How to Start a Serviced Accommodation Business In The UK

Starting a serviced accommodation business in the UK requires careful planning and execution. Here are the essential steps to get your venture off the ground:

Create a business plan

You need to write a business plan first, you can download a business plan here and we also have a blog guiding you through step by step on creating your business plan here.

Secure Financing

The financial resources needed to acquire and set up your serviced accommodation property. This may include:

Securing a loan - in the UK we have government backed funding for people wanting funds to start their own business, you can research this here.

Obtaining investment funding - This is most common in the serviced accommodation industry, best way to get this is post on online forums and groups on facebook about what you are doing, document your journey so people can follow you then once you are ready, people will be much more likely to want to invest with you, we have a free to use group here full of people in the serviced accommodation industry.

Leveraging a rent-to-serviced accommodation arrangement - This is where you rent a property ideal for serviced accommodation and rent the property from the owner for a fixed long term rent, this keeps your investment cost very low.

Find the Right Property

the right property is crucial for the success of your serviced accommodation business. Consider factors such as:

  • Location,

  • Size,

  • Layout,

  • Amenities that will appeal to your target guests.

We have a guide on how to do this on our site you can use here.

You can hire a serviced accommodation sourcer to find you a property for an agreed fee, Stayful provide this service you can find out here.

Appoint A Management Company (optional)

If you do not wish to deal with the day to day operations of your serviced accommodation business, you can hire a management company to assist you, they will take all of the responsibilities of guests away from you for a % of gross bookings, Stayful provide this service you can find out more here.

Prepare the Property

You've secured the property, it's time to prepare it for guests. This includes furnishing the space, installing necessary amenities, and ensuring it meets all safety and legal requirements. Invest in high-quality furnishings, linens, and decor to create an inviting and comfortable environment for your guests, sometimes you can even outsource this for a fee, we at Stayful provide Airbnb interior design and setup for people with limited time and experience but wanting to get started in serviced accommodation

Establish Operational Processes

Operational processes to manage your serviced accommodation business effectively. This includes setting up booking and payment systems, creating cleaning and maintenance schedules, and implementing guest communication protocols. Leverage technology and automation to streamline your operations and provide a seamless experience for your guests using software like:

Turno

Uplisting

Monday

Can greatly help with this

Market and Promote Your Offerings

Marketing and promotion are essential for attracting guests to your serviced accommodation. Create a strong online presence by listing your property on popular platforms like Airbnb, Vrbo, and Booking.com. Develop a visually appealing and informative website, and utilise social media and other digital marketing strategies to reach your target audience.

Provide Exceptional Guest Experience

An exceptional guest experience is key to building a successful serviced accommodation business. Prioritise guest satisfaction by offering personalised services, responding promptly to inquiries, and ensuring the property is well-maintained and clean. Encourage positive reviews and feedback to attract repeat bookings and referrals.

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Interested Our Free Tools ?

We want to provide the maximum value for people wanting to explore the world of Airbnb & serviced accommodation, we have many other free tools and resources for you to take advantage of.

  • Install smoke detectors, carbon monoxide detectors, and fire extinguishers. Provide clear emergency instructions, secure access with locks or keyless entry systems, and maintain the property to prevent hazards. Or, you can have a holiday let management service like Stayful Holiday Let Management do it all for you.

    For more info click here.

  • Establish Clear Communication.

    Clear communication is key to a seamless check-in and check-out process at your holiday let property. Before your guests arrive, provide them with detailed information about:

    Check-in and check-out times.

    Directions to your property.

    Parking arrangements.

    Key collection or keyless entry instructions.

    Contact information for any queries or emergencies.

    Consider creating a comprehensive welcome guide that includes all the necessary information, and send it to your guests via email a few days before their arrival. This will help manage expectations and reduce the likelihood of confusion or misunderstandings.

    For more info click here.

  • Create an emergency response plan, including procedures for natural disasters, medical emergencies, or property damage. Ensure guests have access to emergency contact information and provide assistance as needed. Or, you can have a holiday let management service like Stayful Holiday Let Management do it all for you.

    For more info click here.

  • Rent to serviced accommodation is where you find a willing landlord prepared to accept a fixed long term rent, but with the understanding that you are going to use his property as a serviced accommodation property and make the difference between the rent and what you get per night.

    For more info click here

  • No serviced accommodation is not illegal, however it is important that you let the right people know what you are doing and intend to do before you put your property as a serviced accommodation property on platforms like Airbnb.

    For more info click here

  • This is not straightforward answer as different properties in different locations will produce different results, however your property could make up to £10,000 per month or as little as £1000 per month, we have created a free income calculator for you to find out for yourself.

