What Is a Serviced Residence and Should You Consider It for Your Next Rental?

There is a rich choice of rental properties – from classic apartments to impressive skyscrapers of condominiums. Such accommodation is quite popular, especially in large metropolitan areas; one of such types is the serviced residence. These properties combine the feel of an apartment house for its residents with the conveniences of a hotel for today’s short-term, often-peripatetic renter demographic. But to start with, what are serviced residences, and should they make your next choice in renting? Let’s explore.

Understanding Serviced Residence

A serviced residence is a fully furnished property that offers short- or long-term stays with added amenities and services typically associated with hotels. These residences are established in the best city zones, so they are suitable for working people, families, and foreigners.

Features accompanying serviced residences are housekeeping facilities, concierge services and access to services such as gymnasiums, swimming pools, and lounges. The objective is to offer the tenant a convenient and free-from-stress living environment in which a single source meets their requirements.

Key Features of Serviced Residence

Apartments for rent are quite different from other apartments mainly because of the level of utility and sophistication they incorporate. Here are the key features that set them apart:

• Fully Furnished Units: Ideally located for occupancy, with trendy furnished appliances and essential features.
• Housekeeping Services: Tidy the home and maintain cleanliness and tidiness according to schedule.
• On-Demand Concierge: Hotel services include helping with reservations, deliveries, or other personal requirements.
• Utilities Included: Utilities are mostly included in the rent, saving more time because rent is paid monthly.
• Recreational Facilities: Gym facilities, swimming pool, sometimes spa and Jacuzzi, and sometimes rooftop garden.
• Prime Locations: These are commonly located in the central business districts for easy access.

Who Should Consider Renting a Serviced Residence?

Serviced residences cater to a wide range of tenants, each with unique needs:

• Young Professionals: These properties are ideal because they allow residents to live so close to places of work and offer low-maintenance living spaces.
• Expatriates: Another advantage of living in an apartment in a new country is that the concierge helps with certain services and utilities that are included in the apartments’ rent.
• Frequent Travelers: Such stakeholders are people who prefer the ambiance of getting a hotel while at the same time, having the feel of a home.
• Small Families: However, some serviced residences have designed rooms with family groups in mind, with playrooms and a swimming pool included.

Pros of Choosing a Serviced Residence

Convenience

All necessities including sophisticated appliances in the kitchen, internet connection, and other amenities, are already provided; hence, there is minimal stress in setting up a home. Some of these are that tenants can begin organizing right from the premises as they unpack their items.

Flexibility

Serviced residences provide more flexibility for tenants in terms of rental agreements because they can rent out their residences for short and long periods.

Comprehensive Amenities

Some of the other utilities like a gym and house keeping also add to the value in terms of making living smooth and comfortable.

Prime Locations

These properties are in the CBD regions and provide entry to business centres and non-commercial facilities, as well as communication systems.

Cons to Consider Before Renting a Serviced Residence

Higher Rental Costs

The luxury and convenience of serviced residences come at a premium. Monthly rent is generally higher compared to standard apartments.

Limited Personalization

Because of these fully furnished properties, tenants may have less freedom to personalize their living space.

Crowded Amenities

Shared amenities like pools and gyms may sometimes feel overcrowded in busier properties.

How Much Does Rent a Serviced Residence Cost?

The rental price of a serviced residence may vary depending on the options including the location, the size of the apartment and variety of services offered. As for lease price, in the two major Malaysian cities that are the Country’s Capital Kuala Lumpur, the price can easily start from RM 2500 and go up to RM 10000 depending on the size of the entire building. These rates are generally a bit higher than standard apartments, however, the services that are offered as part of the rent and the easy access to these services, the rates are usually reasonable to most tenants.

Tips for Renting a Serviced Residence

• Set a Budget: Determine your lifestyle needs and whether the added services align with your budget.
• Inspect the Property: Pay a visit to the residence of your choice to compare his/her level of hygiene and the presence of furniture and equipment, among other necessities.
• Review Lease Terms: Determine what is included in the rent amount and more importantly if there are any extra charges.
• Compare Options: Search for more serviced residences on the web to choose the one that suits you best.

Conclusion

The serviced residence is a revolutionary concept of contemporary lifestyle in the urban world — comfort meets convenience and luxury. The following are suitable for career executives, expatriates, those seeking a laid-back lifestyle, and even families- The firm makes the renting process convenient for most people. Despite the price difference, some of the facilities and locations may be really more precious in terms of pennies not to face a number of nuisances on a daily basis.

Maybe, if you’re currently thinking about your next rental, a serviced residence might be exactly what you’re looking for. Researching on the available property out there. Compare the advantages and disadvantages and investing into the right property that will fit your lifestyle and financial capacity.