How to Budget for a Serviced Apartment in London

What’s a good budget for a serviced apartment stay and how much do serviced apartments actually cost in London?

In our opinion, the ideal budget is one that accommodates all your requirements while balancing a good location (for your specific needs), quality amenities, dedicated support for emergencies and inclusions (like laundry, bills) that save you extra hassle and costs during your stay. But if you don’t have one, that’s ok.

Time and again, we’ve seen budgets based on guesswork—sometimes from nightly rates in another city, or from Airbnb listings or long let rentals (that exclude any furnishing, cleaning or utilities). 

If your budget expectations are based on the wrong reference point, you could be setting yourself or your corporate travellers up for disappointment—or unnecessary risk. 

When asked for your budget, instead of starting with a random number, start with your requirements.

For example: “What kind of budget would I need for a two-bedroom property in Kensington with air conditioning, 24-hour reception, and weekly housekeeping?”

This approach gives you a realistic price range before you commit. If you have a strict budget or corporate rate cap, you can then adjust your wish list to match what’s possible—without compromising on the essentials.

Set your budget too low, and you risk hidden costs later—like longer commutes, lower-quality furnishings, or the absence of essential inclusions such as wifi, cleaning and maintenance. Set it too high, and you might end up paying over the odds for unnecessary luxuries or high-end districts you don’t need, stretching the budget without delivering extra value.

This guide will help you cut through the confusion by showing you how to accurately budget for a serviced apartment in London.

How to budget for a serviced apartment in London

1. Start With the Stay

Before diving into pricing, always clarify the parameters of the stay:

• Who is travelling?
  Senior executives, project teams, interns, secondment, or relocating staff? The type of traveller affects expectations and budget. Solo stays vs team or family stays drastically affect costs.

• What’s the duration?
  Nightly pricing varies depending on whether it’s a short-term or long-term stay. Most serviced apartments in London offer discounted rates for stays over 7, 28, or 90 nights.

• Where is the stay taking place?
  Location impacts cost dramatically. A serviced apartment in Central London (e.g., Mayfair, Westminster, or near Tower Bridge) will cost significantly more than one in Zones 2–4 like Canary Wharf.

• Why are they staying?
  Business trips, temporary housing during relocation, or a long-term secondment all come with different needs—and costs.

Understanding the full picture allows you to map out realistic expectations and source accommodation that suits both budget and business needs.

Establishing these early helps narrow down viable accommodation options and budget ranges.

2. Research Realistic Market Rates

Once the scope is clear, the next step is to gather price benchmarks:

• Consult serviced apartment booking platforms – Sites like Checkin Apartments offer a good choice of vetted accommodation with transparent pricing.

• Engage with serviced apartment agencies – They often provide rate cards, corporate discounts, and tiered pricing based on volume and duration.

• Compare by location and apartment type – A 1-bed in Canary Wharf may range from £120 to £200 per night, but jump to £250+ in Mayfair. Understand how neighbourhoods impact cost.

• Ask for inclusive quotes – Make sure pricing includes VAT, Wi-Fi, utilities, cleaning, and service charges to avoid under-budgeting.

This stage is not just about identifying the cheapest option—it’s about calculating true value.

3. Identify Key Cost Variables

Here’s where budgeting gets granular. Several components influence the final cost of a serviced apartment stay:

A. Length of Stay

• Nightly rates apply for short stays, but weekly or monthly discounts usually kick in for longer bookings.

• Budgeting by calendar month rather than day-rate can lead to better clarity for stays over 30 nights.

B. Number of Guests

• Will one apartment serve multiple team members?
• Are extra beds or baby cot charges applicable?
• Will accompanying family members be staying?

C. Apartment Type & Size

• Studio, 1-bed, 2-bed, or 3-bed apartments each carry different rates.
• Multi-bedroom apartments may be more cost-effective for groups than booking individual hotel rooms.

D. Location Premium

• Central business districts demand higher prices.
• Proximity to transport hubs or offices can justify higher costs if it cuts down commuting time and expenses.

