The Serviced Accommodation Property Podcast

The Serviced Accommodation Property Podcast

Download on the App Store

The Serviced Accommodation Property Podcast episodes

  • Serviced Accomodation Secrets with Sally Kember

    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 podcast, Kevin is being interviewed by Sally Kember of Serviced Accommodation Secrets. They talk about Kevin´s book, why he wrote it and how he used case studies to ensure that it went into enough detail to be practical in the real world.

     

    They discuss why Kevin switched from Buy to Let to SA as part of his strategy to handle the fallout from clause 24. As well as talking about the different tax regimes and how property owners and developers can use them to significantly improve returns. They also talk about the opportunities the CoVid crisis has created and one that everyone can potentially take advantage of right now.

     

     

    KEY TAKEAWAYS

    • If you are trying to get a big project done, for example writing a book, try to lock yourself away from distractions, it greatly improves your efficiency.
    • Case studies are a great way to learn, they are inspiring as well as informative.
    • Investing in some proper property education is worthwhile doing.
    • Ignorance is what gets you in trouble financially and leads to your missing out on business opportunities.
    • Serviced accommodation is a trading model, which enables you to get around some of the issues related to clause 24 changes.
    • The SA model can be made to work well even in the cheaper areas of a town.
    • Educating yourself properly about the various taxable allowances will save you a huge amount of money.
    • CoVid has created a bigger market for SA owners.
    • Kevin shares details of a new type of project which enabled him to quadruple his profit.

     

    BEST MOMENTS

    ‘I am a firm believer in proper training. When people say property education is expensive, I say that ignorance is more expensive.’

    ‘With SA 35%, of a property can end up as a capital allowance, yet most people are not claiming this.’

    ‘One deal can create life-changing recurring income, so you don't need a job anymore.’

     

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

     

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

    1 hr 7 min
  • Secret SA Loopholes...Interview with ME!

    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.

     

     

    For a change, in this podcast, it is Kevin who is being interviewed. During the interview, Kevin talks about finding, funding, and running combination Serviced Accommodation (SA). Kevin explains how you can buy a SA one day and start accepting guests, short or long-term, almost immediately. As well as how to set these properties up so you can avoid the fallout from section 24.

     

    He explains how he weathered the CoVid storm by being proactive and is planning to be ready for an upsurge in demand as things evolve and the crisis ends. He covers the important subject of financing an SA, including sharing a list of lenders who will provide the funds for this kind of venture.

     

    KEY TAKEAWAYS

    • Understand the difference between assets and liabilities – Kevin shares an example.
    • Recognise the fact that there is good debt and bad debt and learn the difference.
    • Only take advice from someone who knows what they are talking about, somebody involved in your form of property business.
    • The right mentor for you is someone involved in your industry who is one or two steps ahead of where you are now.
    • In the UK, using the right SA model, it is possible to mitigate the consequences of section 24.
    • Position yourself to take advantage of the staycation boom and be ready to benefit from a less competitive market, once the CoVid crisis ends.
    • Often, you can make SA properties that have been bought in cheap parts of town turn a high profit.
    • Getting finance for UK SA properties is not easy, but it is possible when you approach the right lenders – Kevin provides some recommendations.
    • It is possible to diversify a SA property, which will, often, keep it full for more of the year

     

    BEST MOMENTS

    ‘The loophole is serviced accommodation where you can go and get a property really cheap’

    ‘You´ve got to take advice from someone who's leading by example, and who is qualified to give that advice ‘

    ‘Sometimes a disappointment is actually the best thing that could have happened to you at the time’

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

    Rich Dad, Poor Dad by Robert T Kiyosaki

    Serviced Accommodation Success by Kevin Poneskis

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

     

     

     

    1 hr 30 min
  • Ben Brand on His COVID Pivot And Scaling Serviced Accomodation Fast

    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.

     

     

    Kevin is with Ben Brand who has proved that even with a worldwide pandemic and lockdown Serviced Accommodation can work through difficult and changing times.

    Ben shares his business journey and the adaptations he made when the world went into lockdown.

    As someone who has scaled a business successfully, he explains why it’s important to

    strive to be the best version of yourself, take risks if you want real change and the critical importance of self-education if you want to create a business that is a win, win for all those involved.

