Which Serviced Accommodation size works best 2,3,4 or 5+ bed?
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Video description: As a serviced accommodation expert with 10's of short-stay properties (not just rent-to-rent but also buy-to-let), I've had personal experience and with all sizes of SA units. But in this video I'm sharing with you which size works best.
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Hi Simon thank you for better insight on this topic it’s excites me more to get involved within bigger bedroom properties.
I’m only starting out and for a first property would you recommend going for a 3 bed as a safer option or do u reckon go in straight in with the 4 or 5 would still be fine?
3 bed plus is wicked! Thank you! How are you?! Hit me on insta man
Amazing, live this advice Sir
Nice to get your insights and tips! I live in East London, what's your thoughts on going for 1 Bed Flat/Apartment or Studio Flats for SA in Canary Wharf/Stratford/Wembley area?
Nice very informative
I am considering building a 4 bed bungalow with on Suites with kitchen garden and parking
And a 2 bed bungalow with on Suite garden kitchen and parking
All on the same site and 8:24 gated
In Coventry off M6 M69 M1
Close to all amenities plus train station and 24hrs Tesco
Out of curiosity
What could this be worth per room per night?
Thanks Simon
Build? Do you currently own the site?
I would check comparable online.
@SimonSmithOnline yes just waiting
Waiting
Waiting for planing
Of which I feel positive as disabled access has been made a priority.
Thanks for the rapid reply
I will check the calculator 🫡
I've been a landlord but going into SA😊
Perfect! How you finding it?! How big your portfolio?
Hi Simon, great video. Just a quick one, if you acquired a property with lets say 4 beds, as well as advertising the entire property, could you advertise the individual rooms on the OTA's, take bookings for less bedrooms than the property has and then lock the other bedrooms that they haven't booked for so the guest only has access to the room they've booked + communal areas, or can you only advertise the entire property?
I only do entire properties but it is possible to do by the room! How’s it going?
hi simon, great videos. Quick question,when calculating potential profit, how much in percentage terms do i deduct for OTA fees and management. Also does maintenance get included in the management percentage or do i have to account for another 10% ?
It’s fee is typically 15% but does vary. Management will also vary ! You
Don’t want to manage yourself?
Hi Simon. I'm enjoying your videos.
I've been a landlord for some years now and in the middle of refurbishing one of my properties. SA is something very new to me and is intriguing me quite a lot. I am considering having a go with this large 2 bed flat but I am uncertain if the area it is in will make its money. I know I can achieve £1500 on a straight forward ast, but the temptation of more money and potentially a new business is drawing me in. How would I assess its possible desirability as an SA?
Thanks, Johnny
That’s brill! Book a call and let’s discuss the area and deal potential! :-)
Hi Simon. Great content, thank you! Quick question- When setting up rent 2 SA for a house am I correct in thinking that the free holder either needs to be mortgage free or have a commercial mortgage? As I was of the understanding that SA can’t be done on a buy to let mortgage?
No mortgage, but to let with consent to let or specialist mortgage. How’s it going?
@@SimonSmithOnline brilliant thank you for a prompt response. Would you have any top tips for finding mortgage free, free holds? Also, when do you anticipate UK Government to update everyone on SA restrictions that is anticipated to follow on from the governments review into short term tourist accommodation? Im all good my man just educating myself on this strategy looking to set up an SA Business of my own!
Great info Simon. Quick question. Is there a problem with bigger properties, that you may attract party animals who could trash the place? Also, how could you vet prospective guests to prevent it happening generally?
take a deposit, ask for photo ID, make it clear in your welcome message what the rules and consequences are. CCTV at entrance
Nice video. Are you renting each room out or the whole property?
Run dummy ads great advice
This is epic bro thanks
Thanks
When you say dummy adds you mean upload a property to an OTA to test ? What if you don't have one yet ?
You can turn instant book off and then decline any booking requests
@@TheDunno11 true story!
@TheDunno11 that's interesting so would you have to stage the property and take photos because airbnb will delete the property if you use the photos on the website
You and Samuel Leeds r big rent 2 rent advocates
Hey how’s it going?
Hi Simon. Great Content. As a newbie, would you recommend handing over Rent to SA properties to a SA or Air B&B management company for them to handle absolutely everything? What are the pros and cons? What is your advice? Cheers!
I would guess it would make your margins tighter but depends on your situation and location of deals? Thanks
@@SimonSmithOnline Still working full time at the moment until I'm earning 1k more than me and my partner bring in currently, then quit jobs and work on the business full time to scale fast.
Properties im looking at for SA are in Leeds, I'm currently living in Wakefield so not too far away. Cheers for your help.
did you try this business yet??@@Brs-od8mx