Its the newest buzzword among real estate investors. Condo hotels are gaining attention as the ideal solution for people who want a hassle-free, luxury vacation home that generates revenue and has appreciation potential.
Not Your Daddys Timeshare
Condo hotels are not the timeshares of yesterday. Buyers have full ownership of their condo hotel unit and are not restricted to a one- or two-week stay or a particular week of the year. In most cases they can stay 30-60 days per year in any configuration of time they choose. Plus, they can elect to place their unit into the hotel’s rental management program when theyre not using it and share in the revenue it generates.
Hassle-free Ownership
The advantage for condo hotel owners who choose to rent their units through the hotel program is they avoid the responsibilities that come with being a landlord. Their vacation home is available for their use with a simple reservation anytime they want to visit. They receive revenue throughout the year that helps offset the expense of owning the home. And finally, they can sell their condo hotel unit whenever they wish and keep the profit derived from...
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