Ten Benefits of Owning a Condo Hotel by realestatetips4u


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                     Ten Benefits of Owning a Condo Hotel

You may have heard about the latest trend in vacation homes – condo hotels. Suddenly,
consumers have the ability to own a second home in a wonderful destination without any of the
hassles of ownership. To see why the condo hotel concept has so much appeal, consider
these benefits:

1. You can own a piece of a world-class property. Most condo hotels are of three- to five-star

2. You’ll have a vacation home in a fantastic destination. Most condo hotels are located in
premium locales – on the beach, near golf courses, next to ski slopes and in bustling
downtowns. Miami Beach, Fort Lauderdale, Orlando, Myrtle Beach, Las Vegas, Chicago and
the Bahamas are some of the most popular condo hotel locations.

3. Use your vacation home when you want. Flexibility in use means you always have a place
to “get away from it all.” When you’re not using your vacation home, place it in the rental

4. A professional management company will take care of all maintenance and operational
issues. Most condo hotels are managed by premier hospitality firms, often the biggest names
in the business, Ritz-Carlton, Trump International, Hilton, Starwood and Hyatt, to name a few.

5. You receive approximately half of the rent revenue your condo hotel unit generates when
you’re not using it. The management company takes care of renting your condo for you. The
revenue helps offset your costs of ownership. Plus, most management companies have
sophisticated reservation systems and invest in professional marketing, enabling them to keep
your unit rented far more than you likely could on your own.

6. The management company deals with the guests. Part of the hassle-free nature of condo
hotel ownership is that the management company handles everything regarding guests, from
attracting them to checking them in and out of the hotel and solving any problems that arise
during their stay.

7. You’ll have access to luxury hotel services. Unlike a single-family home, in a condo hotel
vacation home, you can take advantage of all the perks of the hotel such as a brand-name spa
like Canyon Ranch or Elizabeth Arden Red Door, concierge, room service, fitness facilities,
pool, fine dining restaurant and more.

8. Share your condo hotel unit with family and friends. The unit is yours, so you decide how
it’s used. Want to lend it to your Aunt Betty and Uncle Lou? No problem.

9. Purchase your condo hotel unit with traditional financing or even as part of a 1031
exchange. A variety of loans are available to invest in condo hotels. Condo hotels also qualify
for tax-deferring strategies like 1031 exchanges.

10. Realize appreciation when you resell your condo hotel. Like traditional real estate, over

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                     Discover 101 Amazing Real Estate Tips and Secrets

time your condo hotel unit has potential to appreciate. Because of its quality location,
professional hotel management and on-site luxury amenities, the value of your vacation home
should increase. You keep the profits when you sell.

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