There’s a relatively new trend in the industry: serviced flats. The trend is not really that new – it started earlier on, mostly catering to corporate professionals who needed a place to stay for longer times. However, only in recent years has it opened to the general market and more and more people are discovering the benefits of serviced flats. They benefit both the tenants and the investors, after all. But what exactly are serviced flats, and why are they so popular all of a sudden? Here’s all you need to know about serviced flats: the real deal on benefits for tenants and investors.
What are Serviced Flats?
Serviced flats provide a traveler with a place to stay for a short to medium duration. The serviced flat is designed as a home and provides amenities such as a kitchen, TV, Wi-Fi, and so on, whilst still providing basic services such as housekeeping. The traveler can enjoy all the comforts of home while not having to worry about cleaning and other services such as laundry.
The Benefits for Tenants
The major benefits for tenants are:
A great experience without the steep price tag. Staying in a hotel can be very expensive and is never as comfortable as staying in a fully furnished apartment that offers all the comforts of home. The prices per night are far cheaper than other alternatives.
More space. On average, the flat or apartment is twice the size of hotel accommodations
Flexibility. People who rent serviced flats can choose to eat in or eat out, can accommodate visitors, and can host parties or get-togethers.
The Benefits for Investors
This is an excellent investment for several reasons:
There is an increased popularity in the market and this popularity is still on the rise
A solid, regular income
There are two sources of revenue: the collection of rent, and the increase in property value upon sale.
Lower service costs than those of a hotel, and less managerial requirements.
In the long run, real estate provides the best returns for investments.
The rise of the serviced flat has changed the hospitality industry, and it’s very likely to continue to change it as time passes by; more and more people are traveling and more and more tenants want to experience being in a home away from home. At the same time, the market is young and the supply has not been able to meet the demand yet, meaning investors are in a unique position to benefit from the opportunities, as confirmed by serviced flat experts like Servicedletsgroup.com. Serviced flats don’t just provide comfort, luxury, and convenience – they provide a high standard of living and an opportunity to enrich your life. It’s about quality in all respects.