Serviced Apartments vs Apartment Rentals
Short to medium term visitors to Hong Kong are not well served in the standard rentals market. That’s because the Hong Kong renting scene is geared towards those who look to live here on a longer term basis. Therefore, if you attempt to rent in Hong Kong on a short-term basis, you may end up with substandard accommodation with a minimum 1 year obligation. You would do better at a hotel. But using a serviced apartment in Hong Kong means you can do even better than a hotel.
Serviced apartments are the answer
Small flats and apartments for rent in Hong Kong 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 longer contract. It’s considerably more cost-effective and lower maintenance. Therefore, the short-term visitor to Hong Kong 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 1 month or more. 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 Hong Kong, 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 over a rental apartment. This means you have flexibility over the length of stay (usually with a minimum of 1 month). You also have flexibility over location. Therefore, you can opt to stay close to the area of Hong Kong 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. None of the usual day-to-day problems of running a property are your concern. It will all be handled for you.
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 Hong Kong here.
