What is Condotel?

Condotel is a mix between the apartment and the hotel. It allows the buyer to buy real estate, but to rent this property as a holiday or hotel when they do not use it. In this way, Condotel actually earns money for the property owner when the owner does not use it.

To understand the Condotel concept, it is important to understand how the property works. Most of them stayed at the hotel. The hotel owner, usually one person or company, rents rooms in the hotel for a fee. People rarely live in these full -time rooms.

Meanwhile, Condos is generally sold as homes or second homes. Buying an apartment is like buying a house. The owner does not pay any rent. The intention of Condotel is to mix these two forms of real estate to create something that is the best of both worlds. They have all the luxury of the hotel, but the buyer is directly directly.

The concept of Condotel began as a way to finance new hotels. Hotel building is expensive. Instead of firstThey built a hotel and then allowed people to rent rooms, Condotel owners sell hotel rooms and suite, as if they were houses in the development of housing. Hotel companies receive money to finance their building and the buyers get all the luxury of the hotel without having to move at the end of the week.

Condotel ownership gives the buyer all the benefits of staying at the hotel of the same brand. The buyer will therefore acquire room service, service service and reception. It also has the use of all hotel equipment such as swimming pool and fitness center.

Another advantage of Condotel ownership is that the room can be rented. If the owner plans to be outside the country for a week or two, the hotel can rent the owner's room for normal market rates. In exchange for reservation and space management, when the owner is gone, the hotel retains 20 to 40 percent of rental profits.

There are some disadvantages for this kind of investment. No one can guarantee that the owner will earn money through the rental process. AfterAcid room, paying fees for maintenance and providing a hotel with a percentage of rental, there may be little money left. Also, local laws can forbid the owner to live in a hotel for more than a certain number of days each year.