Condo Hotels - buy your own hotel room!
Condo hotels are relatively unfamiliar in the UK but have been successfully operating in the United States since the 1970s. Condo hotels allow individuals to buy a hotel room or suite for personal use and rent it to hotel guests when not using it. The room is rented out via the hotel pooling system normally on a rotational basis; the hotel takes a share of the rental income and is responsible for the maintenance. You can also purchase Condo hotels off-plan.
Condo Hotel Orlando
Originally, many of the Condo hotels where located in Orlando. The popularity of Condo hotels have meant that they are now to be found in many loacations. A key factor when choosing a Condo hotel is to ensure that, just like any hotel, it is in a good location, has a good brand, strong management and staff, essential services and attractive amenities. If you expect to take a reasonable amount of personal use you should obliviously give thought to the type of room and associated facilities that you would like to use.
Investment property
Condo hotels have become increasingly popular amongst property investors who have been attracted by both the rental income and the potential for capital appreciation. This form of hassle-free property investment has the major benefit of being able, in some cases, to be placed within a Self Invested Personal Pension (SIPP). As with any SIPP investment it attracts the associated tax benefits. One of the qualifications for a Condo hotel room to qualify for a SIPP is that the owner cannot have any personal usage. On the other hand, with more nights available for paying guests the yield increases! Like any other freehold property, your condo hotel room can be sold.
