Often asked: What Is Service Apartment?

What does service apartment mean?

A serviced apartment is a furnished unit that is usually available for short-term or long-term stays. Apart from the furnishing, the maintenance and upkeep of the property is also looked after, by the owner. It is best suited for tourists and people who travel for work.

What is the difference between apartment and serviced apartment?

While apartments are commonplace, there is another type of living space that isn’t as widespread but offers much more, and these are serviced apartments. What is a serviced apartment?

Apartment	Serviced Apartment
Mostly rented for extended stay	May be rented for long or short term stay

6 

How does a service apartment work?

A serviced apartment is a fully furnished apartment available for both short-term as well as long-term stays, providing all the hotel-like amenities, such as having room service, a fitness center, and a laundry room. The good news is that even serviced apartments now offer yearly rents.

Are service apartments safe?

Serviced apartments are private and independent accommodation, hence, you can work, play and relax at any given moment. Since there’s usually 24-hour assistance available, they are safe and secure as well.

Is it cheaper to stay in a hotel or apartment?

The short answer: living in a hotel is as expensive as you make it. It can be less expensive or more expensive than renting an apartment, depending on your standard of living and how you are able to deduct expenses. At first glance, living in a hotel may seem expensive.

Why are apartments cheaper than hotels?

More space. Compared to the standard hotel room size, one could get a more spacious apartment for the same price. Most apartments have a living area, a kitchenette, and a sleeping area. It is hard to get a hotel room that will offer this and if you do, the costs are usually really high.

What is included in a serviced apartment?

What you should expect from a serviced apartment:

• A fully equipped kitchen, usually with both dishwasher and washer/dryer.
• One or more separate bedrooms, or in studio apartments, a designated sleeping area.
• A living area.
• A bathroom.
• TV, Wi-Fi and the latest in-room technology.
• All utilities included i.e. water & electricity.

Are serviced apartments worth it?

Serviced apartments offer better value and more space than a hotel, but the longer your stay is, the better the value they offer. After 28 nights in a serviced apartment, the rate of VAT that guests need to pay will drop to just 4%.

Can I buy service apartment?

Because of the long leases, serviced apartments can only be sold to investors – the owner-occupier market is effectively shut out. While there are always exceptions to the rule, generally speaking serviced apartments have poor capital growth.

Is it possible to live in a hotel?

Throughout the years, many people have chosen to take up residence in hotel rooms, rather than rent an apartment. There are real- life Eloises, brought to live in hotels by their parents. Or travelers sent overseas, for whom a hotel is the ideal prefab base.

How do I start a service apartment business?

Here is the step by step guidelines on how to start a Service Apartment Business:

1. Step 1: Map Potential areas for starting a Service Apartment.
2. Step 2: Identify area to Start a Service Apartment.
3. Step 3: Visit all the Serviced Apartment in Identified area.