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Expertcast 1 – Serviced Accommodation with Tsen Wharton of Adaero Property

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In this first Expertcast Tsen Wharton is talking all things serviced accommodation. As a property entrepreneur Tsen is on a journey of continuous growth and property is what gives him the opportunity to be the best the version of himself and consistently reach to achieve more.

He shares the model he and his business partner have developed and refined over time and discusses both the advantages and challenges of serviced accommodation. Ultimately all property strategies can work very well but it’s vital to understand which is right for you.


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KEY TAKEAWAYS

  • Serviced accommodation is a fully-fledged hospitality business.
  • You have guests that pay by the night for a bed and the associated services. They are not tenants they are guests, it’s a business operator and client relationship.
  • The price to pay by the night is a premium compared to the rent from a tenant.
  • Rent to rent operators are capitalising on taking property and repurposing it for a different market
  • Most people associate serviced accommodation with the traditional holiday lets but there are many wide and varied demands for serviced accommodation.
  • Identify where the demand is first this could be near a hospital or a contractor market if there is development taking place.
  • It should all start with identifying the audience you are going to serve with your serviced accommodation.
  • The category of serviced accommodation is determined by the local authority. It is recommended that you get in touch with the planning office to find out about licensing for the area.
  • 100% disclosure is important in acquiring property for serviced accommodation.
  • Many landlords are positive about their properties being taken on as corporate lets for serviced accommodation.
  • All property strategies can work very well but it’s important to understand which is right for you – for some serviced accommodation will be the perfect answer.

 

BEST MOMENTS

‘We are in the business of providing solutions’

‘What is your ‘why’ and does serviced accommodation fit that?’

‘We have proved our model and our marketplace’

 

VALUABLE RESOURCES

The Property Nomads Website

https://podcasts.apple.com/gb/podcast/the-property-nomads-podcast/id1440016017

The Property Nomads - Stitcher

Buy To Let: How To Get Started – By Rob Smallbone (Amazon) 

Predictable Property Profits by Tsen Wharton

www.adaeroservicedaccommodation.com

tsen@adaeroproperty.com

 

ABOUT THE GUEST

Tsen Wharton

Tsen Wharton is a full-time property entrepreneur, actively investing each year in property, and his own self-development, to add increasingly more value into the marketplace.

Tsen discovered personal development and property education in his early twenties and a few years later bought his first investment property. Alongside a 10 year career spanning media sales and recruitment, Tsen built up a rental portfolio of properties that eventually gave him the freedom to leave the world of employment in 2014 and start a software business serving recruiters. 

Tsen’s focus today is 100% on property, from active investing to business growth and mentoring through mastermind groups. With his business partner Chris Dornan, Tsen runs a successful Serviced Accommodation business and has a property portfolio spanning single lets, HMOs, Serviced apartments and commercial property. He is on a journey of continuous growth, facilitated by serving others through property investing, teaching and mentoring.

 

ABOUT THE HOST

Rob Smallbone the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.

Buckle up, sit tight and enjoy the ride that is life.

 

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