Often confused with BnBs, guest rooms are subject to the signing of a lease: they involve the payment of a rent. This feature turns the guest rooms into ideal candidates for long stays, especially for students who need a second home close to their studies.
As extraordinary as it may sound, the guest room is... a guest room at your hosts' house. You will be in close contact and share some space with them, like the living room, the dining room, the kitchen, but fear not, you will have your private quarters as well (such as your bedroom, and depending on the house configuration, a toilet and a bathroom).
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The name "Guest room" is very broad and less defined legally than the Bed & Breakfasts. You can find a guest room in an apartment, in a small town house, or even in a 15th century mansion or a castle (even if it is bound to be very rare!).
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Guest rooms are not limited like BnBs: they can be more than 5 per house, and allow a capacity greater than 15 people. Similarly, the benefits and services rendered are different: for a guest room, your host is not required to provide you with linens, towels, and other services such as housekeeping and meals. However most houses with guest rooms include now furniture and sheets.
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As mentioned above, you can not expect your host to cook you breakfast and other meals. Living in a guest room for a time is living having roomates: you will be autonomous when it comes to buying, preparing or cooking your food.
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Enjoy the local knowledge of your host and ask them about informations and tips on things to see and do around their accommodation. Who knows, they may even be able to lend you equipment during your stay (bike, ski, etc.).
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You understood it, guest rooms are ideal to settle in a city for a while. They will enable you to enjoy the wealth of local knowledge provided by your hosts as well as their friendly presence.