What is Service Accommodation?
Serviced accommodation refers to fully furnished properties which are available for a both short or long-term let. This type of accommodation may also offer facilities similar to those offered by hotels. It comes with all the comforts required to feel at home: space to relax, amenities like phone and Wi-Fi and includes utilities and local taxes in the fee. The flexibility, privacy and convenience of serviced apartments mean they suit the needs of a wide assortment of travellers, including professionals on short-term business trips; long-term executive renters; family and group holidays and people relocating during home renovations.
Why Landlord wants us to manage the properties?If you are already a landlord of serviced accommodation or want to move your property to service accommodation, we can help you with full-on management. You may be thinking about the benefits of switching to service accommodation. Below are a few of them-
- Guaranteed Source of Income - One of the biggest worries for landlords is not having a regular source of income: tenants pay their rent late or not at all, rental prices dip, or your property fails to generate rental income as it is currently empty. We effectively become your tenant after agreeing to rent with you, this in return is guaranteeing you a fixed rental income even if the property is empty or the tenant decides to stop paying.
- No management fees – We don’t charge any initial or monthly management fees to maintain your property.
- Regular cleaning - It’s in our best interest to make sure that your property is always in exceptional condition. This is only possible with our team of professional cleaners.
- No cost for furnishing- Furnishing cost has no limits but no need to worry, we will furnish it with our best interior design team.
- Maintenance issues, covered -We cover the maintenance and the result is more money for you and less time out of your social life dealing with problems.
- Minimum wear & tear - We take care of your property for you in such a way that you don’t have to worry about wear and tear.
- Corporate & Professional Tenant - We rent to ‘GUESTS’ which have no tenant rights. All guests will be required to sign our T&C’s in advance of booking.
- Long-term contract - If your property is suitable, we will enter into an agreement for 1-5 years guaranteeing you a fixed rental income every month on the basis that we can rent out your property with a strategy that works for all. this will be agreed together.
What are the downsides of serviced accommodation?
- You might not be able to fill the property every night
- The cost of set up is more, as you will need to furnish it and pay for cleaning
- You need a proper management team to keep your customer satisfaction high.
GOOD NEWS is that you landlords don’t need to worry about any of these downsides. We will take care for you.