So, is my property suitable? Letting out your property as serviced accommodation is a great way to make a passive income whilst retaining the flexibility you need. However, it’s important that your property meets the needs of those you are looking to let to. There are a few things to keep in mind:
First and foremost, is your property located in a suitable area? To be considered for serviced accommodation, it should usually be within easy walking distance of town or city ameneties. There are exceptions of course, such as those advertised specifically for rural areas, but it’s important for business clients to be within easy reach of the third party facilities and high-value areas they have come for. City centre apartments are always preferable and command the highest prices.
There is little point in advertising as serviced accommodation if you’re lacking the basics. Cooking and laundry appliances are a must, but it’s important to have more to offer. Think of what you use at home: that’s what you’re looking to have here. Good WiFi and a television are critical, as is an iron and board. Nice-to-haves include a hoover, heater and dehumidifier. Remember, you’re advertising to be better than a hotel room.
You can have all the above and still find your property is unsuitable. Dilapidaed and worn properties in need of some TLC will need to be renevated before letting (Cavendish Peaks can help here!) and all properties need to offer that homely feel. That green 1970s bathrrom suite with the high flush you think will do, because it works, won’t fly. Think modern, comfortable and above all, clean.
If you’re unsure if your property is suitable, get in touch today and we will come and let you know!