Understanding Condo-Hotels in Daytona Beach. Condo-Hotels vs. Condos is the first post in a short series of blog posts. If you like the first one and want to read the rest of them, subscribe to the blog.

Condo-Hotels in Daytona Beach area have a high turnover. For several years every time someone walks in our office and asks us to sell their unit, I always ask why people are selling. Every time it is about "idiots on the Board", "stupid rules", etc. Never because the condition of the building. Not surprisingly, condo-hotels are so often misunderstood.

Legally condo-hotels are condominiums. Actually, the term "condo-hotels" is only used here to describe condominiums with minimum rentals of one day, like in hotels. Of course, here the majority of condo-hotels were hotels, converted to condominiums, but which keep operating as hotel.

On a daily basis I am answering questions about condo-hotels. the major question is what to buy: a residential condominium (apartment condo) or a condo-hotel. The answer is surprisingly simple. If you can afford a residential condo, go for it.

Residential condominiums in Daytona Beach Area are generally a safer bet. Yes, there are some developments, that came on the market a little too late, and are unsold, and their future is not certain, but these situations are for the most part known. Condominiums that have been fully sold before the last recession hit them hard, are a safer bet.

Condos (residential or apartment condominiums) in Daytona Beach area are generally more expensive in our area. So yes, if your budget is $50,000 top and you want to be in the oceanfront building, condo-hotel may be the only option. The problem is that buyers are looking at $29K (yes, that's a real price) condo-hotels as a prize oceanfront, and it may be not without a caveat.

Price is not the only criteria in choosing the property in Daytona Beach area.  

And how "cheap" is cheap? Let's look at numbers

Price per sq. ft.

370-SF hotel room for $50,000. Your condo-hotel comes at $135 per sq ft. Or you are buying a 2,927 sf super luxury 3 bedroom/ 3 baths plus den oceanfront condo for $400,000. Your condo comes at $136 PSF. But they are worlds apart in terms of quality, size, convenience, and luxury...

Maintenance (Association) fee

For a 372 SF studio in Plaza Resort you would pay $528.50 a month, or $1.41 per sq. ft. For a 2,927 sf 3-bdr unit in Ocean Vistas (one of the newest and best luxury residential condominiums in Daytona Beach Area) you would pay $702, or only $0.24 per sq. ft. or almost 6 times less than for a condo-hotel.

This is it for today. See you here on Sunday.

Interested in Daytona beach Condo-Hotels? Check what is available

Interested in Daytona beach Condominiums? Check what is available