South Beach Condo Hotels

I'm warming up to the concept of Miami Beach Condo-Hotel developments. One difference between South Beach vacation rentals and, let's say, Sanibel Island vacation rentals is that South Beach does not have many full service vacation rental companies that rent out one and two bedroom condos. Therefore, if you are an owner-investor in Miami Beach, you need to advertise the condo rental yourself, or have a Realtor list it on the MLS and schedule showings as if it were for sale. If you try to rent month-to-month in season, this process can be time-consuming and unrewarding. Current tenants don't like prospective tenants viewing the condo while they are trying to enjoy their vacation. The solution: Condo-Hotel residences. As an owner, you can use your condo several times a year, and place it in the Hotel's rental program to offset the costs of ownership. The Hotel and the owner usually split the profits 50/50 (after fees are incurred; housekeeping, maintenance, etc.). The big advantage is that you can probably net more money by allowing the professionals handle the renting of the condo. You can sit back in your lazy boy and let them handle all of the details. At press time, there are sveral new Condo-Hotel developments becoming available in South Beach, including The Penguin, the Edgewater, The Tides Hotel and of course, the W South Beach. I'll be researching all of their rental policies and amenities. I'll keep you up-to-date on the number crunching. Search all of Miami Beach preconstruction on my website at www.bestmiamibeachrealestate.com. That's all for now, back to relaxing in my Lazy Boy.