Real Estate Accommodation

Definition of "Real Estate Accommodation"

Written by

Stacy Tilley

Remerica United Realty-Brighton

The definition of accommodation covers different meanings of the word, but they all express providing space, room, either physical or metaphorical. In other words, accommodation can be about an act or service performed for another person as a favor, having no expectation of receiving compensation or about offering someone something that they need, providing lodging, or food, or a seat on the bus. The term accommodation is used in different ways to express a similar idea but with different nuances. It can underline kindness from a person to ensure a more suitable situation for another person or merely a place to rest their head, free of charge or against a fee. The sense of allowing space and ensuring comfort is so embedded with the definition of accommodation and its meaning that even the word itself makes room for two m’s and two c’s in it.

Real Estate Accommodation, and what it is?

Regarding real estate accommodation, the segment of the term’s meaning that we’ll focus on, there are several major kinds of real estate accommodations to cover. Basically, however, the term stands for rooms, buildings, or other types of places where people can stay for a limited period of time or live. While not exactly a full synonym of house or housing, it does work similarly to them. The difference between them is the ownership of property, in some cases the period for granted lodging, or the right of use.

Real estate accommodation is primarily used for traveling purposes and most commonly in the tourism industry. It is, first and foremost, a property that is used for residential purposes. That is why the term is so broad even when we limit it to residential accommodations. 

Types of Real Estate Accommodation

As mentioned above, there are different types of accommodations in real estate that work as residential rental properties. We’ll try to offer an outline of the main types but also give examples within those types of accommodation.

• Tourism accommodation - probably the amplest sample of accommodations as it includes hotels, motels, resorts, vacation rentals, hostels, cottages, CouchSurfing services and homes of relatives that can host visitors within their home. Most of these are available for a nightly fee that will also accommodate a meal like bed & breakfast, but staying at a relative might only require the visitor to entertain their host, bring a gift, or simply behaving properly as to not offend the host.
• Leased accommodation is the type of real estate accommodation that weakens the line between an owned home and accommodation. Leased accommodations are, as the term states, a unit that is leased, rented, and offer accommodation to the renter for a determined period that can be lengthened.
• Student accommodation - most commonly located in close proximity to universities or colleges these types of accommodations are, as the name implies, for students only. Also known as student housing, they are charged and an added expense for students.