Is My Property Suitable for Serviced Accommodation?

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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:

Location

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.

Facilities

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.

Quality

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!

The benefits of serviced accommodation over hotels

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Hotels are good at what they do: short term accommodation at the most basic level for the average traveller. You get a bed, a roof over your head (always a plus in our opinion!) and some very basic ameneties. But that’s about where it ends.

If you want to eat, you have to use a restaurant or buy food ready to eat. If you want to wash your clothes, you have to rely on and usually pay for a shared laundry room… if the hotel even has one! And if you have nothing to do in the evening, you’re limited to whatever entertainment ameneties the hotel has to offer, which are typically few and far between.

Serviced accommodation is a much better option for slightly longer stays or for the more independent traveller. Properties managed by Cavendish Peaks will typically have all the comforts of home: an oven, a fridge, a microwave, washing machine, TV & broadband to name but a few. Why limit yourself to hotel ameneties if you’re in an unfamiliar city?

You’ll get more space for the things that matter to you. Serviced apartments have dedicated dining areas with real kitchen appliances; not only can you host business meetings at your dining table, but you can host a gathering and impress those representatives you’re here to win over! The higher quality and more residential feel will be welcomed by all, and your privacy is much more assured.

And it’s not as expensive as you think. Serviced accommodation is designed for longer stays than a hotel, but that makes it cheaper for its purpose. In fact it’s up to 20% cheaper than a comparable hotel for a similar stay!