Beth Collingz, PLC International Marketing Director for Pacific Concord Properties Inc?s Lancaster Make of Condotels in the Philippines said Once the unit owners are not utilizing the condo hotel suite, the unit is devote the managed pool and rented out for them. The buyers have what is considered ?hassle free? ownership. The condo hotel unit owners also reap the benefits of having a specialist onsite management company to handle to marketing, booking of their room and general expertise that they bring to the table. In case a problem should arise making use of their condo hotel unit, the management company will take care of it instead of the owner having to be worried about it. This makes the traditional landlord tenant issues a thing of the past.
The condo hotel buyer sees the benefit to owning a vacation property that also has the potential to produce income for them. The normal condo hotel produces higher degrees of income compared to the traditional vacation home (and less headaches), making it all the more attractive to buyers said Collingz
Developments like the Lancaster Suites Manila Tower I was sold out in less than 18 months and the building is set for completion Summer 2007. Condo hotels will vary from traditional condos because they are sold ?turn key?. Clients initially purchase the standard condo unit and when the time comes for interior ?fit-out? they are able to avail of the internal Condotel package of furniture?s and furnishings for the unit. This means buyers don’t need to be worried about hiring a designer or contractor ahead in to finish out the unit. Everything is included from linens, dishes, pillows etc
At the forefront in the Metro Manila condo hotel market is Pacific Concord Properties Lancaster Make of condotel investments. Pricing for condo hotels can range anywhere from $43,000?s up to $350,000 for Penthouse suites. Needless to say the pricing depends upon location, views and forms of finishes.
The Lancaster Suites Manila Tower I development has enjoyed great success because of its clientele with property appreciation already reaching 100% for its initial buyers.
find room mate , the most recent development by PCPI in Shaw Boulevard, Metro Manila, happens to be on preconstruction selling and looks set to sell out within the next few months. Lancaster The Atrium offers clients the decision of Studio, One, Two and Three Bedroom suites that all have kitchen facilities as regular residential condo unit. In addition, Lancaster The Atrium, much like the Lancaster Suites Tower I, offers unit owners and guests an extensive selection of services and amenities said Collingz