    For more info click here

  • Management companies charge between 12%-20% for management, some may charge some extra fees and some may not, to get an accurate price reach out to one directly.

    For more info click here.

  • The short answer is no, you do not need planning permission to turn your residential property into a serviced accommodation property, however this is something that could change in the future and their are some things you need to do before turning your property into a short stay accommodation.

    For more info click here.

  • Serviced Accommodation is where a landlord or property owner lets out property on a short-term basis usually on platforms like Airbnb and charging per night vs per month for normal tenancies.

    For more info click here.

  • Serviced Accommodation is a tricky market and is heavily reliant on supply & demand, if you want to master serviced accommodation you need to be able to understand how to assess this and more importantly, understand how that will turn into not just revenue, but profit, we are going to show you the best way to get started in how to do this.

    For more info click here.

Serviced Accommodation F&Q

  • Respond professionally to complaints, addressing any valid concerns and outlining steps taken to resolve issues. Learn from feedback and implement improvements to prevent future problems. Encourage satisfied guests to leave positive reviews. Our specialist holiday let management service deals with these details so that you don’t have to.

    For more info click here.

  • Respond promptly to maintenance requests, have a network of reliable contractors, and fix issues as quickly as possible. Communicate with guests about the situation and offer compensation or alternatives if necessary. Our specialist holiday let management service deals with these details so that you don’t have to.

    For more info click here.

  • Follow data protection regulations, such as GDPR or other local laws, to protect guest information. Store personal data securely, limit access to authorised individuals, and obtain guest consent for marketing or promotional purposes. Or, you can have a holiday let management service like Stayful Holiday Let Management do it all for you.

    For more info click here.

  • Use high-quality photos, compelling descriptions, and competitive pricing. Offer unique amenities or experiences, and maintain excellent guest reviews. Promote your property through various channels, including social media, websites, and local partnerships. Talk to a holiday let management service like Stayful Holiday Let management.

    For more info click here.

  • Establish a clear cancellation policy, including deadlines, fees, and refunds. Communicate the policy to guests, and handle changes or cancellations according to the agreed-upon terms. Use booking platforms or software to manage cancellations and rebooking. Our specialist holiday let management service deals with these details so that you don’t have to.

    For more info click here.

  • Managing bookings and payments is a crucial aspect of running a successful holiday let. It involves establishing clear policies, using secure payment methods, and ensuring a smooth booking process for your guests. Here are some strategies for effectively handling bookings and payments for your holiday let:

    For more info click here.

  • Maximise bookings by adjusting prices, offering flexible booking options, and promoting your property on various platforms. Prepare for high demand by ensuring adequate cleaning and maintenance schedules and managing booking calendars effectively. Talk to a holiday let management service like Stayful Holiday Let Management

    For more info click here.

  • Establish a clear policy for group bookings, including maximum occupancy, additional fees, and house rules. Ensure your property is suitable for large groups and provide necessary amenities. Communicate expectations clearly to guests. Talk to a holiday let management service like Stayful Holiday Let Management.

    For more info click here.

  • Set transparent fees for additional services or requirements, such as cleaning, pet accommodations, or extra guests. Include these fees in your listing and booking platform and communicate them to guests in advance. Or, you can have a holiday let management service like Stayful Holiday Let management do it all for you.

    For more info click here.

  • Hire a professional cleaning service or create a thorough cleaning routine. Schedule regular deep cleanings, and maintain a checklist for each cleaning session. Replace worn or damaged items and perform regular maintenance. Our specialist holiday let management service deals with these details so that you don’t have to.

    For more info click here.

Complete Serviced Accommodation Management

  • We will deal with all guest communication for your airbnb so you do not have to.

  • We will manage the seasonality using our experience of the airbnb market and make sure you can always get the best rates for your property.

  • We have experienced, reliable, proven cleaners who we have a great relationship with giving you access to quality cleaners through our serviced accommodation management

  • We use our expertise when dealing with all the major booking platforms in order to maximise your reach.

  • Our serviced accommodation management team also can deal with any maintenance issues in your property no matter how big or small

  • It is important that your property does not cause a negative impact on the local community and that guests look after your property. This is why we thoroughly vet each booking and have maintained a great track record when it comes to guest damages and disturbance.

  • We hold ourselves accountable through reviews and have a great track record in the area so you can be sure that your property will be well reviewed.

Some Areas We Cover for Serviced accommodation Management

  • Short stay accommodation living room penthouse

    Leeds

  • Serviced accommodation flat living room

    Manchester

  • Short stay accommodation living room

    Leamington Spa

  • Serviced accommodation property living room

    Newcastle

  • Lincoln

  • Blyth

  • Nottingham

  • Harrogate

  • York

  • Darlington

  • Margate

All Area’s We Cover