If your home is located in a convenient location and you are planning to lease it, then here is a better option available for you. Now, you can double your profits by just spending some additional cost. With little bit of furnishing and upgradation, turn your home into service apartments and earn better rentals than the normal rates. According to property experts, transforming your property into service apartments can bring you huge profits, however initially, you may have to bear some additional costs. Most of the corporate people, now-a- days opt for service apartments over star hotels as it offers them same facilities and comfort at a lesser cost. If you are planning to gain most out of your service apartments then make sure you have a stable stream of clients and for this you can tie up with any travel agent or property agent who will bring you regular customers.What facilities should be made available in your service apartment?Service apartments are usually compared to 3 Star hotels hence it should incorporate all the amenities that are available in posh hotels. Air-conditioners, television with cable connection, refrigerator, washing machine, well-equipped kitchen are the basic amenities that every service apartment should possess. Apart from these, some of the property owners offer additional services like phones, computer with Wi-Fi connection and laundry services for which the extra cost is incurred by the clients. As there is a constant come and go of clients, maintenance becomes quite vital therefore the cost of maintenance is too high. Before handing over the apartment to each new client, you have to make sure that the appliances are in good condition, there is no leakage problem, the walls are freshly painted and other such maintenance issues.Additional costs to be borne by property owner:Apart from cost of amenities, the property owner has to pay heavy maintenance charges. If the service apartment is a part of housing society then you may have to pay additional maintenance charges per month lined up with commercial prices excluding the civic taxes. The property owner has to pay taxes like property, electricity and water as per the current commercial rates.How much rental to charge?Even if you are offering services equivalent to 3 or 4 star hotels, you need to keep your rentals lower than that of these hotels so that you can ensure corporates or travelers opt for your service over the hotels. You should charge at least 20 to 30% lower price than 3 star hotels. You can also sign a long –term agreement with the business clients.How much profit can you make?Your rental income mostly depends upon the location. It is not necessary that your property should be located in some prime or posh area but if it is located near commercial zone then it will be most favorable. Most of the executives currently are shifting their focus to service apartments as they have to pay less rentals but you can be benefited as you can gain certainly more than regular rental rate. Property owner can receive annual income of around 10 to 15 % of the value of property.Remember you need to take permission of the society management as well as get a No Objection Certificate (NOC) from the local police, if your service apartment is in housing society. Getting customers for service apartments is actually easier than getting tenants for normal apartments. Thus you can convert your property into service apartment and enjoy lucrative earnings.займ на карту без отказов круглосуточновзять кредит онлайн