Solving Homelessness by Converting Hotels into the Residential Unit: a Maxwell Drever Analysis

With the travel sector stuck in the pandemic hussle, most hotels are having challenging times. Policymakers see in it a chance of taking advantage of the struggle of this sector by converting those properties into housing units. All across the globe, governments have come forward to experiment with this opportunity and help fight the problem of homelessness. It’s because the workforce population, which forms an integral part of the population, is on the verge of eviction. Federal policies and programs are working like a stimulus to ease the issue of the housing shortage for the workforce. Hotel conversion has become a viable means of providing revenues to the hotel owners, on the one hand, and housing to the workforce population on the other hand. 

Grab revenues with hotel conversion

As mentioned earlier, government policies target two sectors. The first is the workforce population, and the second is the property owners. By coming up with policies and programs, they stimulate this conversion process. Hotel owners realize the significance of smooth revenue flow from their properties. Hence, Maxwell Drever says they have undertaken the initiative of converting hotel rooms into lodging units. By using a regulatory mechanism, they are initiating certain features in terms of quality and size to ensure a home-like environment. Remember that hotels and houses are very different from each other. Converting boarding homes, rooming houses, and reception areas is no joke. It requires proper planning and execution. However, whatever the hassle may be, it provides revenues to the latter. 

Hotel rooms in the central business district

Hotels do not get converted in any location. Those located in the city centers and close to the industrial sector are the best choice for conversion. It reduces the commute time and provides employers with a smooth flow of labor. As mentioned earlier, the workforce population includes professionals. Thus, policymakers try to protect central business areas from the problem of the housing shortage. 

Adhere to land-use restrictions

Rules and regulations, local codes, and land-use restrictions are typical everywhere. Although there are minor differences, these restrictions operate in every state. In the present scenario of hotel conversion, developers and investors have to comply with these rules and regulations when undertaking the project. Remember that the conversion must be a legal entity. If you want to ensure that the building is free from difficulties, Maxwell Drever suggests you must ensure compliance with current zoning regulations. 

Provisions for basic communities

Striking a balance is hard but necessary. It has to be something which has every basic amenities from gas oven to microwave to the refrigerator and cooktop. They must get a home-like feeling. Moreover, it has to meet the minimum standards of a residential property. The conversion must cater to the requirement of the workforce and should transform the hotel rooms into residential apartments. 

When reporting hotel rooms, ensure that it is reasonable enough for the workforce population. The goal here is to help this vulnerable section with lodging. 

Although it will provide the hotel owners with regular revenues, it cannot be so high to pressure the workforce population. Hotel owners must cooperate with the public institution to ensure proper operation by using land use approvals and local codes.