Run one serviced apartment as a side business

Business travellers, contractors on short projects, people relocating, families visiting the area and people between homes.

A nightly or weekly rate, with discounts for longer stays. Income depends on how many nights you fill, minus cleaning, laundry, utilities, platform fees and rent or mortgage.

• Good with guests and quick to reply
• Organised, with a system for cleaning turnarounds
• Basic pricing and calendar management

• Planning or licensing rules for short lets differ by area, for example the night limits in Greater London and licensing in Scotland, so check with your council
• Landlord, lease and mortgage terms often ban short-term letting
• Gas safety, electrical safety, smoke and carbon monoxide alarms and fire safety, so check what applies to you
• Standard home or landlord insurance may not cover paying guests, so ask for short-let cover
• Empty nights and seasonal dips, so keep a cash buffer for rent and bills
• Check how your local council treats the property for council tax or business rates, and how your income is taxed

Estimates suggest startup costs are typically around £3,000 to £10,000 for a single flat, depending on furnishing and how you set up. Keep a cash buffer for rent and bills, as empty nights and seasonal dips happen.

Estimated monthly revenue is typically around £1,500 to £5,000, depending on how many nights you book and the dips in quieter seasons. Treat this as an estimate and check how your income is taxed.

Things to check: planning or licensing rules for short lets differ by area, for example night limits in Greater London and licensing in Scotland. Also check landlord, lease and mortgage terms, safety requirements and short-let insurance cover.