What are the disadvantages and investment risks of serviced apartments?

First of all, what is the nature of property rights? Business service hotel or office?

1. If it is an office building, there are legal risks in operating a serviced apartment, because it is impossible to apply for a "special permit", to operate legally, and to open a corresponding accommodation invoice. Once investigated, it will be closed.

2. If it is a hotel, then the serviced apartment is completely based on the operation of the hotel, but there will be an extra kitchen equipment area in the room.

Legal risk has already been said, operational risk. Nothing more than whether the return on investment is accurate, and nothing else is wrong.