Tuesday, June 20, 2006
Condo Hotels Are Not Your Parents’ Timeshare
As hybrid properties, condo hotels differ from timeshares in a number of ways. With timeshares, buyers pay only for the right to use the property for a set amount of time each year, usually a single week. They don’t own the title to the property, and they do not receive any rent revenue for the weeks they’re not in residence.
Condo hotel owners can use their condos when they want throughout the year, within the guidelines of the individual development timeshare owners cannot. They receive a percentage of any revenue their unit generates when they’re not there and the unit is rented out to hotel guests, not timeshare owners.
Timeshares traditionally diminish in value over time, rather than appreciate. While the history of condo hotel resales is rather limited, they are seen as an appreciating asset.
Timeshare is still more dominant in the real estate vacation world.
Condo hotel owners can use their condos when they want throughout the year, within the guidelines of the individual development timeshare owners cannot. They receive a percentage of any revenue their unit generates when they’re not there and the unit is rented out to hotel guests, not timeshare owners.
Timeshares traditionally diminish in value over time, rather than appreciate. While the history of condo hotel resales is rather limited, they are seen as an appreciating asset.
Timeshare is still more dominant in the real estate vacation world.
# posted by John @ 4:46 AM 
