A few decades ago, serviced apartments became popular in the corporate world. When important businessmen or women, or guests of a corporation, had to travel and stay in a certain area for a while, the corporation would arrange for a place to stay – an apartment or flat – which housed all the luxury of a home and added services such as housekeeping to provide the business representative with comfortable housing away from home thanks to the help of a rental property management company. That concept has bloomed; the market is open to the general public and more and more travelers enjoy its benefits. As time has gone on, there have been more and more investors that have opted for some form of apartment investing. But what exactly is a serviced apartment, and how does it differ from other alternatives? Here’s what you can expect with a serviced apartment investment.
Why property is always good
According to sites like property management companies manchester, it’s not for everyone, but for those who fit the picture, property is always a good investment. There are two problems with real estate: the fact that it is liquid, and that it is long-term. In other words, you need to be able to hold on to your property for several decades. However, for those who are willing to do so, property gives above-average rates of return for investments, and is considered very safe.
The benefits of the serviced apartment investment
Aside from a serviced apartment investment being an investment in real estate and property, there are some other noteworthy benefits:
They are only recently becoming very popular, and hence the market is suited for investment. Now is the time: the popularity is increasing and the demand still outweighs the supply by far, as attested to by Servicedletsgroup.com.
They require much lower service costs and managerial experience than a hotel.
They provide a solid, regular income if the serviced apartment is at a good location and offers all the required amenities. Marketing with agencies is easy.
The serviced apartments provide the owner with much higher returns than ordinary buy-to-let, often as high as 300%. Is it illegal to live in a buy to let property? Find out now.
Since there are usually short-term stays, it is easier for the commercial property management or rental property management services to keep control of the property and inspect it on a regular basis for maintenance purposes. Laws are also much more flexible.
Here’s why serviced apartments are a great investment in a nutshell – the bottom line: serviced apartments are ideal because they appeal to a large group of tenants. They benefit people on extended business trips, crew or staff of short to medium-term development projects, relocations, and a wide array of families, students, and professionals who enjoy the feel of a home away from home, and the privacy that hotels often lack. The market is growing and the supply has yet to meet the demand. As long as you get regular terminix oklahoma inspections, a serviced apartment investment is a great vehicle for personal financial growth.
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