There are lots of property investments that can bring huge profits to investors. However, one of the most promising lately is condotel investment. That’s why if you need a good condo for your investment, perhaps you need to see the Riviere condo.
Here are some important points about the advantages of the condotel business when compared to the apartment business:
Calculation of rental costs is per day
It’s because the rental fee is calculated on a daily basis, of course, the owner will get paid every day. The advantage of this system is that your financial condition will be better because every day there are always funds that can be used both for personal or operational needs. Generally, the rental rate per day will be given by the tenant every week for the duration of the use of the condotel.
This means that it doesn’t always have to be every day but what is clear is that the period is shorter when compared to apartments. Apartment rental rates as we know them are withdrawn monthly or annually. Even though you immediately get a large amount of rent, it is not as routine as a condotel.
Management is more practical
Condotel investment is more suitable for those who are busy and have high mobility because its management is managed by condotel management. That way you do not need to arrange your own daily service from units rented to consumers. The point is that condotel investment is very practical and guaranteed as a profitable investment. With 70:30 profit-sharing calculation, of course, you will get more profit after deducting the management services tariff.
Profits per day are usually higher
The reason is of course because the rental rate is calculated daily like a hotel in general. Certainly, the risk is when the tenant is quiet, of course, you will lose. This is why you have to be really careful as an investor regarding the principles of supply and demand. When converted to a daily rental system, apartment investment with rental rates paid monthly or annually is indeed a smaller value