Know About the Rise of Rent to Serviced Accommodation in Leeds

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With a fast-growing economy and a great tourist destination, the demand for rented accommodation in Leeds is at an all-time high. Don’t believe us?

As per a study, Leeds’ economy is the most diverse of the UK’s major employment hubs. Its private sector job growth has been the quickest of any UK city, and its public-to-private sector employment ratio is the greatest of all the UK’s major cities.

Leeds West Indian Carnival is the third-largest West Indian Carnival in the UK and the oldest in Western Europe. Over two days, it draws some 100,000 individuals to the neighborhoods of Harehills and Chapeltown. 

Every year in Bramham Park, the Leeds Festival takes place, showcasing several of the top names in indie and rock music. This means that Leeds witnesses a lot of tourists around the year. 

Leeds is an administrative hub of West Yorkshire, England’s City of Leeds area. After London and Birmingham, it is the third-largest city in England in terms of population.

Therefore, investing in serviced accommodation in Leeds can help you get great returns. So, if you are willing to know how to do serviced accommodation, the benefits of investing in serviced apartments in Leeds, UK, and more, continue reading. 

Key Takeaways:

• Investing in Leeds real estate can get you a huge return on investments. 
• Getting acquainted with the laws of serviced apartments in Leeds is important. 
• The investors must create a comprehensive contract before renting their property to short-term renters. 

Serviced Apartments in Leeds

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We all know that investing in serviced accommodation offers a great return on investment. However, it has more advantages than one, including better tenant profiles, simpler exit strategies, and the assurance that your property will remain in great condition.

If you want to invest in serviced apartments, Leeds is a great option for the following reasons: 

1. Booming rental market

Leeds witnessed a real estate boom in the 1980s. Despite the seeming higher property prices implied by the area’s superior quality of life, they are lower than the national average. Leeds is a good investment place because property prices have been rising steadily.

This shows that the city continually regenerates diverse locations in or around the city center to build more homes. Because Leeds is widely regarded as a student city, rental prices are also quite stable. Real estate owners can conveniently rent their apartments to young professionals or students.

2. Leeds attracts a lot of tourists 

With its abundance of bars, pubs, and clubs, Leeds is the northern region’s nightlife capital. Visitors are drawn to the city by its shopping opportunities, cultural offerings like opera, theatre, ballet, and rapidly expanding food and beverage sector.

As the tourists continue to pour in, the demand for short-stay serviced apartments in Leeds is skyrocketing. Therefore, investing in a serviced apartment in Leeds is lucrative. 

3. Thriving business  

Leeds has a stable labour force because of a regional economy supported by countless businesses and workers. Employment in Leeds is expected to grow quicker than in most other major UK cities. 

Leeds, a hub for professional services, is a world leader in high-value industries like technology, healthcare, and manufacturing. 

With the recently established Leeds Studios in Holbeck, a top-notch production facility that will place Leeds at the frontline of the UK’s film and TV sectors, Leeds is gaining a reputation as one of the UK’s top creative cities with a flourishing media business.

Therefore, Leeds is one of the UK’s largest business hubs, making it among the most desirable locations for real estate investments.

Serviced Accommodation & Aparthotels in Leeds

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Serviced apartments in Leeds offer amenities similar to those of an apartment hotel but with more room, comfort, and privacy. They have living and sleeping areas that are larger than most standard rooms, private cooking provisions, and either a kitchenette or a full-size kitchen with a washing machine and dishwasher. 

The renters often have access to gyms, restaurants, meeting spaces, concierges, and other hotel-like services. As rent to serviced accommodation in the UK picks up pace, here are certain serviced accommodation regulations landlords must keep in mind: 

1. Insurance 

You must confirm that the appropriate insurance covers you. Do thorough research and have the right policies in place. Purchase customized serviced accommodation insurance.

2. Rules instated by local authorities 

Many local authorities are attempting to limit the number of serviced apartments in their communities. As a result, there are no limitations on the number of days for renting a house.

The 90-day rule, which certain local authorities have in place, forbids renting a property for more than 90 days. Find out the laws in your neighbourhood by doing some research.

Short Stay Apartments Leeds

Renting out apartments in Leeds for a short term has several benefits. However, you need a rent-to-serviced accommodation contract to protect your rights as a landlord. 

Before check-in, hotel guests are informed of the rules and regulations. Serviced accommodation shouldn’t be any different. The document should outline the obligations visitors must agree to for staying at your property. 

You require an agreement to lay out the terms of the bookings. Several agencies in Leeds can help you create the ideal contract.  

Invest in the Best Properties in Leeds with Pluxa Property

We at Pluxa Property provide an array of services, including finding the right property deal, sourcing properties, helping clients establish serviced accommodation and rent to serviced accommodation frameworks, selling houses quickly, etc. 
We can assist you in many ways, whether it’s regarding how to invest in property in the UK, choosing the right investment strategies without any prior experience, and more. Therefore, get in touch with us to get the best deals on properties in Leeds and other parts of the UK.

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