What is a condo-hotel?
A typical condo-hotel combines traditional condo ownership with modified hotel amenities and services. Condos are sold to individuals who are free to use their property as a vacation home. Condo owners have the opportunity to place their units in the hotel management rental program. The property management company functions as a traditional hotel operator and manages the on-site rental program for each individual condo owner.
What are the benefits?
Condo owners enjoy turnkey vacation home services and hassle free property management services. Luxurious hotel amenities and services attract owners and guests alike.
How does the rental program work?
The property management company is responsible for costs associated with marketing, guest reservations, front desk services and housekeeping. Owners are responsible for condo furnishings, fixtures and equipment, utilities, real estate taxes, insurance and Condominium Association fees. The Condominium Association, through its management company, is responsible for the security and operating expenses of the amenities. Owners have the right to resell their condo at any time. All rental activities must be managed by the on-site property management company.