The Advantages and Disadvantages of Serviced Lets to Landlords

When considering whether to let your property on a serviced basis there are several advantages and disadvantages that landlords should consider depending on what areas of letting you are happy to allow us to market your property for.

Serviced accommodation, especially short-let style serviced accommodation, is considerably different to traditional longer term lets. When approached correctly with the right property it can lead to huge success but this style or letting can lead to difficulties for landlords who have not been correctly informed or not considered if it suits their personal circumstances.

We hope to be able alleviate any worries that you may have regarding serviced letting and we will certainly advise you if we feel that your property is not suitable.

Advantages:

Higher rental income is potentially achievable
The property is inspected on a regular basis
The property benefits from regular thorough cleaning on departure of clients
Certain types of letting have tax advantages depending on your particular circumstances
Serviced accommodation tenants are less likely to cause damage and wear and tear than longer term non-serviced tenants
Enables the landlord to use the property for their own requirements

Disadvantages:

Higher start up costs as the property needs to be furnshed and equipped to a high standard
Fluctuating cash flor
Occupancy is not guanteed
More labot intensive than traditional long term non-serviced lets

When considering the above advantages and disadvantages it is important to consider if serviced letting suits your personal circumstances firstly financially and secondly by the level of personal involvement you wish to commit to. We offer management schemes through OxfordPropertyCare to suit different levels of landlord involvement with the day to day running of the property.

We also offer longer term serviced or non-serviced furnished rental properties through our division OxfordLonglets and good quality Student accommodation in fully furnished and equipped properties through our student division OxfordStudentlets. If you have a fully furnished property that you are interested in letting on a longer term basis please visit OxfordLonglets or OxfordStudentlets using the links provided.

For more information about our the serviced accommodation market please follow the links below: