Introduction
As a landlord in Cambridge, you may be familiar with the traditional buy-to-let model, but have you considered the advantages of serviced accommodation? With changing market dynamics, many landlords are transitioning to short-term lets to boost their income and enjoy greater flexibility. In this article, we’ll explore why serviced accommodation is gaining popularity and how it could benefit your property portfolio.
Income Potential
One of the most compelling reasons to switch to serviced accommodation is the potential for higher earnings. Short-term lets in Cambridge often yield significantly more than traditional buy-to-let properties.
Higher Yields with Short-Term Lets: Properties listed on platforms like Airbnb can generate higher nightly rates, especially in a city with strong tourism and academic appeal.
Examples of Earning Differences: For instance, a property earning £1,500 per month as a buy-to-let could potentially bring in £3,000 or more as a serviced accommodation, depending on occupancy rates.
Flexibility in Property Use
Serviced accommodation offers unmatched flexibility compared to traditional fixed-term leases.
Benefits of Non-Fixed Long-Term Tenancy Agreements: You’re not tied to long-term tenants, allowing you to adjust your property’s use as needed.
Seasonal Pricing Advantages: Take advantage of higher demand periods, such as summer tourism or university term times, to maximise your income.
Market Trends in Cambridge
Cambridge’s thriving economy and vibrant culture make it an ideal location for serviced accommodation.
Increased Tourism and Student Demand: The city’s rich history, world-class university, and tech sector attract a steady stream of visitors.
Role of Business Travelers: Cambridge’s status as a business and innovation hub ensures demand from professionals seeking short-term stays.
Hands-Off Management Solutions
Worried about the logistics of managing short-term lets? Professional Cambridge Stays's comprehensive property management services are here to help.
How Professional Property Management Simplifies the Process: From guest communication and bookings to cleaning and maintenance, experts handle the complexities, allowing you to enjoy passive income without the hassle.
Conclusion
Switching from buy-to-let to serviced accommodation can unlock higher income potential, greater flexibility, and better alignment with Cambridge’s dynamic market trends. With increased demand from tourists, students, and business travelers, now is the perfect time to adapt your property strategy.
Ready to make the switch? Partnering with a trusted Cambridge Stays, a leading property management company ensures a seamless transition. Contact Cambridge Stays today to learn how we can help you maximise your property’s potential with serviced accommodation.
Comments