     

    KEY TAKEAWAYS

    • To grow a business, you have to change your mindset.
    • Seek self-education and do everything you can to invest in yourself.
    • Network extensively face to face and on social media. It’s vital to tell people what you are doing.
    • If you want to scale quickly then management of properties can help you to do this if you offer a quality service.
    • When you provide a good service, people will come to you.
    • Working with deal sourcers and establishing positive relationships can help you to scale.
    • We were able to pivot and provide a service for a range of key workers.
    • We changed our business model and moved to direct marketing.
    • We brought many operations in house and this allowed us to take even more on and have the control required to be successful.
    • The market is changing and the Serviced Accommodation market is now bouncing back.
    • Multiple units in the same block is a model that we are now moving forward with.

     

    BEST MOMENTS

    ‘If you want to change yourself you have to be prepared to change your life’

    ‘We knew we had to adapt and we weren’t going to go down without a fight’

    ‘The indicators are that SA will become the preferred accommodation for many individuals’

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

    Ben Brand Facebook

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

    32 min
  • Why Professional Photos Get Your Serviced Accommodation Booked

    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, Kevin looks at why the right professional photos of your serviced accommodation will make you more money.

    It can be easy to think that taking your own photos is a good saving but in reality, good professional photography will pay for itself tenfold as it generates more sales for your serviced accommodation.

    Kevin explains what makes the difference and exactly what you should have photographed sharing great advice and tips on how to get your SA property up the listings and booked.

     

    KEY TAKEAWAYS

    • When potential guests are looking on Airbnb they will move past photos that don’t grab their attention and stop only on those that grab their attention.
    • Good professional photography will Instantly jump off the screen.
    • Professional photography will always make a room look wider and the property will look lighter, brighter and much more appealing.
    • You will need 20 plus professional photos.
    • Have some close-ups that show the benefits of your serviced accommodation – tea and coffee making facilities, toiletries available.
    • Use the photos to sell to people all the benefits of your serviced accommodation
    • If people spend longer looking at your listing the algorithm pushes your listing up the rankings
    • Listing optimisation can help you to make a decision about the photos and the impact they have with the general public.
    • Set up a poll and ask your social media, this will also be further marketing for your property.

     

    BEST MOMENTS

    ‘If people paid attention to this they would make a lot more money’

    The photos are the portal to the world of that serviced accommodation

    Professional photography will sell the accommodation over and over

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

     

    20 min
  • Getting the Best Start in Your Serviced Accommodation Business with Ben Brand

    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.

     

     

    Kevin is with Ben Brand co-founder of STAYBC a premier provider of short stay serviced accommodation. He started his journey with Kevin’s serviced accommodation training and his business has gone from strength to strength.

    They discuss due diligence; capital allowances and how great serviced accommodation can be created by converting guest houses and B&B’s into studio room hotels. This is an opportunity to hear about how you can grow a successful business in serviced accommodation if you have someone to show you the possibilities and get the best education before you start out.

     

    KEY TAKEAWAYS

    • Someone showing you the opportunity is fundamental to your success.
    • If you invest in property education you are spending money on something that can transform your life.
    • Only take on a property that you know is going to work as serviced accommodation after you have undertaken your due diligence.
    • If properties are used as serviced accommodation the income is trading income not investment income and mortgage interest can be offset against this income.
    • When a property is used as serviced accommodation the moving parts inside the property such as the boiler and the kitchen becomes plant and machinery and capital allowances can be claimed.
    • Converting B&Bs and guest houses into studio room hotels means they can still be found on booking.com
    • There is a massive opportunity to create a win, win situation for everyone with these types of properties.
    • If you are acquiring residential property to convert to serviced accommodation the capital allowances will not have been claimed.
    • It’s always all about going the extra mile to secure direct bookings to create your own customer database.

     

    BEST MOMENTS

    ‘Your podcast got me to where I am now in Serviced Accommodation’

    ‘The SA bounce means we have been able to raise our prices by 40-50%’

    ‘We’ve learnt so much and have been able not only to operate but grow in this time’

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

    STAYBC website

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    53 min
  • BONUS! Do Not Miss This Special Announcement (NEW S.A. BOOK)

    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.

     

     

    SPECIAL ANNOUNCEMENT & NEW BOOK OFFER!

