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. Usually the hotel services include the rental pool, room cleaning and 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.
Don’t miss the related articles Condo vs Condo Hotel: Part 1 or Condos vs Condo Hotels-Part 2: Making Money on Your Investment.
If you´d like more information about condo hotels sign up for our free webinar, “Could a Condo Hotel be the Right Investment For You?” Or please feel free to contact any of our Top Mexico Buyers’ Representatives  and we will be glad to help you.
And remember, here at Top Mexico Real Estate…
We Make It Happen!
