Why should I host?

The reason why you should host on Chupspace

Today’s economy is challenging for many businesses. In addition to the ever-present difficulty acquiring customers and sales, rising rents and high commercial mortgages in cities such as Kuala Lumpur have many small business owners sweating. We believe Chupspace has the solution: think differently about your underutilised space. By using productive space differently, people can find new venues to fit their passions.

Lounge area underutilised by the day

As an owner, you may be asking yourself, “Why should I host?”

We’ve talked to many entrepreneurs, artists, and companies who struggle to find great places to conduct their work. Sharing your workspace as a Host could make you money while aiding someone who is in need of a temporary space to jump-start their business. Chupspace makes it much easier to fill underutilized space and unlock the potential of your property.

Think about this– the neighborhood bakery that closes in the afternoon would be a great place for a new chef to test out his recipes, or a dance studio that’s not being used in the morning would be the perfect place to host a boot camp class. People shouldn’t confine their passions to a specific kind of space. Get creative! Who knows, it could spark new ideas and lead to new business ventures.

When a Host decides to share their space, they are welcoming a Guest into their business that they have built up and maintained over time. Our Hosts have told us that a Guest’s appreciation for their one-of-a-kind space is a big reason why they let others use it. Bookings through Chupspace allow users to connect with like-minded individuals, share creative ideas, and ultimately expand their professional network in a more personal way than what’s possible on any other social network.

So yes, there is a very real monetary benefit to listing your space. Our vision is that the money a Host receives from sharing their space will support healthy operations. But bookings on Chupspace usually end up being a much more profound experience for our users. When you join the community, you soon realize it’s not simply another revenue stream, but also a great way to meet and work alongside amazing people.

Find out why people list their Spaces on Chupspace and start hosting today!

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Make money by renting out extra underutilised spaces by the hour

Chupspace

Chupspace connects professionals to creative spaces, while helping small business owners monetise their underutilised spaces by the hour.

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7 things to know before accepting a film shoot booking

Professional production crew often look for apartment and homes to shoot in. Whether if it’s a short film, TV commercial, drama, or movie, professionals can find spaces that suits their next shoot easily on Chupspace.

While you can rent your apartment on Airbnb, it is very unlikely that you’ll be renting out the whole house as you will lose your place for the night. There are no easy way to make use of your existing space before Chupspace in Malaysia.

What should you consider before accepting a booking?

Hosts on Chupspace shares their apartment while not losing a place to sleep at night for small meetings, parties and filming purposes. We heard hosts have concerns when being approached by production crew to use the house for shooting.

Here are 7 things that you should take into consideration before accepting a film production booking:

1. Will it disturbs my neighbour?

If you’re a host sharing your home, chances are you’re already disturbing your neighbour. As most people may feel uncomfortable having strangers in their private residence. Our advise here is that informing your neighbour when the shooting will be at and telling them your safety measures to ease them.

Tell the crew beforehand that there will be no loud noises and you reserve the right to ask them leave with no refund if they break the house rules. Most crews will inform you what scene they intend to shoot before booking your space, so you know if your space can cater their needs.

2. How much should I charge?

Depending on the scene, film production usually involve heavy equipment and these equipment consumes quite some electricity. Take into consideration this factor before setting your price for production. Typically, hosts charge around 30% extra when renting to production crew to cover electricity cost.

If you’ve created a listing on Chupspace, you’re sure to know that you can set different prices for “Offsites”, “Events” and “Productions” listings. Setting different price for each while taking into consideration the the different nature for each type of booking is crucial for your hosting success.

3. Potential flooring scratches

Production crews usually brings in heavy equipment, and involve moving of furniture to make your space fit the scene. This may cause scratches on the flooring, or furniture in the process. Ask the crew if they intend to move furniture around so you can make preparation work or at least present when they move the things around.

Take a photo of the space before and after moving the furniture. If you find any scratches and damages after the shoot, present proof to Chupspace and make claims on the damages.

note that no bookings should be taken when claim is in process

4. Insurance for shooting

It involves intensive paperwork if you requests insurance before shooting at your space. It safeguards you from any potential damages occurred to both the crew and you during the shoot. However, it is time-consuming to do it yourself, or by the production crew.

Luckily, marketplaces like Chupspace has built in a system that make safe, and protecting both parties during the booking.

Connecting people to creative spaces

Chupspace helps business owners monetise their spaces by the hour for meetings, events, production and anything else.

5. Getting permit from local community

If the shooting involve public area, like roadside or outside your house compound, you should request the crew to show permit to shoot in those areas. No action needs to be taken if the shooting only involved scenes inside your compound, which is privately owned.

If your space has JMB/MC, you need to seek approval from them before the shoot to avoid disturbance on shooting day.

5. A lot of vehicles and crews

If you’re hosting the shoot in a private residence, you may need to get additional parking for the crew before the shoot. As most crews involved big trucks and around 10-15 people, it may disturb the local community.

Inform the crew and neighbours beforehand, prepare enough of parking for the crew. Tell them how many spots are available and where can / can’t they park in the area.

6. Should I collect security deposit?

Yes! As a lot of times there may be overtime, damages, and other charges that may require additional fees outside the paid amount. Collecting security deposit makes the crew take care of your space more, following rules and leave on time.

Bookings with Chupspace makes it easy to collect security deposit upon booking, and the amount is refunded automatically without needing you to be involved. 

