Owning a holiday home is something many people dream about but concerns about maintaining it, renting it out when not using it and justifying the expense when it’s only to be used for a couple weeks every year keep them from making the dream a reality.
The solution to these problems is provided by an attractive type of holiday home ownership called condo hotels, also known as aparthotels or condotels. Condo hotels is a simple and hassle free way to own a luxurious second home.
The condo hotel concept
Condo hotels functions as a full-service upmarket hotel with the difference that the rooms and suites individually owned. Owners have access to all facilities and services just like hotel guests and, when not in residence, they can place their unit into the hotel’s rental program and share the revenue it generates.
Condo hotel owners receive a deed to their unit and can use their holiday home whenever they want. Like most real estate investments, the owner can also sell his condo hotel unit at any time and may make a profit on its appreciated value.
