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Affordable housing and the hotel industry, a careful explanation by Maxwell Drever

Maxwell Drever

Many national and international agencies got constructed to help countries counter the global health crisis says Maxwell Drever. The COVID-19 pandemic emerged as a social factor resulting in health inequalities and economic hardship. Although ill health is well-established, the fiscal problem is not well analyzed. Hence, various research and investigations are conducted in this field to learn more about how the COVID-19 pandemic impacted the economic health of different countries.

Of all the crises, the short supply of affordable residential units is an issue before the national governments. Affordable and stable housing supports positive health. It limits stressors associated with financial burdens and creates an equitable society. 

Ongoing measures by hotel owners

Sadly, the affordable housing supply is getting worse in the western world. Since the pandemic spread across the globe in March 2020, various households have become cost-burdened. These individuals with an area median income of 60 to 120% could not spend more than 30% of their earnings on housing. 

Hence, Maxwell Drever anticipates that various hotel owners and property investors have reacted to this short supply of affordable housing by transforming their properties into residential units. To support the low-income households, the transfiguration of hotel rooms into the residential unit is a cost-effective and quick solution.  

ü  Governmental regulations. 

As illustrated earlier, there is a direct link between health and affordable housing. Affordable housing benefits mental health and offers the homeowner control over the immediate environment. 

  • If you look at housing policies, you will see that various governments have time and again initiated different housing plans to support low and medium-income households.
  • By supporting the hotel owners and real estate investors through grants and incentives, governments have tried to reduce the short supply of affordable housing.
  • Along with this, various projects are underway to establish a public-private partnership. 

Various faith-based non-governmental agencies provide multiple services to the urban city centers. One of these is affordable housing. Along with this, Maxwell Drever points out that they also play a vital role in healthcare. Hence, hotel owners are trying to collaborate with these agencies to support the low-income seniors and other sections of the population. 

In beautiful and accessible urban city centers, hotels get transform into residential units.

• What is require is a collaboration between the hotel owners and professional experts.

• For introducing on-site services and basic amenities, coordination and planning are necessary. Along with this, hotel owners must pay attention to the maintenance of these units to ensure benefit in the long term.

• Since 2020, various housing policies have been launch with a wellness aim.

• By providing free services to these residents, affordable housing has become a much talked about topic.

More people get access to a shelter, leading a happy life. Along with this, people associate affordable housing with physical and mental well-being. It reduces the family’s stress and anxiety related to the residential unit. Hence, it improves overall health and life quality. It serves the community and creates an egalitarian society.