Serviced Accommodation Is Back!

Serviced Accommodation Is Back!

I am very excited to share this blog because Serviced Accommodation is opening up on the 4th of July. Now, it's happening gradually, but people have started taking reservations and bookings. The government has made it official that it is reopening hotels and restaurants from the 4th of July.

What does that mean?

For starters, my prophecies are beginning to come true! I had said this a month ago that very soon, serviced accommodation is going to open up. Of course, as the rest of the businesses start opening up, serviced accommodation will do so too.

What’s Going To Happen Now?

Here’s what I think:

1. People Will Want To Travel

The government wants people to spend money, and people who have been locked down in their homes are going to want to travel. People would want to visit family and friends, would want to explore places anew!

2. The Demand Of SA Will Increase

During the lockdown, serviced accommodation businesses had shut down, and people had literally switched from SA to a simple buy-to-let. I'd seen so many stories of people losing their SA during the lockdown that now, as the lockdown gets lenient, the demand of SA will increase.

The supply side of SA has definitely decreased because of the lockdown. So, the people who are still in SA these days will get more bookings and will be able to charge as they want.

My advice for people who are in Rent-to-Serviced-Accommodation, if you feel like you have to give back your keys, do it in only the worst scenario; otherwise, hold on!

I have seen people in Airbnb and other SA who have rented out their places to nurses, and healthcare workers, etc. and have done quite well!

For the people who have handed the keys back to their landlords, it is time that you go back to them and say, “Let’s have a new contract now!”

The reason why I am so confident about SA is that you can rent out a property and enlist it on Booking.com or Airbnb and rent it out as a hotel to multiple people. You give a little amount of rent to the landlord and keep the profit to yourself. This is one of the best ways to be financially free.

SA is an excellent strategy to become financially free. It may not be as straight forwards as renting out a property and sticking it up on Airbnb. You have to make sure it has the right management agreement; it has head lease restrictions and the right mortgage restrictions. Moreover, you have to make sure it is in an area where there is demand, where there are jobs and people and shops, etc.

A Final Word

I have a Serviced Accommodation webinar where I'm going to be teaching the in-depth strategy on SA. If you want this to be your year, you can join me in the live webinar for free and learn all the ins and outs of Serviced Accommodation. For registration, log on to https://event.webinarjam.com/register/39/7vqyvf7v