You have finally purchased the holiday home of your dreams on the beautiful island of Bali where you will spend a few months a year. For the remaining months, you might like to rent it out and earn some return on your investment, or you could even rent out a room whilst you are staying there. Before you jump into the rental business, it is worthwhile understanding some of the … Read the rest “Pondok Wisata License and Other Legal Requirement to Rent Out your Property in Bali”
We have been receiving a lot of queries from our readers on the rules and regulations to operate a homestay in India. While the Bed & Breakfast Scheme of the Ministry of Tourism has its set of rules for operating a homestay in the country, the separate regulations implemented by the individual states make it very confusing for someone who wants to start a homestay.
And it’s not surprising that … Read the rest “Few Facts you Need to Know About Registering your Homestay in India”
Once you have your dream holiday home in sight, it is important to ensure that you understand what your taxation obligations are in Australia. There may be opportunities to structure your purchase better to minimize taxation over the life of your investment and when or if you decide to sell your property.
From a tax perspective, if you earn income in Australia you will generally be required to pay tax … Read the rest “Your Tax Obligations on a Rental Property in Australia”
When you purchase a property in Australia, you will generally be required to take a Building Insurance if you have a mortgage on the property. This will cover the property for damage to it such as a fire. Even if you don’t have a mortgage on the property, Building Insurance is an essential cost to ensure your property value is covered in unfortunate circumstances. Whilst some cultures consider it bad … Read the rest “Is It Worth Taking a Landlord’s Insurance in Australia?”
Holiday home owners on many occasions lose out on guests due to the usual delays in signing of the rental agreement. The guest would promise they will send the contract first thing in the morning and you would block the dates at your end in the meantime. But days pass and you still don’t get the contract and thus lose out not only on that guest(s), but also others who … Read the rest “Using HelloSign or EchoSign for E-Signature of your Rental Agreement”
After the recent incident in a Mangalore holiday home and allegations from officials that several accommodations were flouting homestay rules in several parts of Karnataka, particularly in Hassan which sees a lot of plantation homes, we have been receiving queries from many owners asking about the homestay rules, requirements, etc. Holiday Home Times spoke to the Assistant Director, Karnataka State Department of Tourism, Mr. Bhaskar to find answers to questions … Read the rest “Rules and Norms to Operate a Homestay in Karnataka”
The July 25th incident where a group of students celebrating a birthday party in Mangalore’s Morning Mist Home Stay at Padil were molested by miscreants inside the premises has raised a lot of questions.
However in the eye of the storm is the property’s owner, Dr. Francis Pascal Subil Rebello who has been hassled to great extent both by the incident and also by local authorities. A Mangalore City Corporation … Read the rest “Morning Mist Home Stay Incident – Why is the Owner Being Hassled?”
Holiday home rental invariably means you will be opening the doors of your house – that represent significant monetary and sentimental value – to guests whom you definitely haven’t met before. So trust is the first factor that decides whether you would be renting your property to a set of guests or not. You will definitely have a list of dos and don’ts for guests, which you would like them … Read the rest “Creating Enforceable Holiday Home Rules for Guests”
For expats living in the Philippines, employment is not the only option. In fact, another lucrative option is set up your own business. Of course, not everyone knows how to do this. That’s where things become a bit tricky. To register a business, you’ll need to go through a meticulous process of preparing the necessary documentation and paying the required fees. While the ability to register a company may take … Read the rest “Registering a Business in the Philippines”
If your property is located within a gated community managed by a Co-operative housing society or a Homeowners’ Association (HOA) there may be numerous restrictions which might come between you and your holiday home rental business. We have seen various forms of this including restrictions on operating a guesthouse or bed and breakfast, to restrictions on rentals below a certain duration to requiring that all tenants are approved by a … Read the rest “Restrictions Imposed by Co-operative Housing Societies and HOAs on Guesthouses / Vacation Rentals”
For holiday home and homestay owners it is very important to have a cancellation and refund policy so that it does away with any kind of ambiguity or misunderstanding between you and the guest later on.
As the owner of a holiday home/ homestay the ideal refund policy is to give travelers limited flexibility in case of cancellation. However you must ensure that it does not hurt your business. … Read the rest “Why a cancellation and refund policy is important for holiday home owners”
Hotels and other supplementary accommodation are an integral part of a tourist’s visit to a place and the services offered by them can make his/her visit memorable. With the aim of providing comfortable Home Stay Facilities of Standardized World Class Services to the tourists, and to supplement the availability of accommodation in the Metros and tourist destinations, Ministry of Tourism will classify fully operational rooms of Home Stay Facilities as … Read the rest “Guidelines for approval and registration of ‘Incredible India bed and breakfast’ establishments”
Before you start your holiday home rental business, you will need to make sure that your property complies with the laws and regulations of your city and county. Here are some of the areas you need to look into:
Short-term renting: Most countries have different rules and laws for short-term rentals. So it makes sense to check with the city administration officials about the status of short-term rentals in your … Read the rest “Getting started with your holiday home business – complying with rules and regulations”
Himachal Pradesh, the Indian state at the foothills of the mighty Himalayas is perhaps one of many Indian states which have given a major boost to the Homestay concept. The state government has been giving several exemptions in the procedural registration of such units, including change of land use fee, luxury tax, sales tax and commercial charges on electricity, etc.
The adoption of a liberal attitude of the authorities of … Read the rest “Himachal Homestays – register today and earn a steady income!”
Image via WikipediaIt is seen that most people who run homestays don’t actually have any legal agreement that is signed between themselves and the traveler. While this is not legal advice, this at least provides an outline for the various things that need to be covered that you can share with your legal advisor.
1. All details to be given: Ensure that the agreement outlines the address of … Read the rest “Protecting Yourself – Rental and Check-in Contracts”
Image by Venn Diagram via Flickr
Today’s article relates to a basic query that most owners of Holiday Homes and Homestays have. This is even more relevant as quite a few may not be business people or experienced with legal matters. I’m writing this to give a quick overview and to outline the various options. This is my advice as an experienced business person. However, I am not a Chartered … Read the rest “Homestay Basics: Should I form a company for my homestay?”