E. Inclusions & Add-Ons

Be clear on what’s included:

• Wi-Fi – Should be standard, but confirm.
• Utilities – Water, gas, electricity often included, but check for caps.
• Housekeeping – Weekly cleaning is typical, but more frequent services may incur charges.
• Laundry facilities, parking, baby cots – Confirm if these are included or extra.
• Gyms – sometime incur an induction fee, check this.

4. Beware of Hidden or Overlooked Costs

This is where corporate budgeting can come undone. Always ask providers to itemise costs clearly. Red flags and potential cost traps include:

• VAT variations: For stays over 28 days, VAT may be reduced (to 4% in the UK), but not all suppliers reflect this accurately in quotes. Some may be VAT exempt.

• Early termination fees: Especially for long stays, find out the cancellation policy.

• Security deposits or damage waivers: These may be refundable, but they still impact cash flow.

• Cleaning or checkout fees: Usually serviced apartment do not charge a checkout or cleaning fee, however for pets, some operators add final cleaning fees for stays over a certain duration.

• Currency fluctuations: For international travel, consider the effect of exchange rate variability if billing is not in GBP.

5. Align With Company Policy and Stakeholder Expectations

Corporate travel budgets don’t exist in a vacuum. Before finalising the serviced apartment budget:

• Check internal travel policies – Maximum nightly rate caps? Preferred suppliers?

• Involve HR or relocation teams for extended stays or family relocations.

• Communicate with department heads if the stay is for project teams or client assignments—they may have expectations around quality or amenities.

• Negotiate corporate rates or volume discounts if planning multiple stays or company-wide use.

6. Factor in Traveller Wellbeing and Productivity

This might not have a direct number on your spreadsheet, but it will affect value for money.

• A well-located, comfortable apartment with cooking facilities can significantly improve productivity and morale over time.

• Laundry facilities save on dry cleaning.

• Long stays in cramped or poorly equipped spaces can lead to fatigue, burnout, or costly changes.

• High-quality serviced apartments reduce the need for per diem expenses (eating out, laundry, etc.), so budget savings can appear indirectly.

Build a Sample Budget Template

Here’s a simple structure for internal approvals and forecasting:

This format helps to break down and justify the spend to finance and leadership teams.

Budgeting for serviced apartments is about more than finding the lowest price—it’s about value-driven planning. The right accommodation improves productivity, controls ancillary costs, and enhances employee experience. With clear objectives, diligent cost breakdowns, and proactive supplier engagement, corporate travel managers can make serviced apartment stays a cost-effective, policy-aligned solution for modern business travel needs.

The Hidden Cost of “Bargain” Accommodation

It’s tempting to hunt for the lowest rate, but in London’s serviced apartment market, too good to be true usually is. Lower prices often mean cutting corners on quality, safety, or service standards. That might look like:

• Last-minute cancellations from unreliable hosts (especially private hosts for whom a change in personal circumstances may impact bookings)
• Poor cleanliness or lack of regular housekeeping
• Broken amenities or under-equipped kitchens
• Limited or no guest support when something goes wrong

You might save a few pounds per night, but if you end up spending your time chasing repairs, moving mid-stay, or booking emergency alternative accommodation, those “savings” vanish—along with your peace of mind.

Why We Work to a “Reasonable” Budget, Not the Lowest One

We believe in something for every reasonable budget. That means we only work with property providers who meet our high standards for quality, safety, and customer service. Why? Because in corporate travel, relocations, and extended stays, you can’t afford a bad stay.

A great stay—one that’s clean, safe, comfortable, and exactly as promised—is priceless. And your budget should reflect that.

Yes, bargains exist. But when you don’t want to gamble with the quality or smoothness of your stay, it pays to work with an expert who knows the London serviced apartment market inside out. We can recommend a budget—and properties—that align closely with your needs and expectations, removing the guesswork entirely.

In a city as competitive and price-sensitive as London, a well-set budget isn’t just about numbers—it’s about ensuring the right balance between value, quality, and peace of mind.

But here’s the challenge—London offers a vast range of serviced apartments, from sleek studios in Canary Wharf to luxury one-bedrooms in Mayfair. With such variety in neighbourhoods, property types, amenities, and included services, establishing a clear price range can be tricky. Comparing options isn’t always straightforward, especially when rates are presented differently and not all quotes include the same costs.

