In the world of real estate, a fresh approach is gaining ground in serviced accommodation. This strategy breaks from traditional rentals by offering fully furnished apartments for flexible stays, from short weekend getaways to extended relocations. These aren’t just your typical rentals; guests enjoy hotel-like perks such as regular cleaning and fresh linens, making them ideal for tourists, business travelers, and anyone seeking a comfortable, convenient home away from home all on a flexible schedule.
Differences Between Serviced Accommodation and the Hotel
If you’re looking for a place to stay, you have two main options serviced accommodation and hotels. Hotels offer the classic experience – a private room with meals and entertainment often included. But if you crave more space and flexibility, serviced accommodation might be a better fit. Imagine a fully furnished apartment, complete with a kitchen, that you can rent for a short visit or a longer stay. These rentals often come with hotel-like perks such as cleaning and concierge services, at a price that can be more budget-friendly, especially for extended stays.
Why do Visitors Choose Serviced Accommodation over a hotel?
While hotels offer convenience with on-site facilities, the cost can add up quickly, especially for extended stays. Here’s where serviced accommodation shines. These fully furnished apartments or houses provide a more cost-effective option, particularly for longer stays. Plus, you get the privacy and flexibility of a home away from home an entire apartment or house to yourself, not just a single hotel room. This makes serviced accommodation ideal for those seeking more independence and space during their travels.
- Comfort and space
Staying at a serviced accommodation is like staying at home. You can enjoy comforts like a sofa or a place to relax. Unlike hotels where you usually get a place to stay and sleep, serviced accommodation can be more comfortable and spacious.
- One Place
Serviced accommodation offers lots of space, especially for families and children. The rate of serviced accommodation is cheaper than hotels. Vacation rentals are more convenient because the family will along with their children care for them in serviced accommodations.
- Cater to Unique Needs
One of the major advantages of vacation rentals is we can design them according to our needs and wants. We can take the example of business people who are traveling the world for their business that serviced accommodation will be their first choice because it will be more secure and private rather than hotels.
- Cooking Facilities
Serviced accommodation can be more beneficial for couples and traveler who are likely to cook their meal by themselves. Serviced accommodation have cooking facilities as a traveler can cook their meal by themselves. But there are no similar facilities in the hotels. Because of that many travelers are choosing the Serviuced accommodation among traditional hotels.
- Privacy
Travelers are not able to get full privacy in hotels as cleaning and housekeeping services are done regularly in the Hotel but we can get full privacy in the Serviced accommodation. Because the cleaning and housekeeping services are done after the checkout of the guests from serviced apartments.
Possible ways to set your serviced accommodation in the UK
Well, there are multiple ways to set up your serviced accommodation. Many people have different ideas to set up but I will share with you some possible ways to set up your serviced accommodation in the UK.
- Buying the property to run serviced accommodations
There are many possible ways to run a serviced apartment business in the UK. Well, buying property is one of them, but you should be careful while buying. You should consider the location while purchasing the serviced accommodations.
Serviced accommodation offers potential for appreciation and lets you customize it for guests, maximizing returns.
- Rent-to-Rent Serviced Accommodation
Rent-to-Rent serviced accommodation is a business model that involves leasing a property from the owner and then providing the property to visitors at a higher rate. Buying properties with substantial initial capital for the rental business may not be the right choice for everyone, as the payback period for this can be too long.
So, to tackle this and give us the more beneficial choice for the serviced accommodation business, there comes the Rent-to-Rent Serviced Accommodation (R2RSA) business model.
- Taking advantage of the OTA platform
OTA is a website that sells travel-related products, including airline tickets, car rentals, cruises, experiences, accommodations and more. Booking platforms link property owners with travelers seeking short-term rentals like serviced accommodation. Widely recognized sites such as booking.com, Airbnb, and VRBO (Vacation Rentals by Owners) enable property owners to showcase their listings online. Travelers, in turn, benefit from the convenience of quickly booking accommodations through these platforms. Each booking platform has distinct features, fee structures, and target audiences. Therefore, selecting a platform that aligns with your property and business goals is essential for effective online presence and successful bookings.
Serviced accommodation can be a great source of income if you manage it properly. Taxes can be a complication and a hassle on top of the business problems you face nearly every day; let our experts manage tax complexities so you can focus entirely on the serviced accommodation business and make it profitable.
