Recently, I had to go to Liverpool to get a new passport because I lost my old one. Liverpool is one of the places you can get a fast track replacement passport from. I asked if any of my students had good property deals that I could tour while I was there. Adam Hindley had a rent-to-rent deal right next to the passport office! He is making £1,200 a month from this small apartment just by controlling the property.
Watch the full video (above) to find out all about Adam’s rent-to-rent deals. I highly recommend watching it until the end, as it contains invaluable information for anyone looking to get started in the world of rent-to-rent or serviced accommodation. In this article, I will give you 3 things you can learn from Adam’s property experience.
1. If you can’t get a key safe, use a KeyNest
When you are running a serviced accommodation property, the last thing you want to be doing is meeting guests to hand over keys. Not only is this an inefficient use of your time, but it makes the process harder for your guests as well. Normally the best thing to do is to have a key safe. A key safe is a small safe that you can attach to the property. Guests can then get the keys using a code.
In some cases, however, you are not allowed to attach a key safe to the property. In these cases, you can use a service like KeyNest that allows guests to pick up the keys from a local shop. This means that guests can arrive at anytime during the shop's opening hours and collect the keys.
2. Create a video guide
When a guest arrives, they are likely to have a lot of questions. They may not be able to find the property; they may not know where to pick up the keys; or they may not know which floor the apartment is on. You will need to be available to answer these questions or be willing to pay someone to do this for you.
One way to cut down on these questions is to produce a video guide for guests. Adam has created a video guide showing how to pick up the keys at the KeyNest and how to get to the apartment. This has helped limit the amount of questions guests have when arriving at the property. The more information you can give your guests, the better their stay will be and the less time you will need to spend on communication.
3. Speak to hotel guests
When researching an area to see if it will make a good location for serviced accommodation, it is a good idea to speak to local hotels and see if they are busy on a regular basis. If hotels are normally fully booked, chances are the area will be excellent for serviced accommodation as well!
Adam spoke to guests staying at local hotels to see why they were staying in the area. This helped him find out about his target market and to create advertising copy to suit them. The more you know about your customers, the better you can serve them!
If you want to get started in rent-to-rent, I am running a training event for just £1! You can book a ticket here.
