apartment therapy changing the world, one room at a time

I'm confused. It's different from a 4-week rental ... how?

It's the difference between renting and owning. In this case, you are not at the whim of a landlord, but you do assume some of the liabilities of ownership- collectively. The barrier to entry is higher because of the price tag, and it is a little harder to divest yourself of the place when you want to move on- however, you can possibly recoup your costs by selling it in the future (or turn a profit, or lose some of your investment, depending on the market).

Thanks, Isa. Are there traditional aspects like a deed? A mortgage? Are you buying a piece of the house from someone else, from a bank, or from ...?

Shani-o, the article does a decent job of explaining the basics. If you want more information I'd look at the link to Paris Pied-a-Terres.

I did look at the Pied-a-Terres website but missed the NYT link... thanks for pointing that out, aaron.

I think they are very nutty. Far, far more trouble than it's worth. And for such a small place! I'm sure they could find great rentals in Paris that are much larger or much more "whatever" that would take them many years forward before they spent the entirety of that $112,000.

Maybe it's just me...I'm staying at my fifth apartment in Copenhagen soon, and this year's apartment is in another area I have not stayed at, which is one of the best areas, it's a large 2 bedroom, looks great (I'm picky), and it's $142 a night. And, I get to have the enjoyment of staying in different areas and in different style apartments. Unlike hotels, there are wonderful values to be found by renting an apartment short term.

Is "fractional ownership" and nicer way to say timeshare? Sort of like pre-owned instead of used?

Dumb, dumb, dumb, dumb. Perfect example of people with more money than brains. It's all of the disadvantages of owning with none of the advantages. Why bother owning if you have to deal with other people's tastes and furnishings? And you can't go whenever you like. And it's $112K plus ??? in monthly/yearly maintenance costs. Considering their age, $112K could buy them many, many months in Paris staying at a decent hotel without the hassle of dealing with other owners and having the flexibility of coming and going whenever they like. There's a French entrepeneur right now laughing his derriere off at zee stoopide Americans.

Plus, the internet lets you look at rentals before you commit to them.

We live in New Hampshire and rent an apartment in Germany to spend Autumn each year. It's actually a hotel on the same block as where my husband grew up and lived until he relocated to America in 2001. Our flat is a 2 room suite with high speed wireless, private bath, seating area, fridge, closet space, balcony with outside seating, TV, King size bed, huge windows, gorgeous view, and it's on the 4th floor so we can walk it for exercise or take the elevator. A little market is across the street, our family is within a block or two away, the subway is on the same block (3 stops to the city center), and each Wednesday there is a farmer's market in the nearby park. The city forest is 3 blocks away where there are bike paths, a petting zoo for kids, playgrounds galore, bird sanctuary, large zoo, ice cream kiosks and beer gardens throughout, etc. Nearby to where we stay we have shops and tons of things to do. It's ideal. Lots of places to eat, and with mom and grandma a few blocks away, we use mom's kitchen while she's at work during the day to prepare meals if we get tired of eating out (which after a few weeks, we do).

For us, staying in a hotel suite, which is really like staying in an NYC-sized apartment (it's about 500 sq ft) works perfectly. And it's not nearly $112,000 either! We could do this for 5 more years and not spend that.

And best of all, they do our laundry, fold it, deliver our mail, and prepare a huge feast for breakfast each day that we can either have downstairs in the cafe or upstairs in bed. Whenever I've stayed long term anywhere in Europe, I always rented an apartment or suite and negotiated the rate with the owner. I even do this when I've spent time in NYC in the past. There's a service I go through down there and they sublet flats for a few weeks up to 6 months at a time.

These days, with the inflated price of hotels (it's NUTS), you are better off renting an apartment when you go away for more than 2 weeks. Even in L.A., I was recently introduced to a man that has a lovely home in the hills that he sublets. I nearly took it this month, but we decided that since we'll be in Germany soon, we should go to L.A. next year instead. But I'll be subletting there when I do. I can rent an apartment for a month for the price of staying in a hotel for 2 weeks. Why not?

-Holly

Is "fractional ownership" and nicer way to say timeshare?

Yes.

Renting for a month would give you a chance to really experience different parts of Paris. Or a good hotel as Holly suggests sounds great.

And, to go one step further...there are, at least in Copenhagen, and I'm sure in other cities, services for apartment rentals that offer daily cleaning and breakfast in the apartment, including a laundry service if there is not a washer/dryer in the apartment.

The first four times in Copenhagen, we had this service in the apartments we rented. This time around, we're going through a different agency. I'm actually not sure if it's included...I really loved what I saw in this place, I didn't care. I really enjoy feeling like a local with an apartment. It's an entirely different experience. It's about the refrigerator too, I swear...to be able to pop into a market while you're out and get a few things, or flowers, gets you into normal places where you experience another little piece of local life.

A large enough suite, at a negotiated rate, like Holly stays in, is another good solution and I think the key is that it be large enough to just hang out in, definitely an important factor when staying any length of time. To have total services and accessible staff is a bonus!

Actually, there are many apartment rental services that cater to business people for short term visits. Worth seeking those out too. I can't wait to go now!