Join the community

Discover, list and book spaces from local hosts

Explore creative spaces

Rent spaces shared by local businesses

Share space and earn

Make money by sharing space by the hour

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Renting your office space by the hour

Current situation

Small businesses suffer from increasing rental cost in Kuala Lumpur with a YoY rental increase of 5%-10%. In tough economic situations, over 90% of small businesses do not last over 2 years.

We’ve seen great cafes, coworking spaces, restaurants, bars and art galleries in urban areas move to a more rural side of the city so it can operate at a lower rent. But does it solve the fact that most businesses suffers from high rental cost?

Coworking trend

A few years back, offices came into the trend of coworking. I assume everyone knows coworking spaces now, as a new one pops out every week across Malaysia. And bigger coworking space operators like WeWork, WORQ, Common Ground, Co3 have significant market shares due to strategic location. It makes sense for people to have their office set up in strategic locations, but my question is, what about the ones that are located in suburb area like Shah Alam?

Coworking space in KLCC area

Rise of spaces

As more people move into coworking spaces, and working as a self-employed individual or operate a small team. Often times, they need to move around the city to acquire customers and host events on a different side of town. Here’s when spaces come in, it lets professional to own (or rent) space in their property for a few hours on a particular day. Typically rented out by coworking spaces, in the area they’re visiting as there are transparent and affordable rates.

It's an event space.. wait what?

As people have an event in a space in coworking spaces, hence the name “event space”. But after 1000+ bookings that happen on Chupspace, we see the use of space a little differently.

If you’re familiar with Airbnb, it is an online platform that allows homeowners to share their empty rooms for travellers to stay. But there’s a certain group where they would rent an Airbnb for social gathering, family reunion, or even filming. So the usage is much wider and bigger as what is intended by the founders.

Source: Shutterstock

Creating an inclusive world

So how can you, as a business owner, combine these two concepts that I’ve just mentioned (Airbnb and event space), to monetise your empty space and idle times in businesses, so that you can offset your rental & operation cost?

Here we compiled a list of possible solutions that you can use to monetise your business space:

2. Rent for small activities

You can share your space with people who are interested in having small events, meetings or a film shoot.

As you rent the space from the landlord for 24 hours and only using it for 10 hours a day. Don’t think of events like music festivals or dance parties, but more like networking events, social gathering or even small birthday parties.

Meetings

Income: RM800/month
Cost: Utilities, staffing, equipment

Challenges: People who look for meeting rooms are always very urgent, and having a staff dedicated to handling inquiries that 80% do not turn into a customer is a headache.

Events

Income: RM6000/month
Cost: Utilities, staffing, equipment

Challenges: Additional staff is required for event logistics, people visiting the office time to time and planning ahead of time.

Production

Income: RM5000/month
Cost: Utilities, staffing, equipment

Challenges: Filming sometimes include heavy machineries that may damage your flooring, and moving of furniture around for the best scene

How to: Friends referral, engage event planners, Chupspace

Chupspace makes it safe and easy to share your space and earn extra income during downtimes of your business.

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How Malaysians can get higher ROI for your real estate in 2020

Malaysians love properties. It is seen as one of the safest investments by Malaysian investors, as the value of properties is always on the rise. Although there is an anticipated bubble of property in 2019, it seems nothing is stopping Malaysians to get a place of their own.

While we see new developments every day for residential properties, it does not seem like a good time for the property market, with a staggering value of RM35.5 billion of vacant properties in Malaysia alone.

Okay, some good news that will lighten you up. We find that there are several ways that you can actually pay your instalments and rentals with a little effort put in. Here we picked 4 of the best earning potential:

1. Airbnb

No doubt that Airbnb has increased popularity among Malaysians. It is one of the best ways anyone can actually make some money online while knowing people from other countries. You can make additional income with your extra bedroom, a whole house & apartment spaces for a night’s stay.

Pros: Great brand & market access
Cons: Lack privacy or need high capex to start

Income potential: RM2000+ per month
Website: https://www.airbnb.com/

2. Luggage Here

A new kid in town for the hottest tourist spot in Malaysia. The aim is to help travellers store their luggage in a spot for a minimal rate per hour at local retail stores. The startup now serves 2 major cities in Malaysia which includes Kuala Lumpur and Penang

Income potential: RM1000+ per month
Website: https://www.luggagehere.co/

3. Chupspace

Another new kid in town that helps professionals find spaces outside business hour for meetings, events, and production.

A major difference between Airbnb and Chupspace is that it gives higher flexibility than Airbnb by hourly sharing. Hosts who wish to earn extra income from their real estate can now do it without losing a place to sleep.

Spaces that can be rented out could be of any kind, which includes a living room, the rooftop of a commercial building, abandoned warehouses, parking lots, museums and more.

Income potential: RM4000+
Website: https://chupspace.com

4. Some good old monthly renting

The most common way for a property to yield is finding tenants to rent your property, and you get a monthly rental to (hopefully) cover a portion of installments. While this seems like a no-brainer, actually it is not. There are scenarios where tenants might not pay your rent and utilities. Here’s some advice from experts on what if your tenant does not pay you.

Income potential: RM2000+

There may be some other ways that your property can earn income for you passively, but do bear in mind that neighbours may be upset from having strangers walking in and out of the premise, especially in residential areas.

A common way for us to prevent that is to inform the neighbours before the date of the event, or simply host with Chupspace, where tenants leave the space after each use and you can control your rental hours until 12am, and not disturb their sleep.

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