5 Important Things before Investing in Serviced Apartments Posted Date:- 19 Aug 2016 Serviced apartments are increasingly gaining popularity, simply because travelers, business executives and families find them to be more cost-effective and flexible in comparison to a hotel accommodation. This is precisely why a growing number of individuals are now investing in serviced apartments as they provide them with ample opportunities of earning higher rental incomes. However, purchasing a serviced apartment may not be as simple as you assume. Here, discover five important things to note before investing in a serviced apartment.Benefits of Purchasing Serviced ApartmentsInvesting in a serviced apartment is highly beneficial from an owner’s point of view. In the first place, it allows one to earn a fixed rental income. Secondly, a serviced apartment is almost always occupied. Apart from this, owners don’t have to pay any letting fee and enjoy tax benefits.5 Things to Note before InvestingWhen it comes to investing in a serviced apartment, buyers must tread cautiously and take note of the below mentioned important points:1. The Location of the Apartment: Before you invest in a serviced apartment, check whether it is located in a residential area or not. Typically, you shouldn’t be investing in an apartment that is situated in a very crowded area as that will reduce your chances of attracting clients. Besides, the apartment should be located centrally and well connected to the major spots within the city.2. Don’t Forget About Your Budget: Buyers must fix their budget before investing in a serviced apartment. Thus, before you commence your research and start looking for suitable accommodations it is extremely important that you decide upon your budget. A well conducted research can provide you with a good idea about the kind of money you may have to spare for purchasing a serviced apartment.3. Timing is Important too: No matter what you do, make sure that you invest in a serviced apartment at the right time. In case you are planning to earn higher profits, make sure that you invest when the property prices are low or tourist/travel season is round the corner. This will aid you in earning higher rental incomes.4. Add facilities: The whole point of investing in a serviced apartment is to provide a number of amenities and facilities to your guests at highly affordable rates. Hence, if you are planning to purchase a serviced apartment then make sure it is well equipped with a washing machine, kitchen essentials and other facilities. This will allow you to attract clients and also gain repeat business.5. Security: Finally, make sure that the serviced apartment is located at a safe and convenient location. After all, you would never want your clients to reject your apartment only because they feel insecure in it.
