LANDLORD CONVERTS PROPERTIES TO SERVICED ACCOMMODATION

Andrea Cooper, who owns 26 properties in Barnsley, converted five of her rental homes to serviced accommodation in 2018, a shift she reports increased income substantially. The properties are now let fully furnished for short-term stays of a minimum of three nights, with cleaning, ironing and linen included in the rental price. Cooper manages all cleaning and property maintenance herself. She states that converting her first property from traditional rental at £400 per month to serviced accommodation at £1,600 per month represented a fourfold increase in income.

Cooper began building her property portfolio in 2003 as a single parent, purchasing rental homes in Barnsley using equity from her own residence. After marrying, she and her husband continued acquiring properties using the same method: saving for deposits and remortgaging their home. The couple purchased a mixture of terraced houses and flats, all originally let on single-tenant agreements. Cooper notes that serviced accommodation was uncommon in Barnsley when she began, but has since become widespread.

Cooper reports that serviced accommodation generates four times the revenue of traditional lettings, though the model requires substantially more labour and involvement. She acknowledges that returns diminish if property management and cleaning are outsourced to other staff. She intends to convert her next available property to serviced accommodation and is considering a minimum 28-day rental period for longer-term, short-term lets. The decision reflects her assessment of market conditions in her area.