Mark SimpsonHelping short-term rental hosts get the tools, tactics and training to grow direct bookings with confidence

Unleashing the Booming Trend of Service Accommodation: Explore Diverse Business Opportunities

18 Oct 2023 · 1 min

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A recorded conversation (Oct 18, 2023) between Mark Simpson and another speaker about the rapidly growing service-accommodation sector. The speakers discuss why landlords are shifting from long-term tenancies to short-stay service accommodation to maximise income and introduce business types entering the market (owner-operators who convert their own properties and management companies that operate properties for landlords).

Chapters

Also got people now that can start businesses as management companies and then they can look after property. So they would approach a landlord or an estate agent and just say, I want to potentially take on property that is for rent and turn it into a service accommodation and have a short stay. People come in like business people, et cetera. Is that how it is basically working? Or explain to me the different types of, of service accommodation. Explain the different types of businesses that are coming into this, which can sort of maybe explain why is booming so much.
Sure. I guess at the simplest level, you've got somebody who owns a property that they want to look at maximizing their income out of. And as you say, rather than doing six month plus normal tenancies, they say, look, I think there's a market here for doing short stays. So that's the sort of owner operator.