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The Lancaster Condotel Investment Concept in the Philippines |
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Written by SICO Property Investments
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Tuesday, 31 October 2006 |
"Condotels" (Condominium-Hotel) combines the convenience of a residential condo with the amenities of a hotel.
After signing with the hotel management team who will operate the project as a world class serviced apartment, unit owners in a "Condotel" join the rental pool. A serviced apartment is run just like a hotel but guests usually stay on a long term basis. For the tenant, this means savings since he is not charged a daily rate nor does he have to put up a security deposit like in a regular apartment. Aside from real estate appreciation, unit owners receive a steady monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because hotel management pool together total income of the entire hotel and distribute this to unit owners net of expense based upon unit floor area. This makes investments cost efficient and practically risk free.
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Last Updated ( Wednesday, 01 April 2009 )
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