Condotel

Filed Under » ,
Dictionary Says

Definition of 'Condotel'

A condominium project that is operated as a hotel with a registration desk, cleaning service and more. The units are individually owned. Unit owners also have the option to place their unit in the hotels rental program where it is rented out like any other hotel room.
Investopedia Says

Investopedia explains 'Condotel'

There are pros and cons to condotel ownership. Pros include rental income to offset ownership expenses, a great vacation home, a cared-for home and potential price appreciation. On the down side, you might have to make a reservation for your own unit several days or weeks in advance. There are risks associated with all hotel ownership as well, such as occupancy rates that might be based on general economic conditions and potential destruction of the property.

Generally, condotels are sold as a second or third home.

Articles Of Interest

  1.

    Tips For The Prospective Landlord

    Investing in rental property can generate serious income, but there's more to it than collecting rent.

  2. Tax Deductions For Rental Property Owners

    Besides creating ongoing income and capital appreciation, real estate provides deductions that can reduce the income tax on your profits.

  3. Simple Ways To Invest In Real Estate

    Owning property isn't always easy, but there are plenty of perks. Find out how to buy in.

  4. Uncover The Next Real Estate Hot Spot

    Real estate land speculation is a way to get in on a hot investment before a boom hits.

  5. Timeshares: Dream Vacation Or Money Pit?

    This popular real estate product has its advantages, but don't expect to make a profit.

  6. Does Condo Life Suit You?

    Association fees and disputes with neighbors could spoil your move if you're unprepared.

  7. In Retirement, Snowbirds Leave Cold Weather Behind

    Rather than shivering away their golden years, retirees can fly south to winter in sunny locales.

  8. 6 Wealthy People Who Owned Private Islands

    Larry Ellison and Richard Branson are just two of the people who bought their own private islands.

  9. 5 Best Beach Towns To Buy Property In

    These locales offer vacation homeowners scenic views and plenty of amenities. The home prices can't be beat either.

  10. 3 Scenarios Where Downsizing Your Home Is Smart

    Downsizing your home can be a great step towards less financial stress, and leave you more time for family and travel
comments powered by Disqus
Marketplace
Hot Definitions

  1. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  2. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  3. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  4. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  5. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.

  6. Chartalism

    A non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=3fcc55cb050a92511070dcee91598945