Serviced accommodation fundamentals you probably want to know
Serviced accommodation can be an extremely steep learning curve at first, especially for those who haven’t studied about it or worked with it before. That’s why we’ve prepared a list with questions frequently asked by those new in this industry. These questions will also help you forget about some of the myths in the SA business. Here are the most common questions we get asked:
- How much of my time will it take?
- Will I make less due to cleaning costs?
- What profit should I expect?
- What level of occupancy should I expect?
- Do I need any specialist insurance?
- What property compliance and legislation do I need?
- How much do you charge for management?
- Do I need a specialist mortgage?
- Do holiday let mortgages cost more?
- Will I make less due to VAT on my sales like when booking a hotel?
- What is the difference between guaranteed rent and management only?