What is Orlando Condo Hotel?
Condo Hotel vs. Condo
Condo Hotels are Condos which are operated like a hotel. Sometimes what the condo really is can be confusing as they are categorized just like a regular condo in the MLS. The Condo Hotel has the same ownership as a traditional condo. The grounds and amenities are commonly owned just like a traditional condo, but everything else can be quite different.
The main differences with condo hotels are the hotel style luxury amenities. Typically Condo Hotels have resort style pools, spas, and even restaurants to name a few. The other main difference there is front desk check in with concierge services.
These condo hotels operate similar to a hotel in which you as the home owner can rent your unit out during times you are not utilizing it.
With so many second home owners purchasing in Orlando, the number of Condo Hotels have increased in the last decade as a nice option for home owners who want a vacation experience.
The main advantage to Orlando Condo Hotel is you will feel like your on vacation every day with the array of fancy amenities. A disadvantage to condo hotels can be that some complexes limit the number of days per year that a unit owner can occupy their own unit. So you may not be able to live there full-time, but more than likely can live there about 6 months each year.
Orlando Condo Hotel is rich with Amenities
- Multiple Resort Style Pools, kiddie pools, and Jacuzzi
- On-site Restaurants
- Lobby with on site front desk check in
- Concierge Services
- Complimentary Shuttle
- 2-3 miles from Orlando Famous Attractions
- Multi-Story Buildings
- Fully furnished, nicely appointed upgrades
- Room Service
- Game Rooms
- Organized Activities
- Sport and Fitness Facilities
- On-site Property Management
Buying an Orlando Condo Hotel
Buying a Orlando condo hotel comes with even more challenges when getting financing. Financing on regular condo’s is hard enough due to the lending environment with financing traditional condos today. Condo Hotels are rarely financed, so you can expect to pay cash for these condo hotels.
Orlando condo hotel units can be rented out as a short-term rental basis where you have the ability to receive income during the times you are not utilizing the property. It’s often difficult to project income and expenses, however, this information can be requested during the inspection phase per the contract.
Orlando condo hotel condo fees are higher than traditional condos because they simply have more features and amenities to maintain, and may cover more expenses. For example, some condo hotels will cover electric, telephone, and cable.
Most of the Orlando Condo Hotels are located around Orlando’s popular attractions. The Orange County Convention Center, Disney, Sea World, and Universal Studios. Read more on buying a Holiday Home in Kissimmee.
Popular Orlando Condo Hotels for Sale
No matter what type of property, Buyers Broker of Florida can explain all the differences. Let them find you the best property for your budget. Contact Buyers Broker of Florida if you are in the market for Central Florida home.