The Serviced Accommodation Property Podcast

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.

Welcome back to The Serviced Accommodation Podcast. In this special episode, Kevin interviews Co-founder of Progressive Property, best-selling author and property investing expert, Mark Homer. Kevin and Mark discuss the advantages of serviced accommodation and why it’s one of the most popular property strategies right now! Plus hear their take on Brexit and personal development.

KEY TAKEAWAYS

What changes to serviced accommodation (SA) regulations will we see in the future? There have been several recent changes to regulations of the HMO and SA property sector and there is likely to be more. After new innovations occur, we can expect a time lag in the introduction of associated regulations, but by five years’ time, there will be effective implementation of these new regulations. It’s therefore worth ensuring that you are in line with these regulations like fire safety, and room sizes.

How will Brexit affect trends with serviced accommodation? No one knows exactly what is going to happen with Brexit but the uncertainty has already affected the market. When there is certainty again, ideally when Britain leaves in March, things should look more positive and there might be a sudden rush to invest. Brexit is important for the property sector, but it’s more important to the manufacturing and direct trading industries.

Saturation of the serviced accommodation market? Someone, somewhere, always thinks that the market has become saturated. There might be quieter times in the summer but if your unit is better than the competition then the market takes care of itself. Even simple things like a lick of paint or lowering the rent can be effective methods to fill units in a quieter season.

How do I scale up my property business? Focusing on one geographic area can have real positives for growth. With that kind of focus, you’re able to get to know your local agents and landlords better, and your staff don’t have to travel as far between properties. This is much more effective than a more scattergun approach, leaving you to knowing a lot less than your competition.

How best to work with high net individuals. Often these individuals don’t want to and don’t have the local knowledge to run these businesses operationally. Doing stage work, improving your online presence, attending networking and auctions can be really effective ways of increasing your profile. Once you’ve done these kind of things over a couple of years high-net-worth individuals tend to find you.

Next best thing? VR (Virtual reality) is probably the next growth area especially helping consumers choose which unit to rent. In addition, Blockchain has some interesting applications to automating arduous processes, such as making the land registry process to make it quicker and easier.   

Personal Development. Both informal and formal mentoring can be incredibly effective personal development tools. Finding your peer group, other people doing similar things to you, can be a great way to share ideas and learn from each other.

BEST MOMENTS

‘Brexit is important but maybe more important for manufacturing or people directly trading’

‘You can save a lot more time and make a lot more money when you focus on one area’

‘What does your SA look like? How good is it? Whats its location? Matters more than Brexit.’

‘Take out all those non-incoming generation parts of your day.’

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 my 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]

ABOUT THE GUEST

Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, as well as co-authoring the UK’s best selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.

Facebook – Property soldier

CONTACT METHOD

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

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.

Welcome back to The Serviced Accommodation Podcast. Today, Kevin shares with you a Live recording of independent rating surveyor, Mike Powell’s presentation on how rates affect and impact on Serviced Accommodation. Hear the expert knowledge on rateable values and how you can achieve the highest rates of relief when starting, growing and scaling your Serviced Accommodation business. Mike uses examples to help explain the pros, cons and intricacies of the VOA (Valuation Office Agency), local councils and how you can calculate your liability when running your business.

Stay tuned until the end to hear the Q&A session with questions from Serviced Accommodation investors from around the UK.

KEY TAKEAWAYS

• The VOA (Valuation Office Agency) is an agency of HMRC and they are responsible for setting council tax and business rates. They’ve got a statutory duty to maintain a fair rating list. Business rates produce £26m per annum for the treasury.
• You have a rateable value for any given property, no matter what the type of property. But this is not what you pay. You pay according to the uniform business rate (UBR) which is set every year and is linked to inflation and for small businesses, this year it’s 48p in the pound. For larger businesses, it’s £49.3 in the pound.  
• Serviced Accommodation is a commercial use and therefore should be officially business rated and the rating is down to how a property is being used. For example, your property being used commercially as a serviced accommodation unit.  Some local authorities are trawling through sites like booking.com and Airbnb and looking to see how properties are being used and reporting them to the VOA.
• The VOA is set up in regions and they all value differently, however, most will consider it self-contained accommodation. Putting a price on each individual bed space, so if you have a two bedroomed, doubled bed apartment, that’s classed as four-bed space and if it’s £1000 per bed space that has a rating value of £4000.  
• To calculate your business rates bill, you have your rateable value and you times that by the uniform business rate, so £48p in the pound for small businesses.

