Locating the Goldmine Area & The 90-Day Rule for SA - Mentee Call

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.     ‘There is a strategy that just about everyone can get into’  In this episode, Kevin shares a mentee call where the questions focus on finding your goldmine area, the 90-day rule and whether Serviced Accommodation has to be a self-contained unit. If you are starting out identifying a viable area for your serviced accommodation is key for your business and Kevin shares some great advice on where to access data and information that will help you to make the right decision along with an in-depth look at the different classes serviced accommodation falls in to and what that means for the development of SA. This is a great listen with lots of value for anyone who is either looking to go into SA or is already on the journey.     KEY TAKEAWAYS  The goldmine area  Everyone wants to know where their gold mine area is  If the town has a population of over 70,000 then it will be viable for SA  The hotel futures report provides the market research and detailed indicators for short term accommodation and this information and data is applicable to Serviced Accommodation  Look for large businesses, universities, sports stadiums and building projects these all create demand for accommodation  Does it have to be a self-contained unit?  If you are planning to develop a whole apartment SA, the most appropriate class is C3.  HMOs sit inside the housing act and are classed as C4 the people living there are not a family group or connected.  To let a property to individuals as SA by the room you need C1 class which is moving towards guest houses.  It can be dependant on how the council interprets the rules.  The 90-day rule in London  In a calendar year, you can do up to 90 days of short letting.  The reality is only Airbnb is counting so if you are using other booking platforms you can exceed the 90 days.  You can approach people and if a company books you for longer periods you will not be breaching the 90-day rule.     BEST MOMENTS  ‘All these people need accommodating’  ‘Currently, there isn’t anything that is an ’X’ marks the spot’  ‘You don’t need to exceed the90 day rule if you are proactive and secure bookings direct’     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]