I posted Daytona Beach Resort & Conference Center yesterday. I drove there to take a few «fresh» photos, and by the time I got there, the weather was far from being perfect. I could not help thinking that so far every time I come to take photos, the weather was not cooperating.
So, today I made a trip there again and took a few photos of this quite impressive condo-hotel with 322 rooms, one of the largest resorts in Daytona Beach area. You can read the description in the yesterday's blog. I only wanted to add some details, which I did not include yesterday.
There are no limitations on owners stay. Which is good. Owners can have 2 pets under 20 pounds. Not the guests, only the owners. This makes it one of the most liberal condo-hotels in the area. As far as I know, Castaways Beach Resort is the other one that allows owners to bring pets, but you can't compare Daytona Beach Resort & Conference Center to Castaways.
They use 2-year rental agreement. Split between the owners and the rental management company is 50/50. Owners can rent their units themselves; however, I would be very cautious doing it. It looks very easy, but this is the furthest from reality. Front Desk has about 230 units in rental program, which is a good number. Rentals are done by the developer's management company. Developer owns the first floor (commercial space).
Developer has 60 unsold units, but they are not selling their units at this time. All units for sale in the resort are by individual owners. I spoke to the Owners' Liaison Donna Holland, who was very helpful, and she said the Board meets at the resort once a year. Usually, this is a sign of the Developer’s Association. Same arrangement is in Plaza Resort & Spa (BTW, there are quite a number of similarities between Plaza Resort & Spa and Daytona Beach Resort & Conference Center, but this is for another blog).
I checked my archives and found documents from 2000, when they just started the conversion. It is interesting to look at over 10 years back. Maintenance fee was $195 a month. This is a far cry from today's $450 a month. Increased insurance premiums are a big chunk of it.
Daytona Beach Resort & Conference Center went a long way from where they were 10 years ago. Yes, the maintenance fee was low, but their rentals were dismal at that time, and the property did not look anywhere this nice. Donna told me that their Group Sales Department does a terrific job and they keep their meeting space busy. It is somewhat a surprise for me. Of course, income from conventions goes to the developer, but these groups stay in the resort and owners offset their expenses with rental income.
The resort has their share of people not paying maintenance fee, but so far they are holding their grounds, and did not have any Special Assessment, like it happened in some other condo-hotels. And this is a big plus.
If you are interested in units in Daytona Beach Resort & Conference Center, or any other condo-hotel or residential condo, call me 386-405-4408.