BEST MOMENTS

“I’ve seen the price of single bed space range from £360 to £6000 in some areas of London, so there’s massive variation.”

“The rating list is revalued every five years with the next one scheduled for 2020.”

“I don’t think that the VOA is valuing Serviced Accommodation units correctly.”

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 my 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]

ABOUT THE GUEST

Mike Powell has property in his blood having been surrounded by property advice since birth with his parents in estate agency, commercial property advice and particularly business rating as he grew up. He is a self-confessed petrol head with a growing interest in modern and future Classics. Mike started his career as a commercial property agent in south Yorkshire selling and letting local and regional retail, industrial and office buildings and brokering investment and development deals. When the market crashed in 2008 Mike got involved in the business rating side of the business and found his niche and has worked on thousands of properties and rating assessments nationally since.

CONTACT METHOD

You can contact Mike Powell on:

Facebook – Michael Powell

Email – [email protected]

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 today’s episode of The Serviced Accommodation Podcast, Kevin covers Section 24, the anti-landlord tax. Kevin goes on to share real-life examples of how Section 24 can affect you, your property portfolio and your mortgage interest rate relief. Landlords have effectively had the rug pulled from beneath them and will no longer be able to offset their mortgage interest payment against their rental income, before calculating the tax due.

But here’s the good news, Section 24 does not affect Serviced Accommodation and there’s still time to convert your buy-to-lets into Serviced Accommodation units and continue to offset your finance against your income. Tune in today to hear how.

Look out for another episode of the Serviced Accommodation Podcast where Kevin will be discussing capital allowances and how it affects property investors.

Find your host Kevin on Facebook ‘Property Soldier’ to suggest content for future episodes of The Service Accommodation Podcast.

The mortgage interest rate relief reduction. The amount of mortgage interest an HMO or buy-to-let landlord an investor is able to offset against their rent is being reduced.

KEY TAKEAWAYS

• Section 24 removes landlords' ability to deduct the cost of their mortgage interest from their rental income when they calculate a profit on which to pay tax.
  
  

BEST MOMENTS

“There’s no perfect solution to avoiding Section 24.”

“Some landlords are selling up their portfolio or simply increase their rents to absorb the additional costs.”

“The percentage of landlords affected will increase year on year and we will see an increasing impact of Section 24.”

“Section 24 is being phased in over four years. It started in 2016 and will be fully implemented by 2021”

VALUABLE RESOURCES

Mortgage Interest Relief Reduction Calculator

Buy-to-let calculator (DailyTelegraph)

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]

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.

Welcome to another episode of The Serviced Accommodation Property Podcast! In today’s episode, Kevin talks to Michael Primrose, a Commercial Finance Broker and Director/Founder of TPEFinance.

This is perfect for newbies out there who wants to get funding, raise finances to get their first serviced accommodation up and running in no time. Michael discusses the key things lenders are keen about, the bridge to let products, the development finances, choosing SA managing agents, how to get rent to SA funding and many more. So, make sure to click that play button and put those ear pods on to learn from the finance expert!

KEY TAKEAWAYS

• No experience of managing or owning SA.
• Get the best SA business that you can and outsource. Get it systemized to increase your profits.
• Lenders look at that. Bad reviews stop the lenders to lend you what you need.

• It’s a long-term bridging lane. 6-7% annum. What you pay per month is only 4-5%.
• For first-time landlords.
• There is no exit fee. They’re not paying hefty amounts. Arrangement fee is 2-2.5%.
• A great product and it fits a niche.

• People doing refurbs, conversions and even building SAs.
• Normally, for a £400,000, your deposit will be £100,000. If you use development finance which covers 80-90% of your total cost (purchase and refurb), that £100,000 could cover a potential million end value.

• Partner with someone who is more experienced than you.
• If you’ve got no experience in SA and given it to someone who’s reputable, lenders can take a lot them, track record, and reviews.

• Equity crowd-funding. Set up a Special Purpose Vehicle (SPV). Sell shares in that SPV.
• There are a lot of crowd-funding platforms you could use online.

