OxfordLonglets

Advantages & 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 the 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 furnished and equipped to a high standard 
  • Fluctuating cash flow
  • Occupancy is not guaranteed
  • More labor 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 short term serviced lets through our division OxfordShortletsand good quality Student accommodation in fully furnished and equipped properties through our student division OxfordStudentlets.