The popularity of U Condo Kaset Nawamin (u condo เกษตร, which is the term in Thai) as one of the investment options dates back to the 1970s. Condo hotels or residences sold at resorts/hotels are the most convenient scope of owning a vacation home at the place of your choice. The condo-hotels, to begin with, are quite simple. You can invest in a particular unit, put it into use for your long term/short term days, and rent the same thereafter when it is of no use.
Irrespective of its simplicity, there are crucial points of consideration.
How do Condo Hotels work?
Condo hotels have all of its or some of its rooms transformed into units that are available legally for sale. Owners are then allowed to decide to reside in the units of their desire. They are also allowed to add the unit to the room inventory of the hotel. When this takes place, the unit is made available for public rental. Through this, the owner can earn income.
The prime benefit is that the operator of the hotel will have all the aspects related to the condo managed. Owners don’t face any issues with the upkeep, and the hotel looks after everything: right from the marketing to the housekeeping followed by the bookings. The owners also have access to premium amenities that you would find in star-graded hotels like concierge, fine dining services followed by a spa.
Ensure To Do a Smart Investment
When narrowing down the list of shortlisted condo-hotel, you must ensure that the operator offers you with a brilliantly-managed condo. The condo must resemble a room that complements that branding and the theme of the hotel. The operator of the hotel must offer an exhaustive integrated service besides including cutting-edge booking technology and other modern amenities like housekeeping.
Look for a Smart Revenue Split
When choosing a condo-hotel room, the first and foremost consideration must be the location. Always opt for a popular business or tourist location and cross-check the area’s market stability. The second point of consideration must however be your assumed profit and usage, If in case you are unable to use your condo in the long run, the investment is worthless.
Condo hotels are looked upon as a lifestyle investment and are only worth buying if you wish to stay there for a longer duration. Apart from all of this, the condo hotels are available with a price per square foot value. Ensure that the price per square foot is competitive within the domain of condo hotels and it matches resorts/hotels with the same luxury rating.