Serviced Apartments: Can I Finance Them?
Several temporary housing types exist in Australia including serviced apartments. These apartments become investment opportunities for those who have the skills to find tenants. Plus, they require upkeep and marketing. Another option is to invest in the apartments and hire a property management company to take care of them for you.
These apartments feature amenities that put them in the furnished category. Serviced apartments are nice for individuals who require a short-term rental and prefer something that resembles a home more than a hotel. The kitchenette feature sets them apart from hotels.
Australia sees nine million tourists annually. An estimated three million tourists stay in Australia for about 21 nights. Thus, serviced apartments become an accommodation option for them. These apartments cater to individuals who need overnight accommodations. They also cater to those who require somewhere to stay up to six nights and from seven to 31 nights. Some serviced apartments take individuals who need somewhere to stay for more than 31 nights.
Mortgage House works with investors who want to purchase a building with these apartments. Keep in mind that they have high turnover, require constant maintenance, and benefit from professional property management.
To explore your options, our loan specialists have the tools to explore your financial goals and home loan interest rates.
Serviced Apartments Conclusion
Serviced apartments provide a viable accommodation option for international travelers, Australians on the go, and those in-between homes. Those interested in investing in this housing option can contact Mortgage House to discuss financing. Our loan specialists have the tools to find financial solutions. Contact our team today.