    1. First 300 to secure a copy will get a place on an exclusive online event with Kevin on the 'Serviced Accommodation Success Kickstart evening’. 
    2. To get this bonus and a chance of winning other prizes you need to purchase a copy of the book on Amazon. You can find the book using this link https://www.amazon.co.uk/dp/1909846635
  • Once you have purchased the book you need to email your proof of purchase to [email protected] 
  • You will then be sent your invite to the online 'Serviced Accommodation Success Kickstart evening’. 
  •  

    What You’ll Learn When you join Kevin at the online event

    • A deep dive visual presentation of what’s covered in the book
    • Q&A session with the Author
    • The latest property regulation changes - Kevin will cover up to the minute details including the recent VAT cut and stamp duty changes
    • Deep dive into the SA DEALS System - a simple 5 step system to successfully operating and building a SA portfolio
    • Why Staycations are fuelling the SA Bounce and Boom and how you can cash in.
    • Why SA with it’s great social distancing is creating massive demand.
    • How you can acquire Rent to SA property with literally no money down and have cash in the bank from forward bookings before paying out on rent.

     

    1. Everyone will get Kevin “how to advertise and rank hi on google” cheat sheet to get your SA business front and centre earning commission free bookings 
    2. First 300 will be entered into 2 prize draws -  5 lucky winners will win a 30 minute 1-2-1 coaching call with Kevin & 1 other lucky winner will win the chance to join Kevin on this Podcast where you can promote your SA business or simply ask questions and have a coaching/mentoring session
    3. BUT in order to claim these prizes you must join Kevin on the online Serviced Accommodation Success Kickstart Evening.

     

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

     

    9 min
  • Serviced Accommodation Success and Tax – Get It Right and Get Ahead

    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.

     

     

    Kevin shares an extract from his much-anticipated book ‘Serviced Accommodation Success’ which is due for launch imminently. He has chosen a section packed with information about tax and Serviced Accommodation, an area that is known for its mis-information and confusion. This is a chance to find out about what really matters and what is actually applicable to serviced accommodation from someone who has extensive expertise and experience in this sector. Listen in and learn.

     

    KEY TAKEAWAYS

    • There is never a definitive course of action for tax as only a slight variance in circumstance can alter the actions required. Always seek guidance from an experienced SA accountant and refer to HMRC
    • SA is more like a hotel, guest house or B&B because of the other services available such as laundry and cleaning. To qualify as FHL a property should be available for short term lettings for 210 days in a year and let for 105 days of short lets.
    • Income from SA is subject to VAT but income from buy to let and HMO is not and when the threshold is met VAT is chargeable to customers and payable to HMRC.
    • There are different VAT schemes that are applicable so it’s vital that professional advice is sought.
    • Section 24 legislation dictates that buy to let and HMO owners would no longer be able to offset their mortgage interest against rental income and tax.
    • In SA mortgage interest can still be offset against SA income subject to meeting the FHL or serviced accommodation criteria, so there is no need to purchase SA property through a limited company to avoid section 24 tax.
    • Many SA operators begin their SA journey by renting out part of their own home first and
    • the rent a room allowance is currently £7,500 allowing you to use part of your own home as SA up to the allowance tax-free.

     

    BEST MOMENTS

    ‘Many people use the term serviced accommodation when referring to a holiday let as well as SA’

    ‘Tax is an area that is often confusing’

    ‘Many SA operators begin their SA journey by renting out part of their own home first’

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

    https://www.gov.uk/…/guida…/covid-19-support-for-businesses…

     

    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

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

     

    27 min
  • Corona Virus Special - What Every SA Provider Must Implement Now

    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.

     

     

    Corona Virus Special - What Every SA Provider Must Implement Now

    https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

    DESCRIPTION

    This is a difficult time for everyone and Kevin shares the information and help available for Serviced Accommodation providers in this episode. There are SA operators who are full because although you cannot take bookings from leisure guests as we all ‘stay at home’, there are key workers who now need accommodation.

    Kevin explains in detail each step you need to take to ensure that you have bookings now and are one of the Serviced Accommodation Providers who can still offer a great service when everything gets back to normal.

