What is serviced accommodation? Can it achieve high passive income? What are the benefits?
Well, in this week’s video, Samuel Leeds and business partner/brother Russell Leeds share some tips and advice, along with discussing how YOU can potentially double, triple or quadruple your return on investment through renting your properties out on serviced accommodation.
So, first things first. What is Serviced Accommodation?
Serviced Accommodation is a fully furnished property available for short-term or long-term stay, providing hotel-like amenities such as house-keeping and night by night payment. Serviced Accommodation allows tenants to INDIVIDUALLY RENT OUT a room night by night, week by week, at a price in which the landlord will charge based on surrounding competition from hotels/Air B’n’B’.
Samuel and Russell provide the ultimate guide to serviced accommodation and we have taken some of the BEST BITS of information for you to read over before you watch the full video!
So let's take a look...
Serviced Accommodation is suitable for following target audience:
Working professionals/business trips/sales
Individuals currently moving in between houses
Builders who have jobs on nearby sites
Seasonal visits to cities
Short stay tenants
Just SOME of the benefits of investing in property through Serviced Accommodation: Generally easier to manage than an HMO (House of multiple occupancy) Continual turnover of people! Take money up front, the customer books themselves a room, no viewings or letting agent needed! Expected occupancy rate as a national average is atleast 83% (dependant on location)
Samuel & Russell’s first steps for someone who wants to invest in Serviced Accommodation
1. Gain knowledge, learn and consume! (Attend the FREE Property Investors Crash Course)
2. DO IT! – Try and test Serviced Accommodation out and the response you get online!
3. Prepare an EXIT strategy!
The 4 most IMPORTANT elements to a SUCCESSFUL running Serviced Accommodation: 1. Keep it REALLY clean! 2. Excellent WIFI range. 3. The NECESSITIES! (Cleaners, booking system, checklists etc) 4. REVIEWS ARE EVERYTHING!
Sound good? We thought so!
Well, to see the FULL discussion and see Samuel & Russell’s guide to Serviced Accommodation – see the clip below!
If you would like more useful tips like this or advice on investing in property, along with creative formulas and strategies – subscribe to Samuel Leeds YouTube Channel https://www.youtube.com/channel/UCS6SES6btXx2tVFzWy4oToA & book on to one of Samuel’s FREE Property Investors Crash Courses https://www.property-investors.co.uk