Renting does provide you with a long term stay option but with the surge in global cost of living, it is no more a viable option for short stays. This is the reason why people are doing away with traditional rentals and choosing other short-term accommodations such as short stay apartments. You will be surprised to know that it is cheaper to stay at a 5-star hotel in London than to rent a studio flat. But on the outset, it might seem like a dull comparison without providing you with the details.
Here we are going to provide detailed information on how short stay apartments differ from renting a place to stay.
It’s all about rates
One of the problems with renting a place in the UK is the freedom that landlords have to raise the rent at their will. While you may argue that you are protected by a fixed-term tenancy, it might protect you from unwanted rent hike, but that’s not permanent. At the end of the contract, a landlord is free to raise the rent as he sees fit. Renting can leave you financially much worse at the end of a year than you were in the beginning.
The short-terms stays, on the other hand, provide service apartments and save you money. For instance, if you plan to book short stay apartments, the VAT contributions drop from 20% to 4% from the 29th day onwards that implies that you will be saving a lot on the rent alone. And not to mention the fully furnished apartment you will have.
Flexibility to move
If you prefer a nomad’s life rather than affixing yourself at a particular location, renting is the obvious choice as you won’t want to be tied to an unwanted mortgage. You might have to move because of work or family commitments, but if you are constantly on the move, renting is better as moving out is easier. The burden of finding your replacement lies with the landlord. That being said, renting for short-term is difficult as landlords usually make you commit for six months to a year at least.
Short stay apartments offer a much better option and greater freedom. First, you don’t have to buy any furniture as these apartments come fully furnished. You don’t have you carry any furniture when you move in or move out. As service apartments fall under the category of fixed tenancy, you won’t have to keep any deposits or make long term commitments. There is no need for a notice period and paperwork is very less. You save on moving cost, plus you get excellent maintenance and support services at no added cost.
Freedom to choose locations
Renting has restrictions when you are on a small budget. Places at affluent areas have high rents; the proximity of a place to public places, hospitals, shops and schools increases the rent. If your rent budget is small, you are less likely to live centrally.
Serviced short stay apartments free you from such restrictions and you can choose to live at any location. From serene countryside to exclusive districts like London, Oxford Street and Knightsbridge you can live in affordable apartment. Another important distinction is the availability. As more and more people are trying to rent, it is getting increasingly difficult to rent comfortably. However, serviced apartments are readily available. This also helps you to bargain for an affordable stay at serviced apartments.
Renters always look for facilities and amenities that accompany a property before closing the deal. Good quality appliances, enough space, established transport links and parking space in case tenant owns a vehicle. A rent property that fulfils all the requirements is difficult to come by and hunting for such a property is not always straightforward.
In comparison, serviced apartments have all the amenities that are considered luxury in rented flats as standard features. Complimentary tea and coffee, free Wi-Fi and for small price you even get access to leisure facilities like spa, swimming pool and tennis court. This makes short stay apartments a better choice for short-term stays.
So, your decision to choose between renting and serviced apartments must be based on the factors we have mentioned above.