EXPOSED: Serviced Accommodation The Untold Truth
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- čas přidán 11. 07. 2024
- Is a Serviced Accommodation business like rent to rent really pay you more money than a traditional long term rental buy to let property when all is said and done? The truth from my own experience.
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00:00 The Simple Maths
01:18 What is Serviced Accommodation
02:04 The Regulations
05:03 The Money You Can Make
08:56 Occupancy Rate Impact
12:05 Why These Expenses
17:21 Rent To Rent Model
#servicedaccommodation #airbnbinvesting #shorttermlets
Fantastic video, a lot of people are running to do this short term accommodation stuff , you have just explained the reality of short let , so true , I have six properties, and i am doing 3 on services accommodation and 3 on yearly rental. But I am now making plans to convert them all to yearly rentals. Apart of the void periods and not so fantastic returns. The government is planning a massive change and more regulations for short term rental, that will make them completely unviable.
Thanks. It comes down to the aggravation level.
Thank you for sharing your experiences and such fantastic insights, Stephen. You’re a breath of fresh air.
Very helpful and eye opening. Thanks for sharing
Brilliant video, detailed quality as usual. Thanks Stephen 🙌🏽
Glad you enjoyed it 👍
Amazing!I learned a lot.
Fantastic video
You are a honest
Person
Seriously
Others Just want to Sale a book or a Course on this Strategy
Gr8 vid well done. Are there any specialist home insurers for short-term lets? Would this be a standard or business insurer plz?
Thank you very much for this information.
You are very welcome 😀
Quality video. I’ve been doing this in a small way in Devon for several years -only works in season, so we’ve ended up accommodating referrals from the council. This is extremely lucrative, but brings a whole host of problems.
Thanks for the kind words. At least you’ve found a way to make it work, albeit with some agro. But who said you can make money without problems. 😀
@123prestolee can we chat about what you said? I take it, it's supported accommodation/housing?
Great video, think there may a little bit of static on the audio in parts though, just as a heads up 😊
Yeah the audio was actually pretty dodgy I tried to clean it up as best I could. I had the charger in on the camera I think which caused the issue. I won’t make that mistake again!!
Sound quality is a bit scratchy … but informative
This is true. The ratio of nightly rate to pp is key. Plus direct bookinsg so your margin is not lost.
Major benefit is capital allowances
May I ask which company you used to claim the capital allowances?
What's capital allowance
Wow interesting to hear all the detailed costs like that and also that guests expect a 24 hour on call service. I wouldn't do that, just have an email address and that is all. Is that possible do you think?
Everything’s possible but you’ll get 1 star review if people have an issue and you cannot sort it quickly. 5 stars if you’re on your game.
Thanks Stephen, my impression was that cleaning fees are passed to the tenant when booking via airbnb?
Yes you are right. It could even be an income if you did the cleaning yourself.
thanks
You're welcome!
You forgot to add write-offs on tax
Do you have to pay income tax if you do it through a limited company, or do you just pay corporate tax?
Best talk to your accountant for financial advice. But I can tell you what I do and that is I pay corporation tax on company profits and I also pay income tax on my self assessment tax return.
Can you help me understand? Where is the electricity and water cost?
Utilities
1k profit per year? How do people manage to make money with SA then?
Stephen do you still run SA now in 2024 ?
That's less than btl
This isn't true, you must be able to make more than £900 a year per property, or it wouldn't be so popular.
Where are you based
Is this still true in 2024
Do you think the expenses go down over time or up? Likewise the rent will go up over time. But essentially this is my experience, everyone sees things differently and what seems less attractive to some, is fine for others. Try it and see for yourself unless you feel there is a better way to make more money in a quicker time with less risk and less aggravation.
The costs you stipulated are so high.