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In this episode Kevin explains how to avoid properties that have lease restrictions that would prevent you from legally running them as serviced accommodation. He explains how to get your hands on the lease and correctly interpret what it says to determine if the property is actually suitable.
KEY TAKEAWAYS
In the UK, over 80% of properties are freehold, which means that they are usually suitable for SA.
A lot of lease restrictions are open to interpretation.
You need to see and read both the lease and any sub lease for any property you wish to use for SA. In the episode, Kevin explains some of the things to look out for.
If you know that the block management company or neighbours are anti-SA it is best to go elsewhere even if the lease states that you can do SA. It is not worth the hassle.
BEST MOMENTS
‘Over 80% of properties in the UK are freehold properties, where there are no restrictions.’
‘A lot of these restrictions are open to interpretation.’
VALUABLE RESOURCES
Discover How to Profit from the Airbnb and Bookings.com Boom
The Serviced Accommodation Property Podcast
https://propertysoldier.co.uk/
Rich Dad, Poor Dad by Robert T Kiyosaki
Serviced Accommodation Success by Kevin Poneskis
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
kevin@propertysoldier.co.uk
