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Investing in a Mexican Condo Hotel

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Investing in a Mexican Condo Hotel Investing in a Mexican Condo Hotel Mexico Condo Hotels The Advantage of Professional, International Promotion The developer of a high-quality, luxury resort-style complex once pointed out the importance of promotion for people renting out their property; you could have the most beautiful unit an amazing development for a super rental price, but if no one knows about it, it could sit there empty. This points to one of the key advantages to buying a condo for sale in a hotel or resort setting (generally called a condo-hotel); professional hotel service providers will often be contracted not only to provide the best service to vacationers, but also to promote the condos as a part of the hotel as a whole to these same international vacationers. This fact points to a distinct advantage in buying in a condo-hotel as a real estate investment. Experienced and successful hotel service providers will already have established networks to bring vacationers directly to the rental units. For this reason, it is also important to enquire about this point. If it is a resale, a buyer can enquire about occupancy rates; with a new development, if the rental service is through an established provider, the occupancy history of the provider can also be enquired. In other cases, simply evaluating the rental strategy can be helpful. In most cases, having a professional rental strategy is advantageous for those who do not have experience in managing a rental properties; this is especially true for those who are buying to enjoy a vacation property with the benefit of getting a worry-free income from it. Condo Hotels: Full Titled Ownership If you are searching for a condo for sale for the first time, all the different ownership options might be a little confusing. One option which often needs clarification is that of a condo hotel. A condo hotel should not be confused with time shares. One of the points most important to understand is that Condo hotels offer full, titled ownership of condominium units. In Mexico, ownership of condos is much like that in the U.S. or Canada; individual buyers own a given unit, and all the owners collectively own the common areas, infrastructure, etc., which could include a lobby, a pool, and a maintenance area, for example. Monthly fees (home owner association fees or HOA) from owners cover maintenance of these areas. Monthly fees can vary, as can the services included in these fees. Services can be simple maintenance of the building, or can include gardening for the common area, pool cleaning, or any other service necessary to maintain the functionality, quality and image of the condominium as a whole. Other standard services include security personnel or a receptionist. However, from there any number of services can be included. The concept of a condo hotel is basically a condominium which includes all features necessary to function as a hotel; this may be as simple as a reception area and a pool with a lounge, or could include large green areas with tennis courts and golf-cart pathways – in short, a full resort setting. The difference is that your condo complex will be geared towards offering hotel services to vacationers with the purpose of generating income for you. For this very reason, these condo hotels often offer a more accessible way to buy a property in Mexico, balancing the expense of owning a vacation property with an income. Usially the hotel services include the rental pool, room cleaning; marketing other services. The point is that you are the full owner of your deeded property, and along with the other owners share the common areas. Your ownership, just like in any condominium, will be fully titled with a deed in the public registry. It will be yours to use, generate income with, or sell. In short, you are the owner; it is not fractional, shared or time share. Enjoying Profit from your Condo While buying a condo in Mexico is seen as a well-deserved extra in life – a vacation property or a home for retirement – it's good for buyers to keep in mind that the same condo can double as a profitable investment, especially if you buy in a condo hotel setting. This fact makes it easier for many Americans and Canadians to consider the possibility of a property in Mexico; while spending money on the property is entirely feasible, it becomes that much more justifiable, attractive and manageable when that same property covers its own expenses, or even brings an annual profit, instead of presenting you with an additional annual expense. The key to enjoying a profit from your vacation property is to have a well-organized plan of attack to balance personal vacation enjoyment, property management for vacationers, and a marketing strategy. A condo-hotel, especially one in a resort setting, makes the combination of these three factors easiest for you. Excellent examples are condos in upscale resorts. Some features to consider which will maximize your enjoyment and facilitate your profit are: Rental pool organization – While well laid-out regulations about how you choose your personal usage time and designate rental time can actually help to take your mind off of your property, and, in the end, allow you to enjoy your property more fully, knowing that the rental side is completely taken care of. Most systems include a good deal of flexibility in balancing these two sides. Hotel management company – This point is important, because when you are on your own vacations, this service will determine the quality of your stay. It is also the point which will build the reputation among potential clients and generate returning clients. Marketing strategy – It's worth investigating what rental strategy your condo hotel is using, as well as historic occupancy rates. Knowing this ahead of time will let you know what you can expect in terms of rental income. Some companies offer a guaranteed return. It is also good to consider the services offered in the hotel or resort where you're buying; if you have a family, for example, you may want a kids club or play area. For the side of profit, consider how the services compare to current market trends in the area; i.e. what do other vacationers want in a resort? Some items to consider are: Restaurants Spa Beach club Sports/exercise facilities Transportation – on-site and to and from town Beachfront access Not all of these may be necessary depending on the location and target market, but remember that you're buying for your own vacationing enjoyment as well! We have the tools to help you with your Real Estate needs. Resort Services in Your Condo Hotel A condo hotel provides full, titled condo ownership in a hotel or resort setting, offering an ideal balance between personal enjoyment and income from rentals to other vacationers. Whether you are using the condo for family vacations or as a retirement property, there are a series of services which can be found. Items such as reception, maintenance and cleaning are the basics. The following is a fairly exhaustive list of "extras". You may not need all of them, but you can use this list to consider which ones are most appealing, and to find a condo hotel most appropriate for you. Being directly on the beach is nice, but some also provide short Beachfront Access walking access or easy transportation to a beach access. We're not always in the mood for the beach, and having large Pools pools with lounge areas is a nice touch. Some condo resorts have infinity pools at the beachfront. Swim-up bars It's always nice to sip a drink while relaxing in the pool. Restaurants On-site restaurants and bars make it easy to enjoy high-quality meals and good drinks without really going out. Some include and Bars several restaurants and a variety of food styles. There's no better way to enjoy a beach, and it's nice to have the Beach Club club either on-site, or with easy access for condo owners. This is often a purely visual point, but it can make a difference for Green Areas some people's level of relaxation. Even if you're retired, you may bring the grand kids with you Kids Club some time. Also, it's a good feature for attracting vacationers you will be renting your property to. Transportation It's nice not to have to think about having a car or getting taxis. Even if you have everything on-site, sometimes you'll want to to town head downtown for a little change. If it's a larger resort complex, it's easier if you can call up Transportation reception, and have a golf cart take you and drop you off at the on site beach or your favorite restaurant. Most are pleasant enough for walking, but the point is to have options. If you are going to have a car, it makes parking and security hassle Valet parking free. Most of Mexico's vacation areas offer a wide variety of things to do and places to see, ranging from golf courses and movie Concierge theaters, to museums and ancient pyramids. It's nice to have someone who knows give you a hand in choosing the right place, and letting you know how to get there. Spa Massages, saunas, facials… just another way of saying complete relaxation. For some people exercise is a part of relaxation, and on-site Sports facilities facilities make it much, much easier to get around exercising.
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