     

    KEY TAKEAWAYS

    • Many serviced accommodation operators claim small business rates relief, and so are eligible for the 10k grant funding being made available. There is a business rate 12-month holiday available for hospitality businesses along with business interruption loans and the opportunity to defer VAT and income tax payments.
    • You should not be taking bookings from leisure guests but those that are key workers are still potential sources of income. Key workers are choosing to self-isolate so they are not putting their own families at risk and care homes are also choosing to book accommodation for their key workers so they have somewhere between shifts.
    • Focus on where the key workers are in your town and be proactive - contact hotels and anywhere in your locality that has key workers.
    • Be flexible on rates, in order to get bookings, you are going to need to be flexible at this point in time. Look at your terms and conditions and see if there is anything you want to relax such as rules excluding pets or children in your Serviced Accommodation.
    • Increase your marketing and presence across all platforms and consider incentives such as contributing to a local charity for direct bookings, teaming up with food delivery services and care packages.
    • Implement these things and you will get bookings and be front and centre of people’s minds when things go back to normal.

     

    BEST MOMENTS

    ‘People I mentor are getting this grant through and it’s coming quickly so it’s worth applying for’

    ‘Much better to try and work with the owners and landlords to find a solution together’

    ‘You can carry on as you were after this so stay positive and go the extra mile to get bookings now’

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    https://propertysoldier.co.uk/

    https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

     

    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.

     

    In The Serviced Accommodation Property Podcast you will learn how to Start, Systemise and scale a profitable Serviced Accommodation Business. Kevin served 24 years in the British Army, serving mostly in a Commando unit and retired at the rank of Regimental Sergeant Major, he left the Army in 2011 to became a full-time property investor. For most of his Army career, Kevin was investing in property and has been a successful property investor now for over 27 years which is why he is known as the Property Soldier. Serviced Accommodation is now Kevin’s preferred income generating strategy so Let Serviced Accommodation help you like it's helped Kevin by joining us on this podcast.

    CONTACT METHOD

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

    25 min
  • The World Premiere Of YourSA.app - with Mark Winship

    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.

     

     

    Mark Winship is one of the most experienced serviced accommodation operators in the country, with a multitude of experience in Rent-To-SAs, development-to-serviced-accommodation and purchase-to-serviced-accommodation under his belt.

    Along the way, Mark has identified one of the most pervasive problems in serviced accommodation, and used his considerable IT knowledge to solve it. In today’s show, Mark joins Kevin and a special live audience to show his new app, 'YourSA’ for the very first time, explaining in detail what it does, the incredible features that can streamline your SA business, and why it was created.    

    KEY TAKEAWAYS

    • After finding nothing but dissatisfaction in the apps and services he was seeing on the market, Mark began to develop his own app in 2019; one that would see to the requirements he was seeking in his own SA business.
    • The app was designed to service three fundamental business goals:
      • Time - Taking back hours that were being lost
      • Control - Taking back control from online booking agents
      • Longevity - Building a brand that was synonymous with quality
    • Systemisation needs to be robust, tested, and failsafe. All it takes is one communication error, and your whole system falls like a house of cards.
    • Mark and his company began to zero in on repeat bookings and customer loyalty, as one of the cornerstone metrics upon which to measure the success of his business. 
    • If using third-party apps and platforms continues to make the systemisation of our own businesses that much more complicated, then why do we persist in using them? That was the reasoning behind the creation of YourSA, which seeks to develop standalone native apps for serviced accommodation operators.
    • The main reasons for developing your own Serviced Accommodation app through YourSA are:
      • Build brand loyalty
      • Drive more direct bookings
      • Stop spending money on third-party solutions
      • Updates can end when third-party apps become defunct, which can make you non-GDPR compliant
      • Streamline guest messaging
      • The opportunity to earn money through additional revenue streams
      • Control over your own customer database
    • The features of YourSA are unparalleled in terms of adding value to the guest experience. This adds to the value you’ll be building into your SA business, as a pleasant customer experience will encourage return bookings.
    • The features don’t only benefit the customer experience, but also your relationship with your team. Geolocation, photography and instant updating, allows you to keep tabs on what your cleaning staff are doing, as well as maintenance and other groups.

     

    BEST MOMENTS

    ‘I’m really glad I didn’t have to wear a loud, stripy shirt, as I don’t think I could pull that off’

    ’The ultimate goal for all of us is running efficient businesses’

    ‘We’re the certainly the first viable way to have your very own app built for your serviced accommodation business’

    ‘It’s as close as you can get to standing over somebody’s shoulder and making sure that standards are as high as they should be’

    ’The end result is your very own app!’

