Therefore we decided to finalise a guaranteed rent deal with him for two years and converted the one bed into two, for the strategy of serviced accommodation. The location was ideal for professionals who needed temporary accommodation with transport links nearby as they were commuting into the city.
The success of this apartment led us to another Serviced Accommodation unit nearby. This was a bigger and higher standard unit that we acquired via an estate agent. He was sceptical at first and didn’t like the idea of a corporate let. However, once he saw the facts and figures presented it was a no brainer for him after that.
We learnt some serious nuggets from the first unit regarding interior design, marketing and client experience and applied that to the second unit for a much more successful result.