30 Mar 2006 07:37 am
Tips for Buying a Rental Unit In a Resort Vacation Community
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A condo hotel (or “condotel”) is a vacation community built by a developer or resort company. The developer owns some units and sells others to individuals. Both the developer’s condos and the individually owned ones are rented out through a rental program, and a management company maintains the properties. (In exchange, owners pay dues, a portion of rental revenue, or both.) The condo hotel gives investors the chance to own property and have access to an on-site property manager.
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