Long stay rates for serviced apartment?

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  1. #1

    Join Date
    Jul 2017
    Posts
    4

    Long stay rates for serviced apartment?

    Hi!

    I relocated to Hong Kong last month on short notice and hope to live in Central/Sheung Wan. As I'm already travelling extensively around Asia for work and in the office on weekends, I haven't had much time to house hunt. I'm thinking of just getting a serviced apartment for the first 6 months - 1 year. The price for a small serviced unit is only slightly more than a very average partial furnished apartment in Soho, and I don't have to worry about a 1+1 year lease.

    Found a suitable development but I'm wondering if there's such a thing as a long-stay discount if I take a lease for several months up to a year? My friend did Shama Hollywood a few years ago and says he received up to 20 - 25% for a very long lease; and I know some other serviced apartments have 10 - 15% monthly discount off published rates if you stay over 3 months.

    I'm trying to negotiate with the representing agent but they only want to offer 5% for 3 months or more which seems very low to me. Any thoughts??


  2. #2

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,365

    Summer is busy and not the best time to ask for a discount. It's up to you whether you accept the price or not. I can't tell you if 5% means anything. What is the price size and location then people can chime in.

    Another note I can raise my prices 30% to offer you a 20% discount. % discount means nothing.


  3. #3

    Join Date
    May 2006
    Posts
    466

    If you're talking to a "representing agent", it sounds like it probably isn't really operating as a serviced apartment, or you're talking to one of the developer-owned serviced apartments, in which case, you probably can't get much discount.

    You can try asking your company admin team to see if they can negotiate a corporate discount.