A condo hotel is called as a condotel or hotel condo. It is a hybrid of a condominium and a hotel. The hotels are operated for commercial use but the units are individually owned by the owner. A condotel serves you all the facilities such as food, cleaning and telephone services.
Investment in a condotel is trending as well as considered the strangest form of property investment. If you buy a condotel then you will get benefit of four-star service and other facilities. It gives you benefits on vacations as you will be treated specially and you do not have to pay.
Is buying a condominium is a good investment?
Investing in a condominium hotel is a good investment because it is a lifestyle investment. The condotel is just like a second home or a vacation home for you. You get all the facilities and you can chill with your families every weekend.
What makes a condo a condotle?
The condominium is operated as a hotel which requires registration and your personal information. The owner has a facility to place their units in the rental programs of hotel just like another hotel rooms. A condo hotel is just like a project for the hotel and for approaching condotels in other areas, you can visit riviere new launch.
What are the cons for buying a condotel?
If you are making an investment in condotel also read some cons so that you can take a fair decision. The condotel require high maintenance fees and occupancy rates are not always good and appropriate. Also the owners of condotel generally face tax issues which are higher.
We have inspected all the fruitful and bitter ideas for buying a condotel. Make sure that you make a good investment for better lifestyle.