Resort Condo Hotels As A Vacation Home

T he latest trend in               home consider a condo hotel.       vacation homes or second        Condo-Hotels Statistics show that  homes is the resort condo       the market for homes with rental   hotel. According to NAR,              income potential is nearly twice   investment homes accounted for a      the size of the market for         quarter of all home purchases in      vacation homes that are seldom     2004, and vacation home purchases     rented. The typical condo hotel    an additional 13 percent. Condo       produces higher levels of income   Hotels first started appearing in     than the traditional vacation      places like Miami Beach and Ft.       home (and less headaches), making  Lauderdale. They have increased       it all the more appealing to       tremendously in popularity and        buyers.                            can now be found in places like                                          Belize and Dubai.                     Here's how it works. You purchase                                        a condominium in price ranges      As the owner of a condo hotel         from as low as $400,000 to well    unit, you can keep your condo         over $2 million that is located    hotel as long as you’d like. Use      in a resort hotel. After           it as a get-away-from-it-all          purchasing it, you tell the hotel  vacation home if desired, all the     when you intend to stay in your    while building equity for when        condo and they reserve those       you want to sell it. Marketed as      dates for you. When you are not    a condominium located in a resort     there, your condo goes into a      hotel, these private residences       rental program, managed by the     offer a practical way to own a        hotel, and is rented out as a      vacation home, and offset some of     hotel room.                        the costs when you’re not there.                                                                               The beauty of this type of         If you’re seriously considering       arrangement is that you get a      buying a second home or vacation      beautiful condominium in a luxury  resort, but don’t have to worry       easy to see why so many people     about maintenance and upkeep when     looking for a vacation property    you’re not there. Another plus is     investment they can also enjoy,    because the hotel is renting out      when they want to, are now         your condo, your vacation home        looking at condo-hotels.           becomes an investment property.                                          Because hotel employees handle        These hotels are landscaped and    marketing and promotion, you          furnished with so much             don’t have to, and you get the        imagination that just touring      added benefit of having your          these hotels can be a vacation     condo marketed as part of a           activity in itself. There are      well-known and respected luxury       spas, restaurants, shopping and    hotel. Imagine the marketing          nightspots.                        power behind names such as                                               Ritz-Carlton and Trump! Having        Another popular option is the      your vacation condo promoted          fractional property. The original  under a name like that gives you      fractional format was started to   tremendous exposure.                  formalize the sharing of a single                                        family home within a destination   The condo hotel buyer sees the        resort area like Aspen or          benefit of owning a vacation          Telluride. Traditional fractions   property that also has the            now involve condominiums and       potential to produce income for       townhouses as well as single       them and build equity long term.      family homes. These fractional     This is one of the biggest            properties are usually sold in     appeals of condo-hotels because       one-fourth interests, also termed  the rental income can offset some     Quarter-shares. Quarter-share      of the costs of owning a vacation     owners receive one week of use     property. With the advantages         each month for a total of 13       they offer over time shares, it’s     weeks per year. Variations of the  Traditional Fractional include:       costs. Quality of the residence    Fifth-shares with a total of 10       and furnishings is in the 3 to     weeks per year and an assignment      4-star ranges. Service levels are  of use every fifth week, and;         at the 3-star level, if they are   Sixth-shares with 8 weeks of use      included in the program offering.  per year and allocation of time                                          every sixth week.                     Either type of property is an                                            excellent choice for a vacation    Within each traditional               home. So, when looking into        fractional format, the weeks are      buying a second home, check out    assigned through a rotational         these types of property as an      calendar to distribute the most       option.                            desirable times of the seasons in                                        a fair and equitable manner. The      This article may be distributed    owner may either use or give away     freely on your website and in      their weeks, or they can place        your ezines, as long as this       their unused time in a rental         entire article, copyright notice,  program and split the revenue         links and the resource box are     with the property manager after       unchanged.                         About the Author: Mary Hanna has traveled the world by Air and Ship while writing eBooks, Software Reviews and Practical Articles on Internet Marketing, Cruising, Gardening and Travel. Visit her websites at: http://www.CruiseTravelDirectory.com and http://www.WorldHotelPortal.com You can read more of her articles at http://www.ArticleBazaar.net Published At: www.Isnare.com