Serviced Apartments Vs. Rental Contracts
A typical rental contract (minimum 1 year) like you’d get from an estate agent is going to be lower cost than a serviced apartment.
It’s true when they say “you get what you pay for”, so if a serviced apartment is higher in cost, the big question is – What am i paying for?
The answer = Flexibility, Convenience and Peace of mind
Generally speaking, a fixed rental contract like you’d get with an estate agent will be a monthly cost which you’re tied into for a 1 year, sometimes 2 year minimum, with NO CANCELLATION POLICY.
So once you sign on that dotted line – you’re tied in and you have to hope your business project goes to plan, otherwise you could be left with a big financial liability.
All is fine if you’re relocating and know 100% you’ll need a place for 1 or 2 years and want to keep costs a little lower.. but a nightmare if your accommodating employees or working on a business project that could shorten or cancel at any moments notice.
Serviced Apartments, on average, require just 7 days to cancel or shorten your stay. Anything you’ve paid past these 7 days you’ll get refunded, no questions asked.
Plus, what if you need to extend your stay?
With a rental contract, this is either not possible and you’re back to the beginning, searching for properties to move into.. but what if there’s a gap between your current place and the new place?
And if you can extend, often it will be another 1 year commitment – not ideal if you only needed another month.. or week!
Serviced Apartments exist to solve unpredictable short term accommodation challenges.. so typically you’ll have 7-10 days before your check-out date to extend your stay, whether it’s for 2 nights or for 2 months. The flexibility is there.
Rental contracts can be a big hassle from start to finish.
To setup and complete them you have to usually pay admin fee’s, arrange tenant references, go through credit checks, pay upfront deposits – all of which takes up time and involves a lot of communication, printing and signing…
Once the dotted line is signed, you need to sort out utility bills – contacting existing utility companies, giving meter readings and setting up payments for the new tenant. Then you may need to contact the local council to arrange tax payments.You may also need to setup your own Wi-Fi services, most of which are a minimum 1-2 year subscription.. All of this takes time, admin and management.
During the tenancy, if there’s any maintenance problems, you’ll need to contact the estate agent, or the landlord directly to report issues, which may need following up on. There are often delays to getting things fixed, resulting in frustrated and un-happy guests.
After the tenancy, you’ll have the often forgotten hassle of getting your big deposit back – and often there are disputes, which can take up a lot of time and cause a lot of frustration.
Serviced Apartments take away all of this hassle. Just a few clicks to book (no contracts, big deposits or reference checks). Everything is included in the rates such as utility bills, taxes and subscriptions. Plus guest services are on standby for even the smallest issues, with quick turn arounds like you’d expect in a hotel – and managed via one simple point of contact at Suite Hub.
Peace Of Mind
Rental contracts can leave a lot of questions flowing through your head
- How do i know everything will go smoothly?
- What if we experience a water leak?
- What if the location is dangerous and not suitable?
- Can i really trust the landlord?
Serviced Apartments are operated by professional companies, who are trained and ready for anything that could interrupt a guests stay, even sometimes providing an alternative apartment in the same building or close by should there be a rare water leak or boiler breakdown. Your guests are looked after.
Serviced Apartments may look like a bit of a jump in price from the outset – but the extra you pay can sometimes pay for it’s self should you have to call on the FLEXIBILITY at any given time (shorten, cancel or extend)…
Plus, the old cliché “time is money” has a lot of truth to it. How much do you value your time? The time it takes to setup and manage a rental contract can be more than you think, which takes you away from focusing on more important things. After all, you’re busy enough as it these days!
Get in touch with us at Suite Hub and let us know what you’re looking for – we’ll send you a list simple list of options for your stay.