BEST MOMENTS

• “What comes down to when they’re looking at the property is the fact that you can’t uplift the value of that property because it’s a flat, house or whatever. It’s the business that’s worth the money.”
• “If they look for conversion or new builds, there’s actually more profit to make.”

VALUABLE RESOURCES

• Progressive Property
• TPEFinance

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent the majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

ABOUT THE GUEST

Michael Primrose is the Director and Founder of TPEFinance. Its purpose is to help developers and investors raise finance for their projects. Their experts help you from the very start through the end of the project and promise the biggest profit from a very little amount that you’ve put in the deal.

CONTACT METHOD

Michael Primrose

• Michael’s Facebook

Kevin Poneskis

• Kevin’s Facebook

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.

Welcome to another episode of The Serviced Accommodation Property Podcast! If you’re still deciding whether your humble abode should be turned into something that holiday-makers could use for short or long lets, then make sure to tune in. Let Kevin help you decide! In today’s episode, he discusses how to determine the appropriate use class of your SA, when to apply for ‘material change of use’, how to source more than 90-day bookings, and so much more!

KEY TAKEAWAYS

• C3 is the appropriate use class for serviced accommodations; unless you’re letting out SA by the room with a shared facility, then that would be C1.

• Are you significantly changing the parking since you turned the property into an SA?
• Patterns of arrival and departure. What time do your customers arrive?
• Numbers of People. Don’t overcrowd.
• The frequency of party-type activity. You can be taking deposits or limit stays.
• Reuse and recycling. Make sure your cleaners know what to do with the rubbish.

BEST MOMENTS

• “You can have short stays of up to 90 days in London without the requirement to change the planning.”
• “Longer stays mean more money, less cleaning, less laundry, etc."
• “Get around the 90-day [rule]. How do you get around the 90-day rule? You don’ t need to go around the 90-day rule.”

VALUABLE RESOURCES

• Airbnb

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent the majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

CONTACT METHOD

• Kevin’s Facebook

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.

Welcome to the first ever episode of the Serviced Accommodation Property Podcast, a podcast for people who wants to explore serviced accommodation property investing and who wants to learn how to make a profitable and sustainable business!

Every week, we will be joined by our host, the Property Soldier himself, Kevin Poneskis. So, in today’s episode, we won’t beat around the bush and get to the point head-on. Kevin answers questions like: What is a serviced accommodation? Why people choose this nowadays? Why should you jump on this trend? And so much more. He even gave a sneak peak on what gems you could get about SAs on the next episodes of the podcast. So, time to listen, meet Kevin and start your journey to SA investing!

KEY TAKEAWAYS

• E-commerce
• Mobile Lifestyle
• High-speed Internet and the World Wide Web
• Globally-recognized booking portals

• "According to Booking.com surveyed their own customers, 33% of their customers prefer to stay in a holiday home or apartment rather than a hotel. So, that's serviced accommodation."
• Airbnb which was founded in 2008 has earned 3.5 Billion USD in revenue, doubling year on year at the moment.
• com which was founded in 1996 is doing 1.5 Million room night reservations per day.
• com’s home section – not the hotel section – is growing double digit year on year.

• Identifying your SA goldmine area, due diligence, choosing the right property for your area, acquiring property with none of your own money
• Controlling rather than owning properties, understanding the tax implications (VAT, section 24, cap allowances, business rates,)
• Setting your business up with your strategy in mind with the right company structure to maximize profits
• Understanding how to operate SA units, day-to-day running of your business.
• Mastering customer service and guest satisfaction
• And many more!

• He is the Lead Trainer on Serviced Accommodation of Progressive Property.
• 24 years in the army, mostly in the commando unit. He reached the rank of regimental sergeant major.
• Whilst in the army, he was already looking at property investing.
• Invested in properties since 1991. He got help from his dad since his dad was into investing also.
• He enjoys helping Stoll, a charity that helps homeless veterans.

BEST MOMENTS

• "Yes, now is the time to be in serviced accommodation because it's the case at the moment of don't miss the boat."
• "I believe that the traditional education system is lacking in this area [serviced accommodation education]. Many people would agree on that, I'm sure."
• "It's extremely stressful having a property portfolio without knowing how to do it right."

