How to set up a serviced accommodation business | Vlog

What is serviced accommodation and how can you run this property strategy with great results?
Let’s visit this beautiful serviced accommodation property, managed by my good friend and colleague Sam Cooper. We’ll give you a tour of this property, furnished to a high spec, and talk about the ins and outs of this property investing strategy.
Timecodes
0:00 - Intro
0:32 - What is this serviced accommodation strategy, also know as short stay letting strategy
02:11 - Why it is such an appealing strategy
05:43 - What kind of return you can expect when running this strategy
09:19 - What kind of product you need to create for a short stay property
11:56 - What kind of clients you are aiming to attract for your short stay property
14:32 - What changes Covid has brought to this type of property investing strategy
15:28 - What type of a property works best as serviced accommodation
19:00 - How to decide on the location where to run this strategy and how to find properties
28:16 - How to find the guests for this type of property
35:21 - What systems can help you streamline this strategy
39:46 - What are the 3 biggest mistakes people make in this strategy
#ServicedAccommodationBusiness #propertyinvesting #propertystrategy
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Thank you for watching my name is Saj Hussain AKA The Property Joint Venture Expert and Your Partner for Wealth Creation Through Property.

[@trevorstrain7674]

thank you a good video what people can watch at their own pace. not like hard selling seminars with quick buy discounts

[@lakdahulara]

Breath of fresh air in terms of quality content and the way it was presented. Very informative! Thank you so much for sharing! 👍😊

[@TheSajHussain]

Glad you enjoyed it!

[@tisrealflat5955]

Just what ive been looking for, very informative Saj respect brother

[@TheSajHussain]

Awesome! I have newer videos on Serviced Accommodation you can check out

[@sinazeraati554]

Brilliantly presented Saj! Thank you.

[@LP-qx6df]

So many great videos Saj! thank you to both you and Sam for the Quality content on this one!! To say the very least Saj the time and effort you have spent making these videos shows and definitely isn't unnoticed, i appreciate and value your commitment to spreading awareness :D been a pleasure to watch and take notes, a pleasure as always! Kind regards, Luis Prew

[@TheSajHussain]

Thank you Luis, much appreciated.

[@monadacosta-williams7016]

Greetings Saj Thanks very much for this very informative video - great interview and presentation. I have learnt so much.

[@romanjaskowiak295]

It was very informative and professionally done thank you the more we learne the wizer we are become

[@johnporcella2375]

Very useful and informative Thanks!

[@ivagar1982]

Great piece of infos for those looking to start sa

[@emadbarday5474]

Amazing Video Saj . Great tips from both yourself and Sam to get into service’s accommodation. You need to continue this vlog series for sure

[@TheSajHussain]

Thank you Emad. I really appreciate your support.

[@samcooperROYT]

Thanks for watching Emad :)

[@1joelsmus]

Great informative blog!

[@georgebasra]

Great video thanks Saj and Sam some real insight to this strategy

[@TheSajHussain]

Thanks. I'm glad you found it useful Gurdeep.

[@samcooperROYT]

Thanks Gurdeep, good to hear you found it useful

[@joanible260]

Great refresher. I've been running SA nearly three years. Always something to learn.

[@TheSajHussain]

Thank you Joan. You and Simon are doing great things. Let me know if there is anything I can do to help you both.

[@delsingh2577]

Where would your advertise your SAs?

[@adebolasiwoniku2568]

Hello

[@servicedaccommodation]

@@delsingh2577 Airbnb BDC are the 2 big players

[@tonysonam2271]

Thank you Saj. Now I have a better understanding to get into service accommodations. After the lockdown I started a bnb. Getting different guests everyday and yeah it's the cleaning services that got me mad. So to think better it's always good to have guests staying a bit longer. Need to learn more

[@TheSajHussain]

Glad it helped!

[@sny4988]

It was a great video Saj.

[@resh242]

Great video thanks Saj.

[@TheSajHussain]

Glad you liked it Resh.

[@debbyshapiro2125]

Tx a mil Saj. Excellent

[@123sumom]

Grateful 🙏 keep up the good work

[@TheSajHussain]

Thank you 🙌

[@AdaezeChiwokoMarriage4Real]

Thank you! This is great!

[@TheSajHussain]

Glad it was helpful!

