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PROPERTY MANAGEMENT SERVICES

At Prestige Properties Serviced Accommodation we provide two different options for serviced accommodation management: a ‘rent-to-rent’ agreement or a ‘management’ agreement. We’ve provided some information on both to help you with figuring out which agreement better suits your needs. 

In the rent-to-rent model, both parties agree on a set rental price, and the property management company pays the landlord on a monthly basis. This works in the same way as a standard tenancy agreement; however, we eliminate the uncertainty that comes with a set tenancy, as you receive guaranteed income every month regardless of occupancy levels, which is part of the contractual agreement between you (the landlord) and us (the property management service). In addition, we set up your property for serviced accommodation (if it isn’t already) and cover all the bills, cleaning costs and maintenance. *Please note: we do not cover costs for any underlying structural repairs.

This is the basis of our rent-to-rent agreements at Prestige Properties Serviced Accommodation, which ensures us long-lasting, healthy relationships with our clients.

So to recap, we are ‘renting’ the property from you, and managing every detail involved in providing serviced accommodation, from managing bookings, to utilising our fabulous cleaning and maintenance teams to ensure a prestige experience for both guests and landlords. This is by far the safest way for you to receive guaranteed monthly income, and we are committed to maintaining your property to the same standard that you upheld or better, as in certain circumstances, our interior improvements can actually add value to your property.

A Serviced Accommodation Management Agreement is a contract between the property owner and the management service. In this instance, the property is not rented out as in the rent-to-rent model, but the same duties are still undertaken, including: managing direct bookings; managing bookings through listing sites such as Airbnb, booking.com, TripAdvisor and VRBO; marketing the property to increase bookings; and cleaning and maintenance.

A management agreement does not guarantee monthly income in the same way that a rent-to-rent deal does. Here the occupancy level risk per month is shouldered by the landlord; however, many find this can be a more profitable strategy than rent-to-rent if you are willing to take the risk.

When choosing the management agreement, your property will need to be set up as a serviced accommodation unit prior to us taking the property on, but of course, we can help with this. Once the property is set up, we will utilise our platforms using traditional and online marketing tactics to promote the property and manage every aspect of the serviced accommodation so that, if you wish, you can be completely hands-off. For this service, we take a 15% management fee on the gross bookings. At the end of each month, the cost of cleaning and maintenance and any booking fees are deducted from the gross bookings and what is left will be your income for that month.

RENT YOUR PROPERTY

If you’re looking to rent out your property through a professional, reputable serviced accommodation business, then you’ve come to the right place. As well as renting properties from landlords ourselves, we also have a pool of property investors who we have personally vetted, and who are always looking for new opportunities to work with respectable landlords. Use the form below to get in touch and discuss things further.

How do I rent out my property for serviced accommodation?

To rent out your property for serviced accommodation, you need to find a property investor who you can trust to manage the property in an effective way. Finding the right investor ensures you, the landlord, guaranteed income and peace of mind. In addition, knowing that your property is in safe hands is without a doubt the single most important factor when it comes to building a mutually beneficial relationship between both parties.

Finding the right investor can be difficult, but at Prestige Properties Serviced Accommodation, we do the hard work for you. Not only do we have access to an extensive list of reputable property investors who are eager to work with new landlords, but we also guarantee to manage each and every property we source on behalf of our investors.

Contractually, you will enter into a rent-to-rent agreement with the chosen property investor, and the property investor will sign a management agreement with Prestige Properties Serviced Accommodation.

The rent-to-rent agreement ensures you guaranteed income at a fixed rate every month, regardless of occupancy levels.

SELL YOUR PROPERTY

We specialise in finding quick off-market deals for landlords who want to sell their property without the hassle and fees of estate agents. Let us know about your property, or properties, by filling out the form below.

LANDLORD SERVICES FAQS

What is property management?
Property Management involves the day-to-day running of commercial and residential properties. This includes property set-up; cleaning; maintenance; managing bookings and guest communication; and marketing.
Our properties are marketed to both contractors and holiday-makers, which means we can operate all year round. We also change the prices throughout the seasons and advise our clients to focus on their income over a 12-month period.
There is a minimum night stay of 2 nights in each of our properties, this ensures that every booking is worth our time and outgoings.
We use Zeevou, a channel manager which connects all booking sites together under one calendar. Therefore, there is no risk of double bookings.
As we are operating as a business, it is in our interest to ensure that rent is paid in full to landlords each month, regardless of occupancy levels. Without our happy landlords, we wouldn’t have built the reputation we have.
We use a tool called ‘AirDNA’ which assesses the potential earnings of your property before we agree to manage it. This database also gives us an average daily rate and average occupancy level to work from, based on other serviced accommodations in the area.
This is decided by you, the landlord. Should you wish to allow pets, we charge the guests an extra £10 pet fee to cover extra cleaning costs. Any damages incurred as a result of pets are recoverable from the guest’s security deposit.
We maintain an excellent standard throughout our properties and send our guests an email encouraging reviews, which then earns them a 10% discount off future direct bookings.
The management fee is 15% including VAT. This is deducted from the gross booking total, prior to any commissions or booking fees.
We organise general maintenance and replacement items up to the value of £150. Anything above this value will need to be approved by you. On the rent-to-rent agreement, we cover the cost of maintenance, whereas on the management agreement this is deducted from the gross booking income. This is documented as a deduction on the monthly report you receive.
Can we expect long direct bookings?
Although this is not guaranteed, we pay particular attention to our direct booking website, marketing strategies and relationships with local employers to maximise the potential for this. In addition, our shop on the high street in Barrow-In-Furness generates even greater footfall.
Our clients are given a unique, personal login to our channel manager which allows them to see their own bookings.
Our team schedules the cleaning with our dedicated cleaning teams in different areas. When cleaning is due, the cleaners will collect the laundry from the laundrette and the consumables from us to carry out a full deep clean prior to each guest’s arrival. Once cleaning is complete, the cleaners are required to complete a cleaner’s checklist and report any maintenance issues. In addition, they provide us with a video walkaround of the property each and every time.
Check-in is via a lockbox which we install at the property. The key code is provided to guests along with the check-in instructions on the day of their arrival.
Yes – typically we will charge £150 per booking, although if the property is of a certain value this figure can be more.
In order to protect the property, we require guests to provide a government-issued ID, and they must sign the terms and conditions which enable us to undergo court proceedings for any significant damage not covered by the security deposit.
We have a full-time guest communications manager who is always on-call to answer any enquiries via telephone or email and does so in a timely manner.
Clients receive a monthly report breaking down the gross booking income, and any deductions such as our management fee, cleaning fee, maintenance fee, booking website fees and consumables. The report will also document how many nights have been booked, and on which website these bookings were made on.
From the initial engagement, a viewing is arranged at the nearest convenient time so we can ensure the property is ready for onboarding. After the property is approved, we begin making the listings, welcome packs, and guest manuals, which can all be done within a week.
3 months for a management agreement, and rent-to-rent is subject to the specific conditions of the contract we negotiate together.

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