VALUABLE RESOURCES

• Association of Serviced Apartment Providers (ASAP)
• com
• Airbnb
• Progressive Property
• STOLL

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent the majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

CONTACT METHOD

• Kevin’s Facebook

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.

Welcome to another episode of The Serviced Accommodation Property Podcast! In today’s episode, Kevin focuses on the first of the acquisition strategies that he’ll discuss on this podcast to start earning through a serviced accommodation – Rent to SA. Learn how to rent to serviced accommodation by a letting agent or a landlord. What’s more beneficial for you? How do you get the most out of this investment strategy? What required process do you have to do? All of these questions and more will be answered in this episode so listen in!

KEY TAKEAWAYS

• Rent to SA by a letting agent, landlord, or management.
• Instead of renting a property from somebody and using at SA, you could just manage somebody else’s property as serviced accommodation.
• Buy-to-let conversion.
• Purchasing property to do serviced accommodation. Understand the due diligence process for SA in assessing demands.
• Lease purchase options. You fix the purchase price but you have a timeframe in which to exercise when to buy the property.
• Commercial Conversion. Tuning offices or factories to apartments.
• Straight lease a property to use as SA.

• A professional business relationship with you and your company – that’s what the letting agent will get instead of dealing with tenants.
• Great incentive for letting agents. No nuisance.
• Benefits for the owner. On-time payments, assets are high standards, at least weekly inspections
• Benefits to you. Quick cash flow.

• If set up correctly, they can earn capital allowances.

BEST MOMENTS

• “We’ve had properties that we take in from letting agents. We know what we have to – just dress the bed.”
• “If you do due diligence correctly, then you know that there is demand before you actually pay a deposit and first month’s rent.”
• “They pay, you organize.”

VALUABLE RESOURCES

• com
• Airbnb

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent the majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

CONTACT METHOD

• Kevin’s Facebook

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.

Welcome to another episode of The Serviced Accommodation Property Podcast! Today’s going to be interesting for a lot of people who do not realize that they could access their pension and put it into a self-invested personal pension (SIPP) and invest it in a property. Learn from Andrew John Ferguson, Managing Director of Penstar Developments Ltd., how accessing pension helped him accelerate his business and how is it different from what bridging loan companies offer. If it’s your first time to hear about this, then better tune in!

KEY TAKEAWAYS

• 50% loan to limited company – 2 residential properties
• 50% commercial property

BEST MOMENTS

• “I thought I was gonna wait ‘til I was 55 before I could get my hands on it [pension]. But actually, discovering I could get to it now by a different route - by using it for SSAS - allowed us to bring those plans forward.”
• "The beauty of it is - the interest that we agree of the money we borrow from the pension fund is actually being paid back to ourselves. It's not being paid back to bridging loan companies."
• "We always expected that our career would come to a point that we don't wanna take it further and we saw property as being the next step."

VALUABLE RESOURCES

• HM Revenue & Customs

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent the majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

ABOUT THE GUEST

Andrew John Ferguson is the Managing Director of Penstar Developments Ltd., a company that focuses on buying and selling real estate. Penstar also has rental properties in their property portfolio which are located around the East Midland/East Anglia region. The are also looking into building their Service Accommodation business in South Africa.

Before starting his own real estate company, he worked for corporate companies for more than 20 years. He worked as a BPO Global Capability Lead (F&A and Procurement) in Accenture Services Pvt. Ltd and as London Region Shared Service Centre Manager in Exel.

CONTACT METHOD

Andrew John Ferguson

• Andrew’s LinkedIn

Kevin Poneskis

• Kevin’s Facebook

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.

Welcome to another episode of The Serviced Accommodation Property Podcast! In today’s episode, Kevin lays out the key aspects that should be looked at when you’re choosing your serviced accommodation property. So, first things first, it’s important to be mindful of how’s the supply and demand in your area. What creates the demand will be the basis of what, where, and for whom is your serviced accommodation property – and that’s what this episode is all about. So, determine what you should be ticking on your checklists to make sure you’re hitting a goldmine when you listen to this episode!

