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How to Start a Rental Guest House

a Guest Cottage

The idea of entering and starting a ‘cottage/guest house‘ rental side business, can operate with success, if done with great marketing and management.

A search online having to do with cottage rentals, you will find quite a few listings about such places. Such an endeavor can provide an extra source of income. Where do we start?

2nd Income Trends

A trend in the housing and rental industry was recommending to have a ‘guest‘ house built on your property. One could use it for their elderly parent or as a rental income.

You will need to do research into local municipal by- laws, zoning laws and regulations about providing such accommodations. Applications and fee’s can be found at the local municipal city hall office. Also, one must get a business license to operate such accommodations.

Cottage/Guest house short-term rentals have been an ongoing popular operation and source of income, for many years. Those who are able to afford buying their guest house may live in their own primary residence or have a second cottage for personal use.

It does take money to begin this project but the long term pay off can be quite rewarding. A successful operation can bring repeat business, continuous bookings, a good reputation and sense of prestige. A family could poor their money together to have one built, get it successfully listed for repeat rentals, and then build another.

Required Skills and Knowledge

Operating a rental business does require knowledge in the hospitality and tourism industry, local Landlords Act along with business management skills.

It is IMPORTANT to have these skills, and I do recommend at least taking a course in these areas. A business plan will help you keep ‘direction‘ and ‘overview‘ of maintaining the following skills ;

  • business
  • marketing skills will help you learn to promote, advertise
  • know your competition
  • financial skills will help you stay in operation
  • business law will help you be aware of rights and responsibilities ,as an owner and for the customer/tenant.
  • Paper work is involved with this business, as all businesses do have to provide for tax reporting.

The owner of a cottage or guest house will have some steps to follow once skills and knowledge are gained. A first step is having the property, for a cottage or guest house, and figuring out, how to set it up their occupancy rates.

second income rental
earn with second income property

A Peek into a Part of this Type of Operation

If it’s a two to three bedroom, one can offer a occupancy of three to six people, if functioning as a ‘cottage‘. This is done if you have bunk beds in the bedrooms and/or pull out beds. Furniture would have to be sturdy and removal of ‘personal‘ items done. Keep it to bare necessities as the ‘guests‘ will bring their own. Just think how a hotel room provides for their guests.

A method to deliver keys for the guest(s) would be required. Some may have a ‘lock-box‘ on site, a key pad lock may also be used or just go out and meet them in person, to deliver the keys. A major consideration and requirement for any business, is insurance.

Liability and Equipment for Safety

Do shop around and meet with insurance agencies who can provide for ‘vacation‘ or ‘rental‘ accommodation businesses, and they provide a good pricing range. Insurance protects you, your property and customers.

Hotels have computerized programs which help them with their booking schedules. As a small owner/operator of your guest house or cottage, you can also find computer software programs to help you with your own booking schedules.

One can also offer to add the traditional method, of signing a guest book upon arrival and departure, if you’d like to add sense of ‘vintage‘ to your operations.

gypsy wagon rental
gypsy wagon beach rental

Promotion for Building Awareness

The advertising and promotion of your cottage or guest house will create awareness and bring customers. This can be done with attending trade shows related to the tourism and hospitality industry, registering with ‘vacation‘ or ‘rental‘ agencies, creating your own website with option to ‘book‘ a time schedule. Check on how to get on tourism sites, partner with local hotels.

Excellent photographs will be needed since these will help provide prospective customers with an idea of what they will find. This is also a good time to share available local sights and amenities, available activities and resources (boat, canoe, etc.). It’s suggested with your advertising, that it be done on international, national and regional sites to build and gain a wider awareness of your service(s).

Live in Action

Extra Reading

How to Start a Bed and Breakfast in Ontario

CMHC- Dealing With Problems

Brian’s Backyard Tiny Guest House

Conclusions

Owning a cottage or guest house can provide an interesting and rewarding experience. You can eventually hire and allow a property manager to oversee this small venture once able to afford the extra costs of hiring.

This area of business would be considered part of the real estate industry and why it’s popular. It can provide a source of supplemental or eventual full time income, and improve your quality of living. It will take patience to learn all that’s involved along with the costs to acquire such a property but as mentioned, the long term benefits can be rewarding.

I hope you found this article informative. Please feel free to leave your comments and share with your Friends. Use the ‘Ask a Question’ form and recommend a topic of your own interest, for the next Post! 

AIC|An Informal Cornr, all rights reserved. Ginsense writes articles on business skills, development, health, science, technology and society and enjoys advocating for independence, security and a better world for all of us.