[@christopherbarker976]

Hi Saj great video very good tips will look up your other video’s. Regards. Christopher Barker

[@TheSajHussain]

Thank you Christopher, make sure to subscribe and turn on the bell notification so you don't miss any uploads!!

[@servicedaccommodation]

Great video!

[@TheSajHussain]

Really appreciate the support.

[@mandsc4120]

Really Great video, I've been wanting to do this but was put off by letting agent and I see now I don't need to worry about that

[@TheSajHussain]

Get in touch, we can help sajhussain.com/contact-us

[@EmmanuelDanvel]

Have learnt a lot today

[@LA-fr7fx]

Thank you!

[@TheSajHussain]

You're most welcome and I appreciate the comments.

[@tax-rightaccounting]

Great video thanks. Plenty of information in the SA field.

[@TheSajHussain]

Glad it was helpful!

[@damiantomas895]

Thx 😀

[@timlawrence7117]

Good advise

[@TheSajHussain]

Thank you

[@damiantomas895]

Thx😀

[@TheSajHussain]

You're welcome 😊

[@teiubesc1708]

Great content! Thank you so much for this video and others. Very interested in regulation using SA strategy please. 🙏

[@TheSajHussain]

Thank you for the comment. I might cover SA & regulations in the future SajDaily videos

[@FaizanMunawar]

Hi Sam, nice one.plz what’s the best way to analyse location? can we put any semi detached or terraced as well please if it’s near city ?

[@TheSajHussain]

Yes, we do short stays with houses.

[@Nonegiven14582]

Trouble is if renting a flat for serviced accommodation. You have to charge about £100 a night just to cover bulk of your costs. That's before making any money. It simply isn't viable unless you own somewhere outright. It would be near impossible to get 30 bookings a month. The initial investment in furniture alone is massive and hard to get back quickly. And with you not owning the place, that could end up being tricky. You are basically improving something that isn't yours. While paying off someone else's mortgage. And taking all the risk. Imagine even having 16 nights booked each month. Sometimes odd days and weekends. Changing the sheets, cleaning. People losing keys or whole heap of problems? Where would most stand on planning permission? Business rates and their mortgage? Seems too good to be true? Looking at my local Travelodge this evening it's less than £35 tonight. There is a pizza place and couple of other take aways downstairs and you are right in town. Especially as things get tight. Companies won't rent flats for staff. They'll put people in twin rooms on a Monday night till Friday morning

[@Nonegiven14582]

£100 a night on a £750 rental? Probably 15 nights a month? Leaves you £750. Council tax on a band B, £150? Up to £200 in heating/electric/water/tv license. £50 a month minimum for a broadband and TV package. Total of £5000-10000 for furniture/electricals probably split over the 5 years? I am starting to lose net profitability? Then you've got to get someone to clean it? Change sheets? Top up the coffee and shower gel? Then if the door jams or the keys get lost? Or someone steps on a water pipe? Where would insurance and cost of that come in? Just seems a total minefield? What is the cost of even getting customers to stay?

[@SNaqvi512]

Hi, I am interested in learning about it and start working on it but have no idea how it works.

[@andypotts-dtnn3377]

Really useful thanks - are you aware of any companies that will work with you to buy SA properties and manage them in the north?

[@TheSajHussain]

Sorry, not in the north.

[@wardasabeen5246]

Are you aware of any companies who help buying SA properties and manage in manchester area?

[@silkwoodproperties6474]

Hi Great video, finding a good cleaning company and supplier for the sheets, towel etc is worrying me! The cost of this too ! Any advice please?

[@TheSajHussain]

Joanne I would find other local operators in your area and ask who they can recommend that they are working with.

[@samcooperROYT]

Your cleaners are key to a successful operation, ask for recommendations in the local area. It's worth having at least 2 that you can call upon in case one is unable to clean for whatever reason. You can either buy or hire the linen or towels.

[@nadineshah2962]

Hi Saj.. I am interested in starting in the property business.. I'm from Coventry Not sure at the moment whether to just buy a flat etc to rent out or find out more about serviced property.. Need some advice! Thanks for this informative video.. Naheed

[@TheSajHussain]

Naheed contact us here sajhussain.com/contact-us

[@shabanabaig6291]

Thankyou Saj- really informative film How do i get in touch with you for mentoring if you do that?