KEY TAKEAWAYS

• Know your location:
  • Are there any building sites, industries, town centres, train stations, theme parks, universities, sports venues or airports near your area? Places that People who come work their need SA. Commute. Traffic of people.
  • Longer stays are better. It saves energy, money, and time to do tasks (e.g. prepping, cleaning, etc.)
  • Hotel futures report. it tells if there is enough demand for short-term stays in the area.
• Know your target customers:
  • White collar workers? Blue collar workers? Holiday-makers?
  • Tradesmen are less seasonal. They work all year round.
• What type of property of serviced accommodation?
  • It could be normal houses and terrace houses, not just apartments.
  • You can have high-end SA properties depending on the demand.
• Look at your competitors.
  • Go to Booking.com, you’ll see where the SAs and hotels in your area.
  • com is much better a booking agent.
  • Try to model yours with SAs that scores higher than 8.5.
• Assess demand for SA through the Chamber of Commerce. It will tell you any big businesses and projects that are coming in your area.
• Understand your cost. Due diligence is all about getting to understand whether or not it's going to work before you spend all your money. Get quotes from accountants for insurance, furniture, cleaners, utilities, etc.

BEST MOMENTS

• "We are noticing year on year a massive shift in behaviour... tradesmen are looking for serviced accommodation first now before they look into staying in hotels, guesthouses and B&B’s."
• "Remember: You only want to be modelling yourself on the listings that are getting good reviews."

VALUABLE RESOURCES

• com
• Airbnb
• British Chamber of Commerce

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent a majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

CONTACT METHOD

• Kevin’s Facebook

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.

Welcome to another episode of Service to Accommodation Podcast! So, in today’s episode, Kevin discusses the acquisition strategy of managing others’ properties as serviced accommodation. Discover what types of management you can choose from before deciding on an SA. Also learn about the purchase funding, lease options, commercial conversions among others.

If you’re done listening to this episode, you can also check out the previous episode for the first strategy Kevin discussed: Rent to SA!

KEY TAKEAWAYS

• Fees are a percentage of revenue. All the bookings that are coming in for the property, you will charge the owner a fee.
  • For full management, 15-20% to manage the property.
  • Also, maintenance, laundry, cleaning fee is deducted from the revenue.
  • All costs are paid by owner.
  • The owner could get less money than they would if they do let property as buy-to-let.
• Full Management. Taking bookings, payments, and guests. Advertising. Prepping the properties. Maintenance. Scheduling.
• Cloud-based management/ bookings-only management. You’re just using your system to manage other’s properties. Taking bookings and payments. Advertising.
• If you own buy-to-let’s already, you can convert them to serviced accommodation.
  • Do due diligence first.
  • Consider strategy. do you send notice to your current tenants?
• You can buy property to do serviced accommodation.
  • Refurbish and refinance.
  • Ongoing maintenance.
• What’s the exit strategy? Though Kevin firmly believes that serviced accommodation is not going anywhere, if it does not work, you could opt to sell.
• Purchase funding. You can use commercial finance. It is the preferred way of funding. There’s also bridging finance though it’s much more expensive. You can use that until you get enough credibility. Or you can use your own money.
• For different pension funds, you need to seek IFA advice. You can get SSAS or SIPP.
• Lease purchase options. Take control of a property and get a solicitor to draw a lease purchase option for you.
• Commercial conversions. You can purchase a commercial building to convert to SA. If already converted and used for buy to let, the developer cannot claim their capital allowances. If retained, hundreds of thousands of capital allowances can be claimed.
• Straight lease. Contact commercial surveyor and ask a short lease so it will be cheaper.

BEST MOMENTS

• “Focus on the ones that do work.”
• “Serviced accommodation is the best income-generating strategy today for somebody’s portfolio.”

VALUABLE RESOURCES

• com
• Airbnb

ABOUT THE HOST

Kevin Poneskis, also known as the Property Soldier, has been a full-time property investor and mentor since 2011. This happened after he served the army for 24 years. He spent the majority of these years in the 29 Commando Regiment RA and finished his time in the army as a Regimental Sergeant Major. Even during his time in the army, Kevin was already building his property portfolio and educating himself everything about real estate investments.

Right now, he is writing his book Property Soldier, in which 100% of the profit from the book will go to homeless veterans, and hosting The Serviced Accommodation Podcast which educates people who want to explore and earn from serviced accommodation property investing.

CONTACT METHOD

• Kevin’s Facebook