The task becomes even more complex when you factor in the priorities of different stakeholders:

• The traveller wants comfort and location.
• The business needs value and cost control.
• HR or relocation managers need safety, flexibility, and compliance.

How to Save Costs When Budgeting for Serviced Apartments

Once you’ve outlined your serviced apartment budget, the next question should be: where can you optimise spend without sacrificing quality or traveller satisfaction? Here are strategic ways corporate travel managers can reduce costs when booking serviced apartments—particularly in high-cost markets like London.

A. Book Longer Stays to Unlock Lower Rates

The longer the stay, the lower the nightly rate—this is a major cost lever in the world of serviced accommodation. Most operators apply discounts in the following tiers:

• 7+ nights: Short-stay discount
• 28+ nights: Medium-stay discount, often with reduced VAT (4%) from the 29th night onwards (please note this does not apply to all properties).
• 90+ nights: Long-term rates, with the potential for corporate lease terms

If your project timeline or relocation schedule is flexible, committing to a longer stay upfront could result in 15–40% savings on the standard rate.

B. Choose Multi-Bedroom Apartments for Group Stays

When budgeting for project teams, contractors, or interns, it’s often more cost-effective to book 2-bed or 3-bed serviced apartments rather than multiple 1-bed units or hotel rooms. For example:

• A 2-bed serviced apartment in Shoreditch might cost £6,750/month (all inc) as opposed to 2x One Bedroom Apartments

• Two separate 1-bed units in the same area could total £11,000/month

Savings: £3,800/month, with shared utilities and communal space included.

C. Look Beyond Zone 1 (Without Compromising Access)

Premium areas like Mayfair, Knightsbridge, and Covent Garden carry prestige—but also price tags to match. Instead:

• Consider Zone 2 or 3 locations like Canary Wharf, Stratford, Clapham, or Camden Town, which still offer excellent transport links via the Tube, DLR, or Overground.

• You’ll often find modern, well-managed extended stay apartments in East London that provide the same comfort and amenities at up to 40% lower rates.

D. Use an Agency or Aggregator with Corporate Expertise

Experienced agents like Checkin Apartments specialise in serviced apartments for corporate travel and offer:

• Volume discounts for quality accommodation
• Flexible payment terms
• Reduced booking fees
• Pre-vetted properties that meet duty of care requirements

Booking through a specialist agency also reduces admin time and lowers the risk of poor fit or late changes, which can drive up costs if unmanaged. Unexpected add-ons—like cleaning fees or Wi-Fi surcharges—can inflate the budget by 10–20% if not caught early. Insist on a fully itemised quote when comparing options for corporate serviced apartments in London.

E. Request All-Inclusive Quotes to Avoid Extras

Always ensure the rate includes:

• Utilities (water, gas, electricity)
• Wi-Fi
• Weekly cleaning
• TV licences
• Council tax or service charges

Unexpected add-ons—like £50/week cleaning fees or Wi-Fi surcharges—can inflate the budget by 10–20% if not caught early. Insist on a fully itemised quote when comparing options for corporate serviced apartments in London.

F. Negotiate for Flexible Terms (When Booking Multiple Stays)

If you’re managing accommodation for several employees or departments throughout the year, consider negotiating:

• A preferred supplier agreement with tiered discounts
• Free upgrades (e.g., studio to 1-bed) during low occupancy periods
• Waived deposits or admin fees for repeat bookings
• Flexible cancellation clauses to protect against last-minute changes

Even a 5% negotiated discount can result in thousands of pounds saved per annum for companies with frequent travel needs.

G. Encourage Guests to Use Apartment Facilities

Remind travelling employees to use the kitchen, laundry, and workspace provided in the apartment. This reduces:

• Daily food per diems
• External laundry charges
• Co-working space rental

The ability to live and work efficiently in a serviced apartment is a cost-saving benefit that compounds over longer stays.

Need help finding serviced apartments in London?

At Checkin Apartments, we specialise in serviced accommodation in London tailored for business travellers, project teams, and relocating professionals. Our team can provide:

• Corporate pricing
• Flexible contract terms
• All-inclusive quotes
• Strategic advice on the best areas for your team

Get in touch for a tailored quote or request a callback today.