Learn how to create a lodger's agreement, your legal rights, and responsibilities as a landlord in the UK.
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Serviced accommodation is the popular property strategy everyone’s talking about. But what exactly is it and how does it work? Simply put, serviced accommodation is property that offers hotel-like facilities on a short-term basis. Accommodation services can include furniture, housekeeping and kitchen facilities to provide a ‘home away from home’ sentiment. Investors typically let serviced accommodation to tourists or working professionals looking for short-stays on a night-by-night basis. Guests could be contractors who work away Monday-Friday and need somewhere to stay during this period.
Serviced accommodation can be a great investment strategy and has been known to yield great returns for property investors. This is because it allows investors to capitalise on a booming market (tourism) that is already picking up speed post-lockdown. Whether you are buying the property or letting it out on a rent -to-rent basis, serviced accommodation can be very lucrative. Here’s how a previous Assets for Life candidate and mentee, Laura North, has grown her serviced accommodation from the ground up to £96, 000 profit a year:
The simple answer is yes. With winning property strategies such as rent-to-rent, you can benefit from this minimum cash-in and minimum cash out method and effectively launch and grow your own serviced accommodation business without using any of your own money. Unlike other strategies such as buy-to-let, you don’t need high deposits or unending processes and can start in as little as a few weeks.
Getting started couldn’t be easier. Our FREE live online serviced accommodation training is designed to help you earn life-changing income whether you are new to property investment or a seasoned pro. Click the link below to learn more and secure your spot on our next Serviced Accommodation Summit
For more property training events, visit our property events page today!
Learn how to create a lodger's agreement, your legal rights, and responsibilities as a landlord in the UK.
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Discover if short-term rentals are worth it for UK investors. Learn how to invest in STRs and their pros and cons.
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Learn how to buy a business, from research to due diligence, finance and completion. Essential tips for first-time buyers.
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