cash outlay to get this place ready but, in terms of managing it, how do you go about this? Do you take an addition deposit from guests and return on check out day?

    Or, are there any other ways I could generate an extra income from my apartment? Renting to tenants isn't an option I'm afraid as the apartment is in a real party complex! I bought is as it was marketed for young professionals durning boom and and a fortnight later the place was over run with hens and stags! It's all very well managed here, security every weekend, no access to the apartments unless you have a special key to show to the bouncer. But you couldn't rent it to tenants as it's way too noisy here at the weekends.

    There is ample parking, it's smack bang in the centre of town, literally a 10 second walk from the nightclub!

    Thanks in advance for all the advice!


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    #2
    antoinolachtnai
    Registered Users Posts: 9,793 ✭✭✭antoinolachtnai


    It sounds like a load of madness, but it might be worth giving it a go. You need to find out how the other apartments in the block are marketed and managed. You really need to work in conjunction with them if you can.


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    #3
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Depending on where the apartment is, and if the town is popular apart from the hens and stags you might get some rental off AirBnB during the week when its not a party spot. Outside of that I dont see much option apart from go the route you already stated. Maybe contact some of the local hotels etc and see if they would offer it to people if they were booked up etc so that you have other options.


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    #4
    Into The Blue
    Closed Accounts Posts: 2,358 ✭✭✭Into The Blue


    Is it the courtyard apartments in Carrick on Shannon?

    An agency looks after renting some of them out, could go with them..


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    #5
    braddun
    Banned (with Prison Access) Posts: 1,221 ✭✭✭braddun


    you know they will wreck it

    if its in a residential complex it will not be suitable


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    #6
    DoYouEvenLift
    Banned (with Prison Access) Posts: 3,188 ✭✭✭DoYouEvenLift


    Would probably just stick to traditional renting to save the headache or else air bnb. Can't imagine having to deal with drunk fools shenanigans and damages on what would probably be a regular basis being a long term thing


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    #7
    Littlespace
    Registered Users Posts: 21 ✭Littlespace


    Has anyone got any experience with air B and B? Thanks for all the replies


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