Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.

 

 

In this episode we have an amazing opportunity to gain an insight of the mentoring process in action. Kevin takes us through a mentoring session addressing how to start in SA as someone completely new. He uses his own knowledge and experience to provide a clear pathway into SA when renting from letting agents. An unmissable episode which demonstrates clearly the value of a skilled mentor.

KEY TAKEAWAYS

• Renting from letting agents

             Acquiring properties from letting agents is about properties that are good to go, 

             you can be in a position to move clients in very quickly.

• Traditional investment model

Buy a property involving deposit conveyancing, completing the refurbishment process then re financing to buy to let or an HMO. Lots of time and money involved in the traditional model.

• Renting from a letting agent bypasses all that so you could be showing in new guests the same day you get the keys.
• New to SA?

As someone new to SA it’s important to undertake steps to establish credibility and social proof.

Research – talk to hospitals, universities large companies in your area, speak to the person who deals with booking accommodation for visiting guests, employees, clients.

If you can get someone definitely interested you’ve got social proof that there is demand.

Make a website in advance of getting first units showing the type of rooms you are providing.

Try to hook up with other SA providers in the area

Air bnb easiest way to connect – if you’ve got client interest, they could take business until you have units.

• How to open the door with letting agents?

Will the landlord do a company let?

Initial question should always be will the landlord do a company let? – the letting agent will understand this and ask what are you going to use the property for.

Use your social proof when talking to the letting agent to help establish credibility and local knowledge

• Who will be at the property?

Letting agents will often think that they need this information as part of the right to rent checks. SA sits outside of the Housing Act and is a company let so there is no requirement a short-term tenancy agreement (which is for a minimum of 6 months)

• The company let agreement?

It is best to use the letting agents, company let agreement, but it will require some amendments, the most common being it’s not for your employees but your clients.

• Sourcing clients?

Always be honest about sourcing corporate clients through booking.com and Airbnb name drop clients who have already used these sites – its social proof most companies are interested in cutting costs through the use of SA and use booking.com and Air bnb to facilitate this. 

VALUABLE RESOURCES 

https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2

BEST MOMENTS

‘Get trained in SA and then you’ve got knowledge to use advice effectively’

‘Discovery days could be free – message Kevin’

‘Say to them before they raise it with you’

‘When speaking to letting agents name drop companies who you’ve spoken to’

‘If it was that easy everyone would be doing it’

‘Use your instinct depending on who you are speaking to’

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

Facebook – Property soldier

Email – [email protected]