What is condotel

apartment hotel (CONDOTEL)
First of all, Condotel is a type of resort hotel. Condotel stands for two from Condo (Apartment) and Hotel (Hotel). Condotel is designed like a hotel but has its own owner and has a full living room, bedroom, kitchen, bathroom ... meet the needs of human activities.

 

Basically condotel condominiums operate as a regular hotel. The only difference is that each room is owned by an individual instead of a common owner.

To own a Condotel, you must pay a certain amount of money for the property (like buying or selling a property, or owning an apartment or other property). Therefore, the owner will be issued a certificate of ownership "pink book" as a normal apartment.

For Condotel, owners wont have to worried about many issues such as water leakage, customer complaints or other unnamed accidents. All of these issues will be dealt with by the professional operations team.

 

Property benefits of Condotel apartment

Rental income is shared with the asset management company. You do not have to pay a fee for this management. Instead, the management company takes a portion of the revenue from rental revenue to operate.

Some investors wondered, "Condotel apartment is allowed to transfer or buy again?" The answer is yes, Condotel is fully transferable as other types of properties.

Expedited Plus: In addition to earning a rental income, you are fully assured of the price of the property. Many Condotel projects, especially the famous Condotels, have experienced double the price increase over a relatively short period (18-24 months).

Another question of concern: "Would you like to own a Condotel for $ 1 billion or more, can I own and invest in Condotel?" is there.

With a profit sharing policy (on average between 60% and 85%) from the Condotel rental, apartment owners receive a much higher annual return on investment. Many investors also pledged to ensure the profitability of Condotel apartments (from 8 to 12% per year) from 5 to 10 years. Commitment to profitability allows investors to be completely assured of profit as well as the stability and security of investment in resort property.

The difference between the Condotel and the traditional hotel
Traditional hotels will usually have 1-2 rooms, which are widely designed. The advantage of traditional hotels is simple, if just pure relaxation, the choice of a hotel to sleep, is very convenient. Because it does not take too much space so the same rating (star number: 3 stars, 5 stars, ...) the hotel will be cheaper than hotel apartments. With Condotel, fully furnished rooms of a complete home, space will be extremely comfortable and comfortable.

Unlike conventional hotels, Condotel is managed and operated by reputable hotels manager. In our country, many real estate projects are managed by reputable hotels in the world such as The Ascott Limited, Best Western Premier, Wyndham Hotel Group ... So the owner can completely have a peace of mind about apartment capacity as well as annual profit.

Condotel apartments in the segment of resort and thrive in the city with potential tourism. Combined with the internal utility system and commitment from the management unit for maintenance and maintenance during the operation. Condotel apartments have attractive profit potential and the ability to increase prices compared to other models of real estate.


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