Making Money From Others Properties (Rent to Serviced Accommodation)

[@SafwanChowdhury-ko8zg]

Could you make a vid on where to get and what contracts to use so legals, specific systems to use for example setting up email for them to contact and how to manage the place. Also, how to get landlord to agree to let you use the property for Airbnb

[@RavinderAujla]

Hi Safwan - yes I will include these elements in future videos for sure. Thanks :)

[@olajideolanipekun3377]

Rav your content is great man, i have been watching a number of your videos. Do you think rising rents and energy costs will make this business less profitable for a new joiner?

[@RavinderAujla]

Hi Olajide. I hope you are well. Thanks for the comment. We are basically in the hospitality business - like hotels who are experiencing the same issues (higher energy prices - maybe even more so as for commercial there is no cap) we have to respond accordingly - which in essence means increasing our prices. We also work with insurance and corporates where the nightly rate can be very good and the length of the booking tends to be a lot longer. For example - for our apartments in London we are using portals such as Spotahome and Homelike - these result in longer term booking from students and working professionals looking for short term accommodation in London. I hope that helps! There will always be ups and downs in any business and its about responding accordingly.

[@uchkun100]

Great video 👍👍👍

[@RavinderAujla]

Thank you 👍

[@eamonhannon1103]

Hi Rav . I am trying to decide between HMO and SA . Based on this video you seem to prefer SA especially rent to SA . What advice would you give to me ? Do you provide training on the model you use ?

[@RavinderAujla]

Hi. It all depends on how much time and money you have and where your interest lies. I looked into buying HMOs and it involved tieing up a lot of money so decided to do rent to rent SA as it involved a lot less! But it is a business so it does take time but you can outsource a lot of those tasks - believe it or not i have less issues with properties i manage for SA compared to my own buy to lets where I have tenants! I do offer training if need!

[@younginvestor9657]

How often do the cleaners clean the flats? Thanks for a great video

[@RavinderAujla]

Thanks so much - as often as needed - if it a medium to long term booking it can be every week, every 2 weeks or not at all - it really depends on the needs of the person staying - otherwise it can be just at the end of their stay! I hope that helps :)

[@KM-pq7sr]

Are there planning considerations involved if you want to put a property on air bnb? For example if you rent the flats from landlords and then plan to put them on air bnb don't you first need to get the property classed as C1? I'd be interested to know if you had to do this or not... I'm guessing it would put many landlords off agreeing to a rent to rent if they needed to get planning permission...

[@RavinderAujla]

Airbnb has no planning requirements in place. In London it does say it restricts listings to 90 days. Thats one of the reasons I personally like my mode - medium to long term corporate bookings.

[@mohammadcheema7375]

Thank you for such an excellent video. My concerns with Airbnb are just as you identified here. I hadn’t actually heard of silverdoor and the others. The medium / long term SA strategy might save me the hassle of looking for HMO’s far from my home in London.

[@RavinderAujla]

Glad it was helpful!

[@supervalueonline3830]

Great Video. Are letting agents generally happy to allow you in knowing why you are wanting the property?

[@RavinderAujla]

I usually go into the letting agency and speak direct to the lettings manager. I used to booking viewings initially but then I used to be shown around by a junior member of the team and if I pitched it to them they would have to pitch it to their manager - and quite often there would be miscommunication along the way. So I decided to go in and meet with letting agents to see if they could help - I think its a much better approach.

[@yazankereszturi923]

Thanks for the great video. Who is in charge of maintaining those flats should something go wrong? And does the rent price include regular cleaning or is that extra on top?

[@RavinderAujla]

Hi Yazan. I am responsible for any minor maintenance which I have a handyman who looks after any issues quickly. But if its something like the boiler then its the landlord who is responsbile. I charge a cleaning fee on top. I hope that helps :)

[@drdrdrdrkoalus]

Have you mentioned or did I miss it, what happens if you cannot find anyone for a while? It is quite possible, if your property is not in a quite touristic place, or a big city, also renting a property to let, you need to convince the landlord, normally in most of the tenancy agreements it wouldn't be allowed to do so. If you are gonna change that, probably it will cost you. There are too many risks, also you need to deal with all sorts of people, customer service etc. There are too many unknowns, too risky (another pandemic and you are boom)

[@RavinderAujla]

Hi Dr. This could be said for any business there are always risks and challenges. You have to do your research before you take on apartment and assess demand so that when you decide to take one on you know its in an area where there is demand. We work with letting agents and we let them know upfront what we will be using the property for so we dont have any issues there - not every agent will want to work with you but you will find one that is. All the operation work you can outsource - you can develop systems and processes to address most eventualities. I dont know any other business that you can start with a few thousand founds which will generate that on a monthly basis!

[@SafwanChowdhury-ko8zg]

Hi ravinder want to say a massive thank you on this video great gems. I’m new and just subscribed I’m really trying to get into R2R SA is there any way to contact u for advice and also could you make more vids many thanks.

[@RavinderAujla]

Hi Safwan. I hope you are well. I am in the process of making a course so stay tuned! I will of course try and make more videos on this. Thanks :)