As compared to traditional buy to let properties, serviced apartments present a multitude of financial benefits. According to a 2021 report from IBIS World, the Serviced Apartment industry is to expand over the next 5 years as it recovers from covid pandemic. Serviced Apartment provides amenities of a hotel such as housekeeping, laundry, fully furnished rooms, pool, gym, club, safety security and benefits of an apartment like kitchen, lounge, and workspace.
Some of the encouraging reasons why you must invest in Serviced Apartment include:
➤ They are run by an operator like Leela, Grand Hyatt, Marriott International, etc.
➤ Often on Long term lease varying 18-25yrs
➤ Provide Guaranteed Rental income, as the headache of occupancy is with operator
➤ Offer good Rental returns as they operate on revenue sharing model as well
➤ No tension of maintenance or repairs.
➤ More spacious & comfortable alternative to hotel room which increases their occupancy rate