     

    VALUABLE RESOURCES

    The Serviced Accommodation Property Podcast

    Mark Winship LinkedIn - https://www.linkedin.com/in/mark-winship-68b34833/?originalSubdomain=uk

    YourSA App - https://www.yoursa.app/2020/02/24/sa-are-you-ready/ - If you order your app-build using the PROG1 discount code, then you will receive a £350 discount on the price of the initial build.

    [email protected]

    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 to 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 his Army career, Kevin was investing in property and has now been a property investor for 27 years.

    CONTACT METHOD

    https://en-gb.facebook.com/propertysoldier/

    [email protected]

    39 min
  • Should You Use Your Property As Serviced Accommodation, And What To Consider?

    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.

     

     

    One of Kevin’s many followers has asked an interesting question: A single let property they own is about to become vacant again. Should they consider using it as service accommodation, and what are the main points to consider if they do so? 

    The answer isn’t as clear as many might think, but with Kevin’s help you can steer your way through the correct path, and hopefully get your serviced accommodation up and running in no time!   
     
    KEY TAKEAWAYS

    • Make sure you have permission from your lender. You may not have the right mortgage, but bear in mind that there are many SA products available now. Speak to your broker first and foremost. 
    • Remember that you can’t be black-listed by a lender simply for having a conversation. Black-listing only happens if you default, so by all means begin a dialogue with your lender. As long as you’re paying the bills, you have nothing to fear. 
    • Check the demand for serviced accommodation in your area - The general rule is that if the population of your town/city is over 70,000 then there will be some demand. Are there many hotels in the area? If the answer is yes, then it’s likely they’ve already done the research for you, and decided that the area has a need. 
    • If you’re getting the property back from a tenant, it’s highly likely that the furnishings in the house will need replacing, so prepare for the cost of that. 
    • Any expenses incurred through refurbishing your property can claim back as a capital allowance, or at least be offset against your tax using capital allowance. 
    • Professional photos of the property are a must! Make your property look as attractive as possible. And use a professional, as they’ll know exactly how to make your property look its best. 
    • Make sure you’re listed on Airbnb and Booking.com and endeavour to get that average rating up, as it’ll attract more people to your listing. Remember that the more sites you’re listed on, the longer it’ll take for your average review ratings to climb. 
    • If you’re going to list on numerous sites, make sure you get a channel manager. They’ll make sure you don’t get double-bookings, which can happen far more often than you think. 
    • You need the right insurance for your property. Talk to a broker who has experience in SA, short-term lets, or furnished holiday lets. Buy-to-let insurance is not the right product, so be aware. 
    • The best way of operating your SA is to do so through a limited company. They’re easy to set up, and you’ll be far more protected, especially if you have your own set of terms and conditions for each of your bookings.  
    • You can avoid Section 24 by moving your property into serviced accommodation, and then you can claim capital allowances. Use a specialist for this, and not your accountant. A proper surveyor will be much more thorough and save you far more money.

    BEST MOMENTS

    • ‘Please don’t say “Can I do serviced accommodation” because the answer is likely to be no!’ 
    • ‘It’s likely that you’re going to have to give that property a bit of a buff and a fluff’ 
    • ‘You’ve got to stage the property and dress it accordingly’ 
    • ‘Good photos are definitely going to make you a lot more money’ 
    • ‘Don’t try and do serviced accommodation on the cheap’ 

    VALUABLE RESOURCES

    • The Serviced Accommodation Property Podcast
    • List your property on the Booking website - join.booking.com
  • List your property on Airbnb - https://www.airbnb.co.uk/host/homes?_set_bev_on_new_domain=1498640434_MhzeKoJJtDSMcBf1
  • 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 to 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 his Army career, Kevin was investing in property and has now been a property investor for 27 years.

    CONTACT METHOD 

    https://en-gb.facebook.com/propertysoldier/

    21 min

About The Serviced Accommodation Property Podcast

From the publisher's feed

In The Serviced Accommodation Property Podcast you will learn how to Start, Systemise and scale a profitable Serviced Accommodation Business. Kevin served 24 years in the British Army, serving mostly…

More shows like The Serviced Accommodation Property Podcast

The Progressive Property Podcast by Kevin McDonnell

The Progressive Property Podcast

6 Listeners