What is a condo-hotel?
A. Condo-hotels are like condos but operate like a hotel or motel. Located in popular tourist destinations, those in our area are on the beach. They allow people to have ownership in a vacation home that generates revenue to help offset expenses when the owner is not staying. Being designed for vacationing, square footage tends to be smaller than for traditional condos with the same number of bedrooms & bathrooms. The smallest are studios the size of a hotel room without separate living & sleeping areas. Unlike traditional condos, condo-hotels have onsite rental management, can be rented overnight, and offer maid service. Some, but not all, have hotel-like amenities such as restaurants and fitness centers. They typically contain restrictions on the time an owner can use it, whether the restriction is by virtue of zoning regulations or by rental management agreement, so they are not suitable for use as a primary residence. Financing typically requires 30% down payment or more. Like trad
A. Condo-hotels are like condos but operate like a hotel or motel. Located in popular tourist destinations, those in our area are on the beach. They allow people to have ownership in a vacation home that generates revenue to help offset expenses when the owner is not staying. Being designed for vacationing, square footage tends to be smaller than for traditional condos with the same number of bedrooms & bathrooms. The smallest are studios the size of a hotel room without separate living & sleeping areas. Unlike traditional condos, condo-hotels have onsite rental management, can be rented overnight, and offer maid service. Some, but not all, have hotel-like amenities such as restaurants and fitness centers. They typically contain restrictions on the time an owner can use it, whether the restriction is by virtue of zoning regulations or by rental management agreement, so they are not suitable for use as a primary residence. Like traditional condos, there is a Homeowners Association with
