A “condotel” is a hotel or a resort that is managed like a hotel. But the individual units are owned separately. A separate property management company manages

A “condotel” is a hotel or a resort that is managed like a hotel. But the individual units are owned separately. A separate property management company manages the units and gets half of the room rate. You also pay what amounts to a “condo association fee” that covers the common areas, all the utilities and the general upkeep. It’s not a time share. You own the full unit and you buy it and sell it just like you would any other commercial unit. The property management company doesn’t charge the owner when they live there. So it is rented out like a hotel when we aren’t there. Unlike most things you read on the internet. This is investment advice. Condotels are universally horrible “investments”. You should treat them as a second home where the rents might cover part of the cost of ownership. Especially since Florida is very seasonal, even putting the required 25%-30% down, there isn’t a chance we would break even if we expected the income to cover the costs all year. But, we are staying there during low season. Since it is our only home, we would have live somewhere anyway and we pay our own mortgage and fees like we would anyway - which are about the same as our big house that we had in the burbs. April through September, we expect it to break even.