Director of The Apartment Service, Keris Hodge said the influx of government officials for the meetings will undoubtedly increase inner Sydney hotel occupancy levels.

“The economic benefits for Sydney are profound, and the corporate sector should be planning for their staff’s accommodation needs now to avoid hassles and disappointment in missing out closer to the major September meetings,” said Ms Hodge.

“Whilst there have been well over 30 key meetings scheduled from the start of this year the major finale will be the Ministerial Meeting, Economic Leaders Meeting and the Business Summit in early September.

“Corporate staff who need to be relocated from overseas or interstate usually like to be organised at least two months ahead so as to make the transition as smooth as possible.

“The Apartment Service has over three hundred furnished apartments in the CBD and surrounding suburbs suitable for executive, corporate and family stays from as little as one week to one year.

“All apartments are in prime locations in and around Sydney and Melbourne, many with stunning views.

“The Apartment Service has been operating since 1989 and our property managers pride themselves on first-class service, and adding a personal touch to our client’s stay.

“Relocating can sometimes be an anxious time and we ensure the first few nights are very comfortable by delivering baskets of fruit, bread and beverages to the apartment on request so the clients do not have the hassle of finding the local shop to pick up the basics.

“Our clients really appreciate the small thoughtful details which often can make a big difference.

“We also provide a 24/7 service with property managers attending to clients calls over the weekend which has been an integral factor in helping us become the leading short-stay accommodation specialists in News South Wales.

“Corporations should start planning their staff’s accommodation needs now in light of the upcoming APEC Summit from 3-9 September 2007.”

Director of The Apartment Service Pty Ltd, Keris Hodge, said the low vacancy rate was impacting the furnished rental accommodation market.

“The problem is due to a number of factors, but predominantly is resulting from the combination of increasing interest rates, and investors over the past few years shying away from bricks and mortar, in preference to the share market,” Ms Hodge said.

“We have a chronic shortage of a quality-furnished accommodation for our corporate clients.

“Whilst we have over 300 apartments in Sydney and Melbourne, the increasing demand from the corporate sector in need of furnished accommodation is outstripping supply.

“It is a good time to invest at the moment because of the potential for high rental returns.

“The Apartment Service can return an occupancy rate of over 90 per cent per annum for quality apartments in prime locations.

“A few years ago, investors would not have experienced such high occupancy rates but the demand is at an all time high.

“We are actively seeking apartment owners to them rent out and cash-in on the property drought.”

Director of The Apartment Service Pty Ltd, Keris Hodge said the worldwide boom was the result of an increased demand from the corporate sector needing quality accommodation for senior executives.

“Over the past five to ten years, corporate executives who travel interstate and globally are switching more and more to apartments as they realise that they offer additional benefits both personally and professionally, than the conventional hotel,” Keris Hodge said.

“Rental properties are being snapped up as soon as they are available. Only last week we listed a two bedroom property and the following day a corporate client checked in for three months with a view to staying longer.

“Apartments are more spacious than hotels and the inclusion of a kitchen, dining area and media room or office area, gives greater flexibility for meetings, entertaining clients or working from home.

“They are more desirable not only from the tenant’s point of view, but also from the corporation’s, who often foot the bill for their executives relocating or on secondment from interstate.

“Corporations can minimise their relocation expenses by booking apartments as opposed to hotels, as the leasing rates are significantly lower, with further reductions in the areas of meal allowances owing to the ability to self-cater. Cleaning costs can be reduced too, as many corporate tenants do not necessarily see the daily need, but appreciate the fact that it is available on request.

“Feedback from our corporate clients suggests that there is a growing desire to stay in accommodation that is more like a home than a hotel and corporate executives prefer to stay in an apartment with all the trappings of a home.

“The fact that many apartments are located in suburbs close to employment satellites, contributes to a feeling of homeliness.

  “We conduct regular inspections of our apartments and have our own internal star rating system to ensure our high standards are maintained to satisfy our corporate clients.

“We have a code of conduct policy in place to ensure the right corporate tenants are placed in the right apartment and that they are aware of the standards required in the residential building.

“I am currently trying to encourage the industry to implement a star rating system similar to the rating system being explored in the UK.

   “The Apartment Service was established in 1989, and is the most successful operator in serviced apartment and furnished accommodation industry with 300 properties in Sydney and Melbourne.

“We have built a database of thousands of corporate travellers, but right now we have to ensure we have enough apartments to meet the corporate demand, so we have launched a comprehensive marketing campaign to secure more rental properties from apartment owners.

“It is a great time for investors to buy an apartment as the rental returns are lucrative.”