Money talks in this world, which is why we’ve started by looking at the potential rental yields you could achieve with a serviced apartment.
For example, an apartment that may be worth £1000/pm could be used as a service apartment at £100 per night. Of course, the usual short stay nature of serviced apartments means you need a higher volume of tenants, but you could make more money in four weekends than you would over a month of traditional renting.
One of the interesting advantages of serviced apartments is the role they play in simplifying the choice of where to invest. Serviced apartments are really only successful in areas where there is a strong tourist or business trade. That makes it simple to identify locations where they are likely to be successful and invest accordingly.
Is a Serviced Apartment Right for You?
Serviced apartments come with a host of benefits for investors, but that doesn’t mean they’re right for everyone. Unlike traditional buy-to-let properties, serviced apartments are more time and labour intensive when it comes to managing them.
Therefore, you need to think carefully about whether you’ll be able to manage a serviced apartment on your own, or whether you’ll need to hire in some help.
Ready to Invest?
At Patternbricks Sourcing, we specialise in helping investors find property that’s right for them now and in the future. That’s why we offer a host of investment opportunities, including properties primed to become serviced apartments.
Call us now on 02475070705 or send us an email to firstname.lastname@example.org