Requirements of Setting up Serviced Apartments in Mumbai(Bombay). Mumbai Serviced Apartments By BOMBAYPROPERTY.COM

PROPERTIES · PROPERTY MANAGEMENT · SERVICED APARTMENTS · PROJECT MANAGEMENT · RELOCATION

Serviced Apartments generally earn a higher return from renting out the property on a short term basis

Short term rental's could mean anything from one week upward, however one could stipulate their own minimum period as per their convenience - suggested minimum period should not be higher than 1 month.

Ideally, a Serviced Apartment should cost less than a 4 or 5 star hotel in the same region of the city and should offer more square footage, & all the amenities of a well establish home, which is fully furnished & equipped. A Serviced Apartment should always be as clean & organized, as a good hotel.

Preferably a Serviced Apartment should be serviced with daily cleaning, however it is also possible to rent the apartment out on short term basis with full self service only.

It is preferable to have a few apartments in the same building or near each other, so that the cost of servicing the apartments could be spread over more than one property, however this is not a must, it is a simple factor of distributing some of the cost of servicing the property.

In our experience, we have often found an initial hesitancy by Landlords, to the prospects of giving out the apartment on a short term basis. However, generally once they realize there is a large requirement for temporary housing from the organized business sector, the relocating expatriates, visiting families, etc. the landlords are happy to adapt to the potential of letting out their apartments to meet this requirement, thereby increasing their income (return) from the property.

BOMBAYPROPERTY have been in the business of setting up, managing, and marketing Serviced Apartments in India since 1997, and have been Pioneers in this segment of the property market as probably the first to start offering such an option. The company however presently concentrates its efforts in the city of Mumbai only.

Should you wish to examine the possibility of putting up your property in Mumbai as a Serviced Apartment, you could contact us for the same by visiting our CONTACT US page, and writing to us via our email form displayed there.