At Fidelity Home Group, we are Florida Condotel Mortgage Experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami.
A condotel is a condominium project that is operated as a hotel with a registration desk, cleaning service and more. The units are typically individually owned. Unit owners also have the option to place their unit in the hotel’s rental program where it is rented out like any other hotel room to paying guests.
Condotels are structured as condominium projects, with individual unit owners. The difference is that unit owners can arrange short-term rentals of their units to paying guests, which is further accommodated by full-service staff and amenities such as a check-in desk, housekeeping, and concierge services.