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Amenities include two pools - outdoor and indoor pool. Other resort amenities include laundry, kitchenettes available in most rooms, shuffleboard, and a variety of enjoyable beach activities.
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8 Comments on Sea Dip Condo-Hotel. Market Snapshot
Hi Jon, 260 sq ft is smaller than a hotel room isn't it? Or it may be just that size. I guess being on Daytona Beach, it would be good those that have long work days and just need to do the essentials and the n leave again. Personally I would get claustrophobic, Do they all have balconies at least, that is where one could spend a lot of time. Great for college students I suppose. I can't remeber is there a school near by?
William - It is a very small hotel room, usually they are 350 -400 sf, so no surprise you would feel claustrophobic.
Not all of them have balconies. College students are not too common there. They prefer less epensive places. The colleges are all not on the beachside, and there are pretty good choices in the area.
Embry-Riddle students got smart. In a falling market, they get 3 or 4 of them together and then rent $600K new homes, as the speculators owners can't sell and are struggling to make payments. So, whether this is a $400K ro $600K home, not much difference if any in rent.
No wonder that there are then serious problems for the landlord.
Hi Broker Jon - The Condo-hotel is not something I'm familiar with. Does it operate like a timeshare where you're buying 1 week a year type of thing? Are you getting foreign investors interested in this kind of concept? We have nothing like this in Titusville and I'm always curious to know what types of opportunities other agents get involved in. Would love to hear more :-)
Gail - you can check some of the info on www.DaytonaCondoHotel.com. No, this is not like time share. You have a deed like in any residential (apartment) condominium.
Here in Daytona it started in late 90s as the way to sell a hotel in a stagnant market. Hotel owners figured that it is easier to sell if they convert them into condo-hotel and sell units to individual owners. In our MLS we even have a condotel category in MLS.
Usually they Association contracts a management rental company, that provides rental services (and maintains Front Desk) for the owners, but some simply hire employees and run rentals themselves.
Split varies from 45% to the owner to 60%, but 50/50 would be common.
Condo-hotels have limitations. You may not usually claim them as primary residence, and, therefore, homestead.
We have some foreigners, but not many. Mostly from Canada. Daytona did not really see the influx of buyers from Europe
Hi Jon - thanks for the information. I did check the link, very interesting. So I know I have it straight - you're buying the room, it's yours, you can use it yourself every day OR rent it out if you choose. If you live in it, you can't claim homestead, but a frugal person could live on the beach for as little as $35,000. I'm intrigued and will make a point to learn more. Thanks for bringing this to light.
Gail - Good, but not so fast. Condo-Hotels are all different, so I would be cautious with saying that you do what you want. There maybe limitation to how you use it. For instance, you can rent yourself in the Fountain Beach resort for short terms, ou have tougher time renting long term. The opposite is in Oceanside Inn. But generally speaking, you got it right.
When you get to actually looking at those, call me, I will save you time and money, and even pay the referral.
I am really interested in Sea Dip-Maintenance fee includes Electric? I have a chihuaua-any problem?
Linda - Electric is included. As to pets, the answer is no. You can have pets in Castaways, I am not sure about Pirates Cove and Daytona Beach Club, but I can find out if you want. Let me know.