Is Your Property Suitable for Serviced Accommodation? 7 Things We Look For

1. Location and Local Demand

For us, this comes first.

A fantastic property in an area with little demand for temporary accommodation can struggle, while a relatively simple property in the right location can perform extremely well.

We look at what brings people into the area. This could include hospitals, major employers, construction projects, universities, business parks, transport links, events and tourism.

The question isn't simply, "Is this a nice area?"

It's: "Why would somebody need temporary accommodation here?"

2. The Type of Guest

Next, we consider who is likely to book the property.

Depending on the location, this could include contractors, business travellers, relocating professionals, NHS staff, families or leisure guests.

Understanding the likely guest helps determine how the property should be furnished, marketed and priced.

3. The Property Layout

The number of bedrooms isn't the only thing that matters.

We also consider bathrooms, communal space, bed configurations and whether the overall layout works for the guests we're targeting.

For contractor and professional accommodation, for example, additional bathrooms and good-sized bedrooms can make a property particularly attractive to groups sharing accommodation.

4. Parking and Transport

Parking can make a significant difference, particularly when targeting contractors and business travellers.

If a property doesn't have parking, we look at nearby alternatives and public transport connections.

Being close to major roads, railway stations, hospitals or employment areas can also increase the property's appeal.

5. Local Competition

We want to know what guests can already book nearby.

That means looking at competing serviced accommodation, hotels and other short-term rentals.

Competition isn't necessarily a bad thing. In fact, it can demonstrate that demand exists.

The important question is whether we can create an accommodation offering that competes effectively within that market.

6. Potential Revenue vs Operating Costs

Revenue alone doesn't tell us whether a property works.

Serviced accommodation comes with operating costs including utilities, cleaning, laundry, booking platform fees, maintenance, consumables and other expenses.

We therefore look at realistic nightly rates and occupancy alongside the expected costs of operating the property.

This is particularly important when considering guaranteed rent, because the numbers need to work sustainably for both the property owner and the operator.

7. Can We Create a Great Guest Experience?

Finally, we ask whether we can turn the property into somewhere guests will genuinely want to stay.

Presentation matters.

At Paragon Stays, we prefer to have control over how properties are furnished and presented so that we can create a consistent standard for our guests.

A well-designed, comfortable and professionally managed property can lead to better reviews, repeat bookings and stronger overall performance.

So, Would Your Property Work?

There's no simple formula.

Two similar properties can perform very differently depending on their location, local demand, layout and operating costs.

That's why we don't believe in promising landlords unrealistic returns before doing the research.

Sometimes our assessment may support a guaranteed rent arrangement.

In other circumstances, serviced accommodation management may make more sense.

And sometimes we'll conclude that serviced accommodation isn't the right strategy for the property at all.

The important thing is finding that out before committing to the wrong model.

Want Us to Take a Look at Your Property?

If you're a landlord or property owner considering serviced accommodation, Paragon Stays can carry out an initial assessment of your property and local market.

Send us your property postcode and a few basic details, and we'll take an initial look at whether serviced accommodation could be suitable.

See What My Property Could Achieve →

Contact

Reach out for bookings or landlord enquiries

Email: jamie@ppgproperty.co.uk

Collerick Close, Alsager, Cheshire