Condotel investment is mostly done by property investors. Condotel is considered to offer quite a tempting advantage. However, choosing this type of property investment is not as easy as one might imagine, for that you must be selective in choosing the condotel that you want to buy. Meanwhile, we recommend you to check out Canberra Link EC if you want to buy an excellent condo unit in Singapore.
Here are 3 important points that you should pay attention to when buying a condotel unit:
1. You must make the right rental guarantee scheme
You have to look at the rental guarantee scheme offer, as a condotel investor’s right. The warranty you get is usually limited in just a few years. It can also shrink over time. If the warranty period is exceeded, you will get a profit-sharing scheme or profit-sharing related to hotel occupancy rates.
You will get a number of profits, after deducting various costs related to fees for the hotel management, marketing, operational, and condotel maintenance. The income you can enjoy varies from 50:50 or 60:40. You can ask the Condotel manager further about this agreement. Additionally, perhaps you may want to check out Canberra Link EC for your investment.
2. Pay attention to the opportunity to stay in the condotel
Various rights as condotel investors may change over the journey. Most unit owners are ordinary developers who also play the role of condotel managers and silent investors.
Usually, the right to stay and enjoy facilities can be reduced over time. When you want to stay at the Condotel you also have to make a reservation. Of course, you cannot stay in your own unit when it’s not empty.
You will get services, like other guests staying at the condotel. Usually, you have the opportunity to stay at the condotel for 16-30 days each year. Of course, this facility is a pity if you miss such a chance with your partner or family. Apart from that, perhaps you want to buy Canberra Link condo units if you wish to increase your investment assets.
3. Find the right location
Choose a condotel that has a strategic location. It’s because if the location you choose is right, it is likely that there will be many tenants staying overnight.