Rent To Serviced Accommodation Deals
What is Rent-To-Rent?
1
Agreement with Landlord
The company or individual seeking rent-to-rent agrees to a formal tenancy agreement with the property owner. Both parties negotiate and determine the terms of the agreement, which include the rental amount, duration, responsibilities, and any specific conditions.
2
Company Let
After the property is leased, the company takes on the role of the landlord and assumes the duty of overseeing and upkeeping the property. Consequently, they offer short-term rentals to individuals such as contractors, doctors, nurses, and business people who require temporary accommodation.
3
Serviced Accommodation
The company charges a nightly rate to the guest maximising the monthly profit and continues to pay the negotiated monthly rent on the property to the landlord. The property is run as a successful serviced accommodation. The profit for the company is the amount obtained from the rent collected minus the payment made to the property owner.
4
Property Management
The company has the responsibility of overseeing the property, which includes addressing tenant enquiries, maintaining and repairing the property, as well as ensuring compliance with legal and safety regulations. Nevertheless, the option to employ a property management company is always available.
5
Legals
Having a good understanding of the legal considerations concerning rent-to-rent agreements is crucial. The property must ensure this is followed to legally lease the property for short-term stays, while also adhering to all applicable legislations.
6
Considerations
Having a rent-to-rent property can be incredibly rewarding when using the serviced accommodation strategy. It can provide a regular income, boast lucrative profits and allow the opportunity to leverage multiple properties as the up-front investment is generally low. Bear in mind you may have void periods and maintenance and management costs to cover also.
Our Bespoke Sourcing Service
Our bespoke sourcing service is designed to meet your unique requirements. With our expertise and personalised approach, we are committed to finding you the perfect property that not only meets your needs but exceeds your expectations. Contact us today for a free in depth consultation.
What we look for in an SA Deal
Tourist Hotspots
Aesthetic Design
Ease of Parking
Tourist attractions provide an provide an opportunity for exploration and discovery. Guests who are visiting a new place often want to immerse themselves in the local culture, history, and beauty. Tourist attractions allow them to experience the uniqueness and charm of a destination firsthand.
Colour schemes, quality of furniture and overall design of an SA property is fundamental because it creates a welcoming, functional, and visually appealing space. The design enhances the overall experience, providing comfort, practicality, attention to detail, and a sense of place. Guests are more likely to leave positive reviews, and occupancy rates are likely to be higher increasing profit margins.
Having dedicated and secure parking spaces available at or near the accommodation also adds a sense of convenience and safety for guests. They can rest assured that their vehicle is in a secure location, reducing any worries about theft or damage. Availability of parking spaces also saves guests from the hassle of searching for street parking or paying for expensive public parking.
Location Is Key
Home Security
Area Trends & Growth
Evaluate the location's proximity to amenities such as restaurants, shops, public transportation, and popular tourist destinations. A convenient location will attract more guests and help ensure a steady stream of bookings. Consider the future development plans for the area. Areas experiencing revitalisation or infrastructure improvements may attract more tourists and business travellers, increasing the demand for serviced accommodations.
Evaluate the location's proximity to amenities such as restaurants, shops, public transportation, and popular tourist destinations. A convenient location will attract more guests and help ensure a steady stream of bookings. Consider the future development plans for the area. Areas experiencing revitalisation or infrastructure improvements may attract more tourists and business travellers, increasing the demand for serviced accommodations.
Evaluate the location's proximity to amenities such as restaurants, shops, public transportation, and popular tourist destinations. A convenient location will attract more guests and help ensure a steady stream of bookings. Consider the future development plans for the area. Areas experiencing revitalisation or infrastructure improvements may attract more tourists and business travellers, increasing the demand for serviced accommodations.