Starting Out in SA & Dealing With Agents, Live Mentoring Call_mixdown

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 a live mentoring call with Matt who is starting out in Serviced accommodation.  Matt asks about increasing the number of SA units, possibly on a rent to rent basis and how you stop getting shut down by letting agents.  In this informative episode, Kevin explains exactly what to say and do when you are starting out in Serviced Accommodation. The detailed hints and tips in this episode are a must for anyone wanting to move into SA, listen in and benefit from Kevin’s expertise and experience in this area.  Remember, if you would like the opportunity for a live mentoring call make sure to subscribe and follow Kevin on Social media. KEY TAKEAWAYS  How can you get deals from agents?  It’s all about using the right scripts for letting agents and for landlords, Prior to visiting the agent, approach local companies and give them examples of how they can save money using you rather than a hotel for employees and visitors.  Target a specific property, ask if the agent will do a company let, you are an accommodation company and will be using the property for your clients.  What do I need to know when doing a deal?  It may be referred to as a company let agreement or common law tenancy, this is how you will be sourcing the property from the agent.  Your guests are not going to be staying on shorthold tenancy agreements they will be signing your terms and conditions and ‘right to rent’ checks will not apply.  If you already have SA units the agent can visit to see the standard if you have no units currently then you can collaborate with others and use their units to show agents.  This will build confidence that the properties will be kept in show home condition and becomes your USP.  What type of bookings will be best?  In Blackpool it will be advantageous to have a minimum 3-night stay for property units – this is more profitable and will lessen the hen and stag do take up.  It will be seasonal, but the population is higher than 70K, resulting in high demand in the summer with high profit and in the winter breaking even.  Occupancy should be between 70-75% over the year, If you have 100% occupancy you are overly cheap.  You should disincentivise the short stays and encourage the longer stay bookings for the highest profit margins.     BEST MOMENTS  ‘The appetite for deal packaging, rent to SA at the moment is awesome’  ‘9 times out of 10 times the agent won't visit due to time restraints but the offer to visit makes them feel more at ease’  ‘You are getting their buy-in for it to be advertised on booking.com and Airbnb’  ‘When you go to the agent with that much volition and credibility it is much more powerful’     VALUABLE RESOURCES  The Serviced Accommodation Property Podcast     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]