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Amazing online course that reveals the secrets of Serviced Accommodation
Professional compliant property income stream delivering a real consumer need whilst generating profit.
Serviced accommodation leverages technology previously unavailable to individuals and connects them to customers directly around the World.
Detailed Learning Objectives:
1. Understanding the opportunities offered by and the work required to successfully operate a service accommodation business of scale whilst building it at speed.
2. The DIAMOND Model. These will form individual learning objectives. It's important that students understand the overall importance of The DIAMOND Model, how the elements fit together, and the order in which these process steps need to be undertaken.
3. "D" for discover. Discover which types of service accommodation will successfully trade in which areas such that before the decision is even taken to attempt to open a service accommodation unit in a particular area for a particular sector, a thorough understanding of the customer types and competition in the area, given an overview of approximate occupancy rates and profit.
4. The "I" in The DIAMOND Model. Interrogate. Having discovered which type of property might work in which area, a thorough investigation of actual night rates, actual occupancy rates, successfully filling in the templates that are provided for students in order to give estimates of profitability and particularly the key costs. Successfully completing the interrogation stage should lead to students having a business plan for each of their service accommodation properties before it goes live.
5. The "A" from The DIAMOND Model stands for acquire. Seven different ways to successfully acquire service accommodation property. To be able to explain this to others is critical because a number of the ways in which property can be acquired involve using other people's property. In order to work with other people, it's clearly essential that students are able to explain the benefits and merits of for instance, rent to rent and management agreements or indeed lease options.
6. "M" in The DIAMOND Model is marketing. The very best property with a fantastic analysis as being perfectly acquired that isn't marketed or have no customers. Marketing is clearly essential. So an actual plan for their particular properties to achieve good marketing, to attract lots of the right types of customers.
7. "O" in The DIAMOND Model is operations. Understanding the operational requirements, how to let customers in and out, how to achieve good standards of housekeeping, how to cut the grass, how to keep the property compliant, are all essential elements of having a smoothly functioning operation for your service accommodation business. It's critical that students understand this.
8. "N" stands for numbers within The DIAMOND Model. If you don't measure it, you can't manage it. Which KPIs are appropriate, which aren't. Regular monthly reporting, the systems and software to automate this such that the students can and analyse the monthly performance without having to prepare monthly performance data.
9.. "D" in The DIAMOND Model. Duplicate. Having successfully established their first service accommodation unit, to duplicate and scale by adding multiple additional units. This will require a working knowledge of VAT, capital allowances. Company structure, LLPs, in order to be able to have discussions with confidence with the appropriate individuals to realise maximum benefit.
10. Overall, to be able to use all of the documentation, checklists, analysis tools provided, to support the various areas of their service accommodation business.
11. To understand their next steps, if they require additional support or not.