During my vacation in May in Europe, I had my first experience of peer-to-peer accommodation, an important component of the now trendy sharing economy, and found it pretty cozy.

In Bordeaux, we stayed in a centuries-old apartment right at the center of the city, with convenient access to its tram system, while in Madrid, we chose a modern apartment near the Acacias metro station. They were all clean, tidy and comfortable, and provided us with virtually all the amenities that a hotel could offer.

What really lured us to stay at the privately-owned apartments was they are cheaper. For the Bordeaux room, the charge was 100 euros ($110) per day, and the rate for the Madrid apartment was almost the same, with parking fees included.