Condotel investment is mostly done by property investors. Condotel is considered to offer quite tempting advantages. However, choosing this type of property investment is not as easy as one might imagine, for that you must be selective in choosing the condotel that you want to buy. Meanwhile, if you need a good condo as a residence in Singapore, you just need to check out the pullman residences showflat.
Here are 4 important points that you should pay attention to when buying a condotel unit from the property developer:
1. Strategic location
Choose a condotel that has a strategic location like the pullman residences showflat. It’s because, if the location you choose is right, there will likely be many tenants who want to rent your condotel unit.
2. Rental guarantee scheme
You have to look at the rental guarantee scheme offer, as a condotel investor’s right. The warranty you get is usually limited in just a few years. It can also shrink over time. If the warranty period is exceeded, you will get a profit-sharing scheme related to hotel occupancy rates.
You will get a number of profits, after deducting various costs related to fees for the hotel management, marketing, operational, and condotel maintenance. The income you can enjoy varies from 50:50 or 60:40. You can ask the Condotel manager further about this agreement.
3. Buy a condotel before the building is built
Various condotels are sold, even when building construction has not yet been built. You can indeed get a cheaper price because they are considered to have helped finance the construction of the condotel project. Unfortunately, this investment pattern is vulnerable to big risks for investors.
Developers who build condotels should be developers who have been trusted to complete the construction until it is completed in a timely manner as promised, like the trusted developers of pullman condo newton. You also have to check the developer’s track record, and this is needed if the condotel that you want to buy is still under construction or not yet built.