Condo hotels have become quite available throughout various regions in Mexico,
the options that this Mexico Condo investment offers to you the buyer/investor are focused
mainly around the issues of property management and property amenities available.
The Mexico Condo, has a definition in the Wikipedia as:
http://en.wikipedia.org/wiki/Condo
The “specified part of the real estate” as oultined in the definition would refer to your individual private living area,
including your parking spaces and storage rooms for example These private areas are listed
out in details on the titles Rights and ownership of the common areas such as the play room, the
pools, the garden area, and elevators are jointly owned by all of the other condo owners, and these are administered by the association of owners
The Mexico Condo Hotel, following through with the example above and again using the
Wikipedia sources states the following:
http://en.wikipedia.org/wiki/Condohotel
What is important to note in the definition from Wikipedia are the following,
a)Each condo unit is fully and individually owned by the buyer/investor.
b) the buyer/investor can choose to give authorization to an onsite management team
to administer the rental and upkeep of your individual unit, as well as the amenities
offered to the vacation rental guests, as well as to the marketing of your rental unit
c) the buyer/investor, in the majority of the options here in Mexico, has the right
to choose if he wants to place his unit on the rental pool, or decides to have 100% private use.
I have dealt with many buyers from the States, Canada, and UK with the Mexico investment goal
of earning vacation rentals from their units while they are back in their homes The condo hotels
have been an excellent option for such investors Normally the condo hotels will have professional and quite experienced management staff on site In such cases, the rental fees, may be higher than
contracting out-source options Out-source options would be the property and rental managers that
exist in the community who have built their businesses from renting condos and Mexico vacation homes in the region The higher fees charged to the on-site management team may be beneficial to the buyer/investor if the management team is able to keep the unit occupied on a higher percentage pointThis is normally the case as most managers invited to administer have track records and national and international marketing experience which pays off in the long run to keep the unit filled with renters.
