Here's what I got in the e-mail a few days ago: "Jon, the condo-hotel idea sounds interesting. Are there any condo fees?"
Well, yes. Condo-hotels are condos from the ownership point of view, and the term “hotel” only indicates that condos can be rented on a nightly basis, and that there is a Front Desk usually 24/7.
And for as long as we deal with condos, there are condo association monthly fees.
These fees vary from property to property and they depend on the actual costs of maintaining the condos’ common areas. The more amenities the condo has, the higher the Association (aka Maintenance fee).
In Daytona Beach area the condo-owners Association fees in condo-hotels go from $255 in Castaways to $450 in Hawaiian Inn.
The Association fee is derived at by creating the budget and then dividing it fairly among the condo-owners. Some properties divide evenly between the owners, so each room has the same maintenance fee no matter what the size of the unit is. Examples would be The Plaza Resort & Spa, Hawaiian Inn, Fountain Beach Resort…
Some charge by the sq. ft. There the fee depends on the size of the unit. Example would be Oceanside Inn, Ocean Jewels…
Besides Association fee, there are property taxes, and… Special Assessments, that nobody know when they come and how much they would be. Special Assessment is when there is the expense, for which there is no money in the budget.
Everything I said here about fees for condo-hotel owners is the same as for any condo owner. They are condo specific, not condo-hotel…
Call me 386-405-4408 if you are interested in this very affordable alternative to having a vacation getaway in Daytona Beach area.