What Makes a Condotel a Good Investment
Heres a explanation that What Makes a Condotel A Good Investment.
Pricing and Financial Benefits
- Sold in units similar to condominiums
- Priced lower than hotels even if they share the same location and offer the ame amenities
- Earns money through rentals even when not in use by the owner
- Safe investment that can be sold at a later time or used as a retirement home.
- Tax breaks for local investors buying units priced below PhP 5.5 Million
- Great business home, a retirement home or vacation home for the family.
- Offers lifestyle amenities not available to condominium owners.
- Situated in central business districts that are very accessible and highly urbanized
- Well-maintained and always clean even when owners are away.
- High maintained fees
- No guarantee of regular occupancy and rental income
- Changing occupancy rates based on real estate and economic conditions of the location
- Might need to constantly update interior decorations and furniture due to use of occupants
- Reservations to use your own unit should be made in advance to assure you will have a place to stay.