What is a Condotel? Starr Mortgage Wants You to Know

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What is a Condotel? Starr Mortgage Wants You to Know

Just imagine—living the life of luxury in a Miami high-end hotel. But here’s the thing: you own it. Not a timeshare, not a rental, or not a short-term vacation stay—you actually own a piece of the property and can use the hotel room as you want! This is exactly what condotel (or condo-hotels) can offer you.

Starr Mortgage Company helps clients secure specialized loans for condotels throughout Florida. If you’re interested in what a condotel is and how you can purchase one in Miami, West Palm, or Fort Lauderdale, read on!

What is a Condotel?

A condotel is a mix of both a condominium and a hotel. Living in a hotel is nothing new, but it’s previously been reserved for the rich and famous who can afford the steep nightly price tag of a high-end hotel.

But over the last decades, condotels have started cropping up all over Florida, as documented in this article from 2005. Condo hotels are truly flexible real estate options, unlike a timeshare that has restrictions and is not actually owned by the person.

Here are the features of a condotel:

·   Operates as a hotel, with guests able to stay on a daily, weekly, or monthly basis.

·   Owned by an individual, with an individual deed for the room.

·   Can be managed independently or rented through services like VRBO, Airbnb, or a rental management program.

The benefit of owning a condotel is that the owner can access their own property as much as they like while renting it out at other times to earn income.

Condotels in Miami, West Palm, and Fort Lauderdale

Florida has many high-end and luxury condotels for sale. High-end Fort Lauderdale condotels include recognizable brands such as the Four Seasons, Ritz-Carlton, and Hilton hotel brands. These are known as comfortable, high-end, and luxurious hotels that make an excellent real estate investment.

There are other options for condo hotel financing throughout Florida, too. Miami condotels and West Palm condotels are also popular choices!

Specialized Condotel Loans through Starr Mortgage Company

If you’re interested in purchasing a condotel, there are specialized loan options available to you. At Starr Mortgage Company, we’ve worked with thousands of clients to help them get the best mortgage rate to secure the home or investment of their dreams. And it’s not different with condotels!

We’re here to let people know about this amazing opportunity so that they can own a piece of a luxury hotel for themselves. Condotels are the perfect solution for someone who wants a slice of luxury for themselves or is looking for a great real estate investment opportunity to earn some extra cash.No matter the reason, you need a good mortgage. We are Florida real estate specialists who know how to get the best rates for your dream real estate and Condotel Financing Florida. Come talk to us at Starr Mortgage Company so we can assess your situation and get you the best mortgage possible!