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Starting a bed space business in Philippines.

I am married to a Filipina and we are planning to start a bed space business in Philippines.
The place where we will build it is flexible and definetely near university, college or factory.
I am thinking of building around 100 square meters.However, I am not sure about the cost.I would appreciate if anyone has a general idea about that, although I know it depends on the area.
Thank you!

the cost of bed spacer here depends on ur location, if ts near universities and near the main road,for students it would cost about 1,500 in a 4 to 6 bed units in a room.atleast one toilet and bath for every room...one common laundry area which should be spacious enough..common dining area and kitchen,,u set some rules for the use ,cleaning of the common areas..if it will be near offices..its could range from 2-3k for 2-3 beds in a room..a bit more space for them coz theyre working and need more space.same thing,,common laundry area,kitchen dining and living area..the electric and water bill is not included ,,u can set an amount for that or u can include that to the rent.Yo u set rules for ur occupants. do's and dont's if u dont want ur place to look and smell like sh*t...i have a friend who converted hr place to a semi dorm things like what u ar planning.near a university and most are from the school she is working ,so she basically knew everybody..and they follow all the rules ..well, goodluck  to ur plans..make some surveys first on he  location ur planning to build ur plans and never to forget to get all the necessary  permits for it and safety guidelines  before building ur place..lots of vultures  in municipalities  once the see some very little mistake on u....

violet23 :

the cost of bed spacer here depends on ur location, if ts near universities and near the main road,for students it would cost about 1,500 in a 4 to 6 bed units in a room.atleast one toilet and bath for every room...one common laundry area which should be spacious enough..common dining area and kitchen,,u set some rules for the use ,cleaning of the common areas..if it will be near offices..its could range from 2-3k for 2-3 beds in a room..a bit more space for them coz theyre working and need more space.same thing,,common laundry area,kitchen dining and living area..the electric and water bill is not included ,,u can set an amount for that or u can include that to the rent.Yo u set rules for ur occupants. do's and dont's if u dont want ur place to look and smell like sh*t...i have a friend who converted hr place to a semi dorm things like what u ar planning.near a university and most are from the school she is working ,so she basically knew everybody..and they follow all the rules ..well, goodluck  to ur plans..make some surveys first on he  location ur planning to build ur plans and never to forget to get all the necessary  permits for it and safety guidelines  before building ur place..lots of vultures  in municipalities  once the see some very little mistake on u....

Thank you very much for all the information.

I'm sure you are talking per week... But, just to be clear please let us know what price range you are really quoting.

Bedspacing is far from profitable if you have to build an area for profit such as that. If you already have a home with extra room then very good.

Bedspacing is transient and that means people come and go so don't expect a windfall of profits. At best expect 10 to 12k per month for a four room. That's if you  are lucky enough to pack the rooms with 3 to 4 occupants.

Guys i suggest condo sharing is far more profitable because young proffesionals has money working in call center and in BPO if you have a decent condo with nice furnishing there is no way it will go vacant! Believe me guys i was once a patronizer back then of this type of business good thing i have my own place now...


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Thanks

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I was thinking to charge per month with four bed rooms,totally 8 units.Every unit will contain individual WC/shower and the space will be around 15 sqm.
So we are taliking for 32 beds.The rent will be around 1,500P to 2,000P per month.
Of course I know there is always competition but I think of you provide good quality, you can beat the competition.

Andreas Greek :

I was thinking to charge per month with four bed rooms,totally 8 units.Every unit will contain individual WC/shower and the space will be around 15 sqm.
So we are taliking for 32 beds.The rent will be around 1,500P to 2,000P per month.
Of course I know there is always competition but I think of you provide good quality, you can beat the competition.

Trust me at that price you won't have a lot of competition. In Metro Manila you can ask double that.

Hello, It`s a great idea, My name is Resty and I`m from Marikina City. A lot of folks around here in our place were we are very near the school have their bungalow houses converted into a bed space and computer shops, bakery, sari sari store and kitchenette. if you are interested I am selling my 308 square meter house and lot. It has 8 bedrooms, three bath rooms and toilets. With two Meralco meters that means, you can use one for your business. It is a 3 minutes access to transportation, schools, grocery stores, gas stations, banks, market and churches. My family and I are moving to my daughters place in Macau.

Hey, Resty here again I forgot to add that my house have a wide frontage so, if you want you can also build a commercial apartment or a bakery store, computer shop etc..Thanks.

Thank you Resty for the offer but it is very early to say.I am just in the begining and still planning.

If you need a long term tennant I'm the one. I'm there often enough and having a crash pad would be great. Inbox me and let me know when what and where... Thanks

Don't build on flood prone areas. You might find your furnishings, beddings and appliances soaked and damaged by muddy waters. Avoid also those close to fault lines.

Thank you all for the advice!

Do you already have the land at the location you are planning to build? If not then I would suggest to look for another business project. Price of land in prime areas (such as besides universities or downtown) are extremely expensive. Given your plan of an 100m2 building, say you even find a land and make the building, you are looking at a total cost of above 250.000$ or 200.000euro.
Come here, start living for a few years, it is not as easy as you might think, Philippines is not a place where everyone can fit just fine. After you live 2-3-4 years then you can look what business to make. Have in mind that everyone here offers you all kind of business to make, promising you the word in a can. After your money is gone, so the "willing to help" people are gone too. Be careful.

Thank you for your reply!I stayed for 3 weeks.People are friendly but I realized that when business is concerned things change.However, this happens more or less in all over the world.So I have to agree that I have to stay for a while before I decide this idea.

Finally,I am afraid I will have to disagree with the budget that you mentioned as I already checked for land and made a draft cost estimate.At least for Naga City, where I am interested for the bed space business.

Thank you again!

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