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Guaranteed Rent Management: A Stress-Free Solution for Serviced Accommodation Owners
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FAQ
Do you offer a guaranteed rent management option for serviced accommodation?
Yes, we do offer a guaranteed rent management option for serviced accommodation. We also have a fully managed option for serviced accommodation as a letting agent.
Do you offer sourcing services?
Yes, we can help you to find you a profitable property for you to buy or rent for SA purposes.
What type of insurance would I need?
There are several insurance companies that offers a specific product for this type of business. We can help you to select the ideal one for your property.
How much do you charge?
We offer different schemes to adapt to each of our clients. From a fix monthly payment to a percentage from the bookings or a fix monthly rent.
What type of guests stay in serviced accommodation?
In addition to tourists and business people, serviced accommodation is a great option for those who are in need of a place to rest between house moves or for those who are in the middle of renovating a house.
Often, companies block book serviced apartments for their employees and let them use them for extended periods of time, such as when staff are working away from their usual base or attending a training program away from their usual base.
There is also the option to negotiate different prices for different period of stay or different times of the year, similar to renting out a property for a holiday.
What type of mortgage do I need for serviced accommodation?
A buy-to-let mortgage is not suitable for funding serviced accommodation. You will need a commercial mortgage if you intend to fund serviced accommodation.
In a buy-to-let mortgage, the property is going to be rented out for at least six months on an annual rental agreement, and ideally for a longer period of time.
In the case of a mortgage that is specifically for serviced accommodation, the maximum amount of time that your property can be let to the same occupier may be limited, so when you are trying to market your property, you should make sure you are aware of any restrictions.