[@TheSajHussain]

I run a small mentoring programme with 3 levels, depending on your experience. It is not for everybody and is application based. You can get more details and the application form here www.sajhussain.com/let-me-mentor-you/

[@immers2410]

Hi Saj, I’ve already got a number of single lets in Reading and have just got approval for my first serviced building. It’s 9 units in total, a mix of one and 2 beds close to central Reading, RG1 2QP. I have zero experience in this area and would prefer someone to manage the building. Any ideas where to find a suitable management company?

[@TheSajHussain]

Check who else operates in your area on AirBNB and Booking.com

[@lilialungu1191]

Isn't service accommodation limited to how many days you rent it?

[@Andalayae]

What about council tax with serviced accommodation can you explain that further

[@petemartin1891]

Hi Saj which networking events are you currently going too or running? regards Peter

[@TheSajHussain]

Here's where I am updating the details. www.sajhussain.com/networking/

[@imranmiah2172]

Have u got video about how to get the agents on your side please what do I need do for rent to rent

[@TheSajHussain]

This video should help kzbin.info/www/bejne/q2iQp4eDad52qpY

[@ultrimaxcoatingsltd]

Great video but how are you getting permission to do SA in a modern flat when most developers / sales agents ensure there is a clause to ban holiday lettings?

[@TheSajHussain]

Get consent from the developer of the builder or the current Freeholder.

[@ultrimaxcoatingsltd]

@@TheSajHussain any tips on that approach - i've tried many times in mid end new build flat blocks and the answer is always no chance !

[@imranmiah2172]

@@TheSajHussain yeah had the same problem

[@delphiproductionsmusic]

Would you say parking was essential? Ie 4 spaces for four bed sa? Thanks

[@TheSajHussain]

This depends on the type of guest you will be having for instance contractors with vans will require parking.

[@knownsensesocialmedia7618]

Can you name the software you use “channel manager is broader term but must have a specific name”.

[@samcooperROYT]

We use a channel manager called 'SuperControl' but there are lots out there, you can get free trials with most platforms.

[@TheSajHussain]

We use Kigo. www.kigo.net

[@makka_1094]

Do you need to be qualified to rent rooms out? Ie arla property mark??

[@TheSajHussain]

No, but there is lots of regulation to be aware of. This video will help you kzbin.info/www/bejne/h6OzqXeEjbNmaq8

[@ReedProductions2903]

Do people hold SA's / holidays lets in there personal name?

[@delsingh2577]

Where would you advertise your S/As?

[@TheSajHussain]

Hi Del, I would recommend Airbnb and Booking.com

[@leesmith8810]

I want to buy an apartment and set up a SA. Big problem is most lease hold flats state no holiday let’s.

[@TheSajHussain]

Yes, it can be a challenge finding ones where it is not restricted.

[@lindacunningham5802]

!

[@issie874]

where do you get the legal rights on the property? i.e Lease agreement or planning permission and mortgage type

[@TheSajHussain]

The lease agreement or management agreement will determine what rights you have over the property.

[@K4MR4N1UK123]

How much money I need to start off?

[@TheSajHussain]

You can start with very little. However, starting with 10K will make it much easier for you.

[@dwjudd]

Serviced accommodation is basically Air BnB. There is a 90 day rule in Greater London for this type of rental - something to be aware of

[@RSSwestside]

There are ways round this, i will not disclose all of them but many people have serviced accommodations in greater london running all year round, 1 of which is changing property use from c3 to c1, what i will say is look at the way its worded very carefully! If youre smart youll figure it out..

[@user-in5zd1rs8z]

@@RSSwestsideif your changing it to a C1, does this also need a HMO licence if renting to unrelated individuals ?

[@worldpeacemaker2012]

I am interested in buying a Holiday lets property in Cornwall near St.Austell area. Any leads will be appreciated

[@cryptomayoh7461]

How does the council tax work with this serviced accommodation? Who’s names that in

[@TheSajHussain]

There are different ways to set this up. It may even be business rates and not council tax

[@RenzoTravelsTheEarth]

Great video. Love the content. But please learn how to say “Specific” instead of “Pacific” 😂

[@TheSajHussain]

Lol, one of my daily struggles

[@Cookie-xj7ff]

That comment was rude