Orlando Condo-Hotel Investment Property
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Condo-Hotel
FAQ's :: What is a Condo Hotel?
- Condo
hotels convert a portion of its rooms into condominiums and make it
available for purchase to the public. The concept has been evident in
the United States for over 40 years, but regained momentum in Florida
in the late 1990s. Hotel companies discovered they could secure
necessary financing to construct new hotels through the sales of the
condominiums. The idea quickly became contagious and spread throughout
the country among hotel companies’. It’s a popular concept that’s
gaining national recognition among major hotel players.
How Does a Condo Hotel Operate?
- Once
a property is purchased in a condo hotel, owners can enjoy their
luxurious new condo and rent it through a rental program, which is
usually administered by a hotel management company. If the property is
rented, owners receive a percentage of the proceeds. In addition to
renting your property, the hotel management will also take care of
details such as the maintenance and cleaning of your condo.
Why Invest in a Condo Hotel?
- Most
condo hotels are located in either major metropolitan cities or top
vacation destinations, such as Orlando. This market in the past year
ranked in the top ten for increase in home prices, according to the
Office of Federal Housing Oversight.
Who Invests in Condo Hotels?
- Condo
hotels attract many different types of investors. Clients overseas,
enticed by the falling dollar and booming real estate markets, like
being able to secure their money in the US market and have their
property managed by the hotel. Retiring baby boomers
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