A condo hotel investment is a way to own vacation property without the hassle incurred with other property ownership. Condo hotel property has become very popular in Cebu City and Boracay Island in recent years. This is a top vacation spot in the Philippines and there is high demand for rentals. With a condo hotel, you will get more money for rentals than you would with many other types of property.
Condo hotel units are larger in Boracay Island and Cebu City than in most large cities in the Philippines such as Bohol and Baguio. In Boracay Island, Condo Hotel unit areas range are between 33 square meters to 82 square meters and prices are between 111,111 Dollars to 222,222 Dollars.
How a Condo Hotel Investment Works
Condo hotels are luxury properties with high yield income and they are often run by large hotel companies. They have the amenities and services that are typical of five star hotels. Most have spas, pools, fine dining, laundry service and room service.
You purchase the condo and use it when you want to have vacation in Boracay Island and Cebu City. The condo hotel has a rental program. The company takes care of renting, maintenance and cleaning. They also operate the services offered by the hotel. In return, the company keeps a percentage of the rental fees.
The best deals can be found prior to the beginning of construction and in the very early stages of construction. After this phase, the cost of ownership increases dramatically. Some tend to sell out fast, so you need to get in early to get the best price and be sure to get a space in the hotel of your choice. This is especially true in areas with a high rate of tourism, such as Boracay Island and Cebu City in the Philippines.
Who Pays What in a Condo Hotel Investment?
There are a variety of expenses involved in a condo hotel. Some of these fees are paid by the owner and others are paid by the operator of the hotel. The owner pays all the taxes and insurance on the unit. Any improvements that are needed, or wanted in the unit are the responsibility of the owner as well. If you need new tile in the bathroom, you will be responsible for paying the bill for the installation.
The operator pays the operating expenses of the hotel. This includes all administrative costs and marketing, such as advertising the units for rental. In addition, the costs incurred for housekeeping are paid by the operator. This includes the salary of the cleaning personnel, supplies and other equipment needed to keep the hotel in good condition.
When you purchase the property, you will need to sign a Management and Profit Sharing Agreement. This should stipulate the amount of money you get and the company gets for rental on the condo. The agreement should spell out when you plan to use your condo. How much time will you be staying there? If you want to add more time, how much notice do you need to give the company? This is important because if the unit is already rented, you may not be able to stay there.
In Boracay Island, Crown Regency Boracay Condo Hotel will offer you annual 52 FREE Night Stays in any Crown Regency Hotels with a 5 Year Buy-Back Guarantee and with a conservatitive yield 17%!
In Cebu City, Crown Regency Studio Condo Hotel will offer you annual 30 FREE Night Staysin any Crown Regency Hotels with a Conservative 7 Year Return of Investment!
For Investment Proposal and Reservations, please contact:
Daisy Guo
Fuente Triangle Realty Development Corp.
International Marketing Assistant
E-mail: ftrdcmarketing@gmail.com or info@cebucondoreview.co.cc
Cell: (+63917) 462-1174
Skype & Yahoo! Messenger: daisy_guo_onlinemarketing
My website: http://www.cebucondoreview.co.cc
My wordpress: http://daisyguoonlinemarketing.wordpress.com
Filed under: Condo Hotel | Tagged: administrative costs, benefits of condo hotel investment, Boracay Island, cebu city, Condo hotel property, condo hotelinvestment, luxury properties, Management and Profit Sharing Agreement, property ownership, rental on the condo hotel