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How would you like your Bill served?

bills in the mail box

A business owner and customer sit down together for a meal and moan about paying their bills, each from their own perspective. They agree about the joys of receiving their monthly bills whether by snail mail, or email, if you’ve gone the paperless route.

So many bills! Telephone, mobile phone, vehicle, satellite dish, internet, mortgage, insurance, etc., and the list goes on! Well, for those who can afford these ‘privileges’, will see these bills every month. What if a change occurred in delivery of our bills?

 

Business Plans and Tools

A business development and management course I had taken taught putting together a business plan. One of the steps requires annual cash flow projections showing a slight increase, of prices each year and keeping up with potential of rising inflation and/or our competitors. This helps to see, and/or, realize the potential success, of the business project at hand aka the financial forecasting exercise.

Research is done by marketing firms and businesses to check out ‘trends‘ and/or discover new customer insights. These reports are tools that help businesses adjust and improve their own marketing efforts, to their existing, and/or, for new customers yet still make a profit, to continue operations of their business. It is a great practice and tool, for all business owners.

Customers Collective Buying Power

Now, at the other end, we have our customers. As a customer myself of different services, I have come to realize that many businesses earn over the top profits, with the amounts of monies paid each month.

Our governments have control over infrastructure and delivery of some of these services, such as Hydro and we know that our electricity bills, are skyrocketing, least in Canada. This adds a financial burden to many struggling to stay afloat of homelessness, unemployment, etc., since wages aren’t keeping up. What is up with that? Oh! Got to love this quote.

J.O.B.
Just Over Broke

A business needs customers to operate. The monies from every customer especially when gathered together, and drawing upon a customers ‘collective‘ buying power, add up. We are the ‘target market‘. Prices continue rising and we continue paying even though we’re at the edge of broke. I must add another quote that’s awesome, bear with me please. 🙂

I’m not Greedy if I ask for only $1 from the whole population

Examining that quote about not being greedy, can you imagine how much money can be gathered, from the whole population? For Canada, there’s near 34 MILLION people. Now, reassemble that number with the amount of one of your bills but lesser number of people, say, 12,500. 

Business planning requires answering the question about ‘market share‘ meaning, how many customers needed, to make a profit? Do you see the amount of monies a business can collect from their ‘target market‘?

Oh! the Businesses will cry Foul!

Can you hear the business owner protesting? Alright, yes, the business owner has bills and financial responsibilities of his own. S/he will have to pay off equipment costs, business loan debts, staff, business licenses, rent, memberships, equipment maintenance and/or replacement, insurance of one kind or other, etc., and it adds up.

One beauty about business plans, is they can pinpoint, to almost the nearest dollar, what exactly a business will be required to spend aka ‘expenditures‘. They can’t foresee all future obstacles, that may cause disruptions, of their services and/or products but it’s recommended, to be prepared.

Fair, Unfair and Outright Greed

The prices of many of our gadgets, utilities, services and needs will vary. As customers, we constantly seek out the lower price, to free up and further our own spending power. Some people say the government enrich themselves, off the backs of the People.

We see and hear about our government high salaries are paid with the Public tax monies, using Public tax monies to pay for ‘government business needs‘ (airplanes, chauffeurs, hotels, meals,rent) always wanting more, raising taxes, creating claw backs … Greed just seems to runs rampant in government office these days, yeah?

Customers don’t just stop at governments either. They will look at business owners and discuss the outrageous price hikes of various products and conclude, greed is the driving factor. The struggle to keep food on the table, heat, water, daycare, telephone, satellite dish, internet, the costs keep rising. Do business owners genuinely appreciate their customers these days?

Changing the Billing Model

The many businesses that exist, looking to improve their operations and/or, to attract more customers, can just look at their own ‘personal emotions‘ about bills, to find an opportunity, to change their marketing efforts. We can create our own ‘mover and shaker‘ experiences for customers.

A few simple ‘incentives‘ a business owner could offer customers and build ‘popularity‘ could be, the following

  • offer a one year FREE service for sending in referrals (but no conditions, such as must be new paying customer, that’s asking for unrealistic guarantee )
  • offer one month HALF price or FREE month (i.e., Christmas month)
  • offer a ‘once-a-month deduct your bill‘ customer day
  • offer once a year billing

The point is to realize, customers are struggling to make ends meet too. Rather than viewing them as a ‘money tree‘ and ripe, for harvesting them for every dollar. Take a step back and see, how can a business make their life easier, and, grow loyal customers?

