The travel and leisure industry has reached new heights. After the AIRBNB expansion during the past few years, the accommodation has changed the game rules tremendously. People don’t rent hotel rooms anymore. The mass consumer prefers the power to choose and move freely within the space he has paid for, although the comfort of being serviced 24/7 still stays.

Serviced Apartments

Serviced apartments are the closest to staying in a hotel but on a long-term basis. This type of service provides competitive rates, more space and in-room facilities, such as kitchen and relax corner that turn the simple hotel condo into a real home. Serviced apartments do benefit from the convenience of a hotel room while providing the privacy and the comfort of an owned house. That type of rental product is the perfect alternative to a long stay accommodation, an extended vacation or a business trip if your budget allows it.

Long Stay Apartments

Long stay accommodation is often sought by the so-called millennial nomads and jet-setters. Although a decent hotel room does provide the comfort of the 24/7 service, including room and laundry service, the modern consumer tends to prefer an alternative that will enable him to turn the space into a home for the period of time he has rented it out. For a fraction of the price of the regular hotel room. Typically, long stay accommodation is considered a long-term housing that can vary between 1 month and 1 year. It can also be referred as an annual rental if it exceeds the 1-year mark.

Annual Rentals

Depending on your plans, budget, and needs, another option that serves as a long stay accommodation is the annual rental. If you plan to stay at a place for up to a year or even more, probably the best accommodation solution is to find a space that meets your criteria and sign an annual contract for it. Some economies provide the option of paying month-by-month, while others require you to prepay the property for a couple months in advance.

The Difference Between Long Stay Apartments, Serviced Apartments & Annual Rentals

The three types of tenement do seem similar. There are a few differences that diversify accommodation types. While annual rentals allow you to reside within the space such as an owner will, serviced apartments do have some limitations in terms of reconstruction and redesign, inviting guests, hosting social events that might cause inconvenience to other tenants and more.

Although these same rules are likely to apply for all types of housing, the serviced apartments are treated mostly as hotel apartments, which does reflect on the freedom of movement of the tenants. Serviced apartments are also serviced (suggested by the name) by the hotel brand that operates within the building. Long stay accommodation and annual rentals can benefit from such service, but is considered a separate service and is typically not included in the final rental price.

The benefits of long-stay apartments over the serviced residences are numerous, while the lack of certain comfort assets, such as laundry service, cleaning service, fitness and wellness and more might be easily compensated through choosing a property that’s near to such types of facilities and does allow external subcontractor for homecare, gardening laundry and food preparation and delivery.