Landlords, are you looking for new ways to increase your rental yields?
Find out about one of the areas of property that is making money at the moment: the booming serviced apartments market.
Serviced apartments are properties let out on a short-term basis, typically to business visitors, that come with a range of services provided by the landlord, such as laundry or food.
Users of serviced apartments like the flexibility of staying as a tenant in what feels like their own home, plus the significant cost savings that can be made. With savings of up to 25%, staying in a serviced apartment can be a much cheaper option than a hotel.
In this new eBook, professional property investor and author Toby Hone outlines how most buy-to-let landlords can convert their existing properties, especially those landlords who are sitting on new builds, into serviced apartments, with minimal investment.
All the the issues to get through on the way are discussed, with tips on to maximising occupancy rates and minimising costs.
Serviced accommodation represents one of the only property sectors still experiencing rapid growth in the current economic climate. In fact, the current economic climate is creating an ever increasing demand for these types of units and this represents a real opportunity for existing buy-to-let landlords.
The concept of serviced accommodation is largely misunderstood by many landlords, to the extent that most don’t realise that they can achieve a 300% increase in rent and realistically achieve rental yields in excess of 20%, with minimal outlay!
This eBook will explain:
- What the differences are between buy-to-let & serviced accommodation
- Why this accommodation is one of the only forms of property rapidly growing in demand globally
- What types of tenants you can and should target
- What the different types of serviced accommodation are and which one is right for you
- Why falling property prices are an advantage to this investment group
- The key questions to consider before anything else
- How to find out if your proposed serviced accommodation will work in the areas you are looking at
- The main factors and questions to consider when researching and how to get answers to these
- The two biggest obstacles to being able to provide serviced accommodation through your current properties and how to get around these
- What issues you will face when sourcing finance and ways around these issues
- Who you need to contact before providing serviced accommodation
- The five main areas you will need to invest in and what you are likely to spend
- Tips on how to save significant costs when getting your property ready
- What you need to provide in your property
- What your running costs will be and how to significantly reduce these
- How to accurately predict your break even occupancy
- Seven key methods to finding tenants
- Seven sources of tenants
- How to quickly and easily set-up your own functional website
- What to include on your website
- How to get the most out of your website
- Setting up your own easy to use booking system
- What the day-to-day operational issues are and how best to handle these
- What to watch out for when using tenancy agreements for serviced accommodation
- Which expected and optional services to provide
- Seven additional revenue sources
- Which safety and other factors you need to consider
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