Learning in Action

Extra Reading

Giving Incentives for Referrals 

13 Tips: Getting the Most out Attending a Trade Show or Trade Event

10 Online Customer Attraction Techniques You Should Zone in on in 2015

I hope you found this article informative and gained some new insight. Please feel free to share with others! Use the ‘Ask a Question’ form to make a request on a topic of your own interest. I hope you visit again for more informative articles coming soon.

 AIC| An Informal Cornr, all rights reserved. Ginsense writes articles on business skills and development, health, science, technology and society, and enjoys advocating for social justice, security, and, a better world for all of us.

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11 Facts about In Vitro Fertilisation

facts about in vitro fertisation

Infertility affects couples around the globe with the inability to produce their own genetic offspring.

Conception will depend on the health status, and production of healthy sperm by the Man, and healthy eggs by the Woman. Both sperm and egg must be able to meet, and ‘implantation‘ of a fertilized egg must be able to take place in the womb.

Natural abilities are sometimes amiss for couples. This inability to attain a pregnancy will cause great anxiety, anger, grief and helplessness. Luckily, health science and research have been developed to help couples.

Causes of Infertility

Factors that can affect conception to occur for males can be, low/no sperm, malformed sperm, short life sperm, spermatic tube blockage, undeveloped or damaged testes, from STD and/or trauma, or genetic disease.

Mutual immunological incompatibility (blood serum) may be suspect, exposure to pollutants is also another consideration, age, trauma, infections, medications, disease, reproductive organ malformations, high temperatures of male scrotal sac.

Women may face anovulation (failure to ovulate) due to stress, hormonal imbalance, tumor, cyst, ovary disorder, obstructed fallopian tubes, pelvic endometriosis, poor embryo implantation. It’s estimated that 40% of couples are affected with infertility cases.

conception meets
conception meets

Facts about In Vitro Fertilisation Treatment

The use of ‘in vitro fertilisation‘ techniques are one of the treatments offered to help. A few facts about this treatment are:

  1. Dr Edwards, Embryologist, develops human culture media for embryo fertilisation aka the ‘petri dish’ and partners with Dr. Steptoe, Gynecologist, who develops the method of using laparoscopy to implant embryos.
  2. Hostility and criticism was endured by both pioneers, from their peers, government, religious sectors as saying that IVF was creating ‘Frankenbabies’.
  3. Lesley Brown volunteers to undergo the IVF technique and succeeds in conception, declared officially pregnant.
  4. The birth is attended by government officials to document the baby is truly Lesley Brown’s child.
  5. July 1978, England, is the first to announce successful birth of a ‘test tube baby’ with no defects or abnormalities.
  6. IVF treatment availability comes with strict regulations such as specific age, diet, number of embryo transfers and weight next to differing costs.
  7. Medical tourism provides couples to opt for lower cost and regulations, of IVF treatment, in developing nations vs developed nations.
  8. Research today, is exploring how embryos attach to the lining of the womb when implanted thus possibly answering why the IVF cycle can prove unsuccessful.
  9. A high incidence of miscarriages with IVF treatment are common. Studies have shown miscarriages occur due to Aneuploidy, abnormal numbers of chromosomes.
  10. Stem cell research has succeeded in creation of viable offspring in animals but no reports of live human births from artificial gametes has been recorded yet.
  11. Research has shown that approximately 50% of Western men have decreased sperm counts.
artificial insemination procedure

Diagnostics help find Causes

Investigating the underlying causes of infertility are performed for both partners. This may require sensitive and specialized tests to determine if infertility is due to one or both partners.

Most specialists will require both partners to participate in a infertility study. Treatment for infertility are approached specifically with the results from each partner. Basic tests start with physical exams, endoscopy exams, laparoscopy exams, history of traumas, and family history of disease.

infertility diagnostic tests
infertility diagnostic tests

Alternatives to Infertility

Medical studies are on-going, and research never sleeps. A news story reported how a woman had a womb transplant and successful birth, there are Surrogate mothers, artificial insemination, and adoption.

It’s important to keep an open mind after all even science cannot cure infertility. It is a condition that nobody expects and blame is not on any one person. A child of one’s own genes is desirable, and children, all children, are deserving of our love and care.

New methods and discoveries will be, and have been found. One must keep their faith strong whether successful or unsuccessful.

I hope you found this article informative. Please feel free to leave your comments or share with your Friends. Use the ‘Ask a Question’ form and request a topic of your own interest for the next Post.

Learning in Action

Learning Resources

ABO Incompatibility in Newborns

Insurance Coverage for Infertility Treatment PDF

Miscarriage

ACI| An Informal Cornr, all rights reserved. Ginsense writes articles on business skills, development, health, science, technology and society and enjoys advocating for independence, security and a better world for all of us.

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