World Blog Philippines October Archive

Tips on Buying a Condotel as Purely an Investment Property

By cebucondoreview at 10/15/08 10:34

“Condotels,” also known as “condo hotels,” are typically condominiums in resort or famous tourist destinations. A condotel looks and feels to visitors like a hotel or resort, but in these resorts, individuals have the opportunity to purchase individual units. Unlike a timeshare, where buyers pay for limited use of a resort, buyers of a condotel own their residence outright and can stay in it, rent it out, or sell it according to their own wishes. In these communities, in-house management companies rent out the units on behalf of their owners in exchange for a percentage of the rental income. Condotel owners and their renters often have use of the resort’s amenities, such as concierge, fitness and spa services. Whether an owner can use the amenities while a renting guest is staying in the unit depends on the rules of the particular condotel development.

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