What is a serviced apartment?
Serviced apartment is a type of accommodation that can be booked on a night-by-night basis, features kitchen facilities and at least a once weekly maid service. Rates generally reduce as the length of stay increases.
The definition above is the minimum specification for a serviced apartment but from this modest set of requirements there are a number of features which create different variants that all fall under the umbrella of serviced apartments. Here’s a guide to the many different types of serviced apartments on offer and the features which make them the ideal temporary accommodation solution.
On-site managed and off-site managed serviced apartments
Serviced apartments are either managed on-site or off-site. An on-site managed serviced apartment will usually feature a reception and property manager. An off-site managed serviced apartment has no staff on-site and keys are usually collected from a safety deposit box. Both types of management have their advantages; off-site management provides more privacy while on-site management ensures staff are available to provide assistance.
An aparthotel takes on-site management a step further by also including facilities that are usually associated with a hotel. As well as a reception and property manager, features can include a gym, bar and concierge services. This type of serviced apartment is best for those looking for the privacy and flexibility of a serviced apartment but with the additional services found in a hotel.
Residential serviced apartment
A serviced apartment can include a washing machine, dishwasher, tumble drier, oven, hob, toaster, kettle, Hi-Fi, iPod dock, just about anything you’d want it to. Over 80% of serviced apartments now include wireless internet at no extra cost and premium television subscriptions such as Sky are increasingly common. There’s no limit to what a serviced apartment can include; there’s one in our portfolio that includes a supercar for you to use during your stay!
Serviced apartments are paid for in a similar way to a hotel except that the rate per night reduces as the length of stay increases – see the graph above for an example. It’s also worth noting that in the UK, Value Added Tax (VAT) is only levied at 20% for the first 28 days. The VAT rate for subsequent days is applied only to 20% of the rate (in effect a rate of 4% is charged on the whole rate after the first 28 days).