Home staging

Have you noticed that more and more property investors look at Serviced Accommodation as an alternative to single Buy-to-lets?

In the last few months, I have advised many clients on what to do when they want to change their strategy. Some investors got their properties back from tenants who were not paying rent – and SA looks great for them, as there are more means to get rid of non-paying clients (not tenants!) in case things go south.

But turning BTL into short-term rental requires some investments. Of course, if you have a mortgage on the property, the first thing would be to contact the bank and tell them about your plans. But then, the fun starts! (From my point of view at least:) )

If you want to stand out from other properties on Airbnb, make sure you will offer good quality and amazing experience, so you can charge extra and get more bookings!

These are 5 tips on how to achieve a better-performing investment when you consider SA as your strategy.
1. Create a unique theme or style that sets your property apart. People tend to book ‘dreamy places’ when they want to go away. It should be a home away from home, so keep it cozy, not too crazy. But remember: you can go bold with colours, wallpapers, and furniture: to make your property stand out! You don’t want your holiday destination to look like your home – you want something different! You want the EXPERIENCE!
Just a tiny piece of advice here: don’t go with a standard theme if that’s how other properties look… For example, when you want to book an Airbnb by the sea: they all look the same! Coastal theme: pale blue, some shellfish as decor, the same artworks from Dunelm/The Range), etc. What if you’d do something different, less ‘safe’? Just an idea…
2. Invest in high-quality photos that showcase your space in the best light.
Oh, I can’t stress that enough: good photos can bring you many more bookings – and bad photos can make the best property a failed investment! How do you choose your holiday destination? Would you book a dark house, with random photos that were clearly made on someone’s phone (if they cut costs with photos, what else is cheap in this property?) – or would you pay a bit extra and stay in this cozy home, where you can feel the warmth of lights only by looking at the pics?
3. Provide extra amenities or special touches for guests to enjoy.
This is something that YOU need to come up with, as every property is different, you will have clients who want different things – based on location, type of property, or your ideal client type. If you want to host families, believe me – washer/dryer + dishwasher is a must for some of us, mums, looking for the perfect holiday destination. Cot for the baby – you can get a foldable one! Good internet if you want to target professionals looking for a place to reset, but still have an option to work remotely. There are so many things you can do – small gestures – that will make your client think: wow, that’s nice! I’ll come back here next month/year/with friends…
4. Keep your property clean and well-maintained at all times.
One of the best things, when you check in to a Hilton or Mariott Hotel is the smell of fresh sheets when you open the room! When I was a student, I was traveling a lot. And I got used to hostels, and rooms (anyone remember coachsurfing?) – but I wasn’t expecting amazing quality for a small price I paid. I wasn’t bothered by a missing handle, broken lamp, or chipped plates that I experienced in a hostel in Rome. But then, I had an amazing opportunity to stay at a five-star Mariott Hotel. It was amazing. Well, you can tell I was impressed – I still mention that more than 10 years later.
You want to offer Mariott quality, you want to be remembered for the best stay possible.
5. Engage with guests through personalized communication and excellent customer service. This is when you need to make a very important decision: do you want to manage your investment yourself, or do you want to use a professional? I strongly believe that we should focus on what we do best, so if managing bookings, dealing with cleaners, and maintaining the properties is your thing: you can take it on. Personally, I’d hire a company that can do this for me (but maybe because I’m more of a creative mind, and I don’t like admin).

So if you want to jump into the Serviced Accommodation strategy – be prepared to invest in your property. This is why we call it an investment: once you will get it ready, and properly set up, it will bring you income.
If you need any advice, or help with the design/furniture, or recommendation for a great SA management company – let me know! I will be happy to assist you to create a great SA investment!