2 Ways to Find Serviced Accommodation Deals
1. Direct-to-vendor (D2V)
There are quite a few benefits of going D2V. By speaking to the landlord directly, you can be more creative in your approach, as you won't have to worry about an agent in between who will want their cut.
There are quite a few websites like Gumtree, which you can use to find D2V deals. However, another great option is to go through online agents.
The benefit of going to online agents is that in most cases the viewing will be done by the landlord himself! So this way you can get in front of the landlord quite easily and pitch your ideas.
Online Agents for finding D2V deals:
- Openrent (one of our JV partners got one of our properties from here, *pic below*)
- House Simple
- Purple bricks?
2. Letting agents
This is how I have got all of my deals.
The reason I like to go via letting agents as opposed to D2V for SA is that it allows you to scale much faster.
If you are going D2V, it can be quite time-consuming finding the property on the different websites, setting up the viewing/meeting with the landlord, pitching to them, and then seeing if they will agree or not... and if they don't, repeating the whole process again for just one property.
On the other hand, if you can get ONE agent on board, that's all you need! Once you have an agent on board and he gives you your first SA, that agent will have a whole pool of properties which they think might be more suitable for you and they will contact you every time something comes up.
Also, if you are looking to take multiple units in a single block, it will be easier to work with an agent who has multiple listings there as opposed to trying to locate all the different landlords individually.
A lot of people have asked me, well why would agents do that, whats in it for them?
Imagine you’re the agent, and you know this SA provider will take the property because it suits their needs. You won't have to do viewings with 20 families before you let it out. You do one viewing and you get your commission. Job done.
That's what in it for them!
In my experience, its always easier pitching to local independent estate agents or newer estate agents early on, as opposed to your big high street agents. The independent and new agents are more open to new things, whereas some of the old ones just refuse to do this sort of stuff as they’ve been burnt in the past.
Hope that helps you in finding some deals.
So, pick an area, locate the apartments you want on Gumtree, online agents, letting agents, book viewings and then pitch!