Not your typical vacation home
What could be more perfect to own a luxury vacation home at a Zionist resort and get rental income every time you don’t use it? Apartment hotels are the newest trend owned by vacation homes. Live in it while you’re there; Hire it when you’re not.
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So how do hotel-owned apartments differ from a traditional vacation home or condominium? These are not your typical second homes. These are shared suites beautifully furnished in some of the most famous hotels and resorts around the country. The properties are usually large, high-rise, upscale hotels run by big names like Four Seasons, Ritz-Carlton, Sonesta, Starwood or Hilton. Prices range from $ 200,000 to over $ 1 million for premium assets.
Generate income to reduce mortgage costs
How do hotel owners find rentals? This is what makes the program so attractive. When landlords do not use their unit, it enters the hotel’s rental plan.
By utilizing name recognition, advertising, national affiliation, a hotel’s central reservation system and management expertise, unit owners typically receive a higher level of rental income than they would in a traditional vacation home. In addition, the hotel takes care of the tenants, as well as all the cleanliness and maintenance of the hotel’s units. Talk about the hassle!
The real appeal of apartment hotels is appreciation
While it is nice to get rental income from your vacation home, the more important factor from an investment point of view is its valuation. Apartment hotel units have been rated much faster than family homes and private homes in those areas.
Most apartment hotels are purchased directly from the developer. With limited inventory, apartment units in hotels moved at lightning speed. In fact, almost all apartment hotels are sold in early construction, long before anyone with one dirt flipped over. And, as is the case in any situation where supply far exceeds demand, apartment hotel owners have experienced tremendous appreciation in their units.
World famous resorts are attracting international attention
Most apartment hotels are in seasonal resorts. South Florida, especially Miami Beach & Fort.
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Lauderdale, it is one of the hottest markets in the country with world-renowned properties such as Fontaneblo, Ranch & # 39; Living & Trump International leading the way. Las Vegas and some of the Caribbean are also popular destinations in condominiums.
Who buys? The answer, at the forefront, is everyone. That is, investors and vacationers who recognize the potential of a vacation home’s revenue-generating potential. This appeal is not limited to U.S. buyers. The idea of condo hotels has been challenged internationally with Latin American and European buyers competing with Americans for the best properties.