Did you know that serviced apartments aren’t just for short-term guests? Many property owners assume that serviced accommodation is only suitable for holidaymakers or business travelers needing a few nights’ stay. However, long-term rentals can be an excellent way to secure consistent income while still enjoying the benefits of higher rental rates compared to standard lets.
Why Consider Long-Term Stays for Your Serviced Apartment?
- Consistent Income
Instead of dealing with fluctuating occupancy rates and frequent bookings, long-term stays provide financial stability and reduce the risk of vacant periods.
- Higher Rental Yields
While traditional buy-to-lets come with fixed rental rates, serviced apartments can command premium pricing due to their flexibility, furnishing, and convenience.
- Appealing to Corporate Clients and Professionals
Many businesses prefer housing their employees in serviced apartments for extended work assignments. Professionals relocating for work also favour these spaces because they are fully furnished and ready to move into, saving them the hassle of setting up a new home.
- Reduced Turnover and Maintenance
Frequent guest turnover means more cleaning, maintenance, and administrative work. With long-term guests, you can reduce wear and tear while also cutting down on management time and costs.
- Flexible Contracts
Unlike traditional tenancy agreements, serviced accommodation allows you to tailor contract terms to fit your needs. You can negotiate stay durations, payment structures, and other conditions that work best for you.
Is Long-Term Serviced Accommodation Right for You?
If you own a serviced apartment, offering long-term stays could be a smart move to enhance your rental strategy. Whether you want to attract corporate clients, relocating families, or professionals in need of temporary housing, this approach can help you maximise your returns while simplifying management. Would you consider offering long-term stays for your serviced apartment? Let us know your thoughts!
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