What is Serviced Accommodation?
Serviced Accommodation is not a new concept. It’s been a popular accommodation selection for over a decade, offering several benefits to business and leisure travelers.
Serviced apartments are completely furnished property that provides a variety of home-like amenities and hotel-like services as part of the rental charge. Serviced apartments are intended to function as ‘homes away from home,’ offering greater room and amenities than standard apartment rentals and hotels. Additionally, serviced accommodation is being provided for long- and short-term visits, allowing guests to stay overseas for business without experiencing inconvenience or a lack of services. Capacity is the main focus when it comes to serviced apartments.
Serviced Accommodation has always been a polarising investment strategy, where you can grow a sizable rental income without owning any property. Serviced accommodation is commonly known as ‘short term let,’ which can be established through various legal agreements.
While serviced accommodation has historically been popular with business travelers and corporate relocations, it has become equally popular with tourists and is also available for family lets.
Serviced apartments are increasingly seen as a cost-effective and reputable alternative to hotels. They’re ideal for extended visits and situations where it’s more suitable to have all the amenities of home and live more like a local.
What is Rent to Serviced Accommodation?
Rent to serviced accommodation is a business model in which you secure a property by offering guaranteed rent to a landlord for a fixed period of time and using it as serviced accommodation.
Rent to serviced accommodation provides guests with spacious living areas, fully equipped kitchens, and king-size beds. In addition, the majority of serviced apartments are exquisitely designed with upholstered furniture and exude a pleasant yet elegant atmosphere throughout.
Why choose Rent to Serviced Accommodation?
“a relaxing space, amenities like Wi-Fi & phone and covers local taxes and utilities within the fee.”
A ‘rent to serviced apartment’, also referred to as R2SA, is furnished accommodation that is available for a short- or long-term stay. It offers all the comforts needed to feel at home: a relaxing space, amenities like Wi-Fi & phone and covers local taxes and utilities within the fee. And as the name suggests, they’re also serviced.
Services in Rent to Serviced Accommodation that are typically provided include 24-hour customer service, housekeeping, and enhanced security. Some serviced apartments additionally provide on-site personnel, a 24-hour front desk, and other upscale visitor services.
Serviced apartments are professionally managed and are rented all year around.
Why should you go for Rent to Serviced Accommodation or R2SA? There are numerous advantages to choosing serviced apartments over other types of accommodations:
- Space: Typically, serviced apartments provide ample room for guests – including areas for working, cooking, relaxing, and sleeping.
- Amenities: Rent to Serviced Accommodation provides a ‘home away from home’ experience with a private kitchen and, in most cases, laundry facilities. Guests will typically be provided with an appropriate work environment, such as a table or desk, rather than being forced to use a laptop in bed.
- Flexibility: Serviced apartments provide guests with freedom and flexibility — guests are free to come and go as they choose and have complete control over their schedule.
- Staffed support: Guests staying in serviced apartments will enjoy hotel-style cleaning, maintenance, and staffed service. Operators frequently provide additional services such as bespoke welcome packages upon a guest’s arrival; shopping services where clients may pre-select items for delivery; ironing and dry-cleaning services; meet and greets; and chauffeur-driven appearances.
- Cost-effective: Private rental accommodation is more cost-effective than alternative forms of lodging, particularly for extended visits.
- Security: R2SA provides a sense of security and social isolation because they are self-contained spaces with fewer communal areas, and many allow contact-free check-ins.
- Interior design: Most R2SA operators take pleasure in their attention to interior design, ensuring that visitors have access to luxury designs during their stay.
- Value: Guests often recognize the value in serviced apartments, as rates are typically around 20% less than a hotel stay. Moreover, there are rarely any hidden expenses associated with the minibar or room service added to the bill after a visit. Another significant benefit is that after 28 nights, VAT is reduced, allowing people staying for an extended period to make the most of the available savings.
As the industry expands, you can easily find a suitable property for rent to serviced accommodation for your stay as per your requirements. At Star Sterling, the options range from a small studio unit to a luxury 4-bedroom apartment. Visit Progressive Community for more information about serviced accommodation business.
Star Sterling specializes in providing secure, low investment, and high cash flowing Rent to Serviced Accommodation investment opportunities to hands-off investors. We provide fully managed end-to-end services that include sourcing a suitable property, staging the property to stand out, marketing it on more than 50 online platforms to attract guests, and providing 24×7 management.
We have sourced over 60 properties during the last six months. Our fully-managed Rent to Serviced Accommodation deals start at £5,000 and generate over 100% return on investment within 36 months of the initial contract. We pride ourselves on conducting every deal with due diligence and providing detailed financial analysis to our investors with complete transparency. So, contact us now to kickstart your investment journey!