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Landlord guide to serviced apartments

SERVICED MANAGEMENT

With no shortage of prospective tenants, this is an absolutely fantastic time to be a landlord. It’s not just tenants looking for somewhere to live however. With the popularity of serviced apartments increasing, it means that companies and business travellers are also on the lookout for accommodation.

But what exactly are the benefits of becoming a serviced apartment landlord?

GROWING SECTOR

The UK Extended Stays Report by ASAP (http://theasap.org.uk/) has predicted that the serviced apartments industry will have grown by 2,600 units in 2017 – a 13.8% increase on current stock. By the end of 2019, stocks levels are expected to increase by 57.9% – highlighting that there is serious demand for this type of accommodation. Plus, more and more serviced apartments are now available in many different towns and cities where you can enjoy staying in our contemporary serviced apartments.

HIGH DEMAND

Thanks to increasing property prices in both the sales and lettings markets, more and more people are being forced to travel further afield for work. With stays often lasting 30 days or more and with over a third of business travellers saying they’ve taken a partner on a work trip, professionals are looking for accommodation with a homelier feel. Business travel is a commercial necessity and this is unlikely to ever change. The corporate travel market is in fact now worth more than £10 billion every year in the UK alone which means that there’s huge potential for property owners.

BENEFIT FROM LOW RISK AND HIGH RETURN

Just like most landlords would enlist the help of a property management company to assist with their rentals, investors who are keen to go down the serviced apartment route can do the same. By using industry experts, you can ensure higher occupancy rates as well as other benefits including fixed rental income and no management fees.

MAINTENANCE

One of the biggest issues that landlords face is the maintenance of their rental properties. The last thing you want to worry about is looking for a plumber because the boiler is broken or fixing a leaking roof. If you use a property management company, this is usually always taken care of for you. Daily housekeeping ensures that your home stays in good repair and is well looked after, accidental damage is taken care of and if any repairs need to be done, you don’t have to worry about doing them yourself.

HOLIDAYMAKERS USE SERVICED APARTMENTS

It’s not just business travellers who are realising the benefits of serviced apartments, holidaymakers are also starting to favour them over hotels and B&Bs (http://www.travellingking.com/5-reasons-choose-serviced-apartment-hotel/). With their own privacy, more space, cooking facilities and easy access to local amenities and attractions, there will never be a shortage of tourists looking for accommodation

HOLIDAYMAKERS USE SERVICED APARTMENTS

It’s not just business travellers who are realising the benefits of serviced apartments, holidaymakers are also starting to favour them over hotels and B&Bs (http://www.travellingking.com/5-reasons-choose-serviced-apartment-hotel/). With their own privacy, more space, cooking facilities and easy access to local amenities and attractions, there will never be a shortage of tourists looking for accommodation

OTHER REASONS TO USE EASTWOODS SERVICED MANAGEMENT

DUE DILIGENCE

Eastwoods will be responsible for the market and location research for our landlords. We will meet and provide the necessary factors for property investment like socio-economic developments and infrastructure around the area.

CLIENT MONEY PROTECTION

Eastwoods are a regulated company and as such adhere to all regulations set out regarding tenancies in England and Wales. This includes Client Money Protection, Eastwoods are a member of Moneyshield meaning our clients money and investments are protected.

CONTACT OUR SERVICED PROPERTY PROFESSIONALS

CALL US ON: 01252 854423

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