Understanding Serviced Accommodation
Serviced accommodation pertains to fully furnished, self-contained accommodations available for rent for either short or long durations. These accommodations may offer services that are similar to those offered by hotels, which may include routine cleaning and the availability of on-site facilities such as pools, fitness centres, or spas.
Serviced apartments are commonly found in residential buildings, and the level of on-site staff may differ. Typically, the operator arranges a meeting with guests when they arrive, offers a safety deposit box, and occasionally allows keyless entry options.
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When leasing a property for serviced accommodation, it’s essential to understand that this differs from “short-term lets” facilitated by legal agreements like an Assured Shorthold Tenancy. The setup for serviced accommodation closely resembles that of a hotel.
Serviced accommodation, like the well-regarded Farnborough service apartment, is commonly classified as an apartment on hotel booking platforms. However, it provides much more than just a conventional living space. This kind of accommodation has become increasingly popular among knowledgeable individuals travelling for business purposes or those who are moving for corporate reasons.
Serviced apartments are gaining popularity as a dependable and cost-effective alternative to hotels. They are ideal for lengthy stays and scenarios where having access to all the comforts of home and immersing oneself in the local culture is preferred.
Serviced accommodation is classified similarly to furnished holiday lets (FHL), which means it is subject to the same planning regulations and tax obligations. In our informative blog post titled “Comparing Holiday Lets and Buy to Let Properties,” we extensively explored the benefits of renting out furnished holiday lets.
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Essential Components of Serviced Accommodations
In order to ensure effective communication with tenants, landlords should offer precise instructions regarding what is included and expected from individuals living on their premises.
- Serviced accommodation provides tenants with a cozy living space that mirrors the comfort of a home. Typically, the rental fee includes all costs associated with taxes and utilities.
- Serviced apartments are gaining popularity among knowledgeable
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To enable remote work, it is crucial to have conveniences like a TV, an internet connection, and a designated area with a desk for work. The expenses should include all essential utilities, such as water and electricity. It is common for a weekly housekeeping service to be included in the package provided by most operators.
What Are The Key Factors That Contribute To The Widespread Appeal of Serviced Apartments?
If you are considering the option of investing in this specific property approach or utilizing your investment as a furnished apartment for rental purposes, it is beneficial for you to comprehend the crucial elements that play a role in the extensive appeal of these types of properties.
Space
As we previously highlighted, serviced accommodations offer a cozy and familiar setting that is distinct from what you would find in a hotel. Furthermore, it provides a considerably larger living area, which is its most notable advantage.
Based on reports, furnished apartments generally provide approximately 30% more living area in comparison to hotels. Guests find it convenient to have their own personal space in which they can work, relax, cook, and rest throughout their stay.
Value
Experienced individuals who frequently travel tend to value the affordability factor when selecting serviced apartments over hotels due to the usual lower prices of around 20% for a similar duration of stay. Furthermore, there are no concealed costs, such as fees for using the minibar or requesting room service, that would be included in the total invoice.