Is Using a Serviced Apartment Better Than Renting in London?

Short to medium term visitors to London are not well served in the standard rentals market. That’s because the London renting scene is geared towards those who look to live here on a long-term basis, with correspondingly long contracts. Therefore, if you attempt to rent in London on a short-term basis, you will end up with substandard accommodation at an extortionate price. You would do better at a hotel. But using a serviced apartment in London means you can do even better than a hotel.

Serviced apartments are the answer

Small flats and apartments for rent in London are, like in any capital city, in short supply. As with any other situation of short supply and high demand, prices go up. What’s more, most landlords will prefer to have long-term tenants tied in to a long contract. It’s considerably more cost-effective and lower maintenance. Therefore, the short-term visitor to London is left in a quandary. They want the benefits of rented accommodation, but they need it short-term. They also ideally need more services than you’d expect in typical rented accommodation. Serviced apartments are marketed and geared towards this market niche. They aren’t looking for the long-term tenants, but shorter term contracts of weeks to months. They are designed with all of the amenities of a hotel, with the space and set-up of private accommodation. They represent the ‘best of both worlds.

Costs

For businesses looking to temporarily house employees or clients for days, weeks or months, the costs of using a serviced apartment are competitive. The same is true for the leisure traveller too. You can get more for your money this way. The rates are fixed at the point of booking and won’t waver. Importantly, for those who are looking to stay in London, the rates are fixed in advance but notably tend to decrease over time. This reflects the fact that it is easier for the management company to have the serviced apartment occupied for longer.

Flexibility

Bearing in mind that a serviced apartment is the cost-effective option, you stand to benefit enormously in terms of flexibility. This means you have flexibility over the length of stay (usually with a minimum of three nights). You also have flexibility over location. Therefore, you can opt to stay close to the area of London you most need. Furthermore, flexibility comes because you are rented a fully furnished and serviced apartment. Most rental properties will not be furnished, and certainly won’t come with added amenities akin to a hotel. In fact, if you rent, you will also need to pay for all utility bills, involving complicated account opening and closing. With a serviced apartment this is covered, but you may need to cover phone calls. None of the usual day-to-day problems of running a property are your concern. It will all be handled for you.

Location

London is enormous. It is over 600 square miles. This means that it’s more like a mixture of towns and villages, each with a very distinct character. You don’t want to end up staying in the wrong area for what you need. Most typical rental accommodation falls in to populated pockets of the city. You tend to get a high number of cheaper and smaller properties in the outer areas, whereas central London only has exclusive property to rent. With serviced apartments, you get more choice of a range of property sizes and levels across the complete footprint of London. Therefore, you can find budget and exclusive serviced apartments throughout Docklands, East London, the City, Westminster and more. All you need to be concerned about is where in London suits your needs, then search for serviced apartments within your budget within that area.

Facilities and amenities

The biggest difference between renting and a serviced apartment is the amenities you can expect. With the rental market, there is no consistency in what you will get in terms of amenities. You certainly won’t get benefits such as concierge, chauffeurs and office facilities. With a serviced apartment you should expect high-standard amenities as standard, as well as being able to pay more for a fuller or higher level range. Things such as Wi-Fi all the way through to leisure facilities are things you can expect from serviced apartments which don’t typically exist in the rental market. Browse our selection of serviced apartments in London here.