In recent years, the popularity of serviced accommodation has surged due to its convenience and affordability. However, as the number of serviced accommodation providers has grown, so has the competition, making it harder for landlords to manage their properties themselves. This is where a serviced accommodation management company comes in, providing numerous benefits to landlords who choose to use their services. In this blog, we’ll explore the benefits of using a serviced accommodation management company versus doing it yourself.
1. Providing Landlords with More Time
Firstly, one of the main benefits of using a serviced accommodation management company is that it can save landlords a considerable amount of time. Managing a property, especially one that is being rented out to guests on a short-term basis, can be a time-consuming process. A management company can take care of all aspects of the rental process, including booking guests, handling check-ins and check-outs, and dealing with any issues that may arise during the stay. This allows landlords to focus on other aspects of their business or personal life, without worrying about the day-to-day management of their property.
2. Securing more Profits for Landlords
Secondly, it can lead to increased occupancy rates and higher profits. These companies typically have access to a large customer base and can market properties more effectively than individual landlords. This can result in more bookings, leading to higher occupancy rates and increased profits. Additionally, a management company can help landlords set competitive prices for their properties, ensuring that they are not priced out of the market or underselling their property.
3. Ensuring Top Quality for the Properties
Thirdly, a serviced accommodation management company can provide professional cleaning and maintenance services, ensuring that the property is always in top condition. This is especially important in the competitive serviced accommodation market, where guests expect high standards of cleanliness and comfort. By using a management company, landlords can ensure that their property is always well-maintained and that any issues are promptly addressed, leading to higher guest satisfaction and better reviews.
4. Guiding Landlords with Expert Advice and Support
Fourthly, it can provide landlords with access to expert advice and support. These companies typically have a wealth of experience in the industry and can provide guidance on a range of issues, from property management to marketing and pricing strategies. This can be particularly useful for landlords who are new to the serviced accommodation market, as they may not have the expertise or experience to manage their properties effectively.
5. Providing Landlords with Peace-of-mind
Fifthly, a serviced accommodation management company can provide landlords with peace of mind, knowing that their property is being managed by a professional team. This can be especially important for landlords who live far away from their properties, as they may not be able to manage them effectively themselves. By using a management company, landlords can be confident that their property is in safe hands, and that any issues will be dealt with promptly and professionally.
In summary, using a serviced accommodation management company can provide numerous benefits to landlords, including time-saving, increased occupancy rates and profits, professional cleaning and maintenance services, expert advice and support, and peace of mind. While it may be tempting to manage a property yourself, the benefits of using a management company are clear, especially in the competitive serviced accommodation market. So, if you’re a landlord looking to maximise the potential of your property, consider using a serviced accommodation management company – it may just be the best decision you ever make.
Luke Stays have become one of the leading Serviced Accommodation Property Managers in the North East of England since 2019 and continue to help landlords looking to maximise their profitability whilst remaining hands off.
Find out more on our Partners Portal for Serviced Accommodation Management and how do we partner with our landlords and investors.