Serviced Accommodation – Arguably the fresh cream on the top of the Mocha Frappuccino of the property world.
It’s exciting, it’s the tastiest, and only a few people will say “yes” to its charming ways…
But what is Serviced Accommodation, and why is it so important to YOU, if you are looking to increase your wealth in 2022?
Serviced Accommodation is where you take a fully furnished property and rent it out for short or long term lets.
Serviced Accommodation is great for 2 main clients…
- The staycation people in the country that are opting for the holiday from home option. With, according to Office For National Statistics, over 23 million brits who would normally venture across seas for a break in the sun, staying put due to the dreaded C word, that’s A LOT of people…
- Those who are having to work away from home for long periods of time (builders, Nurses, Corporates, performers, Key workers)
Additionally, many also use Serviced Accommodation as their cash cow. One of the main benefits of Serviced Accommodation is its quick cash, large profits quality, which when executed right, can mean a waterfall of income not just to live off, but to be used to as your investment fund also.
Whichever way you look at it, the Serviced Accommodation world is booming with business and many are lining up to take a piece of the pie, whether that be for work, or pleasure.
So, we wanted to get an opinion from an expert in the world of property and wealth creation, to see if Serviced Accommodation really IS all it’s made out to be?
Enter, Paul Smith.
Owner and Founder of Property Education company Touchstone Education, and owner of a £30 Million Property portfolio spanning across Europe, with 39 years of investing and mentoring experience.
In fact, Paul quite literally wrote the book on Serviced Accommodation which became an Amazon best seller, check it out here.
We asked Paul for the reason he chooses Serviced Accommodation as one of his main strategies to wealth creation, and instead, he gave us 10… Take it away Paul.
- 1. Identical Property Generates 500% More Profit
Take the very same house, maybe that you have owned as a buy to let for years like I had, learn the 7 step DIAMOND system I developed and boom! 5 to 6 times more profit from the same property!
- Tax Breaks.
Use the government rules that most do not know about to pay very little income tax on your profits, all 100% legitimate using long established HMRC rules. Even claim £50,000 per year per person tax free from your “day job”.
- Instant positive cashflow.
Ensure compliance, advertise your property on Booking.com etc for FREE and even if your property is not ready yet see the cash bookings, some of which could be in a year’s time, roll into your bank account!
- Creating Memories.
Beautiful homes where your guests enjoy fabulous trips is a very special feeling.
- Beautiful Holiday Homes For Your Family.
We love being able to make money from our Serviced Accommodation business and then use those same fabulous properties for our own family breaks and reunions.
- No Tenants instead guests, no evictions.
Some tenants can be a nightmare, tenant eviction bans, tenancy agreements in breach and much more: Tenants from Hell cannot be a problem to you as you have no tenants, you have guests! No problems with their rights as tenants as they do not have any!
- Same property suddenly no section 24.
All the anti-landlord tax legislation falls away as it does not apply. Worried about extra tax bills because like most the investment property is in your personal name? Relax, change to SA and enjoy the extra tax benefits.
- Massive opportunity to use unloved buildings that you can get for very affordable prices.
Ex-Care homes, unloved B&B’s often make fabulous SA units, you just have to discover how!
- Massive under-supply in the UK.
Most of the guest accommodation in the UK is hotel rooms. Beautiful homes to use for holiday or work are in very short supply.
- Don’t have to buy the properties: Rent 2 Rent.
Incredibly you do not even have to own the properties. With the correct agreements in place you can rent other people’s property by the month and rent out by the night. I can even show you how to do this needing close to zero cash for deposits, furniture and other set-up costs.
And there you have it…
To learn more about Serviced Accommodation, Paul has in fact created a free 4 part Video series on which showcases a step-by-step break down of the benefits of Sa, where to start, and the possibilities that come with it.
To meet the real-life case studies from across the country using Serviced Accommodation as their wealth creation, click the link to access the 4 Part Video series here.