Busting some Serviced Accommodation Myths!

In this episode, Kevin busts some of the most common serviced accommodation myths. He helps you to better understand what can and cannot be done by SA business owners. Ensuring that nobody gets needlessly stuck or suffers unnecessary expense as a result of misinformation. He speaks about rates, planning classes, property standards classification, purchasing as a Ltd company and why you would not sign an ASD when taking a property off of an owner.   KEY TAKEAWAYS From a planning point of view, the appropriate use class for most serviced accommodation models is C3. For most SA landlords, going onto business rates is not something to worry about. Kevin explains why in the podcast. Serviced accommodation, which should definitely not be someone´s permanent home, is not covered by the housing act. If an agent is belligerently telling your property needs to be treated as an HMO use the housing officer to provide them with concrete proof that it is not. Kevin explains exactly how in the podcast. No business use clauses in leases do not always preclude your using a building for SA. All SA properties need to be bought as a Ltd company is a myth – Kevin explains why, including the potential tax benefits, in the episode.   BEST MOMENTS ‘You could potentially claim small business rates relief’ ‘I always suggest that you look at sublease and the head lease.’     VALUABLE RESOURCES Discover How to Profit from the Airbnb and Bookings.com Boom The Serviced Accommodation Property Podcast https://propertysoldier.co.uk/ Rich Dad, Poor Dad by Robert T Kiyosaki Serviced Accommodation Success by Kevin Poneskis https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676   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]