As a landlord, turning your property into a serviced accommodation can offer a much higher potential income compared to traditional buy-to-let arrangements. However, to succeed in this venture, attention to detail is crucial. Below are 10 key considerations to help landlords ensure their accommodation stands out in the market.
Identifying your target guests is vital for furnishing and staging your property appropriately. Whether it's tourists, business professionals, families, or contractors, tailoring your property to their needs is essential. For instance, if your guests are primarily tourists or business professionals, a more luxurious style may be suitable. Conversely, for families or contractors, providing amenities such as an allocated car park can enhance their experience.
Serviced accommodation is inherently a hospitality business. Beyond the property itself, providing an excellent guest experience sets you apart from competitors. From booking to check-out, ensuring a seamless process and following up with guests afterward can lead to positive reviews and increased business reputation.
In today's digital age, fast and stable Wi-Fi is indispensable. Guests expect to stay connected, so having reliable internet access is ultimately important. It is worth considering to provide a backup data card in case of Wi-Fi issues to ensure uninterrupted connectivity during their stay.
Investing in the presentation of your property can attract more guests. Eye-catching photos are often the first thing potential guests notice when searching for listings. Focus on designing the layout, selecting suitable furniture, and paying attention to detail to create an inviting atmosphere. Hiring a professional photographer can further enhance your property's appeal.
Considering the seasonal nature of bookings in the SA business, it's essential to optimize the pricing. Adjusting rates based on demand, offering discounts during quieter periods, and charging extra for additional guests can maximize profitability. Managing pricing can be very labour-intensive. Consider using an automation software to streamline the process.
