Whether it’s for an investment or your very own residences, getting a condo hotel or condotel has its own benefits. Condo hotels can be easily maintained can be owned easier than typical condo units today. People would usually invest in a condo hotel as their vacation houses due to its numerous benefits and amenities.
Condo hotel is more luxurious than the usual condominium unit. With a condo hotel unit you can enjoy the comforts and premium of a 4-start hotel all to yourself since the unit is yours.
Fitness centers, fine dining restaurant, spas, and resort-level pools are just some of the amenities you can get from a condo hotel.
In line with that, here are 7 things to know if you are buying yourself a condo hotel:
What is a Condo Hotel?
The first, and the most important, thing that you would have to know is the difference of condo hotels from other residential spaces such as condominiums. Condo hotels, as their name suggests, are hybrids of a condominium and a hotel where you can buy a hotel unit and have it rented by others on a vacation.
Who are your Neighbors?
Another thing you would have to take note of is the kind of neighbors you have. Remember that you will be living in your unit sometimes and you have to treat it as if it is your own house. Ask around what kinds of neighbors you have to know if the unit is suitable for you.
What are the Amenities of the Establishment?
Amenities are hotels’ selling points and having a condo hotel with good features is definitely a big bonus. Check out if the amenities and services in your condo hotel would satisfy you before deciding to buy it.
How can you Benefit from Buying Condo Hotel?
Did you know that you could actually earn from your very own condo hotel? Being in a hotel, your unit can actually be open for accommodations and part of the revenue would go to you. This makes condo hotels very good investments.
What is the reputation of Condo Hotel’s Management?
You should also consider the hotel’s reputation in terms of management. Remember that you would be leaving your residential unit to them which is why ensuring that their service is top class should be done.
What are the Condo Hotel’s Rules?
Pets? Visitors? Each condo hotel has their own set of rules and it is your responsibility to study your condo hotel’s. The rules in your condo hotel can also heavily affect your decision so make sure to check it out.
Where are Condo Hotels Usually located?
Condo hotels are usually located in places where tourists flock. Much like regular hotels, condo hotels would also need sustainable market in order to keep in business. Find one place that you would want to spend your vacations in every time and try to look for condo hotels there.