A condotel is different from other condos.
Units in a condotel are part of a building or complex is operated as a hotel.
Units are owned by individual owners who can choose to use the hotel’s rental program through which the units are rented as to hotel guests.
Since the condo complex is operated as a hotel there are often more services available on site.
Such services might include a check-in desk, housekeeping staff, and a concierge. There are often amenities such as fitness facilities, pools, and business centers.
The benefits of a condotel include the amenities, services, and ease of producing rental income.
The downsides can be higher condo fees and a higher management fee or split of rental proceeds.
A unit in a condotel can be a great option if you enjoy staying in hotels near the resorts. They are a good way to invest in an area where your visit often while making renting your property simple.
Management fees or profit split is usually higher in condotels. Monthly HOA fee also tend to be more than fees associated with traditional condos. If ease of use and the ameneties aren’t worth the extra cost to you, a condotel might not be the right property for you.
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