Las Vegas Real Estate Report

When investing in a chic Las Vegas condo, bear in mind the crucial differences between condos and condo hotels. The Las Vegas Business Press today published a cautionary tale on the subject. While a condo hotel offers the owner the chance to bring in some extra revenue by renting out the unit, it comes with a litany of restrictions on how you can use the property. A condo hotel is much more like a time-share property than a full-time residence. Owners may not even be allowed to hang personal photographs, and there can be limits on how much time the owners can spend at the property in any given year. In addition, a large portion of the rental revenue – up to half in some cases – goes to the management company to pay for overhead and cleaning services, etc, which reduces the return on investment.

So if you’re interested in a part-time vacation residence, be very careful in examining the terms of a Las Vegas condo hotel before you buy.

This entry was posted on Tuesday, May 10th, 2005 at 2:30 pm and is filed under Las Vegas Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.