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Finding Hostel Properties

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jwynns started this discussion 8 years 8 months ago

Hey everyone,

I'm in the process of starting a hostel, but there's one issue...how to find the right place! I'm looking to start one in Tallinn, specifically. The question I have is, where would I look? I tried to look for commercial spaces, but usually only find office space and warehouses for rent.

I'm looking for a medium size place, anywhere from 6 to 10 rooms and about 3-4 bathrooms.

Thanks!

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Rucksack Brian

8 years

The office spaces and warehouses may not be so bad, because you have a fairly blank slate that you can build and customize the way you like. Plus they are probably already zoned for commercial use.

If you tell a real estate agent what you're looking for they can do a lot of the house hunting for you. Sometimes they get leads on properties that might become available before they actually hit the market. Another idea is to pick an area that you like and simply walk or drive around looking for buildings with For Sale/Rent signs. This takes a lot more of your time, but it also gets you in touch with the area that you want. You could also ask banks if they have a list of foreclosed properties, although your real estate agent may already have this.

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Marcuo

8 years

old houses hardly have enough space and lack of baths. offices on the contrary although ussually having space lack of baths, kitchen and even hot water... from what I have seen old houses in good shape are the most prepared premises but not always have enough room. Finding a closed hotel or similar maybe the best option. good luck

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Rucksack Brian

8 years

It’s very popular in smaller European cities (and in other parts of the world?) to set up small hostels in apartment buildings. The rent is affordable, the space is usually quite manageable, and they’re frequently located in nice neighborhoods.

Despite these advantages though, it’s usually best to find an entire property. Dealing with neighbors is one of the biggest challenges for hostel operators in this type of arrangement. That alone could even lead to having your business shut down just after you invest all of your resources in it. Then there are also challenges with noise and security regarding other people coming and going through the building. Remodeling the space to fit your needs can be more difficult, too. Not to mention licensing, as you will obviously want to run a legal hostel business.

Many areas have laws that specifically prohibit hostels from opening in apartment buildings unless you occupy all of the units.

That said, if the local laws allow it, apartment buildings are another option.

As Marcuo mentioned, former hotels, or former residence halls from universities or boarding schools, old schools themselves, or even churches could also be options to look into.

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