Living on a resort-style island provides many unique real estate opportunities including that of Resort Condos, also referred to as Condo Hotels or Condotels.
Condotels are a big part of our real estate market here on Fort Myers Beach and offer many resort-style amenities and features for both their owners and their guests. Below are some common questions and their answers that many individuals have regarding Condotels.
Q: What is a Condotel?
A: It is a condominium that has an *optional onsite rental management program that individual owners of each condo unit with the condominium, or planned condominium resort, subscribe. Additionally, there are typically more amenities available onsite at a condotel than at classic condo.
Q: What is the typical rental management commission and charges?
A: This varies depending on which condominium you are reviewing and which management company is managing a particular condotel. To get exact figures, you would need to review the condominium’s management contract or contact the rental management office for more details.
Q: What is the minimum rental period my unit would rent if I am with the *optional onsite management?
A: Typically, it is one (1) night. However, some condotels may have three (3) night minimum stays. It depends on the condotel, the location and its zoning, and the management company.
Q: how often can I use my condo unit if I am participating in the onsite rental program?
A: Typically, you will be able to use your condo unit two (2) weeks to one (1) month in-season (typically Nov. – April) and two (2) weeks to one (1) month out-of-season (typically May – Oct.). Some condotels may also allow you to use your condo at other available times, however, you would need to review the individual contracts and verify this information with the rental program management itself.
Q: What is the price of these resort-style condos?
A: Prices will greatly differ depending on the planned condominium resorts and even from the buildings residing within. However, **currently prices for a condotel unit are starting from the mid 170’s for a studio and raising to over $1,000,000 for a premier luxury two (2) or three (3) bedroom unit.
Q: Are these popular in the re-sale market?
A: Yes. These units are popular for owners that want professional and efficient quality luxury rental condos. Many buyers want a condo that rents out more frequently throughout the year, so condotel buildings work well for them if they elect to use the *optional onsite rental program.
Q: Where are the condotels located?
A: There are locations on Fort Myers Beach, and in many resort towns in coastal communities in Florida and other states across the nation that house condotels. In the Fort Myers Beach area you can find condotels from the North to the South end of the island and on both the Gulf of Mexico and the Estero Bay side of the island.
Q: What are the names of some of these resort-style buildings?
A: some locations, from the North end to the South end of Estero Island are as follows:
Do you have more questions about Resort Condos? Give us a call today and one of our experienced agents will answer any questions you may have!
Office: (239) 463-2999 | Toll-Free: (800) 741-2986
* Some buildings may have extra fees if you are not on their optional rental program. We are not affiliated or related to any party offering their onsite rental programs.
**December 2018
